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At InvestingGuide, we spend hundreds of hours researching and analysing the financial market. We aim to make the best recommendations, which are unbiased and based on our hands-on testing. Whether you are a beginner or an expert UK trader, start by learning how the financial market works. Choosing the best online trading platform in the UK that is licensed and regulated by the FCA is also crucial. We pride ourselves on providing accurate guidance, backed by decades of experience studying both the UK and international markets.
Kickstarting an online trading venture in the UK requires a strategic plan, and this guide is here to enlighten you on everything you need to know. From recommending the top trading platforms to guiding you through the initial steps, we are here to support you.
The financial market is constantly changing and can be unpredictable. While it offers excellent opportunities, expect losses from time to time. Having the best trading platform on your side can significantly improve your trading experience. Most importantly, take the time to learn about the market you want to trade in. You can use a platform’s demo account for this purpose, as it offers a risk-free environment to practice and develop your trading skills.
List of the Best Trading Platforms
- eToro – Overall Best UK Trading Platform
- Plus500* – Top Platform for CFD UK Traders
- Pepperstone – Beginner-Friendly Trading Platform in the UK
- FP Markets – Best Trading Platform For Professional Traders in the UK
- Spreadex – Top Platform For UK’s Spread Bettors
- AvaTrade – An Excellent Trading Platform For Mobile Trading in the UK
Note: 80% of CFD retail accounts lose money with this provider.
Trading Platforms in the UK: Comparison Table
Our recommendations are based on thorough testing and analysis. We compared as many FCA-regulated platforms as possible, evaluating them on key factors such as security, affordability, reliability, and more. Only those meeting our criteria were shortlisted for recommendations.
We haven’t favorited any platform and have strived to remain as unbiased as possible. To achieve this, we visited Google Play, the App Store, and Trustpilot to review user testimonials. Their comments and ratings informed us about the platforms’ strengths and weaknesses, helping us make the best choices for our readers.
In summary, we recommended the best trading platforms in the UK based on our test results and user feedback. Use our comparison table below to analyze the features of our top trading platforms and make informed decisions.
| Best Trading Platform | Licence | Support Service | Software | Payment | Demo Account | Money Insurance |
|---|---|---|---|---|---|---|
| eToro | ASIC, CySEC, FCA, FSAS | 24/5 | eToro investing platform, Multi-asset platform, Copy Trader | Credit/debit cards, PayPal, Bank transfer, Neteller, Skrill, eToro Money, Online Banking | Yes | Yes (up to $250,000) |
| Plus500* 80% of retail investor accounts lose money when trading CFDs with this provider. | FCA (FRN 509909), CySEC (#250/14), ASIC, MAS, FSA | 24/7 | Plus500 Webtrader | Bank Wire Transfer, Credit/debit cards, Paypal, Skrill | Yes | Yes (up to £85,000) |
| Pepperstone | FCA, 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 | Yes (up to £85,000) |
| FP Markets | FCA, 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 | Yes (up to $500,000) |
| Spreadex | FCA, SEBI | 24/5 | iPhone App, IPAD App, ANDROID App, TradingView | Bank Wire Transfers, Credit cards | No | Yes (up to £85,000) |
| AvaTrade | CBI, CySEC, ASIC, BVIFSC, FSA, SAFCSA, ADGM, ISA | 24/5 | MT4, MT5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, Capitalise.ai | Credit/debit cards, Wire transfer, Paypal, Skrill, Neteller, WebMoney | Yes | Yes (up to $1,000,000) |
Platforms Short Overview
Choosing an affordable trading platform that features your preferred assets is the best decision you can make. By doing so, you can trade confidently without the risk of overspending.
Unfortunately, comparing hundreds of trading platforms in the UK can be daunting for traders. Therefore, we did all the legwork and have shared two comparison tables below highlighting the key fees and the trading instruments offered by the best UK trading platforms.
Fees
| Best Trading Platform | Fees | Minimum Deposit Requirement | Transaction | Inactivity |
|---|---|---|---|---|
| eToro | From 2 pips | £100 | £5 withdrawal | £10 monthly |
| Plus500* | From 0.0 pips | £100 | Free | £10 monthly |
| Pepperstone | From 0.0 pips | £0 | Free | None |
| FP Markets | From 0.0 pips | £100 | Free | None |
| Spreadex | From 0.6 pips | £0 | Free | None |
| AvaTrade | 0.03 pips | £100 | Free | £50 quarterly |
Note: 80% of CFD retail accounts lose money with this provider.
