If you are looking for an investment platform, you may be considering investing app Dodl* or the UK's largest platform, Hargreaves Lansdown*. In this comparison, we look at the key features of each offering, focusing on their similarities and differences in terms of service, products and charges.
Dodl vs Hargreaves Lansdown - which is better?
Choice of 30 funds and 80 UK & US stocks
|HL Select funds
Foreign currency exchange
Spread betting and CFDs
|Products||ISA, GIA (General Investment Account), Lifetime ISA, SIPP||Active Savings
Fund and share account
ISA, GIA (General Investment Account), Lifetime ISA, Junior ISA, SIPP, Junior SIPP
|Minimum investment||£100 or £25 monthly investment||£1 for a fund and share account
£100 for an ISA or SIPP (or a regular £25 per month)
|Platform fees||0.15% annual charge (minimum £1 per month, per product)
Additional underlying fund charges
|On the value of your portfolio between £0-£250,000 there is a 0.45% annual charge.
Between £250,000-£1m - 0.25% per annum charge
Between £1m-£2m - 0.10% per annum charge
Over £2m - 0% per annum charge
Additional underlying fund charges
Dealing charges (based on deals completed in previous month):
0-9 deals - £11.95
10-19 deals - £8.95
20+ deals - £5.95
No charge for Junior ISAs
No charge for holding shares
|Customer reviews (Trustpilot)||3.9/5.0||4.1/5.0|
Dodl vs Hargreaves Lansdown - services
While Dodl is an app-only investment platform, Hargreaves Lansdown is a more traditional proposition, more in line with Dodl's parent company, AJ Bell. Dodl offers a streamlined investment choice, with 30 funds and 80 UK & US shares, while Hargreaves Lansdown has a wide array of options, including more esoteric options, such as spread betting and CFDs.
Dodl vs Hargreaves Lansdown - products
Dodl has the wrappers you would expect from a mainstream investment platform, namely stocks and shares ISAs, General Investment Accounts and SIPPs, as well as a Lifetime ISA. However, Hargreaves Lansdown has all of those options, plus savings accounts, cash ISA, Junior ISA and Junior SIPP. It also has a dedicated fund and share account. While Dodl provides investors with the capacity to invest in shares, it is currently limited to 80 UK & US companies, compared with more than 8,000 from Hargreaves Lansdown.
Dodl vs Hargreaves Lansdown - minimum investment
Dodl requires a minimum investment of either £100 as a lump sum, or a regular investment of £25 per month. Meanwhile, Hargreaves Lansdown has different levels of minimum investment, depending on the type of account you are opening. For example, for a fund and share account you can start with as little as £1, while for an ISA or SIPP you will need to put in a lump sum of at least £100, or £25 per month, the same as for Dodl.
Dodl vs Hargreaves Lansdown - platform fees
Dodl has established itself as one of the cheapest platforms in the UK, with a fee of just 0.15% per product, per year. However, it has a minimum payment of £1 per month per product, which means you have to invest more than £8,000 to bring the charges down to the 0.15% level. With no additional subscription fee or commission on buying or selling investments, it still represents good value.
For Hargreaves Lansdown, its charges start at 0.45% for the portion of your portfolio up to £250,000. Unlike Dodl which charges 0.15% for holding shares, there is no charge for holding shares with Hargreaves Lansdown, however, there is a dealing charge of £11.95 for buying and selling shares, reduced to £5.95 per transaction if you completed more than 20 deals in the previous month.
Summary: Dodl vs Hargreaves Lansdown
Overall, Dodl* and Hargreaves Lansdown* are significantly different from one another. On the one hand, Hargreaves Lansdown is a large, well-established platform with a diverse offering. Dodl, on the other hand, is new to market, app-only and specifically focused on offering a simple, pared-back proposition. A better comparison is between Hargreaves Lansdown and Dodl's parent company, AJ Bell, which you can find in our article "AJ Bell vs Hargreaves Lansdown - features and fees compared".
If a link has an * beside it this means that it is an affiliated link. If you go via the link Money to the Masses may receive a small fee which helps keep Money to the Masses free to use. But as you can clearly see this has in no way influenced this independent and balanced review of the product. The following link can be used if you do not wish to help Money to the Masses - Hargreaves Lansdown