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14 Mar 2024

Hargreaves Lansdown investment platform review

We analyse Hargreaves Lansdown's charges and ask its customers to rate it for service, tools, value for money and more

Megan ThomasResearcher & writer

In this article

Is Hargreaves Lansdown any good?
What do customers say about Hargreaves Lansdown?
How much does Hargreaves Lansdown cost?
What can you invest in with Hargreaves Lansdown?
Is Hargreaves Lansdown good for ethical investors?
Is your money safe with Hargreaves Lansdown?

Is Hargreaves Lansdown any good?

Which? members can exclusively read the results of our unique customer satisfaction survey.

Members can log in to read our analysis. If you're not already a member, join Which? and get full access to these results and all our reviews.

To become a Which? Recommended Provider (WRP) for either stocks and shares Isas or general investment accounts, a platform needs to have a customer score of at least 70%, not be in the top 25% most expensive in one of our fees scenarios, and not score lower than three stars in any category.

On top of these criteria, we apply statistical tests that place the platforms into ‘bands’, and only the platforms in the highest band – the ones that really stand out against the rest – can be a WRP.

Which?'s rating for customer satisfaction is based on feedback from customers.

We ask investors to rate their current platform for its ease of use, overall customer service and customer communications, whether it represents value for money, if they are satisfied with it overall and whether they would recommend it to someone else.

In January 2024, we heard 4,136 reviews and gave customer scores to 17 do-it-yourself investment platforms. Each platform must have at least 30 responses, a minimum of three investments to choose from yourself, and not offer contract for difference (CFD) trading to receive a customer score.

What do customers say about Hargreaves Lansdown?

‘The website is clear and easy to use, which is just what I needed as I've never invested in a stocks and shares Isa before.'
'Love the access to such a wide range of investments including overseas. Charges somewhat high and loyalty not really rewarded.'
'Apart from the issue with Neil Woodford, I've found the platform very user-friendly, easy to use and quick to make transactions. I also find their emails about the market and my investments helpful and informative.'

How much does Hargreaves Lansdown cost?

Investors in Hargreaves Lansdown's Fund and Share account – its general investment account – pay no platform fee on shares, investment trusts and exchange-traded funds (ETFs). Stocks and shares Isa users pay 0.45% on these types of asset.

Platform charge

0.45% on fund investments up to £250,000 and shares in a stocks and shares Isa
0.25% on funds between £250,000 and £1 million
0.1% between £1 and £2 million
No charge above £2 million or on shares in a Fund and Share account

Trading charge

£11.95 on shares, investment trusts, exchange-traded funds, and bonds/gilts if you placed 0-9 deals in the previous month
£8.95 if you placed 10-19 deals
£5.95 if you placed 20 or more deals
No charge for trading funds, or regular direct debit investing

Foreign exchange charge

This applies to each trade of investments denominated in another currency, for example US stocks, on top of fund and trading charges.

1% on a trade value up to £5,000
0.75% on the next £5,000
0.5% on the next £10,000
0.25% on over £20,000

How much will I pay to invest with Hargreaves Lansdown?

We've estimated the cost of investing over the course of a year in a Hargreaves Lansdown stocks and shares Isa. We assumed that you'll make four purchases and four sales each year, spread out over different months.

Costs will vary depending on how much you invest and whether you trade funds or shares.


£5,000
£10,000
£25,000
£50,000
£100,000
£250,000
£500,000

Find out more: Best investment platforms in the UK 2024

What can you invest in with Hargreaves Lansdown?

Hargreaves Lansdown accounts and services

General investment account
Stocks and shares Isas (not flexible)
Self-invested personal pension (Sipp)
Junior Sipp
Income drawdown
Savings account
Annuity
Income drawdown
Junior investment Isa

Investments on Hargreaves Lansdown

3,940 funds (OEICs, multi-asset funds)
405 investment trusts
1,503 exchange-traded funds
8,371 stocks
269 bonds (plus you can now buy UK gilts at issue)

Correct as of January 2024

Is Hargreaves Lansdown good for ethical investors?

Despite having many different filters available to search for funds and other investments, Hargreaves Lansdown does not allow users to filter on ESG characteristics of any kind.

It does, however, have detailed information on each fund, such as its top 10 holdings and sectors, including where underlying funds are invested, so investors can get a sense of what's in their funds.

Find out more: Ethical investing explained

Is your money safe with Hargreaves Lansdown?

Hargreaves Lansdown is regulated by the Financial Conduct Authority and covered by the Financial Services Compensation Scheme (FSCS).

When you invest with an investment platform that's registered with the Financial Conduct Authority, your money will be ring-fenced and should be returned if a company goes bust, without you having to wait alongside other creditors.

If ring-fencing failed, you would be compensated by the FSCS.

The FSCS will cover up to £85,000 of investments per person, per platform. You can claim for free online at fscs.org.uk. There's no reason to use a claims management company.

You won't be compensated for investments falling in value, or if a company in which you hold shares goes bust, unless this poor performance resulted from bad advice given by a regulated Independent Financial Advisor that has since gone bust.