Best trading apps UK

Frequently asked questions

First-time investing

• How do I start investing in the beginning?

  Your first step is to make sure you’re prepared – financially and mentally. Once you’re sure investing is right for you and have the money set aside to invest, your next step is to pick a platform.

  If you’re a beginner, using one of the free or cheap apps may be worthwhile. This way, it costs you very little to open an account, and you can make a small investment without paying through the nose for fees.

• How to pick a beginner-friendly platform

  Here are a few questions to ask yourself to help you find an app and get started investing:

  • Do you want an app with no platform fees? Some apps are free to download and use but there can be limitations compared to other options.
  • How much are you planning to invest? If it’s only a small amount to start with, you’ll want a platform that allows smaller investments, and ideally no commissions so the fees don’t erode your investments.
  • What do you want to invest in? Each platform will offer various types of investments. Think about what you’d like to invest in and find an app that offers what you want.
  • Are you looking to practise first? Some trading apps, such as eToro and Trading 212, let you use a demo account so you can learn how things work before investing with real money.

• What makes a good beginner trading app?

  There are few universal elements that help make investment apps stand out as a top option for beginners. Here are some key thing to look out for when looking for the best app:

  • Easy to use. First things first, a beginner-friendly app needs to be straightforward to use. This means it should be simple to sign up and open accounts, and the process of making investments should be as seamless as possible.
  • Low fees. Most beginners are going to start off with smaller investments, so it’s important that the platform fees and commissions (cost of buying or selling an investment) don’t take a big bite out of your portfolio before you even get started. Check out our guide on investment fees to find out more about the different types of costs you might come across.
  • Simple pricing. Unfortunately, some apps are cheap, but you need a PhD to decipher all the fees. A beginner-friendly app should be both affordable and clear when it comes to fees and costs.
  • Beginner-friendly investments. You don’t want to jump into the deep end with complex “trading instruments”. As a beginner, you should be looking to use investments you can grasp, such as funds, ETFs and individual shares.
  • Learning materials. While you’re finding your feet, it can be helpful for apps to provide learning resources or even a demo account, but you can often find this info elsewhere if you need.

• Is it worth getting an expert trading app as a beginner?

  At some stage, you might want to do this. But if you’re a beginner, try out one of the apps designed for investors like you first. You can always upgrade to a more sophisticated app once you learn more about trading and investing.

  There’s usually no fee to close your account so there’s nothing to stop you from moving to another platform later.

• Do you have to pay tax when using trading apps?

  Possibly, it depends on the success of your investments or trades. If you use a trading app to buy stocks or shares that pay dividends, you’ll have to pay tax on any income over £500. The percentage rate depends on your income tax band. Also, if you buy investments on your app and sell them for a profit, you’ll pay capital gains tax (CGT) on any gains over £3,000 (your tax-free allowance for the tax year 2024/25).

  A simple way you can avoid these taxes entirely is to use a trading app with a stocks and shares ISA wrapper. Any investments or trades made within the wrapper are shielded from both dividend tax and CGT. You have a yearly ISA allowance of £20,000 that can be used for trading and investing, but not every platform or app offers these accounts.

• Why do most traders lose money?

  There are a few reasons for this. Often, it comes down to a lack of patience, making knee-jerk reactions or decisions, or attempting to make money quickly. The truth is, successful investing can be quite slow and boring.

  Trading frequently and successfully is difficult and can be costly. If you want to tip the odds in your favour, consider becoming a long-term investor rather than a short-term trader.

Trading apps 101

• What is a trading app?

  Trading apps let you buy and sell investments, show how they perform, and give you insights into key investment metrics. They can differ widely in terms of features, fees, charting, and how easy they are to use.

  To find the best trading app or platform, it’s worth looking for one that suits you, the stocks you’d like to buy, how often you plan to trade, and your level of investing knowledge. The investment platform with all the bells and whistles may not be the best choice if you’re just starting out. Because, you could end up paying money for features you don’t need from the get-go.

• What’s the difference between a trading app and platform?

  The word “platform” is usually referring to the overall investment provider. Whereas, “trading app” will be either a mobile or desktop application offered by a provider that you can use to trade, invest and manage your portfolio. However, the terms can be used interchangeably.

• Are some trading apps better than others?

  Yes. Some trading apps have more features and better charting tools or analysis, but you often find that these charge higher fees. In contrast, there are “free” apps that don’t have the same level of detail as more expensive ones. You need to weigh up the costs against the features you’d like.

• Are some trading apps better than others?

  Yes! However, finding the trading app that’s right for you will come down to your needs. To help you out, we’ve ranked and reviewed all the best trading apps and categorised them based on the results of our analysis.

• Which is the most trusted trading app?

  There’s no single winner here, but it’s always best to look for FCA regulated trading apps. Regulation from the Financial Conduct Authority (FCA) means that there is oversight and rules for the platform.

  Ideally, it’s worth looking for apps that also come with FSCS protection. Still, there are some instances where this isn’t needed because the platform comes with even greater insurance or protection for your deposits (like with eToro and Interactive Brokers).

• Which app is best for buying stocks in the UK?

  This depends on what markets you’re trying to access. It’s often worth using the app or platform with the lowest fees for your trading needs. Although sometimes, it’s worth paying extra for an account that comes with added features like top customer service or tools to help you become a better investor.

• Which banks are best for share trading?

  Loads of financial institutions are getting into the share trading market, from high street banks like Barclays and Lloyds to fintechs like Revolut. You don’t have to limit your options to high street banks though, there are loads of different apps available. Consider some different factors such as the fees and charges and the types of investing available to decide which platform is best for you.

• What is the best trading app for day trading?

  There’s no single best app. Ideally, you’ll want an app with low fees, live stock prices with real-time quotes, and the ability to set various trading order types to automate your trading. Day trading can be a complex and difficult strategy and we think for the majority of people, a longer-term buy and hold strategy would be more appropriate.

• What is the best app for automated trading?

  If you want to set your trades and investments on auto-pilot, you’ll want to make sure you can set specific trading orders to take place automatically so that you don’t have to continuously watch asset movements and do everything manually. You’ll also want a fast trading platform to make sure you’re getting the latest prices with no lags or delays.

Investment safety and protection

• Are trading apps safe?

  The majority are. But it’s always best to double-check and make sure that the platform you want to use is regulated by the Financial Conduct Authority (FCA) here in the UK. The FCA helps to protect retail investors like you or me from shady behaviour.

• What happens if a trading platform goes bust?

  It depends on the platform you’re using. If it’s an FCA regulated provider, you should get some protection. For companies that are also members of the Financial Services Compensation Scheme (FSCS), up to £85,000 of your deposits are protected.

  Most apps will also segregate funds and assets. This means that they’re not in direct control of your investments. So if they went bust, your assets would be transferred to you, sometimes via a new company.

• Which investment providers are FSCS protected?

  • eToro
  • Hargreaves Lansdown
  • IG
  • Freetrade
  • Saxo
  • interactive investor
  • Trading 212

  • Degiro
  • Stake