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- Hundreds of trading apps are available in the UK, but not all are suitable for beginners.
- The best apps for beginners have a clear interface, good support, and other essential attributes.
- To avoid getting confused and overwhelmed, every newbie should restrict themselves to the best trading apps for beginners.
- We’ve recommended the most beginner-friendly trading apps here. We used numerous factors to single them out from their competitors, including regulatory status, ease of use, and support quality.
Traders who use apps get to trade anytime, anywhere. With the right app, you can open, monitor, and close positions while traveling, at work, or resting at home. All you need is your mobile phone and internet connection. That said, if you’re a newbie, you must work with a beginner-friendly app with the right qualities, from a simple interface to support for demo trading.
Our team vetted countless apps while searching for the best trading apps for beginners in the UK. We narrowed down available options and have recommended the best 5 in this extensive guide.
List of the Best Trading Apps for Beginners
- eToro – Overall Best Trading App for Beginners
- AvaTrade – Best Trading App for Educational Resources
- FP Markets – Best Trading App for Novices with Basic Knowledge
- Pepperstone – Best App for Low-Cost Trading
- Plus500* – Best Trading App for Ease of Use
Note: 80% of CFD retail accounts lose money with this provider.
In This Guide
UK Trading Apps: Comparison Table
The best trading apps for beginners are the BEST for one very clear reason: they have features, interfaces, and tools tailored to meet the needs of beginners in the trading universe. That said, these platforms aren’t cut from the same cloth. They all have unique offerings, strengths, and drawbacks. For this reason, we encourage you to compare all of them before committing to a specific provider.
This table will help you conduct a quick comparison of the best trading apps. We’ve briefly covered crucial aspects like regulation, support, and funding options.
| Trading App | Licence & Regulation | Support Service | Software | Payment Method | Demo Account |
|---|---|---|---|---|---|
| eToro | FCA, MAS, CySEC, FSCA, ASIC, SFSA ADGM, MFSA, FSAS, GFSC, SEC | 24/5 | eToro investing platform and app, Multi-asset platform, Social Trading, Copy Trader, Smart Portfolios | Credit/debit cards, Bank transfer, Klarna, PayPal, Skrill, Neteller | Yes |
| AvaTrade | FCA, MAS, FSCA, CBI, CySEC, PFSA, ASIC, B.V.I FSC, FSA, ADGM, ISA | 24/5 | WebTrader, AvaOptions, AvaTrade App, Mac Trading, MT4, MT5, Automated Trading | Credit/debit cards, Neteller, Skrill, Wire transfer, WebMoney | Yes |
| FP Markets | FCA, MAS, FSCA, ASIC, CMA, CySEC, FSA | 24/7 | MT4, MT5, TradingView, cTrader, WebTrader, Mobile App, Copy Trading | Credit/debit cards, Neteller, Skrill, Bank transfer, Google Pay, Apple Pay | Yes |
| Pepperstone | MiFID, FCA, ASIC, FSCA, DFSA, CySEC, CMA, SCB, BaFin, | 24/7 | TradingView, MT4, MT5, cTrader, Pepperstone Trading Platform, Social trading | Visa, Mastercard, Bank transfer, Neteller, Skrill, PayPal | Yes |
| Plus500* 80% of retail investor accounts lose money when trading CFDs with this provider. | FCA, FMA, FSCA, CySEC, ASIC, MAS | 24/7 | Plus500 CFD | Visa, MasterCard, PayPal, Skrill, Bank Transfer | Yes |
Apps Short Overview
Trading with an excellent app is all well and good, but it won’t do you any good in the long run if the service providers’ fees and assets are exorbitant and limited, respectively. No matter how good an app may seem, you shouldn’t trade with it without checking its fees and assets. In the same spirit, we’ve outlined the fees and assets we discovered while exploring and assessing the most beginner-friendly apps in the UK. Check out the comparison tables below for more information.
Fees
| Trading App | Minimum Deposit Requirement | Commission/ Spreads | Deposits/ Withdrawals | Inactivity Fee |
|---|---|---|---|---|
| eToro | £50 | From 0% | £5 withdrawal fee | £10 monthly |
| AvaTrade | £100 | From 0.13% | Free | £50 inactivity fee after 3 consecutive months of non-use |
| FP Markets | £100 | From 0 pips | Free | £0 |
| Pepperstone | £0 | From 0 pips | Free | £0 |
| Plus500* | £100 | From 0.6 pips | Free | £10 |
Note: 80% of CFD retail accounts lose money with this provider.
