Trading platforms allow you to buy and sell financial assets online. Depending on your choice of provider, this might include stocks, indices, forex, commodities, and even cryptocurrencies.
With so many UK trading platforms active in the space, knowing which provider to sign up with can be daunting. After all, you need to look at everything from fees and commissions to payments and regulation.
To help clear the mist, this guide has reviewed the Best UK Trading Platforms in the online arena. We also discuss what you need to look out for before joining a new provider and how to get started with a UK trading platform account today.
- 1 Top UK Trading Platforms 2021
- 2 Best Trading Platforms UK Reviewed
- 3 Best UK Trading Platforms Forex Spreads Comparison
- 4 UK Online Trading Platforms Software Comparison
- 5 How to Choose the Best UK Trading Platform for You
- 6 Education, Research & Analysis
- 7 How to Get Started with a UK Trading Platform
- 8 Conclusion
- 9 eToro – Best UK Trading Platform with 0% Commission
- 10 FAQs
Top UK Trading Platforms 2021
Here’s a break down of the best UK trading platforms that made our list. Scroll down to read our full review of each platform!
- eToro – Overall Best Trading Platform UK With 0% Commission & No Stamp Duty
- Fineco – Best Stock Trading Platform
- Libertex – Best CFD Trading Platform with Zero Spreads
- IG – Best Trading Platform UK for Asset Diversity
- Plus500 – Best Forex Trading Platform
- Capital.com – Best Online Trading Platform UK for Beginners
- Skilling – Best Bitcoin Trading Platform
- DEGIRO – Best Trading Platform UK for International Stock Investments
Best Trading Platforms UK Reviewed
With hundreds of online trading platforms now serving UK investors – our review process was a time-consuming exercise. We looked at key metrics surrounding dealing fees and trading commissions, user-friendliness, supported payments, customer service, and safety.
Without further ado – below you will find a list of the best UK trading platforms active in the online space right now!
1. eToro – Overall Best Trading Platform
We have no hesitation in giving eToro the number one spot as the best UK trading platform. First and foremost, this platform is highly suitable if you are just starting out in the world of online trading. It takes minutes to get started and the platform is free from complex features and technical jargon.
In terms of tradable assets, this regulated platform offers a wide range of trading options, including traditional investments like stocks and exchange-traded funds (ETFs). Regarding the former, you will have access to over 1,700 shares from 17 exchanges. This includes the London Stock Exchange, NASDAQ, NYSE, and more. You can also buy 16 different cryptocurrencies – such as Bitcoin and Ethereum.
If you are more interested in day trading, eToro offers a fully-fledged CFD facility. On top of the assets mentioned above, this also includes precious metals, energies, indices, and forex. Irrespective of what you decide to invest in or trade – eToro operates a 100% commission-free model. In fact, if you buy shares in UK companies, you will also avoid the 0.5% stamp duty fee – as eToro waivers it. If you invest in the stock market of ETFs, you don’t pay any fees whatsoever, while you’ll only pay the spread if you trade CFDs.
An additional top-rated feature at eToro is the Copy Trading tool. This allows you to select an experienced investor/trader and then copy their positions like-for-like. Fully-managed portfolios are also available via the CopyPortfolios feature. The eToro trading platform is also a social trading network, which means you can interact with over 12 million over users!
In terms of the specifics, eToro requires a minimum deposit of $200. The minimum investment on stocks and ETFs is $50 and $25 on cryptocurrencies. eToro is regulated by the Financial Conduct Authority (FCA). If you want to trade on your mobile, eToro offers an excellent trading app for iPhone and Android.
|Inactivity fees||$10 a month after 12 months of inactivity|
- Super user-friendly online stock broker
- Buy stocks without paying any commission or share dealing charges
- 800+ stocks listed on UK and international markets
- Deposit funds with a debit/credit card, e-wallet, or UK bank account
- Ability to copy the trades of other users
- FCA and FSCS protections
- Not suitable for advanced traders that like to perform technical analysis
75% of retail investors lose money trading CFDs at this site
2. Fineco Bank– Best Stock Trading Platform
If you’re looking for UK stock trading platforms that cover all bases – look no further than Fineco. The Italy-based financial institution now has a strong presence in the UK digital banking and brokerage scenes. It is licensed by the FCA and all deposits are covered by the FSCS.
