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Hargreaves Lansdown is one of the UK’s largest investment platforms, but there are some great Hargreaves Lansdown alternatives out there too.
Although Hargreaves Lansdown offers a huge range of investment options, tools and research it does have some areas where other platforms have caught up, or even overtaken. It seems like a new digital investment platform is springing up every month on crowdfunding sites!
In this article, I’ll run through the best alternatives to Hargreaves Lansdown for a range of different investing needs.
Use the links below to skip ahead to the Hargreaves Lansdown alternative that suits you best, or read on for the full rundown.
- Best Hargreaves Lansdown Alternatives For Ready-Made Portfolios
- Best Hargreaves Lansdown Alternatives For Stocks & Shares
- Best Hargreaves Lansdown Alternatives For Trading
- Best Hargreaves Lansdown Alternatives For Passive Investing
- Best Hargreaves Lansdown Alternatives For Cryptocurrency Investing
- Best All-Round Hargreaves Lansdown Alternative
- Alternatives To Hargreaves Lansdown – Final Verdict
Best Hargreaves Lansdown Alternatives For Ready-Made Portfolios
Ready-made portfolios have become a popular option for new investors, especially with the rise of robo-advisor platforms. Hargreaves Lansdown recently launched 4 ready-made portfolios to invest in, but they don’t have much performance history. They’re also on the expensive side compared to the below alternatives.
My favourite alternatives to Hargreaves Lansdown for ready-made portfolios are &me and Moneyfarm:
&me
If you want ready-made portfolios that come with the backing of a large financial institution, then &me could be what you’re looking for. &me is the creation of M&G Wealth, which is part of M&G plc, one of the largest asset managers in the UK. It offers 6 ready-made portfolios to invest in.
Generation Money OFFER: Sign up to &me and deposit £500 to get 3 months of no fees on your investments. You must use this link otherwise the offer will not be valid. Terms apply.
One of the best features of &me is that you can book a call or video chat with their consultants, either online or directly through the app. This human touch helps set it apart, and will benefit you if you would like further guidance.
- Portfolios: 6 actively managed, 6 targeted (ethical)
- Products: Stocks & Shares ISA, SIPP, Junior ISA, GIA
- Fees:
- Up to £10,000: 0.75%
- £10,000 – £19,999: 0.70%
- £20,000 – £49,999: 0.65%
- £50,000 – £99,999: 0.60%
- £100,000 – £249,999: 0.45%
- £250,000 – £499,999: 0.40%
- Over £500,000: 0.35%
- Minimum Investment: £500
- FSCS Protection: Yes
- Trustpilot Rating: TBU – launched in Jan-23
&me is actually powered by Moneyfarm’s technology and digital capabilities, but the portfolios it offers are overseen by M&G Wealth’s investment experts. You can also easily chat to an investment consultant via the app, or book a video meeting, for no extra cost.
&me Exclusive Offer – 3 Months No Fees
Ready-made portfolios powered by M&G.
Click below to get 3 months of investing with zero fees with &me. Must use the link below for offer to be valid. Terms apply.
Ready-made portfolios powered by M&G.
Click below to get 3 months of investing with zero fees with &me. Must use the link below for offer to be valid. Terms apply.
Moneyfarm
Moneyfarm is ideal for investors who want a hands-off approach and it’s well-suited for beginners. Moneyfarm gets to know you by asking you to complete a questionnaire on sign-up. From this, it recommends which of its 7 risk categories your money should go into.
- Portfolios: 7 actively managed, 7 ethical / socially responsible, 5 fixed allocation, Thematic Investing
- Products: Stocks & Shares ISA, SIPP, Junior ISA, GIA
- Fees:
- Up to £10,000: 0.75%
- £10,000 – £19,999: 0.70%
- £20,000 – £49,999: 0.65%
- £50,000 – £99,999: 0.60%
- £100,000 – £249,999: 0.45%
- £250,000 – £499,999: 0.40%
- Over £500,000: 0.35%
- Minimum Investment: £500
- FSCS Protection: Yes
- Trustpilot Rating: 4.6
Moneyfarm allows you to invest with minimal fuss involved after account verification – complete its questionnaire and confirm your risk level and off you go. I’ve used it for 6 years now and keep it as my primary robo-advisor investment platform.
