One of the best ways to get into trading is to sign up for a dedicated platform that facilitates a range of investments. Fortunately for anyone who’s hoping to find the top providers, there are plenty of great options available.
If you’re in the United Kingdom and are looking for the best way to trade online, we think we can help you make a worthwhile, well-informed decision. From outlining some of the best platforms that are available to UK residents, to tips for choosing the right one for your needs; we’ve compiled everything you need to know right here.
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Top 9 Trading Platforms in the UK
It’s no secret that the trading sector has grown in popularity over the last few years; especially with the rise in Forex and the inception of cryptocurrencies. However, getting involved and being successful in your endeavours won’t always be as straightforward as some individuals may make out.
While there are platforms, bots and a whole host of software out there to help make your trading experience both easier and more profitable, signing up to the right ones could make or break your efforts. With this in mind, we’ve got a list of some of the best trading platforms the United Kingdom has to offer, perfect for anyone who wants to get started with trading in 2022.
CFDs are complex instruments and carry a high risk of losing money quickly through leverage. 72.6% of retail investor accounts lose money when trading CFDs from this provider.
Fees per trade
Many investors will agree that eToro is the best trading platform available for those who want to get into forex trading – and with options to invest in other assets too, it offers enough potential for pretty much anybody hoping to make their money work for them.
Launched back in 2007, eToro has had many years to establish itself in the trading industry – and with the contributions and innovations it has made since then, it shouldn’t come as a surprise that it has risen to the top of the market.
On this site, you’ll find that there are more than 2,400 stocks (both from the UK and international markets), 16 supported cryptocurrencies to invest and trade in, thousands of CFDs and much more. With all these options, there’s no doubt that you’ll be able to pick the perfect investment opportunities for your unique needs – and reap the rewards that come with doing so.
There are quite a few things that have helped eToro to maintain its popularity over the years; providing generally low commission fees, an incredibly user-friendly interface and more. All of this, combined with great features and reputability, makes eToro a fantastic choice.
While a relatively new platform on the market, Capital.com has certainly made a name for itself and has easily become one of the top choices for traders in the United Kingdom. Much like eToro, you’ll have plenty of stock trading opportunities available to you, as well as many other ways to make investments. Whether you’re keen on ETF or other forms of trading, it’s worth looking into what Capital.com has to offer.
When you consider that it plays host to 2,400 shares, as well as spread betting, Forex and more, it’s plain to see that it really is a great site for pretty much all your trading needs.
The fees aren’t generally too bad either, which is another advantage that you might want to consider if you want your trading sessions to be as profitable as possible. It may be wise to do some research however, as the amount they charge varies depending on your activities and chosen assets.
The great news is that Capital.com is licensed by the Financial Conduct Authority (FCA), which helps to add another level of security to your trading experience.
Those who are drawn to the idea of CFD trading may be better off checking out a platform like Saxo Markets. Aside from being regulated by the FCA, they also offer their users access to 40,000 trading instruments – and then some. Despite offering ETFs, forex and other trading options, this is often considered to be one of the best options for anyone in the UK who wants to get started with CFDs.
Their platforms (SaxoTraderGO and SaxoTraderPRO) are both user-friendly and highly efficient, for a simple yet fantastic experience every time.
While another fairly new name to the industry, DEGIRO is a European online trading platform that we’re certain you’ll be interested in right now. With its incredibly low trading fees, real-time data, user-friendliness and much more, it’s fast establishing itself as an all-around excellent stock trading website for an array of users.
Another factor that has helped DEGIRO to climb in popularity is its regulation by trusted authorities and mobile-friendly design. It’s still limited in some ways however (for example forex trading isn’t yet supported), it is certainly worth looking into.
Another great site to help you get into the stock market is IG – and whether you’re interested in mutual funds or investment trusts, you’ll find that there’s likely to be something for you on this site. IG was launched in 1974, but they still keep up with the market needs of today, providing individuals with a platform they can trust for a wide variety of trading needs.
Especially good for those who want to use long-term trading strategies where buying and holding is key; it’s certainly worth considering the longevity and expertise that IG brings to the table.
While not generally one of the best options for beginners, Interactive Brokers is often considered to be one of the top choices for more experienced stock traders. The site has access to a range of markets in over 30 different countries, giving you the chance to take advantage of opportunities outside of the UK.
