Hargreaves Lansdown Review

UK long-term ISA and SIPP investors

FCA

Founded 1981 · United Kingdom

Why investors choose this broker

UK's largest retail investment platform with over 2 million clients
Wide product range: funds, shares, ETFs, bonds, gilts, investment trusts, VCTs
ISA, SIPP, Lifetime ISA, Junior ISA, and Junior SIPP accounts available
No inactivity or withdrawal fees

Review summary

Hargreaves Lansdown is the UK's largest retail investment platform, offering ISAs, SIPPs, funds, shares, ETFs and ready-made portfolios to over 2 million clients.

Pros

UK's largest retail investment platform with over 2 million clients
Wide product range: funds, shares, ETFs, bonds, gilts, investment trusts, VCTs
ISA, SIPP, Lifetime ISA, Junior ISA, and Junior SIPP accounts available
No inactivity or withdrawal fees
Free monthly Direct Debit regular investing for both shares and funds
Extensive research tools, analyst ratings, and educational content
Segregated client funds and FSCS protection up to £85,000
No account charge for Junior ISA holders

Cons

No demo account available
Share dealing fee of £6.95 is higher than several UK competitors
Fund annual charge is uncapped for smaller portfolios and can be expensive at scale
New £1.95 fund dealing fee introduced from March 2026 where trades were previously free
Annual share charge cap raised to £150 per year per account from £45
FX conversion fees apply on all overseas share trades
No CFDs, forex, crypto, or spread betting products

Company background

Hargreaves Lansdown was founded in 1981 by Peter Hargreaves and Stephen Lansdown in Bristol, initially providing information on unit trusts and tax planning. The company grew to become the UK's largest retail investment platform, surpassing 2 million client accounts and £172 billion in assets under administration as of mid-2025. After listing on the London Stock Exchange in 2007 and joining the FTSE 100 in 2011, the company agreed to a £5.4 billion take-private acquisition in August 2024, with the transaction completing and delisting in March 2025.

Fees and pricing

From 1 March 2026, online share dealing costs £6.95 per trade for 0-19 trades per month and £3.95 for 20 or more trades per month. Phone trades cost £29. Fund trades cost £1.95 online; regular investing via monthly Direct Debit remains free. Annual account charges on funds are tiered: 0.35% on the first £250,000, 0.25% on the next £750,000, 0.10% on the next £1,000,000, and free above £2,000,000. For shares, ETFs, investment trusts and bonds, the annual charge is 0.35%, capped at £150 per year per account. There is no inactivity fee, no withdrawal fee and no fee to open or close an account. FX conversion fees apply on overseas share trades at 0.99% on the first £10,000, 0.50% on the next £15,000, and 0.20% above £25,000.

Regulation and safety

Hargreaves Lansdown Asset Management Limited is authorised and regulated by the FCA in the UK. Client investments are held through Hargreaves Lansdown Nominees Limited, separate from company assets. Client cash is held in trust at UK-regulated banks and reconciled daily. Pension assets are held under separate trust deeds. Eligible clients are covered by FSCS protection up to £85,000 per person for investment business, and up to £120,000 per institution for deposits if a bank defaults.

Platform experience

Hargreaves Lansdown provides a web platform and mobile apps for iOS and Android. Features include live prices, portfolio tracking, watchlists, price alerts, charting tools, in-depth fund and share research, analyst ratings, and a Wealth Shortlist of curated funds. Ready-Made Investments offer goal-based and risk-rated portfolios. No demo account is available.

Pros and cons

Key advantages are the wide range of account types including ISA, SIPP and Lifetime ISA, a large fund and share universe, free regular investing, strong research resources, and FSCS-backed fund segregation. Main drawbacks include a share dealing fee of £6.95 per trade, the introduction of a £1.95 fund dealing fee from 2026, an annual share charge cap of £150 per account, FX conversion fees on overseas trades, and no CFD, crypto, or forex products.

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Your capital is at risk. Other fees apply.

Trading fees & commissions

From March 2026, online share dealing costs £6.95 per trade (£3.95 for 20+ trades per month), fund trades cost £1.95 online, and annual account charges are 0.35% on funds (tiered, uncapped) and 0.35% on shares capped at £150 per year per account. No inactivity or withdrawal fees.

Fees

Item	Fee
Funds	£1.95 per online trade; free via monthly Direct Debit regular investing; annual account charge 0.35% (tiered)
Account	0.35% per year on funds (tiered: 0.35% up to £250k, 0.25% next £750k, 0.10% next £1m, free above £2m); 0.35% per year on shares/ETFs/investment trusts, capped at £150 per year per account
Custody	Included in annual account charge; no separate custody fee
Deposit	Free
Inactivity	Free
Withdrawal	Free
Fx Conversion	0.99% on the first £10,000; 0.50% on the next £15,000; 0.20% above £25,000 (applies to overseas share trades)

Trading platform & features

Platforms

HL Web platform
iOS app
Android app

Regulation and investor protection

Hargreaves Lansdown is authorised and regulated by the Financial Conduct Authority (FCA) in the UK. Client investments are held in segregated nominee accounts, cash is held in trust at UK-regulated banks, and eligible clients are covered by the Financial Services Compensation Scheme (FSCS) up to £85,000 per person.

