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Halifax Share Dealing Review

as of 14/01/2020 at 8:47 am

Holly's View

This is low-cost no frills share dealing for people who know what they’re doing and want to pay rock bottom. With a fixed fee of £12.50 a year plus transaction costs, traders or buy-and-holders who don’t give a toss about mobile onboarding, fancy apps or integrated research will love this. Anyone who wants a helping hand or likes to have a rummage around and understand what’s going on will find this lacking.

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Recommended For

Confident Investor

In a nutshell

Cheap option, particularly for larger portfolios

Lack of guidance and help

Website is functional but outdated

You Say

Your overall rating

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Don’t want to take our word for it? We ask existing customers and investors to rate their experience with the company – based on value for money, overall service and the website. We need at least 20 customer reviews before we add anyone to our Best Buys list.

Based on 17 reviews

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We love customer reviews because it’s the only way we can check the user experience across a meaningful sample of independent people. We collect all of your reviews and use them to calculate the overall “You Say” score for each provider. We also use this customer rating in our analysis, to make sure we’re not rewarding companies which look good online but fail to deliver in practice. Finally we use the aggregated data in our research and consultancy with providers, so we can tell them what customers love or hate and help them to improve.

Your Reviews

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What to Expect

  1. Ease of use
  2. Mobile & Apps
  3. Behind the scenes
  4. Ready-made

Navigating this site can be a bit frustrating.  Researching shares and funds is not intuitive and the fund information, supplied by Morningstar, is factual without offering much help about what to actually pick and why.  It’s difficult to zip through the website, as everything is cluttered and the content is extremely text heavy.

There is no investment app available. The website is not particularly mobile-friendly, especially when assessing potential fund choices. Investors are even advised to only attempt certain functions on desktop.

If you know what you want – to get in, trade and then get out – it works fine. And at £12.50 a year to hold an ISA here, with additional trading fees, it’s easy to see why they don’t spend a lot on development. Really depends on what the individual wants but the less confident will get lost.

3 Scottish Widows ‘multi-asset’ funds are available from parent groups Lloyds Bank. Newly launched in September 2019 there is no meaningful track record. Costs will be a maximum of 0.74% a year to hold these funds on the platform, including a service fee and all investment costs.

Investment Choice

Products

Stocks and Shares ISA

Investment Account

Pension

Investments available

Funds from other groups

Stocks and shares

Investment help

Robo advice / ready-made portfolios

Includes a shortlist of investments

Pick your own funds

Pick your own shares

The 'Geeky' Details

Provider details

Halifax charge a set £12.50 yearly admin fee for their Stocks & Shares ISA, making it a cheaper alternative for both medium and larger portfolios than pretty much anyone else. Annual costs of a pension of more than £50,000 are £180 plus transaction fees. The website lacks sophistication and user-friendliness, feeling quite old-school and stuffy.
They do offer 3 ready-made funds, varying in risk – however these funds are very new and lack any meaningful track record. There is also a shortlist of 86 funds available, produced by global research house Morningstar. The site also supports trading UK, US and European equities.
Trading fees are £12.50 per trade, falling to £2 a trade if you set up a regular trading plan.

Important Facts & Figures

Provider Size:

A sizeable platform, administering roughly £13bn.
Minimum amounts:
£0 minimum investment
12 month indicative performance:

N/A - Funds have less than one-year track record.

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