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So, you’re looking to trade some Stocks, Forex or Cryptocurrencies in the UK? Well, you’ve come to the right place. In this guide, I’ll be showing you the top 9 trading apps in the United Kingdom.
Deciding on which trading app you use is a critically important decision as an investor.
Having been a hobbyist-trader turned professional, I have several years of experience using trading platforms in the UK.
Best Trading Apps in the UK (2020)
- eToro – Best overall
- Trading 212 – Best for experienced traders
- Plus500 – Best for CFD trading
- Freetrade – Best for buying stocks & shares
- Coinbase – Best for cryptocurrency trading
- Forex.com – Best for Forex trading
- Degiro – Best for low fees
- Currency.com – Best for cryptocurrency CFDs
- Hargreaves Lansdown – Best for reliability
For a more detailed overview of each mobile app and why it has received a spot in the top 9 in the UK, then keep reading.
eToro is by far the UK’s most popular trading app as it lets you trade Stocks, Indices, Commodities, Forex & Cryptocurrencies all from one app. It’s also very beginner-friendly and has a neat social feature called ‘CopyTrading’ which lets you follow other traders trades. It’s like Facebook and trading – all rolled into one.
Why use eToro?
- PayPal deposits & withdrawals – One of my favourite things about eToro is how easy it is to deposit/withdraw with PayPal, it also makes it easy to trust the service.
- Insured up to £50,000 per account – Even though eToro banks offshore, they are still cover you up to £50K which is great to know as peace of mind.
- 0%-commission stocks – As well as zero-commission stock offerings on eToro, you can also by fractional shares
- FCA & CySec approved – eToro is fully regulated by the Financial Conduct Authority in the UK and CySec for European traders.
- Well-trusted – eToro has several years of good reputation having provided a quality service for thousands of UK clients.
2. Trading 212
With over 1800 different instruments and an impressive 4.5/5 rating on Trustpilot, Trading 212 is ranked as our second favourite trading mobile app in the UK. It’s actually the most frequently downloaded trading app in the United Kingdom which comes as no surprise.
Why use Trading 212?
- FSCS protection of up to £85,000 – Trading 212 is covered by the Financial Services Compensation Scheme which protects your funds up to the value of £85,000 GBP.
- Regulated by the FCA – Trading 212 is a regulated trading platform in the UK and adheres to strict FCA guidelines.
- Zero commissions – Trading 212 doesn’t charge any commissions whatsoever on trades.
- Tight spreads – The spread is the difference between the bid and the ask on a trading app, the tighter, the better – Trading 212 is renowned for having extremely tight spreads.
- Instant & unlimited trades – Trading 212 allows you to open as many trades as you like, instantly.
If you’re looking to trade a wide range of CFDs in the UK, the Plus500 is the mobile app for you. Hosting a wide range of instruments which include, but are not limited to; Forex, Stocks, ETFs, Cryptocurrencies & Indices – Plus500 is one of the go-to trading platforms in the UK. Like many of the other apps in this list, Plus500UK Ltd is a fully regulated firm by the FCA.
Why use Plus500?
- It’s one of the oldest, most trusted trading platforms – Having been incepted in 2008, Plus500 is one of the most experienced tradings platforms which is trusted by thousands of people across the country.
- Advanced order types – Plus500 is ideal for the more advanced trader too as it offers multiple order types including Stop Losses, Stop Limits & Trailing Stops.
- Free demo account – You can practice trading on Plus500 with a free £40K demo account.
- Accepts PayPal & Credit/Debit cards – Make deposits and withdrawals on Plus500 with popular payment methods like PayPal.
Freetrade is by far my favourite mobile app to buy shares in the UK. I’ve been using it since 2019 and have fallen in love with how simple it is and the amazing user experience it provides. It’s not like the other trading apps on this list as it doesn’t let you trade with leverage, but it lets you buy/sell UK & International stocks for free – that’s right – completely for free.
Why use Freetrade?
- Buy & sell stocks for free – Freetrade lets you buy and sell stocks for free instantly – no commissions whatsoever.
- Automatic dividend payouts – Once you own shares, if dividends are paid out, they will be paid into your Freetrade account as cash.
- Instant Apple Pay deposits – Make deposits onto your Freetrade account instantly with Apple Pay.
