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Halifax Share Dealing investment platform review

We analyse the charges levied by Halifax Share Dealing and ask whether the investment platform provides good value for investors

In this article
What is Halifax Share Dealing? Is Halifax Share Dealing good? What do customers say about Halifax Share Dealing? What are Halifax Share Dealing's charges? Who is Halifax Share Dealing good for?
Who is Halifax Share Dealing expensive for? What accounts and services does Halifax Share Dealing offer? Is your money safe with Halifax? Get top money-saving tips from Which?

What is Halifax Share Dealing?

Halifax dates back to 1852, when a small group gathered in the Old Cock Inn, Halifax, to set up an investment and loan society. 

Today, Halifax is a well-known high street banking name that offers a variety of financial products and services. 

Halifax Share Dealing is the investment arm of the bank, and was launched in 1996.

Is Halifax Share Dealing good?

 

Which?'s rating for customer satisfaction is based on feedback from real customers. We ask investors to rate their current platform for the quality of its online tools, customer service and investment information. We also ask if it meets their needs, is value for money and whether they'd recommend it to someone else.

However, to be named a Which? Recommended Provider (WRP), customer satisfaction alone won't suffice; we also consider platform fees.

Members can log in to see our review of Halifax Share Dealing. If you're not already a member, join Which? and get full access to these results and all our reviews.

Aspect of service Star rating
Online tools Logged out padlock
Customer service Logged out padlock
Investment information Logged out padlock
Available investments meet my needs Logged out padlock
Value for money Logged out padlock
 

What do customers say about Halifax Share Dealing?

  • 'It is a no frills, good-value platform for experienced investors.'
  • 'It is easy to deal with and manage buying and selling, and very cost effective compared to the old system of having a broker.'
  • 'I liked Halifax [Share Dealing] because it had reasonable commission charges and no monthly/annual fee. They have recently announced that they are introducing a fee from next year which I am unhappy about. I will need to look around to see how competitive they will be.'

Find out more: check out our guide on the best and worst investment platforms to see how Halifax Share Dealing compares

What are Halifax Share Dealing's charges?

Annual charges

  • You can hold an Isa, a Share Dealing Account and a Share Builder (regular investment plan) for a single charge of £36 a year 
  • SIPPs cost £22.50 per quarter (if the SIPP value is £50,000 or less, or £45 if the value is above £50,000).

Trading charges

  • £9.50 online dealing commission per trade, covering: shares, funds, exchange-traded funds, investment trusts, bonds and gilts (government bonds)
  • You can trade regularly for £2 per trade with its scheduled investment service.

How much would I pay to invest with Halifax Share Dealing?

We’ve estimated the cost of investing with Halifax Share Dealing over the course of a year, as shown in the tables below.

Costs will vary depending on how much you invest, and whether you trade funds or shares. All assume you make four purchases and four sales each year, spread out over different months.

Amount invested Annual cost
£5,000 Logged out detail
£10,000 Logged out detail
£25,000 Logged out detail
£50,000 Logged out detail
£100,000 Logged out detail
£250,000 Logged out detail
£500,000 Logged out detail
£1m Logged out detail

Source: Analysis by Which? Money correct as of April 2021

Read our comparison of investment platform charges to see how much investing with Halifax Share Dealing costs compared with other platforms.

If you're thinking of using Halifax Share Dealing to take an income from your pension in a drawdown plan, read our comparison of pension drawdown charges

Who is Halifax Share Dealing good for?

Halifax Share Dealing is good for those with medium to large portfolios – above £100,000 it becomes the cheapest platform in our comparison, thanks to its low fixed fee. 

Given Halifax Share Dealing's considerable trading costs, this platforms suits investors who rarely change their portfolios.

Who is Halifax Share Dealing expensive for?

If you trade regularly, the £9.50 commission will ramp up your costs. Many other investment platforms offer free dealing in funds.

As Halifax's account management fee is fixed, investors with portfolios under £100,000 may want to consider the cheaper – and better-rated – AJ Bell Youinvest and Vanguard.

    What accounts and services does Halifax Share Dealing offer?

    The information below gives an at-a-glance view of the key things offered by Halifax Share Dealing's accounts and services. 

    Elements marked with a are offered by Halifax Share Dealing 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 such as 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.

     

    Sipps

     

    A Sipp is a pension where you have complete control over the investments you put your savings into.

     

    Advisory services*

     

    *offered in partnership with Schroders Personal Wealth. Advisory services allow you to access professional investment advice. 

     

    Banking services*

     

    *you must hold a Halifax current account. Banking services allow you to operate bank accounts, make transfers and make payments.

     

    Savings account*

     

    *you must hold a Halifax savings account. A savings account is somewhere you can put your money so it can grow in value. 

     

    Income drawdown

     

    Income drawdown allows you to take money out of your pension to live on in retirement.

     

    Junior Isa

     

    A junior Isa is a tax-free savings account for under 18s.

     

    Lifetime Isa

     

    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. 

     

    Annuity

     

    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. 

    Is your money safe with Halifax?

    If Halifax went out of business, you would be compensated by the Financial Services Compensation Scheme (FSCS).

    The FSCS will cover up to £85,000 of investments per person, per platform. You can claim for free online: there’s no reason to use a claims management company.

    You won’t be compensated for investments falling in value, or if a company in which you hold shares goes bust, unless this poor performance resulted from bad advice given by a regulated Independent Financial Advisor that has since gone bust. 

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