Best Trading Apps in the UK 2024

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You can trade and manage your positions from anywhere and at any time, whether you are lounging on your couch after a stressful day, commuting to work, taking a trip, etc. All you need is a reliable trading app. But that’s where the problem is. So many trading apps are available in the UK. And that makes finding a perfect fit a challenging task.

But fear not. Finance Raters is here to save the day. We’ve gone through the trading apps available in the UK and cherry-picked the top 5 just to make your work easier. We want you to spend more time perfecting your skills and trading, not sifting through hundreds of apps.

Our list of the best trading apps in the UK consists of platforms we tested and picked based on our experience. This guide does not have biased or ungrounded opinions.

In a Nutshell

  • Hundreds of UK brokers have trading apps, making picking a good platform a nightmare.
  • Choosing the right trading app is the key to success, so you can’t skip this process.
  • While looking for the ideal trading app, you must consider factors like regulation, fees, product offerings, and supported platforms.
  • Our experts used these factors to compare trading apps in the UK and identify the most outstanding platforms.
  • We prepared this guide after spending many days researching UK trading brokers and testing their apps. Use this unbiased and informative content to find a trading app that will help you achieve your trading and investment goals.

List of the Best Trading Apps in the UK

  • PepperstoneBest App for UK Forex Traders
  • eToroBest Overall Trading App UK
  • AvaTradeBest Trading App for Beginners in the UK
  • FP MarketsBest app for CFD Trading in the UK
  • SpreadexBest App for Spread Betting in the UK
In This Guide

Compare Trading Apps UK

Innumerable trading apps are available for download in the UK. That made picking the best platforms arduous, but we tackled it expertly. Our seasoned pros put the most popular apps to the text and vetted them extensively. We weeded out sub-par service providers and isolated the most outstanding based on several factors, including licensing and security, fees and commissions, and customer support.

We’ve compared the best trading apps UK based on the vital elements below.

Best Trading Apps UKLicense & RegulationSupport ServiceSoftwarePayment MethodDemo Account
PepperstoneFCA, ASIC, FSCA, DFSA, CySEC, CMA, SCB, BaFin24/7TradingView, MT4, MT5, cTrader, Pepperstone Trading Platform, Social tradingVisa, Mastercard, Bank transfer, Neteller, Skrill, PayPalYes
eToroFCA, CySEC, FSCAASIC, SFSA ADGM, MFSA, FSAS, GFSC, SEC24/5eToro investing platform and app, Multi-asset platform, Social Trading, Copy Trader, Smart PortfoliosCredit/ debit card, Bank transfer, Klarna, PayPal, Skrill, Neteller Yes
AvaTradeFCA, FSCA, CBI, CySEC, PFSA, ASIC, B.V.I FSC, FSA, ADGM, ISA24/5WebTrader, AvaOptions, AvaTrade App, Mac Trading, MT4, MT5, Automated TradingCredit/debit cards, Neteller, Skrill, Wire transfer, WebMoneyYes
FP MarketsFCA, FSCA, ASIC, CMA, CySEC, FSA24/7MT4, MT5, TradingView, cTrader, WebTrader, Mobile App, Copy TradingDebit/credit card, Neteller, Skrill, Bank transfer, Google Pay, Apple Pay Yes
SpreadexFCA24/5Online platform, Mobile trading, Charting package, TradingViewCredit/debit cards, Apple Pay, Bank transferNo

Apps Overview

We didn’t consider the factors in the table above exclusively. As experts in our field, we understand that trading with a cost-friendly app that has all the assets you need is crucial. After all, raking in returns can be challenging when trading with a platform that doesn’t have your desired instruments. Moreover, interacting with a costly service provider is detrimental to your earnings.

The tables below have outlined the fees and assets we discovered while reviewing the best trading apps in the UK.

