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Freetrade ReviewHargreaves Lansdown Review
Written by Elizabeth Anderson
Edited by Carolyn Kimball
Fact-checked by Steven Hatzakis
Your capital is at risk.
Hargreaves Lansdown offers a great service for any sort of investor. Its transaction fees are higher than other platforms, but if you are starting out or have a small investment pot then the price difference is negligible. While Hargreaves Lansdown offers thousands of funds, stocks and bonds to choose from, it also offers ready-made portfolios for those not comfortable with choosing their own.
As the U.K.’s biggest investment platform for individual investors, Hargreaves Lansdown offers a wide range of investment choices for either beginners or seasoned investors.
-
Minimum Deposit:
£1 -
ISA:
Yes -
SIPP:
Yes
Hargreaves Lansdown pros & cons
Pros
- Offers a wide range of accounts, including ISAs, SIPPs and Junior SIPPs.
- There are no custody charges for Junior ISAs.
- Huge amounts of educational materials.
Cons
- Stock trading fees are high compared to other brokers.
- Charting features are not as sophisticated as other platforms.
Overall summary
| Feature |
Hargreaves Lansdown
|
|---|---|
| Overall Rating |
|
| Charges & Fees |
|
| Investment Choices |
|
| Mobile App |
|
| Website |
|
| Ease of Use |
|
| Education |
|
Charges and fees
Hargreaves Lansdown is the most expensive U.K. broker for one-off share trading. Share dealing charges are £11.95 to buy and sell stocks, although the fee reduces for frequent or regular trading.
If you are completely new to stock trading and are looking to make a test trade, I wouldn’t recommend doing it through Hargreaves Lansdown. Buying £100 worth of stock, for example, would immediately reduce the value of your investment to £88.05. You’d then pay another £11.95 if you wanted to sell up. In this case, you’d be better going through a platform such as Freetrade or Trading 212, which don’t charge commission on stock trades. Or you may want to try out practice trading on a broker such as eToro first.
However, fees for buying shares through Hargreaves Lansdown are reduced to £1.50 if you commit to buying monthly through direct debit. Fees for reinvesting dividends are £1 to £10, which may work out cheaper than rivals including AJ Bell, which charges £1.50 for dividend reinvestment.
Mutual funds are also free to buy and sell, which is beneficial for those looking to invest in funds for diversification. There is an annual management charge of 0.45% on mutual fund holdings.
Trading fees for ETFs and investment trusts are £11.95, like company stocks. Annual custody fees for ETFs, shares, bonds and investment trusts are capped at £45 a year through a stocks and shares ISA and there are no custody charges through a general dealing account. So Hargreaves Lansdown can work out very competitive on fees if you don’t hold mutual funds.
A great benefit of Hargreaves Lansdown is that it does not charge anything for Junior ISAs. There are no service fees or trading charges. This is unique among its rival brokers and I think is a real selling point for Hargreaves Lansdown when it comes to saving for your child.
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 a traditional, taxable share dealing account, here are five scenarios of how much Hargreaves Lansdown would cost based 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
|
|---|---|
| Minimum Deposit | £1 |
| Share Trading: 0-9 Deals/ Month | £11.95 |
| Share Trading: 10-19 Deals/ Month | £8.95 |
| Share Trading: 20+ Deals/ Month | £5.95 |
| Annual Custody Fee: £0 - £250,000 | Up to £1,125 |
| Annual Custody Fee: £250K-£500K | Up to £625 |
| Annual Custody Fee: £500,000 - £1m | Up to £1,250 |
| Annual Custody Fee: £1m and over | Up to £1,000 |
| Bonds - Corporate - Fee | £20 - £50 |
| Bonds - Government (Gilts) - Fee | £20 - £50 |
| ETFs - Fee | £5.95 - £11.95 |
| Investment Trusts - Fee | £5.95 - £11.95 |
| Telephone Dealing Fee | £20 - £50 |
| Visit Site |
What type of trader are you?
New to the world of investing? See my picks for the best UK trading platforms for beginners. More experienced traders should check out my guide to the best UK Trading Platforms for Active Traders. If you're looking to trade shares on the go, read my guide to the best UK stock trading apps.
Mobile trading apps
Hargreaves Lansdown’s mobile app is straightforward to use, and a recent app update has made it easier to search for and browse new investments by searching fund categories. The news tab is updated regularly. In my testing, I found it easy to create a watch list or find information about funds or companies.
Tap for a demo of Hargreaves Lansdown's U.K. trading app.
Website
The website for Hargreaves Lansdown offers a huge range of helpful articles and calculators, such as a useful pension calculator and an ISA calculator.
You can annotate stock charts and overlay charts to compare different stocks and indices, a feature that is not available on the mobile app. However, there are no drawing tools and only 15 chart indicators. Some platforms offer more than 100 chart indicators. However, such charting tools are not likely to be needed by most everyday investors.
| Feature |
Hargreaves Lansdown
|
|---|---|
| Web Platform | Yes |
| iPhone App | Yes |
| Android App | Yes |
| Stock Alerts | Yes |
| Charting - Indicators / Studies | 15 |
| Charting - Drawing Tools | 0 |
| Charting - Notes | No |
| Charting - Display Corporate Events | Yes |
| Charting - Stock Overlays | Yes |
| Charting - Index Overlays | Yes |
Investment choices
Hargreaves Lansdown offers a very wide range of investments, from company stocks and ETFs to investment trusts and bonds. You can buy company shares through 20 international stock exchanges based in Europe and North America.
It’s easy to imagine the platform feeling overwhelming at times, particularly for beginners, as there are thousands of investments to choose from. Those just starting out may find it helpful to explore Hargreaves Lansdown’s Wealth Shortlist, which highlights funds that Hargreaves Lansdown recommends for the best long-term performance potential.
