Handling your stocks and shares from your mobile device–effectively having a dealing room in your pocket–would have seemed far-fetched until recently. Smartphones, on the other hand, are making this a reality. Private investors are increasingly adopting trading applications to manage whole investment portfolios, not just to make the occasional stock transaction.
Over the last two decades, investment platforms representing some of the greatest names in stock broking and fund management have responded to this requirement, primarily with desktop or laptop-oriented offerings.
Private investors, on the other hand, have made a considerable move from desktop to mobile trading in recent years. People use brokerage services to gain access to the financial markets and invest their portfolios in the hopes of achieving short and long-term financial objectives. Choosing a broker might be difficult because there are so many possibilities.
We’ve done a lot of the legwork for you because wading through all of this can be difficult. Whether you’re new to investing in stocks or a seasoned pro, here’s a look at the latest trading applications and how to pick the right one for you. Continue reading to learn more about the best trading apps for beginners in the UK.
5 Best Trading Apps For Beginners UK
- eToro: Overall Best Trading Apps For Beginners, Editor’s Pick
- Capital.com: Top Stock Apps With Best Commission Fees
- Ii: Popular Investment App In UK
- Alvexo: Best Trading Platform For Professionals
- Skilling: Reliable Stock App For Interactive Brokers
#1.eToro: Overall Best Trading Apps For Beginners, Editor’s Pick
eToro is based in the United Kingdom and marks its beginnings in 2007. It has over 17 million users in over 100 countries, with numerous registered members in 43 U.S. states and Washington, D.C. as of 2018. eToro began as a graphics-intensive forex platform, and it has now updated its features for cryptocurrency trading.
On various exchanges, non-US users can exchange other asset classes such as Contracts of Difference (CFD) and Shares. You can trade stocks and contracts for differences on EToro’s graphic-intensive site. The simplicity with which a client can execute copy trading is a fundamental element of our unique proprietary platform. Traders who wish to be imitated and who follow risk-control procedures can be found on the eToro site.
This accessibility, therefore, allows retail account holders to automatically and in real-time duplicate the trades and trading techniques of the most successful clients. It’s worth mentioning that copy trading does not guarantee profits or losses in and of itself. You’ll discover a website organized by topic where you may explore educational information regarding your eToro account, investing and trading, eToro wallet, banking transactions, and more if you select Help Center from the Company drop-down menu.
Features
You can use the website’s “The Complete Guide to Fintech” home page to conduct a broad search. If you’re keen to follow other active traders, you should read the chapter that explains how eToro’s Copy Portfolios work. Weekly webinars cover the fundamentals of trading equities, currencies, and cryptocurrencies. Under the Company page, you can also access eToro’s Media Center, which includes manuals, video tutorials, podcasts, and a blog.
Customers who trade equities do not pay a commission when they open or close a long position. A commission of 0.18 percent of the trade value is charged on short sales.
A currency conversion fee will be charged to consumers who purchase assets in a currency other than their home currency, including a U.K. customer purchasing a U.S. stock.
eToro supports 17 different cryptocurrencies. The experience of placing a trade on your mobile device is very much the same as placing a trade on a computer. Mobile apps have fewer analytical capabilities.
Simply click the “Trade” option while viewing the coin on your watchlist to place a trade. If you’ve purchased it in numerous lots, you can close the full position or just a portion of it.
Pros
- 15 cryptocurrencies that are available for trading 24 hours a day, seven days a week
- Website and mobile app are both easy to use
- For cryptocurrency traders, this is an excellent community
- Setting up a new account is easy and can be done online
- Trade placement is simple
Cons
- Cryptocurrency trading spreads are relatively wide
- No free stock trading app
Customers Experience
Customers found eToro to be very beneficial, and several have expressed their satisfaction with the platform’s functionality as well as the eToro staff with whom they’ve had contact. They believe that providing each consumer with a debit card that allows them to withdraw and produce amounts will substantially simplify things. Customers who have been clients for a long time have high expectations for future cooperation. They applaud Etoro as a fantastic trading platform and highly suggest it. ⇒ Visit the Official Website of eToro here
#2.Capital.com: Top Stock Apps With Best Commission Fees
Capital.com is one of Europe’s fastest-growing investment trading platforms, with trading volumes over USD 88 billion and close to 2 million registered clients to trade. This multi-award-winning global investment trading platform is authorized and regulated by the UK’s Financial Conduct Authority, the Cyprus Securities and Exchange Commission, and the Australian Securities and Investments Commission. It was named ‘Most Innovative Tech 2021’ by TradingView.