Fees

Best Trading Apps UKMinimum Deposit RequirementCommission/ SpreadsDeposits/ WithdrawalsInactivity Fee
Pepperstone£0From 0.0 pipsFree£0
eToro£100From 0%£5 withdrawal fee£10 monthly
AvaTrade£100From 0.13 pipsFree£50 after every 3 consecutive months of inactivity
FP Markets£100From 0.0 pipsFree£0
Spreadex£0£3.50 per lotFree£0

Assets

Best Trading App UKStocksForexCryptocurrenciesCommoditiesIndicesETFsOptions
PepperstoneYesYesYesYesYesYesNo
eToroYesYesYesYesYesYesYes
AvaTradeYesYesYesYesYesYesYes
FP MarketsYesYesYesYesYesYesYes
SpreadexYesYesYesYesYesYesYes

Our Opinion about UK Trading Apps

We consider the trading platforms outlined here the best in the UK because they possess numerous admirable qualities. For starters, they give users access to a wide variety of popular financial instruments and trading instruments. Many also have reasonable minimum deposit requirements, fees, and commissions.

But we didn’t limit ourselves to testing these apps and gathering first-hand experience. Our team also selected them after reading hundreds of reviews and user feedback on Trustpilot, the App Store, and the Google Play Store.

At Finance Raters, our primary mission is to provide accurate and unbiased information to our readers. We are here to help you find a trading app that will cater to all your needs and fuel your success. With that in mind, here is all you need to know regarding the best trading apps in the UK.

1. Pepperstone – Best App for UK Forex Traders

If you are one of the 10 million+ people who trade forex, get the Pepperstone app. With it, you’ll have uncapped access to over 90 currency pairs. What’s more, it will give you the opportunity to diversify with 1200+ CFDs on different instruments, including shares, commodities, and ETFs.

The Pepperstone app is available to IOS and Android users. With it, you can enjoy spreads as low as 0.0 pips while trading popular pairs like GBP/USD, AUD/USD, and EUR/USD. The best is that you can start trading forex with whatever your budget allows since Pepperstone doesn’t have minimum deposit requirements. The app’s users also get to enjoy free deposits and withdrawals.

As a Pepperstone app user, you also get access to knowledgeable support technicians available 24/5 and a host of in-app features, from one-click trading to customisable watchlists.

Pepperstone

✔800+ instruments
✔No minimum deposit requirement

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2,510 User Reviews
google
4,260 User Reviews
apple
1 User Reviews
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Our Rating
Total Rating:
6,771 User Reviews
Pros & Cons
Fees
Trading Assets

Pros

  • 90+ tradable currency pairs available
  • User-friendly and customisable interface
  • Instant and free deposits and withdrawals
  • No inactivity fees
  • Amazing features like one-click trading
  • Supports advanced platforms like MT4 and TradingView

Cons

  • Limited asset offerings compared to its peers
  • Only FX pairs and CFD assets are available

We identified numerous fees and costs on Pepperstone. First, from our exploration, we discovered that Pepperstone users are subjected to spreads and commissions that vary depending on market conditions and account type. This platform has two accounts: Standard and Razor. Both are associated with different charges and conditions. For instance, Razor accounts only attract commissions when users trade CFDs on Forex.

Pepperstone also charges overnight funding, which kicks in when a trader holds a position in commodities, equities, indices, metals, or cryptocurrencies overnight after 5 p.m. New York Time. This broker’s overnight funding charges vary depending on different factors, including underlying TomNext rate changes.

But here’s the best thing you can derive from our Pepperstone broker review, especially where fees are involved. Pepperstone doesn’t charge account inactivity fees. Moreover, this platform doesn’t charge a single dime for deposits and withdrawals. Furthermore, this broker has no minimum deposit requirements.