Assets
| Best Trading Platform | Forex | Stocks | Commodities | ETFs | Options |
|---|---|---|---|---|---|
| eToro | Yes | Yes | Yes | Yes | No |
| Plus500* (CFDs) | Yes | Yes | Yes | Yes | Yes |
| Pepperstone | Yes | Yes | Yes | Yes | No |
| FP Markets | Yes | Yes | Yes | Yes | Yes |
| Spreadex | Yes | Yes | Yes | Yes | Yes |
| AvaTrade | Yes | Yes | Yes | Yes | Yes |
Note: 80% of CFD retail accounts lose money with this provider.
Our Expert’s Opinion about the Best Trading Platforms
We came up with the list below after conducting thorough market research that took hundreds of hours to complete. We rigorously tested each platform to ensure they met our high standards. Here are our mini-reviews on the platforms and our opinion based on our hands-on experience.
1. eToro – Overall Best UK Trading Platform
We consider eToro the best trading platform in the UK for various reasons. The platform is user-friendly both on desktop and mobile devices. Additionally, registering an account is straightforward, with a low minimum deposit requirement of £100 for UK clients. eToro supports a variety of transaction methods, including debit/credit cards, e-wallets, and bank transfers. While deposits are free, there is a £5 fee for withdrawals.
eToro is one of the platforms offering commission-free stock trading and investing services. It also provides a range of additional securities for portfolio diversification, including forex, commodities, indices, ETFs, and more. For beginners, eToro provides a vast selection of learning tools and a £100,000 virtually funded demo account. On top of that, the platform hosts an award-winning social trading platform that allows you to interact with other traders and mirror potentially profitable trades from experts.
✔5000+ financial instruments
✔Cost-free deposits
Pros
- Low minimum deposit requirement
- A user-friendly and intuitive design trading platform
- Commission-free stock trading
- Reliable and responsive 24/5 support service
- Hosts an award-winning social and copy trading platform
Cons
- Withdrawal fees apply
- No third-party platforms like the MT4 and MT5
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. Plus500 – Top Platform for CFD UK Traders
For traders interested in CFD assets, Plus500 is an excellent choice. The platform features a user-friendly and customizable interface. It offers commission-free forex and CFD trading across a wide range of asset classes, including shares, commodities, ETFs, and indices. The only cost associated with this platform is the spread, which starts as low as 0.0 pips.
Plus500 provides access to over 2,800 CFD instruments, with leverage limits up to 1:30. Beginners can use a £50,000 virtual demo account to practice and build their skills. Experienced traders can take advantage of Plus500’s “Premium Service,” which includes advanced resources and higher leverage limits of up to 1:300. Plus500UK Ltd authorized & regulated by the FCA (#509909).
Note: 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
✔User-friendly interface
✔Zero deposit and withdrawal fees
Pros
- Commission-free CFD trades
- Has a virtually funded demo account and quality learning materials for newbies
- £100 minimum deposit requirement, which we believe is low
- High leverage limits and an advanced platform for professional traders
- Low spreads from 0.0 pips
Cons
- Only forex and CFD instruments supported
- Limited asset offerings compared to its peers
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.
3. Pepperstone – Beginner-Friendly Trading Platform in the UK
Pepperstone is an excellent trading platform for newbies looking to enter the financial market. We found that it provides a range of valuable resources for newcomers, including comprehensive learning materials, a demo account, and an intuitive platform that works seamlessly on both desktop and mobile devices. Additionally, Pepperstone supports social trading through its MT4, MT5, cTrader, and TradingView platforms.
When it comes to asset offerings, this best trading platform UK for beginners lists over 1200 CFD and spread betting instruments across various asset classes, such as forex, shares, commodities, and indices. We also like its low spreads from 0.0 pips and no minimum deposit requirement. This makes it easier for newbies to start trading with small funds and gradually increase the amount as they become familiar with the market.
✔24/7 customer support
✔No inactivity fees
Pros
- No minimum deposit requirement
- Low spreads from 0.0 pips
- Quality learning materials and a demo account for newbies
- Social and copy trading on multiple platforms
Cons
- Limited asset offerings compared to its peers
- You can only trade the assets as CFDs and spread betting
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.
4. FP Markets – Best Trading Platform For Professional Traders in the UK
FP Markets stands out as a top choice for professional traders due to its extensive range of advanced trading tools. Although it is suitable for all levels of traders, its sophisticated features make it particularly appealing to experts. We experienced fast trade execution, an advanced client portal for real-time tracking, and superior VPS solutions for expert advisors (EAs) and auto-trading.
