20,0%
Top 3
10,0%
Top 5
7,0%
Top 10
5,0%
Top 20
1,0%
Top 40
0,5%
Top 100
0,2%
Top 100+
0,05%
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Barclays Review 2024
Minimum
deposit:
deposit:
- £1
Trading platform:
- Web platform
- Barclays Mobile App
Regulation:
- FCA
- FSCS
- FOS
Minimum
deposit:
deposit:
- £1
Trading platform:
- Web platform
- Barclays Mobile App
Leverage:
- 1:1
Trading features:
- Only UK securities available, no margin accounts provided
Summary of Barclays Trading Company
Barclays is a moderate-risk broker with the TU Overall Score of 5.23 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Barclays clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews. Barclays ranks 47 among 79 companies featured in the TU Ranking, which is based on the evaluation of 100+ criteria and a test on how to open an account.
The Barclays broker works only with UK investors who invest in local securities and use exclusively their funds for this.
Barclays is a British multinational bank founded in 1690. Since 1986 Barclays has been providing investment services. The broker is regulated by the Financial Conduct Authority (155595) and is a member of the FSCS Compensation Fund. The holding's banking services are used by more than 48 million clients from 50 countries, but investing through Barclays is available only to UK tax residents. The broker offers over 3,500 financial instruments, including stocks, investment funds, ETFs, and corporate and government bonds.
| 💰 Account currency: | GBP |
|---|---|
| 🚀 Minimum deposit: | From £1 |
| ⚖️ Leverage: | 1:1 |
| 💱 Spread: | Absent |
| 🔧 Instruments: | Shares, bonds, ETF, investment trusts |
| 💹 Margin Call / Stop Out: | No |
👍 Advantages of trading with Barclays:
- Control of financial activities by the Financial Conduct Authority (FCA) regulator.
- Availability of ground-breaking and user-friendly platforms (web and mobile) that allow you to manage accounts and make transactions.
- No requirements for the size of the minimum deposit on investment accounts.
- Access to research instruments and professional analytics.
- A simple pricing structure, transparent and modest fees.
👎 Disadvantages of Barclays:
- Limited choice of assets: only UK tax payers are eligible. There are no international securities or derivative financial instruments such as derivatives, futures, options, depositary receipts, etc.
- The company does not provide margin accounts and does not support leveraged trading. Clients can only trade with their hard-earned funds.
- Investment accounts can only be opened by UK residents over the age of 18. Broker services are not available to US residents, even if they reside in the UK.
Evaluation of the most influential parameters of Barclays
Geographic Distribution of Barclays Traders
Popularity in
94.49%
GB
0.86%
US
0.25%
FR
0.23%
ES
0.19%
DE
1.98%
Others
User Satisfaction i
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Expert Review of Barclays
Barclays is a broker that has been providing investment services to UK residents since 1986. The company has no priorities regarding the types of investors. It offers comfortable conditions for both professionals in the securities market and half-baked newbies. The main activity is portfolio investment.
Barclays Bank withholds fixed fees for transactions and also charges a monthly (on SIPP accounts and also a quarterly) subscription fee. The broker's trading fees are a far cry from the lowest: a transaction with an ETF will cost £3, with other assets (including stocks), the fees grow to £6.
Barclays does not offer commission-free trading like other stockbrokers, and this is its main drawback. The company does not provide individual advice, but its website contains podcasts, instructional videos, and research center articles that greatly facilitate investment decisions.