Broker FAQs

Is Hargreaves Lansdown safe?

Hargreaves Lansdown is authorised and regulated by the FCA. Client investments are held in segregated nominee accounts and client cash is held in trust at UK-regulated banks, separate from the company's own assets.

Is Hargreaves Lansdown a scam?

No. Hargreaves Lansdown is authorised and regulated by the Financial Conduct Authority (FCA) and is the UK's largest retail investment platform.

Is Hargreaves Lansdown regulated and by whom?

Yes. Hargreaves Lansdown Asset Management Limited is authorised and regulated by the Financial Conduct Authority (FCA) in the UK.

Does Hargreaves Lansdown keep client funds in segregated accounts?

Yes. Client investments are held through Hargreaves Lansdown Nominees Limited, keeping them separate from company assets. Client cash in ISA and Fund and Share Accounts is held in legally separate trust accounts at UK-regulated banks and reconciled daily.

What happens to my money if Hargreaves Lansdown goes bankrupt?

Client assets are held in segregated accounts separate from the company's assets, so they would not form part of the company's estate. Eligible clients are also covered by the FSCS up to £85,000 per person for investment business.

What products does Hargreaves Lansdown offer?

Hargreaves Lansdown offers funds, shares, ETFs, bonds, gilts, investment trusts, Venture Capital Trusts, ready-made portfolios, and accounts including Stocks and Shares ISA, Cash ISA, Lifetime ISA, Junior ISA, SIPP, Junior SIPP, and a Fund and Share Account.

Does Hargreaves Lansdown offer ETFs?

Yes. ETFs are available to trade in the Fund and Share Account, Stocks and Shares ISA, and SIPP. The annual account charge for ETFs is 0.35%, capped at £150 per year per account.

Does Hargreaves Lansdown offer ISAs?

Yes. Hargreaves Lansdown offers a Stocks and Shares ISA, Lifetime ISA, Cash ISA and Junior Stocks and Shares ISA.

Does Hargreaves Lansdown offer a SIPP?

Yes. Hargreaves Lansdown offers a Self-Invested Personal Pension (SIPP), described as the UK's most popular SIPP, as well as a Junior SIPP and drawdown options.

Does Hargreaves Lansdown offer ready-made portfolios?

Yes. Ready-Made Investments are goal-based and risk-rated portfolios available for investors who prefer not to select individual funds or shares themselves.

What does Hargreaves Lansdown charge for share trades?

From March 2026, online share trades cost £6.95 for 0-19 trades per month and £3.95 for 20 or more trades per month. Phone trades cost £29. Regular monthly investing via Direct Debit is free.

What does Hargreaves Lansdown charge for fund trades?

From March 2026, fund trades cost £1.95 per online trade. Regular investing via monthly Direct Debit remains free. Annual account charges on funds are tiered from 0.35% down to free above £2 million.

Is there a withdrawal fee at Hargreaves Lansdown?

No. Hargreaves Lansdown does not charge a withdrawal fee.

Does Hargreaves Lansdown charge an inactivity fee?

No. Hargreaves Lansdown does not charge an inactivity fee.

What is Hargreaves Lansdown's currency conversion fee?

FX conversion fees apply to overseas share trades: 0.99% on the first £10,000, 0.50% on the next £15,000, and 0.20% above £25,000 of the trade value.

Does Hargreaves Lansdown have a demo account?

No. Hargreaves Lansdown does not offer a demo or paper trading account.

Does Hargreaves Lansdown have a mobile app?

Yes. Hargreaves Lansdown offers iOS and Android apps supporting trading, portfolio tracking, price alerts, watchlists and research.

Is Hargreaves Lansdown good for beginners?

Hargreaves Lansdown offers ready-made portfolios, a curated Wealth Shortlist, educational resources and a wide range of accounts including ISAs and SIPPs. The absence of a demo account and the presence of trading fees mean new investors should review costs relative to their planned activity.

Is Hargreaves Lansdown good for long-term investing?

Hargreaves Lansdown is well suited to long-term investing through ISAs and SIPPs, with access to a large fund and share universe, free regular investing via Direct Debit, and tiered fund charges that fall as portfolio size grows. However, the annual share charge cap of £150 per account and per-trade fees are worth comparing against competitors for larger or more active portfolios.

Bottom line

Hargreaves Lansdown suits users who want a broad UK-regulated investment platform with ISA, SIPP and Lifetime ISA accounts, a large fund and share selection, ready-made portfolios, and strong research tools. It may not suit users who want a demo account, low-cost CFD or forex trading, crypto access, or share dealing fees below £6.95 per trade.

Hargreaves Lansdown

UK long-term ISA and SIPP investors

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Your capital is at risk. Other fees apply.