The Best Trading Platforms in the UK for November 2024

This guide provides an in-depth analysis of online brokerage firms in the UK that are regulated by the FCA (Financial Conduct Authority). The purpose of this guide is to help UK traders to better understand the options that are available, so that they can make informed trading decisions.

There are numerous platforms online that present varied features and access to different asset classes. We spent time reviewing 14 UK trading platforms and online brokers that can be used to trade a variety of assets. Our findings are presented below in a series of mini reviews that outline the main features that each platform has to offer, the type of trading that each platform is suitable for and the platform fees.

Best Trading Platforms in the UK in 2024

How We Ranked The Best Online Brokers

• Low platform fees including commissions, spreads, and account fees.
• Access to a variety of assets to support a diverse trading strategy.
• The provision of charting tools for technical analysis. Examples include MT4/5, TradingView, and cTrader.
• A free demo account that can be used to test out a platform without putting any real money at risk.
• Educational resources such as in-depth guides, webinars, and professional advisors.
• Excellent customer support services that are available 24/7. The best platforms should offer live chat.
• The ability to manage your portfolio on both desktop and mobile.

What Is a Trading Platform?

A trading platform is an online application that facilitates the buying and selling of financial instruments, such as stocks, bonds, commodities, and derivatives. Trading platforms serve as a bridge between traders and the market, enabling them to place orders, analyze market data, and execute trades. These platforms may be provided by brokerage firms, banks, or other financial institutions, and can be accessed through various devices, including desktop, smartphones, and tablets.

Most trading accounts allow traders to view real-time market prices, monitor their investments, and access technical analysis tools. This provides a comprehensive view of the market, displaying price charts, order books, and trade history. Traders can customize their trading platform according to their preferences, such as adding specific indicators and setting up alerts for price movements.

Trading platforms also offer different types of orders, allowing traders to place market orders, limit orders, stop orders, and more. They provide access to a range of financial markets, including domestic and international exchanges. In addition to executing trades, some platforms also offer research and educational resources to help traders make informed decisions.

Our Reviews of 14 UK Trading Platforms & Online Brokers

The UK stock market is one of the largest and most liquid in the world, with a total market capitalisation of £4.4 trillion as of June 2022. With so many trading sites available in the online arena, knowing which provider to sign up with can be challenging.

In the following section, we will review each online brokerage to help you find the platform that is most suitable for your needs.

1. eToro – Leading copy trading provider with over 20 million users worldwide

Launched in 2007, eToro is an online broker with more than 27 million clients as of Q2 2023. This platform allows users to trade over 5000 instruments including stocks, ETFs. indices, cryptocurrencies, mutual funds, and more.

The platform is well-known for providing a market-leading social trading feature that makes it possible to interact with other traders and gain insight into trades that are being placed.

eToro Fees

{etoroCFDrisk} % of retail investor accounts lose money when trading CFDs with this provider. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more

XTB Online Trading (XTB) went public in 2016, listing under the ticker symbol XTB on the Warsaw Stock Exchange. XTB has been steadily making inroads, currently offering access to various markets such as forex, shares, indices, metals, commodities, and cryptocurrencies. It is regulated by the Financial Conduct Authority (FCA #522157) and is registered with the Polish Financial Supervision Authority (KNF).

XTB is a good option for active traders because it is compatible with the MT4 charting tool. MetaTrader is considered to be one of the best charting systems that offers an extensive range of indicators, APIs, automated tools, and more.

XTB Fees

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

3. AvaTrade – Online CFD broker that offers over 1200 FX pairs

AvaTrade is a reputable online broker that offers a variety of trading options for traders all around the world. Founded in 2006, the broker is regulated by multiple financial authorities, including the Central Bank of Ireland, the Financial Services Commission of the British Virgin Islands, and the Australian Securities and Investments Commission.

