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Halifax Review

Steve Miley

Steve Miley | October 21st, 2019

Overall Rating

At £12.50 per trade, Halifax quickly becomes expensive for most traders. Although Halifax offers sound charting and proper research, they have no dedicated mobile application and do not provide enough additional features to be recognized as a top broker.

Top Takeaways for 2019

After spending over 100 hours testing nine online stock brokers for UK share dealing, here are our top findings on Halifax Share Dealing:

  • Halifax has the same share dealing product as its parent company, Lloyds Bank. Research, charting, and news on both platforms are exactly the same because both brokers use the same third-party providers.
  • Investors who don't make recurring investments each month are stuck paying £12.50 per trade. This rate ranks as the most expensive of all brokers we tested.
  • While Halifax research matches industry standards, it trails industry leaders such as Hargreaves Lansdown and Barclays.
  • Halifax does not currently offer a mobile app. To trade from a mobile device, traders must use the Halifax website, which is not the same as a dedicated app experience.
  • Halifax has a sub-par education section, delivering only a select number of bite-size educational pieces.

Overall Summary

Overall 3.5 Stars
Offering of Investments 4 Stars
Commissions & Fees 3 Stars
Platform & Tools 3.5 Stars
Research 4 Stars
Education 3.5 Stars

Commissions & Fees

The Halifax Share Dealing service has a flat fee structure of £12.50 per trade and ranked in the lower half of our commissions and fees rankings. That said, if the trader participates in a regular investment plan (from as little as £20 per month), dealing charges come down to just £2.00 per trade.

Unlike some of its competitors, Halifax Share Dealing applies no quarterly or annual administration charges for a standard (taxable) trading account. That said, Stocks and Shares ISAs have a flat £12.50 per year admin charge, and SIPP accounts have a quarterly fee of £22.50 (SIPP value of less than £50,000) or £45 (SIPP value of £50,000 or more).

Finally, in addition to reduced commission rates for recurring investments, Halifax offers trades at a special discounted price of £3.95 per trade for two hours only during one day each month.

Share Trading: 0-9 Deals/ Month£12.50
Share Trading: 10-19 Deals/ Month£12.50
Share Trading: 20+ Deals/ Month£12.50
Annual Custody Fee: £0 - £250,000*£0
Annual Custody Fee: £250K-£500K*£0
Annual Custody Fee: £500,000 - £1m*£0
Annual Custody Fee: £1m and over*£0
ETFs - Fee£12.50
Investment Trusts - Fee£12.50
Telephone Dealing Fee*£25.00

Platforms & Tools

Less charting, the trading tools provided by Halifax Share Dealing are nothing to write home about. Unfortunately, Halifax does not offer a standalone platform or mobile app.

Charting: Charting with Halifax is a decent experience. The platform enables users to change the chart type (line, candlestick, OHLC charts) and to compare indices, sectors, and other stocks. Also, users have access to over 90 different technical indicators. Stock alerts are only offered for price, RNS, or volume changes, and set through the watchlist. Stock and index overlays are not available for charting.

Mobile Trading: Halifax does not currently offer a mobile application. To trade from a mobile device, traders must use the Halifax website, which is not the same as a dedicated app.

Desktop Platform (Windows) No
Web Platform Yes
iPhone App No
Android App No
Stock Alerts Yes
Charting - Indicators / Studies91
Charting - Drawing Tools17
Charting - Notes No
Charting - Display Corporate Events Yes
Charting - Stock Overlays No
Charting - Index Overlays No



The Halifax Share Dealing Research Centre is powered by Web Financial Group and Morningstar. Although the research content is satisfactory, it is still average relative to the competition across the industry.

Halifax offers the following research tools:

  • Shares Centre: The Halifax shares centre is nearly identical to Barclay's research centre, the only difference being the color scheme. The individual share quote page is a one-stop overview, with both one-day and six-month basic charts, fundamentals for the past five years, recent company announcements and news, director deals, current market data, and recent dividends.
  • Funds Centre: The Funds Centre contains a prospectus for each fund. Key Investor Information Documents are available, as well as fund charges, objectives, performance history, and Morningstar ratings are available.
  • Watchlist: The Halifax watchlist allows investors to add price, volume, and RNS alerts. Furthermore, it is easy to add any stock to a watchlist from the summary page or to deal directly in a share.
  • Third-Party Content: The Investment Ideas section contains third-party (Morningstar) news articles and videos.
Research - Shares Yes
Research - CFDs No
Research - Funds Yes
Fund Research - Research Reports No
Research - ETFs Yes
Research - Bonds Yes
Portfolio Allocation Breakdown Yes


Offering of Investments

Halifax allows investors to trade shares, international shares, ETFs, investment trusts, and over 2,000 funds. SIPP and ISA accounts are also available in addition to share dealing accounts.

Six different international exchanges are available for Halifax customers to trade on, including the NYSE, NASDAQ, NYSE Amex, XETRA, MTA, and Euronext. Other brokers such as Saxo Markets and IG offer upwards of twenty international exchanges to trade on.

Share Trading Yes
CFD Trading No
Funds Yes
ETFs Yes
Bonds - Corporate Yes
Bonds - Government (Gilts) Yes
Investment Trusts Yes
Spread Betting No
Advisor Services Yes


Halifax Share Dealing provides a variety of educational content for its clients, but the articles do not go into any great depth. Overall, we were left unimpressed.

Has Education - Share Trading Yes
Has Education - Funds Yes
Has Education - Retirement Yes
Client Webinars No
Client Webinars (Archived) No


Final Thoughts

Halifax makes sense if you're making recurring investments each month, allowing you to take advantage of the £2 dealing commissions for recurring investments. Otherwise, paying £12.50 per trade with mediocre research and few trading tools is not worth it.

About Halifax

Halifax Share Dealing is a subsidiary of Halifax, a division of the Bank of Scotland plc, a wholly owned subsidiary of the broader Lloyds Banking Group. Lloyds Banking Group is traded on both the London and New York Stock Exchanges, and is one of the largest companies on the FTSE 100. Its ticker symbol is "LLOY".

Halifax is named after the town of Halifax in West Yorkshire, where it was founded in 1853 as a building society. Halifax Share Dealing was established when Halifax went public in 1997. It was the first in the UK to offer a regular investment plan through which customers could buy shares. Halifax Share Dealing is now based in Leeds and has over one million customers.

Steve Miley

About the author: Steve Miley Steve Miley is Director of Research, Europe, for and heads the annual UK Share Dealing Broker Review. With 25 years of experience in institutional financial markets, Steve has won multiple Technical Analyst Magazine awards, including "Best Independent Fixed Income" and "Best FX Research." Alongside, Steve is the founder of The Market Chartist where he provides market research for institutional clients.

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All pricing data was obtained from a published web site as of 01/08/18 and is believed to be accurate, but is not guaranteed. The staff is constantly working with its online broker representatives to obtain the latest pricing data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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