Halifax Alternatives

The best alternatives to Halifax are

1. Fidelity International - UK-based stockbroker
2. AJ Bell Youinvest - UK discount broker
3. Hargreaves Lansdown - UK-based stockbroker
4. Charles Stanley Direct - UK-based stockbroker

Let's see in a bit more detail how the Halifax alternatives compare to Halifax and each other:

Why are these brokers considered good alternatives to Halifax? There are many areas based on which Halifax can be compared with others. When we say a given online broker is a good alternative to Halifax we mean these brokers are comparable in the following areas:

• The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
• The type of clients they target, i.e. beginners, experienced investors, or day traders.

Not sure which broker to choose? For a tailored recommendation, check out our broker finder tool. Answer 4 simple questions and get a list of the most relevant brokers.

Halifax alternatives recommendations

Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:

• Halifax is recommended for beginners and long-term investors
• Fidelity International is recommended for beginners and long-term investors focusing on the uk market
• AJ Bell Youinvest is recommended for beginners and investors with small and medium portfolios focusing on the uk market
• Hargreaves Lansdown is recommended for beginners and buy-and-hold investors looking for great customer service and easy-to-use trading platforms
• Charles Stanley Direct is recommended for beginners and buy-and-hold investors focusing on the uk market

Important factors of finding Halifax alternatives

So far BrokerChooser has reviewed 101 online brokers in detail, which gives this comparison a solid starting point.

Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we

• open a live account
• check over 100 criteria, with weighting based on readers' preferences
• refresh data regularly

Whether Halifax or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:

Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. Halifax is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost Halifax alternative.

Account opening. To open an account some brokers require at least €50,000 to be invested, while others don't set a minimum first-time deposit. The time it takes to open your account can be very different as well. At Halifax this is not a problem as you can have it ready on the same day you registered.

Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you can make a deposit with a credit card at Halifax, this might not be the case at its alternatives.

Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.

Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given Halifax alternative is a must.

Now let's dive into the details of how Halifax and its alternatives perform in the most important areas!

Fidelity International is a UK-based stockbroker. It was originally established in 1969 as the international investment subsidiary of US-based Fidelity Investments before being spun off as an independent business in 1980. It is a privately-held company and is regulated by the UK's Financial Conduct Authority (FCA). 

Fidelity International is considered safe because it has a long track record and is regulated by a top-tier financial authority.

Recommended for beginners and long-term investors focusing on the uk market

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Fees

3.4

Fidelity International has low fund fees, but stock and ETF trading fees are average. It has low non-trading fees as well: no inactivity or withdrawal fees are charged.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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Account opening

3.0

Fidelity International's account opening process is quick and easy if you can be verified electronically. However, if this fails, you have to send copies of your documents by post.

If you are interested more in Fidelity International minimum deposit, this overview will help you.

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Deposit and withdrawal

3.8

Depositing and withdrawing money is easy and free at Fidelity International. However, GBP is the only account currency and electronic wallets are not available.

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Web trading platform

3.7

Fidelity International has a good, user-friendly web platform that is easy to navigate. However, it is not customizable and only limited order types are available.

Learn more about Fidelity International's web trading platform in the detailed Fidelity International review.

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Markets and products

1.4

Fidelity International has a limited product portfolio, covering only stocks and ETFs traded on the London Stock Exchange. However, there is a good selection of funds available.

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Verdict

Fidelity International is a UK financial brokerage regulated by the FCA, a top-tier financial authority.

It is a great broker for beginners, as its platform is user-friendly and easy to navigate, and there are many useful research tools to guide you along the way. It is best suited for long-term, buy-and-hold investors with substantial assets or users with a regular savings plan, and has low trading and non-trading fees.

Its main drawback is its limited product portfolio, which includes only UK stocks, ETFs and mutual funds. Also, a relatively high minimum deposit is required and you can't use electronic wallets for adding funds.

