Best Trading Platforms UK Compared – The News Minute
If you live in the United Kingdom and want to start investing or trading online, there are several aspects to consider when trying to find the right trading platform. At first glance, the specifics can be overwhelming. There are many different online trading platforms in the UK to choose from, how and what assets to invest in, and what fees and tools to use. From an administrative perspective, there are specific laws and government regulations related to trading online in the UK and, of course, the question of taxes on capital gains. In our reviews, we have answered questions and outlined all these aspects of different trading platforms in the UK, all of which are Financial Conduct Authority (FCA) regulated. We’ve also answered questions such as why investing in stocks and other assets is a good idea. There are several “How-tos,” for example, registering an account and trading online in the UK. You can also find overviews of different types of trading and asset classes.
Most importantly, to help you get started, you’ll need to find a trading platform UK. To assist you with that, we have created lists of trading platforms in the UK along with detailed information and links for each platform. To provide accurate information, we’ve analysed all the UK trading platforms and reviewed them on our site. This way, you can find the lowest trading fees, beginner-friendly trading applications, what types of financial markets are offered and if 24/7 customer support is available.
Overview of the Best Trading Platforms in the UK
Our researcher’s team of trading professionals has analysed and ranked trading platforms UK looking at features, user experience fees, and other aspects to produce the below list. We aim to provide information on investment options catering to beginners and experienced traders in the United Kingdom.
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1. DeGiro – Best Trading Platform Overall
DeGiro – Rating 5 out of 5 Stars
DeGiro made it to our list as the best choice for online stock trading platform thanks to its coverage of over 50 exchanges in 30 countries worldwide. Fees for international stock trading vary in DeGiro but are generally low compared to other online brokers. What makes DeGiro particularly attractive from this point of view is their low foreign exchange fee, sitting at a flat 0.25%. This is an essential aspect because when you buy foreign stocks, you buy the stock in the stock’s national currency. It’s not uncommon for other brokers to have currency exchange fees of 0.50-1%.
DeGiro launched its services in 2008, and in 2021 it merged with a Dutch bank. Today, they are the biggest execution-only trading platform in Europe with a banking licence. They serve over 2 million customers worldwide. Besides share dealing accounts, DeGiro offers trading on ETFs (Exchange Traded Funds), bonds, futures, options, indices, and commodities. DeGiro offers no forex trading nor CFDs, an important note to make for anyone considering trading such assets.
| Overview | Type |
|---|---|
| Review rating | 5 out of 5 stars |
| Licence no (FCA) | 595455 |
| Number of tradable assets | 10,000+ |
| Types of tradable assets | Stocks, ETFs, Bonds, Futures, Options, Indices, Commodities |
| Regulation & licence | FCA, AFM, DNB, BaFin |
| Payment options | Visa, MasterCard, Bank Transfer, Rapid Bank Transfer |
| Minimum deposit | £0 |
| Type of trading accounts | Custody Account, Basic Account, Active Account, Trader Account, Day Trader Account |
| Features | 360 Trading Platform, Calendar, News, Portfolio |
| Leverage | Maximum 50:1 |
| Platform Fee | Amount |
|---|---|
| Stock trading fee | Variable (low) |
| Forex trading fee | Not available |
| Inactivity fee | No fee |
| Withdrawal fee | No fee |
| Pros | Cons |
|---|---|
| ✅ 50+ stock exchange | ❌ No forex trading |
| ✅ Low fees | ❌ No CFDs |
| ✅ No minimum deposit | ❌ No third-party software |
| ✅ Beginner-friendly |
2. eToro – Best Trading Platform for Low Fees
eToro – Rating 5 out of 5 Stars
eToro is a well-established UK broker offering low-cost trading, the closest option to providing a free trading platform. They launched their services in 2007 and made it into the minds of everyone through their engaging advertisements; as of today, they host over 27 million traders worldwide.
Besides great advertisement, eToro is known for 0% commission trading for stocks, forex trading, ETFs, and bonds. Some of their products have fees applicable, but always in the low range compared to the competition. Trading cryptos such as Bitcoin on eToro, for example, carries a 1% flat fee for buying and selling. Then there are minor additional fees related to when you withdraw funds and currency exchange when transferring funds.
For stock traders, this stock broker is an extremely attractive option because they offer shares from the world’s biggest stock exchanges, including UK shares from the London Stock Exchange (LSE), NASDAQ, and New York Stock Exchange (NYSE). They also offer stocks from the Euronext pan-European stock exchange, which opens the door to other European countries.
Considering the availability of traditional asset classes and 0% commission, eToro is a top choice. The platform itself lends itself very well to beginners as it’s user-friendly and offers fully managed portfolios. Here you can even buy fractional shares, an affordable option to allow you to buy a part of a share instead of a whole, from as little as £1. eToro is an easy-to-use platform and lends itself well to new UK investors.
