Hargreaves Lansdown Review

Hargreaves Lansdown is a well-established UK company that offers holistic investment services. It is regulated by FCA and is listed on the London Stock Exchange. As such, if you are considering investing with them, you can be sure that you are working with a reputable and reliable establishment. With reference to trading, it allows its clients to trade an array of financial instruments and conduct spread betting. While their spreads and additional fees are not the lowest in town, they are competitive.

However, like any other broker, the firm has certain drawbacks. For instance, it does not offer free VPS or the option of copy trading. While it does not offer the usual trading platforms like MT4 or MT5, it has an easy-to-use proprietary system that is apt for novice and experienced traders alike.  

Hargreaves Lansdown Pros and Cons

Pros

  • Responsive customer care team
  • Comprehensive educational resources
  • Offers spread betting
  • Low non-trading fees

Cons

  • Does not offer copy trading
  • Does not offer free VPS
  • Only offers GBP as its account currency
  • Does not offer MT4 or MT5 trading platform

Who is Hargreaves Lansdown Recommended For?

Based on the information acquired from this Hargreaves Lansdown review, the company is recommended for novice and experienced traders who are looking for a firm with relatively low fees and a trading platform that is easy to use. It is especially friendly to beginners since it has a responsive customer care team and an array of beneficial educational resources. Additionally, if you are looking for a company that offers spread betting, Hargreaves Lansdown may be a suitable option for you.

However, if you choose to trade with this company, there are certain features and trading tools that you will not enjoy. For instance, you will not be in a position to conduct copy trading or utilize free VPS for seamless trading. Besides, the only available account currency is the GBP.

Hargreaves Lansdown Top Features

Spreads

Spreads apply to the firm’s spread betting and CFD account. Notably, they vary depending on the prevailing market conditions as well as the financial instrument in question. While it has competitive spreads, they are not some of the lowest in the market. 

Easy to Use Trading Platform

The firm has a proprietary trading platform that enables its clients to trade various financial instruments. While it does not have the usual platforms such as MT4 and MT5, the available one is just as effective. What’s more, it is a straightforward system that novice traders can use. All you need to do is to log in into your Funds and Share account, whether it is on your mobile phone, tablet, laptop, or PC, and then start trading. Additionally, the HL mobile app allows you to manage your account at any place or time.  

Spread Betting Account

One of Hargreaves Lansdown’s popular services is spread betting. The service is offered by IG for HL Markets. Some of the benefits of spread betting with this firm include:

  •         The returns are exempt from UK capital gains tax or stamp duty
  •         You are not charged any commission
  •         You are able to trade on margins

The firm has further made it easier for traders to spread bet by availing a detailed free guide on the same. To get one, click here.

Support Channels

One of the ways that you can reach Hargreaves Lansdown is via email. To do so, you will need to go to their ‘Contact Us’ page and fill in the form containing your personal details and query. The company’s customer care division will then respond to you either via email or phone. You can also contact the company via its investment helpdesk (01179009000) on working days from 8am to 5pm London time. Alternatively, you can reach them on their social media platforms (Facebook, Instagram, and Twitter).  

Education

As part of its educational resources for novice and experienced traders, Hargreaves Lansdown frequently posts articles on trading strategies and current news. To get these articles, head on to their website and click on ‘News’ and then ‘Essentials & Education’.

The company also offers one-on-one interactions with its financial advisers. While the consultation sessions are free, it charges for the financial advice. The company also has free seminars. To benefit from this resource, one is required to book a space via the website’s Financial Advice section. Alternatively, you can have your questions answered by reading through the topics encompassed in its FAQ section.

Hargreaves Lansdown’s Top Negative Features

No VPS

VPS is a beneficial tool for traders looking to execute automatic algorithmic trading strategies. To ensure that clients get the fast latency needed to execute a trade with ease, some brokers offer this feature for free. However, Hargreaves Lansdown does not have this feature. 

Hargreaves Lansdown Overview

Regulation and Licensing Regulated and authorised by the FCA under the following subsidiaries:

  • Hargreaves Lansdown Asset Management Limited: (FCA registration no. 115248) and registered in England and Wales (no. 1896481).
  • Hargreaves Lansdown Fund Managers Limited: (FCA registration no. 166016) and registered in Wales and England (no. 2707155)
  • Hargreaves Lansdown Advisory Services Limited: (FCA registration no. 189627) and registered in Wales and England (no. 3509545)
Accepted jurisdictions Worldwide
Assets offered Spread betting and CFD account (commodities, shares, indices, Forex, and equity options)

Fund and Share account (shares, bonds, ETFs)

Platforms available Proprietary trading platform
Mobile compatibility Yes. You can log in into your Fund and Share account and trade on your mobile phone, tablet, laptop, or PC.
Payment types accepted Bank transfer, debit card
Languages English

Hargreaves Lansdown Account Types

The company has several accounts that have been created to meet the distinct financial needs of different individuals. As of the time of this Hargreaves Lansdown review, the available trading account is the Funds and Share account. However, there is also the spread betting and CFD account that is provided by IG for HL Markets.