The main attraction of this UK trading platform is that it allows you to trade stock CFDs commission-free. This allows you to target smaller profit margins without getting hit by flat fees. As is the case with most UK trading platforms that offer CFDs, you’ll have access to leverage and short-selling orders at Fineco. In terms of tradable stocks, Fineco gives you access to heaps of financial markets.
This includes UK shares listed on the FTSE 100 and 250, as well as the AIM. You can also trade stocks listed in the US, Canada, and several European exchanges. If you are more interested in buying equities and holding them for several months or years, UK stock trading platforms like Fineco also offer share dealing services. In fact, you can buy UK shares at Fineco for just £2.95 per trade. You will, however, need to pay a small annual fee of 0.25%.
Fineco also offers a range of passive investments – including but not limited to ETFs, index funds, and even managed portfolios. The main drawback with this platform is that it only supports bank transfers – meaning no debit/credit card or e-wallet deposits are available. But, you can get started with a small minimum investment of just £100 – and all deposits/withdrawals are fee-free.
Fineco Bank fees:
|Commission||0% on Stock CFDs, £2.95 on UK share investments|
- No commissions or inactivity fees
- Includes portfolio management tools
- Excellent fundamental analysis and commentary
- Simple system for tracking investment performance
- 25% annual management fee
70.98% of retail investors lose money trading CFDs at this site
3. Libertex – Best CFD Trading Platform with Zero Spreads
We talk about the importance of ‘spreads’ a bit later on. But, put simply, the spread is the difference between the buy and sell price of your chosen asset. As such, it’s an indirect trading fee that is charged by all online platforms. Well, apart from Libertex – which offers an industry-leading zero-spread policy.
Instead, this popular UK trading platform charges a competitive commission model that varies from 0% to 0.5%. Libertex – which has been offering online trading services for over two decades, offers lots of markets. This includes stocks, indices, cryptocurrencies, commodities, and digital currencies.
These are all represented via CFD instruments – meaning that you can apply leverage. Your leverage limits are dictated by UK/EU regulations – meaning you will get a maximum of 1:30 on major forex pairs, but less on other assets. Libertex also allows you to short-sell your chosen market. This CFD trading site is fully-compatible with MT4, too. This means that you can deploy a forex robot to trade on your behalf.
What we also like about Libertex is that the platform allows you to get started with a minimum deposit of just $10. This inconsequential amount is ideal if you are trading CFDs for the first time. In fact, you can also use the Libertex demo account if you want to start off in a risk-free environment. The platform accepts various payment methods – including debit/credit cards and e-wallets. It holds a license with CySEC, so your money is safe.
|Commission||0%-0.5% for stocks|
|Withdrawal fee||1 EUR for credit/debit card, 1% for Neteller, free for Skrill|
|Inactivity fees||10 EUR after 180 days|
- Zero spread CFD trading
- Good educational resources
- Long established broker
- Compatible with MT4
- Competive spreads
- Only offers CFDs
83% of retail investors lose money trading CFDs at this site
4. IG – Best Trading Platform for Asset Diversity
If your main priority is finding a UK trading platform that offers a highly diverse asset library – IG might be your best bet. In fact, this broker offers tens of thousands of markets across a wide variety of assets. First and foremost, IG allows you to invest in traditional markets like stocks, ETFs, mutual funds, investment trusts, and index funds.
It also offers Smart Portfolios – which are automatically rebalanced and reweighted on your behalf. Its entry-level share dealing fee is £8 but reduced to £3 if you placed more than three orders in the prior calendar month. Outside of its traditional investment department, IG also offers more than 17,000 CFD markets. This covers virtually every asset class imaginable.
For example, you can trade forex, stocks, indices, bonds, interest rates, government securities, commodities, and cryptocurrencies. Leverage is available on all CFD markets, as is short-selling. You can choose to trade through the main IG website or via MT4. An investment app is also offered by IG on both Android and iOS. In addition to CFDs, you can trade via spread betting instruments. As you might know, spread betting is tax-free in the UK.
