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Best Day Trading Platform UK 2022 to Research

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If you are an active trader, you probably have a list of to-dos drawn up when selecting the most popular UK day trading platform. This process could include, among many other things, low fees, average spreads, premium research tools, speed, and everyday payment methods.

This guide explores some of the popular day trading platforms UK for investors to use. Keep reading as we’ll also cover all the key metrics from fees and payments, to regulations and customer support.

Key points on Day Trading Platforms

  • Successful day trading relies on the correct use of a range of technical and fundamental analysis tools.
  • Some UK brokers are relatively limited in this regard, so you need to choose carefully when it comes to picking a day trading platform.
  • As well as the available day trading tools, you may want to review the trading fees, platforms, the range of assets and more when comparing day trading platforms.

Popular Day Trading Platforms List 2022

Day trading may seem easy on the outside, but active traders know that choosing some of the more reputable day trading platform UK goes a long way in determining success. In light of this, we have itemized some of the popular day trading brokers UK.

Each UK day trading platform has been chosen based on low fees, speed, reliability, and regulation.

  1. Capital.com
  2. eToro
  3. Avatrade
  4. Pepperstone
  5. Plus500
  6. Fineco
  7. IG
  8. Interactive brokers
  9. Skilling

Popular Day Trading Platforms Reviewed

As a savvy investor, finding a broker for day trading UK will help users in choosing a broker that will cater to their investing needs,  Here's a review on some of the popular day trading platforms available in the UK.

2. Capital.com

Capital.comcapital-logo is another popular day trading platform in the UK. This global CFD broker specializes in the field of contract for difference (CFD) trading and offers traders access to over 2,700 stock CFDs. This operation is spread across much of Europe and the Americas.

Regarding regulation, Capital.com is supervised by the UK’s FCA and CySEC and follows all the laid-down financial rules to ensure the safety of user funds. Like eToro, Capital.com is a zero-commission broker and allows users to trade assets without charging exorbitant fees. It offers tight spreads with Facebook shares charged at 0.08 pips only.

Capital.com homepage

Capital.com has a low minimum deposit of £20, and the minimum withdrawal is set at £37.41. Aside from stock CFDs, Capital.com offers financial investment services covering indices, cryptocurrencies, commodities, and FX currency pairs.

The UK-based broker offers fast order execution with low latency and an AI-driven trading platform. Leverage is pegged at 1:30, and deposits incur zero fees. Everyday payment methods are supported, and users can fund their trading account with a regular bank account, debit/credit cards, Sofort, iDeal, GiroPay, Multibanko, and several others.

Pros

  • Regulated by tier-1 global bodies
  • Everyday payment methods support
  • Large library of tradable assets
  • Low minimum deposit

Cons

  • Overnight fee charges

83.45% 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.

2. eToro

etoro-newPopular online broker eToro is one of the available day trading platforms to purchase multiple asset classes from. First of all, eToro has a vast number of tradable assets and covers over 17 international markets. Launched in 2007 by a group of fintech entrepreneurs, eToro offers over 3,000 tradable assets covering stocks of major companies, bonds, 153 exchange-traded funds (ETFs), cryptocurrencies, commodities, and major FX currency pairs.

Furthermore, investors get to trade with 0% commission on stocks and ETFs. Also, eToro offers competitive spreads for CFDs and cryptocurrencies.

buy The Graph on eToro

One of the main features of eToro is its social trading capabilities. eToro operates like a social network for traders and allows investors to learn from one another. The trading platform also supports CopyTrade, which allows one investor to mirror or copy successful trades of another.

Regarding minimum deposit, eToro has a minimum requirement of $10. eToro supports an advanced social trading tool called CopyPortfolio, and this helps users diversify their investment basket across several industries and sectors.

eToro is regulated by the UK’s Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), and Financial Industry Authority (FINRA).

