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Halifax Share Dealing investment platform review

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

In this article
Who is Halifax Share Dealing? What accounts and services does Halifax Share Dealing offer? Is Halifax Share Dealing good or bad? 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? Get top money-saving tips from Which?

Who is Halifax Share Dealing?

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

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

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

What accounts and services does Halifax Share Dealing offer?

The information below gives an at-glance view of the key things that the accounts and services Halifax Share Dealing offers. 

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 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.

 

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 Halifax Share Dealing good or bad?

To get an idea of how good or bad Halifax Share Dealing 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.

Which? members can exclusively read the results of our unique customer satisfaction survey.

Members can log in to see our review of Halifax Share Dealing. If you're not already a member, you can sign up to a one month trial for Which? Money for just £1 to access this review and thousands of others.

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?

'I've never experienced any problems with Halifax. Buying and selling shares is very easy, as is paying in and withdrawing cash. My only quibble is their research tools are not great.'

'Great if you know what you want to do. I use Hargreaves Lansdown for all research but keep most Investment Trusts and individual company shares with Halifax as their Isa is so cheap in comparison with HL.'

'Unlike Equiniti, the predecessor for my Isa, Halifax has been perfect with reinvesting dividends. Equiniti slipped up on several occasions and had to compensate me. Halifax keep me informed and up to date on changes resulting from legislation or FCA rules. The website is easy to navigate and find help both online and with an online conversation.'

Check out our guide on the best and worst investment platforms to see how Halifax Share Dealing compared with AJ Bell, Hargreaves Lansdown and other investment platforms.

What are Halifax Share Dealing's charges?

Annual charges

Trading charges

  • £12.50 to buy or sell shares, funds and investment trusts
  • £2 per trade for regular trades
  • No charge to transfer in and out of the Isa

We’ve estimated the cost of investing various sums in investment platforms over the course of a year in the table below. The costs assume you only buy funds (shares work out slightly cheaper with some companies), and make four purchases and four sales each year.

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 2020

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.

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

Who is Halifax Share Dealing expensive for?

If you deal regularly in unit trust and open-ended investment company funds, the £12.50 commission will ramp up your costs. Most fund supermarkets 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.

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