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Hargreaves Lansdown Review

Steve Miley

Written by Steve Miley, Blain Reinkensmeyer
Edited by Carolyn Kimball
Fact-checked by Steven Hatzakis

December 27, 2022

Your capital is at risk.

Hargreaves Lansdown has a wide range of sophisticated research accompanied by a comprehensive selection of investment options and a user-friendly mobile app. However, pricing is expensive, the charting tools are average and educational resources are only in line with industry standards.

Hargreaves Lansdown
4/5 Stars Overall
  • Minimum Deposit: £1.0
  • ISA: Yes
  • SIPP: Yes

Hargreaves Lansdown pros & cons


  • SIPP and ISA accounts are on offer, accompanied by advisory services with ready-made portfolios.
  • Amazing in-house research on funds and stocks, a feature that stood out in our survey of best trading platforms in the U.K.
  • There is the choice of investment in over 20 international exchanges for investment trusts, shares, bonds, and funds.


  • The trading fees and commissions are pricey, especially when compared to FinecoBank, Freetrade, Trading 212 and
  • A lackluster charting package, particularly considering fees that are on the upper end of the industry spectrum.
  • Despite the high fees, the educational section is lacking and is just on par with its competitors, at best.

Overall summary

Feature Hargreaves Lansdown logoHargreaves Lansdown
Overall Rating info 4/5 Stars
Commissions & Fees 3/5 Stars
Offering of Investments 5/5 Stars
Mobile Trading 4.5/5 Stars
Platforms & Tools 4/5 Stars
Research 4.5/5 Stars
Ease of Use 4/5 Stars
Education 4/5 Stars

Commissions & fees

Like many of its competitors, Hargreaves Lansdown has a tiered fee structure that is based on the number of deals placed during the previous calendar month.

For funds, there are no direct trading fees, although there are annual management charges. Hargreaves Lansdown charges some of the highest per-trade fees and custody fees in our industry survey. Regardless of trading stocks or funds, investors are paying a premium. Traders must ask themselves whether or not the high fees justify the excellent research that Hargreaves provides customers.

Per-trade fees: There are per-trade fees for shares, corporate bonds, gilts, and ETFs. The higher-end price is £11.95 per deal, but this falls to as low as £5.95 per deal if 20 or more share deals have been placed in the previous month. Hargreaves Lansdown does not charge for account inactivity. Note: The trading fees outlined are for online trading; phone fees are 1% (£20 minimum, £50 maximum).

Annual fees: Annual management charges are as follows:

  • Funds held from £0 - £250,000: 0.45% per annum.
  • £250,000 - £1 million: 0.25%.
  • £1 million - £2 million: 0.10%.
  • Over £2 million: no further charge.

For example, if you have an account with £10,000, you will pay £45 in management charges. For fund and share accounts, there is no custody fee for holding shares. For stocks and shares ISA and SIPP accounts, there is a 0.45% charge (capped at £45 per year). Hargreaves is one of the only brokers to impose custody fees on shares.

Again, these charges are at the higher end compared to other brokers in our survey. Other fees may also be applicable.

Market data: By default, customers receive free, delayed market data for available exchanges. Real-time streaming market data is free for the London Stock Exchange (must activate in account), which is a bonus feature, as most U.K. brokers charge monthly fees for real-time streaming data.

Scenario pricing: When calculating annual share dealing costs, trading frequency and account balance are the two most important factors to consider. Assuming a £30,000 portfolio in traditional, taxable share dealing account, here are five scenarios of how much Hargreaves Lansdown would cost depending on trade frequency:

