Have you ever wondered how IG’s share dealing, ISA and SIPP fees compare to traditional stockbrokers like Hargreaves Lansdown, Barclays and Interactive Investors?
Well, IG sent out an email this morning letting everyone know that they are in fact much cheaper.
So there so go, if you wondered, you now know.
Obviously, rates change all the time and the rates from the image here are taken directly from IG and the competitor’s websites. It’s also worth noting that rates at stockbrokers tend to be volume based. So the more business you do the lower your commissions.
But are low rates and a race to the bottom (in pricing terms anyway) enough to win business? Afterall, brokers like Dabbl are basically giving stock broking services away for free now adays.
Here’s a quick rundown of what each broker does and what makes them different.
IG share dealing – what makes them different?
If you have an investment account with IG, you also get access to spread betting, options, and CFD trading through their derivatives arm. This is handy if you want to hedge your overall long exposure because you think the market is going to tank.
Incidentally, if you’re interested in getting in front of a potential market correction keep an eye on the Investors Intelligence Advisors Sentiment Indicator.
Hargreaves Lansdown share dealing – what makes them different?
You can actually phone Hargreaves Lansdown up and ask for advice on what to buy and sell. HL are proper wealth advisors so if you have a significant amount of capital in your investment portfolio and need a bit of help with balancing risk and regional allocation they can help.
They also offer a fund called the HL150, which is a fund of funds offering access to a basket of 150 funds they expect to perform well.
Barclays Share Dealing – what makes them different?
They are just really big. That’s sometimes a good thing, but sometimes a bad thing for investing accounts.
Interactive Investor share dealing – what makes them different?
Interactive Investor have one of the best discussion forums for UK stocks. you’ll find it hard to look up a stock price and there not be some discussion from proAM pundits.
There is of course, a load of rubbish on there, good old-fashioned jolly banter and classic banter. But, there are also some very clever and active users who post good links, comments and analysis. Plus, that’s what makes a market, opposing opinion…
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Richard founded the Good Money Guide (previously Good Broker Guide) in 2015 and has been a broker for 20 years most recently at Investors Intelligence and previously a multi-asset derivatives broker at MF Global (Man Financial). Richard started his career working as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson) after interning on the NYMEX oil trading floor in New York and London IPE in 2001 & 2000.