Those who trade with them can rely on the knowledge of over 800 employees dispersed among offices in London, Limassol, Minsk, Belarus, and Gibraltar. Their management team has extensive experience in the internet trading industry and a thorough awareness of the legislative and regulatory landscape.
They have a long history of developing technology that underpins financial systems. Other members of the team include renowned content specialists, top data scientists, and experts in the psychological effects of financial transactions. Capital.com employees believe in digital democracy, fintech, and the beneficial impacts that new technology may have on the world.
Capital.com complies with PCI Data Security Standards, encrypts your data with Transport Layer Security, and trusts RBS and Raiffeisen, two of Europe’s largest money managers, to store your cash in a segregated client fund account.
Features
Capital.com is a fast-emerging leader in the European leveraged trading market, known for its high-quality 24/7 customer service, seamless trading experience, and low costs.
Their clients can invest directly in global stocks and ETFs or trade CFDs with leverage across the world’s most prominent indexes, commodities, shares, and currency pairs, thanks to their access to over 6,400 markets. They also provide clients with access to major cryptocurrencies in markets where it is legal. Apple and Facebook, as well as the FTSE 100 and the EUR/USD, are just a few examples.
It claimed a global increase in trading activity, with total customer trading volumes increasing by more than 184 percent across all markets. These figures indicate the Capital.com group’s expanding reputation as a preferred platform for retail traders around the world.
Everything they do is tailored to the needs of their clientele. Their award-winning, user-friendly platform is designed to make trading smarter, easier, and more intuitive. You can use their best-in-class AI technology to analyze your trading behavior and assist you in making more profitable trading selections. You’ll never lose more than you put in with stop-loss, take-profit, and negative balance protection.
Pros
- Best data protection measures
- No hidden fees
- Regulated by the FCA and by the CySEC
- Educational material with Investment
- Access to over 70 technical indicators
- Award-winning platform
Cons
- High stock index CFD fees
Customers Experience
When compared to other CFD brokers, customers believe Capital.com has a large selection of CFD products. They like Capital.com’s desktop trading interface and appreciate how flexible it is, as well as how it provides price notifications. Customers also appreciate Capital.com’s mobile trading interface, which they find to be user-friendly. They like the modern design, two-step login, and price notifications. Customers appreciate that Capital.com offers free deposits and withdrawals, as well as a variety of payment alternatives such as Apple Pay and PayPal.
#3.ii: Popular Investment App In UK
Interactive Investor is a 1995-founded internet investment business in the United Kingdom. It offers financial data as well as investment resources. Alliance Trust Savings was acquired in 2018, and its customers were transferred in October 2019. Interactive Investor also bought the Share Centre in July 2020 and part of Equiniti’s customer book in 2021 (previously Selftrade).
The Financial Conduct Authority regulates Interactive Investor (ii), the UK’s second-largest brokerage (FCA). Since it has a long track record and is regulated by a top-tier regulator, Interactive Investor is regarded as safe.
At ii, they feel that investing should be straightforward and accessible to everyone at ii. They want to assist you to take charge of your financial future, and if they can, ii will prosper.
With their consumers and each other, they are upfront, honest, and transparent. ii believes in open, reasonable fees, and they’re leading the struggle against the financial industry’s opaque and convoluted costs.
They give their customers the assistance, intelligence, and investment options they need to make better decisions. They speak in simple terms and make and keep their promises. And they do everything they can for their customers, making every attempt to provide them with the finest possible service.
Features
Interactive Investor combines fixed fees with a respectable customer score to provide a cost-effective service for people with medium-to-large portfolios (£50,000 or more). It also has a competitive share trading rate, particularly for large portfolios. Interactive Investor’s Super Investor package, which provides two free share trades every month, is a good option for frequent share traders.