Features Funds and Share Account Spread Betting and CFD account
Account currencies GBP GBP
Minimum deposit £1 £1
Starting spreads _ Depends on the financial instrument and market conditions
Commission per trade Yes (differs among the instruments) Yes (differs among the instruments)
Swaps/rollovers No Yes
Trading instruments Shares, ETFs, Bonds Commodities, shares, indices, Forex, and equity options
Demo account Yes Yes
Swap/rollover free Yes No
Copy trading support No No

 

Hargreaves Lansdown Regulation

The Hargreaves Lansdown website is issued by Hargreaves Lansdown Asset Management Limited. The company, which is a registered member of the London Stock Exchange (LSE) is regulated and authorised by the Financial Conduct Authority (FCA registration no. 115248). The firm is registered in England and Wales (no. 1896481). Hargreaves Lansdown group also has two other subsidiaries which are;

 Hargreaves Lansdown Fund Managers Limited: regulated and authorised by the Financial Conduct Authority (FCA registration no. 166016) and registered in Wales and England (no. 2707155).

Hargreaves Lansdown Advisory Services Limited: regulated and authorised by the Financial Conduct Authority (FCA registration no. 189627) and registered in Wales and England (no. 3509545).

Hargreaves Lansdown Spreads and Costs

Spreads are applicable to Hargreaves Lansdown’s spread betting and CFD account. The spreads usually vary depending on the prevailing market conditions as well as the financial instrument. While it has competitive spreads, they are not some of the lowest in the market. To determine the specific spread of a particular financial instrument, go to ‘Our Services’ and then to ‘Spread betting & CFDs’. Once you are on that page, scroll down and click on ‘Go to HL Markets’. You will find all the details on spreads under ‘Costs and Charges’.

The other trading fees that you will incur when trading with Hargreaves Lansdown is the rollover fees, which are charged for keeping a position open overnight or over the weekend. Additionally, the firm only accepts GBP as its account currency. As such, conversion fees may apply if you use a different currency. As for commissions, the fee depends on the financial instrument.

Non-trading fees

One of the advantages of trading with Hargreaves Lansdown is that you will not incur the non-trading fees that are enacted by some of the other brokers in the market. To begin with, it does not charge any inactivity fee. Additionally, the firm has not enacted fees for withdrawals or deposits. 

Hargreaves Lansdown Customer Service

Hargreaves Lansdown has a responsive customer service team that is available to handle people’s queries and concerns. One of the ways that you can reach the firm is via email. Click here to fill in the form containing your personal details and query. The company’s customer care division will respond to you either via email or phone.

You can also contact the company via its investment helpdesk (01179009000). The representatives are available on working days from 8am to 5pm London time. Alternatively, you can reach them on social media platforms like Facebook (Hargreaves-Lansdown, Twitter (HLInvest), and Instagram (hargreaves-lansdown).

Hargreaves Lansdown Account Opening Process

Hargreaves Lansdown offers different accounts for clients with different financial needs. With reference to trading, it has the Fund and Share Account. However, for novice traders, it is helpful to start with a demo account. To apply for one, click here. All you need to do to obtain a Hargreaves Lansdown’s demo account for the Funds and Share account is to fill in your personal details. Subsequently, you will receive tips and news that will be beneficial in your learning process. As for spread betting and CFD, you can head on to IG and fill in the required details.

Once you are confident about your ability to trade successfully with real money, you can upgrade to a live account. Before opening the account, it is advisable to read and understand their terms and conditions. Once you are comfortable with their terms, head on to ‘Our Services’ and then to ‘Fund and Share Account’. Next, scroll down and click on ‘Open a Fund and Share Account Now’. The subsequent step will be to fill the details as shown in the screenshots below.

The next steps in this account opening process will be the investment choice, which is optional, and account settings.

As of the time of this Hargreaves Lansdown review, the firm was not accepting new applications for HL Markets. However, if you already have an account, all you need is to log in and start trading CFDs or to spread bet.

Minimum Deposit

The minimum deposit requirement for trading with Hargreaves Lansdown is £1. Evidently, this is one of the lowest minimum deposit requirement in the market.

Deposit and Withdrawal Fees

When dealing with Hargreaves Lansdown, you can choose to deposit or withdraw funds via bank transfer or debit card. Notably, one of the attractive features of this company is that it does not have any deposit or withdrawal fees. However, you may incur conversion fees when using a currency other than GBP.   

Hargreaves Lansdown Education Offering

In an attempt to increase the trading skills of its existing and potential clients, Hargreaves Lansdown has availed several educational resources. The most popular one is the articles on various trading strategies as well as other relevant news. You can get these articles by heading on to ‘News’ and then to ‘Essentials & Education’.

Alternatively, you can head on here for one-on-one interactions with its financial advisers. While the consultation sessions are free, it charges for the financial advice as shown in the screenshot below.

Hargreaves Lansdown also has free seminars that you can benefit from by booking for a space via their website’s Financial Advice section. Alternatively, you can have your questions answered by reading through the topics tackled in their FAQ segment.

Conclusions

Based on the details acquired in this Hargreaves Lansdown review, the company offers an array of investment services that suit the needs of different individuals. As for trading, the firm has an effective proprietary trading platform that traders with different levels of experience will find easy to use. While its fees are not the lowest in the market, it has attractive trading charges and no non-trading fees. Individuals who are interested in spread betting may also want to consider this firm. Nonetheless, it has certain drawbacks such as the lack of free VPS and the provision of only one account currency.

FAQs

Q:  How do I pay my fees and charges?

A: The company will deduct the amount from your account. If the available funds are not enough, it will deduct from the amount you hold in your Fund & Share Account.

Q: Where can I see the charges or fees that have been applied to my account?

A: Log in into your account and go to the Account Administration section. Subsequently, click on ‘view history of fees’.

Q: What is the minimum amount I can invest in the HL Fund & Share Account?

A: you need a minimum of £1 to open the account.