Hargreaves Lansdown

 

Hargreaves Lansdown is one of the UK’s largest stockbrokers and offers a good range of US, Canadian and European stocks in addition to London-listed shares, bonds and an extensive range of funds. This is a service that could be useful for investors who mostly buys UK stocks or funds, but also wants access to these international markets for occasional trades. The firm is consistently praised for high standard of customer service, which may be a strong selling point for less experienced investors in particular.

That said, it’s not especially competitive for investors who want to deal frequently in international stocks. Trades are placed via UK-based market makers (mostly Winterflood Securities) and the foreign currency share price is converted to sterling with a mark up of up to 1.5%.

That’s in line with the currency commission charged by TD Direct Investing – but at least with TD Direct, you can hold foreign currency in the account and minimise conversions. With Hargreaves Lansdown, everything has to be settled and held in sterling.

Markets available
Online tradingAustria, Belgium, Canada, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, UK, USA
Telephone tradingAs above
Dealing commissions and charges
Typical online£11.95
Online details1-9 deals per month £11.95, 10-19 deals per month £8.95, 20+ deals per month £5.95
Typical telephonemin £20
Telephone details1% (min £20, max £50)
Other fees and charges
Account fees and inactivity feesNone
Custody charges for stocksNone
Dividend chargesNone
Corporate action charges£10+VAT for rights issues and some other corporate actions
Currencies
Currency conversion chargesUp to 1.5% FX commission embedded in the sterling price quoted. Trades up to £24,999 1.5%; £25,000-49,999 1%; £50,000-99,999 0.5%; £100,000+ 0.35%.
Hold cash in foreign currenciesNo
Currencies allowedGBP
Other details
Tax-advantaged accountsISA (administration fee of 0.45% per year (max £45)), SIPP (administration fee of 0.45% per year (max £200))
Other products and servicesBonds, CFDs, funds, spreadbetting
Minimum account sizeNone
Company locationUK
Further informationVisit the Hargreaves Lansdown website

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 Posted by at 11:35 pm