| Overview | Type |
|---|---|
| Review rating | 5 out of 5 stars |
| Licence no (FCA) | 583263 |
| Number of tradable assets | 3,000+ |
| Types of tradable assets | Stocks, Forex, ETFs, Indices, Commodities, Bonds, Cryptocurrencies, CFDs |
| Regulation & licence | FCA, CIF, CySec |
| Payment options | eToro Money, Visa, MasterCard, Neteller, Skrill, Rapid Transfer, iDeal, Klarna, Trustly, Bank Transfer |
| Minimum deposit | £10 |
| Type of trading accounts | Demo Accounts, Live Account, Islamic Account, Corporate Account, eToro Professional Account |
| Features | Social trading, Smart portfolios, Popular investor’s program |
| Leverage | 30:1 |
| Platform Fee | Amount |
|---|---|
| Stock trading fee | Free |
| Forex trading fee | Spread, example: 2.1 pips for GBP/USD |
| Inactivity fee | £10 per month after one year of inactivity |
| Withdrawal fee | £5 (minimum withdrawal £30) |
| Pros | Cons |
|---|---|
| ✅ Zero commission trading on stocks | ❌ High non-trading fees |
| ✅ Low fees | ❌ Limited customer service |
| ✅ Segregated accounts | |
| ✅ Beginner-to-advanced traders |
| Overview | Type |
|---|---|
| Review rating | 5 out of 5 stars |
| Licence no (FCA) | 583263 |
| Number of tradable assets | 3,000+ |
| Types of tradable assets | Stocks, Forex, ETFs, Indices, Commodities, Bonds, Cryptocurrencies, CFDs |
| Regulation & licence | FCA, CIF, CySec |
| Payment options | eToro Money, Visa, MasterCard, Neteller, Skrill, Rapid Transfer, iDeal, Klarna, Trustly, Bank Transfer |
| Minimum deposit | £10 |
| Type of trading accounts | Demo Accounts, Live Account, Islamic Account, Corporate Account, eToro Professional Account |
| Features | Social trading, Smart portfolios, Popular investor’s program |
| Leverage | 30:1 |
| Platform Fee | Amount |
|---|---|
| Stock trading fee | Free |
| Forex trading fee | Spread, example: 2.1 pips for GBP/USD |
| Inactivity fee | £10 per month after one year of inactivity |
| Withdrawal fee | £5 (minimum withdrawal £30) |
| Pros | Cons |
|---|---|
| ✅ Zero commission trading on stocks | ❌ High non-trading fees |
| ✅ Low fees | ❌ Limited customer service |
| ✅ Segregated accounts | |
| ✅ Beginner-to-advanced traders |
3. Saxo – Best Trading App
Saxo – Rating 4.5 out of 5 Stars
Saxo is originally a Danish investment bank that opened its doors back in 1992, effectively been operational for over 30 years. They have since developed their own proprietary trading platform that is available globally, including the UK, through their FCA licence. In addition to being regulated by the FCA, Saxo has several tier-1 and tier-2 licences for other jurisdictions. With their incredible track record and background as an investment bank, we consider Saxo a very reliable broker and safe trading platform in the UK. When writing this, they manage over £70,000,000 worth of client assets. Their proprietary electronic trading platform is not only used by traders, but also banks and financial institutions, advisors, and fintech companies that rely on their data feed for accurate information.
When it comes to trading online in the UK, Saxo offers the following financial asset classes: stocks, Forex, indices, futures, commodities, bonds, ETFs, and CFDs. For share dealing, there are assets tradable from 23 different stock exchanges worldwide, totalling over 22,000+ stocks. In total, traders have access to over 60,000 assets.
| Overview | Type |
|---|---|
| Review rating | 5 out of 5 stars |
| Licence no (FCA) | 551422 |
| Number of tradable assets | 60,000+ |
| Types of tradable assets | Stocks, Forex, Indices, Futures, Commodities, Bonds, ETFs, CFDs |
| Regulation & Licence | FCA, FSA, FINMA, MAS, MiFID, SFC |
| Payment options | Visa, MasterCard, Bank Transfer, Rapid Bank Transfer |
| Minimum deposit | £500 |
| Type of trading accounts | Demo Account (20-days), Classic Account, Platinum Account, VIP Account, Professional Account |
| Features | SaxoTrader GO, Saxo Trader PRO, SaxoOpenAPI, TradingView, DynamicTrend, MultiCharts, Updata |
| Leverage | Maximum 50:1 |
| Platform Fee | Amount |
|---|---|
| Stock trading fee | Variable spread |
| Forex trading fee | Spread, example: 0.8 pips for EUR/USD |
| Inactivity fee | £25 per month after three months of inactivity |
| Withdrawal fee | No fee |
| Pros | Cons |
|---|---|
| ✅ 30+ years track record | ❌ Demo account only available for 20 days |
| ✅ 60,000+ tradeable assets | ❌ MetaTrader not available |
| ✅ Low forex trading fee | ❌ High minimum deposit |
| ✅ Beginner-to-advanced traders |
4. Capital.com – Best Trading Platform for Stocks
Capital.com – Rating 5 out of 5 Stars
Capital.com is a CFD-focused broker that was founded in 2016. This is a global stock broker with business offices worldwide, including in the United Kingdom. Naturally, Capital.com is regulated by the FCA in the UK and maintains several other licences to operate in other jurisdictions. As such, UK traders can easily open an account and trade through Capital.com.
When it comes to trading, Capital.com offer share dealing, forex, ETFs, indices, commodities, CFDs, and spread betting. Capital.com offers an impressive range of 6,100+ assets, mainly through its large variety of stocks and CFDs. In total, you will find over 2,400 stocks, from the London Stock Exchange, and from around the world. Capital.com ranks as our best stock trading app and best stock trading platform.
Capital.com generally has low fees. Forex trading is advantageous through Capital.com, and many stocks can be traded for free. Overall, Capital.com is an excellent option for UK traders despite its young age, especially as a share dealing platform.
| Overview | Type |
|---|---|
| Review rating | 5 out of 5 stars |
| Licence no (FCA) | 793714 |
| Number of tradable assets | 6,100+ |
| Types of tradable assets | Stocks, Forex, ETFs, Indices, Commodities, CFDs |
| Regulation & Licence | FCA, CySec, ASIC, MiFID |
| Payment options | Visa, MasterCard, Neteller, Skrill, PayPal, Bank Transfer, Rapid Bank Transfer |
| Minimum deposit | £20 |
| Type of trading accounts | Demo Account, Standard Account, Plus Account, Premier Account, Invest Account |
| Features | AvaTrade Go, WebTrader, AvaSocial (copy trading), AvaOptions, DupliTrade, MetaTrader 4, MetaTrader 5 |
| Leverage | Maximum 30:1 |
| Platform Fee | Amount |
|---|---|
| Stock trading fee | Free |
| Forex trading fee | Spread, example: 0.6 pips for EUR/USD |
| Inactivity fee | No fee |
| Withdrawal fee | No fee (minimum withdrawal £50) |
| Pros | Cons |
|---|---|
| ✅ 6,200+ tradeable assets | ❌ High fees on stock index CFDs |
| ✅ Low deposit limit | ❌ MetaTrader 5 is not available |
| ✅ Great customer service | |
| ✅ Beginner-friendly |
5. Pepperstone – Best Platform for Advanced Traders
Pepperstone – Rating 4 out of 5 Stars
Pepperstone is an online trading platform UK that focuses on CFD trading. They also offer spread betting; any earnings made from this trading product are free from tax in the UK. You can trade stocks, forex, indices, commodities, and ETFs through either CFDs or spread betting. In total, there are over 1,200 tradeable assets available.
