What is HSBC InvestDirect?
HSBC presents DIY investors with a slightly disjointed fund supermarket offering, with fund investing available through its 'Global Investment Centre' brand and a wider range of stocks, trusts, gilts and funds under its InvestDirect banner.
This article will focus mainly on the InvestDirect service.
You'll need to be an HSBC current account customer and registered for online banking to get started.
- Find out more: read our guide to the best and worst investment platforms
What accounts and services does HSBC InvestDirect offer?
The information below gives an at-glance view of the key things that the accounts and services HSBC InvestDirect offers.
Elements marked with a ✓ are offered by HSBC InvestDirect and those marked with a ✘ are not.
✓ General investment account
A general investment account that can hold different types of investments but doesn’t give tax-free benefits like pensions and Isas.
✓ Stocks and shares Isa
A stocks and shares Isa is a tax-free account that allows you to put your money in a range of investments.
✓ Advisory services
Via Wealth Advice Centre or Premier Financial Advice. Advisory services allow you to access professional investment advice.
✓ Banking services
Through your HSBC current account. Banking services allow you to operate bank accounts, make transfers and make payments.
✓ Savings account
A savings account is somewhere you can put your money so it can grow in value.
✘ Junior Isa
A junior Isa is a tax-free savings account for under 18s.
A Sipp is a pension where you have complete control over the investments you put your savings into.
✘ Lifetime Isa
A lifetime Isa is a tax-free savings or investment account designed to help people aged 18-39 buy their first home or save for retirement.
An annuity is an insurance product which allows you to swap your pension savings for a guaranteed regular income that will last for the rest of your life.
✘ Income drawdown
Income drawdown allows you to take money out of your pension to live on in retirement.
- Find out more: how investment platforms work
Is HSBC InvestDirect good or bad?
To get an idea of how good or bad HSBC InvestDirect is, we asked its customers.
Which?'s rating for customer satisfaction is based on feedback from real customers. The score is made up of a customer's overall satisfaction with the brand, and how likely they are to recommend that brand.
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What do customers say about HSBC InvestDirect?
- 'Limited selection of funds available from other managers. Fees are generally higher except on HSBC tracker funds. Poor discounts negotiated/offered on fees charged by other fund managers (other than HSBC in-house funds). Only reason I have funds invested with them is to qualify for their Premier Account facility.'
- 'Technical problems with the website which prevented access for a limited period. Not a very user friendly facility to see your investment portfolio and how it is performing or to access information on other potential investments not managed by HSBC.'
What are HSBC InvestDirect's charges?
- £42 (£10.50 quarterly account fee)
- £10.50 to trade UK shares and investment trusts online, falling to £7.95 for frequent traders
- £39.95 for gilts
- €29.95 for shares denominated in euros
- $29.95 for US Shares
- £15 per line of stock to transfer out
Read our comparison of investment platform charges to see how much investing with Vanguard costs for a range of portfolios.
Who is HSBC good for?
With its fixed fee, HSBC will be more suitable for investors with medium to large portfolios (over £50,000), who trade infrequently.
Who is HSBC expensive for?
Investors with small to medium portfolios who trade frequently will lose out as a result of HSBC's fixed-fee structure with its fixed trading costs.
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