The product offerings on Pepperstone didn’t disappoint. This broker allows traders to open a universe of possibilities with diverse assets. We saw over 800 CFDs on this platform, including:

  • Commodities: Pepperstone allows traders to trade a wide variety of commodities. Available options include cotton, coffee, sugar, orange juice, cocoa, and more. Precious products like silver, gold, palladium, and platinum are also offered. You can use any of these assets to diversify your portfolio and minimize risk exposure, especially during market turmoil. The best part is that Pepperstone’s commodities come with zero commissions.
  • Forex: Are you a forex enthusiast? Check out Pepperstone’s products; we did, and they were impressive. This broker has everything, from majors to minors and exotics. Moreover, the platform lets you dive into forex trading while enjoying competitive spreads and low commissions. That’s not all. While trading forex on Pepperstone, you get flexible leverage and high-quality execution.
  • Indices: Pepperstone’s trading platform is chock-full of tradeable indices. They offer you the golden opportunity to capitalize on the movement of 14 major global stock markets. Pepperstone’s indices have no hidden markups, re-quotes, or dealing desk.
  • Currency indices: Pepperstone gave us ample opportunity to profit from shifts in the value of different currencies against baskets of other currencies. The platform did that through currency indices.
  • Shares: Upon joining Pepperstone, you can go short or long on a variety of top US shares. Available options range from Alibaba and Boeing to Apple and Tesla. Note that you need MetaTrader 5 to trade shares on Pepperstone.

3. eToro – Best Overall Trading App UK

The eToro app is nothing short of phenomenal, which is why it’s our overall best trading app UK. We love it because, first, it comes with over 5,000 assets. If you are a fan of contract-for-differences, you can use this app to trade CFD on currencies, commodities, indices, and more. Moreover, you get to elevate your experience with advanced charts, real-time price quotes, and flexible leverages.

And here’s the best part: eToro also embraces investors. Besides trading with this app, you can invest in shares from top-range companies like Apple as well as a broad range of 300+ ETFs. The eToro app is perfect for traders and investors who prioritise diversifying with different assets.

We can’t forget that eToro supports social and copy trading. You can use this terrific platform with an Android or IOS device.

eToro

✔ 5,000+ instruments
✔ Features social and copy trading

Visit site
{etoroCFDrisk}% of retail investor accounts lose money when trading CFDs with this provider.
Read review
trustpilor logo
23,875 User Reviews
google
139,000 User Reviews
apple
29 User Reviews
financeraters logo
Our Rating
Total Rating:
162,904 User Reviews
Pros & Cons
Fees
Trading Assets

Pros

  • User-friendly app with fantastic features and capabilities
  • Supports portfolio diversification with real stocks and ETFs
  • Responsive and knowledgeable customer support
  • It comes with a demo app with £100,000 in virtual funds
  • Zero commission for trading and investing in stocks and ETFs

Cons

  • Does not support third-party platforms like the MT4
  • Withdrawal fee applies

eToro doesn’t charge any account registration or deposit fees. We signed up and funded our account without incurring any costs. Of course, we had to adhere to eToro’s minimum deposit requirements, which vary depending on geographical location. For instance, the minimum amount you can deposit in your eToro account is $100 in the US or the UK. On the other hand, people in countries like Germany and Greece can deposit as little as $50. Visit eToro’s minimum deposit page to find out more.

That said, we encountered several eToro fees and expenses during our exploration, including:

  • A $5 fixed withdrawal fee: According to eToro, this fee is indispensable in covering international money transfer costs.
  • Currency conversion fees: All eToro accounts are USD-centered. If you fund your account or withdraw money using any other currency, expect to pay conversion fees. The charges vary depending on PIPs and payment methods. Luckily, traders can join the eToro club and enjoy significant discounts.
  • A $10 monthly inactivity fee: If you fail to log into your account for 12 or more months, you will incur a monthly $10 fee.
  • Crypto fees: eToro requires crypto investors to pay a 1% buy/sell fee. As an investor, you must also cover market spreads, which vary depending on market conditions. Transferring crypto to your eToro Money digital wallet also attracts a 2% fee. The crypto asset transfer fees are capped at 1$ minimum and a $100 maximum.
  • CFD spreads: Like many other brokers, eToro has CFD spreads that vary depending on assets and instruments.