  • 5 trades per year = £59.75
  • 12 trades per year = £143.4
  • 36 trades per year = £430.2
  • 120 trades per year = £1074
  • 3 fund trades per year = £135
Feature Hargreaves Lansdown logoHargreaves Lansdown
Minimum Deposit info £1.0
Share Trading: 0-9 Deals/ Month info £11.95
Share Trading: 10-19 Deals/ Month info £8.95
Share Trading: 20+ Deals/ Month info £5.95
Annual Custody Fee: £0 - £250,000 info 0.45%
Annual Custody Fee: £250K-£500K info 0.25%
Annual Custody Fee: £500,000 - £1m info 0.25%
Annual Custody Fee: £1m and over info 0.10%
Bonds - Corporate - Fee info 1% (20-50) or £11.95
Bonds - Government (Gilts) - Fee info 1% £20 minimum
ETFs - Fee info £11.95
Investment Trusts - Fee info £11.95
Telephone Dealing Fee info 1% of the trade value, mininmum £20 maximum £50
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Mobile trading apps

Hargreaves Lansdown offers its HL mobile app for iPhone, iPad, and Android. The app is robust, offering traders a simple, user-friendly, but still effective way to trade on the go while maintaining most of the broker’s fundamental research.

The most recent in-house research is available for each stock, which given Hargreaves’ enviable offering is truly a bonus for the on-the-go investor who wants a high level of research. It is possible to view company announcements, financials and dividends alongside company news and Hargreaves Lansdown’s own views.

The app also allows traders to view a mobile chart in full-screen mode, a significant feature for technical analysts, and one that is only offered elsewhere by Saxo Markets and IG Group. (See our picks for Best Mobile Trading Apps.)

Other platforms & tools

Hargreaves Lansdown offers an average trading platform (web-based) and an easy-to-use mobile app. While most traders will be able to get the job done on the Hargreaves web platform, it doesn’t provide the next-level charting offered by Interactive Brokers, Saxo Markets, or IG.

Charting: As far as stock charts go, Hargreaves does a decent job, falling in line with the industry average. Traders have access to 20 charting indicators and can easily add an overlay of an index or other asset. On the plus side, charts can display events, such as broker forecasts, financial results, or dividends, a feature which is not prevalent amongst other brokers in our U.K. survey. However, there is only one drawing tool available, which is very limiting for any analysis, and you cannot open a chart in a separate window to make it bigger. The inability to save studies for an individual chart is also frustrating.

Feature Hargreaves Lansdown logoHargreaves Lansdown
Web Platform info Yes
iPhone App info Yes
Android App info Yes
Stock Alerts info Yes
Charting - Indicators / Studies info 20
Charting - Drawing Tools info 1
Charting - Notes info No
Charting - Display Corporate Events info Yes
Charting - Stock Overlays info Yes
Charting - Index Overlays info Yes


The whole research offering from Hargreaves Lansdown is extremely robust and, it has to be said, impressive, including an enviable wealth of fundamental company data. Standard quote pages have research tabs for charts and performance, news, HL research, broker forecasts, director deals, financials, dividends, company info, and costs.

The broker forecasts and HL research tabs provide analyst ratings and in-house commentary on specific shares, a great plus if you are looking for more in-depth research commentary. The amount of analyst commentary for shares and funds on the Wealth Shortlist is unmatched in our survey. One downside to an otherwise impressive research offering is the removal of broker forecasts data for stocks and ETFs.

The Wealth Shortlist: This list highlights funds that Hargreaves Lansdown considers the best across the leading investment sectors. The aim here is to help investors choose funds in which the fund manager has complete confidence. Each fund in the list features in-house commentary, which is a strong point of attraction for fund investors. Fund objectives include income and/or growth.

HL Research: The HL Research tab contains in-house commentaries, typically discussing recent news and how it affects the share or fund price. In our testing we have found that no other broker provides as much in-house research and commentary as Hargreaves Lansdown.

Market news: Hargreaves Lansdown offers a variety of in-house and third-party market news and stock market reports. The news covers everything from individual companies to director dealings and corporate actions. In addition to market news, Hargreaves Lansdown displays lists of top-traded stocks and a financial diary that tracks important company dates.

Editor's Choice: Users can sign up to receive a weekly Editor's Choice email, which provides commentary on the economy, markets, and investment ideas and financial planning tips. The email is a quick way to get a high-level update of current market events.

No screener: Unlike most brokers, Hargreaves Lansdown does not offer a stock screener.

