Best Trading Apps UK: Top 10 Picks for Investors

The rise of smartphones has revolutionised the way people invest, with stock trading apps becoming increasingly popular among both new and seasoned investors. In this article, we’ll explore the top 5 best stock trading apps in the UK, considering factors such as user-friendliness, investment options, fees, and regulatory status.

Remember: investment is speculative, and as an investor, your capital is at risk. This means you might lose some or all of your money.

Selecting the Right Trading App for You

Choosing the right stock trading app uk, ultimately depends on your individual needs and preferences as an investor. To find the best UK stock trading app for your requirements, consider the following factors:

• Investment options: Ensure the app provides access to the types of assets you’re interested in trading, such as stocks, ETFs, options, or bonds.
• Fees and charges: Compare the fee structures of various platforms to find one that aligns with your trading frequency and investment style. Keep in mind that some platforms may offer lower fees for higher trading volumes or for specific investment types.
• User experience: The app should be easy to use and navigate, with a user-friendly interface that makes trading as seamless as possible.
• Research and educational resources: If you’re new to investing or looking to expand your knowledge, consider platforms that offer extensive research tools and educational resources to help you make informed decisions.
• Security and regulation: Ensure the app is regulated by a reputable financial authority, such as the UK’s Financial Conduct Authority (FCA), to guarantee a secure and trustworthy trading environment.
• Customer support: Reliable customer support can be crucial in addressing any issues or concerns that may arise during your trading journey. Look for apps with responsive and helpful customer service.

Top 10 Best Trading Apps UK

Here’s our pick of the top best stock trading apps in the UK, catering to various levels of experience and investment preferences:

eToro – Excellent for newcomers and social interaction

Freetrade – Offers a simple and user-friendly platform for commission-free trading

Trading212 – perfect for practicing trades with virtual funds and low cost

Fidelity Personal Investing – ideal for fund-focused investors

IG – suitable for experienced investors and institutional investors seeking advanced features

Revolut – great for international stock trading and currency exchange

Interactive Brokers – perfect for advanced traders seeking low fees

Hargreaves Lansdown – ideal for research-driven investors and diverse portfolios

Degiro – suitable for cost-conscious retail investor accounts

Fineco Bank – ideal for multi-currency investing and international access

1. eToro

eToro is an excellent choice for beginners, offering a user-friendly app and zero-commission trades. The platform allows users to invest in a variety of assets, including stocks, commodities, and cryptocurrencies. One unique feature is the ability to follow and copy the trades of successful investors. eToro is regulated by the UK’s Financial Conduct Authority (FCA).

eToro is a popular social trading platform that allows users to invest in a wide range of financial instruments, including stocks, cryptocurrencies, commodities, and ETFs. With eToro’s unique CopyTrader feature, users can follow and copy the trades of top-performing investors on the platform. eToro offers a user-friendly app that is suitable for both beginners and experienced professional traders. While eToro offers zero-commission trades, it charges a conversion fee for non-USD deposits and withdrawals. This is our choice for the best trading app uk!

Pros:

User-friendly platform: eToro’s interface is intuitive and easy to navigate, making it an excellent choice for beginner investors and experienced traders alike.

Social and copy trading features: eToro’s unique social trading aspect allows users to follow and copy trades of successful investors also known as copy trading, fostering a community-based learning environment also known as retail traders.

Commission-free stock trading: eToro offers zero-commission trading on stocks, making it more affordable for users to invest in their preferred companies.

Wide range of assets: Users can access a diverse selection of assets, including stocks, ETFs, cryptocurrencies, and commodities, providing ample investment opportunities.

Fractional share investing: eToro supports fractional share investing, allowing users to invest in smaller portions of high-priced stocks, making it more accessible for those with limited budgets.

Cons:

Higher fees for certain asset types: While stock trading is commission-free, eToro charges fees for trading other asset types, such as cryptocurrencies, which may be higher compared to some other platforms.

Withdrawal fees: eToro imposes a withdrawal fee, which can be a downside for users who frequently withdraw funds from their accounts.

2. Free Trade

Freetrade offers commission-free trading and access to a wide range of stocks, IPOs, and SPACs from various markets. The app is easy to use and provides educational guides for new investors. Freetrade Plus, available for £9.99 per month or £11.99 a month after May 2023, offers a broader investment selection, including European shares. FCA regulated.

