Hargreaves Lansdown review: features and fees for individuals

Disclaimer: The information in this article is for reference purposes only. Wise does not offer to buy or sell stocks, and all information on this page should not be considered financial advice. All investment decisions should be made after thorough research and consultation with a qualified financial advisor. Remember that investments, even in low-risk funds, are never guaranteed and your capital is at risk.

If you’re looking to get started in investing, one of the easiest ways to do it is via an online investment platform. There are lots of them available in the UK, but which is the best option for you?

We’re here to help, with a detailed guide to the popular platform Hargreaves Lansdown.

The British company is FCA regulated and offers investment accounts, as well as ISAs, savings and pensions solutions.

Read on for everything you need to know about Hargreaves Lansdown as a UK investor. This includes info on supported currencies, features, fees and a step-by-step look at how to buy stock on the platform.

So, let’s dive right into our Hargreaves Lansdown review.

Who is Hargreaves Lansdown best for?

Hargreaves Lansdown is a good option for both new and more experienced do-it-yourself investors.

It offers a wide range of investments, along with a user-friendly mobile platform. This makes it a good choice for beginners, although some of its fees are a little higher than other platforms (more on this later).

Who can open an account?

To open a Fund and Share Account with Hargreaves Lansdown, you’ll need to be at least 18 years old and a legal resident of the UK (as well as a UK resident for tax purposes).¹

The company says that you can open an account online in minutes with just your debit card and National Insurance (NI) number.¹

What currencies are supported?

With a Hargreaves Lansdown Fund and Share Account, you can trade stocks in almost any currency. This lets you access global markets.

The platform will automatically convert the currency (for a fee - we’ll look at that shortly).

Hargreaves Lansdown features

Now, let’s take a look at the features on offer with a Fund and Share Account with Hargreaves Lansdown:¹

• User-friendly investment management online or via the HL mobile app
• Access to over 3,000 funds, including UK and overseas shares, corporate and government bonds, ETFs and more
• Transfer in investments held elsewhere
• UK-based customer support
• Extensive news, insights and support resources.

Hargreaves Lansdown fees

Fees and charges are among the most important things to look at when comparing investment platforms.

So, how much does it actually cost to invest using the Hargreaves Lansdown platform?

The table below shows the main fees for the Fund and Share Account at Hargreaves Lansdown. This includes account management fees, deposit and withdrawal fees, trading fees and foreign exchange fees (for trading in global markets).

However, it’s strongly recommended to check the full list of additional and third party fees before joining the platform.

Fee	Amount2
Annual account management fee	- None for shares, ETFs and bonds - 0.1% to 0.45% for funds (based on fund value)
Deposit fee	Free
Withdrawal fee	Free
Commission/trading fee	- £5.95 to £11.95 for shares -No trading fees for funds - +0.5% UK Stamp Duty
Currency conversion fee	0.25% to 1% depending on trade value

Does Hargreaves Lansdown have an account fee?

No, Hargreaves Lansdown doesn’t charge a fee for opening an account.

It also has no maintenance fee for holding any of the following in your account - UK and overseas shares, investment trusts, exchange-traded funds, VCTs, gilts and bonds.

If you hold funds, there’s an annual fee of between 0.1% and 0.45% depending on the value of the fund.²

Trading fees with Hargreaves Lansdown

Hargreaves Lansdown may not have an annual or monthly maintenance fee, but it does charge fees per trade. It calls these dealing charges.

How much does Hargreaves Lansdown charge for UK stocks?

To trade UK stocks and shares, you’ll pay a dealing charge of between £5.95 to £11.95. The fee will be based on the number of transactions you made in the previous month.

Here’s the breakdown:²

No of trades in the previous month	Fee per trade in the current month
0-9	£11.95
10-19	£8.95
20+	£5.95

So the more you trade with Hargreaves Lansdown, the cheaper your trading fees will be.

It’s also worth pointing out that UK Stamp Duty of 0.5% will apply to all purchases of UK shares.²

Hargreaves Lansdown withdrawal fees

Hargreaves Lansdown doesn’t have any withdrawal fees. So you can take out money from your account whenever you want, free of charge.

Hargreaves Lansdown commission fees

The platform doesn’t have separate commission fees for trading - it’s all bundled together under dealing charges.

These are £5.95 to £11.95 per trade, depending on how many trades you carried out with Hargreaves Lansdown the previous month.

How to buy stock with Hargreaves Lansdown

Ready to start trading? The first thing you’ll need to do is sign up for an account with Hargreaves Lansdown.

Then, follow these simple steps to start trading:³

1. Log in to your Hargreaves Lansdown account on desktop or mobile
2. Deposit funds into your account - you can do it with a debit card or bank transfer, either online, over the phone or by post/cheque.
3. Choose which market you’d like to trade in, and search for the shares you’d like to buy.
4. Get a live price, then click ‘trade’
5. Enter the transaction size
6. You’ll be shown the price and trading fees before confirming
7. Check the details and submit your order.
8. Your shares will be added to your account.

Buying stock in another currency?

Buying or selling a stock or shares that aren’t traded in your local currency? Don’t let the currency conversion trip you up. Convert your stocks or shares into any currency with our handy tool, and you’ll always know what you’re getting.

Check out our handy international stock ticker tool.

Explore international stocks 🌍

**Disclaimer: Wise's international stock ticker provides information for reference purposes only. This tool and platform does not offer to buy or sell stocks, and the data displayed here should not be considered financial advice. All investment decisions should be made after thorough research and consultation with a qualified financial advisor. We make no guarantees regarding the accuracy or completeness of the information provided, and users should exercise caution and seek professional guidance when making investment choices.

How is the Hargreaves Lansdown mobile app?

The HL mobile app is available from Google Play for Android devices and the App Store for iOS devices.

