Like many investors in the UK, I invest with Hargreaves Lansdown. I chose this platform over others due to the wide range of assets available, the strong customer service, and the platform reliability. However, recently, the platform has begun to frustrate me a little as not only is the fee structure uncompetitive but the company isn’t innovating like other players in the market are. So, what are some good alternatives to Hargreaves Lansdown for a Stocks and Shares ISA or SIPP?
Interactive Investor
Among the traditional, ‘old school’ platforms, one that stands out to me is Interactive Investor, which is now owned by Aberdeen. Like Hargreaves Lansdown, it offers access to a vast range of assets (shares, funds, ETFs, investment trusts, bonds, etc.), however, one differentiator is its flat fee structure.
With Interactive Investor, there are three different plans (all of which offer access to Stocks and Shares ISAs and SIPPs). These are:
- Core, which costs £5.99 per month
- Plus, which costs £14.99 per month
- Premium, which costs £39.99 per month
This kind of flat fee structure is really appealing. If I was to choose the Plus plan, my platform fee would be £14.99 per month no matter whether my ISA and SIPP portfolio was worth £50k or £500k.
The flat fee structure isn’t the only thing to like about Interactive Investor, however. It also offers lower trading fees and FX fees compared to Hargreaves Lansdown.
For example, on the Plus plan, dealing charges for UK and US shares are only £3.99, while FX costs are 0.75% for the first £50,000 and 0.25% over £50,000.
At Hargreaves Lansdown, dealing charges for UK and US shares are £6.95 for the first 19 trades per month. Meanwhile, FX charges are 0.99% for £0 to £10,000, 0.50% for £10,000 to £25,000, and 0.20% for over £25,000.
IG
Another traditional platform I’m looking at is IG. In recent years, it has evolved into a well-rounded investment platform offering a wide range of assets (shares, ETFs, ready-made portfolios, etc.) and multiple types of accounts including Stocks and Shares ISAs and SIPPs.
Some advantages of this platform include:
- Access to over 12,000 stocks
- Commission-free stock trades with a Stocks and Shares ISA or SIPP
- No account fees for Stocks and Shares ISAs
- A flat annual fee of £210 for SIPPs
- An FX fee of 0.70%
- 3.75% AER interest on cash balances up to £100,000
- Access to crypto (not in a Stocks and Shares ISA or SIPP)
Overall, it’s a very competitive offering. With commission-free stock trading, it could be well suited to those who like to trade regularly like myself.
Freetrade
Turning to newer players, one solid option here is Freetrade. It’s owned by IG Group.
This platform has come a long way since its launch in 2018. Not only has it massively expanded its range of investments (it now offers access to mutual funds and gilts) but it has also expanded its account offering – today it offers Stocks and Shares ISA accounts, SIPPs, Junior ISAs, and General Investment Accounts (GIAs).
Freetrade has three different plans. These are:
- Basic, which is free
- Standard, which costs £4.99 per month
- Plus, which costs £9.99 per month
For all the plans, Freetrade offers commission-free investing so that’s obviously a huge advantage. The FX fee is 0.59% on the Standard plan and 0.39% on the Plus plan – both lower than Hargreaves Lansdown’s standard FX fee.
It’s worth pointing out that on Freetrade’s website it shows how its fees could be significantly lower than Hargreaves Lansdown’s. The scenario is: you have £20,000 invested in a General Investment Account (GIA), £80,000 invested in a Stocks and Shares ISA, and £150,000 invested in a SIPP and per month you make five UK stock trades totalling £5,000 and five US stock trades totalling £5,000.
In this scenario, Freetrade’s monthly cost could be around £30. By contrast, Hargreaves Lansdown’s monthly fee would be well over £100.
But that’s not the only thing to like here. One other great feature is fractional shares. With this feature, one can buy fractions of shares (e.g. half an Amazon share). This is the kind of innovation that Hargreaves Lansdown is missing.
Freetrade also pays attractive levels of interest on cash balances. For example, on the Plus plan, the rate is 3.50% AER on up to £3k uninvested cash.
Robinhood
Finally, I also think Robinhood is worth a look. It doesn’t offer a SIPP yet but it does offer a Stocks and Shares ISA.
The level of innovation here is what I’m looking for in a broker. Today, Robinhood offers:
- Commission-free trades
- Fractional shares
- An AI-powered investment assistant
- The ability to convert pounds to US dollars once, then use your US dollar balance to buy US stocks without having to pay an FX fee on every trade.
- Options and futures trading (not in a Stocks and Shares ISA or SIPP)
On top of all this, there are no account fees for Stocks and Shares ISAs and low FX fees of just 0.10% to 0.30%.
So overall, it’s a very competitive package. With this platform, fees could potentially be very low.
The best alternative to Hargreaves Lansdown
Personally, I haven’t decided whether I will move my money away from Hargreaves Lansdown yet. But there are certainly some great alternatives in 2026. From Interactive Investor with its flat fee structure to Robinhood with its commission-free trading and AI-powered investment assistant, there are plenty of good options. Considering the alternatives, I imagine that a few investors will be looking to leave Hargreaves Lansdown in the near future given its fee structure and lack of innovation.
Disclaimer: Edward Sheldon owns shares in Robinhood Markets.
Based in London, Edward is a distinguished investment writer with an extensive client portfolio comprising a diverse array of prominent financial services firms across the globe. With over 15 years of hands-on experience in private wealth management and institutional asset management, both in the UK and Australia, he possesses a profound understanding of the finance industry.
Before establishing himself as a writer, Edward earned a Commerce degree from the prestigious University of Melbourne. Complementing his academic background, he holds the esteemed Investment Management Certificate (IMC) and is a proud holder of the Chartered Financial Analyst (CFA) qualification.
Widely recognised as a sought-after investment expert, Edward’s insightful perspectives and analyses have been featured on sites such as BlackRock, Credit Suisse, WisdomTree, Motley Fool, eToro, and CMC Markets, among others.
