Are you unsure which trading app to choose because the flood of options overwhelms you? From opaque fee structure to complex user interface, choosing a broker can often seem like a daunting task.
Drawing upon our extensive experience in the field, we have developed a comprehensive framework to classify brokers that has helped thousands of new users find their desired app.
With a special focus on beginners, we’ve singled out the best trading apps for beginners in the UK for 2024, making your choice straightforward and informed.
| Interactive Brokers | eToro | InvestEngine | Interactive Investor | |
| Best app for | All-round functionality |
Social trading | ETFs | Customer service |
| Time to open an account | 1-3 days | 1 day | A few minutes. | <10 minutes |
| Minimum Deposit | £0 | $50 | £100 | £0 |
| Products offered | Stocks, ETFs, Forex, Fund, Bond, Options, Futures, CFD, Warrants, Structured Products |
Stocks, ETFs, crypto-currencies, and CFDs on stocks, currencies, commodities, and indices |
ETFs | Stocks, ETFs, funds and bonds |
| Trading fees | Low | Generally low | 0%-0.25% (per year) |
Low for investments >£50,000. Trading fees in the small investments category are relatively high. |
| Regulators | FSA, FCA, MAS, FINMA, ACPR, AMF, DNB, FSMA, NBB, SFC, ASIC | FCA, CySEC, ASIC | FCA | FCA |
So, grab a cup of tea and make sure to read the entire article to explore our top recommendations for the best trading app that suits your needs.
The Best Trading Apps in the UK
Our selection process is based on rigorous criteria, including user-friendly interfaces, comprehensive product offerings, regulatory compliance, competitive fees, and responsive customer service. Here are our top picks:
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Interactive Brokers | Best all-round app
Interactive Brokers (IBKR) is a well-established online broker in the UK that provides a diverse range of financial instruments for beginner investors. It offers IBKR mobile app where you can trade all the assets available and IBKR GlobalTrader, a more intuitive mobile app that allows you to buy stocks, ETFs and options.
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eToro | Best app for social trading
eToro is a popular social trading platform with over 30 million users worldwide. It is a great choice for beginners in the UK who are interested in trading stocks, as it allows to trade them without paying any commissions.
The platform has a user-friendly mobile interface that is easy to navigate, and it also provides additional insurance coverage for beginners from the UK. One of the standout features of eToro is its social trading functionality, which allows beginners to follow and copy the trading strategies of experienced traders.
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InvestEngine | Best app for ETFs
InvestEngine is an excellent option for beginner traders in the UK looking for the best trading app. While it primarily focuses on exchange-traded funds (ETFs) and doesn’t provide access to individual shares or other assets, it excels in offering a wide variety of over 550 ETFs at low fees.
As a beginner, you have the flexibility to opt for InvestEngine’s recommended managed portfolios or build your own portfolio. InvestEngine offers a user-friendly experience tailored to the needs of beginners, with transparent fees limited to the fund management fee and market spread.
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Interactive Investor | Best app for customer service
Interactive Investor stands out with its excellent customer service, user-friendly interface, and cost-effective flat fee structure for portfolios over £50,000. With a remarkable rating of 4.7 out of 5, based on feedback from over 20,000 customers, Interactive Investor has established itself as a top choice on Trustpilot.
#1 Interactive Brokers (IBKR GlobalTrader)
Interactive Brokers: Key Features
| 🕖 Time to open an account | 1-3 days |
| 💰 Minimum Deposit | £0 |
| 🛍️ Products offered | Stocks, ETFs, Forex, Funds, Bonds, Options, Futures, CFD, Warrants, Structured Products |
| 🎮 Demo Account | Yes |
| 💸 Trading fees class | Low |
| ⚖️ Regulators | FSA, FCA, MAS, FINMA, ACPR, AMF, DNB, FSMA, NBB, SFC, ASIC |
Interactive Brokers: Pros and Cons
| ✔ Low fees – One of the most cost-effective trading apps available. |
✖ Complicated pricing structure. |
| ✔ Extensive product range – Wide variety of international investment options. | ✖ Beginners may face a steeper learning curve. |
| ✔ Excellent research and educational tools available. |
✖ Account opening process is complicated and lengthy. |
| ✔ Demo account with free access to all the available platforms. |
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| ✔ Excellent reputation (established since 1978). |
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| ✔ Customer Service is available 24/7. |
Our Take on Interactive Brokers
Interactive Brokers (IBKR) emerges as one of the best trading app for new newbies, offering a comprehensive range of services at low fees. With a remarkable selection of asset types from exchanges worldwide, IBKR ensures that you have access to the best trading opportunities.
