8 Best Trading Apps in the UK (2024)
The number of trading applications allowed to operate in the UK is growing by the day. Although these apps have different benefits, we have highlighted the best trading apps in the UK in this article.
Top 8 Trading Apps in the UK
Here is a ranking of the best Forex Trading Apps according to use case.
| App | Best For |
|---|---|
Best for at all |
|
Best UK client's experience |
|
Best for Stock Trading |
|
Best for International Stock Trading |
|
Best for Forex trading |
|
Best for beginners |
|
Best for Copy trading |
|
Best For CFD Trading |
Best Forex Trading Apps UK Comparison 2024
In this table, we take an in-depth look at the different trading apps using some factors;
| Trading App | Minimum Deposit | Local Regulation | Copy-trading (yes/no) | Max Leverage | GBP Accounts (yes/no) | ||
|---|---|---|---|---|---|---|---|
MetaTrader 4, MetaTrader 5, CTrader, RWebTrader, RMobileTrader, RTrader |
$10 |
Yes |
Yes |
1:2000 |
No |
||
MT4 Mobile, MT5 Mobile |
$5 |
Yes |
Yes |
1:30 |
Yes |
|
|
Admiral Markets |
$200 |
Yes |
Yes |
1:30 |
Yes |
|
|
IBKR Mobile |
$0 |
Yes |
No |
1:50 |
Yes |
|
|
eToro app, eToro Money |
$10 |
Yes |
Yes |
30:1 |
Yes |
|
|
Oanda fxTrading app |
$0 |
Yes |
Yes |
30:1 |
Yes |
||
FOREX.com Mobile app |
$100 |
Yes |
Yes |
30:1 |
Yes |
|
|
CMC Markets Mobile app |
$0 |
Yes |
Yes |
30:1 |
Yes |
RoboForex - Best for Professionals
RoboForex is a brokerage company that was founded in 2009. It provides services to financial markets in 169 countries. More than 3.5 million users are RoboForex clients. RoboForex is the leading software developer in the Forex industry.
RoboForex is recognized as a reliable partner by the most respected financial market experts. The company has won numerous prestigious awards. The RoboForex group of companies has an international license to provide services from FSC Belize, and a European license from CySEC (license No. is 191/13 Robomarkets Ltd).
XM - Best UK client's experience
XM Broker was founded in 2009. Initially, the company covered a narrow niche of the trader market, specializing exclusively in intermediary services at the foreign exchange market. It has since experienced considerable success and growth.
XM is reliable and safe. It has diversified and is now an international broker operating in almost 190 countries around the world. For over a decade XM Broker has attracted more than 5 million traders, offering unique technological solutions.
The company is now being recognised as the Fastest Growing Broker, the Best Forex Service Provider and various other contributing achievements. The team at XM Broker is committed to continually working hard to improve the quality of the services provided every year as they are committed to continually providing the best service to their traders.
Admiral Markets - Best for Beginners
Admiral Markets trading app
Admiral Markets is a safe broker launched in 2001. It is regulated in the UK by the Financial Conduct Authority (FCA). CySEC and ASIC also regulate the broker. Admiral Markets is a leader in the brokers available for UK traders.
Admiral Markets is widely preferred because it offers over 4,000 tradeable instruments and 47 currency pairs. Also, it is one of the few applications that offer both the MT4 and MT5 platforms. Offering both platforms allows traders the comfort of trading with their device of choice. The accounts offered by Admiral Markets are micro account, mini account, standard account, and the ECN account. They also offer a demo account for beginner traders to get conversant with the trading process and their platform, thereby minimizing the risk of losing funds.
However, one of the disadvantages of using Admiral Markets for trading is that the broker charges an inactivity fee.
To open an account with Admiral Markets, users are expected to present a scanned copy of their passport, national ID, or driving license. Also, a recent utility bill or bank statement that shows your address is needed.
