The power of technology allows us to trade anywhere, at any time, and all we need is a smartphone, tablet or laptop. As there are many stock markets and trading options, not all platforms offer the same options. Before investing in an online stock trading platform, there are important factors to consider.
Top 8 Trading Platforms in the UK
eToro features include:
Graph trading scenarios Trading in US dollars Social newsfeed with open trading discussions and notifications Valuable trading education Trader matches depending on your needs and trading style
It is not listed, nor does it have a banking licence or public information regarding its financial information. However, it is regulated by the Financial Conduct Authority (FCA). 80.2% 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. Full fees for Plus500 are:
Overnight funding – When holding a position after a certain time. Currency conversion fee – For all trades on instruments in different currency to your home currency. Inactivity fee – Up to USD 10 per month if you do not log in to your account for a period of 12 weeks. Guaranteed stop order fees
Please note that the Plus500 platform is suitable for experienced investors only. Though Plus500 is a very user-friendly platform, CFDs are complex financial products, thus the platform is not suitable for beginners/inexperienced traders. The web platform is user-friendly with a two-step login procedure. The mobile platform offers good search facilities and is easy to use. There is no desktop version. Plus500 offers limited research and news flow, good customer support, a demo account and educational videos. It does not provide trading platform tutorials. This platform is not for traders who intend to make many trades in a two-minute block. Any trader that does so will be frozen from the platform. Plus500 does not have a banking licence, but it is regulated by the FCA.
It requires no minimum deposit and offers low trading fees. Login procedures for mobile, desktop and web platforms are not as secure as they could be. However, they are customisable and user-friendly. Pepperstone offers fantastic market analysis and trading ideas, but the news flow is basic. The educational tools are adequate. Customer service is available via phone, email and live chat, and all queries are answered in a very timely manner. It is not listed on the London stock exchange, nor does it have a banking licence, but it is regulated. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.8% 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. XTB was founded in 2002 and has an excellent reputation for customer service. It has 48 currency pairs available to trade through two account types:
Standard – Offering market average spreads Pro – Offering much tighter spreads but with added commission
XTB supports the full MT4 suite, and its proprietary platform, xStation 5, offers a user-friendly, intuitive solution that works well on desktop, web and mobile. You’ll need a minimum deposit of £250 to start trading and you’ll find that several educational resources are available, including XTB’s trading academy. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% 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. It offers a 20% welcome bonus up to $10,000, according to regulation and a free 21-day demo account with $100,000. Instruments include:
Metals Commodities Stocks FX Options Oil ETFs Options Crypto currencies CFDs Indexes Shares Spread betting Indices Forex Bonds
AVATrade EU Ltd is regulated by the Central Bank of Ireland. (No.C53877) Ava Trade Markets Ltd. is regulated by the B.V.I Financial Services Commission. It is also highly regulated in Australia, South Africa, Japan, Middle East, Cyprus and Israel You can not trade with AvaTrade in the US, North Korea, New Zealand, Iran or Belgium. Mínimum deposit of $100, no withdraw limit and no fees.
As an online broker, Vantage Markets is well-regarded and considered safe thanks to regulation by ASIC and the FCA. Vantage Markets offers access to the markets through the popular MT4 and MT5 platforms, and a feature-stuffed mobile app. There are three account types:
Standard STP: Perfect for novices, this is a no-commission account that works across all trading instruments, with a minimum spread of 1.4 pips. The minimum deposit is $200. Raw ECN: Designed for more experienced traders, this account charges commission at $3 per lot per side but the spreads start at 0.0 pips. The minimum deposit is $500. Pro ECN: This is for professional, high-volume traders, and offers commission at $2 per lot per side, with spreads from 0.0 pips. The minimum deposit is $20,000.