Pros

  • Offers over 3,000 tradable assets across 17 international markets
  • Heavily regulated
  • 0% commission coupled with competitive spreads
  • Social trading and CopyTrade capabilities
  • Low minimum deposit

Cons

  • Mainly dollar-denominated

68% of retail investor accounts lose money when trading CFDs with this provider.

3. AvaTrade

avatrade-logoAvaTrade is another popular day trading platform UK to use. Founded in 2006, AvaTrade is a reputable online CFD broker in the UK. It is a key part of the AVA Group of Companies. Aside from the AvaTrade web trader, AvaTrade offers trading platforms with MT4&5, MetaTrader for Mac, and MetaTrader for mobile.

The broker has offices in four key locations spanning Japan, Australia, Ireland, and the British Virgin Islands. Tradable assets span 50 FX currency pairs, nine crypto assets, several indices, stocks, bonds, ETFs, commodities, and options trading.

Best UK day trading platform AvaTrade

Like eToro, AvaTrade comes embedded with a social trading feature through the AvaSocial platform. This way, users can replicate trades of other investors, mitigating against capital loss. AvaTrade is regulated in all regions it operates and has licenses from ASIC, the Japanese Financial Services Authority (JFSA), and the Investment Industry Regulatory Organization of Canada (IIROC).

In the aspect of fees, AvaTrade offers tight spreads, most especially for professional traders. For instance, AvaTrade charges 0.9 pips for the EUR/USD trading pair but will drop this figure to as low as 0.6 pips for advanced traders. AvaTrade has a minimum deposit of £74.71 and supports multiple everyday payment solutions, including bank wire transfer, credit/debit cards, and e-wallet solutions. AvaTrade charges an inactivity fee of £37 after three months.

Pros

  • Offers social trading
  • Tight spreads especially for professional traders
  • Reputable broker
  • Healthy library of tradable assets

Cons

  • Charges an inactivity fee

Visit AvaTrade /su_button]

71% of retail investor accounts lose money when trading CFDs with this provider.

4. Pepperstone

Pepperstone is another popular UK day trading platform that features on our list. The online broker formally came into the broker scene in 2010 and is a hotspot for many algorithmic traders and copy traders.

It offers over 1,200 tradable assets, including major FX currency pairs, CFDs, cryptocurrencies, stocks, indices, and options. Aside from this, Pepperstone offers different account types giving users more choice in selecting an account type. The Razor account has a low 0.09 pips well below the industry average, while the Standard account comes with 0% commission trading.

Best UK day trading platform - Pepperstone

However, the minimum deposit is pegged at £148. Pepperstone offers fully integrated MT4 and cTrader suites and supports web and desktop trading in terms of trading platforms.

The social trading option is accessible through the Mirror Trader and RoboX platforms and charges a base minimum of £3,738.3164 to access these copy trading tools. This comes with over 30 research indicators and multiple timeframes.

The FCA regulates Pepperstone in the UK and ASIC in Australia. The CFD broker also supports nine fiat currencies, including GBP, USD, CAD, and several others.

Pros

  • Social trading support
  • Multiple account types
  • High fiat currency support
  • Reputable broker

Cons

  • Has a high minimum deposit

Visit Pepperstone

76.6% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

Popular UK Day Trading Platform Comparison

Platform  Tradable assets Stock trading fees FX Trading fees Crypto trading fees Overnight fees
eToro Stocks, bonds, cryptocurrencies, commodities, FX currency pairs, CFDs, ETFs 0% commission on stocks Tight spreads Basic crypto fee stands at 0.75% No charges on non-leveraged crypto, stocks positions
Capital.com FX pairs, cryptocurrencies, indices, commodities, and shares Variable with 0.05 pips for Apple shares Variable 0.00006 for EUR/USD, 0.00013 for GBP/USD 150 pips for BTC/USD, 10 pips for ETH/USD, 0.02300 pips for XRP/USD 2% to 3%
Avatrade FX currency pairs, crypto, indices, stocks, bonds, ETFs, and commodities, and options trading Popular stocks like Apple, Amazon attract 0.13% in spread 0.9 pips for EUR/USD, 1.6 pips for GBP/USD Variable 0.25% over-market for BTCUSD, 0.28% over-market for ETH,  1% for XRP Not stated but applicable
Pepperstone FX currency pairs, Index CFDs, Commodity CFDs, ETF CFDs, shares CFDs, Currency Index CFDs 0.07%  0.09 pips for EUR/USD Nil Not stated but comes with admin fee of 2.5%