Interactive Brokers (IBKR Mobile) - Best APP for International Stock Trading
Interactive Brokers is an app launched in 1993. Traders prefer it because of its low costs, broad market access, and speed of trade executions. On Interactive Brokers, customers can trade forex, futures, stocks, options, funds on over 130 markets, and bonds from a single integrated account. Integrated Brokers is regulated in the UK by the Financial Conduct Authority (FCA). The broker is also regulated by five other bodies, including Securities Futures Commission (SFC) and Commodity Futures Trading Commission (CFTC).
Interactive Brokers offers the opportunity to trade the same asset classes and order types on its mobile platform, IBKR mobile and TWS. However, the workflow is more intuitive and easily understood. The IBKR mobile offers the same functions as the portal, including research capabilities, options strategy tools, and screeners.
The primary benefits of using Interactive Brokers are that it has a high speed of execution of transactions, is excellently reliable, has low fees for international stocks, and has a wide range of trading assets.
Interactive Brokers has various tools, calculators, idea generators, and screeners to help you pick your next trade. Some of these screeners include Stock and ETF screener, options screener, mutual fund screener, fixed income screener, charting.
Interactive Brokers Fees ReviewIC Markets - Best for Forex Trading
IC Markets is a highly respected brokerage company that has been providing top-notch Forex trading services since its inception in 2007. The company is known for its ultra-fast trade execution, competitive spreads, and low fees. With offices in multiple countries and a client base spanning over 200 countries, IC Markets is one of the most trusted names in the Forex industry.
IC Markets has won several awards for its outstanding trading conditions, customer support, and cutting-edge technology. The company is fully licensed and regulated by the Australian Securities and Investments Commission (ASIC) with license number 13527. This regulatory body ensures that IC Markets operates with the highest levels of integrity, providing traders with a safe and secure trading environment. The company offers a range of trading instruments, including Forex, stocks, and commodities.
IC Markets UK - Is It a Good Broker?Exness - Best for Beginners
If you're looking for a reliable Forex broker, Exness is definitely worth considering. The company was established in 2008 and has since grown to become one of the most reputable brokers in the industry. With clients in over 190 countries and more than 260,000 active traders, Exness has earned a reputation for its user-friendly platform, excellent customer support, and competitive spreads. The company offers a range of trading instruments, including forex, cryptocurrencies, and commodities, with competitive spreads and fast order execution.
What sets Exness apart is its commitment to regulation and transparency. Exness is regulated by CySEC in Cyprus, FSA in Seychelles, FCA in the UK, FSCA in South Africa, CMA in Kenya, and FSC in Mauritius. This means the company is subject to stringent regulatory requirements, ensuring that your investments are protected.
Exness Great Britain ReviewAMarkets - Best for Copytrading
AMarkets is a reputable brokerage company that has been providing top-quality financial services to traders for about 16 years. With clients in over 200 countries worldwide, the company is recognized for its reliability, transparency, and outstanding customer support. AMarkets is fully regulated by the International Financial Services Authority of Saint Vincent, with license number 22567 IBC 2015.
One of the standout features of AMarkets is its user-friendly trading platform, which caters to the needs of traders of all experience levels. The company also offers a wide range of trading instruments, including Forex, CFDs, and cryptocurrencies, giving traders plenty of options to choose from. Additionally, AMarkets provides excellent customer support, with a dedicated team available 24/5 to assist with any questions or concerns.
FXPro - Best for CFD Trading
FxPro is a well-established brokerage company that has experienced tremendous growth and success since its founding in 2006. Initially focused on intermediary services in the foreign exchange market, FxPro has since diversified and become an international broker operating in over 170 countries worldwide. With over 1,860,000 client accounts, the company offers exceptional technological solutions to traders of all backgrounds.
FxPro is licensed and regulated by several financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, the Financial Sector Conduct Authority (FSCA) in South Africa, and the Securities Commission of the Bahamas (SCB).