While IBKR’s trading platforms provide advanced research tools and excellent functionality, it’s important to note that they might appear complex for some beginners. However, there’s a solution tailored to your needs: the IBKR GlobalTrader app. This user-friendly app streamlines your trading experience, allowing you to trade stocks, ETFs and options with ease, all while maintaining competitive fees.
Opening an account with IBKR may require some time and effort, but the benefits far outweigh the drawbacks. The IBKR GlobalTrader app provides a simplified and accessible trading experience, ensuring that beginners like you can navigate the markets confidently.
With over 40 years of experience and access to over 150 markets, IBKR has a solid track record in the industry. The IBKR GlobalTrader app, designed with beginners in mind, offers a wide range of products and the latest trading technology to enhance your trading experience.
Unfortunately, Interactive Brokers does not offer spread betting services. However, if you have a preference for spread betting, we have other choices for you to pick from.
The IBKR GlobalTrader app is a reliable and trusted choice for new traders, providing a user-friendly interface and ensures that you can begin your trading journey with confidence.
#2 eToro
eToro: Key Features
| 🕖 Time to open an account | 1 day |
| 💰 Minimum Deposit | $50 |
| 🛍️ Products offered | Stocks, ETFs, cryptocurrencies, and CFDs on stocks, currencies, commodities, and indices |
| 🎮 Demo Account | Yes |
| 💸 Trading fees class | Generally low |
| ⚖️ Regulators | FCA, CySEC , ASIC |
eToro: Pros and Cons
| ✔ Social trading. | ✖ Withdraw and inactivity fees. |
| ✔ Seamless account opening. | ✖ Only one currency account (USD). |
| ✔ Free stock trading. | ✖ Currency conversion fees higher than average. |
| ✔ Demo account with free access to all the available platforms. |
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| ✔ Copy Trading: Copy the trades of successful traders. | |
| ✔ Extensive product selection: ETFs, Stocks, Cryptocurrencies and CFDs on Stocks, ETFs, Commodities, Forex, Indices and Cryptocurrencies |
Our Take on eToro
If you’re a beginner trader in the UK, you’ll find eToro Mobile to be one of the best trading apps available. Its user-friendly interface and social trading feature make it a perfect choice for you as a beginner. With easy-to-use buttons and swipe gestures, navigating the app is a breeze, allowing you to access different menus effortlessly. Plus, eToro’s search function is designed to help you find stocks and other products quickly.
What truly sets eToro apart is its unique copy-trading feature, which empowers you to follow expert traders and replicate their trades with just a single click. This feature provides an excellent opportunity for beginners to gain confidence and learn from seasoned investors. Additionally, eToro boasts a large community where you can interact and share insights through personalized news feeds.
Moreover, eToro offers you the advantage of a commission-free model, allowing you to buy shares without any commission. This means you can invest and trade with ease while keeping more of your funds working for you. However, it’s important to be aware of additional fees such as withdrawal and FX fees.
Regrettably, eToro does not offer spread betting services. However, we have provided alternative options for you to consider.
By choosing eToro as your trading app, you gain access to diverse trading options and enjoy the benefit of generally low commission fees. This makes eToro a cost-effective and accessible choice for you as a beginner trader.
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 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.
#3 InvestEngine
InvestEngine: Key Features
| 🕖 Time to open an account | A few minutes. |
| 💰 Minimum Deposit | £100 |
| 🛍️ Products offered | ETFs |
| 💰 Fees | 0%-0.25% (per year) |
| 💸 Trading fees class | Medium |
| ⚖️ Regulators | FCA |
InvestEngine: Pros and Cons
| ✔ Simple and intuitive investment platform. | ✖ Limited to ETFs. |
| ✔ No ISA fees. | ✖ No SIPP. |
| ✔ No deposit or withdrawal fees. | ✖ Flat fee structure – it does not reduce the more you invest. |
| ✔ Fractional Investing. | |
| ✔ One-click rebalancing. | |
| ✔ Easy to use app and website. |
Our Take on InvestEngine
If you are a beginner trader in the UK, InvestEngine is an excellent choice for a trading app. InvestEngine offers fractional investing, allowing you to invest as little as £1 in any ETF each month.
With InvestEngine’s “one-click rebalancing” feature, you have the power to quickly restore your ETF portfolio to its original weight. If you allocated 30% to ETF A and 70% to ETF B initially, and the allocation shifts over time to 35% and 65% respectively, a simple tap brings it back to your desired balance.
Moreover, smart orders empower you to set the investment amount and choose the weight for each ETF. By enabling Autoinvest, any money you deposit is automatically invested in your current ETFs, ensuring hassle-free investing.