Assets
| Trading App | Stocks | Forex | Crypto | Commodities | Indices | ETFs | Options |
|---|---|---|---|---|---|---|---|
| eToro | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| AvaTrade | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| FP Markets | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Pepperstone | Yes | Yes | Yes | Yes | Yes | Yes | No |
| Plus500* | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Note: 80% of CFD retail accounts lose money with this provider.
Our Expert’s Opinion about the Best Trading Apps for Newbies
We started with brief overviews of what the best UK trading apps for newbies offer. Now, let’s flesh everything out and explore what makes these platforms outstanding in deeper detail. Read everything thoroughly and use the information we’ve provided to find the best app for your unique needs and circumstances.
1. eToro – Overall Best Trading App for Beginners
The overall best trading app for beginners in the UK is eToro, a solution that’s provided by a company trusted by over 35 million people. It has one of the simplest interfaces and is incredibly easy to navigate. As a newbie, rest assured you won’t be overwhelmed or confused when using this app. Plus, you’ll find the instructions provided incredibly useful to your trading journey.
eToro’s copy and social trading features make it an unmatched giant in the trading universe. As a beginner who’s signed up with this app, you can copy the decisions of experienced traders and earn handsomely while still learning the ropes. You can also join the broker’s enormous social network and learn from gurus without paying a dime.
Education is another aspect that makes eToro the best app for beginners. The company offers a wealth of free learning materials, including webinars and tutorials. There’s also an online eToro academy where beginners can extend their knowledge base with free courses, guides, tutorials, etc. You won’t have a problem finding instruments to trade since this service provider offers over 7,000 options.
eToro
✔5000+ financial instruments
✔Cost-free deposits
Pros & Cons
Fees
Trading Assets
Pros
- Clean, beginner-friendly interface
- A wealth of educational resources
- Social and copy trading features
- 7,000+ financial instruments
- No hidden fees
- Investment products are available
Cons
- £10 monthly inactivity fee
- Withdrawals are applicable
If there’s anything that can eat away at your profit margins, it’s unnecessary costs. Thankfully, eToro fees UK are reasonable and pocket-friendly. We acquired a new account without paying a single cent, which was quite a relief. We also noticed that you can enjoy free deposits by using USD. That said, eToro supports many other currencies, including GBP, EUR, and RMB.
You will incur conversion fees if you use any currency other than USD. And if you use any currency that eToro doesn’t support, you must pay conversion fees to your payment provider. The exact conversion fees you may incur at any moment will depend on various factors, including your preferred currency and payment method.
Please note that eToro subjects each withdrawal request to a £5 fee. The platform uses this money to pay expenses arising from international money transfers. Most importantly, you can’t withdraw less than £30 from the eToro trading platform.
While depositing money into our account, we noticed that eToro has strict minimum deposit requirements. Britons using this platform have to deposit at least £100 the first time. Afterwards, you can fund your account with as little as £10, depending on your preferred payment method.
Commission-wise, eToro is very friendly to people who trade ETFs or invest in real stocks since the broker charges 0% for these assets. On the other hand, if you buy or sell crypto on this platform, expect to pay a 1% fee. CFD trading also attracts variable spreads depending on the involved instruments. For instance, the spreads for currencies and commodities start from 1 pip and 2 pips, respectively.
Not to forget, eToro charges a £10 monthly inactivity fee that kicks in after 12 months of dormancy.
2. AvaTrade – Best Trading App for Educational Resources
AvaTrade has an arsenal of educational resources specifically designed to help newbies learn to navigate the treacherous waters of online trading. You’ll find most of them on AvaAcademy, a free online platform you can access at any time of the day or night. It has hundreds of courses and lessons for beginners. It also offers videos, tutorials, and quizzes to newbies who are dedicated to mastering the art of trading.
Besides a free academy, AvaTrade offers live trading webinars for newbies and novices. Here, vetted experts share strategies and insights in real-time. With their advice, you are assured to make smarter decisions and avoid detrimental mistakes that can throttle your trading career. The company’s official site is also laden with tutorials tailored to help beginners like you start trading with as few hurdles as possible.