The trading platforms are well-designed and user-friendly. Deposits and withdrawals are simple, quick, and, for the most part, free. Customer care responds fast if you need help over the phone. Trading expenses at Interactive Investor are average, with modest fund fees, and regular investments are free. A monthly account fee, on the other hand, is charged. Trading fees at Interactive Investor are typical.
You have three fee options to select from, each with its own monthly account fee and fees for trading specific products. Every month, Interactive Investor gives a free credit of £7.99 to each plan member, which can be spent on any trade. Each free credit has a 90-day expiration date.
Interactive Investor offers ISA and SIPP accounts to UK investors. SIPP accounts are free to open, although they typically cost £10 per month unless there is a special offer.
Pros
- Fast
- Fully digital
- No minimum deposit
- Low fund fees
- Regular investments are free
- User-friendly trading platforms
- Fast and easy deposit and withdrawal
Cons
- Monthly account fee
- Limited product portfolio
Customers Experience
Customers who are new to investing appreciate Interactive Investor’s Quick Start Funds option, which allows them to begin investing with low-cost investment funds that have been pre-selected by their experts. They also advocate using the ii Super 60 investments function, which allows you to quickly screen through a variety of funds, investment trusts, and exchange-traded funds (ETFs) that have been short-listed by Interactive Investor’s independent Investment Selection Committee. Other features that customers find useful include price alerts, the establishment of watch lists, and the news feed option.
#4.Alvexo: Best Trading Platform For Professionals
Alvexo is a well-established broker with a strong emphasis on education and customer service. They use a two-pronged approach that is at the cutting edge of technology and platform innovation to provide traders with what they want most: long-term trading satisfaction. Alvexo’s goal is to empower and educate their ever-growing customer base by giving them access to cutting-edge technology that will help them assist their clients’ endeavors and promote fast, timely, and reliable trading. They provide a variety of services aimed at improving trading abilities.
VPR Safe Financial Group Limited, doing business as Alvexo, is dedicated to safeguarding the interests of its investors. As a result, the Cyprus Securities and Exchange Commission (CySEC) license number 236/14) supervises and regulates them.
Security of finances is a top priority for Alvexo, which it tackles with the strictest compliance to industry standards. To provide client peace of mind, account funds are segregated, and transactions are conducted using the most up-to-date digital security methods. At Alvexo, customer service is a cornerstone on which the trading community flourishes. The knowledgeable staff at Alvexo understands the necessity of providing traders with timely, courteous, and effective solutions to their demands, requests, and inquiries.
Features
Alvexo offers a wide range of trading conditions, platforms, and pricing that is included in the spreads or commissions. As a result, by trading a variety of products at Alvexo, you may also take advantage of the powerful tool leverage, which can help you maximize your potential returns by allowing you to employ multiple beginning account balances. However, be cautious to understand how to use the instrument wisely, as high leverage can also increase hazards if it is used incorrectly.
The Alvexo leverage levels are determined by the item you trade and the regulatory limits that apply to it. As a result, while dealing with a CySEC-regulated European firm, you can use lesser leverage, up to 1:30 for major currencies, 1:20 for minor currencies, and 1:10 for commodities.
Another Alvexo firm in Seychelles may offer increased leverage rates for some key currency pairs up to 1:400. Alvexo created five accounts with different investing choices based on the needs and components of each one.
Alvexo’s trading instruments include CFDs, stocks, indexes, commodities, and currencies, as well as a newly announced tool called Cryptocurrencies trading. Depending on the account type, additional services are available, with larger bank accounts offering more services, dedicated support, and, of course, better prices.
Pros
- Flexible trading conditions
- Variety of platforms
- Pricing integrated with a spread or commission
- Investment services adapted to the needs of the customer
- Live customer support
- Latest software innovations
Cons
- The proposal might be different depending on the regulation
Customers Experience
According to client feedback, Alvexo is a decent company for trade with few issues. However, the majority of them will undoubtedly suggest the site to everyone in this sector. They enjoy that the platform is highly comprehensive and that you have access to a financial counselor who can help you with your investing. They also like that Alvexo gives a beginner’s course and that the account manager is always available; the only issue they had was with the cash withdrawal. Customers recommended it to anyone interested in learning how to trade.