The company's commercial offer includes a wide range of financial instruments for trading, including over 70 currency pairs, more than 150 CFDs on shares, indices, commodities, and futures, as well as spread betting services. FxPro also provides clients with access to advanced trading platforms, including MetaTrader 4 and MetaTrader 5, cTrader, and a proprietary web-based platform. Additionally, FxPro offers various educational resources, market analysis, and trading tools to support its clients' trading activities.
What to look for in a trading app
When picking out a trading app, here are some factors to consider;
Reliability
When it comes to selecting the best forex trading application, one of the most important factors to look out for is the app's reliability. This can be measured in terms of protecting funds, regulation, promptness in settling disputes, and customer service support. You should trade with an app that you can depend on at any time.
Security of Data
While there have been cases where some trading applications have been accused of selling client data to third parties and willing buyers, it is necessary to ensure that your trading app is reputable and not susceptible to attacks.
Responsiveness
The difference between a profit and loss in trading can depend on the speed with which your app executes your trade orders. Suppose your app is not responsive or delays before trades are being executed. In that case, you will certainly run the risk of losing.
User-friendly Interface
Aside from the responsiveness of your trading application, it is necessary to ensure that your app is user-friendly. A user-friendly app will help you navigate quickly and place trade orders without searching the whole screen, which could sometimes lead to losses when trading.
Automatic Trading
With the advent of social trading, where new traders don't have to get involved with the analysis of markets or placing trade orders themselves, finding a trading application that lets you copy the trades of professionals limits your risk of losing funds while allowing you to earn. Also, you can use the time to learn and get conversant with trading (using the demo account) while studying the trades placed by the professionals.
Analysis Tools
Whether you're a new trader or an experienced trader, you need to select a trading application that provides top-of-the-line analysis tools. These tools will help you better prepare and learn about the market conditions before placing any trade. Educational resources like video resources, blog content, and others will go a long way in giving you the needed edge to profit from trading. If a trading application provides insufficient educational resources, you will risk losing your funds.
7 Best Stock Trading Apps in the UKHow to Choose a Broker’s App in the UK?
To choose a brokers app, here are some steps to take;
Learn regulation and reliability
The most important factor to consider when choosing a trading application is its regulatory status. While there are many regulators globally, the official regulator for all UK trading apps is the Financial Conduct Authority (FCA). It is vital to ensure that any app you decide to settle on is regulated by the FCA or any other regulator recognized in the UK. Also, you should ensure the app's reliability in terms of the protection of funds and the security of personal data. You don't want to put your funds in a trading app susceptible to attacks or loss of essential customer data.
Research Trading assets
Different trading apps have a range of trading assets. Your research into trading apps needs to cover the trading assets they offer to users. This is important because the broader the tradeable assets offered by your preferred broker, the more diverse your earning potential will be. Tradeable assets include derivatives, gold, real estate, cash, and cash equivalents, cryptocurrency, bonds, stocks, forex, and commodities. You should ensure you properly research which supplication fits the bill for trading assets.
Explore App’s Functionality
Before deciding on a trading application, you should explore the application's functionality. This can be done by checking its execution speed. Execution speed is vital in trading because an app with a faster execution speed allows you to react quickly to evolving market conditions and resolve the issues around execution price.
Another functionality to consider is the analytical tools provided by the trading application. Technical analysis tools are essential because they analyze technical charts to understand the market trend. Also, some tools are used to provide buying and selling signals by predicting price trends. Some of the technical tools are On-Balance-Volume (OBV), Accumulation/Distribution (A/D) Line, Moving Average Convergence/Divergence (MACD), Relative Signal Index, Parabolic SAR.
Try Demo
The demo account provided by your preferred trading app will not only help you learn to trade without the fear of losing your funds, but it will also give you ample time to study the app, the market. You will practice different trading strategies and patterns without necessarily using your funds.
Open an account
After you have tried the demo account and gotten conversant with trading using your preferred trading app, the next step is to open an account with the broker. Depending on the type of account offered and your level of experience, you should open an account suitable for needs and trading patterns.
