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.
Fact checked
Advertising Disclosure
We may receive compensation from our partners for placement of their products or services, which helps to maintain our site. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn’t influence our assessment of those products.
Newbies need beginner-friendly trading platforms. If you are a novice, signing up with a platform that hasn’t been optimised for beginners will only expose you to additional headaches. While choosing the best trading platforms for beginners, you must consider multiple factors, including the quality of educational resources and support services. Most importantly, you must optimise your security and safety by looking for an FCA-regulated service provider. We explored the trading platforms in the UK and selected 5 that are better suited for beginners. While choosing them, our experts considered vital elements like licensing as well as reviews posted on the App Store, Google Play, and Trustpilot.
Are you new to trading? You need to find the best trading platform for beginners UK. Why? It will give you access to vital aspects that will help you dive in and turn trading into a profitable venture. That includes a beginner-friendly interface, pocket-friendly fees, and top-tier learning materials.
Many trading platforms that cater to beginners are available today, which makes picking the best an uphill task. But don’t fret; we have your back. Our experts researched, analysed, and compared the service providers that accept Brits. After many hours of hard work, we picked 5 trading platforms that are ideal for beginners based on various factors, including regulatory status, educational materials, and support services.
List of the Best Trading Platforms for Beginners
- AvaTrade – Overall Best Trading Platform for Beginners UK
- eToro – Best Beginner-Friendly Trading Platform for Investment Enthusiasts in the UK
- FxPro – Best Trading Platform for Novice Forex Traders in the UK
- FP Markets – Best Beginner-Friendly Platform for Trading CFDs in the UK
- Pepperstone – Best UK Trading Platform for Cost-Conscious Beginners
In This Guide
UK Trading Platforms for Beginners: Comparison Table
Many trading platforms available in the UK claim to be tailored for beginners. But we’ve been in this industry long enough to know better. For starters, we know that fraudulent entities run a considerable of UK service providers that welcome novices with open hands. Such companies are only after your money, nothing else. And some of the “beginner-friendly” platforms available today are overly complicated and 100% unsuitable for newbies.
With that in mind, our experts evaluated countless service providers that claim to be user-friendly. We spent many hours conducting extensive research, assessing available brands, and weeding out malicious and unreliable entities. Finally, after toiling incessantly, our team identified a handful of the best trading platforms for beginners UK.
At this point, you may be wondering how we selected our top providers. Simply put, our experts focused on numerous factors, including those highlighted in the comparison table below.
| Best Trading Platform for Beginners | Licence & Regulation | Support Service | Software | Payment Method | Demo Account |
|---|---|---|---|---|---|
| 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 |
| 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 |
| FxPro | FCA, FMA, CySEC, FSCA, SCB | 24/5 | FxPro Mobile App, MT4, MT5, cTrader, FxPro WebTrader | Credit/debit cards, Bank wire transfers, Neteller, Skrill, PayPal | 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 | FCA, MAS, ASIC, FSCA, DFSA, CySEC, CMA, SCB, BaFin | 24/5 | TradingView, MT4, MT5, cTrader, Pepperstone Trading Platform, Social trading | Visa, Mastercard, Bank transfer, Neteller, Skrill, PayPal | Yes |
Platforms Short Overview
As a beginner, you may not know that brokers charge different fees, from account maintenance and inactivity to deposit and withdrawal fees. And that’s just the tip of the iceberg. Some service providers even have hidden fees that often catch traders by surprise. Unfortunately, too many expenses and high costs erode profits. So, avoiding them is a must. You need to find a trading platform with friendly, justifiable charges.
Also, you must factor in available assets while evaluating if a specific trading is a good fit. In fact, before you start searching for the best trading platform UK for beginners, you need to familiarise yourself with the most popular financial products and pick a few that align with your needs and goals. Then, find a service provider that offers your favourite instruments.
Fees
| Best Trading Platform for Beginners | Minimum Deposit Requirement | Commission/ Spreads | Deposits/ Withdrawals | Inactivity Fee |
|---|---|---|---|---|
| AvaTrade | £100 | From 0.13 pips | Free | £50 after every 3 consecutive months of inactivity |
| eToro | £100 | From 0% | £5 withdrawal fee | £10 monthly |
| FxPro | £100 | From £3.50 per lot | Free | £10 monthly |
| FP Markets | £100 | From 0.0 pips | Free | £0 |
| Pepperstone | £0 | From 0.0 pips | Free | £0 |
Assets
| Best Trading Platform for Beginners | Stocks | Forex | Crypto | Commodities | Indices | ETFs | Options |
|---|---|---|---|---|---|---|---|
| AvaTrade | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| eToro | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| FxPro | Yes | Yes | Yes | Yes | Yes | Yes | No |
| FP Markets | Yes | Yes | Yes | Yes | Yes | Yes | No |
| Pepperstone | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Our Expert’s Opinion about the Best Trading Platforms for Newbies
We hold the platforms highlighted here in high regard for many reasons. First and foremost, they are regulated by the FCA and other reputable authorities. Additionally, these platforms focus on making it easier for newbies to start trading and build a profitable career.