Latest Barclays News
09.02.2024
International digital bank Barclays has announced that it has entered into an agreement to acquire Tesco's retail banking business for €700
04.01.2024
Barclays International Digital Bank is pleased to announce that Naohiko Baba has joined Barclays Securities Japan Limited as Managing Director, Chief
24.11.2023
International digital bank Barclays is developing measures to reduce its costs by up to £1 billion, which could include cutting 2,000 jobs in the
20.11.2023
International digital bank Barclays said profits at its Japan unit could rise significantly amid a rebound in trading in Japan's debt market and
11.09.2023
International digital bank Barclays said it has confirmed Christian Oberle as Head of Financial Sponsors Group in the Americas as it looks to expand its
03.07.2023
International digital bank Barclays has announced the appointment of Akihiko Yamada as Managing Director and Head of Technology, Media and Telecom (TMT) at
26.05.2023
Digital bank Barclays has invested £3 million in its Trade Ledger working capital management platform.The new Trade Ledger platform will be used to
24.05.2023
Barclays has announced the appointments of Scott McDavid as Global Head of Equities and Ronnie Wexler as Global Head of Equities Distribution.Scott McDavid
17.04.2023
Barclays Bank has joined UBS, Credit Suisse and Goldman Sachs in announcing that it will be cutting jobs.Barclays is expected to lay off 100 employees in
Dynamics of Barclays’s popularity among
Traders Union’s traders, according to 2023 data
Investment Programs, Available Markets, and Products of the Broker
Barclays provides access to thousands of investment assets, including stocks, bonds, and funds (ETFs and other investment funds), listed in the UK. At the moment, investing in securities on international markets is not available to the broker's clients.
Three ways to invest in Barclays
Experienced investors can create their investment portfolios with Smart Investor. Newcomers to securities trading and investors with minimal skills are assisted in building portfolios and a recommended list of Barclays’ funds. It includes more than 40 Investment Trusts and ETFs, which the company's experts consider to be promising under long-term strategies. The broker offers the following types of investment:
-
Smart Investor. An option for experienced and professional investors who can build their portfolio using the instruments and concepts of the Barclays Research Center. The investor chooses a tax-efficient account (Investment Account, ISA, or SIPP) and personally manages the portfolio. There are no requirements of a minimum investment amount, but it must exceed the commission for the purchase of securities.
-
Plan & Invest. An individual investment plan for clients who prefer long-term investments with the help of professionals. The digital service operates through Barclays Online Banking and the app, so you need to be a Barclays checking account holder to use it. Such investments have a minimum investment period of five years, with an initial investment of £5,000.
-
Ready-made Investments. Balanced investment portfolios consisting of funds with different levels of risk. The company offers investors five types of ready-made portfolios: Defensive, Cautious, Balanced, Growth, and Adventurous. The funds are managed by a team of investment experts from Barclays. Day-to-day investment decisions are made by Blackrock managers, leaders in passive portfolio management. There is no minimum deposit, but for a ready investment, the minimum purchase is £50.
Both experienced traders and newcomers to the stock exchange can invest in UK securities through Barclays. To do this, you need to open one of three investment accounts with a broker and choose a trading strategy.
Important!
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Barclays’ affiliate program
At the moment, the broker has no affiliate programs.
Trading Conditions for Barclays Users
You do not need to deposit to open an account with Barclays. Investors who have formed their portfolio of assets can start with any amount that can cover the commission for the transaction. A web platform and mobile applications are provided for trading. An interest rate is charged on free funds in investment accounts. The company does not offer margin trading with leverage. The currency used in investment accounts is GBP only.
£1
Minimum
deposit
1:1
Leverage
8/5
Support
| 💻 Trading platform: | Web platform, Barclays Mobile App (Android, iOS) |
|---|---|
| 📊 Accounts: |
|
| 💰 Account currency: | GBP |
| 💵 Replenishment / Withdrawal: | Debit cards, wire transfer, online banking, transfer of assets from ISA or GIA Accounts of another broker, Check-in mobile app, Apple Pay, Android Pay, Pingit, via Barclays Bank Cashier (cash or check) |
| 🚀 Minimum deposit: | From £1 |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | No data |
| 💱 Spread: | Absent |
| 🔧 Instruments: | Shares, bonds, ETF, investment trusts |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | Barclays Bank UK |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | No |
| 📋 Orders execution: | No |
| ⭐ Trading features: | Only UK securities available, no margin accounts provided |
| 🎁 Contests and bonuses: | Yes |
Barclays Commissions & Fees
Information
For each purchase or sale of an asset, the client pays a fixed fee: for online transactions with funds, it’s £3; for other assets, it’s £6; and for a phone transaction, it’s £25. If the client makes more than 4 trades per year, the fee is reduced to £1 per trade. Barclays charges a monthly subscription fee on investment accounts: for funds, it’s 0.2%; and for other instruments, it’s 0.1% (but not less than £4 and not more than £125 per month). At the end of each trading day, the value of the investments placed by the client is calculated, and then once a month (on the day the account was opened) a fee is charged. On SIPP accounts, in addition to monthly subscription fees and transaction fees, there is an administration fee of £31.25 + VAT every quarter. In addition, some ETFs and investment trusts include fees charged by fund managers to cover the costs of buying and selling the underlying investment. However, most funds do not have a down payment and the broker does not charge a withdrawal fee.
