Halifax Logo
Written by:
Nicole Conrad
Fact checked by:
Updated:
Jan 2023
Recommended for
  • beginners 3.0/5
  • equity trading 4.6/5
Trusted broker
  • Top-tier regulation in the UK
  • Compensation in case of broker bankruptcy (terms apply)
  • Long track record - founded in 1996
Popularity
2,702 people chose this broker in the last 6 months

Our take on Halifax

UK stockbroker, part of Halifax (Bank of Scotland), owned by Lloyds Banking Group. Halifax has low fees, free deposits and withdrawals from your account, and a straightforward account opening process with the option to set up a UK tax-exempt ISA. It is a good choice for beginner investors. Halifax's product selection is weak. Customer support is very poor, taking very long to solve problems. There are no mobile or desktop trading platforms available. BrokerChooser gave Halifax a 4.4/5 rating based on analyzing 500+ criteria and testing via opening a live account.

BrokerChooser score
4.4 4.4 /5
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Stock fee
Low
Fractional shares
No
Minimum deposit
$0
Inactivity fee
$0
Pros
Cons
Low fees
Weak product selection
Good options for deposit/withdrawal
Very poor customer service
Quick and easy account opening
No mobile or desktop platforms
Expert opinion
“I recommend Halifax for beginners and long-term investors.”
Gergely Korpos
Co-founder / CPO

Halifax main highlights

🗺️ Country of regulation UK
💰 Trading fees class Low
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $0
🕖 Time to open an account 1 day
💳 Deposit with bank card Available
👛 With electronic wallet Not available
💱 Number of base currencies 1
🎮 Demo account provided No
🛍️ Products offered Stock, ETF, Fund, Investment Trusts

Halifax summary

Fees
4
Account opening
4
Deposit and withdrawal
3.8
Web trading platform
2.8
Mobile trading platform
Desktop trading platform
Markets and products
3.2
Research
3.5
Customer service
0
Education
3.5
Safety
To read much more details about the broker's services and features, expand on the sections below.

Halifax review
Fees

Score: 4/5
+
Halifax has low fees for stocks/ETFs, including commission-free international trades. On the negative side, there is an annual account fee.
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Halifax review
Account opening

Score: 4/5
+
Opening an account at Halifax Share Dealing is very fast and takes place fully online. Still, we found the process less intuitive and less easy to navigate than at other brokers.
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Halifax review
Deposit and withdrawal

Score: 3.8/5
+
Deposits and withdrawals at Halifax are free, but the latter can be slow. Also, Halifax only allows GBP funding, meaning you'll face a currency exchange fee when trading international products.
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Halifax review
Web trading platform

Score: 2.8/5
+
Halifax offers a basic web trading platform that is easy to navigate, but it doesn't offer much extra functionality, relying on the public website for most research tools or information.
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Halifax review
Mobile trading platform

+
Halifax doesn't offer a mobile trading platform. We think that the lack of a mobile trading platform is a big miss as users can't trade or track their positions on the go.
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Halifax review
Desktop trading platform

+
Halifax doesn't provide a desktop trading platform.
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Halifax review
Markets and products

Score: 3.2/5
+
Halifax offers stocks and ETFs from multiple international exchanges, along with a good selection of funds, but other popular product categories such as forex, CFDs or cryptos are not available.
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Halifax review
Research

Score: 3.5/5
+
Halifax's research page has many useful tools, such as fundamental data and trading ideas. On the negative side, it's a bit difficult to locate and use some of these research tools.
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Halifax review
Customer service

Score: 0/5
+
Halifax's customer support is very poor, taking very long - if at all available - to address problems or queries.
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Halifax review
Education

Score: 3.5/5
+
Halifax offers tutorials on how to use the platform as well as how to invest, but there's no demo account allowing new users to try the platform before opening an account.
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Halifax review
Safety

+
Halifax is regulated by the top-tier FCA and is part of the publicly-traded Lloyds Banking Group. This background provides a good level of safety for Halifax customers.
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Halifax review
Bottom line

Halifax Share Dealing is a reputable UK broker with low fees. There are free deposits and withdrawals from your account, and a quick and easy account opening process with the option to set up a UK tax-exempt ISA. This broker could be the right option for long-term investors that only initiate trades occasionally.

In some respects, though, Halifax is lagging behind its competition. It has a weak product selection, as well as inefficient and unresponsive customer support. Halifax offers no mobile trading app or desktop trading platform.

As your account will be ready within a few days and no inactivity fee is charged, you should feel free to try Halifax.

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Halifax review
FAQ

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Author of this review

Nicole Conrad

Author of this review

Nicole is a former intern content contributor for BrokerChooser. She came with experience and certification in Accounting, and pursued graduate studies in Economic Policy. Nicole wrote broker reviews to provide transparency for customers: highlighting brokers’ exceptional services and holding them accountable for questionable practices.

Nicole Conrad

Nicole is a former intern content contributor for BrokerChooser. She came with experience and certification in Accounting, and pursued graduate studies in Economic Policy. Nicole wrote broker reviews to provide transparency for customers: highlighting brokers’ exceptional services and holding them accountable for questionable practices.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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