eToro is chock-full of product offerings. From our exploration, we unearthed the following:

  • Stocks: We explored eToro’s stock offerings and encountered many juicy options commission-free. They include Apple, Microsoft, NVIDIA, and Meta.
  • Indices: After joining eToro, you can follow and invest in indices from multiple leading global markets. The indices on this platform vary from SPX500 to NASDAQ1OO and GER40. We recommend such indices to investors looking to diversify their portfolios and minimize risk exposure.
  • ETFs: eToro offers a wide variety of exchange-traded funds (ETFs). This platform has hundreds of ETFs, including popular options like SPY, VOO, INDA, and QQQ. The best thing about these products is that they are ready-made. Investing in them means you won’t have to spend time and energy cherry-picking assets individually.
  • Currencies: Our team discovered over 40 currency pairs on eToro. We tested a few popular options, including EURUSD, USDJPY, AUDJPY, USDCAD, and EURCAD. We also found numerous exotic pairs on this platform, such as EURHUF, USDTRY, EURPLN, and USDILS.
  • Commodities: eToro gives traders uncapped access to 40+ commodity markets, making it a superb platform for speculators or retail investors. Through this broker, you can trade and invest in commodities such as gold, oil, silver, corn, platinum, cocoa, and palladium.
  • Cryptoassets: eToro has 100+ vetted cryptoassets, including popular ones like Bitcoin, Ethereum, Solana, and XRP. You can buy, sell, and transfer most of these digital currencies to your eToro Money wallet.

3. AvaTrade – Best Trading App for Beginners in the UK

Founded in 2006, AvaTrade boasts hundreds of thousands of customers. We urge every beginner in the UK to start their trading journey with this platform. It has a beginner-friendly app that comes with a free demo account loaded with £100,000 in virtual money. The demo account allows users to gauge their skills with advanced platforms, including MT4, MT4, and AvaTrade’s WebTrader.

We also recommend this app to novices since it’s associated with one of the best free training programs today: Ava Academy. It’s chock full of quizzes, courses, and interactive lessons tailored to help you unleash your full trading potential. 

As an AvaTrade app user, you will get the opportunity to trade CFDs on different financial instruments, including FX, crypto, options, and stocks. This app is IOS and Android-friendly.

AvaTrade

✔Low minimum deposit requirement
✔Features automated trading on its copy trading platform

trustpilor logo
8,669 User Reviews
google
10,300 User Reviews
apple
24 User Reviews
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Our Rating
Total Rating:
18,993 User Reviews
Pros & Cons
Fees
Trading Assets

Pros

  • Offers a feature-rich demo account with virtual money worth £100,000 virtual
  • Associated with Ava Academy, an outstanding education program for novice and professionals
  • Free deposits and withdrawals
  • Equipped with unique features like customisable watchlists
  • Excellent customer support

Cons

  • Limited financial instruments
  • High minimum deposit requirement of £2,000 to access the DupliTrade platform

AvaTrade charges low fees for trading and non-trading services. When we started with the broker, we found the first deposit requirement of $100 or its equivalent to be low. Plus, all deposits and withdrawals at AvaTrade are free.

Commissions and spreads at AvaTrade are also low in our opinion. For instance, trading forex attracts low fees from 0.9 pips on major currency pairs. We also tried trading stocks and incurred low charges from 0.2 pips.

On the downside, AvaTrade charges a high inactivity fee of $50/£50/€50. This depends on your account currency. The fee applies should your account remain inactive for over three months. Plus, there is an annual administration fee of $100/€100/£100 after 12 months of inactivity. Other fee to expect with this broker is overnight charges for positions left overnight. Its margin rates are also low, from 3.33%, depending on your jurisdiction.