Pepperstone launched its services in 2010 and opened a UK branch in 2015 to better serve its clients in Europe and specifically the United Kingdom. As a UK broker, they are regulated by FCA with additional coverage from several licences in other jurisdictions worldwide.
Pepperstone is unusual because it has no requirements for minimum deposits and withdrawals, making it an excellent option for traders with a limited trading budget.
| Overview | Type |
|---|---|
| Review rating | 4 out of 5 stars |
| Licence no (FCA) | 684312 |
| Number of tradable assets | 1,200+ |
| Types of tradable assets | Stocks, Forex, ETFs, Indices, Commodities, CFDs |
| Regulation & Licence | FCA, ASIC, DFSA |
| Payment options | Visa, MasterCard, Neteller, Skrill, Klarna, Trustly, Bank Transfer, Rapid Bank Transfer |
| Minimum deposit | No minimum requirement |
| Type of trading accounts | Demo Account (30-days), Standard Account, Razor Account |
| Features | cTrader, Social Trading, TradingView, MetaTrader 4, MetaTrader 5, Capitalise.ai |
| Leverage | Maximum 500:1 |
| Platform Fee | Amount |
|---|---|
| Stock trading fee | Variable spread |
| Forex trading fee | Spread, example: 1.59 pips for GBP/USD |
| Inactivity fee | No fee |
| Withdrawal fee | No fee (no minimum requirement) |
| Pros | Cons |
|---|---|
| ✅ No requirements for deposit & withdrawal | ❌ Demo account only available for 30 days |
| ✅ Great customer service | ❌ No news feeds |
| ✅ Lots of third-party software | |
| ✅ Beginner-friendly |
6. Forex.com – Best Platform for Forex Trading
Forex.com – Rating 4 out of 5 Stars
Forex.com has close to 100 currency pairs to trade, making this the best online trading platform for forex trading in the UK. Besides trading forex, this online broker also offers CFDs on various asset classes: stocks, indices, commodities, ETFs, and bonds. Overall, they have low fees and fair-priced non-trading fees. Regarding features, Forex.com has a diverse set of trading software, perfect if you want to trade forex.
Forex.com UK is viewed as a very reliable option. They launched their services all the way back in 2001 and are part of Stone Group Inc, a Nasdaq-listed company (SNEX). The FCA regulates Forex.com. In addition to their UK licence, they have several top-tier licences from around the world, including CFTC, NFA, and SFC. Forex.com is great for anyone looking to start investing in forex trading in the UK.
| Overview | Type |
|---|---|
| Review rating | 4 out of 5 stars |
| Licence no (FCA) | 446717 |
| Number of tradable assets | 4,500+ |
| Types of tradable assets | Forex, Stocks, CFDs, Indices, Commodities, ETFs, Bonds |
| Regulation & Licence | FCA, CFTC, NFA, SFC |
| Payment options | Visa, MasterCard, Neteller, Skrill, Klarna, Trustly, Bank Transfer, Rapid Bank Transfer |
| Minimum deposit | £100 |
| Type of trading accounts | Demo Account, Standard Account, Commission Account, Direct Market Access Account, Corporate Account, MetaTrader 5 Account |
| Features | Market 360, Trading Central, Advanced Charts, MetaTrader 5, News, Academy |
| Leverage | Maximum 50:1 |
| Platform Fee | Amount |
|---|---|
| Stock trading fee | Variable |
| Forex trading fee | Spread, example: 1.1 pips for GBP/USD |
| Inactivity fee | £15 per month after one year of inactivity |
| Withdrawal fee | No fee (no minimum requirement) |
| Pros | Cons |
|---|---|
| ✅ ~100 currency pairs | ❌ Above average fee on stock CFDs |
| ✅ Low forex fees | ❌ No 24/7 customer service |
| ✅ Safe and reliable | |
| ✅ Beginner-to-advanced |
7. AvaTrade – Best Trading Platform for Day Trading
AvaTrade – Rating 4 out of 5 Stars
AvaTrade is based in our neighbouring country, Ireland, and is one of the best online trading platforms in all of Europe. As a fully licenced and FCA-regulated platform, AvaTrade offers its services to UK traders.
AvaTrade launched its software platform back in 2006 and is one of the best online trading platform in the verticals of CFDs and forex trading. The CFD options are good; they cover the basic asset classes such as stocks, indices, commodities, ETFs, and spread betting – all at competitive fees. For fees, AvaTrade offers around industry standards for forex trading, which makes them a less attractive option for currencies compared to other UK brokers we have reviewed.
As a Europe-based online broker close to home and heavily regulated by several regulatory bodies, AvaTrade is a solid option. They’ve been operating for many years and serve hundreds of thousands of traders across Europe, slowly increasing their customer base through expanding their operations globally.
| Overview | Type |
|---|---|
| Review rating | 4 out of 5 stars |
| Licence no (FCA) | 783200 |
| Number of tradable assets | 3,000+ |
| Types of tradable assets | Stocks, Forex, ETFs, Indices, Commodities, Bonds, CFDs |
| Regulation & Licence | FCA, CySec, FFAJ, ISA, IIROC, ADGM/FSRA, CBI, BVIFSC, FSCA, ASIC |
| Payment options | Visa, MasterCard, Neteller, Skrill, Bank Transfer, Rapid Bank Transfer |
| Minimum deposit | £100 |
| Type of trading accounts | Demo Account, Standard Account, Retail Account, Professional Account, Islamic Account |
| Features | Web Platform, WebTrader, InvestMate, MetaTrader 4 |
| Leverage | Maximum 30:1 |
| Platform Fee | Amount |
|---|---|
| Stock trading fee | Variable spread |
| Forex trading fee | Spread, example: 2.1 pips for GBP/USD |
| Inactivity fee | £50 per month after three months of inactivity |
| Withdrawal fee | £5 (minimum withdrawal £30) |
| Pros | Cons |
|---|---|
| ✅ Great mobile platform | ❌ High non-trading fee |
| ✅ Lots of features | ❌ Only 24/5 customer service |
| ✅ Segregated accounts | |
| ✅ Beginner-to-advanced traders |
8. Plus500 – Best Trading Platform for Beginners
Plus500 – Rating 4 out of 5 Stars
Plus500 is a longstanding trading platform that offers its services to over 50 countries worldwide, including the United Kingdom. They launched their platform in 2009 and in their most recent years they’ve seen explosive growth, going from 10 million users in 2017 to over 22 million customers worldwide. This is partly due to increased media exposure through sports team advertisements and celebrity endorsements. Plus500 is listed on the London Stock Exchange. All things considered, Plus500 have risen to become one of the premier trading platforms for CFDs, with fully regulated and insured services.
