20,0%
Top 3
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Top 5
7,0%
Top 10
5,0%
Top 20
1,0%
Top 40
0,5%
Top 100
0,2%
Top 100+
0,05%
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Halifax Review 2024
Minimum
deposit:
deposit:
- $1
Trading platform:
- Web Trading platform
Regulation:
- FCA
- FSCS
Minimum
deposit:
deposit:
- $1
Trading platform:
- Web Trading platform
Leverage:
- 1:1
Trading features:
- Margin trading is not available, transactions can only be made through the web terminal on the site
Summary of Halifax Trading Company
Halifax is a moderate-risk broker with the TU Overall Score of 5.17 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Halifax clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews. Halifax ranks 49 among 79 companies featured in the TU Ranking, which is based on the evaluation of 100+ criteria and a test on how to open an account.
Halifax is a broker for UK residents and residents who are interested in medium- to long-term investment.
Halifax is a subsidiary of the British financial conglomerate Lloyds Banking Group, which provides banking and brokerage services to UK tax residents. It was founded in 1852 in Halifax, West Yorkshire as a construction investment company. Halifax has been providing banking services since 1986, and in 1997 it became a public limited company (Plc). Today, the FCA-regulated holding firm offers clients trading in UK and international securities, as well as free access to research tools and investment ideas from global analytics providers.
| 💰 Account currency: | GBP |
|---|---|
| 🚀 Minimum deposit: | From £1 for self-investing. From £2,000 for investments in ready-made portfolios |
| ⚖️ Leverage: | 1:1 |
| 💱 Spread: | From £2 |
| 🔧 Instruments: | Shares (UK and international), mutual funds, exchange-traded funds (ETFs), investment trusts, bonds, gilts, IPOs (through PrimaryBid partner) |
| 💹 Margin Call / Stop Out: | No |
👍 Advantages of trading with Halifax:
- There are no minimum deposit requirements for self-investing accounts. Investors who form their own portfolio of assets can start with any amount.
- Wide range of securities: the UK and international stocks, exchange-traded funds (ETFs), investment trusts, and bonds.
- Supervision by the Financial Conduct Authority (FCA, 169628).
- Investment accounts can be opened not only by UK tax residents. Registration is also available to citizens of other countries living in the UK at the moment of opening an account.
- There are no commissions for making a deposit or withdrawing funds.
- Dealing fees are reduced to £3.50 on special offer days.
👎 Disadvantages of Halifax:
- High trading fees — £9.5 per trade with all financial instruments.
- Deposit at least £2,000 on the account balance for investments in ready-made portfolios.
- The company doesn’t provide mobile and desktop terminals for trading. Transactions can only be made through the web platform on the site.
Evaluation of the most influential parameters of Halifax
Geographic Distribution of Halifax Traders
Popularity in
95.93%
GB
0.33%
US
0.31%
PL
0.3%
ES
0.17%
FR
0.96%
Others
User Satisfaction i
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Expert Review of Halifax
The Halifax broker is experienced in banking and investment solutions, as well as wealth management services. It provides services not only to experienced investors but also to novice traders in the field of securities trading. The company is supervised by the FCA and participates in the FSCS scheme, which is proof of its reliability and fulfillment of its obligations to its customers.
The company allows the trading of UK and international stocks, funds, bonds, and IPOs. It should be noted that Halifax UK does not support margin trading, so its clients use only equity capital for investment. Day trading is not officially prohibited, but the functionality of the trading platform is limited, so it is not suitable for intraday traders.
Halifax offers a wide range of market research services. At the same time, there is little educational information on the broker's website, and there are no tools for technical and fundamental analysis. Another disadvantage of Halifax is the lack of desktop terminals and mobile trading applications. However, the main disadvantage of the broker is high trading commissions and extra fees for servicing accounts.
Dynamics of Halifax’s popularity among
Traders Union’s traders, according to 2023 data
Investment Programs, Available Markets, and Products of the Broker
Halifax is focused on investors, not active traders, and therefore offers products for medium- and long-term investment. You can choose an acceptable scheme of work for yourself, or create your own portfolios, or invest in ready-made diversified funds.
Halifax’s ready-made investment funds
Halifax offers clients to invest in its ready-made portfolios, which consist of investment funds. Professional fund managers merge investors' money and invest on their behalf in various assets such as stocks, real estate, bonds, and cash. Halifax-ready investments portfolios are available to all existing internet banking customers who have opened an Investment Account or Investment ISA. The broker offers investors three types of portfolios with different levels of risk:
-
Steady. A low-risk portfolio with 60.5% bonds, 25% equities, 8.5% real estate, 6% other assets. Commission fees are 0.61% per year.