It is important to note that while AvaTrade offers social trading, accessing this feature via the DupliTrade and ZuluTrade platforms can be costly for low-budget traders. You are required to deposit at least $2,000 for DupliTrade and $200 for ZuluTrade platforms.

At AvaTrade, we explored over 1250 CFD instruments across multiple asset classes. We like this element, as it will make it easier for you to diversify your portfolio on a single platform. Let’s explore AvaTrade’s featured securities below.

  • Forex: AvaTrade lists over 50 currency pairs, including major, minor, and exotic.
  • Commodities: AvaTrade offers over 19 CFD commodities, including crude oil, gold, copper, natural gas, and more.
  • Cryptocurrencies: Enjoy 20+ crypto tokens at AvaTrade. Popular examples include Bitcoin, Litecoin, Solana, Dogecoin, and more.
  • Stocks: You will trade over 600 stocks, including prominent companies like Tesla, Netflix, Apple, Google, and more.
  • Indices: Over 30 stock index CFD assets are also available at AvaTrade.
  • ETFs: For ETF traders, this broker exposes you to over 60 options, all of which you can trade at low spreads.
  • Bonds: When it comes to bonds, AvaTrade only offers two options, including EURO-BUND and JAPAN GOVT BOND.

This broker only supports forex and CFD trading instruments. This means that you cannot use AvaTrade to buy an asset and take full ownership.

Before engaging in CFD trading, understand that the activity carries risks. Over 76% of retail traders lose money in this venture. Therefore, understand what CFD trading is and the risks that come with it before investing your hard-earned money.

4. FP Markets – Best app for CFD Trading in the UK

FP Markets that boasts 10,000+ CFD instruments. While interacting with this platform, we discovered CFDs on cryptocurrencies, forex pairs, indices, commodities, and more. If you are a dedicated CFD trader, checking out this platform should be on your bucket list.

Most importantly, FP Markets has a downloaded app that is works with almost all IOS and Android devices. Several of this app’s qualities left an impression on us. First, it allows users to build a favorites menu and streamline navigation. Additionally, it comes with crucial features, including take-profit and stop-loss limits. Before committing financially, you can test the FP Markets platform with a demo account.

FP Markets

✔Free deposits and withdrawals
✔No inactivity fees

trustpilor logo
6,624 User Reviews
google
0 User Reviews
apple
0 User Reviews
financeraters logo
Our Rating
Total Rating:
6,624 User Reviews
Pros & Cons
Fees
Trading Assets

Pros

  • Allows users to pick their favorite instruments from a list of 10,000+ CFD assets
  • Its multilingual team is available 24/7 and very responsive
  • Hosts a broad range of trading platforms, including MT4 and MT5
  • The app is intuitive and easy to use
  • No deposit or withdrawal fees
  • Zero account inactivity charges

Cons

  • Only forex and CFD trading supported
  • Its social trading feature can only be accessed via the MT4 platform

The outstanding perks of using FP Markets include free deposits or withdrawals. This broker goes above and beyond by covering all internal bank fees arising from international transfers. Moreover, you can start your journey with a free demo account before switching to a live account. Keep in mind that FP Markets’ minimum deposit requirement is $100.

The other commendable thing is this broker has reduced non-trading costs and charges. Take inactivity fees as an example. Unlike many of its peers, FP Markets doesn’t penalize dormant accounts. So, you can stay logged out of your account for as long as you like without fretting over accumulating fees.

That said, we encountered numerous other FP Markets fees and costs. Although you can open a Standard account, which comes with 0 commissions, you’ll still face variable spreads, starting from 1.0 pips. On the other hand, IRESS, FP Markets’ sophisticated premium platform, has commissions that vary depending on geographical location. IressTrader/ ViewPoint also has a mandated $60 fee. Luckily, there are free alternatives like MT4 and MT5, which have no platform fees.

FP Markets lets its clients pick their favorite assets from over 10,000 tradable instruments. This broker mainly deals with CFDs, which let you trade and capitalize on price movements in different markets. But you can also trade forex here.