AvaTrade provides its clients with access to a wide range of financial instruments, including forex, stocks, commodities, and cryptocurrencies. The broker also offers a user-friendly interface, educational resources, and top-notch customer support to provide help and assistance to users on their trading journey.

AvaTrade Fees

There is no guarantee that you will make any profits with this provider. Your money is at risk.

4. Admiral Markets – Top UK online brokerage account with over 8000 financial instruments

Admiral Markets was established in 2001 and considers themselves as a trading and investment ecosystem. The brokerage account has a variety of features and offers users the possibility to trade and invest in over 8000 different market instruments.

These comprise of CFDs for forex, commodities, indices, stocks, ETFs and bonds. Admiral Markets has many account types that offer different trading instruments, and varied parameters for leverage, account currencies and deposit & trade amounts.

Users will want to evaluate which account type is best suited to their requirements before signing up. Admiral’s trading platform connects through both MetaTrader 4 and MetaTrader 5, and also offers spread betting exclusively to UK clients.

Admiral Markets Fees

74% 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.

5. Pepperstone – Best  spread betting platform in the UK for tax-free trading

Pepperstone is a popular platform for CFD trading and spread betting. The platform is most suitable for experienced traders who are looking to implement an active strategy.

To support this, Pepperstone provides access to MT4, MT5 and cTrader. The broker also offers a demo account as well as live market data.

Pepperstone Fees

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.3% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

6. Trade Nation – Spread betting broker that offers regulated signals software

Trade Nation is a regulated broker that offers spread betting, CFD trading, forex trading and access to major indices.

Traders can choose between the TN Trader platform or MT4 to conduct analysis and place trades. Trade Nation is available on both desktop and mobile for a seamless trading experience that suits all traders.

The platform provides traders with numerous educational resources and charting tools to help users make informed trading decisions. Trade Nation also provides real-time market insights from experts. Users can access Trade Nation’s customer support services 24/5.

Trade Nation Fees

77% of retail investor accounts lose money when trading CFDs with this provider.

7. Eightcap –MetaTrader4 broker that offers a user-friendly mobile app

Eightcap is a relatively new broker that has quickly become the go-to choice for many online traders. For starters, it offers a fantastic range of assets, including CFDs for forex, indices, stocks and commodities, so it accommodates traders of all preferences.

Another highlight is that Eightcap is compatible with both MT4 and MT5, allowing users to have access to the wide range of advanced trading tools available on these two platforms.

Eightcap Fees

There is no guarantee that you will make any profits with this provider. Your money is at risk.

8. Fineco Bank – Best long-term trading platform for stock and ETF trades

For traders looking to create a portfolio that covers both UK and international assets, Fineco Bank could be the way to go. Fineco Bank offers a huge library of financial markets. This covers traditional assets, like stocks, ETFs, and funds. Not only does this include companies on the FTSE 100 and FTSE 250, but AIM stocks, too.

Further afield, Fineco gives access to dozens of non-UK exchanges. This includes markets in the US, Canada, Asia, Europe, Australia, and more. For traders interested in a shorter-term day trading strategy, Fineco offers thousands of CFD markets. As well as stocks, this includes forex, hard metals, energies, indices, and more.

Fineco Bank Fees

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63.28% of retail investor accounts lose money due to CFD trading with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

9. IG – UK trading platform with more than 17,000 assets available and commissions from 0%

IG Trading is a UK trading platform that supports long-term trading. Launched in 1974, the brokerage firm is one of the most established in the UK trading scene. In fact, the platform is listed on the London Stock Exchange with a market valuation of approximately $3 billion. By opening an account with IG, traders will have access to thousands of traditional assets.

IG Fees

There is no guarantee that you will make any profits with this provider. Your money is at risk.

10. Hargreaves Lansdown – Reputable brokerage account for long-term stock market investing

Like IG, Hargreaves Lansdown is a long-standing, reputable UK broker. It’s slightly different from newer online platforms in that it’s mainly focused on stock trading and investing.

