Best Trading App For The UK – Find Beginner Friendly Stock Trading App

Searching for the best stock trading apps? Look no further! In this guide, we review the 2021 best trading apps in the UK. We also discuss what features you should be looking at before registering with the best free stock trading platform to help you make sure you find the best trading apps.

Best Trading App UK List – 2021

Before we review them in detail, here’s a quick roundup of the best trading app UK and the top runners-up.

1. eToro – Best All Round Stock Trading App with 0% Commission
2. Fineco Bank – Trade over 10,000 Global Shares from Your Smartphone
3. Plus500 – App with over 2,000 Tradable CFDs
4. XTB – Trading App with Stock and ETF Screener
5. Forex.com – Best Forex Trading App in the UK
6. FXCM – App with Competitive Spreads
7. AvaTrade – Best App for Technical Trading
8. Skilling – Best App for Copy Trading

 

 

Our Video Tutorial helps to demonstrate the features one should look for in the best online trading app:

 

What is the best free trading app?

eToro is arguably one of the best trading apps on this list because of its ease of use and the versatility of its trading platform. Plus, it supports a wide range of securities allowing for portfolio diversification. Some of the factors making eToro the greatest app include the fact that the broker does not charge trade commission and also maintains highly competitive spreads.

More importantly, it brings together beginners best and active traders through their social trade platform and the copy trading feature. On this platform, beginner traders get to copy trade settings or the entire trading portfolio of highly successful expert traders, ensuring they earn while learning.

What is the best stock trading app?

Once again, we think its hard to see past eToros user-friendly nature. For starters, eToro offers over 800 global shares and, unlike most online brokers, it gives you the chance to buy and sell shares in the traditional sense and trade share CFDs with up to 1:5 leverage. You can also buy and stocks with 0% commission on eToro, and the spreads for stock trading are very competitive.

The other factor that makes eToro the best stock app is its innovative social and copy trading tools. These allow you to copy the top stock investors on eToro’s platform, meaning you can essentially trade stocks without doing any of the work!

Are trading apps legit in the UK?

Yes, apps for trading stocks, forex, crypto, and other assets are authorized and licensed to operate in the UK, where they are monitored by the Financial Conduct Authority (FCA). Therefore, when looking for the best trading app in the UK, you need to first ensure that they are authorized and regulated. The best share trading apps must abide by FCA regulations limiting the amount of leverage advanced to retail traders to 30:1 and subjecting their clients to the regulator-approved KYC and AML procedures.

To qualify for an operating license, an app must also meet stringent security measures aimed at keeping their client’s data and mutual funds safe. You must, therefore, ensure that you only register with the FCA-regulated trading app.

What are the best trading apps for beginners?

When looking to open an account with the best trading app for beginners, you have to consider such factors as the level of customer assistance advanced, available trading and technical analysis tools, and the user-friendly intuitiveness of their platform. One of the best apps eToro carries the day because of its highly versatile and copy trading-integrated platform.

FXCM is a favourite app for beginners because of the wide range of risk management tools availed by the broker. These make the transition from the demo environment to the live account seamless by minimizing their losses. On the other hand, beginners looking for low-cost trading and the most transparent broker charges will also consider Skilling. We think FXCM and eToro are the best apps for forex trading because of their low spreads and wide selection of currency pairs.

What should you look for in the best trading app?

Getting the right trading app is essential to your success as a trader. You need a mobile app that not only lets you trade the assets that you want to invest in, but that can help you spot opportunities for profit in real-time by putting key tools at your disposal. Plus, your app needs to do all of this without charging an arm and a leg every time you open or close a position.

To help you find the best UK trading app for you, this table shows how our recommended mobile apps match up against each other in terms of tradable assets, minimum deposit and features. Continue reading to see how they match up in terms of fees.

 

 

What Assets Can You Trade?

The first and most important factor you need to consider is what assets a trading app allows you to buy and sell. There are tons of stock trading apps for investing in free stock and ETFs, but these asset classes make up just a small part of the total investment market. All of our featured best stock trading apps let you trade stocks and ETFs along with forex, cryptocurrencies, and commodities. Even better, look for brokerages that offer options trading for stocks, forex trading, or both.

Even if you’re only interested in trading one type of asset right now, having multiple asset classes available can help you in the future. If market conditions change, you can immediately shift to trading a different type of asset or diversify your portfolio. Plus, you can take advantage of opportunities in other markets or diversify your portfolio.

On top of asset variety, you’ll also want to consider how you’re allowed to trade with any brokerage. For example, while most brokerages only let you buy and sell CFDs and not the underlying assets, others, like eToro let you invest in shares directly or trade them indirectly via stock CFDs.

When trading forex, indices, stocks, and commodity CFDs on leading platforms like eToro, you have access to leverages of up to 30:1. Direct ownership is only available to the dividend- investors that want to buy shares, and while these stock trades aren’t levered, you are eligible for any dividends issued by the company.

