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Rating Index

Pros

Hargreaves Lansdown offers a wide range of investment options, including stocks, ETFs, mutual funds, and bonds, catering to both beginners and experienced investors.

The platform provides excellent customer service and educational resources, making it easier for users to navigate their investment journey.

There are no trading fees for mutual funds, and the annual custody fees for stocks and ETFs are capped, making it cost-effective for larger portfolios.

Cons

The trading fees for shares and ETFs are relatively high compared to other brokers, which can be a disadvantage for frequent traders or those with smaller investment amounts.

The mobile app lacks advanced features and charting tools, which may not meet the needs of more active or sophisticated traders.

Service fees can become expensive for those holding a significant amount in mutual funds, especially as the portfolio grows.

Hargreaves Lansdown broker Accounts

Hargreaves Lansdown Account Types

Hargreaves Lansdown offers a variety of investment accounts to cater to different financial goals and preferences. The most popular account types include:

Stocks and Shares ISA:

Investment Limit: Up to £20,000 per tax year.
Tax Benefits: No UK income or capital gains tax on investments.
Minimum to Open: £100 lump sum or £25 per month.
Flexibility: Access your money at any time.

Fund and Share Account:

Investment Limit: Unlimited contributions.
Tax Benefits: Utilize tax-free dividend allowance and capital gains tax allowance.
Minimum to Open: £1 or £25 per month.
Flexibility: Access your money at any time.

Lifetime ISA:

Investment Limit: Up to £4,000 per tax year.
Government Bonus: 25% bonus on contributions, up to £1,000 per year.
Eligibility: Available for individuals aged 18-39.
Withdrawal Conditions: Withdraw for first home purchase or at age 60; other withdrawals may incur a 25% charge.

Junior ISA:

Investment Limit: Up to £9,000 per tax year.
Eligibility: Opened by a parent or guardian for children under 18.
Withdrawal Conditions: Withdrawals can be made after age 18.

Self-Invested Personal Pension (SIPP):

Investment Limit: Contributions up to £60,000 per year.
Tax Benefits: Up to 45% tax relief on contributions.
Minimum to Open: £100 or £25 per month.

Hargreaves Lansdown Broker Account Opening Process

Opening an account with Hargreaves Lansdown is a straightforward process that can be completed in just a few steps:

Choose Your Account Type: Decide which account suits your investment goals (e.g., Stocks and Shares ISA, Fund and Share Account, etc.).
Visit the Hargreaves Lansdown Website: Go to Hargreaves Lansdown to start the application.
Complete the Application Form: Fill out the required personal information, including your name, address, email, and contact details.
Provide Identification: You will need to present a valid form of identification and proof of address, such as a recent bank statement or utility bill.
Set Up Your Account: Choose a password and complete the registration process.
Fund Your Account: Once your account is set up, you can make your initial deposit. The minimum deposit varies by account type (e.g., £1 for a Fund and Share Account, £100 for an ISA).
Start Investing: After funding your account, you can begin buying and selling investments through the Hargreaves Lansdown platform.