Hargreaves Lansdown offers a wide range of services – share dealing accounts, stocks, and shares ISAs, including stocks ISAs, lifetime ISAs, junior ISAs, and cash ISAs, and pensions. Traders can invest in everything from stocks and ETFs to investment trusts, funds, bonds, and gilts. There’s a huge range of shares, ETFs, and funds to choose from, allowing users to invest in companies from all around the world.

Hargreaves Lansdown Fees

There is no guarantee that you will make any profits with this provider. Your money is at risk.

11. Saxo Markets – Uk based trading platform with over 40,000 instruments

Saxo Markets is authorised by the UK Financial Conduct Authority (FCA) and is a popular trading platform for CFDs. Users can trade forex, ETFs, CFDs, commodities, futures, forex options, listed options, stocks, and bonds, with Saxo Markets offering up to 1:30 in leverage.

Saxo Markets also offers its own proprietary charting tools: SaxoTraderGO and SaxoTraderPRO. The difference between them is that the PRO version allows the possibility to place algorithmic orders.

Saxo Markets Fees

There is no guarantee that you will make any profits with this provider. Your money is at risk.

12. Interactive Brokers – The best UK trading platform for advanced trading strategies

Interactive Brokers is a popular brokerage for active traders who are looking to implement advanced trading strategies. This is because the platform comes packed with an abundance of supported markets and trading tools. Interactive Brokers gives you access to more than 135 markets in 33 countries. This means investors can trade stocks listed in the US, Canada, Europe, Asia, and more.

Interactive Brokers Fees

There is no guarantee that you will make any profits with this provider. Your money is at risk.

UK Trading Platform Assets & Software Comparison

Fees aren’t the only thing you’ll need to consider when choosing the right trading platform for you. Let’s take a look at how UK brokers match up in terms of tradable assets, software, and features.

{etoroCFDrisk} % of retail investor accounts lose money when trading CFDs with this provider. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more

Day trading platforms are used by active traders who are looking to take advantage of small price movements. These platforms often provide advanced price charts, tools for technical analysis, and live market data.

Most day trading brokers also offer CFD instruments, which allow customers to trade without buying the underlying asset. CFDs are suitable for short-term strategies because they allow traders to take a leveraged position.

Cryptocurrency exchanges

Not all UK brokerages will offer crypto assets. Instead, crypto traders may choose to use dedicated cryptocurrency exchanges which provide access to the decentralized finance market. Cryptocurrency exchanges provide traders with tools that can be used to research and analyze the crypto market. These platforms are also compatible with crypto wallets, which can be used to store crypto safely.

How To Choose An Online Broker in The UK

With hundreds of online trading sites available to UK residents, it is important to consider certain factors before opening an account. It is understandable that users may have different requirements and priorities when selecting the most viable platform. For example, some traders may wish to access specific markets such as UK forex or stocks, while others may have a preference for lower fees and commissions. Some traders may specifically be looking for a platform that can accommodate algorithmic trading.

Regardless of the preference there are many different features on offer when considering the right UK trading brokerage platform. To save our readers time, below we list some important features to consider that UK trading accounts present.

Regulation and Safety

To be regarded among the best UK brokers, a trading platform would need to be licensed by at least one reputable financial body. Ideally, this should be with the British Financial Conduct Authority (FCA) – which is responsible for keeping the United Kingdom trading and investment industry safe and transparent. By sticking with an FCA broker in the UK, users will benefit from a range of safety nets.

In addition to the above, those regarded as the safest trading apps also tend to be covered by the FSCS. This means that user funds are protected up to the first £85,000 – should the platform cease to exist.

Assets

There are thousands of financial instruments across dozens of asset classes that can be traded online. But not all UK trading brokers will give access to every single global marketplace.