Vantage Markets is seen as a good, reliable broker that offers social and copy trading – without being prohibitively expensive in terms of non-trading costs or commission. The MetaQuotes WebTrader platform is supported by Vantage Markets and allows simple and fast connection to MetaTrader 4 & 5 trading accounts for both PC and laptop as well as through mobile technology. On the MT4 & 5 platforms, you can trade using a suite of indicators, many technical analysis tools, and one-click trading. The proprietary Vantage Markets trading app allows you to access global markets wherever you are – and at any time. Available for both iOS and Android devices, it is the perfect way to access trading on the go, while still taking advantage of a full suite of trading tools and technical indicators. The trading app offers 24/5 support and a range of global market news, too. Trading Forex and CFDs involves significant risk of losing of your invested capital and is not suitable for all investors. 64.86% of retail investor accounts lose money when trading CFDs with this provider. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. Its strong points include:
No minimum first-time deposit No commissions Several payment methods for deposits and withdrawals Tight spreads from 0.5 pips
It offers one of the best execution speeds in the industry with low latency below 0.004s. It utilizes the most advanced technology to improve users’ trading efficiency – users can automate trades, build integrations and create trading apps using ActivTrades’ market-leading CFD and spread betting technology. Exceptional trading infrastructure is available on ActivTrader and MetaTrader 4 and 5. ActivTrades invests deeply in specially developed educational materials for its clients – including webinars, regular outlooks, manuals, etc. Type of offers: ActivTrades focuses on well-developed products in its trading portfolio. Customers can choose from over 1,000 CFD or spread betting instruments across forex, indices, shares, commodities, financials and ETFs. It also offers investing solutions for its institutional partners. Spread betting allows UK residents ONLY to trade the prices of financial instruments, including forex, indices, commodities and LSE shares. Spread betting and 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 spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread betting and CFDs work and whether you can afford to take the high risk of losing your money There is good customisability across all platforms with good-quality news flow and diverse research tools, though it lacks fundamental data. There are excellent educational tools, including a demo account, and customer service is available via live chat and phone 24/5. City Index is listed on the stock exchange. Overall, while its portfolio is limited, City Index is regulated by the UK’s FCA and offers low fees and excellent research, making it a great forex broker.
Now, it is one of the largest retail stockbrokers in Europe and it has its own banking licence – which is not all that common in brokers. Degiro is regulated by both BaFin and the FCA. Opening an account with Degiro is a simple, fast process that can be completed online – you just need ID and a bank account. There is no minimum deposit for any account type with Degiro. There are five different account types that you can choose from, including Custody, Active and Day Trader. Each account has different features, functions and services, so you need to choose the one that best suits your trading style. There are no account or inactivity fees, but you can only deposit using your bank account – not with credit or debit cards. You may only open an account in your home currency, so you cannot have a separate account in a different currency. Trading on Degiro is simple and straightforward, whether you are using the web trader or the mobile app. Both are well-designed and easy to use, so they are suitable for the new trader, but they lack customisation and some tools that an advanced trader would want to see. One of the best features, especially for a new trader, is that you can see the total cost of your trade, including fees, before you execute it. You can trade several instruments using Degiro, including:
31 Stock Markets 5,400 ETFs 63 Bond providers 649 Bonds 12 options markets 14 futures markets
You cannot trade forex, crypto, or CFDs with Degiro, and there is a monthly cost to trade US derivatives (options and futures). New traders won’t find reams of education, and the lack of demo account can be a problem. However, the ‘knowledge’ tab does have a good selection of educational material, from a 10-lesson Investors Academy to platform tutorials and articles about basic strategies and products.
Regulated by the Financial Conduct Authority (FCA), it offers zero-commission trading, valuable educational tools and a social newsfeed with open trading discussions and notifications. Many day traders in the UK use eToro,Plus500, Pepperstone. Before deciding on a trading platform, you should carry out plenty of research to ensure you select the one that will work best for you. The profit made by day traders depends on many factors, including how much capital they have available, their trading strategy and their risk management technique. A professional UK day trader working on a full-time basis might earn between £30,000 and £40,000 per year but they can equally lose the same amount, as all trading comes with risk. Next, research and choose your preferred stocks, working out the direction of the trade – do you think the price of your chosen stock is likely to increase or decrease? Note your entry and exit points and put together a risk management plan. As soon as your trade conditions are met, open an order ticket and set the appropriate risk management conditions such as stop-loss or take-profit orders. Monitor your trades in line with your trading plan, closing off trades accordingly. After closing a trade, consider what went well and what you might need to improve for future trades. It is sensible to record your thoughts in a trading journal to help you keep track of your progress and learning. Vantage Markets is also a great option. The best platform for you depends on your level of knowledge, how and what you want to trade, and how much you are prepared to pay in both trading costs and account fees. When you are considering using an app for access, make sure that it has good security, and that it is easy to use – a well-considered trading app should allow you to do all the things you would in the web trader or desktop trading environment. When you are choosing a trading app, consider how easy it is to use, and whether there are any built-in training options or education so that you can learn as you use the software. Not only does it need to do the job of facilitating trading, but it also has to be user-friendly so that you are happy to use it regularly. Before committing to a platform, take advantage of any free trial or demo account they may offer and fully utilise all the available functions. If you want to start investing and trading, learn everything you need to know with these stock trading courses. WikiJob does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. Investing involves risk including the possible loss of principal.