#5.Skilling: Reliable Stock App For Interactive Brokers
Skilling is a fintech company based in Scandinavia with a single goal: to make trading simple and accessible to anyone in a secure and transparent environment. Skilling does not believe in trading for the sake of trading. They trust in trading for the benefit of all. Skillin is situated in three sunny locations: Cyprus, Malta, and Spain, and is developing a new trading platform from there.
Their headquarters are in Nicosia, Cyprus, and the Cyprus Securities and Exchange Commission has granted them a license. Skilling allows you to trade over 800 forexes and CFD financial products, including currency pairings, stocks from your favorite firms, popular commodities, and global indices. Forex or contract for difference is used in all trading.
On the Skilling platform, you can trade on your computer, mobile device or by installing their app from App or Store Google Play. Its mission is to make the world’s financial markets more accessible to everyone. They believe that everybody with a financial market interest should be able to access and utilize their full potential.
Skilling is on a quest to establish a one-of-a-kind trading platform that caters to traders of all levels, from novices to seasoned pros. Skilling wants to build a service that brings everyone to the global financial markets and shows them their potential.
Features
Skilling is a multi-asset trading platform that offers over 100 tradable assets. Forex, CFDs, Stocks, and Cryptocurrency are among the assets accessible on Skilling. Skilling trades a variety of financial assets. In the context of financial investing, an asset is any tangible or intangible security or asset with a monetary value. Forex, CFDs, Stocks, and Cryptocurrency are all considered financial assets in this sense.
Skilling provides renowned analysts’ research-based financial market and investing analyses. The Skilling platform can be used on a variety of devices, including iOS devices such as iPhones and iPads, Android smartphones, and online via a web browser.
Skilling is a simple-to-use trading platform with tools for both new and experienced traders. Skilling users get access to the platform in more than 12 different languages. A $100 minimum deposit is required for Skilling.
To get a feel for the Skilling platform, you can sign up for a demo account. Skilling is controlled. This means that Skilling is regulated by the CySEC, CIF license number 357/18, and the Financial Services Authority (FSA) under license number SD042. Market prices will not be manipulated by regulated brokers. Skilling’s controlled status could be taken away if they break any regulatory rules.
Pros
- Over 5,000 Skilling users and traders use it
- Reputable broker founded in 2016
- Regulated by CySEC and FSA
- The minimum deposit is from $100
Cons
- Not FCA regulated
Customers Experience
Customers appreciate Skilling’s good service and quick response! For newcomers to crypto-trading, the platform appears to be quite promising. Some users claim that after contacting the live chat, the matter was fixed quickly, and they were repaid within three days. Excellent customer service. Skilling is ideal for all inexperienced traders.
How We Made the List Of Best Trading Apps for Beginners UK
We are committed to providing you with honest, comprehensive trading apps reviews and evaluations. Our ratings are based on a thorough examination of all areas of an online broker’s platform, including user experience, transaction execution quality, products available on the platform, pricing and fees, security, mobile experience, and customer support.
We created a scoring scale based on our criteria and gathered data points to consider when compiling this list. These are the factors we took into consideration when making this list:
Trade Experience
The complete method for placing an order was used to analyze this factor. A process that develops logically from one stage to the next is a major focus in this category. We looked at how a trader is notified when an order is filled, such as pop-up notices, an order status update, and/or a text message on a mobile device.
This criterion looked at how users can personalize their experience across the many platforms that a broker provides. We also looked at the overall workflow of desktop and web platforms, as well as the general workflow of mobile platforms, the customizability of the trading experience, chart trading features, real-time streamed quotations, and the ability to stage and enter multiple orders.
Trading Technology
We assessed the data quality accessible during the order input process, with a focus on real-time streaming data. To get high scores in this category, price-improvement tactics and smart-order routing technology must be available.
We looked to see if a broker’s order routing engine was spray or sequential; spray routing contacts numerous venues at the same time and is less likely to execute orders via routes that pay for order flow. Brokers who offered price improvement—a sale above the bid price or a buy well below the offer price—were given a fraction of a point for each transaction that benefited.
Usability
While the trade experience analyzes the trading and investing workflow, we examined the overall site navigation and simplicity of use with this factor. We looked for easy navigation of downloadable software, web platforms, and mobile apps, as well as a variety of adjustable features that allow users to personalize the platform to their specific needs.