To be considered among the leading trading sites in the UK, traders expect access to the following tradeable markets:

• Stocks
• Bonds
• ETFs
• Indices
• Funds
• Commodities
• Cryptocurrencies
• Forex

Furthermore, and perhaps most importantly, users should be considerate of whether the platform provides trading CFDs or allows users to buy the asset outright. If it’s a CFD instrument, the trader does not own the underlying asset. In turn, this does allow traders to short-sell with ease and apply leverage of up to 1:30.

{etoroCFDrisk} % of retail investor accounts lose money when trading CFDs with this provider. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more

For example, eToro offers 2,400+ stocks, 250+ ETFs, and 25 cryptocurrencies. It also allows trading of thousands of CFD markets, which in addition to the aforementioned, include forex, commodities, and indices.

Trading Platform Fees

Before choosing an online trading platform, it is important to understand the fees and commissions charged by the platform. Some platforms charge fees for trading, while others may have no fees, but instead charge a commission on each trade. It is important to compare the fees and commissions of different platforms to determine which one offers the best value. After all, the amount that traders need to pay to trade online can vary quite considerably.

The main fees to consider when seeking a suitable broker for UK traders are covered below:

Share Dealing Fees

Share dealing fees not only relate to the purchase of stocks, but other traditional assets like ETFs, mutual funds, and investment trusts. In all but a few rare cases, a chosen trading platform in the UK will charge a flat dealing fee.

This means that irrespective of how much is invested, the fee will remain the same. It goes without saying that this benefits investors that are looking to trade larger amounts.

• For example, let’s suppose that you signed up with popular UK stock broker Hargreaves Lansdown.
• If you purchased £150 worth of BT shares, the provider would charge you a flat dealing fee of £11.95.
• This means that in percentage terms, you’re paying a commission of almost 8%.
• Then, when you cash out your BT shares, you’d need to pay the £11.95 fee again.

Trading Commission

If users decide to trade assets via a CFD instrument, then the chosen platform will charge a variable fee. This is more beneficial to entry-level traders, as they won’t be penalised for placing small orders.

As always, the amount of commission to pay can vary depending on rates offered by different UK trading apps.

• For example, let’s say your chosen trading platform charges a CFD commission of 0.2% per slide
• If you stake £500, you will pay a commission of £1 to enter the position
• If you close the trade when it is valued at £750, your 0.2% commission will amount to £1.50

Sure, this might not sound like a lot to pay. However, these costs can quickly add up – resulting in profitable trades becoming somewhat unviable. This is especially the case when you use a trading platform that has a minimum commission policy in place.

Spreads

If you’re wondering how UK brokers make money when they don’t charge a commission – this comes via the spread. This is simply the difference between the buy and sell price of the financial instrument being traded.

• For example, let’s say a trader is trading Apple stocks on eToro
• The trading platform is currently quoting a ‘buy price’ of $135.10
• It is quoting a ‘sell price’ of $134.85
• Calculating the difference between the two prices gives us a spread of 0.18%

This means that when the trader opens the Apple trade on eToro, the position is instantly 0.18% in the red. In other words, the trade needs to increase in value by 0.18% for you to get back to the break-even point. In this example, a spread of 0.18% is very competitive.

Research and Analysis Tools

Online Brokers in the UK should provide users with a range of research and analysis tools that can be used to make informed trading decisions. This is helpful for novices when looking for trading sites that offer both beginner and advanced research tools as well as educational guides about how to use them.

For example, eToro offers real-time market insight, a financial news feed, expert analysis and helpful price charts that can be used to determine profitable trading opportunities. Advanced traders may also want to look for platforms that offer advanced charting tools and indicators for technical analysis.

Some good research and analysis tools to look for when choosing the most feature rich UK trading platform include:

Market News

Market news is helpful for determining potential trading opportunities. The news can have a huge impact on the price of stocks so it is important to be aware of  influential news stories. Reliable platforms should provide real-time news that is updated to reflect the most recent stories.