Featuring a whole host of financial models and trading tools, as well as being catered towards those who are more established with trading, it’s certainly got an array of attractive features that could elevate your trading strategies moving forward.
If you’re looking for a platform that allows traders to invest in both UK-based and international markets, Fineco Bank could be a great fit for your needs. Traditional assets, ETFs and much more are available on this European site – and you can enjoy access to US, Asian, Canadian, European and many more markets with little fuss.
With an ability to diversify your portfolio across the world, as well as dedicated portfolio management tools to help you stay on top of everything, you’ll find that your trading endeavours are taken care of with Fineco Bank.
There are plenty of stockbrokers out there who choose to use Hargreaves Lansdown – and reputation is among the top reasons why. As one of the oldest UK brokers on the market, they have long established themselves as an industry leader.
There are plenty of services available from Hargreaves Lansdown; from share dealing accounts to the ability to trade in a variety of different assets. It may not be the best choice in terms of fees, but if you don’t mind setting aside a little extra for these costs, it could be a worthwhile choice indeed.
While best-known for being an excellent forex broker, CMC Markets is an excellent option for traders of all skill levels and niches, thanks to the fact that they have a wide range of different products for you to choose from.
Some of the key benefits of using this platform are the great educational resources, research amenities, broad range of ventures and user-friendly features. They also have an excellent customer service team on hand to ensure that you can navigate everything without any hiccups.
What makes a good online trading platform?
Whether you’re looking for a good CFD or forex broker, or even something that offers a broad range of financial vehicles for you to put your money into, it’s important that you dedicate at least a little time and effort to finding a great site.
Compare the fees that each trading platform offers
There’s generally a wide range of things that you can consider when trying to choose the perfect trading platform. One of the biggest for most investors is likely going to be the fees that are charged on the site. Most platforms will have at least some way of earning money for the services they provide, whether it’s via a monthly subscription or by taking a small percentage of the money you put in.
In general, it’s going to be crucial to think about the varying costs that can come with the platforms you’re considering using; especially if you want to make sure that you’ll be getting the highest possible returns.
Consider the investment opportunities
Next up, we’d encourage you to take a look into what types of assets each platform facilitates. Fortunately, you’ll generally find that checking supported resources won’t be too hard to do. Platforms will want to promote their services to ensure as many potential customers know what’s on offer as possible. Consider forex, ETFs, commodities, indices, cryptocurrencies and pretty much any type of financial opportunities you want to be able to take advantage of while using your chosen site.
Take a look at the different features and software available
The software that the website is built upon can often make a significant difference to your trading experience, which is why it’s generally wise to remember this when looking for the ideal site. The features that the platform provides should be kept in mind too – as these will also help to further improve your experience. eToro has the unique feature of copy trading, but most other sites will have a few bonuses of their own; from technical analysis, to educational resources.
Overall, the best thing you can do is take the time to look into the platforms that appeal to you and see exactly what it is they could do to enhance your trading capabilities (and potentially, success).
Make sure that they’re a reliable trading platform
Finally, we’d encourage you to make sure that the website you’re choosing is one that you can trust. There are far too many scams out there, and even some of the reliable providers don’t have the best security measures. This means that doing your research is absolutely essential if you don’t want to end up having your personal data or money copied, shared, or entirely stolen.
Typically speaking, doing a background check on the platform is a good way to see if you’ll be able to trust them or not. The more time and effort you put into it, the more information you’ll have available to make the right decisions.
Other aspects you may want to consider
Here are just a few smaller points that might help you when selecting a worthwhile trading platform:
Most platforms will have several different fees, such as inactivity fees, overnight financing costs, withdrawal commissions, etc. and it’s generally best to look into all of the ways that they’ll be taking money for their services (as well as looking around for user reviews to see what other individuals think of the prices)
While not available on every website, automated trading could be an excellent feature to have. It could help to increase your chances of making a profit, as well as make your life easier at the same time. While not the only thing to look out for, it’s definitely one that we think you should keep in mind before signing up
There are usually a variety of different ways that you deposit money into your trading account – but not all platforms will support every method. Most will have the basic facilities (such as Direct Debit and PayPal), but if you have a preference for something else, it may be worth looking around and seeing if any other sites provide you with your preferred option
Always make sure that the platform you’re choosing is licensed by a trustworthy regulatory body, such as the Financial Conduct Authority. There are other financial bodies in the United Kingdom, but you can generally rely on the FCA
After looking into all the tips we have for choosing the right platform, as well as the list of our top 9 providers, you may find that you’ve got quite the range of opportunities available to you. In general, while having so many great platforms at your fingertips can be fantastic in terms of variety, it won’t necessarily help when so many can provide you with fantastic features and services. With that in mind, which of these is hailed as the best?