InvestEngine has designed its platform specifically for UK investors like you. It offers personal accounts under the Stocks and Shares ISA, providing tax advantages, and a corporate account tailored for small to medium enterprises (SMEs).
The fee structure is transparent, putting you in control. Managed portfolios incur only a 0.25% annual management fee, while managing your own investments is completely free.
Finally, InvestEngine is authorized and regulated by the Financial Conduct Authority (FCA) and is a member of the Financial Services Compensation Scheme (FSCS), which gives you a protection amount (cash + assets) up to £85,000.
When investing your capital is at risk. Tax treatment depends on individual circumstances and is subject to change.
#4 Interactive Investor
Interactive Investor: Key Features
| 🕖 Time to open an account | <10 minutes |
| 💰 Minimum Deposit | £0 |
| 🛍️ Products offered | Stocks, ETFs, funds and bonds |
| 💳 Deposit Options | Bank transfers, credit, debit cards |
| 💸 Trading fees | Trading fees in the small investments category are relatively high. |
| ⚖️ Regulators | FCA |
Interactive Investor: Pros and Cons
| ✔ Excellent customer service | ✖ Platform fees expensive for small portfolios. |
| ✔ Flat platform fee (cost-effective for larger portfolios). | ✖ High trading fee for funds. |
| ✔ Extensive range of investments. | ✖ One of higher foreign exchange fees on non-UK shares. |
| ✔ Comprehensive research resources and tools. | |
| ✔ Fast and easy deposit and withdrawal. | |
| ✔ Pays interest on cash balances. |
Our Take on Interactive Investor
Founded in 1995 and incorporated as a private limited company in 2003, Interactive Investor has experienced significant growth by acquiring respected finance magazines such as Moneywise and Money Observer, along with TD Direct Investing, Alliance Trust Savings, and Share PLC.
Unlike many other providers, Interactive Investor stands out by offering the convenient option of phone support. This feature allows users to directly communicate with a representative during specified hours, providing an additional avenue for assistance.
For larger portfolios starting from £50,000, Interactive Investor presents a distinct advantage with its highly competitive and appealing fees. It is a standout choice in the market, offering fee structures that are typically hard to find elsewhere.
The platform implements a share trading fee, but it also presents notable advantages such as one free trade per month under the Investor Plan and two free trades per month under the Super Investor Plan. Moreover, Interactive Investor allows investors to hold up to nine foreign currencies in their account, effectively reducing foreign exchange fees.
If you have an interest in cryptocurrencies, Interactive Investor may not be the right platform for you. We recommend exploring our range of alternative options to the Interactive Investor cryptocurrency platform. These alternatives allow you to directly invest in cryptocurrencies.
When it comes to investment options, Interactive Investor provides a diverse selection of over 40,000 investments, encompassing shares, funds, investment trusts, and exchange-traded funds (ETFs). However, it is important to note that trading in fractional shares, cryptocurrency, and forex trading is not supported by the platform.
Notably, Interactive Investor provides interest on uninvested cash balances in trading accounts, Individual Savings Accounts (ISAs), and Self-Invested Personal Pensions (SIPPs), with rates ranging from 0.5% to 2.0%, depending on the account type and balance.
Conclusion
To sum it up, here are our recommended trading apps that are best for beginners in the UK:
| #1 | Interactive Brokers | Best all-round app |
| #2 | eToro | Best app for social trading |
| #3 | InvestEngine | Best app for ETFs |
| #4 | Interactive Investor | Best app for customer service |
FAQs
Which trading app is the best in the UK?
The selection of the “best” trading app depends on your individual preferences and goals. However, there are several popular and trusted options in the UK. The recommended apps include the ones mentioned above.
Which trading app is the best for beginners in the UK?
All of the trading apps mentioned above are suitable for beginners. They have user-friendly interfaces and features that make it easy for beginners to start their trading journey. If you choose IBKR, it’s recommended to use the IBKR GlobalTrader platform instead of the mobile app as it provides additional features and tools specifically designed for beginners.
How much capital do I need to start trading?
You don’t need a large capital to get started in trading. Many trading apps in the UK allow commission-free trading for stocks and ETFs and have no minimum deposit requirements. IBKR mobile and eToro are examples of trading apps in the UK that offer these advantages.
What is better? A desktop computer or a trading app?
Trading apps are a great choice for beginners allowing you to monitor and execute trades anytime and anywhere using your mobile device. You have access to real-time market data, news, and analysis, keeping you updated on the latest market trends and helping you make informed trading decisions.
Trading apps often have lower minimum deposit requirements, making it more accessible for beginners to enter the trading world with smaller capital compared to desktop platforms. Lastly, trading apps offer alerts and notifications to keep you informed about market movements and price changes, helping you seize trading opportunities.