We also recommend AvaTrade to newbies since the app is easy to use and extremely beginner-friendly. Additionally, the broker has professional support representatives who understand trading and are always ready to help beginners start their journey on the right foot.
AvaTrade
✔Free deposits and withdrawals
✔Beginner-friendly user interface
Pros & Cons
Fees
Trading Assets
Pros
- A free academy with hundreds of materials
- Live webinars featuring experts are available
- Free demo account for practicing
- Beginner-friendly interface
- Quality support service
Cons
- Limited financial instruments
- High inactivity fee
Before going any further, note that there’s an AvaTrade minimum deposit requirement for UK traders. Fundamentally, this service provider requires Britons to fund their account with at least £100 while using supported payment methods like wire transfer, credit card, and e-payment. You should keep that in mind while funding your trading account.
That aside, while evaluating AvaTrade, we discovered that this broker has numerous fees and costs. For starters, it requires dormant account holders to pay a £50 inactivity fee. It kicks in after 3 successive months of dormancy, and the broker charges it after every 3 months.
Additionally, dormant AvaTrade accounts incur a £100 annual administration fee that takes effect after 12 months of inactivity. Not to forget, while trading with AvaTrade, you’ll have to cover an overnight premium whenever you keep a position open after the stipulated overnight funding time, which is 22:00 GMT.
Regarding spreads and commissions, AvaTrade is one of the most affordable brokers in the UK. With this platform, you will enjoy reasonable spreads starting from 0.13% while trading popular instruments like Tesla and Amazon shares are involved. AvaTrade doesn’t require traders to cover any commissions. The broker uses the Bid-Ask spread to compensate itself.
3. FP Markets – Best Trading App for Novices
If you are a beginner with basic trading knowledge, we recommend trading with FP Markets. This app offers a gateway to the most powerful trading platforms today, from MT4 and TradingView to cTrader and MT5. These platforms have essential tools that can immensely benefit your career and help you grow from a novice to a successful expert.
Trading with FP Markets is also a splendid idea since the broker has a vast collection of financial products. Everything you can dream of is available here, from over 70 popular currency pairs and 10,000+ shares to countless indices, metals, commodities, and more. Deposits are free here, so you can start your journey with fewer hassles and save money in the long run.
FP Markets keeps users’ spending to a bare minimum by offering tight spreads starting from 0 pips on Raw. With this account, you can also increase earnings from your trading escapades with leverage of up to 500:1. If you’re a Muslim, you can open an Islamic account with this broker and increase returns with zero swaps and overnight interest charges.
FP Markets
✔10,000+ tradeable financial instruments
✔Free deposits and withdrawals
Pros & Cons
Fees
Trading Assets
Pros
- Over 10,000 financial instruments
- Third-party trading platforms are available, including MT4/5
- Clean user interface
- Spreads as tight as 0 pips
- Free deposits and withdrawals
- No inactivity fee
Cons
- Higher spreads for Standard users
- Limited educational resources compared to its peers
Before going any further, note that the FP Markets minimum deposit is £100. You can’t fund your account with anything less than the mandated amount. Also, as a trader, expect to cover stipulated FP Markets fees and commissions. Let’s expound on that.
FP Markets has different trading and non-trading fees. However, the costs you will likely incur depend on where you are from. Take London as an example. If you’re from this city, you’ll incur a 0.10% commission per side while trading equity CFDs. You’ll also have to pay a £60 monthly fee if you use Iress Trader or ViewPoint.
But here’s the good news. You won’t incur additional costs while depositing or withdrawing money from your FP Markets trading account. Moreover, unlike many other brokers, this service provider doesn’t have inactivity fees for dormant accounts.
Please visit FP Market’s official site for a comprehensive overview of all fees and commissions.
4. Pepperstone – Best App for Low-Cost Tradingaders
Beginners searching for affordable, newbie-friendly trading apps shouldn’t overlook Pepperstone. Unlike many of its peers, this broker has no minimum deposit requirement. Sign up today and start trading with any amount you can afford. The other good thing is your trading capital, and subsequent returns won’t be reduced by charges since the app supports free deposits and withdrawals.
