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14 Mar 2024

HSBC investment platform review

Which? experts analyse HSBC's charges and ask its customers it rate it for service, tools, value for money and more

Megan ThomasResearcher & writer

In this article

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

Is HSBC any good?

Members can log in to see our review of HSBC's investment platform. 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 HSBC?

‘I struggle to use the platform when it comes to investing. I feel that they aren’t very informative and so feel less secure when it comes to putting money into investments.’
‘Very well structured website – easy to view and manage investments, great research and information.’
‘They are totally customer-focused, keep you well informed on investment progress, and the website is very easy to use and understand.’

How much does HSBC cost?

You can invest in a stocks and shares Isa or general investment account on both of HSBC's platforms, which have different fees.

Platform charge:

£10.50 per quarter for InvestDirect
0.25% of the annual value of your portfolio for Global Investment Centre

Trading charge:

£10.50 for shares and exchange-traded funds with InvestDirect
No charges for trading funds

Foreign exchange charge:

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

Fund charge:

Average charge of the funds on HSBC Global Investment Centre is 0.72% – with a high of 1.69% and low of 0.06%

How much would I pay to invest with HSBC?

We've estimated the cost of investing over the course of a year in an HSBC stocks and shares Isa, assuming that you make four purchases and four sales each year.

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

Read our comparison of investment platform charges to see how much investing with HSBC costs for a range of portfolios.

If you're thinking of using HSBC to take an income from your pension in a drawdown plan, read our comparison of pension drawdown charges.

What can you invest in with HSBC?

HSBC accounts and services

General investment account
Stocks and shares Isa (not flexible)
Self-invested personal pension (Sipp)
Ready-made portfolio

Investments on HSBC

450 funds (OEICs, multi-asset funds)
250 investment trusts
400 exchange-traded funds
4,677 stocks
73 bonds

Correct as of January 2024

Is HSBC good for ethical investors?

Funds on HSBC’s Global Investment Centre are sorted by fund manager and you can’t filter them, but they have ‘Ethical’ listed under sector where applicable.

There is no detailed information provided to give you a better idea of each fund's investment criteria, such as the top 10 holdings or a sector breakdown.

Find out more: Ethical investing explained

Is your money safe with HSBC?

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

When you invest with an investment platform that's registered with the FCA, 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; 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.