Free Trade is a UK-based trading app that offers commission-free trading on a variety of stocks and ETFs. With a focus on simplicity, Freetrade is an excellent choice for beginners looking to start investing. The platform offers educational resources and a community forum to help users learn more about investing. For more advanced features, Freetrade Plus is available at £9.99 per month, which includes access to additional stocks, a broader range of ETFs, and priority customer support.

Pros:

Simple and accessible platform: Freetrade’s user-friendly interface makes investing easy, especially for beginners.

Commission-free trading: Users can trade stocks and ETFs without paying any commission, reducing trading costs.

Investment guidance: Freetrade offers helpful guides and resources for users to make informed investment decisions.

Access to multiple stock markets: Users can invest in UK, US, and select European stocks, providing a diversified investment portfolio.

Fractional shares: Freetrade supports fractional shares, allowing users to invest in expensive stocks with smaller amounts.

Cons:

Limited advanced trading options: Freetrade may not be suitable for advanced traders looking for more sophisticated trading tools and options.

Limited asset types: The platform focuses on stocks and ETFs, with fewer options for other asset types like options or bonds.

3. Trading212

Trading212 offers commission-free trades and access to over 10,000 stocks and ETFs from multiple markets. Users can practice trading with a free, lifetime practice trading account that uses virtual money. The platform also provides more advanced investment options, such as trading CFDs on stocks, forex, gold, oil, and indices. FCA regulated.

Trading 212 is a user-friendly stock trading app that provides commission-free trading on a wide range of stocks, ETFs, and CFDs. The platform offers advanced charting tools and a virtual practice trading account with virtual money for users to gain experience before trading with real money. Trading 212 also supports fractional share investing, margin trading and allows users to invest in popular stocks with smaller amounts of capital. Another great choice for the best trading apps in the UK!

Pros:

Demo account: Trading212 offers a free, lifetime practice account with virtual money, allowing users to practice trading without financial risk.

Wide range of assets: Users can access over 10,000 stocks and ETFs from various markets, including the UK, US, and European countries.

Commission-free trading: Trading212 provides unlimited commission-free trades, making it an affordable choice for investors.

Advanced trading options: The platform offers over 3,000 contracts for difference (CFDs) on stocks, forex, gold, oil, and indices, catering to more experienced traders.

User-friendly interface: The Trading212 app is easy to use and navigate, with a visually appealing design.

Cons:

CFD trading risks: Trading CFDs can be risky, and inexperienced users might encounter losses if not careful.

Limited educational resources: Trading212’s educational resources may not be as comprehensive as those provided by other platforms.

4. Fidelity Personal Investing

Fidelity Personal Investing enables investors to choose from over 2,500 funds and various shares, investment trusts, and ETFs. The app allows users to link family members’ accounts for a comprehensive overview of their investments. FCA regulated.

Its a well-established investment platform that offers a comprehensive selection of exchange traded funds, shares, ETFs, and investment trusts. The platform provides in-depth research, expert insights, and a variety of tools to help investors make informed decisions. Fidelity charges a flat fee per trade for stocks, exchange traded funds and ETFs, with lower fees for trading funds. The platform also offers a Stocks and Shares ISA and a Self-Invested Personal Pension (SIPP) for tax-efficient investing.

Pros:

Wide range of funds: Fidelity offers access to over 2,500 funds, catering to various investment preferences.

Reputable platform: Fidelity is a well-established company with a strong reputation in the investment industry.

Family account linking: Users can link family members’ accounts to view and manage their investments in one place.

Robust research and tools: Fidelity provides comprehensive research, tools, and educational resources for informed decision-making.

Investment variety: Users can access a variety of investment options like FTSE 100, FTSE 250, FTSE All-Share, and FTSE AIM 100 shares, investment trusts, and ETFs.

Cons:

Limited app functionality: Some features available on Fidelity’s web platform might not be accessible through their mobile app.

Fees: Fidelity charges fees for trading stocks and other assets, which can be higher compared to commission-free platforms.

5. IG

IG is the best trading app for experienced investors, with access to over 17,000 global markets, including shares, indices, options, and commodities. The app features interactive charts, news, trading alerts, and real-time signals. Users can spread bet or trade CFDs on commodities, and options trading is available on various assets. FCA regulated.

IG is a leading trading platform suitable for more experienced investors, offering access to thousands of global markets, including shares, indices, commodities, and options. The platform provides advanced trading tools, such as interactive charts, news, automatic trading alerts, and real-time signals. IG also offers spread betting and CFD trading, allowing users to speculate on price movements without owning the underlying assets. The trading apps platform is known for its competitive fees and 24-hour customer support.

Wide range of markets: IG allows users to trade on more than 17,000 global markets, including shares, indices, options, and commodities.

