New HL fee structure from 01/03/26

RL11

Cap doesn't apply to Unit Trusts or OEIC's - same as HL. So a proper like for like Fidelity is £90 cap and HL £150. Fee % will be 0.35% at both. Trading is £7.50 at Fidelity and £6.95 at HL. Barely anything in it.

From Feb 1st, Interactive Investor is £72 - for sub £100k - and £3.99 per trade.

Alistair31

if I’m already paying the cap at Fidelity for my sipp, if I open an ISA there will I pay it again or is it one single cap for all accounts?

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/81858101#Comment_81858101

If you have a SIPP and ISA with HL, it will be £300 capped vs £90 at Fidelity.

Also if you have >£250K on either platform, the fee for OEICs drops to 0.2% for both, but with Fidelity it covers the first £250K as well, whilst with HL the first £250K remains at 0.35%.

Not often mentioned but it is possible with both to have a mixture of OEICs and exchange traded funds, and end up with a blended fee, It is not all or nothing.

HL has a wider choice of investments, but the info on investments with Fidelity is better ( powered by Morningstar)

Also recently HL have got coy about offering cashbacks, except to invited customers, whereas Fidelity's seem to be still available to all, even previous switchers.

blue_eyes

…and fidelity currently have a cash back offer until start of April, for transferring sipps and isas, which could cover your fees for years

mills112

https://forums.moneysavingexpert.com/discussion/comment/81858218#Comment_81858218

i left fidelity as they didn't have ETFs. Do they offer ETF now?

blue_eyes

https://www.fidelity.co.uk/shares/etfs/

blue_eyes

just down the page a little is the search function

mills112

https://forums.moneysavingexpert.com/discussion/comment/81858249#Comment_81858249

brilliant. sounds like i should transfer my ISA over to them to get the cashback then!

i may also transfer my SIPP over ☺️

GeoffTF

T212 and iWeb are at opposite ends of the spectrum. iWeb should be super safe and is good for people with accounts at many times the FSCS compensation limit (£85K). T212 is more suitable for small accounts.

TheTelltaleChart

https://forums.moneysavingexpert.com/discussion/comment/81857726#Comment_81857726

Oops, yes, 1.5% not 2% for FX.

https://www.scottishwidows.co.uk/investing/ways-to-invest/share-dealing-services/charges/competitor-charges.html is quite interesting for their answer to: Who is the average Scottish Widows customer? Apparently it's somebody who:

• Holds £42,000 in shares.
• Holds £25,000 in funds.
• Places 4 UK trades and one fund trade a year.
• Makes 1 US trade a year (worth £4,600).

and who therefore pays (annually) 5 x £5 in standard trading commissions + £69 in 1 FX hit.

What they don't mention in that page is losses due to SW not paying interest on cash (except in their SIPP, I believe).

https://www.lloydsbankinggroup.com/assets/pdfs/investors/financial-performance/other-subsidiaries/2024/q4/2024-hsdl-annual-report.pdf (which you linked to earlier) breaks down their revenue (this is of course for HSDL as a whole, not just their SW branding) as follows:

	£’000
Commission on UK trades (at point in time)	12,852
Fee income (over time)	8,362
Commission on International trades (at point in time)	12,025
Interest income (over time)	65,282
	98,521

And profit before tax was 55,997, so they would be loss-making without the interest income. This does seem to be the key to how cheap they are, then. Those of us who keep virtually no cash with them gain at the expense of those who leave large amounts of cash with them.