It was named ‘Best App’ at the Boring Money Awards 2023, and has a rating of 4.7 on the App Store (at the time of writing).⁴

Hargreaves Lansdown customer service

Need help? You can contact Hargreaves Lansdown customer service using the following methods:⁵

• Call 0117 321 4174 (investments team)
• Send a message through the Hargreaves Lansdown website or app.

Alternatives to Hargreaves Lansdown

There are lots of alternatives to Hargreaves Lansdown out there, including:

• Trading 212
• eToro
• IG Trading
• XTB
• Interactive Brokers (IBKR)
• Webull
• Charles Schwab
• Fidelity

FAQs about investing with Hargreaves Lansdown

Is the Hargreaves Lansdown platform good for beginners?

Yes, Hargreaves Lansdown is a good choice for new investors. It has a user-friendly platform and is easy and free to sign up. However, its trading fees may be higher than some other platforms.

How much does Hargreaves Lansdown charge per year?

There are no signup or maintenance fees for opening a Fund and Share Account with Hargreaves Lansdown, if you hold only stocks and shares, ETFs and similar products in your account.

But if you hold funds in your account, there’s an annual fee of between 0.1% and 0.45% depending on the value of the fund.²

How do you withdraw from Hargreaves Lansdown?

To withdraw money from your account, you’ll first need to nominate and verify your bank account. This involves receiving a verification code through the post.

Once you’ve done this, you can withdraw by following these steps:⁶

1. Login to your account
2. Go to ‘Cash’
3. Choose ‘Withdraw money’
4. Enter the amount and confirm.

Your money will be sent to your bank account via Faster Payments.

How long does it take to withdraw money from Hargreaves Lansdown?

As withdrawals are sent via Faster Payments, it could take as little as 2 hours to receive the money in your nominated bank account. It could even happen immediately.

Is there a fee to close a Hargreaves Lansdown account?

No, it’s completely free to close your account with Hargreaves Lansdown.²

Save money when selling or buying international stocks with Wise

If you are buying or selling international stocks and funds listed abroad, you might be hit with extra costs for cross border money transfers.

But if you use Wise money transfer, you can avoid hidden currency exchange markups. Open a Wise account and you’ll be able to conveniently manage your money in up to 40+ currencies. This means you can convert your money into other currencies when the time is right for you at the mid-market rate for only a small, transparent conversion fee*.

Not sure about using investment platforms? With a Wise account, you can choose how your money is used. Choose the balance or Jar then under Balance information, select ‘Earn’ and choose from one of three options.

1. Cash
2. Stocks
3. Interest

All your money is held as ‘cash’ by default, so you can’t earn a return on the money you spend, but it isn’t at risk in the market. If you choose the ‘Stocks’ option, we’ll invest some or all of your money in the Jar or balance in the index tracking fund we’ve chosen.

Finally, if you opt for Interest you can choose to give us permission to invest all or some of your money in the Jar or balance in the interest-earning fund we’ve chosen. This will depend on the currency.

With Wise Interest, you can help grow your international money and start earning a return on the pounds, euros and dollars** in your balance.

** Wise Interest and Stocks is only available to some UK, Singapore and some EEA residents and most businesses that are tax resident in the UK. To discover if you are eligible, check your account and if you can see the option to change your Balance or Jar from Cash to Interest or Stocks, then you are eligible. Capital at risk.

You’ll also have full access, at all times without the typical access fees or spend restrictions so you can continue using your money as usual.

We’ll only ever invest your cash in a fund of government-backed assets - so when the central bank rates change, your return does too. We will always track the central bank rate whereas other providers may cut rates faster, which means you’re more likely get a fairer rate.

Capital at risk. Growth not guaranteed. Wise Assets UK Ltd is authorised and regulated by the Financial Conduct Authority with registration number 839689. When facilitating access to Wise investment products, Wise Payments Ltd acts as an Introducer Appointed Representative of Wise Assets UK Ltd. Please be aware that we do not offer investment advice, and you may be liable for taxes on any earnings. If you’re uncertain, we urge you to seek professional advice. To find out more about the Funds, visit our website.

If you do decide to change how we hold your money, while the change is processing, the icon will temporarily display as "Pending" and this can take up to 2 business days, however may require an additional business day if you have ongoing transactions in progress or we are still processing previous changes.

Why not turn on Interest, to help boost your balance?

Get Wise and Invest from £1

Capital at risk. Growth not guaranteed. Wise Assets UK Ltd is authorised and regulated by the Financial Conduct Authority with registration number 839689. When facilitating access to Wise investment products, Wise Payments Ltd acts as an Introducer Appointed Representative of Wise Assets UK Ltd. Please be aware that we do not offer investment advice, and you may be liable for taxes on any earnings. If you’re uncertain, we urge you to seek professional advice. To find out more about the Funds, visit our website.

You may also be interested in:

• How Wise Interest works
• Using Wise Interest
• How do I use Wise Interest and Stocks?

Remember: Always seek professional advice when making financial decisions. Investments, even in low-risk funds, are never guaranteed and your capital is at risk.

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Disclaimer: The information in this article is for reference purposes only. Wise does not offer to buy or sell stocks, and all information on this page should not be considered financial advice. All investment decisions should be made after thorough research and consultation with a qualified financial advisor. Remember that investments, even in low-risk funds, are never guaranteed and your capital is at risk.

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Sources used:

1. Hargreaves Lansdown - Fund and Share Account
2. Hargreaves Lansdown - charges, fees & limits
3. Hargreaves Lansdown - how share dealing works
4. Hargreave Lansdown - the HL app
5. Hargreaves Lansdown - HL helpdesk
6. Hargreaves Lansdown - Fund and Share Account FAQs

Sources last checked on date: 16-Oct-2024