Both CFDs and spread betting are commission-free at IG, apart from stocks. This will cost you an average commission of 0.10% – with a £10 minimum. In terms of research and analysis – IG is top-notch. But, we should note that this platform is best suited for experienced investors and active traders. You will need to deposit at least £250 with this FCA broker and the platform supports debit cards, credit cards, and bank transfers.
|Commission||£3/£8 per investment depending on volume. CFDs commission-free apart from stocks – which average 0.10%.|
|Deposit Fee||0.5%-1% on credit cards|
|Inactivity fees||£12 a month after two years of inactivity|
- Trusted UK broker with a long-standing reputation
- Good value share dealing services
- Leverage and short-selling also available
- Spread betting and CFD products
- Access to UK and international markets
- Great research department
- Minimum deposit of £250
- US stocks have a $15 minimum commission
76% of retail investors lose money trading CFDs at this site
5. Plus500 – Best Forex Trading Platform
If you’re based in the UK and looking for the best forex trading platform right now – we would have to point you in the direction of Plus500. The platform is well known in the UK CFD trading space and its parent company is now listed on the London Stock Exchange. One of the main attractions of Plus500 is its forex department.
Within it, you will find dozens of currency pairs of all shapes and sizes. Naturally, this includes all major and minor pairs like GBP/USD and EUR/USD. But, Plus500 particularly excels when it comes to emerging currencies. For example, the platform offers pairs that contain the South African rand and Mexican peso.
Not only does Plus500 offer heaps of forex trading markets, but fees are super-low. For example, all assets at the platform can be traded commission-free. You will also find that its spreads are competitive – with the likes of EUR/USD come with a dynamic spread that starts at just 0.01%. We should note that Plus500 offers lots of other tradable CFD markets – such as cryptocurrency trading, stocks, bonds, and commodities.
In terms of the trading platform itself, there is no requirement to download any software at Plus500. This is because you simply need to load the website on your browser, and you can start trading straight away. Alternatively, you might also consider the Plus500 mobile trading app which offers the full functionality of the web platform. This top-rated UK trading platform requires a minimum deposit of just £100 and supports Paypal, debit/credit cards, and bank transfers. The platform is licensed by the FCA.
- A commission-free trading policy
- Tight spreads and low fees
- A leverage ratio of up to 1:30
- User friendly and easy to use trading platform, available on web browsers and mobile phones
- Plenty of features including risk management tool, price alerts and trader’s sentiment tool
- Heavily regulated including a license by the FCA
- Not a social trading platform
- CFDs only
76.4% of retail CFD accounts lose money.
6. Capital.com – Best Trading Platform for Beginners
If you’re interested in trading online but you don’t quite have the required skill-set yet – Capital.com is a great entry-level platform. This is because the CFD broker is ideal for newbies. For example, the platform allows you to start trading with a minimum deposit of just £20 – so you don’t need to risk large amounts.
Additionally, Capital.com also offers a top-rated demo account facility. Once again, this allows you to trade live market conditions without risking any cash. Capital.com is also strong when it comes to educational material. Through its website, you’ll have access to heaps of trading guides and explainers. The platform also has an Android/iOS app that comes packed with mini trading courses. As such, Captial.com is great for novice traders.
In terms of what you can trade, this popular CFD platform offers heaps of markets. You can trade everything from stocks and indices to cryptocurrencies and commodities. Best of all, not only is Capital.com a 100% commission-free platform, but spreads are some of the best we have come across. The platform doesn’t charge anything on deposits/withdrawals either – nor is there an inactivity fee to worry about.
We also like the fact that Capital.com allows you to access non-UK markets without charging you a premium. You can trade at Capital.com online or via the mobile app, where you can instantly deposit funds with a debit/credit card or e-wallet. Bank transfers are also supported, but this takes the minimum deposit from £20 to £250. Capital.com is fully licensed in the UK and is authorized and regulated by the FCA.
- Educational app for new traders
- AI assistant identifies your weak points
- Trade ideas generated daily
- Excellent charting and analysis interface
- £20 minimum deposit
- Cannot build custom trading strategies
72.6% of retail investors lose money trading CFDs at this site.
