Both are FCA regulated and FSCS protected. The real differences are fees, investment range and how each platform feels to use. Here is the honest comparison.
Fees verified July 2026. Capital at risk. Information, not financial advice.
Hands-off investors happy to hold only Vanguard index funds and LifeStrategy.
Investors who want the fullest service, research and support and will pay a premium for it.
| Fee | Vanguard | Hargreaves Lansdown |
|---|---|---|
| Platform fee | £4/month minimum below £32k; 0.15% above £32k, capped at £375/year | 0.35% on funds up to £250k (tiered lower above); shares capped at £45/year in an ISA and £150/year in a SIPP |
| Share dealing | Not available (funds and Vanguard ETFs only) | £6.95 per trade (cut from £11.95 in March 2026) |
| Fund dealing | Free | £1.95 per trade (free via regular investing) |
| FX fee | None (GBP funds) | 1% on the first £5k, tiered lower above |
| Stocks & Shares ISA | Platform fee applies | Platform fee applies |
| SIPP | Platform fee applies | Platform fee applies |
| Withdrawals | Free | Free |
| Minimum to start | £100/month or £500 lump sum | £25/month or £100 lump sum |
Long-term investors praise the low fund costs and the simplicity of LifeStrategy portfolios.
The £4 minimum monthly fee frustrated smaller investors when it landed, and some reviews mention slow customer service.
Read Vanguard reviews on TrustpilotService 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 TrustpilotVanguard UK is the default answer for one-fund index investing. If your plan is a LifeStrategy or FTSE Global All Cap fund and nothing else, the combination of cheap funds and a capped 0.15% platform fee is excellent, especially above £32,000.
Below £32,000 the £4 monthly minimum changes the maths, and a free platform like Trading 212 or Prosper holding a similar Vanguard ETF can work out cheaper. You also cannot hold individual shares or other fund managers' products.
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.
A 0.2% fee difference is worth optimising. Knowing whether you are saving enough in the first place is worth far more. Delphina models your pensions, ISAs and investments and tells you where you actually stand.