As of 2021, Plus500 offer online stock trading and covers over 2,000 assets in total. This includes leveraged CFDs for stocks, forex, indices, commodities, options, and ETFs. The trading fees on Plus500 align with industry averages, not offering any specific advantages for traders. In recent years, they have improved their educational content to make it easier to onboard new traders and educate them. However, they still have some ways to go compared to competitors that do better in this area. Overall, Plus500 is easy to use and to get started, along with excellent customer service.
| Overview | Type |
|---|---|
| Review rating | 4 out of 5 stars |
| Licence no (FCA) | 509909 |
| Number of tradable assets | 2,000+ |
| Types of tradable assets | Stocks, Forex, ETFs, Indices, Commodities, Options, CFDs |
| Regulation & Licence | FCA, CySec, FI, AFSL, FSCA, SFSA |
| Payment options | Visa, MasterCard, Skrill, Klarna, PayPal, Bank Transfer, Rapid Bank Transfer |
| Minimum deposit | £100 |
| Type of trading accounts | Demo Account, Retail Account, Professional Account |
| Features | WebTrader, Economic Calendar, Trading Education |
| Leverage | Maximum 30:1 |
| Platform Fee | Amount |
|---|---|
| Stock trading fee | Commission free (charge through spread) |
| Forex trading fee | Variable spread |
| Inactivity fee | £10 per month after three months of inactivity |
| Withdrawal fee | No fee |
| Pros | Cons |
|---|---|
| ✅ Proprietary trading platform | ❌ Only CFD trading available |
| ✅ Zero commissions trading | ❌ No third-party software offered |
| ✅ Segregated accounts | |
| ✅ Beginner friendly |
9. Skilling – Best CFD Trading Platform (Contract for Difference)
Skilling – Rating 4 out of 5 Stars
This Scandinavian-owned online trading platform has a focus on CFDs across a range of asset classes. Including stocks, forex, indices, and commodities. In total, they offer over 900 CFD instruments to trade with. Skilling is also well-known for cryptocurrencies, but this product is not available to UK customers right now. Generally, they operate with tight spreads and low fees.
Skilling is relatively new, launched in 2016, that has managed to establish itself as a reliable option in the UK for CFD traders. Skilling has put effort into onboarding new traders, offering a platform with trading education and guides for every service they offer. Skilling also allows you to follow other traders and tap into their library of over 1,000+ trading strategies.
In total, Skilling offers four different accounts Skilling Trader, Skilling cTrader, Skilling MetaTrader 4, and Skilling Copy. Standard and MetaTrader 4 have no commission.
| Overview | Type |
|---|---|
| Review rating | 4 out of 5 stars |
| Licence no (FCA) | 810951 |
| Number of tradable assets | 900+ |
| Types of tradable assets | Stocks, Forex, ETFs, Indices, Commodities, CFDs |
| Regulation & Licence | FCA, CIF, CySec, FSA |
| Payment options | Visa, MasterCard, Neteller, Skrill, Klarna, Trustly, PayPal, Bank Transfer |
| Minimum deposit | £50 |
| Type of trading accounts | Demo Account, Standard Account, Premium Account, MetaTrader 4 |
| Features | Social Trading, Skilling Trader, Skilling cTrader, TradingView, MetaTrader |
| Leverage | Maximum 30:1 |
| Platform Fee | Amount |
|---|---|
| Stock trading fee | Free |
| Forex trading fee | Spread, example: from 0.2 pips for GBP/USD |
| Inactivity fee | No fee |
| Withdrawal fee | No fee |
| Pros | Cons |
|---|---|
| ✅ Low fees | ❌ Only CFDs |
| ✅ Low non-trading fee | ❌ Only 24/5 customer service |
| ✅ Segregated accounts | |
| ✅ Beginner-to-advanced traders |
10. Vantage – Best for Leverage Trading
Vantage – Rating 3.5 out of 5 Stars
If you want to apply leverage in your trading, the Vantage trading platform is a good choice. They are known for offering extremely high leverage, up to 500:1 in some jurisdictions. In the UK, Vantage can only offer leverage up to 30:1 for CFDs on stocks, forex, ETFs, indices, and commodities. This Australian-based broker focuses on low-spread forex trading and CFDs. Vantage also offers spread betting, where earnings are tax-free. Despite being tailored for the Australian market, Vantage is fully regulated by the FCA and positioned to offer all its services to UK traders. Vantage has been operational since 2009.