7. Skilling – Best Bitcoin Trading Platform
Launched as recently as 2019, Skilling is a new-age trading platform that is looking to challenge the status quo. If you’re a fan of the League, you might have come across the Skilling brand when watching Aston Villa play. Nevertheless, this UK trading platform is worth considering if you want to trade Bitcoin.
Not only does it offer Bitcoin trading markets 24/7 – but fees are ridiculously low. For example, you can place buy and sell orders on Bitcoin CFDs without paying any commission – and spreads average just 0.01%. In addition to this, Skilling allows you to trade Bitcoin with leverage. If you’re based in the UK then this is limited to 1:2 – meaning that you can trade Bitcoin with twice the amount you have in your Skilling account.
On top of Bitcoin, you can also trade other cryptocurrencies. This includes Litecoin, Ripple, Bitcoin Cash, and Ethereum. We also like the fact that Skilling offers three different online trading platforms. For newbies, you might be best suited for the Skilling Trader platform – which can be accessed online or via the app. Additionally, the platform also supports cTrader and MT4.
These are both advanced third-party platforms that offer heaps of technical indicators and chart drawing tools. Plus, these platforms support automated trading robots – which Skilling allows. Outside of cryptocurrencies, you can also trade stocks, forex, indices, and commodities. The platform supports several payment methods – including debit/credit cards and e-wallets. This CySEC-regulated broker requires a minimum deposit of just $100.
- More than 700 share CFDs, including General Electric
- Commission-free share trading with tight spreads
- Range of three trading platforms
- Supports algorithmic trading
- Supports the MetaTrader 4
- User-friendly mobile app for iOS and Android
- Does not support ETF trading
75% of retail investor accounts lose money when trading CFDs with this provider.
8. DEGIRO – Best Trading Platform for International Stock Investments
Degiro is the only UK trading platform on our list that doesn’t offer CFD markets. In turn, this means that you won’t be able to get your hands on leverage or more sophisticated assets like commodities and Bitcoin. On the flip side, this trading platform stands out for the sheer number of international markets it offers.
In fact, the broker gives you access to over 50 exchanges from 30 countries. This includes heaps of European exchanges – such as those based in France, Germany, Italy, Sweden, Ireland, Greece, and Spain. North American exchanges cover the NYSE, NASDAQ, and Toronto Stock Exchange. You can even access markets in Japan, Singapore, Australia, and Hong Kong.
All in all, if you are looking to create a highly diversified stock portfolio that covers several marketplaces – Degiro is well worth considering. We should also note that Degiro supports UK shares, too. This includes hundreds of stocks from the FTSE 100 and FTSE 250 – alongside smaller-cap firms. In terms of fees, this will vary depending on the exchange you wish to access. In the UK, for example, it costs just £1.75 + 0.014% with a maximum of £5.
If it’s US shares you’re after, this will set you back just €0.50 + $0.004 per share. In addition to stocks and shares, Degiro also offers ETFs and bonds. There is no minimum deposit threshold at the platform, which is great if you want to start off with small stakes. You can, however, only deposit funds via bank transfer – which will delay the process by several days. Finally, Degiro is licensed in the Netherlands by the AFM.
|Commission||£1.75 + 0.014% with a maximum of £5|
- Very low fees to buy and sell stocks
- Thousands of stocks across multiple international markets
- One free ETF trade per month
- Also offers bonds and funds
- Good reputation
- Newly designed website makes it easy to invest
- Takes days to get your account set up
- Does not accept debit/credit cards or e-wallets
Investing at this trading platform involves risk of loss.