| Account type | Spread (minimum value) | Withdrawal commission |
| Investment Account | From £3 | No |
| ISA | From £3 | No |
| SIPP | From £3 | No |
Stamp duty for the acquisition of shares in the UK is 0.5%, and in Ireland, it’s 1%. The Panel of Takeovers and Mergers (PTM) also charges £1 on all UK stock trades over £10,000.
The experts at Traders Union compared the fees for trading in shares of Barclays Bank and stockbrokers Ally and Charles Schwab. The results of the study are presented in the table below. It should be borne in mind that Barclays makes it possible to trade only securities listed on the UK stock exchanges. Access to international shares (including the United States) is closed to its clients.
| Broker | Average commission | Level |
| Barclays | $3 | Low |
| Charles Schwab | $11 | High |
| Ally Bank | $4 | Medium |
Detailed Review of Barclays
Barclays is not only a world-famous bank but also a broker that offers clients to invest in securities listed on the UK stock exchanges. The company allows you to invest in stocks, bonds, exchange-traded funds, and investment trusts. At the same time, the client can form a portfolio on his own or entrust this mission to Barclays experts, which allows not only experienced but also novice investors to carry out exchange trading.
Barclays Q1 2021 financials by the numbers:
-
Total revenue - £5.9 billion.
-
Profit before tax - £2.4 billion.
-
The cost/income ratio is 61%.
-
The return on equity ratio (RoTE) is 14.7%.
Barclays is a long-term investment broker
Barclays offers clients the best pricing for LSE-listed securities from select RSPs and marketplaces. Investors can invest in over 2,500 funds and 1,000 stocks, as well as UK corporate and government bonds. The broker publishes trading ideas, fundamental data on stocks and ETFs, and blockbuster trading news. However, the range of charting tools is limited, which suggests that Barclays is focused on long-term strategies rather than active trading.
The broker's clients can invest and manage accounts through its web platform and Barclays’ mobile apps. A desktop terminal is not provided. The mobile application is protected from unauthorized access with an 8-digit PINsentry security code and 128-bit data encryption. It also provides an automatic logout if the user is inactive for 10 minutes.
Useful services:
-
Investing insights — in-depth market analysis with comments from financial experts.
-
Investment strategies — analyses of up-to-date investment strategies, which are carried out by independent and internal analysts of the company.
-
Word on the Street is a podcast where leading investment experts discuss the latest financial news and events.
-
Market analysis — articles about various markets and key asset classes.
-
Smart Investor with Clare Francis — videos in which Barclays’ Savings and Investment Director discusses investments in simple terms.
-
Active Trader is a paid research platform from partner Web Financial Group (WFG) that delivers real-time pricing, streaming charts, and Level 2 data.
Advantages:
1
You can open an account online, and filling out the registration form takes no more than 10 minutes.
2
The monthly subscription fee is charged only after the customer has made a deposit.
3
Compensation is available for commissions (up to £500) charged by another broker for transferring assets to Barclays.
4
Prompt assistance with any questions — by phone or via online chat.
A single Barclays app gives you access to all your open accounts — investment and banking.
How to Start Making Profits — Guide for Traders
Barclays offers clients current bank, savings, and investment accounts. The latter is only available to UK tax residents.
