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Thadeus Geodfrey and finance are inseparable. He is a versatile expert with a strong cryptocurrency and market analysis background. Thadeus provides a unique blend of technical and strategic insights as a seasoned financial writer. His overarching probe and attention to detail inspire the InvestingGuide community. He guides you through the continuously evolving market landscape to build solid investments or make successful trades.
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Finding the right platform is mandatory, whether it’s your first time dealing with shares or you simply need to upgrade to a better service provider. I know this is a momentous task that can be pretty intimidating, more so since hundreds of share-dealing platforms are available in the UK. My goal is to simplify everything and make your life easier.
I spent weeks testing and evaluating different service providers. I rated each brand based on crucial aspects such as regulation, security, and reputation. After vetting every plausible option, I picked 5 with the highest ratings. Find out everything about them below.
List of the Best Share Trading Accounts
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1
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{etoroCFDrisk}% of retail investor accounts lose money when trading CFDs with this provider.
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2
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Risk Warning66% of retail investor accounts lose money when trading CFDs with this provider.
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3
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Risk Warning75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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4
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Risk Warning76% of retail investor accounts lose money when trading CFDs with OANDA TMS Brokers S.A. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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5
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Risk Warning86% of retail investor accounts lose money when trading on margin with this provider. You should consider whether you understand how margin trading works and whether you can afford to take the high risk of losing your money.
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In This Guide
Important Factors to Review and Assess
As someone who’s spent many years testing and assessing share-dealing apps, I know that the biggest mistake an investor can make is to choose the flashiest platform. You should never be influenced by enticing advertising slogans and promises alone. Spend as much time as necessary evaluating what truly matters.
The comparison table below will introduce you to essential factors you should always evaluate when choosing the best share-dealing account. I’ve included crucial aspects I always consider while assessing different service providers, from licensing to money insurance.
| Best Share Dealing Accounts | Licence & Regulation | Minimum Deposit | Commission and Spreads | Support Service | Software | Payment Method | Demo Account | Money Insurance |
|---|---|---|---|---|---|---|---|---|
| eToro | FCA, ASIC, MAS, CySEC, MFSA, SEC | £50 | From £1 | 24/5 | CopyTrader, Multi-Asset Trading Platform, Investing Platform, eToro Mobile App | Credit/debit cards, Bank transfer, Neteller, Skrill, PayPal, online banking | Yes | Yes |
| Saxo | FCA, ASIC, DFSA, MAS, JFSA, SFC, FINMA | £0 | From 0.03% | 24/5 | SAXO Investors, SaxoTraderGO, SaxoTraderPRO | Bank wire transfer, credit/debit cards | Yes | Yes |
| XTB | MiFID, FSCA, ASIC, CySEC, FSA, FCA | £0 | From 0% | 24/5 | xStation 5, xStation Mobile | Neteller, Credit/debit cards, Bank transfer, Skrill, PayPal | Yes | Yes |
| OANDA | FCA, CIRO, CFTC, MAS, ASIC | £0 | From 0.6 pips | 24/5 | OANDA Mobile, OANDA Web, MT4, MT5, TradingView | Credit/debit cards, BPay, Online banking, Bank wire transfer | Yes | Yes |
| Pepperstone | FCA, ASIC, DFSA, CySEC, SCB, BaFin | £0 | From 0.07% | 24/7 | TradingView, MT4, MT5, cTrader, Pepperstone Trading Platform, Social trading | Visa, Mastercard, Bank transfer, Neteller, Skrill, PayPal | Yes | Yes |
Mini-Reviews
Investors have different needs and preferences – as an expert reviewer and investor, I know that very well. That is why I didn’t simply recommend one service provider to everyone. I looked for the best UK share dealing accounts for different types of investors, from novices to high-net-worth individuals.
Here are the mini-reviews for 5 platforms I found worth recommending. I’ve highlighted what makes them outstanding as well as some of their most prominent shortcomings.
1. eToro – Best Share Dealing Account for Novices
eToro makes investing less intimidating for beginners and novices. The platform’s interface is super clean, intuitive, and simple. I found the “Investing” option within less than 10 seconds. I clicked it and saw a simple dropdown with “Stocks” at the top. This option directed me to eToro’s stock investing page, where I found most of my favourite company stocks and shares.
One of the upsides of dealing shares with eToro is that you have access to one of the largest asset collections in the UK. I discovered over 6,000 stocks from different exchanges on the platform. They include the most popular products on the London Stock Exchange, like Rolls-Royce, Samsung, and Shell PLC. Stocks listed on NASDAQ, Frankfurt, Madrid, and other exchanges are also offered on eToro.