-
Balanced. A balanced portfolio with an average level of risk is achieved through equitable investment between assets with lower risk (i.e., bonds) and assets with higher risk (i.e., stocks). The portfolio includes 49% of stocks, 36.5% of bonds, 8.5% of real estate, and 6% of other assets. The investor pays 0.61% of the invested funds for management. The commission is charged once a year.
-
Dynamic. A high-risk portfolio that potentially offers the highest returns. It is formed with a focus on equity investments (75% of all assets). It also includes bonds (15%), real estate (5%), and other assets (5%). The annual management fee is 0.62% of the investment amount.
The investor should replenish the account balance for £2,000 or more to invest in ready-made portfolios. You can start investing from £100 per month. Halifax's ready-made investments are designed for the medium and long terms, so the investor should plan to hold them for at least 5 years.
Important!
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Halifax’s affiliate program
The company doesn’t offer partner remuneration to a private investor.
Trading Conditions for Halifax Users
Clients of Halifax can only trade securities using their own funds and margin trades are not permitted. There is no minimum deposit requirement to open an account. There is no commission for inaction. A subscription fee is charged on all types of investment accounts. Accounts that are not subject to income tax are available. The brokerage commission for online trading is £9.5 per trade. When investing regularly, the fee is reduced to £2 per trade.
$1
Minimum
deposit
1:1
Leverage
24/7
Support
| 💻 Trading platform: | Web trading platform |
|---|---|
| 📊 Accounts: | Investment Account, Share Dealing Account, ShareBuilder, Stocks and Shares ISA, Investment ISA, Self-Invested Personal Pension (SIPP) |
| 💰 Account currency: | GBP |
| 💵 Replenishment / Withdrawal: | Debit cards (replenishment only), wire transfer, check from UK bank in the case of the Isle of Man or the Channel Islands |
| 🚀 Minimum deposit: | From £1 for self-investing. From £2,000 for investments in ready-made portfolios |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | No data |
| 💱 Spread: | From £2 |
| 🔧 Instruments: | Shares (UK and international), mutual funds, exchange-traded funds (ETFs), investment trusts, bonds, gilts, IPOs (through PrimaryBid partner) |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No data |
| 📱 Mobile trading: | No |
| ➕ Affiliate program: | No |
| 📋 Orders execution: | No |
| ⭐ Trading features: | Margin trading is not available, transactions can only be made through the web terminal on the site |
| 🎁 Contests and bonuses: | Yes |
Halifax Commissions & Fees
Information
We’ve carefully studied the trading terms of Halifax and found that the broker only deducts trading commissions. There are no deposit, withdrawal, or inactivity fees, but there is a flat service charge. There is a commission of £36 withdrawn annually (in April) on Stocks and Shares ISA, Share Dealing Account, and the ShareBuilder accounts. On SIPP, a fee of £22.5 or £45 (depending on the amount invested) is withheld quarterly. The trading commission for all types of assets is £9.5 per trade. The trade’s value is reduced to £2 with regular investments. Trading in international stocks is charged a currency conversion fee of 1.25% of the transaction amount. Panel on Takeovers and Mergers (PTM) charges £1 for every trade over £10,000.
| Account type | Spread (minimum value) | Withdrawal commission |
| Stocks and Shares ISA | From £2 | No |
| Share Dealing Account | From £2 | No |
| ShareBuilder | From £2 | No |
| Investment ISA | From £9.5 | No |
| Investment Account | From £9.5 | No |
| SIPP | From £9.5 | No |
All transactions in UK securities are subject to a 0.5% stamp duty (excluding AIM stocks). Some Spanish stocks are subject to a transaction tax of 0.2% of the trade amount.
We compared Halifax fees to those of other stockbrokers to determine the level of Halifax UK brokerage fees. The fee for trading in shares listed on national exchanges was analyzed. As for Halifax, we analyzed the commission for transactions with UK stocks, and with US stocks for Ally and Charles Schwab.
| Broker | Average commission | Level |
| Halifax | $5.75 | Medium |
| Charles Schwab | $11 | High |
| Ally Bank | $4 | Low |
Detailed Review of Halifax
Halifax is a stockbroker for investors with different levels of trading knowledge and capital. Its services are used by clients who invest in securities at their own discretion, as well as those who prefer ready-made portfolios of assets, compiled by professionals taking into account the level of risk and the amount of potential income. Halifax provides wealth management services to investors who own capital exceeding £100,000.
Data on the Lloyds Banking Group holdings as of the first quarter of 2021:
-
27 million people — the number of active clients.
-
£1.4 billion in profit after taxation.
-
£3.7 billion - net income.
-
13.9% — Return on Tangible Equity (RoTE).