That said, allow us to point out one crucial aspect. We conducted extensive research and evaluation before compiling this guide, so our opinions are grounded on factual information and first-hand experience. We are here to inform you, not to oversell any service providers. That is why we’ve also included a list of pros and cons in each mini-review.
Now, let’s review the best trading platform for Brits who are just starting out.
1. AvaTrade – Overall Best Trading Platform for Beginners UK
After evaluating numerous service providers, we’ve ranked AvaTrade as the overall best trading platform for beginners UK. We hold this platform in high regard for numerous reasons. First, it gives users access to the infamous Ava Academy. This world-class educational platform offers over 200 lessons and quizzes related to diverse financial instruments, from forex and crypto to commodities and stock trading.
Besides the materials in Ava Academy, AvaTrade offers countless guides and tutorials. Moreover, this service provider allows newbies to gauge their understanding and test their skills with a free demo account. With an AvaTrade demo account, you can practice and test yourself without risking your hard-earned cash since the account comes with £100,000 virtual money. Moreover, although an AvaTrade demo account lasts 21 days, users can request an extension at no additional cost.
Finally, AvaTrade is our top pick because the platform is easy to navigate and use. It also hosts several outstanding trading solutions, including MT4 and MT5.
AvaTrade
✔Free deposits and withdrawals
✔Beginner-friendly user interface
Pros & Cons
Fees
Trading Assets
Pros
- Top-quality courses, lessons, and guides
- User-friendly interface design ideal for beginners
- Prompt customer support service
- Top-tier trading software like MT4 and MT5
- Free deposits and withdrawals
Cons
- High inactivity fees
- Limited financial products compared to its peers
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.
2. eToro – Best Beginner-Friendly Trading Platform for Investment Enthusiasts in the UK
As a trader, you must diversify your portfolio to reduce risk exposure. One of the best ways to do that is by investing in financial products like stocks. They will help you mitigate potential losses and facilitate your journey towards long-term wealth accumulation. With that in mind, eToro is the best platform for traders who want to diversify through investing.
Let’s start with the trading side of things. With an eToro account, you can trade over 5,000 assets. For starters, you can trade popular cryptocurrencies like Bitcoin, Ethereum, and Solana. Additionally, the eToro platform gives you access to countless CFDs on commodities, indices, stocks, and other popular assets.
Now, while trading on eToro, you can diversify your portfolio by investing in stocks and crypto. You can buy diverse stocks from popular companies on this platform, including BMW, Nintendo, and Tesla. Moreover, you can acquire, hold, and sell crypto assets in high demand on eToro today, like Dogecoin, Bitcoin, and XRP.
eToro
✔5000+ financial instruments
✔Cost-free deposits
Pros & Cons
Fees
Trading Assets
Pros
- eToro is a publicly-trader, infamous company
- Offers an academy with top-tier learning materials
- Beginners can invest in stocks, ETFs, and crypto
- Zero commission for stock and ETF trades
- Copy trading and investing features are available
- Users have access to over 5,000 financial products
Cons
- Dormant accounts incur a £10 monthly inactivity fee
- Each withdrawal request attracts a £5 fee
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.
3. FxPro – Best Trading Platform for Novice Forex Traders in the UK
Forex trading is incredibly popular in the UK. Thousands are making a killing in this venture, and so can you. With that in mind, we highly encourage you to consider trading forex with FxPro, especially if you are a beginner. Why? For starters, this FCA-regulated trading platform has a simple but stylish user interface that facilitates seamless navigation.
Additionally, FxPro gives novices access to over 70 popular currency pairs, from GBP/JPY and EUR/GBP to AUD/CAD, USD/JPY, and USD/CAD. These pairs offer fast order execution and tight spreads. Moreover, this platform has diverse, powerful trading software, including MT4, MT5, and cTrader, that forex traders can use to take their experiences to the next level.
