What are the best trading platforms in the UK? Whether you are new to trading in the UK or a veteran in the industry, the trading platform you choose will make or mar your trading experience.
The UK is home to several trading platforms. However, our aim in this article is to isolate a handful of them that we’ve come to recognize as the best trading platforms in the UK.
Approach to Trading Stocks in the UK
There are several ways to trade the stock market in the UK. However, we’ll review two basic approaches beginners can use to get into stock trading in the UK. It includes direct investing and indirect investing. Before getting into the details, how you trade stocks in the UK depends on the type of trading account you set up. There are Spread betting accounts and CFD accounts. Hence, it’s best to decide your trading approach before setting up an account.
Traders can buy shares individually from the market by setting up their personal accounts, funding, and purchasing the shares of their company of choice.
In this type of investment, traders’ funds form a part of a fund pool managed by professionals or institutional fund managers. The pool is diversified into a range of investments. The basket of assets could include bonds, stocks, and forex. The advantage of this type of investing is that it minimizes the risk of losses, especially for beginners.
Best Trading Platform for Beginners in the UK
Traders in the UK have access to a range of options regarding trading platforms. Nonetheless, below is a quick highlight of some of the best beginner-friendly trading platforms in the UK.
Newbie traders in the UK will derive some of the best experience from the Tradingview platform. One of its strengths is its flexibility, versatility, and resourcefulness. Tradingview is one of the most used trading systems worldwide due to the vast charting tools it provides.
Moreover, it provides free training resources that can help new traders in the UK get up to speed within a short period. Besides, it also features an online community of users where traders exchange ideas and review trends in the market.
However, to get the best of the Tradingview platform, beginners should opt for the Tradingview Pro or Tradingview Pro+ versions. With that, they can access several tools and resources that help them stay ahead of the curve and maximize their profits.
Interactive investors have been around since the mid-90s. It is primarily an online trading platform in the UK and has a presence in other countries worldwide. Interactive Investors uses a subscription-based model that allows users to pay as they go, providing trading information and investment tools to users. Some of its strengths include its fast execution and wide selection of payment options. It is regarded as one of the most reputable trading platforms in the UK, with over 400 thousand users.
eToro has a reputation as the best beginner-friendly trading platform in the UK. Besides the UK, it is also recognized as one of the best platforms in the world, with a presence in over 140 countries and over 30 million users. Along with access to several trading instruments, eToro features novel automated trading options, including its proprietary copy trading for day and Algo traders. Overall, beginners can access proven trading strategies to start the market without mastering the basics. Regarding charges, eToro charges 0% commissions and zero annual fees.
Webull Securities (UK) is a relatively new trading platform founded in 2021 as a member of the Webull Group. The platform has earned a reputation as one of the best trading platforms for beginners in the UK. It offers seamless account setup and free stock and ETF trading. It is also known for its fast trade execution speed, which places it in the class of platforms like Pepperstone. It keeps its platforms cheap for beginners by charging 0% commission and a negligible percentage on other fees.
How Can I Start Trading in the UK?
To start trading in the UK, you must create a trading account with a reputable platform. After setting up an account, traders must fund their account. Finally, it’s time to study and decide whether to day trade or settle for a medium-term or long-term strategy. Analyze the market and place trades that align with your strategies and goals.
Is Trading Legal in the UK?
Yes, trading is legal in the UK. The Financial Conduct Authority (FCA) provides the framework that guides brokers and other players in the financial sector. Hence, it’s best to understand the rules and regulations of the industry before getting involved.
What Platforms in the UK Offer the Best Trading Experience?
eToro, Webull, Pepperstone, Interactive Investors, and IG, among others, are some of the trading platforms in the UK that offer the best trading experience. However, eToro still holds the highest rating as the most beginner-friendly and user-friendly trading platform in the UK and most countries worldwide.
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