FP Markets offers access to over 10,000 trading instruments across various asset classes. These include forex, shares, commodities, cryptos, indices, ETFs, and more. In addition to providing multiple trading platforms, this broker features social and copy trading. You can take advantage of this feature to mingle with other traders and copy potentially profitable trades from experts.
✔10,000+ tradeable financial instruments
✔Free deposits and withdrawals
Pros
- Low minimum deposit requirement of £100
- Low spreads from 0.0 pips
- Fast trade execution speed on its desktop and mobile devices
- Features an Iress DMA platform for share trading
- Reliable and responsive 24/7 support service
Cons
- The available securities are available to trade as CFDs only
- The minimum balance for the Iress account type is £1000
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. Spreadex – Top Platform For UK’s Spread Bettors
Spread betting is legal in the UK, and to succeed in this area, you need a reliable platform like Spreadex. We found that Spreadex is both user-friendly and highly customizable. It provides access to over 10,000 global markets across various asset classes, including stocks, forex, indices, commodities, cryptocurrencies, ETFs, and more. The platform has no minimum deposit requirement and offers competitive spreads starting from 0.6 points on major currency pairs.
Besides its proprietary platform, Spreadex supports TradingView, known for its advanced features. TradingView includes social trading, over 12 interactive chart types, more than 50 drawing tools, and over 100 pre-built technical indicators. These tools help you perform thorough market analysis and craft strategies to enhance your trading performance.
✔10,000+ financial instruments
✔Zero account inactivity fees
Pros
- Low trading fees with spreads from 0.6 points on major currency pairs
- Quality market analysis tools
- Features a Spreadex Pro platform tailored for professional traders
- Free deposits and withdrawals
- No minimum deposit requirement
Cons
- No demo account
- No MetaTrader platforms
We analyzed Spreadex’s fees and commissions since these elements can impact a trader’s profitability. The first impressive aspect that caught our attention is this broker’s £0 minimum deposit requirement. You can deposit any amount into your Spreadex account and start trading almost instantly. Furthermore, the broker charges zero account maintenance and inactivity fees.
What’s more, Spreadex has tight spreads and commissions. While trading with this broker, you can enjoy low spreads starting from 0.9 pips for GBP/USD, 0.001 pips for USD/INR, and 0.6 pips for EUR/USD. However, note that this broker charges overnight financing fees for positions held overnight.
Online Trading in the UK
Many individuals in the UK are exploring online trading due to its attractive potential for returns. The Financial Conduct Authority (FCA) has implemented measures to safeguard the online trading environment in the region. As the primary financial regulator in the UK, the FCA oversees financial services firms and upholds market integrity. Its robust regulatory framework ensures the safety and integrity of financial markets.
To engage in online trading in the UK, you must be at least 18 years old and legally capable of entering into binding contracts, which is a requirement for opening a trading account. Moreover, prospective traders must provide identification and proof of address. This is to comply with the region’s anti-money laundering (AML) regulations.
One of the advantages of online trading in the UK is that you can manage your positions from the comfort of your home or while on the move. The market is open 24/7, and you can trade forex, shares, commodities, cryptos, CFDs, and spread betting. Make sure you select a broker that aligns with your trading goals and preferences to ensure a successful trading experience.
In terms of tax regulations, all profits from trading activities are subject to taxation. The HM Revenue & Customs (HMRC) is responsible for administering and enforcing tax laws, including those related to capital gains and other trading-related profits.
What is a Trading Platform?
A trading platform is a software or online application provided by brokers that enables traders to manage their accounts and trade a variety of assets efficiently. These assets include stocks, forex, commodities, cryptocurrencies, and spread betting options, among others.
The best trading platforms in the UK should align with your specific trading needs. Key features to look for include user-friendliness, customizability, and compatibility with both desktop and mobile devices.
In the UK, trading platforms vary widely, offering different features and functionalities to match diverse preferences. Some popular options include proprietary, third-party, web-based platforms, desktop, and mobile platforms.
Learn about stock trading apps in the UK in our other article.
How to Choose the Best UK Trading Platform
Choosing the best trading platforms in the UK can significantly enhance your trading experience and improve your chances of success. Whether you choose a platform from our recommendations list or conduct your own research, several key factors should guide your decision including:
Prioritise secure trading platforms to protect your personal data and funds. Remember, while the UK’s Financial Conduct Authority (FCA) works tirelessly to keep online trading secure, some fraudulent platforms might still be operating in the region. Such platforms are mostly not FCA-regulated and do not adhere to the authority’s regulations. They will lure you with attractive offers only to scam you off your hard-earned money. Ensure the platform you choose is FCA-regulated and utilizes strong encryption technology for both its desktop and mobile platforms.
