7 Best Stock Trading Apps in the UK (2024)
Stock Trading Apps in the UK:
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Potential return - 7
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Reliability - 9
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Simplicity - 6
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Best Stock Broker in the UK - eToro
Gone are the days when you'd have to call a broker to make investments. Nowadays, trading apps make it extremely convenient and quick for you to venture into the stock market without any external interference.
More importantly, stock trading apps give you a sense of control since you can make investments whenever you want. With hundreds of trading markets and useful charting features, investments become straightforward.
In this guide, we introduce you to some of the best stock trading apps in the UK and provide guidance on what to look for in a trading app based on your preferences and needs. Finally, we discuss how to choose the best stock trading app in the UK.
Do you want to start trading Forex? Open an account on eToro!Top 7 Trading Apps in the UK
Here are our top picks for the best tradings app in the UK.
| App | Best For |
|---|---|
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Best For Copy Trading Stocks |
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Best for International Stock Trading |
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Best For Free Stock Trading |
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Best for Professionals |
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Best for CFD Trading |
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Best for Crypto Trading |
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Best for Active Traders |
Best Stock Trading Apps UK Comparison 2024
Here's a quick comparison of the best stock trading apps in the UK.
| Trading App | FCA Regu-lation | Minimum Deposit | Local Regu-lation | Copy-trading (yes/no) | Max Leverage | GBP Accounts (yes/no) | ||
|---|---|---|---|---|---|---|---|---|
|
eToro |
Yes |
$10 |
Yes |
Yes |
1:30 |
Yes |
||
|
IBKR Mobile |
Yes |
$0 |
Yes |
No |
1:50 |
Yes |
||
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DEGIRO - Online Stock Trading |
Yes |
$0 |
Yes |
No |
1:300 |
Yes |
||
|
Saxo TraderGO |
Yes |
$2,000 |
Yes |
Yes |
1:20 |
Yes |
||
|
IG Trading: Trade Forex CFDs |
Yes |
$0 for bank transfers |
Yes |
Yes |
1:30 |
Yes |
||
|
TradeStation: Trade & Invest |
Yes |
$500 |
Yes |
No |
1:50 |
Yes |
||
|
tastyworks |
No |
From $1 |
No |
No |
1:1 |
No |
eToro - Best for Copy Trading Stocks
68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Photo: eToro
eToro provides trading services in over 100 countries and has pioneered copy trading as an investment type. With a minimum deposit of $10, eToro is the best stock trading app in the UK for beginners who don't want to invest too much money upfront.
A notable feature of eToro is that it offers copy trading, allowing newbies and less experienced traders to copy the trades opened by experienced traders. The broker is regulated by the Financial Conduct Authority (FCA) under reference number 583263.
Moreover, eToro UK and eToro Europe operate in compliance with the Markets in Financial Instruments Directive (MiFID). While the CFD regulates eToro as a CFD broker, investors can trade currencies, commodities, stocks, ETFs, indices, and cryptocurrencies.
👍 Pros
•Allows copy trading for inexperienced investors
• Has a low minimum investment
• Regulated in the UK and EU
• Trading opportunities for a number of cryptocurrencies
👎 Cons
• Wide spreads for crypto trading
•High minimums required for copy trading
Interactive brokers - Best App for International Stock Trading
Photo: Interactive brokers
Interactive Brokers is one of the best apps to trade US stocks due to its low fees on international stock trading. Operational since 1977, the broker has offered a wide assortment of trade instruments, such as currency pairs, CFDs, metals, ETFs, futures, indices, stocks, and more.
Interactive Brokers is regulated by the UK Financial Regulatory Authority (FCA) and several other international regulatory bodies. For UK traders, the app allows GBP accounts among other currencies, such as USD and EUR.
Although Interactive Brokers presents itself as an investment platform, it's important to note that it does not have programs or features for novice investors, such as PAMM accounts.
However, if you're a pro, you're in luck since Interactive Brokers gives you access to thousands of mutual funds. Other features that set the app apart from other brokers are the high speed of transaction execution and excellent reliability.
👍 Pros
• Provides access to 135 financial markets in 33 countries
•Multiple trading instruments
•High speed of transaction execution
• Regulated by several international financial authorities
👎 Cons
• No PAMM accounts
• Complex registration process
Degiro - Best for Free Stock Trading
Photo: Degiro
Degiro offers commission-free trading for US stocks and allows investments in exchange-traded funds and curated security baskets. With low rates, a large selection of ETFs, and access to more than 50 global exchanges, Degiro is the best UK stock trading app for investors who want to save money on commission fees.