If you are looking to start long-term investing and are OK with a limited selection of products, Fidelity International is a good choice for opening an account.

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AJ Bell Youinvest was founded in 1995 and it is one of the biggest discount brokers in the UK. It is regulated by the Financial Conduct Authority (FCA) and it is  listed on the London Stock Exchange (LSE).

AJ Bell Youinvest is considered safe because it has a long track record, it's listed on a stock exchange, and is regulated by a top-tier regulator.

Recommended for beginners and investors with small and medium portfolios focusing on the uk market

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Fees

3.2

AJ Bell Youinvest has low fund fees and the non-trading fees are also reasonable. Deposit and withdrawal are free. On the negative side, you will be charged a custody fee based on your trading history and asset volume.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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Account opening

5.0

Expect a quick, user-friendly and fully digital account opening process without a required minimum account balance. The downside: it's only available to UK residents.

If you are interested more in AJ Bell Youinvest minimum deposit, this overview will help you.

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Deposit and withdrawal

3.8

Deposits and withdrawals are free and the process is user-friendly. However, accounts are available only in GBP and one-off deposits cannot be sent via bank transfer.

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Web trading platform

3.7

AJ Bell Yoinvest's web platform is user-friendly and well-designed. Two-step login is available and the fee reports are clear. On the negative side, customizability is limited and price alerts are not supported.

Learn more about AJ Bell Youinvest's web trading platform in the detailed AJ Bell Youinvest review.

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Markets and products

3.1

AJ Bell Youinvest has a limited product portfolio, including stocks, ETFs and funds. Popular assets like forex, options, futures, and CFDs are missing. Bonds can be traded only via phone orders.

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Verdict

AJ Bell Youinvest is one of the biggest UK discount brokers regulated by the top-tier FCA.

The broker's fees are average and the account opening process is fast and easy. The web and mobile trading platforms are user-friendly. Its customer service is great, you will get relevant answers in a short time.

There are some drawbacks though. You can trade only stocks, ETFs, and mutual funds and technical research tools are limited.

As there is no minimum deposit and no inactivity fee, feel free to try AJ Bell Youinvest.

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Hargreaves Lansdown is one of the biggest UK-based stockbrokers. It was founded in 1981 and is regulated by the top-tier Financial Conduct Authority (FCA). In addition, it is a listed company and a constituent of the FTSE 100, a stock index of the biggest listed companies in the UK.

Hargreaves Lansdown is considered safe because it has a long track record, is regulated by a top-tier authority, and is listed on a stock exchange.

Recommended for beginners and buy-and-hold investors looking for great customer service and easy-to-use trading platforms

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Fees

3.1

Hargreaves Lansdown has low fund and bond trading fees and there is no inactivity fee. However, the stock and ETF fees are high.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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Account opening

4.6

Hargreaves Lansdown's account opening process is quick and easy as long as you're in the UK and electronic verification works. If this fails or you live outside the UK, you have to send photocopied documents by post.

If you are interested more in Hargreaves Lansdown minimum deposit, this overview will help you.

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Deposit and withdrawal

3.8

Depositing and withdrawing money is easy and free with a debit card or fast bank transfers at Hargreaves Lansdown. Unfortunately, accounts are available only in GBP.

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Web trading platform

3.7

Hargreaves Lansdown's web platform is user-friendly and easy to use. However, it lacks a two-step login and customizability.

Learn more about Hargreaves Lansdown's web trading platform in the detailed Hargreaves Lansdown review.

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Markets and products

3.0

Hargreaves Lansdown offers a lot of funds, and you can access a good number of stock markets. However, other products such as forex, CFDs, options or futures are not available.

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Verdict

Hargreaves Lansdown is one of the biggest UK brokers and is regulated by a top-tier authority.

Its customer service is great, providing you with quick and relevant answers. The web and mobile trading platforms are user-friendly and the educational tools are high-quality.

