ii Referral GuideIndependent

Home / Compare / ii vs HL

Interactive Investor vs Hargreaves Lansdown

Is Interactive Investor cheaper than Hargreaves Lansdown?

For funds, yes, from about £20,600. Below that, and for shares and ETFs above £100,000, HL costs less: HL charges a percentage that grows with your portfolio, ii a flat monthly fee. Charges checked on both sites .

Updated

Get 6 months free on ii How to transfer

Capital at risk. New ii customers only; add or transfer £5,000+ within 12 months. Full terms. Referral link: we may earn a reward from ii if you qualify.

The short answer

Find your situation

Platform charges for an ISA. HL applies its fund tiers to each account separately, which matters if you hold an ISA and a SIPP there.

  • Mostly funds, worth more than ~£20,600ii is cheaperAt £100,000: £350 a year on HL, £71.88 on ii Core. At £250,000: £875 against £179.88 on ii Plus. Move your ISA ↓
  • Mostly funds, worth less than ~£20,600HL is cheaperAt £10,000: £35 a year on HL against £71.88 on ii. The referral brings ii's year one down to £35.94. Close call ↓
  • Shares and ETFs, £20,600 to £100,000ii is cheaperHL charges 0.35% on shares, capped at £150 a year; ii Core is £71.88. Move your ISA ↓
  • Shares and ETFs, over £100,000HL is cheaperii moves to Plus at £179.88 a year; HL's shares charge stays capped at £150. Close call ↓
  • You buy and sell shares oftenii costs less per trade£3.99 per UK/US share trade on ii against £6.95 on HL (HL drops to £3.95 at 20+ trades a month).

When HL is only slightly cheaper

Just below £20,600 in funds, or above £100,000 held only in shares, HL's lower charge saves a couple of pounds a month. If you also trade shares, ii's £3.99 per UK/US share trade against HL's £6.95 can cover that; the calculator shows how many trades it takes.

Sources, checked : ii charges · HL ISA charges

Get 6 months free on ii (add £5,000 · terms apply)

Three routes from HL

Matched to £100,000 in funds, as set in the calculator below. Change it ↓

Stay with HL

At £100,000 in funds: £350 a year at HL, £278 more than ii.

  • Best whenFunds under about £20,600, or only shares and ETFs above £100,000.
  • TimingThe referral has no published end date, so there’s no deadline to beat. Look again as your portfolio grows.
  • FeesHL charges 0.35% on funds up to £250,000; shares and ETFs 0.35%, capped at £150 a year. No exit fees if you move later.
If it’s close, what to weigh ↑

Fits £100,000 in funds

Move your ISA to ii

At £100,000 in funds: £72 a year on ii Core, £35.94 in year one with the referral.

  • Best whenYour HL ISA holds more than about £20,600 in funds, or £20,600 to £100,000 in shares.
  • TimingOpen the ii ISA through the referral link first, then request the transfer from inside ii. According to ii, ISA transfers typically take up to four weeks for cash and six for investments, and longer if your current provider is slow.
  • EligibilityThe £5,000 must arrive within 12 months of opening; a transfer counts once it completes. Stay on Core or Plus, because upgrading to Premium ends the free months.
  • FeesHL has no exit fees and ii charges nothing to transfer in. An in-specie transfer keeps you invested.
Open your ii ISA through the referral link

Move everything to ii

One ii plan fee covers your ISA, SIPP and Trading Account: £71.88 a year on Core up to £100,000 in total, £179.88 on Plus above.

  • WhyHL applies its charges to each account separately. ii’s plan fee covers ISA, SIPP and Trading Account, with the pension admin fee included.
  • EligibilityOpening a SIPP? The £5,000 must be paid or transferred into the pension itself, not another account.
  • Until 30 Nov 2026Moving £20,000 or more? Open your new ii accounts and instruct the transfers (or pay in) by 30 November for £100–£5,000 cashback, tiered on the total across your new SIPP, ISA and Trading Account (transfers must complete within a year). It’s separate from the referral’s 6 months with no account fee. ii says don’t rush a pension transfer to meet a deadline. Details
  • PensionsCheck for exit fees, and don’t give up guaranteed annuity rates, a lower protected pension age or employer contributions. ii’s own advice: “don’t rush any decision.” HL’s SIPP charges match its ISA, applied to the SIPP on its own.
Open through the referral link

Step by step: transfer checklist ↓ · when to transfer · Capital at risk.

Your numbers

ii vs HL for your portfolio

Enter what you hold at HL today. For trading costs and all four platforms side by side, use the Interactive Investor fee calculator.

ii a year£72Core plan · year one with referral £35.94
HL a year£350ISA platform charge
ii is £278 a year cheaper at £100,000That's £2,781 over 10 years at today's value, before the referral's six free months.Your routes from HL ↑

For this mix, ii is cheaper than Hargreaves Lansdown from £20,600.