In the UK, Degiro is regulated by the Financial Conduct Authority (FCA) and supports nine base currencies, including GBP. You can trade anything from stocks, ETF, and funds to bonds, options, and futures.
Irrespective of the account you open - Custody, Basic, Active, Trader, and Day Trader, the trading fees are uniform across the platform, with some exceptions for the Custody account.
👍 Pros
•App has touch/face ID login
•Two-step safer login for mobile app
• Commission-free trading for the US shares
• Low trading fees
👎 Cons
• It doesn't have fundamental research features
Saxo Bank - Best for Professionals
Photo: Saxo Bank
Saxo Bank is a multi-asset investment platform that offers an exceptional trading experience for UK investors. With more than 40,000 securities selections and a rich assortment of tools, Saxo Bank is good for investors who intend to trade actively.
The available trade instruments on the Saxo Bank app include crypto, Forex, micro-futures, stocks, and indices. However, it may be a bit troublesome for beginners since there's a $2,000 minimum deposit, and it takes nearly three days to open a bank account.
Saxo Bank supports 26 base currencies, including GBP, making it convenient for UK traders. Moreover, it's regulated by UK's Financial Conduct Authority (FCA) and operates in the UK through its legal entity, Saxo Capital Markets UK.
👍 Pros
• Superb research tools
• Wide-ranging product portfolio
• Provides access to more than 40,000 instruments
• Has content for risk management
👎 Cons
• High minimum deposit
IG - Best for CFD Trading
Photo: IG
IG Markets is the best stock trading app for beginners UK since it has many educational resources and provides a Demo account for inexperienced traders to practice through. Created in 1974, IG Markets is registered in the UK and offers trading in multiple instruments, including commodity markets, cryptocurrencies, stocks, and currency pairs.
A notable feature of IG Markets is ProRealTime, which is a package of technical charting tools. Meanwhile, the Watchlist on the platform groups markets of interest for investors who want to monitor the prices of different instruments in a single window.
In the UK, IG Markets is regulated by the Financial Conduct Authority. Apart from that, its safety is backed by a reputation of four decades and independent external audits.
👍 Pros
• Access to over 16,000 trading instruments
• Has relatively decent spreads
•24/7 customer support
• Demo accounts for beginners
👎 Cons
• Complex verification procedure
• Technical problems in order execution at times
TradeStation Global - Best for Crypto Trading
Photo: TradeStation Global
Founded in 1987, TradeStation Global is one of the best places to trade cryptocurrencies, stocks, bonds, futures, mutual funds, IPOs, ETFs, and options.
What sets this broker apart from others is the option to invest in IPOs (initial public offerings). Traders can set up watchlists for the IPOs of their desired companies and invest without any commission fees on the platform. Besides its app, TradeStation also has proprietary desktop and web platforms. Meanwhile, its TSCrypto platform is exclusive for trading cryptocurrencies.
Traders in the UK can use the Demo account, called the Simulated Trading account on TradeStation, to practice trades. The platform also has custodian and joint accounts. Companies can use corporate accounts to invest in trade instruments.
The TradeStation analytics tool in the app has advanced charting features and provides an insight into market indicators. The Radar Screen is another tool that scans and sorts assets according to the investor's trading strategy. In the UK, the broker is regulated by the Financial Conduct Authority (FCA).
👍 Pros
• Licensed and regulated by multiple international regulatory authorities
• Wide range of instruments, including IPOs and cryptocurrencies
• No commission on US stock trading and ETFs
• Demo account for beginners
👎 Cons
• It does not allow currency pair trading
Tastyworks - Best for Active Traders
Photo: Tastyworks
Tastyworks is a dedicated brokerage company that lets clients trade on their own by using the vast library of learning resources. While this means that there's no copy trading on the platform, there's an opportunity for traders to learn through the educational material on the platform.
The broker is regulated by the Financial Industry Regulatory Authority and the Securities Investor Protection Corporation. Tastyworks clients can invest in a number of financial instruments, including futures, micro futures, small futures, ETFs, options, cryptocurrencies, and stocks.