Below is a comprehensive list of all FP Market’s product offerings:

  • Forex: You can trade Forex with FP Markets and access 70+ currency pairs, flexible leverages of up to 500:1, and minimum spreads of up to 0.0.
  • Shares: FP Markets offers you the opportunity to trade 10,000+ Australian and international share CFDS. The share CFDs come from different markets, including London, Amsterdam, and Hong Kong.
  • Metals: If you’d like to trade metal CFDs, try FP Markets. This broker gives you access to tradeable CFDs related to precious metals like gold, silver, and palladium.
  • Indices: Various index CFDs are supported by FP Markets. They range from EUREX TO NASDAQ 100 and S&P 500.
  • Commodities: FP Markets allows you to diversify your portfolio by trading commodities CFDs. You will get uncapped access to CFDs related to diverse commodities, including gold, silver, and oil.
  • Cryptocurrencies: With an FP Markets account, you can trade crypto CFDs whenever you like. The platform supports popular digital currencies, including Bitcoin, Ripple (XRP), and Ethereum.
  • Bonds: Bond trading is available on FP Markets. It’s a fitting option for traders who prefer dealing with lower-volatility markets.
  • ETFs: The FP Markets trading platform offers a wide variety of ETFs, including ACWI, EEM, and QQQ.

5. Spreadex – Best App for Spread Betting in the UK

Spread betting is a lucrative endeavour that gives you the opportunity to earn returns from falling and rising market prices. As a spread bettor, you can go long or short, enjoy zero commissions, and withdraw profits without worrying about covering stamp duty or paying tax. If you’d like to start betting spreads, Spreadex can help you realise your dream.

The Spreadex app is simple and easy to use. While using it, you can bet on spreads from thousands of global markets. And you don’t have to worry about starting with high stakes. Spreadex has no minimum deposit, so you can start low and grow with time.

You can install and use the Spreadex app on an IOS or Android phone. Your app will come with numerous terrific specs, including advanced charting capabilities, real-time price alerts, and SSL encryption for optimum security.

Spreadex

✔Licensed and regulated by tier-one financial authorities
✔No minimum deposit requirements

trustpilor logo
96 User Reviews
google
0 User Reviews
apple
132 User Reviews
financeraters logo
Our Rating
Total Rating:
228 User Reviews
Pros & Cons
Fees
Trading Assets

Pros

  • Easy to master and use
  • Contains amazing features, including advanced orders and charting tools
  • No minimum deposit requirement
  • Supports free deposits and withdrawals
  • Zero inactivity fees for dormant accounts

Cons

  • Card deposits below £50 attract a £1 fee
  • Limited asset offerings compared to its peers

From our assessment of Spreadex’s fees, we concluded that this broker offers one of the most cost-friendly platforms. Why? For starters, Spreadex has $0 minimum deposit requirements. That means you can deposit whatever you can afford and start trading immediately. Moreover, while funding your account, you won’t have to pay any deposit fees- it’s free! The same applies to withdrawals.

That is exceptional news since Spreadex supports myriad payment methods, from debit and credit cards to Apple Pay and Easy Bank Transfer. You can use these options without fretting over any charges undermining your profits.

We also recommend Spreadex because this broker doesn’t penalize dormant accounts. Your Spreadex trading account can remain inactive for an extended period without attracting inactivity fees, which separates this company from its peers.

Spreadex offers exceptional rates on spreads. This broker’s spreads start from 0.6 pips for CFD trading. This trading broker should be your go-to if you want lower overall trading costs and improved profit margins.

That said, Spreadex charges overnight funding for shares rolling positions. If you keep a position open through the close of the relevant exchange, Spreadex will keep it open for the following day’s trading. But that will attract a funding adjustment. The fees you’ll incur at any given time will be a combination of the Adjusted ARR and Spreadex’s charges. However, holding futures overnight won’t attract any charges.