Check out my in-depth, independent Moneyfarm review for more details.
Best Hargreaves Lansdown Alternatives For Stocks & Shares
One of the main reasons I don’t use Hargreaves Lansdown for investing in individual stocks and shares is because of its pricey dealing fees. Hargreaves Lansdown charges up to £11.95 per transaction, depending on how many share purchases you made in the prior month.
Fortunately, there are now several low cost and fee-free alternatives to Hargreaves Lansdown when it comes to buying individual stocks and shares:
Lightyear
Founded in London by two former Wise employees, Lightyear launched onto the investing app scene in the UK in 2021. It offers over 3,500 stocks and funds to invest in, with low commission on share dealing and no account fees.
Lightyear also has a number of innovative features, including alerts when there’s a shareholder action coming up for a company you’re invested in. You can also create a profile with your current investments and share it with your friends.
EXCLUSIVE OFFER: Get 10 free trades by using the promo code GENERATIONMONEY when signing up. Deposit at least £50 and get 10 trades for free. T&Cs apply. Capital at risk if you invest.
- Stocks, Shares & Funds: 3,500+
- Products: Multi-currency investment account, interest on uninvested cash
- Fees:
- UK Shares: £1 per successful order
- US Shares: 0.10%, maximum $1 per successful order
- EU Shares: €1 per successful order
- ETFs: Free of Lightyear execution fees. Other fees may apply
- FX Conversion Fee: 0.35% (you will need to convert your cash into the currency of the stock you want to buy)
- Bank Transfers: Free
- Fast Deposit Fee: First £500 is free, 0.5% thereafter
- Minimum Investment: £1 / 1 euro
- FSCS Protection: No
- Trustpilot Rating: 4.8
Included in Lightyear’s more than 3,500 stocks and funds are 250 UK stocks and ETFs. However, the only types of funds you can currently invest in are ETFs and BlackRock’s money market funds, so you won’t be able to invest in equity mutual funds.
Capital at risk if you invest. The provider of investment services is Lightyear Financial Ltd for the UK and Lightyear Europe AS for the EU. Terms apply: lightyear.com/terms. Seek qualified advice if necessary.
Plum
Plum is an investment, savings and money management app that allows you buy individual stocks and shares as well as invest in funds. While Plum doesn’t offer a huge range of funds to invest in, it has thousands of stocks to choose from.
- Stocks, Shares & Funds: 1,200 stocks to choose from with Plum Basic, Pro & Ultra; 3,000 with Premium; 20+ funds
- Products: Stocks & Shares ISA, SIPP, GIA, interest-earning savings accounts
- Fees:
- Individual stocks & shares: Free
- FX conversion fee: 0.45% (you will need to convert your cash into the currency of the stock you want to buy)
- Bank transfers: Free
- Fund investing: minimum £2.99 per month subscription
- Minimum Investment: £1
- FSCS Protection: Yes (but not for primary pocket)
- Trustpilot Rating: 4.4
Plum is slightly more expensive for investing in overseas stocks and funds compared to Lightyear, with a 0.45% FX conversion fee vs 0.35% with Lightyear. However, Plum offers a wide range of money management and investment features and tools that you may find useful.
Read our in-depth, independent Plum investment review for more details.
Plum – The Ultimate Smart Money App
Invest, save and manage your spending with automation.
Through AI and automation, Plum puts saving, investing and money management at your fingertips. Capital at risk if you invest.
Invest, save and manage your spending with automation.
Through AI and automation, Plum puts saving, investing and money management at your fingertips. Capital at risk if you invest.
Best Hargreaves Lansdown Alternative For Trading
eToro
One of the best-known trading platforms in the UK, eToro offers some of the most innovative trading features alongside thousands of stocks, ETFs and cryptocurrencies* to invest in.
One of eToro’s most popular features is its CopyTrader, which allows you to automatically copy the trades of the best traders on its platform. There’s no extra fee for using CopyTrader, either, aside from any trading or account fees required to carry out the trades.