 Day Trading Platform Features

Fees

Fees is important for most investors. Users may want to look for brokers that offer low fees or no commission on trades. Other trading fees surrounding deposits, withdrawals, and low spreads should also be chalked up on your list when selecting a day trading platform.

Tradable assets

Although most offer major financial instruments, including CFDs, stocks, bonds, commodities, cryptocurrencies, each broker has minor differences that may be preferable for each individual user. A large library of tradable assets ensures traders get the hottest assets from one broker instead of visiting several platforms to do this.

Platforms

Most proprietary platforms are usually beginner-focused and are always watered down in a way. If you are looking for more powerful charting and research tools, you should look out for one with multiple trading platforms comprising popular MetaTrader 4 and 5. These come with more sophisticated indicators which can help in giving better market insight.

Tools

Unique broker features and tools may be the requirement of users looking for multiple ways to invest their money. While some users offer leveraging options, other may provide multiple assets to invest from or trading bundles that can help to diversify your trades.

Mobile app

Mobile app support gives you more flexibility in your trading. Most brokers still use the web-based platform format while a few offer a mobile trading app. This lets you trade while on the move allowing you to access similar market data and open and close trades as you would on the web platform.

User experience

While day traders may not count this as important, it is still necessary. Exceptional user trading experience means users may easily and rapidly place trades without requiring any outside help in doing so. A complex trading platform can make it more complicated for users to open new positions, making the investment process much more difficult, especially for new investors.

Payments

Last but not least on the metrics to look out for is the kind of payment methods the broker supports. FCA regulated brokers support several everyday payment solutions with popular options like bank wire transfer, credit/debit cards, PayPal, Skrill, Neteller, and other e-wallet solutions. More payment methods mean more flexibility in how easily users may fund accounts with little to no fees.

How to Get Started on a Day Trading Brokerage

Now that you have learnt all about how day trading brokers UK work and what to look out for, we will show you step-by-step how to open a day trading account using a brokerage that matches your needs.

Step 1. Create an account

Most day trading brokers offer free accounts which can be accessed on their websites or apps. Users may be required to provide personal details such as your full name, email address, mobile number, username, and password to complete this step.

Step 2. Upload ID

After completing the registration, the next step is to verify your identity.  All you need to do is upload a clear snapshot of your driver’s license or government-issued ID card. You will also be required to upload a copy of your recent utility bill or bank statement for proof of address.

Step 3. Make Deposit

Most day trading brokerages offer payment solutions like bank wire transfer, credit/debit cards and e-wallets. Deposit cash on your brokerage by selecting your preferred payment method.

Step 4. Purchase Your Asset

Now that you have completed the previous steps, investors can choose which assets they wish to purchase.  After selecting on your preferred asset class, enter the amount you wish to enter in the trade and confirm your transaction.

UK Day Trading Platform - Conclusion

Day trading is a potentially profitable yet risky endeavour and you need all the right tools in place to ensure you limit your potential loss on any given day. Day trading platforms go a long way in determining your success, which is why you should choose a broker which provides low fees, multiple asset classes and multiple tools & features.

Jimmy Aki author check sign Pro Investor

Based in the UK, Jimmy is an economic researcher with outstanding hands-on and heads-on experience in Macroeconomic finance analysis, forecasting and planning. He has honed his skills having worked cross-continental as a finance analyst, which gives him inter-cultural experience. He currently has a strong passion for regulation and macroeconomic trends as it allows him peek under the global bonnet to see how the world works.

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