The Halifax Share Dealing account lets you invest in a handful of international markets in addition to the usual range of UK stocks, bonds and funds. The international service is a bit too limited to be of interest to experienced and frequent international investors, but could be a useful solution for those who want to add some major US and European shares to their portfolio.
Halifax is a major provider of white label stockbroking services and is behind Motley Fool Share Dealing among others. Most of these will cost you more than using Halifax, but the firm’s iWeb brand is significantly cheaper at £5 per transaction rather than £12.50.
However, these fees aren’t your only cost – like most stockbrokers that will only let you settle and hold cash in sterling, you also pay a currency commission on the exchange rate used to calculate the sterling price each time you trade. Halifax charges a 1.25% margin, which is less than some rivals, but other options such as AJ Bell Youinvest, iDealing, Interactive Brokers and Saxo Bank have significantly lower FX costs.
| Online trading | Belgium, France, Germany, Italy, Netherlands, UK, USA |
| Telephone trading | As above |
| Typical online | £12.50 |
| Online details | £12.50 |
| Typical telephone | £25 |
| Telephone details | £25 |
| Account fees and inactivity fees | None |
| Custody charges for stocks | None |
| Dividend charges | None |
| Corporate action charges | None |
| Currency conversion charges | 1.25% margin |
| Hold cash in foreign currencies | No |
| Currencies allowed | GBP |
| Tax-advantaged accounts | ISA (administration fee of £12.5 per year), SIPP (administration fee of £18.75+VAT per quarter for accounts under £50,000, £37.50+VAT per quarter for accounts over £50,000) |
| Other products and services | Bonds, CFDs, funds |
| Minimum account size | None |
| Company location | UK |
| Further information | Visit the Halifax Share Dealing website |
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