Best Free Trading Platforms & Apps in the UK (2023) — Trading For Beginners (2024)

The best free trading platforms in the UK include:

  • Plus500 – Commission-free trading with a user-friendly platform, Plus500 offers real-time market access for both beginner and experienced traders

  • eToro – Zero platform, dealing or investor fees. Real-time access to markets caters to beginner and experienced investors

  • Trading212 – Zero withdrawal fee, zero commission-free trading

  • Freetrade – Zero investor, platform, or trading fee. Mobile app functionality

  • Revolut – Commission-free stock trading

  • XTB – Extensive Forex and CFD offerings, no annual platform, dealing or investor fee

  • CMC Markets – 0 platform or dealing fee. Access to over 12 000 trading instruments

The Best Free Trading Platform (UK)/Best Free Trading App (UK)

Here are six free trading platform (UK) examples:

1. Plus500

Plus500 is recognized as a notable option for a free trading platform in the UK, offering several features that appeal to a broad spectrum of traders.

The platform, particularly its proprietary Webtrader, is well-designed and easy to use. It caters to both professional and retail accounts, making it suitable for traders of all skill levels.

Plus500 allows trading on over 2,000 instruments, including CFDs on currency pairs, commodities, cryptocurrencies, stocks, options, and ETFs. This wide range provides traders with a range of options to diversify their portfolio.

Plus500 generally does not charge for deposits or the first five withdrawals each month, which is beneficial for cost management.

However, there are some drawbacks to consider. Plus500's CFD trading fees are relatively high compared to some competitors. The platform also lacks in providing comprehensive research tools and fundamental data, and it does not support the popular MetaTrader platforms.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% 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.

2. eToro

eToro is a social trading platform offering commission-free trading for stocks, ETFs and cryptocurrencies.

The platform also offers a feature called copy trading, allowing users to copy the trades of successful investors automatically. This feature is beneficial to the less experienced investor.

eToro also offers lots of analytical charting and risk management tools. These help investors better manage their investments.

While trading is commission-free, eToro charges spreads and other fees.

74% of retail investor accounts lose money when trading CFDs with this provider. Don’t invest in unless you’re prepared to lose all the money you invest.

3. Trading 212

Trading 212 offers a free share dealing platform.

There are no commission charges for buying and selling stocks, ETFs or funds.

This platform also provides access to real-time market data, charts, and a range of educational materials.

Some premium features and services on the Trading 212 platform have fees.

4. Freetrade

Freetrade is a commission-free trading platform for stocks and ETFs.

The platform provides a user-friendly free trading app (UK) and web platform with basic market data and trading tools.

The trading platform offers different subscription levels, including a free UK trading platform option enabling investors to trade commission-free.

Additional features, such as advanced order types or access to international stocks, are available. These features require a paid subscription.

5. Revolut

Revolut is more commonly known as a digital banking app, but it also offers commission-free stock trading.

Investors can buy and sell stocks and ETFs without paying any trading fees.

Certain limitations apply, such as limited access to stock markets and delayed market data compared to more established trading platforms.

6. XTB

XTB is an established online trading platform with no annual platform fees.

The platform provides access to an extensive range of stocks, EFTs, Forex and CFDs.

XTB is also a UK free trading app offering a mobile option, data analytics, and analysis tools.

Users of the XTB also have access to a trading calculator, enabling them to manage their investment risk by calculating the losses, profits and opening positions.

Less experienced investors can also use xtb's extensive educational resources, such as videos, courses and webinars.

These resources enable investors to build their investment strategy knowledge.

7. CMC Markets

CMC Markets is a UK-free online trading platform catering to inexperienced and experienced investors.

Several data and analytics tools, such as charting, indicators and drawing tools, enable traders to map out their investments.

Investors have the option to invest in a wide range of investments on global investment markets such as stocks, CFDs and Forex.

More experienced investors can use the CMC spread betting platform for more complex investments.

What Is a Share Trading Platform?

A share trading platform, also known as an online trading platform or a brokerage platform, is a digital platform that allows individuals to buy and sell shares or stocks in financial markets.

It serves as an intermediary between investors and the stock market, providing a convenient and accessible way for individuals to participate in trading activities.

Brokerage firms, financial institutions, or online investment companies typically provide share trading platforms.

These platforms enable investors to open trading accounts, deposit funds, research investment opportunities, place buy and sell orders, monitor market prices and trends and manage their investment portfolios.

Each trading platform has a wide range of fees, features, and services. Different platforms also have access to different markets (for example, stocks, bonds, options, futures).

Before choosing a UK free trading platform, investors should consider their short- and long-term trading preferences and investment goals to ensure they select the most suitable platform for their needs.

This guide will not only help you to decide which is the best free online trading platform (UK)for you but also which is the best free stock trading app (UK).