The products available on FxPro aren’t limited to currency pairs. This platform also allows forex traders to diversify with shares, indices, futures, and other financial instruments. Besides, FxPro users can spread bet on different asset categories, including spot metals, FX pairs, and indices.
FxPro
✔User-friendly platform
✔Low minimum deposit requirement for UK clients
Pros & Cons
Fees
Trading Assets
Pros
- Well-organizes, easy-to-navigate user interface
- Offers over 70 popular currency pairs
- Hosts third-party platforms like cTrader, MT4, and MT5
- Traders can enjoy fixed spreads on major pairs like GBP/JPY and GBP/USD
- Supports free deposits and withdrawals
Cons
- Limited educational materials and resources
- Primarily focuses on CFD trading
From our broker analysis and comparisons, we find FxPro to be one of the most affordable brokers for Ul clients. For starters, this broker has a free account opening procedure that takes minutes to complete. Moreover, it has a £1000 minimum deposit requirement, though you can deposit as little as £100. And when it comes to transaction costs, FxPro doesn’t impose any. We believe this makes it suitable for newbies who are sceptical about spending a lot of money and low-budget traders.
When it comes to trading charges, FxPro imposes low fees compared to other brokerage firms. For instance, forex trading attracts low fees, starting from 0.0 pips on major currency pairs. However, expect to incur additional costs for positions left overnight. There is also an inactivity fee of £10 monthly should your account remain dormant for over six months.
4. FP Markets – Best Beginner-Friendly Platform for Trading CFDs in the UK
Novices searching for a good CFD trading platform in the UK should check out FP Markets. We firmly root for this service provider since it offers over 10,000 CFD products on forex pairs, commodities, shares, indices, and more. The available instruments come with some of the tightest spreads and commissions. For instance, you can open a Raw ECN account with FP Markets today, trade forex pairs, and enjoy low spreads starting from 0.0 pips.
FP Markets is also an outstanding trading platform that allows users to harness the power of different trading systems, including MT4, MT5, cTrader, and TradingView. Furthermore, this broker has a powerful proprietary WebTrader platform and exquisitely designed mobile apps for trading on the go.
When it comes to education, FP Markets has you covered. The platform has everything from trading courses and webinars to podcasts, video tutorials, and eBooks. Before you acquire sufficient knowledge and formidable skills, you can use FP Market’s copy trading feature to follow and mirror the most successful traders on the platform.
FP Markets
✔10,000+ tradeable financial instruments
✔Free deposits and withdrawals
Pros & Cons
Fees
Trading Assets
Pros
- Over 10,000 tradable products are available
- Hosts outstanding platforms like MT4, MT5, and TradingView
- Tight commissions and spreads starting from 0.0 pips
- Top-notch educational materials
- Beginners can maximise returns by copying successful traders
- Excellent customer support is available 24/7
- No inactivity fee
Cons
- Focuses primarily on CFD trading
- Iress has a £1,000 minimum deposit requirement
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.
5. Pepperstone – Best UK Trading Platform for Cost-Conscious Beginners
You may have little money to spend on online trading as a beginner. But don’t worry; there’s a trading platform that will still help you shoot for the stars: Pepperstone. It has zero minimum deposit requirements, so you can start your trading career with whatever your budget can support. We highly encourage you to start with a small capital, test yourself, and increase your investment after generating consistent profits for some time. Don’t go big from the get-go since you may incur hefty losses.
In addition, Pepperstone has zero deposit and withdrawal fees. That means you won’t incur additional expenses when funding your account or withdrawing proceeds. To make things better, this broker has zero inactivity fees for dormant accounts.
We can’t leave out FP Market’s impressive range of trading platforms. Different software and systems are available here, from TradingView and cTrader to MetaTrader 4 and MetaTrader 5. In addition, this broker supports spread betting and offers traders tight spreads starting from 0.0 pips.
Pepperstone
✔24/7 customer support
✔No inactivity fees
Pros & Cons
Fees
Trading Assets
Pros
- No minimum deposit requirement
- Sharp spreads starting from 0.0 pips
- Free deposits and withdrawals
- Zero inactivity fees
- Hosts TradingView, cTrader, MT4, and MT5
Cons
- Limited learning materials
- Fewer financial products than its peers
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 are Beginner-Friendly Platforms?
Beginner-friendly platforms have been optimised to make navigation easy for newbies. They are primarily designed for individuals who are new to trading and investing. These platforms have numerous outstanding qualities, from a user-friendly interface and quality educational resources to lower minimum deposits and support for demo trading.
