Why choose Halifax
Halifax is a UK stockbroker, part of Halifax (Bank of Scotland), which is owned by the Lloyds Banking Group.
It offers competitive 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.
However, Halifax's product selection is weak. Customer support is very poor, it takes very long to solve any problems. There are no mobile or desktop trading platforms available.
BrokerChooser gave Halifax a 4.1/5 rating based on analyzing 600+ criteria and testing via opening a live account.
- Competitive fees
- Good options for deposit/withdrawal
- Quick and easy account opening
Not sure if this is the right broker for you? See the best ones.
See how the best brokers in the United States compare to Halifax
Fees
- No withdrawal fee
- No inactivity fee
- Commission-free international stocks
We compared Halifax's fees with two similar brokers we selected, Fidelity International and AJ Bell Youinvest. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of Halifax alternatives.
Commission-free stocks and ETFs
Halifax UK stock fees are much higher than the industry average. UK stock fees are calculated as follows: £9.50 per trade
Broker | UK stock |
---|---|
Halifax | $12.0 |
Fidelity International | $12.6 |
AJ Bell Youinvest | $6.3 |
Trading international stocks at Halifax is comission free, which is a strong argument in favor of the broker.
Average mutual fund commission
Halifax Mutual fund fees are slightly higher than the industry average. Mutual fund fees are calculated as follows: £9.50 per trade
Broker | Mutual fund |
---|---|
Halifax | $12.0 |
Fidelity International | $0.0 |
AJ Bell Youinvest | $1.9 |
Although average in a wider context, Halifax's fund trading fees are less favorable compared to its immediate competitors. For each transaction, Halifax charges the same £9.50 flat fee as for stocks and ETFs. On top of this, you will also have to pay other costs charged by the fund managers, such as a transaction fee and ongoing charges.
No inactivity fee, no withdrawal fee
There is no inactivity fee for the basic Share Dealing Account; this is great for beginners because this way they don't have to commit to investing or trading frequently in order to avoid inactivity charges. Halifax also charges no withdrawal fees or deposit fees.
On the downside, there's a £36 administration fee per year for the basic Share Dealing Account as well as for the tax-advantaged Stocks/Shares ISA account (you can hold both accounts at the same time for a single £36 charge). Halifax's tax-advantaged SIPP account also involves quarterly administration charges.
Broker | Inactivity fee | Withdrawal fee |
---|---|---|
Halifax | $0 | |
Fidelity International | $0 | |
AJ Bell Youinvest | $0 |
Check out a detailed analysis of all the fees, commissions, and other charges levied by Halifax for more information.
Safety
- High level of investor protection
- Banking background
- All clients belong to a top-tier financial authority
Deposit and withdrawal
- Credit/Debit card available
- Free withdrawal
- No deposit fee
Account opening
- Fast
- Fully digital
- No minimum deposit
Mobile app
Web trading platform
- User-friendly
- Clear fee report
- Two-step (safer) login
Product selection
FAQ
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.