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IG vs Hargreaves Lansdown
These are two of the bigger players in investing, but what are the differences between the two?
What's in this guide?
Investing has recently become a popular venture. Digital “robo-advisors” are popping up all over the place allowing everyone to try out investing, no matter how much experience or knowledge of the subject they have.
Two that have been around for quite some time are IG and Hargreaves Lansdown.
But how do they compare?
IG vs Hargreaves Lansdown
 |  | |
| Overall rating | ★★★★★ | ★★★★★ |
| Markets and products rating | ★★★★★ | ★★★★★ |
| Costs rating | ★★★★★ | ★★★★★ |
| Mobile and web features rating | ★★★★★ | ★★★★★ |
| Learning resources and tools rating | ★★★★★ | ★★★★★ |
| Keep in mind | 76% of retail CFD accounts lose money | 76% of retail CFD accounts lose money |
| Go to site More Info | Go to site More Info |
What markets and products do they cover?
| | |
| Rating | ★★★★★ | ★★★★★ |
| Risk assessment quiz | ||
| 3 or more portfolios | ||
| 5 or more portfolios | ||
| ETFs | ||
| Stocks and shares ISA | ||
| Pension (SIPP) | ||
| Lifetime ISA (LISA) | ||
| Junior products | ||
| Ethical investing | ||
| Go to site More Info | Go to site More Info |
Fees, costs and charges
| | |
| Rating | ★★★★★ | ★★★★★ |
| Cost of investing £10,000 | £72.00 | £45.00 |
| Cost of investing £100,000 | £220.00 | £250.00 |
| Cost of investing £1m | £2,200.00 | £1,000.00 |
| Average cost per £100 | £0.39 | £0.27 |
| Go to site More Info | Go to site More Info |
Mobile and web features
| | |
| Rating | ★★★★★ | ★★★★★ |
| Desktop/web app | ||
| iPhone app | ||
| Android app | ||
| Share price notifications | ||
| Go to site More Info | Go to site More Info |
Learning resources
| | |
| Rating | ★★★★★ | ★★★★★ |
| Guides and information on products available | ||
| Videos and walkthroughs | ||
| Demo account | ||
| Advice | ||
| Go to site More Info | Go to site More Info |
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IG vs Hargreaves Lansdown: Costs
IG and Hargreaves Lansdown both charge based on how much you invest. They have very similar costs, but which one you decide to go with will depend on how much you are investing.
IG’s fees are pretty simple. For its “Smart Portfolio”, it charges 0.72% on investments up to £50,000 made up of a 0.50% IG management fee, an average of 0.15% in fund costs and 0.07% for transaction costs. For investments over £50,000 it charges 0.22%, made up of an average of 0.15% in fund costs and 0.07% in transaction costs. You pay no IG management fee over £50,000.
Hargreaves Lansdown has a very similar charging structure. It charges 0.45% on investments up to £250,000, 0.25% on investments between £250,000 and £1 million, 0.1% on investments between £1 million and £2 million and investments over £2 million are free.
What does all that actually mean?
If you invest £10,000 with IG, then you’ll spend £72 (in a year).
If you invest £10,000 with Hargreaves Lansdown then you’ll spend £45 (in a year).
Many investment platforms have calculators that help you work out the costs of your investments based on a figure you enter. Neither Hargreaves Lansdown or IG had this, so we did it the old fashioned way, with a calculator, pen and paper, using the costs outlined above.
Our verdict: Is IG better than Hargreaves Lansdown?
Both of these platforms are suitable for comprehensive investing, with share dealing and trading available. They both cater for less experienced investors who are looking for ready-made portfolios. Hargreaves Lansdown covers all bases with basic investing, share trading, share dealing, a pension, lifetime ISA and ready-made portfolios. It also has competitive prices, as you can see above. While IG offers most of these, you can’t get financial advice with IG and can’t open a lifetime ISA.
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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. Capital is at risk.
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