On top of this, eToro also offers ‘Smart Portfolios’ which are investment portfolios put together around certain themes or strategies. You’re able to automatically invest in these portfolios, with no added fees.
An eToro Trading Account will allow you to buy and sell shares commission-free , trade in CFDs* across a range of assets and choose your level of leverage. It’s one of the most comprehensive trading platforms available in the UK. It does not offer ISAs, though.
- Investment Options:
- Stocks & Shares: 3,208
- ETFs: 325
- Cryptocurrencies: 74
- Indices (CFDs): 20
- Commodities (CFDs): 32
- Currencies (CFDs): 52
- CopyTrader Verified Traders: 24,000+
- Smart Portfolios: 86
- Products: Trading Account, Pro Account, eToro Money Account, Demo Account
- Fees:
- Withdrawal fee of $5 on all withdrawals (deposits are free)
- FX conversion fee on all non-US dollar withdrawals & deposits. This fee depends on the method of transaction, e.g. bank transfer is 0.50%. No FX charge if using eToro Money account to fund your trading account
- $10 monthly inactivity fee if no login after 12 monthsUK share dealing: £2.95 per transaction
- Daily financing fees on all CFD trades kept open overnight (inc. weekends) and broker spread, exact fee depends on asset being traded
- See detailed fees walkthrough here
- Minimum Investment: $50 for first deposit then $10 minimum investment. Smart Portfolios minimum investment is $500
- FCA Regulated: Yes
- FSCS Protection: Yes
- Trustpilot Rating: 4.4
Read our in-depth eToro review for more about eToro. For a head-to-head comparison with Hargreaves Lansdown, read our eToro vs Hargreaves Lansdown guide.
*CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Cryptocurrency markets are high risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
Best Hargreaves Lansdown Alternative For Passive Investing
If you simply want to invest in index funds that track major market indices then there are cheaper alternatives to Hargreaves Lansdown.
InvestEngine
A relatively new investment platform, InvestEngine allows you to invest in ETFs fee-free if you pick your own investments. So, if you want to invest in passive tracker funds you can do so through InvestEngine without paying any dealing or platform charges.
In fact, it is cheaper to invest in Vanguard’s funds through InvestEngine than it is to do so directly with Vanguard.
There are over 550 ETFs to pick from on the platform, and you can do so through a Stocks & Shares ISA. You also have the option of investing in ready-made portfolios but these come with a 0.25% platform fee. However, this still beats most robo-advisors on cost.
- Funds: Over 550 ETFs
- Products: Stocks & Shares ISA & GIA
- Fees:
- Zero fees when picking your own investments
- 0.25% management fee for Managed Portfolios
- Minimum Investment: £100
- FCA Regulated: Yes
- FSCS Protection: Yes
- Trustpilot Rating: 4.4
Up To £50 Welcome Bonus
Over 550 ETFs to invest in. Commission-free.
Get a free welcome bonus of up to £50 when you invest at least £100 with InvestEngine.
Ts&Cs apply. Capital at risk if you invest.
Up To £50 Welcome Bonus
OFFER: Get a Welcome Bonus of up to £50 when you invest at least £100 with InvestEngine.
Ts&Cs apply. Capital at risk if you invest.
Read our independent InvestEngine review for more details about InvestEngine.
Best Hargreaves Lansdown Alternatives For Cryptocurrency Investing
One investment asset that Hargreaves Lansdown doesn’t offer is cryptocurrencies. So if you want to invest in crypto, you’ll need to use an alternative to Hargreaves Lansdown.
Coinbase – Best For Active Crypto Investors
Coinbase is a US-based cryptocurrency exchange with over 73m active users. Users can trade and invest in about 100 cryptocurrencies.
If you’re interested in investing in crypto, then Coinbase is a good beginner-friendly option with a wide range of assets to choose from. The minimum amount you need to buy cryptocurrency on Coinbase is £1.
Upon signing up, you gain access to two platforms: the original Coinbase platform, where you can buy, sell, send and spend cryptocurrencies, and Coinbase Pro which is designed for more serious crypto traders.
PROMO: You can currently get up to £10 of free Bitcoin if you’re a new customer and sign up to Coinbase using this link.