That being said, ensure the platform you select is licensed and regulated by the FCA.
The best trading platform for beginners in the UK should be affordable and fit your budget. Analyse a platform’s fee structure and confirm all trading and non-trading charges. These include minimum deposit requirements, inactivity fees, commissions/spreads, financing charges for overnight positions, and others. Remember, trading involves risks, so only use funds you are comfortable losing.
Assess the performance of the platform before making a commitment. The platform should be user-friendly and feature the best trading tools for market analysis. For beginners, confirm the availability of learning materials and a demo account to gauge your skill level risk-free. Plus, the best trading platform UK should be compatible with mobile devices to help traders efficiently manage their positions while on the move.
Choose a platform that supports the trading instruments you’re interested in. Whether you’re trading forex, stocks, commodities, or cryptocurrencies, the platform should provide access to these assets and more. A broad range of asset classes allows for better diversification and simplifies your trading journey.
Don’t overlook the importance of customer support. Ensure your platform is backed up by a team of responsive and reliable professionals that can effectively address your concerns or questions. It doesn’t matter whether a platform’s support team is available 24/7 or five days a week. It simply needs to fit your trading schedule. The team must also be reachable via convenient channels like live chat, email, and phone.
While considering the above factors is essential, don’t ignore user testimonials. As professionals in this field, we believe learning from other traders’ experiences can provide valuable insights into a platform’s strengths and weaknesses. Visit review sites like Google Play, the App Store, and Trustpilot to read user comments and ratings, helping you make an informed decision based on real-world feedback.
How to Sign up for an Account with a UK Trading Platform
For many beginner traders in the UK, creating a trading account with an online brokerage firm can feel daunting. We understand these concerns, especially if you lack proper guidance. However, signing up with a UK trading platform is a straightforward process. Follow these steps to get started:
Start by visiting the official website of the trading platform you have chosen. If you selected a platform from our list, you can use the links provided on this page for quick access. On your platform’s website, read and understand the terms of service to ensure the platform meets your trading needs. And if you are always on the move, install your platform’s trading app on your mobile device to efficiently manage your positions anywhere, anytime.
When you’re ready, click on the “Register,” “Join Now,” or “Sign Up” button to start the registration process. You will need to fill out a form with your personal details, including your name, email address, phone number, source of income, preferred currency, and location.
Be sure to create a strong username and password to secure your account. Accuracy is crucial, as you will need to verify these details in the next step.
All FCA-regulated brokers are mandated to verify their clients’ personal details before completing the account setup.It is a standard protocol set by the FCA to ensure the UK’s online financial space remains safe and free from scammers.
You will need to provide copies of personal documents for verification. This includes a government-issued ID, passport, or driver’s license to confirm your identity, and a recent utility bill or bank statement to verify your address.
The account registration process may take hours to complete, after which your broker will send you an email notification. At this point, you can make a deposit that adheres to the platform’s minimum deposit requirement. Most FCA-regulated platforms support transactions using multiple methods, including credit/debit cards, e-wallets, and bank transfers. Choose a convenient method for fast, affordable, and efficient transactions.
Once you make a deposit on your trading platform, you will automatically be redirected to the listed assets to trade. Select your preferred asset, whether forex, shares, commodities, cryptos, or others. Make your trading decisions based on your strategy and available funds. Determine the size of your trade and decide whether you are buying the asset directly or trading it as a derivative, like CFDs or indices.
Proceed to open a position and track it to ensure it aligns with your trading plan. Use risk management tools, like stop-loss orders to mitigate massive losses in case a trade goes against you.
Conclusion
With numerous trading platforms in the UK claiming to be trustworthy and legitimate, it’s essential to do your own research to find the best one for you. Our recommended platforms have been vetted for security, functionality, and overall performance. We encourage you to explore them, but as highlighted in this guide, it’s crucial to have a clear plan and approach your trading strategically.
Keep in mind that the financial markets are both volatile and ever-changing. While there is potential for profit, losses are also a part of trading. Begin with a modest investment, make use of demo accounts if you’re new to trading, and be prepared to learn from your experiences. Fortunately, our top UK trading platforms offer valuable educational resources and market analysis tools to help you navigate the market effectively and make the most of your trading journey.