I also discovered an exceptional tool that novices can leverage: CopyTrader. This is a solution that allows newbies to invest like seasoned pros. It simply gives people who lack sufficient knowledge and experience the opportunity to copy best-performing traders and investors on eToro. The icing on the cake is that CopyTrader has zero additional charges, meaning it’s free to use.
eToro
✔5000+ financial instruments
✔Cost-free deposits
Pros & Cons
Fees
Trading Assets
Pros
- Low minimum deposit requirement
- 6,000+ stocks and shares
- Investors can buy fractional shares from £10
- World-class educational materials
- Investors can diversify with crypto, ETFs, and CFDs
- Supports copy trading and investing
Cons
- £10 monthly inactivity fee
- Limited tools for advanced investors
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. Saxo – Best Share Dealing Account for High-Net-Worth Individuals
UK investors who prioritise a premium experience should check out Saxo. I recommend this share-dealing platform because it offers over 23,000 stocks from a wide variety of global markets, including the UK, Europe, and Africa. With a Saxo account, you can deal shares on diverse exchanges, from the London Stock Exchange, NASDAQ, and NYSE MKT to the Toronto Stock Exchange and the TSX Venture Exchange.
Plus, Saxo has multiple premier platforms that are ideal for high-net-worth individuals. The one that impressed me the most is SaxoInvestor, which you can access from your mobile phone or PC. Based on my experience, this platform makes investing in stocks incredibly easy. If you want a platform that goes above and beyond, you can also use the power-packed SaxoTraderPro, designed for professionals.
Saxo’s asset collection is miles ahead of most average platforms’ offerings. Besides a vast number of stocks, the site has 7,400+ ETFs, 5,200+ bonds, and 6,000+ funds. Not to forget, Saxo doesn’t offer your average investment accounts exclusively. You can also open an ISA, SIPP, or trust account on the official site. This is the most well-rounded of all the share-dealing platforms I came across.
Saxo
✔No minimum deposit requirement
✔Low commissions for all asset classes
Pros & Cons
Fees
Trading Assets
Pros
- No minimum deposit requirement
- 23,000+ stocks for avid dealers
- Dealers can also invest in funds, ETFs, and bonds
- ISA, SIPP, and trust accounts available
- Unique offerings for individuals, professionals, and institutions
- Zero inactivity fees
Cons
- Higher commissions on UK stocks
- Up to 0.15% custody fee for holding stocks and other assets
Saxo is one of the brokers in the UK with transparent fee structures. While analysing its trading and no-trading charges, we noted that the broker has no hidden charges. This makes it easier for users to plan and budget for their activities without worrying about extra charges once fully invested.
Additionally, we find Saxo affordable since it charges low commissions, starting at $1 on US stocks, ETFs, and futures. For traders interested in options and government bonds, Saxo charges low fees, starting at $0.75 and $0.05%, respectively.
When it comes to Saxo’s minimum deposit requirement, the broker has none. This means that any trader, whether new or budget-conscious, can create a trading account with the broker and start exploring the financial space. However, expect to incur a currency conversion fee, especially when you trade using a different currency from your account’s base denomination. The good news is this fee doesn’t apply to marginal collateral and can never exceed +/- 0.25%.
Financing charges for positions left overnight are also applicable at Saxo. For investors, expect to incur annual custody fees if your account holds stock, bond, or ETF/ETC positions. The exact fee will vary depending on your account. Our analysis showed that you will pay up to 0.15% for the classic account, 0.12% for the platinum account, and 0.09% for VIP accounts.
Lastly, Saxo charges fees for additional services besides those mentioned above. For instance, it imposes a $50 fee for online report requests. Plus, transactions are free, and there is no inactivity fee should your account stay idle for some time.
3. XTB – Best Account for Balanced Long-Term Investing and Trading
XTB is one of the solid all-rounders I encountered. This share-dealing UK platform has over 3,400 stocks from 14 markets that you can invest in today. Many of the most popular products on the London Stock Exchange are accessible to XTB users, including 888 Holding PLC, AstraZeneca PLC, and Barclays PLC shares. While investing in such assets, you can diversify with stocks from Belgium, France, the Netherlands, and many other regions.
I also discovered that XTB allows users to buy ETFs for as little as £10. There are 1,400+ ETFs on this platform, from EUNL.DE, SXR8.DE, and 10AJ.DE to ASSI.FR, BOTZ.UK, and CBU7.UK. The best part is that, while investing in ETFs with XTB, you get to enjoy up to 0% commission on monthly turnovers of up to £100,000.