Ultra-low spreads also contribute to Pepperstone’s ability to cater to trading newbies looking to keep costs low. This broker’s tight spreads start from a mere 0 pips, and you can enjoy them while trading diverse instruments, including forex pairs like GBP/USD, AUD/USD, and EUR/USD. Note that Pepperstone offers 2 types of accounts: Razor and Standard. Open a Razor account if you’re looking for the lowest spreads.
You can use a virtual online trading account to test Pepperstone, then transition to a live one when you’re sure it’s the right decision. And don’t worry; this broker has no inactivity fees, so your account can stay dormant whenever circumstances require it without attracting any penalties.
Pepperstone
✔24/7 customer support
✔No inactivity fees
Pros & Cons
Fees
Trading Assets
Pros
- Free deposits and withdrawals
- Sharp spreads from 0 pips
- No inactivity fee
- Simple, intuitive interface
- Excellent customer support
- Supports TradingView, MT4, and other platforms
Cons
- Fewer financial instruments than its peers
- Limited learning materials
After evaluating Pepperstone, we opened a trading account for conducting extensive tests. The process was quick and easy.
But what impressed us most was the Pepperstone minimum deposit requirement. This platform has no minimum deposit, which makes it ideal for low-budget and high-budget traders. If you are a beginner, joining this broker is advisable since you can start with a low amount and increase your stakes with time. To top it off, Pepperstone supports free deposits and withdrawals. This broker allows you to use diverse payment methods for free, from Visa debit and credit cards to PayPal and domestic bank transfers.
When it comes to spreads and commissions, Pepperstone is very cost-friendly. You can open a Razor account with this broker and enjoy 20 commission-free trades. Pepperstone’s Standard accounts also have zero commissions. On the other hand, spreads start from as low as 0.0 pips for forex pairs like EUR/USD and 0.5 for commodities like XAUUSD.
Finally, unlike most of its peers, Pepperstone charges zero inactivity fees. However, any positions you hold overnight with this platform are subject to swap rates. Visit Pepperstone’s pricing page for a detailed account of how this broker calculated swap rates for different financial instruments.
5. Plus500 – Best Trading App for Ease of Use
Compared to other beginner-friendly alternatives, Plus500 is the easiest app to use. Its clean, minimalist interface doesn’t bombard new users with too much information at once. The interface has the right number of essential features and settings, which is ideal for beginners who are prone to getting overwhelmed easily.
Moreover, setting up a Plus500 is incredibly easy. The registration process is simple, and the broker’s support team is always ready to help whenever you encounter any challenges. Plus, you don’t have to provide all information and documents upfront while signing up. You can open your account with basic details, take a break, and then verify your account whenever you’re ready.
In addition, the Plus500 mobile app is intuitive and allows users to open/close positions, view key information, and track open positions with a few taps. It integrates seamlessly with the broker’s desktop platform, so you don’t have to worry about losing crucial data when switching from your mobile phone to a PC.
Note: 80% of CFD retail accounts lose money with this provider.
Plus500
✔User-friendly interface
✔Zero deposit and withdrawal fees
Pros & Cons
Fees
Trading Assets
Pros
- Clean, simplistic interface
- Good support service
- Straightforward registration process
- Supports virtual trading
- Easy trade execution
- Free trading academy
Cons
- Only CFDs are available
- £10 monthly inactivity fee
Brokers need to generate revenue and cover operating costs. That’s why many have fees and commissions. Sadly, high charges can undermine your profitability in the long run. That’s why looking for an affordable service provider is necessary.
With that in mind, we evaluated Plus500 fees UK. The process was easy since this broker values transparency. Our team was impressed by the fact that the trading platform doesn’t charge a dime for most services. First, opening an account is free. Deposits and withdrawals also attract zero charges. Furthermore, the broker offers free live CFD prices and dynamic charts. But note that the Plus500 minimum deposit UK is £100.
Plus500 primary source of compensation is the spread. While trading with this platform, you’ll have to cover the spread whenever you open a position. Your costs will depend on various factors, including your preferred instrument and current market conditions.
This broker also charges overnight funding and currency conversion fees. The former fee kicks in whenever you keep a position open overnight. On the other hand, you have to cover currency conversion fees whenever you interact with any currency besides your account’s base currency. Lastly, dormant Plus500 accounts attract a £10 monthly inactivity fee.