Advanced trading tools: The platform features interactive charts, news, automatic trading alerts, and real-time signals, catering to experienced investors.

Options and trading spread bets: Users can spread bet or trade CFDs on commodities, and options trading is available on various assets timed daily, weekly, and monthly.

Established reputation: IG is a well-known and reputable trading platform with a long history in the industry.

Mobile app functionality: The IG trading app is robust and well-designed, providing users with the necessary tools for trading on the go.

Cons:

Fees: IG charges trading fees for certain assets, which may be higher than those charged by commission-free platforms.

Not ideal for beginners: IG’s advanced trading tools and features might be overwhelming for new investors who prefer a more simplified interface.

6. Revolut

Revolut is a popular app for international stock trading, offering access to a variety of global markets. The platform provides commission-free trades, currency exchange, and other banking services. Revolut is user-friendly and well-suited for investors looking for a comprehensive financial solution. FCA regulated.

Revolut started as a digital banking app but has expanded its offerings to include commission-free stock trading for its Metal and Premium account holders. Users can invest in a variety of international stocks, providing exposure to multiple markets. Revolut also offers currency exchange services, making it easier for users to invest in foreign stocks without incurring high fees. The platform is FCA regulated, ensuring a secure stock trading environment.

Pros:

International stock trading: Revolut offers access to stocks from the US, UK, and European markets, allowing for diversified investments.

Currency exchange: Users can exchange and hold multiple currencies within the app, making it ideal for international investments and travel.

Commission-free trading: Revolut allows users to trade without commissions (limits apply), keeping costs low.

User-friendly interface: The app has a clean and easy-to-navigate design, making it a great choice for beginners.

All-in-one financial solution: Revolut also provides banking, cryptocurrency, stock trading app, and money transfer services, consolidating financial management in one app.

Cons:

Limited trading options: Revolut’s focus on stocks and ETFs means fewer options for other asset types like options or bonds.

Monthly fee: To access some premium features, users need to subscribe to a monthly plan, which can be an additional cost.

7. Interactive Brokers

Interactive Brokers is an excellent choice for advanced traders, offering a wide range of investment options and sophisticated trading tools. The platform provides low fees, making it suitable for cost-conscious investors. Interactive Brokers is regulated by multiple authorities, including the FCA in the UK.

Interactive Brokers is considered an advanced trading platform that offers access to a wide range of financial instruments, including stocks, options, futures, forex, and bonds. The platform provides advanced trading tools, such as sophisticated order types, customizable charts, and algorithmic trading capabilities. Interactive Brokers is known for its low fees and tiered pricing structure, which rewards high-volume traders with lower per-trade costs.

Pros:

Advanced trading tools: Interactive Brokers offers a comprehensive suite of tools and features for experienced traders.

Low trading fees: The platform is known for its competitive trading fee structure, making it a cost-effective choice for active traders.

Wide range of assets: Users can access a large variety of assets, including stocks, ETFs, futures, options, forex, and more.

Global market access: Interactive Brokers provides access to over 135 markets in 33 countries, allowing for diversified investments.

Robust research resources: The platform offers extensive research and analysis tools, helping users make informed decisions.

Cons:

Complex interface: Interactive Brokers’ interface might be overwhelming for beginners or casual investors.

Minimum account balance: There is a minimum account balance requirement for some users, which can be a barrier for entry.

8. Hargreaves Lansdown

Hargreaves Lansdown is known for its comprehensive research and investment variety, providing access to shares, funds, ETFs, and more. The app offers a user-friendly interface and various tools to help investors make informed decisions. Hargreaves Lansdown is FCA regulated.

Its one of the UK’s largest investment platforms, offering a comprehensive range of investment options, including stocks, funds, ETFs, investment trusts, and bonds. The platform provides extensive research, expert insights, and various tools to help investors make informed decisions.

Hargreaves Lansdown also offers a Stocks and Shares ISA, Lifetime ISA, Junior ISA, and a Self-Invested Personal Pension (SIPP) for tax-efficient investing. While the platform charges a dealing fee for trading stocks, it offers lower fees for trading funds.

Pros:

Comprehensive research: Hargreaves Lansdown offers in-depth research, expert analysis, and investment recommendations to aid decision-making.

Wide range of investments: Users can access various asset types, including stocks, mutual funds, investment trusts, and bonds.

User-friendly platform: The app is intuitive and easy to navigate, making it suitable for both beginners and experienced investors.

Award-winning platform: Hargreaves Lansdown has won numerous industry awards for its services and features.