We made sure of simple and quick account creation, as well as a ubiquitous order ticket that can be found throughout the platform. We also verified that all order types offered on the major platforms are also available on the mobile apps, that watchlists maintained on mobile carry over to the other platforms and inversely, and that users can get real-time streaming price quotes, research, and news.
Range of Offerings
We looked at how many asset types a customer of a brokerage may trade online. We gave partial points for investments that can only be traded by calling a live broker, and we gave full points for the ones that can only be traded by contacting a live broker. We don’t award points for long and short stock trading or single-leg options trades because these are now standard.
Research Amenities
We checked the research, quotes, and graphing for quality and accessibility. We looked for research, headlines, and charts that were linked to a customer’s portfolio and watch lists, as well as the quality of proprietary and third-party research and its connectivity with the rest of the site and screeners.
How brokers earn cash for you and from you
Most online brokers’ business models have altered as a result of the demand for zero fees. The method brokers make money from you in place of fees is less evident, as are some of the more subtle ways they create money for you. We looked at cash interest, order flow payment, stock loan programs, and portfolio margin.
Buying Guide for Best Trading Apps for Beginners UK
You must consider your immediate demands as an investor or trader when selecting trading apps. If you are a novice, you may require the services of a broker who can provide you with excellent educational materials on the stock market and other financial marketplaces.
A lot of brokers also provide paper trading before establishing an account, allowing you to familiarize yourself with the interface, sample the various assets, and practice trading without risking real money. Here are a few tips on what to look for when selecting trading apps.
Customer Service
When selecting trading apps, you should check the customer service. You must observe how the process works when something goes wrong or when you require more assistance. Check to determine whether the online assistance is easy to find and use, if it is context-sensitive, if there is live chat, if there are user guides, and if there is a frequently-asked-questions section. You should also check for fast phone wait times, the possibility to contact a broker in person, and the system’s ability to handle trade surges.
Online Brokerage Account
A brokerage account is a financial account that functions similarly to a bank account. A brokerage account allows you to deposit money with a financial institution (the brokerage). This is normally accomplished with a transfer from your current bank account. Once funds have been added to your brokerage account, you can put them to work by investing them in the market through the brokerage’s trading interface. You can invest your money in everything that that brokerage offers, including stocks, bonds, ETFs, and even cryptocurrency.
Your holdings or the assets you’ve purchased and cash balance will be displayed in your online brokerage account or your buying power. You can sell something that is appreciated in value, and the earnings will be placed in your online brokerage account. You can then place another transaction or withdraw the funds to spend elsewhere in your regular bank account. You can even earn interest on your uninvested funds in some brokerage accounts.
Education
You should check to see if the trading applications provide educational resources so that you can advance as a client. Educational films, webinars, articles, live educational events, and information on life events that might have a substantial impact on financial problems, such as inheritance or divorce, are all things to look for. Traders and investors should also look for glossaries of finance and brokerage language to better comprehend how they engage with the market.
Costs
You must grasp the concept of commission-free equity trading, which has become the industry norm. Brokers who still demand a commission on equity trading will be left behind.
Check to verify if the trading apps charge no commissions on equities trades, no per-leg fee for options trades, a low cost for options contracts, and mutual fund transactions under $10 for funds that aren’t on a no-transaction-fee list.
You should also look for margin interest rates below 7%, low (or no) fees for mandatory corporate actions, no account maintenance, inactivity, account transfer, account closure, wire, check, reorganization, or software access fees, and no account maintenance, inactivity, account transfer, account closure, wire, check reorganization, or software access fees.
Security
You should check the broker’s security features as well as the broker’s sense of commitment to maintaining its clients’ personal information safe. You should look for two-factor authentication, security measurement statistics from third-party evaluators, and high password strength requirements are all things to look for. Sign-in by biometric identity (fingerprint, retina, face ID) on mobile devices, as well as extra SIPC insurance, should be on your requirements list.
Frequently Asked Questions On Best Trading Apps for Beginners UK
What’s the difference between Trading and Investing?
