Is Halifax free?

Halifax does charge a commission for real stock trading on US markets, so in this sense it is not a free-to-trade broker. However, it might still be a reasonable choice for some of you, as there are many other aspects other than commissions that are important when you choose a broker. If you wish to stick with Halifax though, then you will find the fees they charge below. Alternatively, you could check our article detailing the best zero commission brokers and how their apps scored in our test.

We should note that the payment-for-order-flow model, which is used by some zero-commission brokers to generate income (rather than relying on commissions), could potentially create a conflict of interest between you and your broker. This could result in trade execution (like routing your orders to specific market makers) that might be unfavorable for you under certain market conditions, especially when using market orders (as opposed to limit orders, which seem to be less affected).

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Halifax fees
Overview of Halifax fees and charges

When it comes to brokerage fees, Halifax is a mixed bag. To see how they may affect you, first you need to figure out your approach to trading - i.e. whether you are more of a buy-and-hold investor or if you want to trade frequently; or what type of assets and in what volumes you'll want to trade. Alternatively, use our questionnaire to help you tell whether Halifax fees are beneficial for you. Continue reading about Halifax fees and charges to see if this is the right broker for you, or if a similar broker like Fidelity International or AJ Bell Youinvest might suit you better.

Here's a high-level overview of Halifax's fees

Halifax Fees snapshot
Assets Fee level Fee terms
US stock fee High £9.50 per trade, 1.25% of exchange rate for international trades
EURUSD fee - Not available
US mutual fund fees Average £9.50 per trade
Inactivity fee Low No inactivity fee

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Halifax fees
Halifax fees explained

Online brokerages in general charge much lower brokerage fees than traditional brokerages do - this is largely because online brokerages' businesses can be much better scaled: from a purely technical standpoint, it doesn't make that much of a difference for them if they have 100 or 5,000 clients.

This is not to say, however, that they don't charge any fees at all. They make money by charging you various rates for various actions or events. Usually you need to keep an eye on the following three types of fees:

  • Trading fees - these are brokerage fees that you pay when you actually carry out a trade, like buying an Apple share or an ETF. What you pay is either a commission, a spread or a financing rate. Some brokers apply all of these.
    • A commission is either fixed or based on the traded volume.
    • A spread is the difference between the buy price and the sell price.
    • A financing rate or overnight rate is charged when you hold your leveraged positions for more than one day.
  • Non-trading fees. These are usually related to some operations you carry out in your account, such as depositing money, withdrawing money, or not trading for an extended period.

We compare Halifax fees with its closest competitors, Fidelity International and AJ Bell Youinvest.

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Halifax fees
Halifax trading fees

Halifax's trading fees are mixed, which means that some asset classes come with high trading fees - be sure to check these carefully.

Let's break down trading fees according to the different asset classes available at Halifax.

Trading fees

Halifax's trading fees are average.

Stock fees and ETF fees

Halifax has average stock trading fees.

Stock fees of a $2,000 trade
Halifax Fidelity International AJ Bell Youinvest
US stock $12.4 - $12.9
UK stock $12.4 $13.0 $12.9
German stock $12.4 - $12.9

Fund fees

Halifax fund fees are average.

Fees of a $2,000 fund purchase
Halifax Fidelity International AJ Bell Youinvest
Mutual fund $12.4 $0.0 $2.0
EU mutual fund - - $1.8

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Halifax fees
Halifax non-trading fees

When it comes to non-trading fees, Halifax is a rather cheap broker.

Non-trading fees include various brokerage fees and charges at Halifax that are not related to buying or selling assets. This can be a withdrawal fee, deposit fee, inactivity fee or account fee.

A high-level overview of how Halifax stacks up in terms of non-trading fees
Halifax Fidelity International AJ Bell Youinvest
Withdrawal fee $0 $0 $0
Deposit fee $0 $0 $0
Inactivity fee No No No
Account fee Yes No No

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Halifax fees
Halifax deposit fee

Usually, brokers don't charge anything for deposits, and Halifax is no different.

Halifax deposit methods
Halifax Fidelity International AJ Bell Youinvest
Bank transfer Yes Yes Yes
Credit/debit card Yes Yes Yes
Electronic wallets No No No
Deposit fee $0 $0 $0

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Halifax fees
Halifax withdrawal fee

Halifax generally doesn't charge a withdrawal fee.

Halifax withdrawal fees and options compared
Halifax Fidelity International AJ Bell Youinvest
Bank transfer Yes Yes Yes
Credit/debit card Yes Yes Yes
Electronic wallets No No No
Withdrawal fee for bank transfer $0 $0 $0

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Halifax fees
Halifax inactivity fee

Halifax does not apply an inactivity fee, which is great because your account won't be charged even if you do not trade for an extended period (like several months or years).

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Author of this article

Nicole Conrad

Author of this article

Nicole is an intern content contributor for Brokerchooser. She comes to Brokerchooser with experience and certification in Accounting, and she currently is pursuing graduate studies in Economic Policy. Nicole writes broker reviews to provide transparency for customers: highlighting brokers’ exceptional services and holding them accountable for questionable practices.

Nicole Conrad

Broker Analyst

Nicole is an intern content contributor for Brokerchooser. She comes to Brokerchooser with experience and certification in Accounting, and she currently is pursuing graduate studies in Economic Policy. Nicole writes 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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