Real-time Market Data

Trading platforms should provide real-time market data that can be used to analyse stocks. The financial markets move quickly so it is essential that any data provided by platforms is up-to-date.

Price Charts

Most trading platforms will provide easy-to-navigate price charts. It is possible to use these charts to conduct analysis and make predictions about future price movements.

Guides and Educational Resources

Whether you are new to trading in the UK or you are an experienced trader who wants to improve your skills, it is helpful to choose a platform that provides educational materials such as in-depth guides. This can help improve trading skills and navigate the different functionalities of the platform.

Automated Trading

Automated trading is getting more and more popular in the online space. The main concept is that users can actively trade without needing to do any research. In fact, some automated trading tools will go one step further by placing orders on traders’ behalf. Not only does this suit traders with no experience, but those with little time to analyse the markets.

There are several ways in which trades can be automated. Some in the UK opt to purchase a trading robot, which is then installed into a platform such as MT4. In order to do this, traders will need to ensure that your chosen provider supports this third-party platform.

Demo Account

Demo accounts are invaluable to traders in the UK. These are offered by many platforms and allow traders to gain access to real market conditions without risking any money. Instead, users will be trading with paper funds.

For example, eToro offers demo accounts that come pre-loaded with $100,000. Traders will still have access to the same markets, prices, and trading volume – which is for testing the waters before making a real deposit. Even for users who have some experience of online trading, demo accounts are also used to try out new trading strategies.

Customer Service

It’s always good to consider what customer support channels are offered by the trading platform. Ideally, the provider should offer a live chat feature. Telephone support is also a notable feature as users can speak with a live agent in real-time. If, however, the platform only provides email support, then clients may have to wait several hours to receive a response.

How to Get Started with a UK Trading Platform in 2024

This section of our guide will show users how to get started with an online trading platform. We provide a walk-through of the process of opening an account, making a deposit, and placing first trades.

Step 1: Open a Trading Account

Head to the official trading platform homepage and navigate to the account set up option. You’ll first enter your name, email and choose a password.

Read the terms and conditions, privacy policy and accept those.

Step 2: Confirm Identity

You will need to verify your identity to meet anti-money laundering (AML) and KYC regulations.

To do this, upload a copy of your:

• Valid passport or driver’s license
• Utility bill or bank account statement (issued within the last 3 months)

You can upload these documents at a later date as long as you are not depositing more than $2,250 (about £1,700).

Step 3: Deposit Funds

If you want to use a demo account first, you can do this to get comfortable with how the trading platform works.

When you’re ready to trade with real money, you can choose from the following payment methods:

• Debit card
• Bank Transfer

Step 4: Search for a Trading Market

Once your deposit has been processed you can start. On the dashboard, click on the ‘Trade Markets’ button to see what assets are supported. Or, if you already know which asset you want to trade, search for it.

Step 5: Place a CFD Trade

Once you click on the ‘Trade’ button next to your chosen asset, an order box will appear.

You then need to fill in the following fields:

• Buy/Sell: If you think the asset will rise in value, place a buy order. Or, place a sell order if you think the asset will fall in value.
• Amount: Enter your stake into the ‘Amount’ box.
• Leverage: Apart from cryptocurrencies.

If you wish, you can also place stop-loss, trailing stop-loss, and take-profit orders on your trade.

To complete your trade, click on the ‘Open Trade’ button.

The Verdict

There is quite a bit of choice when selecting a suitable UK trading platform. Many of them have long entered the online trading marketplace and it is becoming increasingly accessible to invest online. Whether it’s stocks, forex, cryptocurrencies, or CFDs, online brokers in the UK provide access to thousands of global markets across different asset classes.

eToro has a wide user base in the UK and is available on both desktop and mobile. The platform offers access to a variety of asset markets, has substantially low fees, and offers copy trading.

{etoroCFDrisk} % of retail investor accounts lose money when trading CFDs with this provider. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more