When people say investing, they usually mean purchasing assets with the intention of holding them for a long time. The purpose of investing is to accumulate money over time and accomplish your retirement objectives. Trading, on the other hand, incorporates short-term methods that aim to maximize returns over a short period of time, such as daily or monthly. Trading is thought to be riskier than investing.
All of these variables should be taken into account when selecting an internet broker. Do you want to invest or trade? Do you want a nice mobile app that allows you to check your portfolio from anywhere? What kind of assets do you want to put your money into?
Is it possible to get started trading with $100?
Yes. Most online brokers now allow you to start an account with no minimum deposit, commission-free stock and ETF trading, and fractional shares. Therefore, new market participants can begin trading with as little as a $100 deposit. Use an online broker comparison tool to evaluate features and pricing.
What factors should I consider when selecting the best stock trading app?
We propose examining other features to find the best stock trading app now that all stock applications allow $0 stock trades. Watch lists, stock charts, and order tickets are the most commonly utilized stock app features, so make sure they’re outstanding. This article includes a buying guide to assist readers.
What types of investments are available with free trading apps?
The best free stock trading featured below will allow you to purchase stocks. However, the investing universe offered may vary depending on the app. Some programs, for example, allow you to trade OTC stocks, while others do not. In addition to U.S. exchanges, others allow you to buy equities directly on overseas stock markets. Some allow you to buy and sell options and mutual funds, while others simply allow you to trade stocks.
Moreover, some of these applications provide automated investing or Robo-advisory services, which basically design and manage your investment portfolio for you. The final line is that investment choice differs from one trading software to the next, and this should be considered.
What are free stock trading apps?
Apps for stock trading work in the same way that regular brokerage accounts do. You can begin buying and selling stocks as well as other investments after downloading the mobile app and signing up. Some individuals choose to register initially on their PCs.
The majority of these apps do not require any initial deposits, while others have very cheap ones. You’ll need enough money to acquire at least one complete share of the stock you want to trade using some stock trading applications. Other programs enable fractional trading, which allows you to purchase a fraction of a stock.
For some users, one disadvantage of mobile stock trading apps is that the small screens might be difficult to navigate. For these individuals, downloading the app on a tablet or using the desktop version is the best option.
Nevertheless, most consumers believe that the advantages of stock trading applications exceed the drawbacks. You may manage your investments from everywhere with mobile apps as long as you have the internet. You can get stock news and other information if you opt to keep notifications turned on.
Is it feasible to purchase stocks without the assistance of a broker?
Yes, you can purchase shares without using a broker, but this is not a usual practice nowadays. Some companies currently offer direct stock purchase schemes, which allow you to acquire stock from the company directly. These plans are administered by companies according to corporate policies, and some are exclusively available to company personnel.
To find out if a company offers a direct stock purchase plan and what the terms and restrictions are, you must contact them. These arrangements were once useful for avoiding brokerage fees, but the development of online discount brokers with no fees has eliminated this barrier, making the direct stock purchase plan a relic.
How can I learn to trade stocks on my own?
Stocks should not be traded solely on educated estimates or gut feelings. Before trading stocks, it’s critical to understand basic concepts and how to analyze them. You should take classes or have a mentor instruct you if possible. It is, nevertheless, feasible to learn how to trade stocks independently.
Studying successful investors like Warren Buffet can be beneficial. You can also learn about investing by visiting investment websites, reading books, articles, watching movies, and listening to news programs. Practice is one of the most effective ways to learn about stock trading.
Conclusion: Best Trading Apps for Beginners UK
As we’ve stated throughout our reviews of online trading apps, every investor is different and has different needs depending on their objectives. Given the knowledge we had at the time, we believe our extensive review process covered those demands as comprehensively as feasible. While there will always be exceptions, we are certain that we have used the most effective methodology to evaluate and rank trading apps based on the most common use cases among online traders and investors.
After reading this article, you should have a good idea of what things to look for in a options trading app and which ones are the best. If we had to choose, we’d go with eToro because of its low costs and CopyTrader capability. This allows you to effortlessly benefit by copying the successful trades of more experienced traders.
All of the other trading applications on this list have excellent features; therefore, we strongly advise you to look into them all before making a final decision. You are the one that knows best what’s in your best interest, and we are sure that you will make the right decision and choose the best stock trading apps that will fit your needs.