Best UK Trading Platforms Forex Spreads Comparison
Forex is one of the most popular assets to trade online in the UK, so let’s take a look at how the UK’s best trading platforms compare in terms of their forex spreads.
|Trading Platform||Forex Spreads|
|eToro||From 1 pips to 50 pips. USD/GBP spread 1 pip.|
|Fineco||From 1 pips to 3 pips. USD/GBP spread 1.2 pip.|
|Libertex||No spreads, commission from 0% to 0.386%. USD/GBP 0.008%.|
|IG||From 0.6 pips to 1807 pips. Average USD/GBP spread 1.71.|
|Plus500||From 0.2 pips to 0.9 pips. Average USD/GBP spread 0.23 pips.|
|Capital.com||From 0 pips to 0.3 pips (average). USD/GBP spread 0.|
|Skilling||From 0.1 pips to 119 pips. Average USD/GBP spread 0.3.|
UK Online Trading Platforms Software Comparison
While most brokers have their own proprietary platform, meaning it’s build by and is unique themselves, some are also compatible with other trading platforms like MT4 which offer a range of advanced tools and other features. Here’s a look at the software each of our recommended trading platforms offer.
|IG||Proprietary, MT4, ProRealTime|
|Skilling||Proprietary, MT4c, Trader|
How to Choose the Best UK Trading Platform for You
On the one hand, we have done the hard work for you by reviewing the very best UK trading platforms available in the online arena right now.
However, no-two platforms are the same – meaning that you need to ensure the provider in question is right for your trading goals. For example, while some UK trading platforms stand out by offering dozens of international markets, others are focused on offering a low-cost service.
Taking all of this into account, below we list the many metrics that you need to consider before signing up with the new UK trading platform.
Put simply, if you sign up with a UK trading platform that isn’t licensed – you are asking for trouble.
After all, you will be entrusting your trading capital with the platform in question – so it’s absolutely crucial that you are protected by a reputable regulatory body.
In the vast majority of cases, the best UK trading platforms that we have discussed today are licensed by the FCA. Others are regulated by reputable bodies located overseas – such as CySEC or the AMF in the Netherlands.
Either way, by using a trusted trading platform that is regulated – you will benefit from the following safeguards.
- Segregated Funds: All of the UK trading platforms listed on this page are required to keep client funds in segregated bank accounts. This means that your money is kept separate from that of the platform’s working capital.
- ID: To ensure the provider remains compliant with anti-money laundering laws, all of the UK trading platforms listed on this page will need to verify your identity. This ensures that you are able to trade in a safe and secure environment.
- Risk Disclosure: An additional regulatory requirement is that licensed platforms must clearly display the risks associated with trading. This ensures that you do not risk more than you can afford to lose.
In addition to the above, some of the platforms listed above are covered by the FSCS. This means that UK traders are protected in the event the trading platform goes bust. This covers the first £85,000 deposited at the platform.
It goes without saying that you need to ensure that your chosen UK trading platform offers your preferred marketplace. At the forefront of this is the type of financial instrument offered. For example, if you are looking to make traditional investments – you’ll need a platform like eToro that offers share and ETF dealing services.
Or, if you want to trade with leverage and short-selling capabilities, you’ll need to ensure your chosen trading platform offers CFDs. Once you have assessed the type of financial instruments offered by the platform, you then need to dig a little deeper. By this, we mean the specific exchanges and markets you will be able to access.
For example, if you want to trade forex – check what currency pairs are supported. If it’s stocks that you wish to invest in, explore what exchanges are offered. The good news is that you can usually check what markets are supported by the UK trading platform before signing up.
Fees are a crucial component to evaluate before signing up to a UK trading platform. After all, your chosen provider is in the business of making money – so fees and commissions are inevitable. The most important cost to assess is that of the trading fee that applies when you place orders.
In the traditional stock and ETF scene, this is usually referred to as a share dealing fee. In most cases, this is a flat fee. For example, IG charges £3/£8 while Fineco charges just £2.95. eToro, however, charges no share dealing fees whatsoever, which is one of the many reasons we believe it is the best UK trading platform.
If you’re looking to day trade CFDs, then you should also pay attention to the average spread charged by the provider. For example, if trading forex, you’ll want to keep these spreads below 1 pip. In the case of stock CFDs, the likes of eToro offer average spreads of just 0.2%-0.25% – which is very competitive.
Other trading platform fees to consider include:
- Deposit/Withdrawal Fees: Some, but not all, UK trading platforms charge deposit/withdrawal fees. This can vary depending on the specific payment method. For example, deposits at IG are free unless using a credit card – which comes with a fee of 0.5%-1%.