Feature Hargreaves Lansdown logoHargreaves Lansdown
Research - Shares info No
Research - CFDs info No
Research - Funds info Yes
Fund Research - Research Reports info Yes
Research - ETFs info Yes
Portfolio Allocation Breakdown info Yes

Offering of investments

Hargreaves Lansdown offers investing in shares, ETFs, bonds, investment trusts, and over 3,000 funds. Shares trading is available on 20 international exchanges. Hargreaves Lansdown offers standard ISA/SIPP accounts, as well as share dealing accounts.

Hargreaves Lansdown is one of a select few U.K. brokers to offer adviser services in addition to standard share dealing.

Portfolio+: Portfolio+ comprises six pre-built portfolios that invest in multiple assets such as bonds and shares across countries, regions, and sectors.

HL Funds: Lastly, Hargreaves Lansdown offers HL Multi-Manager Funds and HL Select Funds. Each of the HL Multi-Manager Funds, nominated by the HL investment team, look to provide broad exposure to a whole sector (high income, U.K. growth, etc.) with a single investment. HL Select Funds are three concentrated portfolios of shares chosen and managed by Hargreaves Lansdown managers.

Feature Hargreaves Lansdown logoHargreaves Lansdown
Share Trading info Yes
CFD Trading info No
Funds info Yes
Research - ETFs info Yes
Bonds - Corporate info Yes
Bonds - Government (Gilts) info Yes
Investment Trusts info Yes
Spread Betting info No
Crypto Trading info No
Advisor Services info Yes


Overall, Hargreaves Lansdown’s educational guides are of good quality and lay a solid foundation of educational resources to build upon going forward. Beyond the firm’s respectable research platform, several guides and calculators offer educational material. Clients can learn about general topics such as ISAs, SIPPS, share selection, and pensions.

There are several short educational videos to help new investors get started. These videos are informative and illustrative, and we would like to see more of them in the future.

Feature Hargreaves Lansdown logoHargreaves Lansdown
Education (Share Trading) info Yes
Education (Funds) info Yes
Education (Retirement) info Yes
Client Webinars info Yes
Client Webinars (Archived) info No

Final thoughts

Hargreaves Lansdown is an extremely well-rounded share dealing brokerage. The company offers excellent in-house research, a variety of market research tools, and a simple and straightforward mobile app.

Ultimately, casual investors have to ask themselves whether the research available for shares and funds is enough to justify paying the higher commissions and management fees.

About Hargreaves Lansdown

Bristol-based Hargreaves Lansdown has a 35-year history of helping U.K. investors with investment decisions and execution. With more than £135 billion under management and with over 1.5 million clients, Hargreaves Lansdown can be viewed as a market leader by many measures. The company continues to maintain a 100% U.K. presence and is listed on the FTSE 100 under the stock symbol "HL".


For the 2023 U.K. Review, we assessed, rated, and ranked 11 U.K. share dealing platforms over a 10-week time period. Each broker was exhaustively tested on all available platforms and graded on 53 different variables. In total, over 17,000 words of research were produced.

Our rigorous data validation process yields an error rate of less than .001% each year, providing site visitors with quality data they can trust. Our team.

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About the Editorial Team

Steve Miley
Steve Miley

With 30 years of experience in institutional financial markets, Steve has won multiple awards from Technical Analyst Magazine, including "Best Independent Fixed Income" and "Best FX Research." In addition to his work with, Steve is the founder of The Market Chartist, where he provides market research for institutional clients; and is editor-in-chief for

Blain Reinkensmeyer
Blain Reinkensmeyer

Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.

Carolyn Kimball
Carolyn Kimball

Carolyn Kimball is managing editor for Reink Media and the lead editor for the Annual Review. Carolyn has more than 20 years of writing and editing experience at major media outlets including NerdWallet, the Los Angeles Times and the San Jose Mercury News. She specializes in coverage of personal financial products and services, wielding her editing skills to clarify complex (some might say befuddling) topics to help consumers make informed decisions about their money.

Steven Hatzakis
Steven Hatzakis

Steven Hatzakis is the Global Director of Research for Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.