Along the way and as you push your day trading career further, you will want to diversify your portfolio. And by offering you with thousands of tradable securities, eToro makes it easy to use a different investment style.

Apps for trading stocks

Most trading apps in the UK let you trade stocks. However, not all share trading apps are made equally. Some apps only carry UK and US shares, while others have shares from around the world.

In addition, think about whether you want the option to trade penny stocks. While penny stocks can be high risk, they can also help you diversify your portfolio and make big bets on young companies. We think eToro is the best penny stock trading app.

Apps for forex trading

Forex trading apps need to have a wide variety of currency pairs, ultra-fast trade execution, and low spreads. Ideally, they should also have advanced technical analysis platforms that enable you to follow miniscule changes in the currency market. For any app that offers MetaTrader 4 or 5, you’ll be able to use forex signals in your trading.

Apps for trading cryptocurrency

Cryptocurrency trading apps like eToro, Skilling, and others let you buy and sell digital currencies – or, at least, CFDs for these currencies. Look for a wide selection of cryptocurrencies, including altcoins like Ethereum, Litecoin, and Ripple. You should also have access to the same technical analysis tools for crypto trading as you do for trading stocks and forex.

What are the trading fees and commissions?

Cost is another major factor when choosing a trading app. Thankfully, an increasing number of brokerages are doing away with double fees in the form of trading commissions and spreads. eToro, for instance, offers free of commission stock trades while maintaining relatively low spreads.

Spread refers to the difference between what an asset can be bought for and what it can be sold for at any time. These vary from one tradable financial instrument to another.

Other fees that you have to contend with when trading on eToro include the withdrawal fees, copy trading commissions, and overnight trading fees. The withdrawal fee is fixed at £5 per trade while the minimum withdrawal limit is set at £30.

If you chose to copy trades from other active traders, you will have to part with a commission of 20% of the profits realized while the overnight trading fees (charged on stock trades that remain open overnight and on weekends) is dependent on such factors as the transaction volume and the type of securities traded.

Which trading app has a smooth onboarding process?

The ease of registering as an online trader varies from one trading app to another. Some mobile apps have relatively easy and straightforward registration while others may be considered rather complex. eToro, for example, has one of the easiest onboarding processes. You only need to provide them with your name and address to open an account. These credentials will be used to access both the live account and the demo account.

You will only need to upload identification documents when making a deposit. Though manual, the documents verification process is quite fast. The same, however, can’t be said of FXCM which takes up to two days to approve the verification documents and open an account.

Here is a step by step guide on how to register and trade with the eToro trading app:

Step 1: To download the eToro iOS app, search for it in the Apple App Store. Android users can download it from the Google Play Store or from the eToro website.. You can download eToro’s best free trading app at no cost and it should take just a few seconds, depending on your internet speed.

 

Step 2: Once the mobile app has download, open an account. You’ll need to provide some personal information like your name, email and phone number, and you’ll need to verify your account holders application by uploading ID after you’ve signed up.

 

Step 3: Fund your account by heading to the deposit section, selecting your preferred payment method, entering the chosen amount and confirming.

Step 4: You can search for your preferred assets by using the search bar at the top of the app. Alternatively, you can check out the eToro markets section for inspiration.

Step 5: Place your order by selecting your chosen asset and filling in the various details. Once you’re happy, hit confirm – trading couldn’t be easier on the eToro mobile app!

Which trading app has the fastest execution speeds? 

eToro has one of the fastest order performance speeds. According to their web platform, regular buy/sell orders are instant while copied trades are executed less than a second from the instant the trader from whom the trades were copied executes their trade.

Which Best Stock Trading apps offer Copy Trading within their platform?

A few mobile apps have integrated either a proprietary social trader tool or support trading platforms like Duplitrade and Zulutrade. eToro, through its proprietary stock trading platform, has, however, perfected the art of social trader and copy trading. On eToro, one can easily copy the trade settings or even the entire portfolio. Copy traders then get to pay a 20% commission of the interest gained from the copied trades.

Some of the most successful active traders that you can copy include:

Anders_ – 22% ROI

QE4Everyone – 18.42% ROI

Juahnnie – 72% ROI

Iselalala – 53.53% ROI 

What is the difference between forex trading apps and the best stock trading apps?

The primary difference between a forex trading app and a stock trading app is that while forex trading apps are dedicated to trading currencies, stock trading apps are dedicated to trading stocks and shares. Other differences between these mobile apps revolve around trading charges and how they treat leverage.

In the UK for instance, a forex trading app will only grant you access to leverages of up to 30:1 while stock trading apps have leverages of up to 2:1. The best stock trading apps will also be commission-free while forex trading apps juggle between the commission and commission-free mobile apps.