The best beginner-friendly trading platforms in the UK are licensed and regulated by the FCA. As such, they obey strict mandates like segregating client funds and implementing industry-standard security measures like SSL encryption. To avoid exposing yourself to cybercrime and the associated issues, from data theft to hefty financial losses, avoid trading with service providers that haven’t been authorised or regulated by the Financial Conduct Authority.
Find out more about the best stock trading apps UK in our other article.
How Do They Work?
Beginner-friendly trading platforms have one primary objective: to provide newbies with everything they need to start trading. That includes an intuitive platform interface, outstanding educational resources, and quality support services. The best beginner-friendly trading platforms UK allow users to trade from their browsers or using dedicated apps.
How to Choose Trading Platform for Beginners UK
We know that many service providers are baying for your attention. And all of them promise juicy boons like the lowest spreads and cost-free transactions. But don’t their promises at face value. Some of the available service providers have one goal: getting as much money as possible from you. They aren’t committed to providing the best services or helping you achieve your trading goals.
Therefore, you should carefully choose the best beginner-friendly platform to trade with. Use the following factors to make the best decisions while doing so:
Regulatory Status
Ease of Use
Educational Resources
Customer Support
Fees
Online Reputation
First, check if your preferred beginner-friendly trading platform is authorised by the FCA and regulated by other respected organisations, such as CySEC, ASIC, and the FCSA. That is the best way to ensure you are trading with a service provider that adheres to strict ethical and legal mandates.
Since you’re a beginner, trading with an easy-to-use platform is crucial. You should look for a service provider with a clean interface that’s easy to navigate. Before gaining experience and becoming an expert trader, avoid platforms with complex features or a cluttered interface since such aspects can overwhelm you and increase the learning curve.
Sufficient education is a beginner’s holy grail. You should dive into live trading before acquiring essential knowledge because you will fail monumentally. And since education is crucial, you should look for a trading platform that offers quality resources and materials, from free courses and lessons to guides and video tutorials.
Prioritise trading with a beginner-friendly platform with good customer support. That will come in handy when you need professional guidance and assistance. It’s also the key to ensuring any issues you encounter along the way are resolved in good time before escalating and causing massive financial losses.
You’ve joined the trading universe to make profits, right? Look for a platform with friendly fees. That is advisable since these elements can reduce the capital at your disposal as well as potential returns.
We always encourage our readers to check every platform’s online ratings and reviews, and our experts do the same when evaluating service providers. By reading testimonials and customer feedback, you can get a sense of how other people feel about the platform in context and their experiences trading with it.
How to Sign up for an Account with Trading Platform for Beginners UK
Registering a trading account may sound challenging, more so to a beginner like yourself. And why wouldn’t it when experienced traders keep throwing around phrases like “you need to complete KYC verification”? But don’t worry. It may sound complicated, but it’s note. You just need to follow these steps:
Step 1: Visit the broker’s official site
Step 2: Register
Step 3: Complete KYC
Step 4: Fund your account
Step 5: Trade
Have you pinpointed a fitting service provider? Go to its official website and review everything. Take your time and check all crucial facets, from supported financial instruments to charged fees. Furthermore, you should read and understand the company’s terms and policies.
After conducting a thorough assessment and ascertaining everything is to your satisfaction, start the registration process. There’s a form you’ll have to fill out. Do it and ensure you share accurate and valid information, from your name to address. Equally crucial, set a password that is unique and strong enough to make your account impervious to unauthorised access.
Submit the documents needed to verify your identity and physical address. Your chosen broker should have set mandates regarding that; obey them to the letter. Furthermore, you should facilitate quick verification by submitting clear copies and photos of the right documents.
Check the supported payment methods and select an option that offers the utmost convenience. Remember to confirm if your chosen method has any deposit fees. Finally, use the funding method to deposit money into your trading account, heeding any stipulated minimum deposit requirements.
After depositing enough funds into your account, pick your favourite financial instruments and start trading. Since this activity is risky and prone to sudden price shifts, use solutions like stop-loss orders to limit risk exposure.
Conclusion
Our unbiased guide has introduced you to the best UK trading platforms for beginners. But that’s as much we can do. It’s now up to you to find a suitable service provider and invest enough time in your education. You won’t be successful without sufficient knowledge and skills. In fact, ignorance will only increase your odds of making detrimental mistakes and suffering crippling losses. To reiterate, educate yourself before opening a live account and risking your hard-earned cash.
Related Articles: