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HSBC InvestDirect investment platform review

We analyse the charges levied by HSBC InvestDirect and ask whether the fund supermarket provides good value for investors

In this article
What is HSBC InvestDirect? What accounts and services does HSBC InvestDirect offer? Is HSBC InvestDirect good or bad?   What do customers say about HSBC InvestDirect?
What are HSBC InvestDirect's charges? Who is HSBC good for? Who is HSBC expensive for? Get top money-saving tips from Which?

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.

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.

 

 Sipps

 

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. 

 

✘ 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. 

 

Income drawdown

 

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

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.

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

Members can log in to see our review of HSBC. 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

3 out of 5

Customer service

3 out of 5

Investment information

2 out of 5

Available investments meet my needs 

3 out of 5

Value for money

3 out of 5

 

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.'

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

What are HSBC InvestDirect's charges?

Annual charges

  • £42 (£10.50 quarterly account fee)

Trading charges

  • £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.

However, given HSBC's poor customer scores and limited choice of investments, such investors may be better off looking at fixed fee brokers Halifax Share Dealing and Interactive Investor.

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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