XTB combines strong investing offerings with excellent trading features. Investors using this platform can also trade CFDs on 70+ global currency pairs, indices, and commodities. Since this broker has a simple registration process and no strict initial funding requirement, I had an easy time setting up my new account. I was also impressed by the Auto Invest function that allows users to automatically top up their accounts and invest in pre-selected ETFs.
XTB
✔5,700+ financial instruments
✔No minimum deposit requirement
Pros & Cons
Fees
Trading Assets
Pros
- No strict initial funding required
- 3,400+ stocks for avid share dealers
- Supports ETF investing
- Dealers can also trade forex pairs and CFDs
- Users can automate deposits and ETF investing
- Tax-free ISAs available
Cons
- £10 monthly inactivity fee
- Only withdrawals above £50 are free
XTB is a cost-effective trading platform. We used a live account to assess its fees and commissions. The first applaudable aspect we noticed is setting up an account with this broker is quick and easy. Furthermore, there’s no set XTB minimum deposit requirement, and the platform supports free transactions. When it comes to withdrawals, transactions above £50 are free.
That aside, we noticed various mandates on the XTB UK trading platform during our exploration. For starters, this entity has a £10 minimum order requirement for shares from companies like the Associated British Food PLC. Additionally, it requires users to cover a 0.5% conversion fee while trading with anything besides the base currency.
Not to forget, XTB charges different spreads for different instruments and requires traders who hold open positions to cover swap costs.
4. OANDA – Best Share Dealing Account for API Access
If you’re searching for a platform that lets its users automate share trading, I highly recommend OANDA. This broker has powerful APIs that can help you create robust strategies for automated trading. I was especially impressed by the OANDA REST API, designed to optimise order placement, modification, and closure. Not to forget, this service provider has provided an extensive guide that will help you get started seamlessly.
API access aside, OANDA has a competitive range of financial products. You can trade over 1,500 shares of CFDS on the platform and diversify with CFDs on forex pairs, metals, and indices. This broker’s other positive attribute is its platform selection. I noticed a bunch of trading platforms while assessing the trading site, including long-term favourites such as MT4, MT5, and TradingView.
I was also impressed by the tools that OANDA users have access to. Almost everything an avid trader can wish for is available on this platform, from advanced charts and economic relays to Dow Jones FX Select and robust technical analysis systems. Lastly, besides traditional trading, OANDA supports spread betting, whose crowning feature is tax-free profits.
OANDA
✔No minimum deposit requirement
✔Excellent customer support service
Pros & Cons
Fees
Trading Assets
Pros
- API for automated trading and other functions
- No set minimum initial deposit requirement
- Users have access to MT4, MT5, and TradingView
- Caters to both Standard and Professional traders
- Offers tax-free profits from spread betting
Cons
- £10 monthly inactivity fee
- Only FX pairs and CFDs are available
Opening an OANDA trading account is free, and you only need your personal details to set it up. From our experience, there is no minimum deposit requirement. We believe this attracts even low-budget traders as they can easily dive into financial market investment with any amount they can afford.
We also noticed that the OANDA broker doesn’t charge fees for deposits. This is whether you transact using credit/debit cards, e-wallets, or bank transfers. Plus, users can make one free withdrawal every month using their credit/debit cards. Subsequent withdrawals attract a fee, which varies depending on the currency you are transacting with. Bank transfers and e-wallet withdrawals also attract a fee, which from our analysis, is higher than credit/debit card withdrawals.
When it comes to inactivity fees, OANDA charges £10 monthly should your account remain dormant for over 12 months. Financing charges also apply for positions left overnight. Overall, we can confidently state that OANDA has no hidden charges. It allows users to easily plan and budget for their activities without worrying about future surprises.
5. Pepperstone – Best for Investors Who Want to Trade Share CFDs
Pepperstone is tailored for individuals engaged in the fast-paced world of CFD trading. With a Pepperstone account, you don’t need to buy and sell actual company shares. You can profit from simply speculating on the price movements of these assets. While doing so, you’ll have the opportunity to increase potential returns with up to 30:1 leverage if you’re a retail trader or up to 500:1 if you meet the requirements of opening a professional account.
In addition to sharing CFDs, Pepperstone has CFDS on FX pairs, indices, commodities, and other financial instruments. Share CFDs come with low commissions starting from 0.07% per side. And while trading your favourite shares, you can diversify with products like forex pairs and enjoy super-tight spreads as low as 0.0 pips. Note that the lowest spreads, which start from 0 pips, are on Razor. Standard account users’ spreads are a bit higher, from 1.0 pips.