What are the available trading tools

Your mobile trading app should be more than just a trading platform. For you to succeed as a trader, your chosen platform should have all the necessary research tools, technical indicators, feature customizable charts, and offer a platform for discussions with other traders.

The first thing that most traders will want to look for in a mobile trading app is technical charts. These are essential to understanding recent and long-term price movements and predicting what’s to come.

The best stock trading apps offer some form of technical charts, either through their own custom software or integration with third-party software like MetaTrader. If your broker has their own charting system, make sure it offers all of the indicators and technical studies you need. It’s even more promising if it includes an automated alert system.

Other helpful tools to look for include news feeds, summarised financial data points for companies and industries, and analyst reports. These resources are important to both technical and fundamental traders in helping them speculate on market trends.

Finally, consider whether social trade is important to you. Beginner traders especially can benefit from being able to see what other traders are holding and to copy their strategies automatically. But, even advanced traders can use copy trading to their advantage as a way to quickly diversify their portfolios. Social trades can also help you gauge market sentiment around specific assets or industries.

eToro operates a proprietary trading platform that’s fitted with some of the most advanced trading and technical analysis tools, market research tools, and premium indicators like market sentiments. Its most impactful trading instrument, however, remains to be their social networking and copy trading tool. These two don’t just provide an interactive platform where traders can share opinions on the platform, it also makes it possible for beginners and part-time traders to copy the mobile trading strategies and portfolios of highly successful traders.

Customer Service?

While most traders will never need to contact their brokerage for assistance, it’s critical that help is there when you need it. Look closely at what types of support your mobile trading app offers; whether it’s by phone, email, live chat, or another method of communication and when it’s available.

Along the same lines, educational resources can be a big help for traders looking to take their profits to the next level. Many of the best trading apps have a library of guides and articles to help you understand the intricacies of different types of assets or to explain new strategies.

But if you still have questions about investments you should contact a financial advisor.

Conclusion

Finding the best UK trading app is key to succeeding as a trader. With so many mobile apps on the market right now, there’s never been a better time to jump into trading. But, it’s important for first-time traders to choose your mobile trading app carefully so you get the one that’s most suited to your needs. Our five featured best trading apps are a good place to start honing your trading skills.

If you’re looking for other investment options check out this check out the best investment apps in the UK.

 

Glossary of Investment Terms

FAQs

Can I access my trading account online, or only through the app?

Most online brokers that offer mobile trading apps also have browser-based platforms that you can access from your computer. Depending on the user-friendly interface, you may find the app easier to use for trading, but less ideal for charting and research.

How much money do I need to start trading?

Many UK trading apps require a minimum deposit of £100 or more to create a mobile trading account. This is enough money to start trading CFDs in many cases, but it might not be enough to buy stocks and ETFs directly. In any case, it’s a good idea to have several hundred pounds available to start trading.

How do CFD contracts work? Do they roll over automatically?

With contacts for differences, you speculate on the price of an asset without actually owning the asset itself. If you don’t trade with leverage, returns are the same as if you actually owned the asset. CFDs are typically short term contracts, and most online brokers automatically roll your contracts over into a new one month contract at the end of each month.

What kind of commodities can I trade?

The types of commodity CFDs you can trade vary between stock trading apps. However, most online brokers that offer commodity trading have CFDS for the most popular commodities, including crude oil, natural gas, gold, silver, copper, and wheat, for trading.

Can I upload documents and deposit funds via trading apps?

Yes, the best apps make it possible for you to upload verification documents to their app directly. You can also load mutual funds through the supported deposit methods and trade them via the app.

Can I Withdraw funds via trading apps?

Yes, you can initiate the fund's withdrawal process using a trading app and have it deposited into your preferred payment processing wallets such as the bank account, debit cards, credit cards and the best online payment processors like PayPal.

Can I get live customer support on trading apps?

Yes, some of best apps have the live chat tab that you can use to communicate directly with the trading company’s customer service team.

What to do if the trading app suddenly stops working?

If a trading app suddenly stopped working, we advise that you first close the app. If possible, log out and try to log in again and if this problem persists, contact the brokerage.

What is the best app for trading?

We think eToro is the best app for trading. You can trade stocks, forex, cryptocurrency, indices, and commodities, all without paying commission. Plus, the eToro app has a built-in social network

What are the top 10 trading apps?

The 10 best trading apps in the UK are eToro, Fineco Bank, Plus500, XTB, Forex.com, FXCM, AvaTrade, Skilling, and Investous.

Which trading app is best for beginners?

We think Forex.com is the best trading app for beginners because it offers a range of educational resources, including trading guides built for beginners.

Do trading apps really work?

Trading apps are just as capable as web-based trading platforms. You can trade stocks, forex, crypto, and more on the go, and orders are executed instantly.