After registration, you need to complete the verification of your account using photo ID. Once you’ve made your first buy order, you will get up to £10 of bitcoin added to your account.
Cryptocurrency disclaimer: Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
Revolut – Best For Casual Crypto Investors
Revolut is primarily a digital banking app but it also allows you to invest in stocks and shares, commodities and a select number of cryptocurrencies.
It costs 1.49% to 1.99% in exchange fees to buy and sell cryptocurrencies through Revolut, depending upon your account type. Revolut currently offers over 80 cryptocurrencies to choose from, and you can set up recurring orders.
It’s a good option for you if you want an innovative digital banking app that also allows you to invest.
Disclaimer: Cryptocurrencies are not protected by investor compensation schemes. Value can go down as well as up. Trading may be subject to tax.
Revolut – The Digital Finance Super App
One app, all things money.
From easy money management, to travel perks and investments. Open your account in a flash.
Revolut – The Digital Finance Super App
One app, all things money.
From easy money management, to travel perks and investments. Open your account in a flash.
Read our independent Revolut review for more.
Best All-Round Hargreaves Lansdown Alternative
The above alternatives to Hargreaves Lansdown are great for specific investing needs. But as an all-round Hargreaves Lansdown alternative, Interactive Investor is a great option.
Interactive Investor
Founded more than 25 years ago, Interactive Investor – or ii – is one of the largest investment platforms in the UK. It has over £50bn in assets under administration (AUA), with over 400,000 customers.
It offers a wide range of thousands of stocks, funds and bonds to invest in, making it a great Hargreaves Lansdown alternative. Interactive Investor also offers a good choice of accounts and ISA products.
Where Interactive Investor differs from Hargreaves Lansdown is its pricing. It charges monthly subscription fees instead of annual percentage charges based on the value of your investments:
- Investment Options: Thousands of investment assets across mutual funds, investment trusts, ETFs, shares and bonds
- Ready-Made Portfolios: 5 to choose from – 3 growth and 2 income portfolios
- Products: Stocks & Shares ISA, SIPP, Junior ISA, GIA, personal financial advice
- Fees:
- Investor Essentials: £4.99 per month (max. investment of £50k)
- Investor: £11.99 per month
- Super Investor: £19.99 per month
- Pension Essentials: £5.99 per month for penions up to £50k in value
- Pension Builder (SIPP): £12.99 per month for pensions above £50 in value
- Note, SIPP can be added to Investor and Super Investor Plans for £10 a month extra
- Online share dealing: £3.99 per transaction for UK funds & shares and US shares on all plans. £9.99 for non-US international share dealing. Dividend reinvestment £0.99 for all plans
- Minimum Investment: No minimum investment to open an account. £25 per month minimum for regular investing
- FSCS Protection: Yes
- Trustpilot Rating: 4.7
The higher the value of your investments, the more cost effective Interactive Investor becomes in percentage terms, as its pricing is based on fixed monthly fees.
This makes Interactive Investor cheaper than Hargreaves Lansdown for higher investment amounts. Read my detailed comparison of Interactive Investor vs Hargreaves Lansdown for more.
Promo: Interactive Investor is currently giving cashback of up to £100 if you open an ISA or Trading account and deposit or transfer £5k. Click below to take advantage of this offer:
Get £100 Cashback
New customers who open an Interactive Investor ISA or Trading Account by 30th November and deposit or transfer £5k will receive £100 cashback.
Terms and fees apply. Capital at risk if you invest.
£100 Cashback Offer
New customers who open an Interactive Investor ISA or Trading Account by 30th November and deposit or transfer £5k will receive £100 cashback.
Terms and fees apply. Capital at risk if you invest.
Alternatives To Hargreaves Lansdown – Final Verdict
While there are great options as alternatives to Hargreaves Lansdown, there’s a reason it’s still the UK’s biggest retail investment platform. Hargreaves Lansdown’s choice of investments, research and tools, and customer service all make it a great choice.
However, when it comes to price it’s less competitive. The above Hargreaves Lansdown alternatives show that, depending on your reason for investing, there are cheaper and more innovative options out there.