Pepperstone’s variety of platforms is another factor that makes this service provider perfect for CFD share-dealing enthusiasts. First on the list is the Pepperstone proprietary platform, a simple, intuitive platform you can access from your mobile phone or desktop computer. The other options I discovered while trading with Pepperstone include MT4, MT5, cTrader, and TradingView.
Pepperstone
✔24/7 customer support
✔No inactivity fees
Pros & Cons
Fees
Trading Assets
Pros
- No set minimum deposit requirement
- Low commissions and spreads
- Flexible leverage options for retail and professional traders
- MT4, MT4, cTrader, and TradingView are hosted
- Supports spread betting
- £0 inactivity fee for dormant accounts
Cons
- Only forex pairs and CFDs are available
- Limited tools for advanced traders
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.
What Should You Know Before Starting
You should have a clear idea of what you’re getting yourself into before signing up with what you consider to be the best share-dealing account in the UK. First on the list is tax mandates, but I’ve given this topic its own section since it’s more sensitive than its counterparts. The other crucial aspects include:
Regulation and safety are a must-have
Investing is Risky
Your investment goals matter
You don’t need a fortune to be an investor
Share dealing accounts have KYC
To ensure your money and data are safe, prioritise regulation and safety. Before signing up, check if every platform is regulated by respected overseers like the FCA, ASIC, and CySEC. Also, evaluate the systems and solutions that your chosen broker uses to optimise safety and security, from SSL encryption to segregated accounts and FSCS protection.
Downplaying regulation and safety is unwise and can lead to several unfortunate events. For starters, if you ignore regulatory status, you might sign up with a shoddy platform that will vanish with your funds or sell your data to unsavoury third parties. If that happens, your odds of recouping your investment will be next to none since the FSCS never covers questionable service providers.
Investing is risky. You must have heard that more than once, whether at the end of a broker ad or in casual financial conversations. It’s not a gimmick or a baseless warning- it’s a grounded fact. Over 70% of all DIY investors lose their hard-earned money. Why? The reasons are innumerable, from insufficient understanding of the markets to emotional investing.
However, the alpha of all losses is that the markets are unpredictable. External forces like geopolitical events and economics can cause sudden shifts in stock prices and other markets. Accept the fact that things won’t always go your way, and losses are a part of the game.
Before investing, define your goals. If you fail to do that, you’ll lack something to aim for and will most likely make random investment decisions that won’t get you anywhere. You’ll also be unable to gauge your success and tweak your strategies accordingly.
Your investment goals should be specific, measurable, achievable, relevant, and time-bound (SMART). For example, you can set a goal such as investing £500 per month for 5 years and building a £500 shares portfolio that will generate 6% annual returns. That’s just an example. The key point is that you need SMART investment goals to succeed.
Investing is more accessible now than ever. In the past, UK residents needed thousands of pounds to join the investing world. But in the modern age, many low-cost share dealing platforms offer fractional shares, which you can buy for as little as £10.
That said, before investing any amount in shares, there are several things you have to do. First, determine whether you’ve saved enough money to cover at least 3 months of living expenses, especially if you plan to trade full-time. That is the only way to avoid issues like forced selling and debt accumulation.
The FCA has strict requirements that every broker must adhere to, including share dealing service providers. For starters, these entities are required to verify their customers’ identity and address through KYC (Know Your Customer).
Since KYC is mandatory in the UK, you should expect to undergo rigorous verification while signing up with the best share trading accounts. But don’t be scared – it’s pretty straightforward. You just have to provide documents proving who you are and where you’re from, like a picture of your ID and a copy of a recent bank statement.
Tax Information for UK Traders
Learning about tax information for UK traders might seem the least exciting part of share dealing, but it’s crucial. Ignorance where this is involved can lead to numerous nasty surprises down the line, including enormous unexpected tax bills and hefty penalties.
The first thing you should know is that you will likely be required to pay taxes while dealing with shares. If you buy and hold dividend-paying shares, you’ll have to pay either 8.75%, 33.75%, or 39.35% dividend tax on dividend income exceeding £500, 2025/2026’s personal allowance. Your tax rate will depend on your income tax band.
If you sell your shares at some point in the future, you’ll be required to pay Capital Gains tax on gains exceeding £3,000, the annual CGT allowance for the 2025/2026 tax year. That applies to shares in accounts other than tax-exempt ISAs and PEPs. Visit the GOV.UK website for more information.
Final Thoughts
Before signing with any platform, I urge you to compare share dealing accounts, as many as possible. Go through everything associated with each promising service provider, from minimum deposit requirements and charges to support and trading tools. If you’re a newbie, prioritise access to a beginner-friendly user interface and sufficient educational resources. Lastly, you should never interact with service providers not regulated by notable authorities like the FCA, SEC, and ASIC.
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