PRICE IMPROVEMENT
Going the extra mile to get you better prices for your trades
Important info: Our website offers information about investing and saving, but not personal advice. If you're not sure which investments are right for you, seek advice. Remember that investments can go up and down in value, so you could get back less than you put in.
Our focus is getting you the best price we can for your deal, and our price improvement does just that.
We reach out to multiple brokers and get prices for the trade you’re looking to make. Then we simply choose the quote that costs the least.
So, you get the best quote from our brokers, often beating the primary exchange price.
How we make our price improvements
Our Best Execution and Order Management policy sets out how we try and ensure the best possible outcomes for our clients when providing quotes and executing orders.
When you ask for a quote, we go out to multiple brokers and return you the best one. Price improvement is when this quote is better than the best primary exchange price available at the same time.
This price difference effectively saves you money.
From April to October 2024, we were able to make price improvements on 94% of all trades. For those trades with price improvements, the average price improvement was £18, based on an average trade size of £9,311.
How is it calculated?
Price improvement is calculated by finding the difference between the best price on the primary exchange at the quote time and the execution price (the price the deal is made at). This example excludes taxes and charges.
| Client order | 1,000 shares |
|---|---|
| Best primary exchange price (per share) | £7.50 |
| Execution price (per share) | £7.49 |
| Price improvement (per share) | £0.01 |
| Saving | £10.00 |
Choose your account
Our two most popular investment accounts are the HL Stocks and Shares ISA and the HL Fund and Share Account.
You can hold shares, alongside other investments, in either account. Get started by opening an account today, or try our interactive account filter for our full range of account options. If you choose to open more than one account, you’ll be able to see everything with a single set of log in details.
Investments rise and fall in value, so you could get back less than you invest. Tax rules can change and benefits depend on individual circumstances. Our website doesn’t provide personal advice, so ask for advice if you’re not sure what’s right for you.
Stocks and Shares ISA
A simple way to invest free from UK tax.
- Pay in £20,000 a year
- UK tax-free growth and withdrawals
- Competitive charges, giving you value for money
- Open your ISA with a £100 lump sum, or £25 a month
Fund and Share Account
A low-cost, flexible investment account that makes anytime trading quick and easy.
- No limits on what you can pay in
- Make use of tax-free dividend allowance
- Competitive charges, giving you value for money
- Open your account with a £1 lump sum, or £25 a month
Get our expert share research direct to your inbox every week
Join the 180,000 people already signed up. Don’t miss out on a wealth of insight including:
- Our latest share research
- Top tips to improve your investment decisions
- What to expect from the stock market in the week ahead
HL has a huge range of investment options. The information is straightforward and accessible which I found quite easy for someone like me who’s not an investment pro.”
Lynne
Dealing considerations
Price and costs are the main things we look for in getting you the best deal. But there might be times when we need to consider other factors.
For example, when prices are moving quickly, we want to place your deal as soon as possible. So, speed is important.
The size and investment you’re trading might also impact who we deal with. For example, if you’re buying or selling a large quantity of an investment, or the investment isn’t frequently traded.
On these occasions we might need to focus on certain brokers. These will be the ones most likely to be able to place your deal and settle it. If you give us specific instructions on how you want us to place your trade, we will follow these. But it might impact the price you get.
We treat all our clients the same – as retail clients. This means we don’t treat you as a professional investor and it gives you the best regulatory protection.
Online share dealing costs
| Deals in the previous month | Dealing charge |
|---|---|
| 0-9 deals | £11.95 |
| 10-19 deals | £8.95 |
| 20+ deals | £5.95 |
| Monthly investing | Free |
The online share dealing charge is determined by the number of deals you placed in the previous calendar month. We count deals placed across all the HL accounts held under the same client number. The above covers shares, exchange traded funds and investment trusts, there is no dealing fee on fund dealing.
How we could help you save money
- Free to hold shares in the Fund and Share Account, 0.45% p.a charge (capped at £45 p.a) to hold in an ISA
- No inactivity fees
- Invest in shares by monthly direct debit for free
- No charge for reinvesting dividends
Awards
Share Dealing Customer Satisfaction Winner
Finder Awards 2024
Best Investment App
Boring Money Awards 2024
Best Online Stockbroker
The Personal Finance Awards 2023/2024
Help and support
If you have any questions about share dealing, call our helpdesk or send us a message.