Hargreaves Lansdown vs AJ Bell: Which UK Platform Is Better? (2026)
The UK's two big full-service investment platforms compared on the 2026 fees. How Hargreaves Lansdown and AJ Bell differ on cost, range, FX and service, and which one suits you.
Written by an 11-year retail-brokerage insider. · Updated 11/6/2026
Hargreaves Lansdown and AJ Bell are the UK’s two best-known full-service investment platforms. Both let you hold funds, shares, ETFs and investment trusts in an ISA or SIPP, both have been around for decades, and both cut or tweaked their fees in 2026. The honest summary is that AJ Bell is the cheaper all-rounder and Hargreaves Lansdown is the premium one you pay a little more for. Here’s the detail.
The short version
- Choose AJ Bell if you want a wide range at a lower cost, with cheaper FX and dealing.
- Choose Hargreaves Lansdown if you value its research, service and breadth most, and will pay a bit more for the experience.
How they compare
| Hargreaves Lansdown | AJ Bell | |
|---|---|---|
| Platform fee | 0.35%/yr (shares/ETFs capped) | 0.25%/yr (shares capped £42 ISA, £120 SIPP) |
| Share dealing | Up to £6.95 | £5 (£3.50 frequent) |
| Fund dealing | £1.95 | £1.50 |
| Regular investing | Free | Free |
| FX fee | ~1% tiered | 0.75% (capped) |
| Range | Funds, shares, ETFs, trusts | Funds, shares, ETFs, trusts |
| Research and service | Market-leading | Good |
| Best suited to | Research and service first | Lower cost, all-round |
Illustrative summary. Both changed fees in 2026, so check current terms.
Cost
AJ Bell wins on price across the board. Its 0.25% platform fee undercuts Hargreaves Lansdown’s 0.35% (itself cut from 0.45% in March 2026), and its dealing and FX charges are lower too. On larger fund holdings, that 0.10% difference compounds into real money over time. Hargreaves Lansdown isn’t outrageous, especially after its cut, but it’s no longer trying to be the cheapest.
Range
There’s little to separate them here. Both offer a very wide choice of funds, shares, ETFs and investment trusts, far more than the ETF-only apps. Hargreaves Lansdown’s range and research tools are marginally broader, but for most investors either has everything you need.
Research and service
This is Hargreaves Lansdown’s main justification for its higher price. Its research, analysis and customer service are widely regarded as the best in UK retail investing. AJ Bell’s are good and perfectly sufficient for most people, just not as polished. If you lean on platform research and value hand-holding, HL earns some of its premium back.
FX and dealing
If you buy overseas shares, AJ Bell’s 0.75% FX cap beats Hargreaves Lansdown’s roughly 1% tiered rate. Both now offer free regular investing, which matters more than one-off dealing fees for steady investors, but AJ Bell is a touch cheaper on one-off trades too.
Which should you pick?
- Cost-conscious all-rounder: AJ Bell. Lower fees, wide range, free regular investing.
- Research and service above all: Hargreaves Lansdown, if the experience is worth the extra to you.
For most long-term investors building a fund or ETF portfolio, AJ Bell’s lower running cost is the more rational pick. Hargreaves Lansdown makes most sense if you genuinely use and value its research and service.
The bottom line
Both are solid, established homes for an ISA or SIPP, and neither is a bad choice. It comes down to whether you’d rather keep costs as low as a full-service platform allows, or pay a little more for the most polished experience in the market. Read our full reviews of Hargreaves Lansdown and AJ Bell, check the cost breakdown, or compare them with the rest on Brokerlens.
Educational information, not personal advice. Platform fees change, so always check current terms. We may earn a commission if you open an account through our links, which never affects which providers we recommend.