What Do You Need to Start Trading Online?
To start trading online, the first thing you need is adequate knowledge. Take the first step today by seeking knowledge from the most reputable academies, tutorials, guides, and other resources. Afterwards, sign up with one of the best trading apps UK while paying close attention to beginner-friendliness. Avoid complicated advanced apps while starting out.
Don’t forget that you need a funded account for live online trading. After signing up with a reputable service provider, top up your account with an amount that your budget allows. Trading is risky; stay safe and avoid dire financial issues by risking 15% or less of your income. Also, you should reduce risk exposure by sticking to a well-thought-out trading plan.
Tips for Beginners Using Trading Apps
Reputable apps strive to make financial trading easier for beginners. But their efforts won’t guarantee your success in this industry. If you approach trading without a clear plan, you will lose money. To help you avoid this fate, here are several tips for using trading apps:
Start with a demo account
Stick to a clear budget
Utilize risk management tools
Set realistic expectations
Start small
Don’t let your emotions get the best of you
No newbie should dive into live trading from the get-go. First, open a demo account and practice with it. Do that as often as possible until you gain critical skills and generate consistent profits. Also, take this opportunity to test and familiarize yourself with your chosen service provider before taking the final step and committing financially.
Most trading beginners lose money they can’t afford and end up quitting because they fail to set a well-defined budget. Don’t make the same mistake. Before risking money on online trading, budget appropriately. Additionally, identify the amount of money you are comfortable risking on each trade. Don’t trade with your entire capital at once to avoid heavy losses.
Learn risk management and how to apply different tools and strategies. And while trading with your favorite app, protect your capital with whatever’s at your disposal, including stop-loss and take-profit orders. Furthermore, avoid losing your capital all at once by sticking to risking around 1% of the available funds on each trade. Never go past the 5% mark.
Here’s one thing you should come to terms with from the get-go: online trading won’t make you an overnight millionaire. It’s very important to have realistic expectations since you will likely take unnecessary risks, lose money, and lose heart prematurely without them. Learn to embrace both wins and losses as a part of the game.
Many beginners who quit prematurely did so after risking too much too soon for many reasons, including greed and unrealistic expectations. Don’t follow suit. To enjoy a long, fruitful trading career, start small and master your craft. You can always go big once you’ve transitioned to a pro and have the knowledge and skills required to protect your capital.
Emotional trading has brought many newbies to their knees. Before risking money, learn to control your emotions when you’re winning and losing. That is important since fear or anxiety resulting from losing trades can catalyze impulsive decisions and cause more losses. On the other hand, overconfidence from winning can increase your risk appetite and expose you to significant financial losses.
How to Open an Account with a Trading App?
Choosing one of the best trading apps in the UK is just the beginning of your trading career. You need to open an account to dive into the markets and make some cash. Here are the steps for opening an account with one of the recommended trading apps:
Step 1: Visit the official site
Step 2: Download the app
Step 3: Open a new account
Step 4: Fund your account
Step 5: Trade
We strongly urge you to visit each service provider’s official site before using its app. There, you can check all offerings and read the terms before committing. Never sign up with a broker before reading and accepting its terms and conditions.
Search for the right app for your device while on the site. When you click the download link, most brokers will direct you to Google Play or the App Store. Get your preferred trading app from the right official site and install it. Don’t download apps from unofficial third-party sites to avoid malware, viruses, and other issues.
Open the app and register. Most apps will ask you to open a new account with your email address and set a strong password. When asked to complete verification, provide the required details and documents. That includes your name and address, as well as a copy of a utility bill and official ID.
Use a supported payment method to send money to your trading account. Remember to remain within your budget and top up your account with money you can afford to lose. Also, check and respect your chosen service provider’s minimum deposit requirements.
Use 5% or less of your account to trade the markets. Most apps will guide you through the entire process, so it should be relatively easy. Remember to minimize your odds of incurring significant losses with risk management tools like stop-loss.
Conclusion
We’ve helped you kickstart your trading career by introducing you to the best UK trading apps for beginners. But that’s just the beginning. You must be disciplined and knowledgeable to transition from a beginner to a pro who earns consistent profits. Moreover, you must manage your capital wisely and avoid making impulsive decisions at all costs.
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