For the trading verticals that Vantage offer, we consider them a 365 platform due to their thorough coverage, onboarding process, educational centres, and support. Vantage has two tier-1 licences, they use segregated bank accounts with an AA-rated bank and are covered by indemnity insurance.
| Overview | Type |
|---|---|
| Review rating | 3.5 out of 5 stars |
| Licence no (FCA) | 313486 |
| Number of tradable assets | 1,000+ |
| Types of tradable assets | Stocks, Forex, ETFs, Indices, Commodities, CFDs |
| Regulation & Licence | FCA, CIMA, SIBL, VFSC, ASIC, |
| Payment options | Visa, MasterCard, Neteller, Skrill, Broker-to-Broker Transfer, AstroPay, Bank Transfer, Rapid Bank Transfer |
| Minimum deposit | £200 |
| Type of trading accounts | Demo Account, Live Account, MetaTrader 4, MetaTrader 5 |
| Features | Social trading, MetaTrader, ProTrader, TradingView |
| Leverage | Maximum 500:1 |
| Platform Fee | Amount |
|---|---|
| Stock trading fee | Free and variable |
| Forex trading fee | Spread, example: 1.4 pips for GBP/USD |
| Inactivity fee | No fee |
| Withdrawal fee | No fee |
| Pros | Cons |
|---|---|
| ✅ Zero commission trading on many CFD shares | ❌ High minimum deposit |
| ✅ Low non-trading fees | ❌ Less beginner friendly |
| ✅ Segregated accounts | |
| ✅ Good customer service |
Choose the Best Trading Platform UK and Comparison Overview of Fees
There have never been more trading platforms available in the UK, there are hundreds to choose from. As a UK resident wanting to start trading, that abundance can have a paralysing effect. Therefore, it is advisable to consider your priorities before choosing. This may include a specific feature, like automated trading or a copy trading feature, getting the lowest commission possible, or having many financial assets to choose from when trading.
Regardless of what you are looking for, there are many things to consider when searching for a new trading platform UK. What is important to you is highly subjective. What we have done is outline important factors to consider when choosing a UK trading platform.
Safety and Regulations
A requirement for anyone that starts trading online in the UK is to use a licenced broker. A legitimate trading platform UK must be licenced by a trusted regulatory body. At a minimum, the platform should have at least one trading licence. The most significant regulatory body for finance in the UK is the British Financial Conduct Authority (FCA). The FCA is responsible for overseeing the trading and investment industry in the United Kingdom – keeping it safe and transparent for everyone involved. We recommend that you opt for an FCA-licenced trading platform in the UK. This way, you can benefit from a long list of safety nets and peace of mind. This includes:
- • Your funds are segregated: FCA-regulated trading platforms keep client funds in segregated bank accounts. By segregating your funds, the company cannot use your money in any way; it cannot be touched.
- • Taking responsibility: FCA-regulated trading platforms clearly state the high risks of online trading. This information is displayed throughout the platform and when executing trades with certain types of assets, such as leveraged trading.
- • Regular audits: FCA performs regular audits to ensure that the company financials are in good order and their practices are compliant – ensuring that you are safe and protected when trading on the platform.
Besides the FCA, there are other licences and consumer protection available in the UK, which may or may not be used by UK trading platforms:
- • Financial Services Compensation Scheme (FSCS)
- • Cyprus Securities and Exchange Commission (CySEC)
Availability of Financial Assets
There are thousands of tradable assets available in the UK. A financial instrument is an asset that can be traded, such as the Apple stock. All these assets are spread across different asset classes. Different asset classes can be stocks, forex, commodities, ETFs, cryptocurrencies, or indices. Far from all trading platforms offers all the available trading assets.
The availability of many asset classes is one of the most important to look at when assessing online trading platforms. At a minimum, we expect that a trading platform would have the asset classes mentioned above, complemented with:
- • Bonds
- • Commodities
- • Cryptocurrencies
- • ETFs (Exchange-Traded Fund)
- • Forex (Fiat Currencies)
- • Funds
- • Indices
- • Stocks
Another type of asset class that is popular is CFDs (Contract for Differences), these are complex instruments suited for experienced investors. CFDs are typically attractive to active traders who make investments with a short-term plan in mind. When investing in CFDs, you do not trade the underlying stock; instead, you buy and sell a contract that pays the difference between the opening and closing price of trades for the underlying asset. CFDs allow you to short-sell assets along with applying leverages. By nature, CFDs are a high-risk asset class, and we recommend that only experienced traders invest in them. Traditional investors and those with a long-term investment horizon are better off avoiding CFDs and leveraged trading.
Further down on this page about the trading platforms in the UK, we will take a closer look at the most popular asset classes.
Low Trading Fees
Paying fewer fees and commission means better yields on investments made. As such, we always factor in the costs involved with dealing with specific UK brokers. Always check for hidden fees.
- • Commission
- • Spreads
- • Overnight fees
- • Non-trading fee (other fees)
Next, we will outline the main fees related to trading online and what you should consider when choosing the best trading platforms for you. Below that, you will find fee overviews of trading platforms.
Commission
Most trading platforms charge flat fees to enter a position, referred to as a commission. A flat fee means that the fee remains the same regardless of the size of your order; it can be expressed as a percentage or a GBP value.
Many trading platforms charge nothing in commission. These are so-called commission-free trading platforms, making them even more beginner-friendly, as British people with all types of trading budgets can start investing online.
Spreads
The spread is the difference between the buy and the selling price of the traded asset. Sometimes it is also referred to as the difference between the bid and the asking price. Both refer to the spread.
For example, the spread is the difference between the buy and the selling price of the traded asset (APPL market price – APPL platform price = Spread 1 pound sterling/ 0.77% fee).
Overnight Fees
are often called rollover fees; this is a small fee applicable on leveraged instruments where you have borrowed money from a stock broker to increase the position’s value. Essentially, overnight fees are interest on borrowed capital and are applicable when you don’t close positions on the same day.
Non-trading Fee
Non-trading fee relate to the use of funds outside of trading. This typically includes transactions, currency conversions, and inactivity fees.
| Compare Trading Platform Fees | ||||||||
|---|---|---|---|---|---|---|---|---|
| Trading platform | Stocks | Forex | ETFs | CFDs | Cryptocurrencies | Currency conversion | Inactivity fees | Withdrawal fees |
| DeGiro | Low | N/A | Low | Low | N/A | 0.25% | Free | Free |
| eToro | Low | Medium | Low | Low | Low | 0.50% | £10 | £5 |
| Saxo | Medium | Low | Medium | Medium | N/A | 1.00% | £25 | Free |
| Capital.com | Low | Low | Low | High | N/A | 0.70% | Free | Free |
| Pepperstone | Low | Low | Low | Low | N/A | 0.40% | Free | Free |
| Forex.com | High | Low | Medium | Low | N/A | 0.50% | £15 | Free |
| AvaTrade | Low | Medium | Low | Low | N/A | 0.70% | £50 | £5 |
| Plus500 | Medium | High | Medium | Medium | N/A | 0.70% | £10 | Free |
| Skilling | Medium | Medium | Medium | Low | N/A | 0.70% | Free | Free |
| Vantage | Medium | Low | Medium | Medium | N/A | 0.70% | Free | Free |
Customer Service
Besides great trading conditions at a low cost, another aspect we consider is the availability of a helpful and responsive customer support service. If you ever encounter difficulties while trading or have questions that our trading guides do not answer, you need to be able to contact customer service quickly via live chat or telephone support.