Investment management options: Users can choose from a range of investment management services, including DIY investing and managed portfolios.

Cons:

Fees: Hargreaves Lansdown’s fees can be higher than those of commission-free investment platforms, which can affect long-term returns.

Limited international stock access: The platform’s focus on UK investments may not be ideal for users seeking exposure to global markets.

9. Degiro

Degiro is a low-cost investing app and platform, offering competitive fees for trading shares, ETFs, and other investment products. The app is easy to use and provides access to a wide range of international markets. Degiro is regulated by the Dutch Authority for the Financial Markets (AFM) and the Dutch Central Bank (DNB), with client funds held in the UK.

One of Degiro’s key features is its transparency when it comes to fees. Investors can easily find a detailed breakdown of all costs associated with trading, ensuring they are well-informed before making decisions. Additionally, the platform offers a selection of commission-free ETFs, which can further help investors minimize costs.

While Degiro might not offer the extensive research tools and educational resources found on some other platforms, it does provide a clean and user-friendly interface. This simplicity makes it easy for both new and experienced investors to navigate the platform and execute trades.

Pros:

Low-cost investing: Degiro is known for its low fees, making it an attractive choice for cost-conscious investors.

Wide range of assets: Users can access stocks, ETFs, options, futures, bonds, and more, offering investment diversity.

Global stock market access: Degiro provides access to over 50 stock exchanges worldwide, allowing users to invest in various markets.

Basic trading tools: The platform offers essential trading tools and resources for research and analysis for online trading.

Web and mobile platforms: Degiro is available on both web and mobile devices, providing flexibility for users.

Cons:

Limited advanced trading tools: for experienced traders seeking advanced trading strategies, tools and features.

Customer support: Degiro’s customer support may not be as responsive or comprehensive as that of other platforms, which can be a concern for some users.

10. Fineco Bank

Fineco Bank is suitable for investors who need multi-currency accounts, providing access to shares, ETFs, and funds across multiple markets. The app offers competitive fees and advanced trading tools for experienced investors. Fineco Bank is authorized by the Bank of Italy and is subject to limited regulation by the FCA in the UK.

Fineco Bank is an Italian-based online banking and brokerage platform that offers access to a wide range of financial instruments, including stocks, ETFs, bonds, options, and futures. The platform provides advanced trading tools, such as customizable charts, professional order types, and a powerful trading platform. Fineco Bank charges competitive fees and offers multi-currency accounts, making it easier for users to invest in international markets. The platform is regulated by the Bank of Italy and is a member of the London Stock Exchange.

Pros:

Multi-currency accounts: Fineco Bank allows users to hold and manage multiple currencies, making it ideal for international investments.

Wide range of assets: Users can access various asset types, including stocks, ETFs, bonds, options, futures, and more.

Global market access: Fineco Bank offers access to over 26 global markets, providing opportunities for diversified investments.

Banking and investment services: Fineco Bank combines banking and investment services, allowing users to manage their finances in one place.

Competitive trading fees: The platform offers competitive fees for trading, making it an attractive choice for cost-conscious retail investors.

Cons:

Complex interface: Fineco Bank’s interface can be overwhelming for beginners or casual investors, with a focus on more advanced tools and features.

Limited educational resources: The platform may not provide extensive educational resources for users to learn about investing and improve their skills.

How Do I Buy Stocks In The UK?

Buying stocks in the UK is a relatively straightforward process. Here’s a step-by-step guide to help you get started:

1. Choose a Trading Platform Or Broker

Select a reputable online trading platform or broker that offers access to UK stocks. Some popular options include eToro, Freetrade, Hargreaves Lansdown, IG, and Interactive Brokers. Compare their fees, available assets, and features to find the one that suits your needs best.

2. Open An Account

Sign up for an account on your chosen platform. You’ll typically need to provide personal information, such as your name, address, email, and phone number. You may also be required to verify your identity by providing a copy of your passport or driver’s license.

3. Deposit funds

To start trading, you’ll need to deposit funds into your brokerage account. Most platforms accept various funding methods, such as bank transfers, debit or credit cards, and electronic wallets (e.g., PayPal or Skrill). The processing time and fees may vary depending on the platform and your chosen funding method.

4. Choose The Stocks You Want To Invest In

Research and select the UK stocks you want to buy. Consider factors such as the company’s financial health, growth potential, industry trends, and dividend history. You can also use tools like stock screeners and financial news to help you make informed decisions.