Spreadex offers a wide range of tradeable products through CFDs and spread betting. With a Spreadex account, you get uncapped access to 10,000 global markets and instruments.

That said, you should be extremely careful. CFD trading and spread betting are risky endeavors. 64% of retail investors part with their hard-earned money while betting on spreads and trading CFDs on Spreadex. If you’re a novice, learn the ropes and hone your skills with a demo account before risking your resources. Note that this broker limits spread betting to specific regions, including the UK and Ireland.

Here are the product offerings we discovered on Spreadex:

  • Forex: As a Spreadex client, you can speculate on 60+ currency pairs and enjoy competitive spreads. The spreads start at 0.6 and 0.9 points for EUR/USD and GBP/USD, respectively. This broker gives you 24-hour access to most FX trading markets and offers world-class technical analysis tools like advanced indicators with drawing tools, pattern recognition, and Pro Trend Lines.
  • Shares: Spreadex’s share trading feature allows you to profit from rising and falling equity and stock prices. The available shares are from 15+ countries, including Europe, Asia, and the UK. This broker supports out-of-hours trading on German, UK, and US shares. Not to forget, any profits you rake in from spread trading on shares are free from Stamp Duty and Capital Gains Tax.
  • Bonds and Interest Rates: Suppose you’re interested in speculating on the direction of bond prices and interest rates. Spreadex’s trading platform lets you do that. This broker lets you choose your favorite assets from a comprehensive list of 19+ bond and interest markets from Europe, the US, and the UK.
  • Commodities: After joining the Spreadex broker trading platform, you can place CFD trades and spread betting on commodity futures markets. The best part is that you can enjoy low spreads starting from 0.5 pts on Gold. Also, all your profits from trading spreads or commodities CFDs are exempted from Stamp Duty and Capital Gains Tax.
  • Indices: Spreadex allows you to trade indices with tight spreads starting from 1 pt on the UK 100 and Germany 50. This broker also supports out-of-hours trading, meaning you can trade most of the available indices around the clock. There are over 30 indices markets on Spreadex’s trading platform.
  • ETFs: Spreadex supports ETFs, which bundle different stocks together. With an ETF, you get exposure to a basket of assets, saving you from the hassles of trading individual constituents. There are over 200 ETFs on Spreadex. Moreover, all profits from ETF spread trading are exempt from Capital Gains Tax.
  • Cryptocurrencies: Join Spreadex to speculate on the prices of digital currencies like Bitcoin, Ripple, and Litecoin. However, this product is exclusively for traders in the Professional Clients program.

Mobile Trading in the UK

Online trading is legal and governed by the UK’s Financial Conduct Authority (FCA). According to FCA rules, anyone 18 or older can engage in online trading. This authority requires all brokers to verify the age and identity of all traders.

All of the apps that we encourage you to use are provided by FCA-licensed brokers. That means they’re safe and secure. Also, while trading with them, you are protected by the Financial Services Commission (FSCS) and have access to the Financial Ombudsman Service. Many of these platforms have also gone above and beyond by seeking authorisation from multiple authorities, including ASIC, CySEC, and FSAS.

Not to forget, UK laws allow you to use the local fiat currency to trade online. You can also trade your currency for another. But note that, depending on your proceeds, you may have to pay Capital Gains Tax. That applies to most securities, including FX pairs, shares, and commodities. The only activity that’s tax-free in the UK is spread betting. Visit the HMRC official site or talk to a professional account for more information.

How to Choose the Right Trading App UK

Picking a trading app isn’t easy, no doubt. Hundreds of platforms are available today, and brokers keep releasing more. Moreover, all these apps claim to be the best, but that’s not true. Only a select few deserve this title, and you can isolate from the masqueraders by vetting them based on the following:

Licensing and regulation
Reputation
Fees and commissions
Trading platforms
Customer support

We can’t overemphasise this. Pick trading apps licensed and regulated by influential organisations like the FCA. A regulated platform is more likely to be fair, transparent, and secure. Avoid apps from unlicensed brokers since they won’t adhere to any regulatory standards and will likely expose your funds and data to bad actors.