- FX Fees: Some UK trading platforms will charge you a fee to access non-British marketplaces. This usually comes in the form of an FX percentage fee that is charged on top of your order value.
- Stamp Duty: By law, all UK share purchases (apart from those listed on the AIM) will attract a 0.5% stamp duty fee. This is payable when you buy the shares, but not when you sell. The only exception to this rule is eToro – which waivers the stamp duty fee.
Ultimately, by using a low-cost trading platform, you get to keep more of your financial gains.
Trading Tools & Features
If you are looking to give yourself the best chance possible of making consistent profits, you’ll want to make use of some trading tools. At the forefront of this are technical indicators – which allow you to predict future price action based on historical trends. In other words, you’ll be reading pricing charts.
The best online brokers offer dozens of technical indicators to help with your chart analysis endeavors. In addition to this, it’s also worth looking to see what newbie-friendly trading features your chosen platform offers. For example, eToro offers a Copy Trading feature that allows you to trade in a 100% passive manner.
The way it works is once you have chosen an experienced trader you like the look of – you can elect to copy all of their future trades. For example, if the eToro trader invests 3% of their portfolio in Apple shares, your portfolio will do the same. As such, if invested $1,000 into the trader, $30 would be allocated to Apple.
Education, Research & Analysis
If you will be opening a UK trading platform account for the very first time, it makes sense to do so with one that offers educational resources. We mentioned earlier that Capital.com is great for this – as the platform offers lots of guides and even mini-courses via its app.
eToro is also great for education. This includes trading explainers and regular webinars. When it comes to research tools and analysis, we mentioned a moment ago that technical indicators are important. In addition to this, you’ll also want access to fundamental data.
For example, if you are looking to invest in shares, then opt for a platform that providers company earnings reports. Consider choosing a UK trading platform that also offers real-time financial news feeds. It is also handy if the provider offers an economic calendar so you prepare yourself for upcoming events (like central bank meetings).
There is nothing worse than signing up to a UK trading platform only to find that it is super-difficult to use. This is especially the case when it comes to mobile trading. After all, you will be buying and selling assets on the move via a small screen – so you’ll want a top-notch user-experience that is burden-free.
eToro is ideal in this respect, as both its desktop platform and mobile app operates in a seamless manner. For example, it’s easy to navigate from asset-to-asset, deposit/withdraw funds, and of course – place trades. A good way to gauge the user-friendliness of a trading platform is to check reviews on the respective app store.
The best UK trading platforms will allow you to deposit and withdraw funds with ease. For example, many of the platforms we have discussed on this page support debit/credit cards and e-wallets like Paypal and Skrill. This ensures that you can deposit funds instantly.
However, some platforms – such as Degiro and Fineco, only accept bank transfers. While this does permit higher limits, this will delay the deposit process by a few days. In addition to supported payment options, check to see how long it takes for the UK trading platform to process withdrawals.
It goes without saying that it is difficult to gauge what level of customer support you will get at your chosen UK trading platform until you need it. But, it is still worth seeing what support channels you will have access to. Crucially, you’ll want access to at least one customer service method that gets you real-time support.
This might include live chat or a telephone support line. At the other end of the spectrum, some UK trading platforms only offer email support. This is somewhat cumbersome, as you might need to wait several hours before you get a reply. Whilst ordinarily this might not be an issue, it is when you are trading with your hard-earned money.
How to Get Started with a UK Trading Platform
So now that we have discussed the many metrics that you need to consider before choosing a provider, we are going to conclude our guide by walking you through the UK trading platform sign-up process.
While the steps outlined below remain constant across all platforms, we are going to show you what you need to do to join commission-free provider eToro.
Step 1: Open an Account and Upload ID
All regulated UK trading platforms are required to collect some personal information from you. As such, head over to the eToro website, click on the ‘Join Now’ button, and enter the requested details.
This covers the basics, such as your full name, home address, date of birth, and National Insurance Number. You’ll also need to select a username and create a strong password.