5. Place An Order

Once you’ve identified the stocks you want to buy, place an order through your trading platform. You can choose between different order types, such as market orders (buying shares at the current market price) or limit orders (buying shares at a specified price or lower). Keep in mind that some trading platforms may charge a commission or trading fee for each transaction.

6. Monitor Your Investments

Regularly track the performance of your stocks and stay updated on stock market news and company announcements. Based on your investment strategy and goals, you may decide to hold your stocks for the long term or sell them when they reach a certain profit level. Consider learning technical indicators during this process, you can find them on your chosen mobile stock trading apps.

7. Consider Tax Implications

When investing in UK stocks, you may be subject to capital gains tax on your profits. However, you can minimize your tax liability by investing through a tax-efficient account, such as a Stocks and Shares ISA or a Self-Invested Personal Pension (SIPP).

Remember that investing in stocks carries risks, and you should only invest what you can afford to lose money when you start trading them. It’s essential to diversify your portfolio and consider seeking professional financial advice if you’re unsure about your investment decisions.

How Much Money Should I Start With Investing?

The amount of money you should start with when investing depends on several factors, including your financial goals, risk tolerance, investment knowledge, and personal financial situation. Here are some general guidelines to help you decide:

Assess Your Financial Situation

Before you start investing, it’s important to ensure you have an emergency fund that covers at least 3-6 months of living expenses. Also, make sure you have paid off any high-interest debt, as the interest you save by paying off the debt could outweigh any potential investment returns.

Start Small

If you’re new to investing, it’s a good idea to start with a small amount of money, such as £500-£1,000. This will allow you to gain experience and become more comfortable with the investing process before committing larger sums.

Consider Your Investment Goals

Your investment goals will play a significant role in determining how much money you should start with. For example, if you’re investing for a long-term goal like retirement, you may want to invest more aggressively than if you’re investing for a short-term goal like a vacation.

Determine Your Risk Tolerance

Your risk tolerance is your ability and willingness to accept losses in exchange for the potential of higher returns. If you have a low-risk tolerance, you might want to start with a smaller amount and invest in more conservative assets like bonds or index funds. Conversely, if you have a high-risk tolerance, you might choose to start with a larger amount and invest in higher-risk assets like stocks or actively managed funds.

Regular Contributions

Consider setting up regular contributions to your investment account, even if they’re small. This strategy, known as dollar-cost averaging, can help reduce the impact of market volatility and potentially improve your long-term returns.

Ultimately, the amount of money you should start with when investing depends on your unique circumstances. The key is to get started, learn as you go, and adjust your strategy as needed to meet your financial goals.

Do Day Traders Pay Tax UK?

Yes, day traders in the UK do pay taxes on their earnings. As a day trader, you’re actively buying and selling financial instruments within a single trading day, aiming to profit from short-term price fluctuations. The profits you make from day trading are subject to taxes.

In the UK, there are two main taxes you’ll need to consider as a day trader:

Capital Gains Tax (CGT): Capital Gains Tax is levied on the profits you make when you sell an asset, like shares, that has increased in value. The rate at which you’ll pay CGT depends on your income tax bracket and the size of your gains. However, there’s an annual tax-free allowance, known as the Annual Exempt Amount, which means you only pay CGT on gains above this threshold. For the tax year 2021/22, the allowance is £12,300.

Income Tax: If you’re classified as a professional trader or your day trading activities are considered as self-employment, you may be subject to Income Tax instead of Capital Gains Tax. This means your trading profits will be taxed as business income, and you’ll need to pay Income Tax at your applicable tax rate. You’ll also be responsible for paying National Insurance Contributions.

It’s important to keep accurate records of your trading activities and consult a tax professional to ensure you’re meeting your tax obligations. Tax laws can be complex, and it’s essential to understand the rules that apply to your specific situation to avoid any potential issues with HM Revenue & Customs (HMRC).

Conclusion

With a plethora of trading platforms and apps available in the UK, it’s essential to choose the one that best aligns with your investment goals, experience, and preferences. Our list of the top 10 trading apps, each with its unique strengths, provides a comprehensive starting point for finding the right platform for the best trading apps to suit your needs.

Remember to consider factors such as fees, user-friendliness, available investments, research tools, and the regulatory status of trading apps when making your decision. As you embark on your investment journey, always keep in mind that investing carries inherent risks, and it’s crucial to stay informed and make well-researched decisions. By selecting the right trading app and adopting a disciplined approach, you can take control of your financial future and work towards achieving your investment goals.

Please let us know what you thought about our choice of the best stock trading app below in the comments!