Unfortunately, it’s difficult for us to give you one name over another, as your personal preferences will come into play when making the worthiest selection. After all, one trader may want to use a platform that caters to those with more experience, whereas another may want to prioritise automated software. Sometimes simplicity and ease of use can be mitigating factors, as can the fees charged.
In most cases, many different questions can be asked when choosing the ideal platform. The answers are usually unique to the individual however, so be sure to consider exactly what you need and your hopes for your trading endeavours, and use your preferences to guide you to the right one.
How do you get started with a trading platform?
If you’re still new to the world of online trading, you may not be entirely sure how to get set up. Fortunately, most websites will make it easy enough for you to get started – after all, they want to make sure that their services are accessible to as many customers as possible. With this in mind, here’s the 3 step process that most trading websites will follow:
Step 1: Create your account
There aren’t many platforms out there that won’t require personal information to begin trading. The good news is that signing up is usually incredibly easy to do and in most cases, it won’t take any longer than a few minutes to complete the necessary forms. With most platforms, all you’ll need to provide are your first and last names, your phone number and your email address. You will also need to choose a password, which should always be both secure and memorable.
Step 2: Verify that it’s really you
While the process may not be the same on all platforms, you’ll find that many reliable ones will want to confirm that you are who you say you are. This is why sites like eToro will ask you to upload a copy of your ID, like your driver’s licence or a valid passport, and a recent bill or bank statement.
This isn’t always necessary at first; in fact, many individuals wait until they’re going to make a significant deposit before completing this portion.
Step 3: Get some money into your account
With your identity verified (or, depending on the circumstances, without), you can now deposit funds into your account, allowing you to get started on your trading journey.
On any platforms that support a demo trading feature, it might be worth having a fiddle and getting to grips with everything before making a deposit. Either way, you should usually find that it’s no trouble to put money into your account – and since most platforms will offer a range of payment methods, from PayPal to bank transfer, you’ll usually be able to do this with ease and get started.
What do the best UK trading platforms have in common?
Low trading fees (some offer zero commission trading)
Stock price graphs and charts
Suitable for both beginners and experienced traders
User-friendly share dealing platform
The platform has both web and mobile versions
Diverse trading option: the platform allows to trade Forex, CFDs, and crypto
Easy access to exchange-traded funds and retail investor accounts
Final thoughts on the best trading platforms in the UK
If you’re hoping to make the most out of your investments in 2022, it’s well worth considering what the different platforms we’ve looked into could do for you. From Interactive Brokers, to eToro; there are plenty of great options, many of which are great trading tools in their own unique ways. With this in mind, we hope that the info we’ve given you will help you in making the right choice.
Not all trading platforms will be entirely safe to use. There are several scams out there and because of this, you always need to make sure that you take the time to do your research. The more you know, the better informed you will be on how to make the right selection. In general, going with any FCA-regulated sites is a good idea, but still do a background check regardless just to make sure.
What is the best cryptocurrency trading platform UK has?
There are plenty of platforms on the market that facilitate crypto trading. Some are exclusively crypto exchanges, while others (such as eToro) provide crypto alongside a range of assets, allowing you to pick and choose what you invest in. As mentioned earlier on, defining the best is often hard to do, but there’s no doubt that sites like Capital.com and IG are great choices, as just a few examples of trading platforms that support crypto.
Which UK trading platform is best for beginners?
For the most part, many of the ones we listed earlier can be a good choice for those who are just starting out. While the same can’t be said about all of them, we believe that DEGIRO and Saxo Markets can be excellent choices for those who are new to the industry. Of course, we’d still encourage you to do your own research to ensure that you’re going to pick out the ideal one for you, but these are a couple of suggestions that we think are worth checking out.
Is day trading legal?
Just like pretty much any other method you could implement, yes, day trading is completely legal in the United Kingdom. It’s simply buying and selling an asset – there isn’t usually much more to it that could pose an issue for you legally. Plus, with many of the platforms mentioned earlier being licensed by the FCA, a respected and trusted UK financial body, you can put your worries at ease and use whichever trading strategies work best for you.