Halifax UK is a reliable broker focused on medium- and long-term investment
Being a client of the company, you will get free access to a research center with tools for advanced market research and investment performance tracking. Halifax also provides investment insights such as research and articles from Morningstar, the world's leading independent analysis provider.
The broker's clients make transactions with securities in the web terminal. These can be found in the personal account. Investment account summaries are also available in online banking. The broker doesn’t provide mobile applications or desktop trading terminals. The web platform capabilities are limited such that you cannot customize it for yourself. At the same time, its functionality allows you to search for securities by ticker or name, set price alerts and notifications, and create your own Watchlist.
Useful Halifax services:
-
TradePlans. Automated trading tools executing a request to buy or sell an investment at a price set by the investor. The broker offers limit order, stop loss, target setting, range trading, and price locking.
-
Investor Meet Company. A service that allows private investors to view financial statements, as well as live interactive presentations and interviews with CEOs of UK-listed companies.
-
Search for shares. Search tool for UK, US, and European stocks. The following filters are available: by name, alphabet, index, sector, market capitalization.
-
Funds Center. The service for a detailed search of funds by name, sector, management company, annual profitability for 5 years, and current expenses, etc.
-
ETF Center. A page for searching for ETFs by name, supplier, region, price, level of risk, 5-year return, size of current expenses.
-
Investment Trust Center. Selection tool for investments by name, provider, AIC sector, previous close, risk level, 5-year return and current expense.
-
Market News. A page for searching current events: news (market, company, economy) and information summaries from the News Service agency.
Advantages:
1
There are 4 types of screeners on the broker's website to search for potentially profitable investment assets.
2
Access to stocks listed on the stock exchanges of London, New York, Amsterdam, Paris, Brussels, Frankfurt, and Milan.
3
Wide range of funds: over 500 ETFs, 2,000 mutual funds, and 200 investment trusts.
4
Support for different types of orders such as market, limit and stop loss.
5
Access to IPO trades through partner platform PrimaryBid.
The broker doesn’t charge a fee for using the terminal or research tools. Investment ideas and news are also completely free of charge.
How to Start Making Profits — Guide for Traders
For individual clients, the Halifax stockbroker offers 6 types of accounts, which are designed for medium- and long-term investments. Broker margin trading is not supported.
Account types:
Account Type
Description
Share Dealing Account
is an account that provides access to the full range of stocks, ETFs, and funds. The commission for online trading is £9.50 per trade and £2 per trade for scheduled recurring investments. A fixed administration fee is £36 per year.
The broker recommends this account to novice investors, as well as for those who already have an active ISA.
ShareBuilder
is an account for trading UK stocks, exchange-traded funds (ETFs), or investment funds with reduced commissions for planned investments. The administrative service charge is fixed at £36 per year. The commission is only £2 per trade
with monthly investments from £20 and connecting a regular investment plan.
Stocks and Shares ISA
is an account for self-investing in stocks, ETFs, and funds. The maintenance deduction is £36 per year. It allows you to invest up to £20,000 annually without paying capital gains and income taxes. Trading online will cost £9.50 per
trade. If you invest regularly, then the value of the transaction is reduced to £2.
Investment ISA
is an account for those who want to invest in ready-made portfolios of assets without charging income tax. The initial deposit is £2,000, the minimum investment amount is £100 per month. The service charge is 0.24%, the maximum permanent
commission is 0.28%. Transaction costs vary from fund to fund but do not exceed 0.12%.
Investment Account
is the account that allows you to invest in ready-made funds if you have exceeded the ISA limit for the tax year. The terms are similar to those offered by the Investment ISA account.
Self-Invested Personal Pension (SIPP)
is a flexible and tax-efficient retirement account with low maintenance fees. The quarterly charge for the account is £22.5 (if the balance is less than £50,000) or £45 (if the balance exceeds £50,000). With SIPP, you can invest in
UK and international stocks, bonds, and over 2,500 funds. There are no capital gains or income taxes. The Contribution tax is up to 45%.
Potential Halifax clients can’t practice trading with virtual money before opening an account since the broker doesn’t provide a demo account.
Halifax offers accounts for self-investing and investing in ready-made portfolios, as well as retirement plans with tax benefits.
Bonuses Paid by the Broker
Reduced dealing commission
During the offer, the broker will reduce the online transaction fee to £3.50. You can trade UK stocks on better terms from 12:15 pm to 2:15 pm and international stocks all day on the days indicated on the website. Dates are subject to change, so the company recommends checking the promotion page before opening a trade.
Investment Education Online
Information
There is a lack of educational information on the Halifax UK website. In the Investing and Help Center sections, you can find articles on the basics of investing without a detailed analysis of each concept and term covered. To make it easier to start trading, the site has published guides and FAQs.