Account types:
Account Type
Description
General Investment Account (GIA)
is a flexible account that allows you to work with ready-made or customized portfolios. There is no minimum initial deposit required to open an investment account. However, its balance must be replenished within 14 days from the date
of opening the account. Self-investing can start with any amount, but it must exceed the trading commission for the transaction. It is necessary to invest in ready-made portfolios from £50, in individual plans — from £5,000. There
are no restrictions on the amount that can be invested. The income received is taxable.
Investment ISA
is an investment account with tax benefits. Its owner can invest up to £20,000 per year in funds, stocks, and bonds, tax-free.
SIPP Account
an account for retirement savings with the ability to invest in a wide range of assets. Investment income under the SIPP is protected from income tax, dividend taxes, and capital gains taxes. Access to retirement savings opens after
reaching the age of 55.
Bonds Accounts
are accounts with fixed and flexible interest rates. The minimum deposit for a 2-Year Flexible Bond, Premier 2-Year Flexible Bond, and Wealth 2-Year Flexible Bond is £1, for 1-Year Fixed-rate Bond, it’s £500. The rate without deducting
taxes varies from 0.15% to 0.30%.
Cash ISAs
are individual savings accounts that allow you to save money with minimal taxes. ISA type Instant Offer withdrawals at any time are subject to rates from 0.02% to 0.05% per year, depending on the number of funds deposited. Flexible
ISAs carry a flat annual rate of 0.20% or 0.25% and three free withdrawals (each up to 10% of the balance). The minimum deposit on all types of Cash ISAs is £1.
Savings Accounts
savings accounts are for adults and children and Everyday Saver accounts can be opened at age 16; Blue Rewards Saver accounts can be opened at age 18. Barclays Children’s Savings are intended for savings for a child under 18 years
old, while Children’s Regular Saver accounts are for children up to 16 years old. The interest rates range from 0.01% to 3.50%. Its size depends on the type of account and the amount of funds deposited, as well as on whether the
money was prematurely withdrawn from the accounts.
Barclays does not have a demo account, but there is no monthly subscription fee until the account is funded. That is, an investor can open an account, study the platform, and then close it (free of charge) if the trading conditions do not suit him.
Bank accounts in Barclays can be opened by residents of any country, but investments can only be by UK citizens who have an account with a local bank.
Bonuses Paid by the Broker
Investment Saver
When opening a GIA, a client can connect a function that allows him to receive interest on his uninvested funds. From June 2, 2020, the broker charges 0.01% per annum. Bonus money is paid monthly. They cannot be withdrawn, but they can be transferred to a trading account and further used for investment. The bonus is not available for ISA and SIPP accounts.
Compensation of fees for transferring assets from another broker
Barclays will reimburse the customer up to £500 within 30 days of the request. Funds are returned to the bank account specified at the time of application, linked to the GIA and ISA accounts. SIPP Asset Transfer Compensation is not awarded.
Investment Education Online
Information
There is a lot of educational information on the Barclays Bank website. Investment resources are available at Investment resources. When you go to the Learn section, a securities section opens, which is designed for beginners with minimal investment experience.
Information presented in the Learn section
Information not available on the Barclays website:
What is ISA and SIPP
Glossary of stock market terms in alphabetical order
In-depth description of various investment assets: funds, ETFs, trusts, stocks, and bonds
What is margin trading
What a beginner needs to know before investing
First Steps: A Beginner's Guide, Debriefing Investment Strategies, Planning Goals, Tax Rates
How to mitigate financial risks
What actions need to be done to start investing profitably
Also in the training section, you can find investment ideas, learn about ready-made asset portfolios, and view lists of available funds.
Security (Protection for Investors)
Information
Investment services and products are provided by Barclays Investment Solutions Limited, a member of the London Stock Exchange and the NEX, which is regulated by the Financial Conduct Authority (FCA). The company is registered under number 2752982. Barclays Bank UK Plc, which provides banking services, is controlled by the Prudential Regulation Authority (No. 759676 in the register of financial services).