It has some drawbacks though: it has high fees for stocks and ETFs, account opening for clients outside the UK is not fully digital, and there is only one base currency (GBP).

As there is no minimum deposit and no inactivity fee, Hargreaves Lansdown is a good choice for opening a trading account.

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Charles Stanley Direct is a UK-based stockbroker founded in 1985. It is regulated by the top-tier UK Financial Conduct Authority (FCA). In 2022 it was acquired by Raymond James Financial, Inc., which is an NYSE-listed financial services company, a constituent of the blue-chip S&P 500 index.

Charles Stanley Direct is considered safe because it has a long track record, its parent company is listed on a stock exchange, and is regulated by a top-tier regulator.

Recommended for beginners and buy-and-hold investors focusing on the uk market

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Fees

3.4

Charles Stanley Direct has low fund fees and low non-trading fees, but its stock and ETF fees are not the most competitive on the market.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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Account opening

4.6

If you have a UK passport, the account opening procedure is quick and easy. If not, you have to mail in photocopied documents, making the process less convenient.

If you are interested more in Charles Stanley Direct minimum deposit, this overview will help you.

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Deposit and withdrawal

3.8

Depositing and withdrawing money is easy and free with bank transfer at Charles Stanley Direct. Unfortunately, accounts are only available in British pounds.

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Web trading platform

3.5

The web trading platform is user-friendly and delivers some of the usual basic functions. However, it lacks a safer two-step login, customizability and advanced order types.

Learn more about Charles Stanley Direct's web trading platform in the detailed Charles Stanley Direct review.

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Markets and products

1.4

Charles Stanley Direct offers only UK stocks, ETFs, mutual funds and bonds. International stocks or bonds can be traded offline, but options, futures or CFDs are missing completely.

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Verdict

Charles Stanley Direct is a UK stockbroker regulated by the FCA. Its parent company Raymond James Financial, Inc. is listed on the New York Stock Exchange.

On the positive side, it has low fund fees. Customer service is great, offering quick and useful answers. Deposit and withdrawal are easy and free.

The service has some drawbacks though. You can only trade UK stocks, ETFs and mutual funds online. Educational and research tools are limited.

As the minimum deposit is low and no inactivity fee is charged, feel free to try Charles Stanley Direct.

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Halifax Share Dealing ("Halifax") is a UK-based stockbroker regulated by the Financial Conduct Authority (FCA). It was founded in 1996 as a subsidiary of Halifax Bank and later became a division of Bank of Scotland. During the 2009 financial crisis, Bank of Scotland was acquired by Lloyds Banking Group, thus Halifax now ultimately is a member of this group, while still operating as a division of Bank of Scotland. Lloyds is publicly traded and listed on the London Stock Exchange, which helps keep it and its affiliates transparent and accountable.

Halifax only accepts UK residents as clients, but it does offer access to some international stock exchanges. We consider it a reputable broker because of its banking background, the parent company's transparent financial reporting and stock exchange listing, and its long track record.

Recommended for beginners and long-term investors

Fees

4.5

Halifax has low fees for stocks/ETFs, including commission-free international trades. On the negative side, there is an annual account fee.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k

Account opening

4.0

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.

Learn more about Halifax minimum deposit here.

Deposit and withdrawal

3.8

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.

Web trading platform

2.8

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.

Learn more about Halifax's web trading platform in the detailed Halifax review.

Markets and products

2.9

Halifax offers stocks and ETFs from multiple international exchanges, as well as a good selection of funds. However, you cannot trade with other products, such as forex, CFDs or cryptos, and there are also no options or futures.

Verdict

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.

However, we believe that Halifax has not caught up with the competition. It has weak product selection and the customer support is very poor, it lasts very long for solving a problem. There are no mobile or desktop platforms available.

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

Based on our analysis, there are several good alternatives to Halifax. They all offer similar products and target similar customers. Here's a recap of the results in a table.

Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.