Great customer service found in UK trading platforms includes a variety of methods for you to get in contact. Additionally, the customer service team should be responsive at all times, as many asset classes and financial instruments have continuous trading outside of UK trading hours – including weekends. For high customer satisfaction, a quick and efficient customer services team provides you with a better trading experience as you have to spend less time worrying about issues waiting to be resolved.
How to Get Started With Online Trading in the UK
This part of our guide shows you a detailed step-by-step process on how to get started with a UK online trading platform. Although the outlined process is generalised, it should apply to any trading platform you plan to use. This includes opening a new investment account, making your first deposit, and making your first trade.
Before starting the registration process, it is good to have all the necessary documentation and information. Most trading platforms require the following:
- • Email address
- • Phone number
- • National Insurance Number
- • Bank account details
- • Valid ID, driver’s licence or passport
- • A recent utility bill or bank account statement (physical or digital)
Step 1: Register a Trading Account
You can begin the process of opening an account after you have found the trading platform you want to use. When doing so, you’ll have to enter your username and email and choose a password. As part of the registration process, you will be asked to accept the terms and conditions, plus the privacy policy. You need to accept those to register a trading account.
Step 2: Confirm Your Identity
The next step is to confirm the details you provided in the first step; this mainly relates to verifying your identity to meet anti-money laundering (AML) regulations in the UK.
The trading platform will ask you to upload a copy of your:
- • Valid ID, driving licence or passport
- • Utility bill or bank account statement not older than three months
In some cases, this step is only necessary when making your first deposit. If so, you will be asked to upload this information when making a deposit.
Step 3: Deposit Funds
After you create your account, you will have the option to start trading with real money. If you are a beginner and unsure of how to trade (despite reading our trading guide), you can get some practice using demo accounts. With a demo account, you can trade with “fake money.” This will allow you to get comfortable with the trading platform and its feature before you start trading with real money.
When you are ready to trade with real money, you can deposit using various payment methods. The payment methods available and deposit fees will vary depending on which trading platform UK you use. Typically, you will find that the following methods are available:
- • Visa
- • MasterCard
- • Maestro
- • Bank Transfers
- • Skrill
- • Neteller
- • PayPal
Typically, financial transactions when depositing with a debit card or credit card or e-wallet are instant. Some methods, such as a traditional wire transfer, may take longer to process. The transaction time for each method is mentioned in the trading platform’s deposit flow.
Step 4: Find a Trading Market
You can start trading online as soon as your money arrives in the trading account.
The next step is to find a trading market. Navigate to the section of the trading platform named “Trading”, “Markets,” “Trade Markets,” or similar. You can see what financial assets are available on the trading platform from that section. It could be stocks, currencies, commodities, ETFs, cryptocurrencies, or indices. Choose what you want to trade.
Step 5: Make Your First Trade and Place Your Order
After clicking on the type of financial asset you want to purchase, an order box will appear. Since stocks are the most popular asset to trade in the UK, we will use share dealing in this example.
- • Set the Rate (the price of the stock) that you want to buy at
- • Set the Amount of how many stocks you want to buy
- • Set Stop Loss (optional)
- • Set Stop Limit (optional)
- • Set Leverage (optional)
- • When to take profit (if the profit of your trade reaches a certain value, it will be automatically sold (optional)
- • After that, complete the trade by clicking “Set Order,” “Open Trade,” “Confirm Trade,” or similar.
What Type of Financial Assets Can I Trade at Online Brokers?
Earlier on this page, we outlined what a financial instrument is, basically assets that can be traded, or it can also be packages of capital that can be traded. As a trader, you have various asset classes and underlying financial instruments. Below, we will give a high-level overview of the different types of financial assets you can trade online.
Trading Stocks in the UK
Stocks are shares in a company that can be traded in the short term or held for the long term. As with any financial instrument, the prices of stocks rise and fall with time.
Forex Trading in the UK
Forex trading is the activity of trading the currency exchange market. Thanks to the enormous liquidity, the activity of forex trading is popular among day traders. Another reason forex trading is popular among day traders is the high availability; you can trade six days out of a week, 24 hours a day.
Trading ETFs in the UK
ETFs (Exchange Traded Funds) are essentially a merger between stocks and mutual funds. When you buy an ETF, you buy a bundle of assets, which are bought on the same basis as you would buy or sell a common stock on a trading platform UK. Just like stocks, the prices of ETFs change all the time, and they can be traded actively throughout market hours. An alternative to ETFs could be to go with one or several investment trusts. Investment trusts are stocks from publicly listed companies that invest in different companies and sectors.
Investing in Funds in the UK
When you invest in funds, your investment and the investments of many other people are pooled together. In turn, financial institutions have fund managers that buy, sell, and hold investments within that fund.
Investing in Bonds in the UK
A bond represents a loan from the buyer (you) to the bond issuer, typically a government company. Bonds pay the investor a fixed rate of return; the issuer uses the money they loaned to fund its operations.
Investing in Commodities in the UK
Traditional examples of commodities include gold, oil, natural gas, grains, and beef. While there are many commodities available to trade, they are all typically sorted into three major categories:
- • Metal
- • Energy
- • Agriculture
You can invest in commodities in the UK in different ways, either by purchasing physical goods, by buying shares in commodity companies such as an energy company, or by buying ETFs or funds.
Investing in Indices (Index Funds) in the UK
Indices are arguably the easiest way to invest. An index is a group of assets that measures the performance of a specific market, for example, the FTSE All-Share Index. Many indexes are available to invest in, tracking a specific asset class or sector.