Information available in the Investing section
Information not available on the Halifax website
Choosing a Halifax account for the needs and goals of the investor
Technical and fundamental analysis
Investing Fundamentals: 5 First Steps, articles to improve your trading skills, explaining risks
Stock trading terminology and explanations
Research tools for studying the market and assets for investments search
Glossary
Getting started help and guides
The training published on the company's website provides an overview of investing.
Security (Protection for Investors)
Information
Halifax is registered in England and Wales under the trademark Halifax Share Dealing Limited (No. 3195646). The company is a member of the London Stock Exchange and is regulated by the Financial Conduct Authority (registration number — 183332).
All investment accounts opened with Halifax are protected by the Financial Services Compensation Scheme (FSCS), a UK deposit guarantee scheme. You can file a claim under this scheme if the company authorized by the FCA does not fulfill its obligations. The FSCS can only compensate for financial losses. The coverage is limited to £85,000 per applicant.
👍 Advantages
- The broker is regulated by the UK's most reputable financial supervisory authority
- Each investor in case of violation of the contract by the broker can file a complaint with the FCA
- Clients' investments are protected by a financial services compensation scheme
👎 Disadvantages
- Deposit and withdrawal methods are strictly limited
- When registering, an account in a UK bank, it shall be linked to an investment account
- You cannot open an account without providing detailed personal and tax documents
Withdrawal Options and Fees
-
All income is credited to investment accounts within 10 business days from the date of receipt. You can withdraw funds by bank transfer.
-
The broker credits the money to the bank account specified during registration within three business days.
-
Halifax does not charge withdrawal fees; however, banks may charge them. For this reason, if the broker is unable to complete the transfer of funds to the client's bank account for any reason (including if the transfer cost is equal to or exceeds £25), it withdraws the money by check.
-
Cards can only be used to make a deposit. Withdrawals to cards are not available. Credit to e-wallets is not available.
Customer Support Service
Information
Support is available by phone (Monday to Friday, 8:00 am to 5:00 pm) and in the mobile banking app (24/7) for online investment accounts.
👍 Advantages
- Wide range of communication methods
- You can contact the support team by phone
- There is a communication channel for people with disabilities
- Company representatives are available via popular messengers
👎 Disadvantages
- Support by phone and in Mobile Banking is available only to users registered on the company's website
- There is no online chat.
- 24/7 support is only available to Bank of Scotland Plc customers via its mobile app
Clients of the broker can:
-
request support from within your personal account;
-
call by phone numbers indicated on the website;
-
message in the Mobile Banking app;
-
send an email using a ready-made feedback form;
-
call from the Mobile Banking application;
-
write a message in Facebook Messenger or Twitter.
-
use the SignVideo service (an online translator for people using the British Sign Language (BSL));
-
send a letter to PO Box 548, Leeds, LS1 1WU;
-
visit a branch.
The fastest way to get an answer to a question is to ask it in the Help&Support section of your personal account.
Contacts
| Foundation date | 2057 |
| Registration address | Trinity Road, Halifax, West Yorkshire, HX1 2RG |
| Regulation |
FCA, FSCS |
| Official site | https://www.halifax.co.uk/ |
| Contacts |
Email:
security@halifax.co.uk,
Phone: 0800 500 3973 |
Review of the Personal Cabinet of Halifax
Access to the Halifax personal account is available after opening one of the company's accounts. To open an investment account, follow these steps:
1
On the main page of the official website, follow the Investing section:
2
Then click Open an Account:
3
Select the type of account you want to open, apply for its registration, and then fill out the form with personal and tax data:
4
In the personal account you can:
1. Make deposits and apply for withdrawals from investment accounts:
2. To make trades:
1. Make deposits and apply for withdrawals from investment accounts:
2. To make trades:
Also, in the user's personal account you can:
-
Set up recurring investments. After activating the option, the balance of the investment account will be automatically replenished by the specified amount by crediting from the client's bank account monthly.
-
Get quotes in real-time. The current stock prices shall be displayed in the trades tab on the right navigation panel after you select the investment amount and number of units.
-
View reports. The Evaluation and Reports section displays TradePlan's transaction and recurring investment histories, as well as dividends, earnings, administration fees, commissions, and taxes.
-
Configure TradePlan. You can connect or disconnect TradePlan (if its expiration period has not expired yet) in the Trades section.
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FAQs
Do reviews by traders influence the Halifax rating?
Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about Halifax you need to go to the broker's profile.
How to leave a review about Halifax on the Traders Union website?
To leave a review about Halifax, register on the Traders Union website or you can also leave a review through Facebook.
Is it possible to leave a comment about Halifax on a non-Traders Union client?
Anyone can leave feedback about Halifax on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.
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