Another benefit of the platform is the availability of multiple withdrawal methods, such as ACH, foreign transfers, dividend checks, and ACAT. Apart from individual accounts, traders can also open joint accounts if they want to trade with partners.
The curve analysis feature of Tastyworks allows investors to find the most profitable entry points for traders, while the Quick Roll lets you scroll quickly to control the option cycle and expiration dates.
👍 Pros
• Account customizable is available
• Decent research tools
• Low trading fees
👎 Cons
• No Demo account
Rules and Regulation
The UK boasts one of the world's largest stock markets, with a market capitalization of approximately $4.5 trillion,placing it firmly within the top 5 globally.
Major Stock Exchanges
- London Stock Exchange (LSE) is the primary and most significant stock exchange. It is one of the oldest stock exchanges globally, with a history dating back to the 17th century.
- Alternative Investment Market (AIM) is a sub-market of the LSE, catering to smaller, growing companies.
Trading hours are from 8:00 AM to 4:30 PM GMT, Monday to Friday.
Market Overview
- Financial Times Stock Exchange 100 Index (FTSE 100) is the benchmark index, representing the 100 largest companies listed on the LSE.
- The FTSE 100 is a market-capitalization-weighted index, meaning that larger companies have a greater influence on the index's performance. The top 10 companies account for approximately 40% of the index's total market capitalization.
- The average daily turnover is around $6.4 billion.
- A historical average dividend yield is around 4%, which is higher than many other developed markets.
- The LSE is home to some of the world's most iconic companies, such as HSBC, BP, GlaxoSmithKline, and Unilever.
Regulations
Financial Conduct Authority (FCA) is the primary regulator overseeing financial markets and listed companies.
What to Look for In a Stock Trading App
Stock trading apps make it very easy for you to invest in different financial instruments on the go. When you're looking for the best trading platform UK, here are some things you can't compromise on.
Speed
The speed of order execution must be fast enough for you to manage trades with efficiency and convenience. Whether you're doing day trading or taking any other investment route, you must make sure that you're not using an app that slows you down.
Low Minimum Deposits
If you're a beginner, you must look for a stock trading app with low minimum deposits. Take the example of Saxo Bank. Although it has multiple trade instruments, the minimum deposit is $2,000, making it difficult for new investors.
Meanwhile, some stock trading apps, like Degiro and Interactive Brokers, have $0 minimum deposits. Thus, they're more suitable for beginners and novice investors since they don't need a high upfront investment.
Several Order Types
Over time, you'd obviously want to delve into new trading arenas and try different financial instruments. To ensure profitability in this regard, it's important to opt for a stock trading app that allows you to put different order types, such as short selling and conditional orders.
For instance, in conditional orders, you can set conditions for the transaction to be triggered. Meanwhile, in short selling, you can open a short position based on the downward movement of a currency pair.
Charting Tools
Financial charts help you observe market trends over a certain period. You can also use them to predict market movements, especially with respect to your assets. Two widely used charts in the financial space are candlestick and bar charts.
It's useful for the trading apps to have charting tools as they can help you make more informed and data-driven decisions.
Trading Alerts
Make sure the stock trading app you choose sends you trading notifications and alerts. In this way, you don't miss any important market happenings even when on the go.
How to Choose a Stock Broker in the UK?
Take these steps to find the best stock trading app in the UK.
Step 1: Learn Regulation and Reliability
Once you have narrowed down the list of possible choices, look at their regulations. Which authorities regulate them? As a UK investor, you should check if the broker is regulated by the Financial Conduct Authority (FCA).
Well-reputed brokers are also regulated by other international regulatory bodies. You can check for that too. Other than that, determine how reliable a broker is.
If a stock trading app comes with good customer support, you can expect to have assistance at any point you get stuck during stock trading.
Step 2: Research Trading Assets
Regardless of how reliable or well-regulated a stock trading broker is, if it does not allow trading in your preferred instrument or asset, it's of no use to you. For instance, if you want to invest in initial public offerings, you'd have to opt for TradeStation Global since not all brokers allow IPO trading.
Likewise, investors who want to trade currency pairs and cryptocurrencies should also check if their shortlisted brokers support these assets.
Step 3: Explore App's Functionality
Often, a broker's app platform is not as functional or convenient as the web or desktop version. Therefore, you should check the functionality of the app to make sure there are no problems during trading. Here are some things to consider:
Execution Speed: It is the speed at which the orders are executed. You definitely don't want the app to slow your trading speed down.