Investing in Cryptocurrencies in the UK
Regardless of the use case of the cryptocurrency, it can be traded on exchanges. The easiest way to buy cryptocurrency is by using a trading platform UK that allows you to trade and hold the cryptocurrencies you want to invest in.
Overview of Assets and Where You Can Trade them
| Online Trading Platform – Assets Overview | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Trading platform | Stocks | Forex | ETFs | CFDs | Cryptocurrencies | Indices | Commodities | Bonds | Futures | Options |
| eToro | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No | No |
| Skilling | Yes | Yes | Yes | Yes | No | Yes | Yes | No | No | No |
| Vantage | Yes | Yes | Yes | Yes | No | Yes | Yes | No | No | No |
| Plus500 | Yes | Yes | Yes | Yes | No | Yes | Yes | No | No | Yes |
| AvaTrade | Yes | Yes | Yes | Yes | No | Yes | Yes | Yes | No | No |
| Capital.com | Yes | Yes | Yes | Yes | No | Yes | Yes | No | No | No |
| Pepperstone | Yes | Yes | Yes | Yes | No | Yes | Yes | No | No | No |
| Saxo | Yes | Yes | Yes | Yes | No | Yes | Yes | Yes | Yes | No |
| DeGiro | Yes | No | Yes | No | No | Yes | Yes | Yes | Yes | Yes |
| Forex.com | Yes | Yes | Yes | Yes | No | Yes | Yes | Yes | No | No |
What to Consider Before Trading in the United Kingdom
To get started in the right way and trade in a sustainable way, you need to understand that it is more than just buying and selling to make some money. Successful trading requires market research and time. Anyone can get lucky in the short term but to have a consistent and positive track record, you need to do the work. Below we have listed a couple of pointers on what you should consider before trading in the UK.
Determine Your Trading Style
As we mentioned throughout this page about the best UK trading platforms, there are tens of thousands of assets to trade online. To successfully trade any of these, you need to know what you are trading. It is a good idea to start somewhere, whether it is common stocks, forex trading or ETFs. You can determine your trading style by looking at what you are most interested in. You can, for example, trade in tech stocks if you are interested in technology and keen on learning more about the financial markets and trading aspects of that industry.
How Involved Do You Want to Be
This tie into your trading style but pivots more towards trading strategy. Ideally, you have a good idea of how much time you are willing to spend trading online. Share dealing, forex trading, ETFs, and cryptocurrencies are better suited for active investors wanting to trade frequently. Forex trading with both volumes and liquidity is a good choice if you want to be in day trading.
Different Trading Accounts
Depending on your end goal and planned activity, there are different types of accounts to use. You can always change your setup later. But it is worth considering how and what you want to trade and then choosing a trading account based on that.
- • SIPP Account – Self-invested Personal Pension: If you are saving for retirement, a SIPP account is a good option. This type of account gives you more control over your retirement savings by consolidating your pensions and investments into one account.
- • ISA – Individual Savings Account: Using ISA is beneficial as it’s tailored to maximise potential returns by shielding it from income tax, tax on dividends and capital gains tax.
- • Junior ISA: Junior ISA allow parents or guardians to invest funds for their children under the ISA framework.
- • PSA – Personal Savings Account: A PSA allows you to earn interest on savings income, tax-free. It used to be that this scheme was only applicable to ISA, but it can now be done through a PSA. With the addition of the early Dividend Allowance (up to £2,000 in dividend payments free of tax) and a PSA, many investors are better off skipping the ISA. For professional investors with substantial savings and holdings, ISA is preferable.
- • GIA – General Investment Account: Both ISA and PSA have caps on their benefits. Meanwhile, GIA (General Investment Account) does not have a cap, making this type of account ideal for investors that used up their ISA or PSA allowance and have more investment capital.
- • Demo Account: Most trading platforms UK offer demo accounts to their users, allowing them to buy and sell assets using fictitious capital. Great for learning.
Practice Makes Perfect
Before investing any larger sums, it is good to invest smaller amounts and get familiar with all the ins and outs of trading assets online. Most platforms allow you to buy, sell, and trade for free using fake money to get familiar with the trading platforms. A demo account is a good start if you are new to investing online.
Ten Rules of Online Trading in the UK
Before your start trading, we suggest you read up on these ten rules of online trading in the UK. Meant to serve as guidelines for all types of investors.
- • Treat It Like a Real Job: Trading involves upfront expenses, losses, taxes, and uncertainty – you should structure your trading in a way that allows you to manage all these aspects.
- • Risk Only What You Can Afford to Lose: Only use expendable money. The money in your trading account UK should not be allocated for college tuition or your mortgage. Only risk what you can afford to lose – always trade responsibly.
- • Capital Management: Gathering funds to launch a trading career takes time. Once you start, you need to know that there can be bad streaks of many negative trades. Even the greatest trader has losing streaks. Protecting your investment capital means sticking to the plan and never taking a significant risk to offset losses. One way of protecting your investments is to have a diversified portfolio, spreading out the risk.
- • Always Use a Stop Loss or Stop Limit Order: A stop loss is a predetermined amount of risk you are willing to take in a trade. The stop loss can be expressed as a raw GBP amount or percentage. If you set it, you limit your own exposure during the trade. Knowing the maximum amount you could lose eliminates uncertainty and improves your capital management. A stop limit order combines stop loss with a limit order.
- • Know When to Stop: It’s difficult not to get emotional when the trading gets tough. If you have an unsuccessful trading plan or poor capital management, you may find that you’re losing money rapidly. If you think this is occurring, then stop trading and revise your strategy before restarting.
- • Leverage Technology: Use trading software to your advantage, get market updates through your mobile devices, monitor trades on the go, and invest in stable high-speed internet.
- • Become a Lifelong Student: The more knowledge you have, the better. The stock markets are an organism that constantly changes, with millions of moving parts. Becoming a lifelong student of the stock markets will improve your chances.
- • Empirical Approach: Facts and experience should guide all your decisions, not hope and luck.