- Refer a friend program – Refer a friend to Freetrade and you’ll both get a free share worth up to £200
- FSCS protection up to £85K – If anything should go wrong with Freetrade, you’re covered up to £85,000 GBP
If you want to trade cryptocurrencies, you’ll need to download the Coinbase app. As the world’s safest place to buy & sell cryptocurrencies like Bitcoin, Coinbase is my go-to place for investing in blockchain tech. Coinbase launched in 2012 and has become increasingly popular in the UK as a regulated place to trade cryptos.
Why use Coinbase?
- Trusted by 30M customers – Coinbase is the world’s most popular crypto trading app.
- Instant PayPal withdrawals – Coinbase lets you cash out instantly to PayPal, which makes it so easy to use.
- Free crypto wallet – Store and send multiple different cryptocurrencies with Coibase’s free crypto wallet.
- Trade other cryptocurrencies as well as Bitcoin – It’s not just Bitcoin you can trade on Coinbase, you can also buy/sell other coins like Ethereum & Tezos.
For Forex trading in the UK, the best online trading app by miles is Forex.com. It’s available on both IOS & Android (Google Play) and lets you trade over 90 different FX pairs. This mobile app is licenced in the UK and works with MT4.
Why use Forex.com?
- Market leader – Forex.com has been in operation since 2001 and has grown to be one of the highly-rated Forex apps in the UK.
- Free trading education – Forex.com provides free trading education in the form of video content which can help you get a head start in your journey to be a profitable trader.
- 5-minute signup – Get started with a Forex.com account in as little as 5 minutes.
- Low spreads – With spreads as low as 0.8 pips, Forex.com is a cheap place to trade the Foreign Exchange markets.
Having launched in 2013, Degiro has quickly built the foundations of an extremely solid broker in the UK. Degiro is well-known for offering low-fee trading services and a responsive, easy-to-use mobile application for IOS & Google Play.
Why use Degiro?
- Instant trades – Make instant trades on the Degiro mobile app.
- Real-time prices – Get live data on the current stock prices.
- Save up to 81% on fees against high-street banks – Degiro’s fees are significantly lower than those charged by UK banks for trading stocks & shares online.
- Trade with leverage – Degiro lets you trade with leverage which means that you can multiply your profits (and also losses).
Currency.com is a pretty revolutionary online trading app which lets you trade traditional financial markets with cryptocurrencies like Bitcoin & Ethereum. The mobile app offers up to 100x leverage which means that you can trade with 100 times more than the value of your account.
Why use Currency.com?
- Trade popular stocks like Apple with Bitcoin – Currency.com gives you a unique opportunity to trade stocks and shares with cryptocurrencies.
- Get a free account in minutes – The signup process on Currency.com is simple and only takes a few minutes to complete.
- Multiple payment methods – Includes bank cards (Visa & Mastercard), Crypto & bank transfers.
- Trade on a regulated platform – Currency.com is a regulated trading platform, which is transparent with operations.
Hargreaves Lansdown (also referred to as HL) is one of the UK’s best share trading apps which offers thousands of different share dealing options against the pound. The fees on Hargreaves Lansdown are a little bit higher than it’s competitors, but it offers a professional, well-trusted service for UK share dealing.
Why use HL?
- Trade UK & overseas shares – Hargreaves Lansdown lets you buy and sell popular UK shares as well as international ones and funds.
- Get live share dealing prices – HL clients have access to live share price data.
- Stay safe with 128-bit encryption – The Hargreaves Lansdown mobile app is fully encrypted so your data is kept secure.
- Trade with peace of mind – HL is also backed by the FSCS which means that your funds are covered up to £85K.
All of the mobile apps listed above are 100% free to download and open an account. All you need to do is register for a free account using the buttons and then download the official mobile app on the Apple App Store (IOS) or Google Play Store (Android).
After months of testing the best trading apps in the UK, we can confirm that the overall winner is eToro due to it’s ease-of-use, multiple instrument options and social trading features.
eToro: Best Trading App UK
Best UK Trading Apps: FAQs
Yes, trading on a regulated app is legal in the United Kingdom,
You need to check that they are regulated by visiting their website, also you can check the FCA register to see if they are approved.
It’s not necessary that you have trading experience before using a trading app in the UK, although it is recommended that you asses your sitatuion to see if you can afford to lose any money trading.