Why choose Halifax
Halifax is a UK stockbroker, part of Halifax (Bank of Scotland), which is owned by the Lloyds Banking Group.
It 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.
However, 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 4.1/5 rating based on analyzing 600+ criteria and testing via opening a live account.
- Low fees
- Good options for deposit/withdrawal
- Quick and easy account opening
Fees
- Low stock and ETF fees / Free stock trading
- No withdrawal fee
- No inactivity fee
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 stock 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 | $11.9 |
Fidelity International | $12.5 |
AJ Bell Youinvest | $12.4 |
Low 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 | $11.9 |
Fidelity International | $0.0 |
AJ Bell Youinvest | $1.9 |
Although low 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 rather than Halifax, 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 |
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