- • Use a Trading Plan: If you are actively trading, devise a trading plan and set financial goals, backtest it and reiterate until you have found a strategy that yields good results.
- • Look at the Bigger Picture: Stick to your trading plan and focus on the big picture. Losing trades is part of it, just like winning trades are just small steps on a long journey to financial freedom.
Why Invest Money in the Stock Market and Other Assets?
“Money never sleeps” is a common saying. It is true if you consider that money is capital. Capital is wealth in the form of money owned by a person that seeks to invest their money. If you have money available that you know you do not need to use anytime soon, it’s a good idea to put that money to work.
Investing in the stock market and other assets offers retail investors the opportunity to earn more. Share trading, for example, offers a savvy investor the greatest potential for capital appreciation over the long term. The stock market and many other assets also invite an active investor to trade regularly based on market price movements. It is easy to get started by following our step-by-step instructions on how to get started with online trading in the UK.
Well-researched investment decisions can allow your capital to outpace inflation rates and allow you the chance to build wealth. Reasons why you should start investing online:
- • Earning additional income
- • Improving your retirement conditions
- • Improve your quality of life
Mobile Trading Platforms and Best Trading Apps
Regardless of personal preferences, getting acquainted with a broker’s mobile web-based trading platform or trading application should be on your to-do list. The time may come when you need to trade quickly without access to your desktop. Most trading platforms in the UK either have browser-based or a native mobile app for iOS or Android phones, downloadable for free from Apple App Store (iOS) and Google Play Store (Android).
Advantages of Using Mobile Trading Apps
The advantages of availability go without saying, but that applies to any type of mobile-based trading. Here we want to focus on the advantages of using mobile trading apps, that is, native mobile apps that can be downloaded from Apple App Store and Google Play Store.
Ease of Use
Registering, depositing, and trading are all laid out in accessible and effortless ways. Therefore, the ease of use when trading from a mobile app is great.
Live Portfolio Updates
With a mobile trading app, you can always access your investment portfolio. Since a native application can utilise the full features of a smartphone or tablet, you get notifications in the form of live portfolio updates. This includes notifications for stop loss limit order is hit or you reached a certain threshold for when you would like to sell a stock.
Live Market Updates and Trading News
You can subscribe to receive notifications about market updates and related trading news through a trading app. Maybe the company of a stock you have invested in signals a profit warning. In that case, you would likely learn about it as soon as possible to act upon the news. Other instances include press conferences, the release of quarterly reports, and global markets headlines.
Become a Better Investor Using Resources and Research Tools for Trading
Every tech-savvy trader should use advanced trading tools and resources available online. In a sense, a modern investor that uses their device for trading online is already using trading tools that are natively available in UK trading platforms. But why should you stop there? Trading tools are readily available online, some can even be accessed for free. From pricing chart analysis, technical analysis tools, trading data, technical indicators, stock screeners, charting tools, market analysis, and research websites. There is a ton of information online, and you will likely be a more successful trader if you utilise educational tools for trading beyond what the trading platforms offer.
The necessity for tools and services will vary depending on your investment strategy. For example, the need for investment tools is limited if you are a long-term investor buying indices, slow-growth stocks, and bonds. Such an investment persona is better off using stock screeners, general research websites, and trading forums. On the other hand, an active trader, especially a day trader, has a much greater need for trading tools. Examples of useful trading tools:
- • Trading data
- • Chart analysis
- • Trading simulator
- • Backtesting software
- • Research websites
- • Knowledge forums
- • Trading journal
Taxes When Trading in the UK
If you make a profit when trading and investing in the UK, you may have to pay Capital Gains Tax. This tax applies to share dealing or any other asset class. The exception to this rule is if you are under your tax-free allowance (or standard Personal Allowance). The allowance varies from year to year. The amount is currently set to £12,570. This means you do not have to pay taxes on the first £12,570 you earn, for example, from trading or selling stocks. If your overall gains are below the tax-free allowance, you do not have to pay Capital Gains Tax.
Furthermore, if holdings in your investment portfolio yield dividends, it is good to know that the first £2,000 is tax-free.
How We Rate the Best Trading Platforms in the UK
Our content is written by an editorial team that is well-versed in trading. Through our experience with trading, we have learned what to look for when evaluating the best trading platforms. We’ve learned through the years that all platforms tested have subtle differences, with details and features that make or break a platform. We try to objectively assess, and rate trading platforms based on several focus areas:
- • Fees and commission
- • Availability and diversity of asset classes and financial instruments
- • Features
- • Reputation and reliability
- • Customer service
FAQ on Trading Platforms in the UK
How Much Money Do I Need to Start Trading?
Our recommendation, at minimum, investing between £100 and £500. While depending on your personal finance, £500-£1,000 gives you more flexibility and runway.
Which UK Trading Platform Is Best for Beginners?
Thanks to the ease of onboarding new users and the number of educational resources, we consider Plus500 the best UK trading platform for beginners.
Is My Money Safe and Protected in an Online Trading Platform?
We recommend that you use FCA-regulated trading platforms (Financial Conduct Authority). These platforms keep your funds in segregated bank accounts where the company cannot use your money. These regulated bank accounts are protected by the Financial Services Compensation Scheme, which means your account balance is protected up to £85,000 per person. If the company went into liquidation or bankruptcy.
Which Platform Is Best for Day Trading in the UK?
AvaTrade is the best platform for day trading UK, thanks to low trading costs and great trading applications.
What Is the Best Social Trading Platform?
eToro is the world’s leading platform in the UK for social trading with millions of traders worldwide and a big range of social features including copy trading which allows you to copy successful traders.
What Trading Platform in the UK Has the Lowest Fees?
eToro is the best choice for trading with low fees.
Are UK Trading Platforms Safe?
Trading platforms in the UK use state-of-the-art technology on par with traditional banks. All transfers are encrypted, and data is stored in databases protected by the latest in firewall technology and security detection and prevention.
Do I Have to Pay Tax When Trading in the UK?
Your overall capital gains are taxable income in the UK. As mentioned throughout this page, several beneficial tax schemes and trading accounts allow you to avoid paying or limiting your taxes, depending on your situation and overall gains.