Analytical Tools: It's useful to have in-app analytical tools so that you don't have to use the desktop version while you're traveling. The analytical tools of a brokerage app allow you to make informed decisions.
Charting: Charts, such as line, bar, and the candlestick, help you navigate trading with data-driven knowledge. Make sure the app has charting features so that you can determine the status of your assets.
Step 4: Try Demo
Most trading platforms offer a Demo account that you can use to test the platform's features or simply practice trading without losing any actual money. Everything works the same way in the Demo account as it does in the real mode.
Even if you're not a beginner, you should try Demo since it will make you familiar with the platform's features.
Step 5: Open an Account
If you're satisfied with the features of the trading platform, go ahead and make an account. You can select the type of account you want to make based on your preferences.
For instance, some trading platforms have corporate accounts for companies. Meanwhile, others have custodial accounts that are helpful for inexperienced investors who need to be overseen by experienced family members or partners.
Best Stock Trading App For Beginners in the UK
The best UK stock trading app for beginners is eToro since it has all the functionalities an inexperienced investor could need, such as educational material and copy trading. Making use of copy trading, beginners can enter the stock market while emulating the trades opened by experienced investors.
Moreover, eToro has a low minimum investment and allows you to trade cryptocurrencies.
Is Stock Trading Safe? Is It a Good Idea?
Stock trading is legal in the UK, and the brokers mentioned in this guide are all well-regulated. Therefore, there's no question of safety in terms of stock trading.
However, beginners should use conservative investment strategies or leverage copy trading since the volatility in the financial markets can lead to you losing a lot of money as an inexperienced investor.
Investors may also want to explore the best investment apps in the UK to make long-term oriented investments. Long-term approach is usually considers safer comparably to trading.
Stock Brokers in the UK - Best Reviews
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Comment
degiro provides for good trading when economic news is released. If you're lucky, you can make good money in a short time. I passed verification quickly and funded my account, which took a while. The money didn’t arrive for a long time, but then everything went fine.
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Comment
Despite the large number of brokerage companies, it is difficult for me to find conditions more suitable than those of DEGIRO. This can only be realized when you start trading here. The quality of service is felt immediately!
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Comment
Degiro is an experienced broker from the Netherlands. For me (a novice trader), the main condition for choosing was the absence of a minimum threshold for opening an account. The broker does not offer a demo version, so I immediately started trading for real money. An important factor for me is that the account can be opened in the base currency of the state of which you are a resident. This provides significant savings when withdrawing funds, since there is no need to incur conversion costs. Despite the fact that the broker also provides services on the stock market, which means it requires KYC, registration takes only one day. I read Degiro as a reliable company, I hope that I will not be disappointed in the process of work.
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Comment
As prescribed by the terms of trade and withdrawal of money from the account, they are followed. It turns out there are no brakes with either execution or output. In fact, the conditions are average, there are worse and better conditions on the market, but for the fact that they are strictly observed, I value Degiro for this and work with them. Because what is the use of good conditions if the company does not comply with them and throws the client in all respects. I came across such. No, that's enough, it's better to trade calmly with degiro and not worry about execution and withdrawal.
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Comment
There were some people who wrote that Degiro does not have a demo account and called it a disadvantage of the broker. I don't think so. It is better to start immediately with real trading, only with small amounts. Degiro has no entry threshold, you can trade with at least ten bucks in your pocket. The choice of account types here is decent, I also do not complain about the variety of assets. Commissions are as low as possible, the broker is not going to take everything from you. My friend started trading on this platform as a complete newbie. He says that he was pleasantly surprised by the high-quality training at the Trading Academy and the patient attitude of the managers. They helped him to understand all the nuances and successfully start on the stock market.
FAQs
What Is the Best Trading Platform in the UK?
eToro is the best stock trading app for beginners UK since it has educational resources, a low minimum deposit requirement, and copy trading capability.
What is Day Trading?
Day trading refers to the practice of purchasing and selling stocks in a short duration, usually a day. The aim of day trading is to make a tiny profit on every trade and compound the profits over a certain period.
What is Copy Trading?
In copy trading, inexperienced investors open the same positions as experienced investors, essentially copying their trades to make a profit.
Who Regulates Trading Apps in the UK?
The Financial Conduct Authority regulates trading platforms in the UK. If the FCA feels that the Consumers are being harmed, the authority can intervene accordingly.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).