Best Forex Trading Apps For Beginners in the UK
The best forex trading applications for beginners have copy trading capabilities to ensure beginners can minimize risk when learning to trade. Also, when starting in forex trading, you should look out for applications with comprehensive and extensive educational resources. From our research, the best application that fits this profile is eToro.
How Much Tax Do Traders Pay in the UK?
If you are trading in the UK, it is important to be aware of the tax that you have to pay. Speculative traders who engage in short-term trades do not have to pay any capital gain or income tax, which is a huge advantage. However, you will be liable for corporation tax on your profits. If your profits are more than £50,000, then you must pay 20% income tax.
Fortunately, traders with profits less than this amount benefit from a special relief which means they do not have to pay any income tax or capital gains tax in the UK. Knowing how much tax you owe and when to pay it is vital for successful trading in the UK. Self-employed traders pay either 10% or 20% capital gain tax depending on whether their total income is below or above £50,000, respectively.
Do I Pay Forex Trading Tax in the UK?Which Apps are Best for Stock Trading in the Uk?
Investing in stocks can be a great way to diversify your portfolio. If you're looking for the best apps for stock trading in the UK, there are several options available. One of the top choices is RoboForex, which offers competitive fees and a wide range of markets. With RoboForex, you can access thousands of CFDs on stocks from major exchanges around the world. The platform also offers tight spreads and leverage up to 1:30.
Another popular option is IC Markets, which provides traders with access to more than 200 global markets with leverage up to 1:30. This makes it ideal for experienced traders looking to take advantage of larger positions. Additionally, IC Markets offers low commissions and spreads as well as advanced charting tools and automated trading capabilities.
Finally, Interactive Brokers is another great choice for stock trading in the UK. This platform offers access to over 125 international markets with low commissions and fees. It also provides advanced order types, such as conditional orders and algorithmic trading strategies. Plus, Interactive Brokers has a user-friendly interface that makes it easy to navigate, even for beginners.
Is Trading Legal In the UK? Is it Safe?
Yes, Forex trading is legal in the UK. This is because the local regulatory body of the UK, the Financial Conduct Authority (FCA), regulates every broker that is allowed to operate in the country. However, when searching for forex trading applications, it is best to go for well-regulated and reliable international and locally regulated brokers.
FAQs
Which trading platform is best in the UK?
RoboForex is a popular trading platform in the UK that offers a wide range of trading instruments, including forex, stocks, and cryptocurrencies. The platform has a user-friendly interface, advanced trading tools, and low fees, making it a preferred choice for traders in the UK.
Which stock trading site is best for beginners in the UK?
Admiral Markets is a highly-regarded stock trading site for beginners in the UK. The platform offers a demo account, educational resources, and a user-friendly interface to help beginners learn the basics of trading. With low fees and a wide range of trading instruments, Admiral Markets is an excellent option for novice traders.
What investing app should I use in the UK?
Interactive Brokers (IBKR Mobile) is a highly-rated investing app in the UK, offering access to a wide range of investment products, including stocks, bonds, ETFs, and options. The app has a user-friendly interface, advanced trading tools, and low fees, making it an excellent option for both novice and experienced investors in the UK.
What's the best trading app to use?
XM is a highly-rated trading app that offers access to a wide range of trading instruments, including forex, stocks, and commodities. The app has a user-friendly interface, advanced trading tools, and low fees, making it an excellent option for traders looking for a reliable and efficient trading app. With a variety of account types and flexible leverage options, XM is an excellent choice for traders of all levels.
Can I trade forex in the UK?
Yes, you can trade forex in the UK.
Do Forex brokers have GBP accounts?
A wide variety of trading apps make provision for GBP accounts.
What factors should I consider when choosing a Forex application?
You should consider the application's security architecture, analysis tools, and copy trading capabilities.
Who regulates Forex applications in the UK?
The Financial Conduct Authority (FCA) regulates all forex applications that operate in the UK.
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