Step 2: Confirm Identity
As we mentioned earlier, all FCA-regulated online brokers are legally required to verify the identity of their customers. Fortunately, the process at eToro can be completed in minutes. All you need to do is upload the following two documents:
- Valid passport or driver’s license
- Utility bill or bank account statement
Once you submit the above documents, eToro should be able to verify them instantly.
Note: If you don’t have access to the above documents and want to start trading at eToro right now, you can upload them later. You will, however, need to do this if you wish to deposit more than $2,250 and you submit a withdrawal request.
Step 3: Add Funds to Your Trading Account
Once you have set your eToro brokerage account up, you will then need to deposit some funds. The minimum deposit is $200 at this platform.
You can do this instantly by using your debit/credit card. Or, you can use an e-wallet like Paypal, Skrill, or Neteller. You can also initiate a UK bank transfer, but this will delay the process.
Note: Your deposit at eToro will incur a small FX fee of 0.5% – as all transactions are converted to USD. The good news is you will not incur any further FX fees when you access non-UK markets – which is a major benefit.
Step 4: Find an Asset to Trade
Now that you have added money to your eToro trading account, you need to find an asset that you wish to trade. The easiest way to do is to search for the asset.
For example, we are looking to trade Amazon stocks – so we enter the name of the company into the search box and click on the result that loads up.
If you don’t know what you want to trade, click on the ‘Trade Market’ button on the left-hand side of the dashboard. You can then filter down by the respective asset – such as stocks, commodities, or ETFs.
Step 5: Place an Order
Once you have selected an asset to trade, you then need to complete an order form.
The metrics that you need to enter are listed below:
- Buy/Sell Order (Compulsory): All trades at eToro – and any platform for that matter, require a buy or sell order. If you are predicting that the asset will increase in value, place a buy order. Or, if you think the asset will decrease in value, place a sell order.
- Limit/Market Order: If you want your order executed instantly by eToro, leave the form set as a market order. Or, if you want to enter the position at a specific price, change this to a limit order.
- Stake: You need to enter your stake into the ‘Amount’ box – in US dollars. The minimum on stocks and ETFs is $50, while it’s just $25 on cryptocurrencies.
- Leverage: If you are planning to apply leverage to your trade, select your multiple within the limits provided.
- Stop-Loss/Take Profit Order: Although not compulsory, both stop-loss and take-profit orders are crucial for risk management purposes. They instruct eToro to close your trade when a specific price target is met, or when the trade is losing by a certain amount.
Finally, click on the ‘Open Trade’ button to submit your commission-free order. If you opted for a market order then eToro will execute it instantly. If you went for a limit order, the position will go live only when your pre-specified price point is met.
In summary, there are hundreds of UK trading platforms to choose from. While this is great for retail traders looking to shop around, it can be a daunting task to find a platform that meets your needs. To help clear the mist, we have discussed the best trading platforms active in the UK investment scene right now.
But, for us, eToro stands out from the crowd. This popular FCA-regulated trading platform has since attached 13 million investors to its site. You can trade and invest in heaps of assets without paying any commissions or stamp duty. The platform is really easy to use and can be accessed online or via the app.
eToro – Best UK Trading Platform with 0% Commission
75% of retail investor accounts lose money when trading CFDs with this provider.
What is the best trading platform in the UK?
After reviewing over 100+ trading platforms offering accounts to UK traders, we concluded that eToro is by far the best broker. This commission-free trading platform offers heaps of assets and it is perfectly suited to newbies.
Which trading platform is best for beginners UK?
If you are a beginner trader with virtually no experience - you are probably best to stick with eToro. The broker designed its trading platform so that people of all experience levels can use it. As such, eToro is free from complex features and jargon
Is trading illegal UK?
No, trading is not illegal in the UK. However, for the provider in question to offer trading services, it must hold a license. In most cases, this will be with the UK's FCA.
Are UK trading platforms covered by the FSCS?
In some cases, yes. However, not all UK trading platforms are - so it's crucial that you check this first. To give you an idea, the likes of eToro, IG, and Fineco are FSCS protected.
How much do you need to trade in the UK?
Since the online trading scene opened its doors to retail clients - you can now get started with a small amount of capital. For example, eToro requires a minimum deposit of just $200 - which is about £160.