Hargreaves Lansdown alternatives

Looking for some alternatives to Hargreaves Lansdown? We've compiled a list for you!

Hargreaves Lansdown is big in the investment world, and it’s no surprise! It has a huge number of different options available to you, including share dealing, individual savings accounts (ISAs) and a self-invested personal pension (SIPP). In some cases, especially if you have a small amount to invest, you might prefer an alternative to Hargreaves Lansdown that offers similar options at a lower price.

Whether you save money by using an alternative to Hargreaves Lansdown will depend on what you plan to use it for. If you want a cheaper option for more than 20 trades per month then IG or Trading 212 would suit you. If you’re looking for a platform that has learning resources, then IG is a great alternative and has loads of resources available.

Here are some alternatives to Hargreaves Lansdown and a summary of what they offer.

interactive investor: Cheaper for investments over £27,000 (per year)

interactive investor is cheaper for individual trades at £7.99 per trade, but instead of a platform fee that’s worked out based on a percentage of what you’ve got invested, it’s got a set fee. Looking at provider fees alone, Hargreaves Lansdown works out cheaper for amounts up to around £26,650 – if you’re investing more than this, you may benefit from interactive investor’s set fees.

How we worked it out

Hargreaves Lansdown: 0.45% of amount invested
£26,650 x 0.45% = £119.93

interactive investor: £9.99 per month (regardless of amount invested)
£9.99 x 12 = £119.88

You can invest in the same financial instruments on the same stock exchanges. Both providers have ISAs and pensions available (although pensions are an extra £10 per month on interactive investor).

We’ve compared these providers in more detail if you want more information.

SimilaritiesDifferences
Invest in similar stock exchangesinteractive investor doesn’t offer advice
Invest in an ISACompany details and financials are less advanced with interactive investor
Invest in a pensionCheaper trades with interactive investor and free trades each month included in the flat fees, but it could end up costing you more
Access the same financial instruments: shares, bonds, funds, currencies
Invest in ready made portfolios

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IG: Similar platform with fewer educational resources

It’s cheaper to trade with IG than Hargreaves Lansdown – standard trades are £8 (or £10 for US shares), and can be reduced to £3 for UK shares and £0 for US shares if you trade regularly.

IG’s educational tools are better than Hargreaves Lansdown’s – it’s got the IG Academy which is a guided course to learn about trading.

SimilaritiesDifferences
Both providers have ISAs and pensions availableIG doesn’t offer financial advice
Invest in similar stock exchangesIG has a trading community to share trading ideas and discuss market opportunities
Access the same financial instruments: shares, bonds, funds, currencies
iPhone, Android and web apps
Both providers have a demo account

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Fineco: Similar to HL for having interactive charting tools

Fineco has cheaper trading fees than Hargreaves Lansdown, at an average of £2.95 per trade. It’s also got a cheaper platform charge of 0.25%, compared with Hargreaves Lansdown’s 0.45%.

You can invest in most of the same stock exchanges and the same financial instruments.

SimilaritiesDifferences
Invest in the main stock exchangesIf you’re looking for ready-made portfolios, Fineco doesn’t have this open. But you could look into a robo-advisor
iPhone, Android and web appsFineco doesn’t offer advice
Access the same financial instruments: shares, bonds, funds, currenciesHargreaves Lansdown has better learning tools than Fineco.
Both Hargreaves Lansdown and Fineco have interactive charting tools

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Saxo Markets: Similar trading fees and access to stock exchanges

Saxo and Hargreaves Lansdown are pretty similar providers, they have the same stock exchanges on offer and both providers have shares, ETFs, bonds and funds.

Saxo has better charting tools, as well as forums and a space to share trading tips and ideas.

SimilaritiesDifferences
Invest in an ISAThe ETF tools are better with Hargreaves Lansdown
iPhone, Android and web appsDoesn’t offer financial advice
Similar trading feesLarger minimum deposit
Invest in the same stock exchanges and financial instruments

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Summary: Top alternatives to Hargreaves Lansdown

  • interactive investor: Cheaper for investments over £100,000
  • IG: Similar platform with fewer educational resources
  • Fineco: Similar for having interactive charting tools
  • Saxo Markets: Similar for trading fees and access to stock exchanges

All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest. Past performance is no guarantee of future results. If you’re not sure which investments are right for you, please seek out a financial adviser. Capital at risk.

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