You can tell what an app is and isn’t from past user reviews and testimonials. Browse platforms like Trustpilot, Google Play, and the App Store. Read all reviews and feedback. Try to single out any issues reported by numerous people. Also, if you know any popular trading forum or community, ask members for their opinions on a specific app before using it.

If you don’t pay close attention to a trading app’s fees and commissions, you may spend too much and compromise your returns. Do your math and determine what fees and commissions you’re comfortable with. Then, find an app that matches your spending goals and preferences.

Don’t register on any app before checking which trading platforms it supports. Assess everything, from proprietary to third-party software. Then, find a platform that aligns with your preferences and test its performance. Most brokers allow traders to gauge their platforms with demo accounts, so don’t worry about risking your hard-earned money.

As a trader, you should be ready to face common issues like account log-in problems and unexpected transaction delays. Most traders encounter such challenges at least once. But here’s something that can get you out of any fix you’re in: a knowledgeable and responsive customer support team. Pick an app with excellent support services for the best assistance and prompt problem resolution.

How To Register an Account with a Trading App UK

The account registration process can sound arduous, especially to newbies. And that’s understandable since trading brokers keep throwing around jargon like KYC. But don’t worry; it’s not that hard. We opened different accounts while testing the best trading apps UK and had an easy time doing it. But, of course, we avoided unnecessary headaches by providing what was asked of us, including valid information and documents. You should do the same.

You can start the account registration process today by following this procedure:

Step 1: Visit your broker’s website
Step 2: Download the app
Step 3: Create your account
Step 4: Submit verification documents
Step 5: Deposit money into your account
Step 6: Trade

After choosing a broker, visit its official website. Read the privacy policy and terms of use. If you don’t understand anything, contact support and seek clarification. If the terms and conditions are to your satisfaction, proceed to the next step.

Find the trading app on the official site and download it. For your safety and security, get your app from the App Store or Google Play. Avoid downloading apps from third-party sites since some are full of malware. Once the download process is complete, install and open the app.

To register with legit trading apps, you must share personal information, including your name and birth date, as they appear on your ID. You must also choose an email or phone number to use and set a strong password. Follow every instruction to the letter and share valid details because the broker will verify everything.

Share documents that your service provider needs to verify your identity and address. They may include a government ID and a copy of your bank statement. Try to make clear copies of every document. The details must be visible. If not, the broker will ask you to share the documents again.

After completing step 4, wait for your application to be evaluated and approved. Then, use the correct payment methods to send money to your trading account. Pay heed to your broker’s minimum deposit requirement and factor in any fees you may have to cover. Try to use payment methods that are either free or attract the least expenses.

With money in your account, you can pick an instrument and open a position. But, since trading is risky, you should use risk management tools should be used as often as possible. Most importantly, ensure that the funds you’re trading with are expendable. You don’t want to lose money that’s supposed to cover crucial aspects like rent or food. Don’t forget to limit risk exposure with the best position-sizing strategies.

Conclusion

Now that you are familiar with 5 of the best trading platforms UK, you can pick a suitable platform today. But remember to choose an app based on the factors discussed here, including supported trading platforms, product offerings, and fees and commissions.

Not to forget, trading goes hand in hand with profits and losses. But your goal as a trader is to make more profits than losses. Therefore, practice risk management and maintain unmatched disciplines. 

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Thadeus Geodfrey

Thadeus Geodfrey is a leading voice in the financial industry. You’ll appreciate the expert ease with which he does this. He deciphers the intricate link between emotions and behavior in trading and investment. With extensive experience as a senior trading writer, Thadeus imparts his knowledge and confidence to guide your trading boat. He’ll make you conquer your fears, break barriers, and capitalize on every potential opportunity. Follow his pieces and develop your knack for trading.