Barclays also participates in the Financial Services Compensation Scheme (FSCS), which guarantees its customers compensation in the event the company stops its activities. The maximum payout is £85,000 per investor. In the event of Barclays' violation of its obligations, each client can file a written complaint with the Financial Ombudsman Service (FOS), an independent body established by the UK government to resolve disputes between financial companies and their clients.
👍 Advantages
- The broker and bank are supervised by the UK's most reputable regulators
- In the event of bankruptcy of a company, its clients can receive compensation for funds from FSCS
- Every investor can file a claim with FCA or FOS
👎 Disadvantages
- The client's investment account must be linked to his bank account with a UK financial institution
- To pass verification, you must provide tax documents
- All payments are made only through a linked UK bank account
Withdrawal Options and Fees
-
To withdraw money, you must first transfer funds from your investment account to your linked UK bank account using online banking. The limit on the amount of one transfer is £250,000. There are no restrictions on the number of transfers.
-
The customer can then transfer funds to a debit card or receive cash from their bank's cash desk or ATM.
-
If the customer is outside the UK at the time of withdrawal, they can transfer funds by international bank transfer. SEPA payments are made only in euros, and SWIFT payments are made only in the currency chosen by the client.
Customer Support Service
Information
To contact the company directly, customers can use the chat in the application or on the website or call the numbers indicated in the Contact us section. Chat operators are available 24/7. Telephone support is available Monday through Thursday from 7:30 am to 7:00 pm, and Friday from 7:30 am to 6:00 pm (GMT + 1).
👍 Advantages
- In the application and the chat on the site, you can contact support 5 days during office hours
- Phone numbers listed are for calls within the UK and abroad
- Several ways to communicate
- Broker representatives answer questions in popular messengers
- There is a separate communication channel for people with disabilities
👎 Disadvantages
- Inability to call on weekends and holidays
This broker provides the following communication channels for existing clients and potential investors:
-
phone numbers, as indicated on the website;
-
fax;
-
email;
-
chat in the application;
-
Apple Business Chat;
-
SignVideo (a service for deaf or hearing challenged people who communicate in British Sign Language);
-
Facebook Messenger;
-
Twitter - @BarclaysUK or @BarclaysBizChat;
-
LinkedIn profile;
-
Barclays also has a YouTube channel.
Contacts
| Foundation date | 2060 |
| Registration address | 1 Churchill Place, London E14 5HP |
| Regulation |
FCA, FSCS, FOS |
| Official site | https://www.barclays.co.uk/ |
| Contacts |
Phone:
0800 279 3667
|
Review of the Personal Cabinet of Barclays Bank
The procedure for opening an account with a broker differs depending on whether the potential investor is a client of Barclays Bank. If you already have a checking account with this bank, you can open an investment account through the Barclays Mobile Banking app. If there is no bank account, then you need to register on the broker's website. Below is a brief instruction on how to open an account on the website:
1
On the main page, click Save and Invest and in the drop-down list select the type of investment account you want to open.
2
Then click the button as shown in the screenshot below:
3
Fill out the registration form with your personal details. Also at this stage, you need to confirm that you are a UK tax resident. After that, the broker will request a bank account number, which will be linked to the Investment Account for its further replenishment:
4
Features of the personal account:
Payment transactions for all types of accounts, including cash, savings, and investment:
Asset search:
Payment transactions for all types of accounts, including cash, savings, and investment:
Asset search:
Also, the following actions can be performed in a Barclays personal account:
-
Transfer the interest that was accrued to your non-invested funds to your investment account.
-
View and track a portfolio of assets.
-
Manage investments.
-
Perform daily banking transactions such as view and manage accounts, transfer money, set up a direct debit, etc.
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FAQs
Do reviews by traders influence the Barclays rating?
Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about Barclays you need to go to the broker's profile.
How to leave a review about Barclays on the Traders Union website?
To leave a review about Barclays, register on the Traders Union website or you can also leave a review through Facebook.
Is it possible to leave a comment about Barclays on a non-Traders Union client?
Anyone can leave feedback about Barclays on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.
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