There are also HL Portfolio Funds, HL Portfolio Building Blocks and HL Select Funds. These are simple all-in-one investment fund options for people who want diversification straight away. They are managed by Hargreaves Lansdown Fund Managers Ltd, with annual fees starting from 0.62%.
If you are still too overwhelmed by the choices, know that Hargreaves Lansdown is one of the only U.K. brokers to offer adviser services. This includes personal advice on investments, retirement, inheritance tax and financial planning. The charges are 1%-2% of the value of your assets, starting from £495, which is about in line with industry averages.
Hargreaves Lansdown also offers an Active Savings Account, which means you can earn competitive interest rates for cash held in your account through partner banks. This is unique among U.K. brokers.
| Feature |
Hargreaves Lansdown
|
|---|---|
| Share Trading | Yes |
| CFD Trading | No |
| Funds | Yes |
| Research - ETFs | Yes |
| Bonds - Corporate | Yes |
| Bonds - Government (Gilts) | Yes |
| Investment Trusts | Yes |
| Spread Betting | No |
| Crypto Trading | No |
| Advisor Services | Yes |
Education
Hargreaves Lansdown is known for its extensive array of educational material. It offers many guides and articles to people looking to learn more about investing and the stock market. There are around 80 videos on its YouTube channel that explain investing FAQs and feature fund manager interviews. I’d like to see the broker offer a video demonstrating how new customers can get the most from the platform, which would be very useful.
| Feature |
Hargreaves Lansdown
|
|---|---|
| Education (Share Trading) | Yes |
| Education (Funds) | Yes |
| Education (Retirement) | Yes |
| Client Webinars | Yes |
| Client Webinars (Archived) | No |
Final thoughts
Hargreaves Lansdown is a very safe bet if you are looking to invest through an ISA, SIPP or general dealing account. It is also one of just a few brokers offering Junior SIPPs, which is good if you are looking to open a pension for a child (the child will require a separate login and password, though).
The fact that Hargreaves Lansdown’s fees are generally more expensive than rival brokers for fund investing becomes an issue once your investments grow to be worth tens of thousands of pounds. On an investment portfolio worth £100,000, for example, you’d pay £450 a year to Hargreaves Lansdown in management fees. In comparison, Vanguard would charge £150 and eToro would charge nothing. However, Hargreaves Lansdown offers more investments than these platforms and if you only invest in shares and ETFs, the management fees are fee or much lower.
About Hargreaves Lansdown
Headquartered in Bristol, Hargreaves Lansdown has been around for more than 40 years and is the U.K.’s biggest stockbroker for private investors. More than £120 billion is invested through its platform by around 1.7 million customers. The company was founded by Peter Hargreaves and Stephen Lansdown in 1981 and is now listed on the FTSE 100.
Is Hargreaves Lansdown trustworthy?
Yes, as the stock broker has been around for more than 40 years and is one of the U.K.’s largest public companies, being listed on the FTSE 100. Hargreaves Lansdown is authorised and regulated by the Financial Conduct Authority, meaning it must adhere to strict rules and regulations to protect clients’ money.
Is the Hargreaves Lansdown app good?
The Hargreaves Lansdown app offers everything an everyday investor would need. It is easy to view and manage your investment accounts. However, you can only make changes to your Active Savings Account through the website. The mobile app is very secure, offering two-factor authentication.
Is Hargreaves Lansdown any good?
Hargreaves Lansdown is a great option for both new and sophisticated investors. Its aim is to simplify investments for anyone, and the company was among the first to offer DIY investments to Britons without the need for a financial adviser. Hargreaves Lansdown has around 1.7 million customers – around three times as many as its close rival AJ Bell.
How much do Hargreaves Lansdown charge for selling shares?
Hargreaves Lansdown charges £11.95 for selling shares, making it the most expensive broker for selling shares. Competitors Freetrade, Trading 212, eToro and CMC Invest by comparison, do not charge commission on stock trades.
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Methodology
For the UK.StockBrokers.com Annual Review, we assessed, rated, and ranked 17 U.K. share dealing platforms over a 10-week time period. Each broker’s platforms and features were exhaustively tested by hand and graded on 53 different variables. In total, over 25,000 words of research were produced.
We thoroughly tested and compared features of prime interest to everyday investors, including but not limited to:
- Investment choices, such as whether the broker offers trading of shares, ETFs, funds, bonds, and CFDs; and offers SIPP and ISA accounts.
- The broker’s charges and fees for investing.
- Functionality and design of mobile apps and website platform, and a fluid experience moving between app and web.
- Usability of tools such as charting and watch lists.
- Market research, such as screening, news and analysis.
- Educational resources including tutorials, online courses, videos, webinars and articles.
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 lead researcher and writer, Elizabeth Anderson, has more than a decade’s experience as a financial journalist and market researcher. Elizabeth’s expertise is backed by a team of veteran fellow traders, data auditors, editors and project managers who work to ensure that UK.StockBrokers.com reviews and guides are the most unbiased and complete in the industry. Read more about our team.
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Show allAbout the Editorial Team
Elizabeth Anderson, lead writer and researcher, has been a financial journalist for more than a decade. In addition to her work with UK.StockBrokers.com, she has written extensively for major publications including BBC, The Times and Bloomberg. A keen investor herself, she is passionate about helping people understand finance and investing.
Carolyn Kimball is managing editor for Reink Media and the lead editor for the StockBrokers.com 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 is the Global Director of Online Broker Research for UK.StockBrokers.com and ForexBrokers.com. 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.