Both are FCA-regulated and FSCS-protected. The real difference is fees, account types and how each platform feels to use. Verified against each provider’s published charges.
Fees verified July 2026. Capital at risk. Information, not financial advice.
Investors who want the fullest service, research and support and will pay a premium for it.
Self-directed investors who want low-cost, no-platform-fee share dealing from a major UK bank.
Tick what you need. No account, no email. The answer is on this page.
Tick what you need above and we'll tell you which of the two covers it.
Account availability verified July 2026. Capital at risk. Information, not financial advice.
Service quality is the recurring theme: phone answered quickly, knowledgeable staff, smooth transfers.
Price. Even after the cuts, reviewers and commentators note cheaper alternatives for the same investments.
Read Hargreaves Lansdown reviews on TrustpilotLong-standing customers value the low flat-fee share dealing and the Lloyds Banking Group backing; recent reviews praise the move into the Scottish Widows app.
Common gripes are the 1.5% FX fee on US shares and the dated feel of parts of the web platform.
Read Scottish Widows reviews on Trustpilot| Fee | Hargreaves Lansdown | Scottish Widows |
|---|---|---|
| Platform fee | 0.35% on funds up to £250k (tiered lower above); shares capped at £45/year in an ISA and £150/year in a SIPP | £0 on ISA and Share Dealing Account; SIPP 0.25% capped at £16.50/month |
| Share dealing | £6.95 per trade (cut from £11.95 in March 2026) | £5.00 per UK trade (£0 commission on international, 1.5% FX applies) |
| Fund dealing | £1.95 per trade (free via regular investing) | £5.00 per trade |
| FX fee | 1% on the first £5k, tiered lower above | 1.5% |
| Stocks & Shares ISA | Platform fee applies | No annual charge |
| SIPP | Platform fee applies | 0.25% per year, capped at £198 |
| Withdrawals | Free | Free (CHAPS same-day payment £25) |
| Minimum to start | £25/month or £100 lump sum | £50 |
Hargreaves Lansdown is the UK's largest DIY investment platform and leans into service: fast phone support, deep research and every account type you might need. The March 2026 fee cuts made it meaningfully cheaper, with fund fees down to 0.35% and share dealing at £6.95.
It is still rarely the cheapest option. You are paying for service and breadth, so the honest question is whether you will use them. If not, AJ Bell offers similar range for less.
Scottish Widows Share Dealing is the rebranded IWeb platform, now run by Halifax Share Dealing Limited inside Lloyds Banking Group. It charges no annual fee on the ISA or General Investment Account, £5 per UK trade and free regular investing through a Regular Investment Plan. For a buy-and-hold investor making occasional trades, the all-in cost can be very low.
The trade-off is the 1.5% FX charge on US and other non-GBP trades, which adds up quickly for global investors, and no Junior ISA. The SIPP is competitively priced at 0.25% capped at £16.50 a month. Compare it against Trading 212 or Freetrade if FX cost matters, and against AJ Bell or Hargreaves Lansdown if you want funds and full-service support.
It depends on what you hold and how often you trade. Hargreaves Lansdown's platform fee is 0.35% on funds up to £250k (tiered lower above); shares capped at £45/year in an ISA and £150/year in a SIPP, against £0 on ISA and Share Dealing Account; SIPP 0.25% capped at £16.50/month at Scottish Widows. On dealing, Hargreaves Lansdown charges £6.95 per trade (cut from £11.95 in March 2026) for shares and £1.95 per trade (free via regular investing) for funds, while Scottish Widows charges £5.00 per UK trade (£0 commission on international, 1.5% FX applies) for shares and £5.00 per trade for funds. Fees verified July 2026.
Hargreaves Lansdown is best for investors who want the fullest service, research and support and will pay a premium for it. Scottish Widows is best for self-directed investors who want low-cost, no-platform-fee share dealing from a major UK bank. Both are FCA regulated and covered by the FSCS.
On Hargreaves Lansdown's ISA: Platform fee applies. On Scottish Widows's ISA: No annual charge. Scottish Widows offers a flexible ISA and Hargreaves Lansdown does not. Minimums are £25/month or £100 lump sum at Hargreaves Lansdown and £50 at Scottish Widows.
Hargreaves Lansdown offers a SIPP (platform fee applies). Scottish Widows offers a SIPP (0.25% per year, capped at £198).
Hargreaves Lansdown scores 4.3 out of 5 on Trustpilot (Excellent) from over 21,000 reviews. Scottish Widows scores 4.6 out of 5 (Excellent) from over 13,000 reviews. Price. Even after the cuts, reviewers and commentators note cheaper alternatives for the same investments. Common gripes are the 1.5% FX fee on US shares and the dated feel of parts of the web platform.
Yes. UK platforms accept ISA and SIPP transfers in, and you start the transfer with the receiving provider rather than the one you are leaving. Hargreaves Lansdown charges free on withdrawals and Scottish Widows charges free (CHAPS same-day payment £25). Transfer as cash and you are out of the market while it settles; transfer in specie and you keep your holdings but it takes longer.
Hargreaves Lansdown or Scottish Widows, the account is the easy part. What decides when you can retire is how much goes in and for how long. Delphina works that out from what you already hold and what you pay in each month.
Free to check. No card required. Takes about two minutes.