Side by side

Annual platform charge by portfolio size

HL cut its fund charge from 0.45% to 0.35% in early 2026. These figures use the current rates.

All in funds

ii vs HL, funds
PortfolioiiHLDifference
£10,000£72Core£35HL cheaper by £37
£20,000£72Core£70HL cheaper by £2
£30,000£72Core£105ii cheaper by £33
£50,000£72Core£175ii cheaper by £103
£75,000£72Core£263ii cheaper by £191
£100,000£72Core£350ii cheaper by £278
£150,000£180Plus£525ii cheaper by £345
£250,000£180Plus£875ii cheaper by £695
£500,000£180Plus£1,500ii cheaper by £1,320
£1,000,000£180Plus£2,750ii cheaper by £2,570

All in shares, ETFs and trusts

ii vs HL, shares and ETFs
PortfolioiiHLDifference
£10,000£72Core£35HL cheaper by £37
£20,000£72Core£70HL cheaper by £2
£30,000£72Core£105ii cheaper by £33
£50,000£72Core£150ii cheaper by £78
£75,000£72Core£150ii cheaper by £78
£100,000£72Core£150ii cheaper by £78
£150,000£180Plus£150HL cheaper by £30
£250,000£180Plus£150HL cheaper by £30
£500,000£180Plus£150HL cheaper by £30
£1,000,000£180Plus£150HL cheaper by £30

Beyond the fee

Where each one wins

Where ii is better

  • Larger fund portfolios. The fee stays flat while HL's 0.35% keeps growing up to £250,000.
  • ISA and SIPP together. One ii plan fee covers both; HL applies its tiers to each account separately.
  • Share dealing. £3.99 per UK/US share trade against £6.95.
  • Family. Plus includes five free family accounts and free Junior ISAs.

Where HL is better

  • Small fund portfolios. Under ~£20,600, 0.35% costs less than £71.88.
  • Large shares-only portfolios. Above £100,000, HL's £150 cap beats ii Plus at £179.88.
  • Fund dealing. £1.95 per fund trade against £3.99 on ii Core (£1.49 on Plus).
  • Fund discounts. HL says it negotiates lower charges on over 500 funds.

Switching from HL

Transfer checklist

HL doesn't charge exit fees, and ii doesn't charge to transfer in. According to ii, ISA transfers typically take up to four weeks for cash and six for investments, and longer if your current provider is slow.

  1. Open the matching ii account through the referral link

    ISA to ISA, SIPP to SIPP. Opening through the link is what applies the referral; it can't be added afterwards.

  2. Request the transfer from inside ii

    ii contacts HL for you. An in-specie transfer moves your holdings as they are; a cash transfer sells them first, so you're out of the market for a while.

  3. Make sure £5,000 arrives within a year

    Transfers and deposits count only if they complete within 12 months of opening. If you're opening a SIPP, the £5,000 has to go into the pension.

  4. The six free months start

    Within 10 working days of qualifying. Stay on Core or Plus; upgrading to Premium ends them for good.

Moving a pension? Before transferring, check whether you'll be charged exit fees and make sure you won't lose valuable benefits, such as guaranteed annuity rates, a lower protected pension age or matching employer contributions. If you're unsure, speak to an authorised financial adviser.

Sources, checked : HL ISA charges · ii charges · ii referral terms · HL SIPP charges (checked : same as the ISA, charged per account).

Quick answers

ii vs HL: common questions

Is Interactive Investor cheaper than Hargreaves Lansdown?

For funds, from about £20,600. HL charges 0.35% on the first £250,000 of funds, while ii charges a flat £71.88 a year on Core up to £100,000 and £179.88 on Plus above. Below about £20,600, and for shares and ETFs above £100,000 (where HL caps its charge at £150 a year), HL costs less. Try your own mix in the fee calculator.

Does HL charge each account separately?

Yes. HL applies its fund tiers to each account on its own, so an ISA and a SIPP are charged separately. ii’s one plan fee covers an ISA, SIPP and Trading Account, with the pension admin fee included.

Does it cost anything to move from HL to ii?

HL doesn’t charge exit fees, and ii doesn’t charge to transfer in or out. Open the ii account through the referral link first, then request the transfer from inside ii; ii says ISA transfers typically take up to four weeks for cash and six for investments, and longer if your current provider is slow.

Moving from HL? Open through the referral link first

Capital at risk. New ii customers only; add or transfer £5,000+ within 12 months. We may earn a reward if you sign up through this link. Tax treatment depends on individual circumstances and may change. Full terms and conditions

Get 6 months free