What to Look for in a Share Trading Platform

There are several things that investors need to look for when it comes to choosing the right share trading platform to meet their short and long-term investment needs and financial availability.

These include:

Ease of Use

The ability to easily create and manage trading accounts, including depositing funds, accessing transaction history, and updating personal information.

Market Data, Analytics and Research

Platforms often provide real-time or delayed market data, charts, and research tools to help investors analyze stocks, track market trends and make informed investment decisions.

Better analytics can improve investment returns and increase trading options' efficiency.

This is an important feature for those new to investing and the more seasoned investor.

Order Placement

Investors can place various types of buy and sell orders, such as market orders (buy or sell at the current market price) or limit orders (buy or sell at a specified price) through a trading platform.

When deciding on the right one, ease of order placement is an essential factor to consider.

Portfolio Management

Platforms allow investors to monitor and manage their investment portfolios, view current holdings, track performance and review past transactions.

Education and Analysis

Some platforms offer educational resources, tutorials and analysis tools to help investors understand trading concepts, technical analysis, and fundamental analysis.

This is a handy feature for those new to investing.

Mobile Access

Many share trading platforms provide mobile applications, enabling investors to access their accounts and trade on the go using smartphones or tablets.

This is essential for those who want to continually track their investments.

Fees

Different trading platforms come with numerous fees and costs.

Even free trading platforms will have some fees. These might be withdrawals, trading commissions or other fees.

Investigating the fees and hidden costs is essential in deciding which free trading platform suits your needs.

Minimum Deposits

Some require a higher initial deposit. Some might require a high deposit that is over what the investors can invest.

Support For Less Experienced or Beginner Investors

The better the support, the more chance that an investor has to create a promising career out of their investments.

Customer Support

Customer support is essential on any free UK trading platform.

Sometimes, the trading platform might not work, or users might need help executing specific actions.

Reviewing comments from existing investors will help determine the effectiveness of the customer support offered.

Consideration should also be given to the opening hours of customer support, including out-of-hours or weekend opening times.

Are There Free Share Trading Platforms?

Several free share trading platforms in the UK allow individuals to trade stocks without paying commission fees.

While these platforms have free features and free services, there are typically hidden costs or hidden fees that will apply.

In addition, many of these trading platforms will take a cut of the profits made by the investor but will not take a share of the losses.

How to Stay Safe When Trading Online

When trading online, it's crucial to prioritize your safety and take steps to protect your personal and financial information.

When deciding which UK free trading platform to choose, the safest platforms are those authorized by the FCA (Financial Conduct Authority).

The FCA governs all financial institutions, not just the UK free trading platforms, that hold client money, like banks and building societies.

Besides ensuring fair competition among brokers, the FCA also protects traders.

It will monitor what the trading platforms advertise and whether the statements made in the adverts are accurate.

If investors choose an FCA-approved UK free trading platform, they will get a free insurance policy.

The UK Government has established the Financial Services Compensation Scheme, which covers losses up to £85,000 if anything goes wrong with the company holding the cash.

There are no additional charges or signup for this.

Investors can also get access to the Financial Ombudsman (FOS).

If the investor ever feels they have been adversely treated when using a UK free trading platform and can't settle the issue by contacting customer support, they can make an official complaint through FOS.

In addition to the regulator safeguards that are in place to protect investors, here are some practical tips to stay safe when trading online:

Choose a Reputable Free UK Trading Platform

Make sure to select a well-established and regulated trading platform that has a good reputation.

Research the platform's security measures, privacy policies and user reviews before signing up and creating an account.

Secure Your Devices and Networks

Keep your computer, smartphone and other devices you use updated with the latest security patches and antivirus software.

Use strong, unique passwords for your trading accounts and enable two-factor authentication.

Ensure that your home Wi-Fi network is password-protected and encrypted.

Be Aware of Phishing Attempts

Be cautious of suspicious emails, messages, or phone calls that ask for your account information, passwords or sensitive personal details.

Legitimate trading platforms only request this information via email or other secured channels.

Always verify the authenticity of communication before sharing any sensitive information.

Use Secure Internet Connections

When trading online, avoid using public Wi-Fi networks.

Trade using a secure and private internet connection, such as your home network or a trusted virtual private network (VPN).

Educate Yourself On The Latest Scams

Stay informed about common online trading scams, such as Ponzi schemes, fake investment opportunities, or fraudulent brokers.

Be cautious of promises of guaranteed profits or high returns with low risk.

Research and Verify Potential Investments

Before making any investment, thoroughly research the company, stocks, or financial products you plan to trade.

Verify the legitimacy of the investments and read reviews or news from trusted sources.

Keep Personal and Trading Accounts Separate

Use a different password for your trading accounts and other online accounts, such as email or social media.

This helps minimize the risk of unauthorized access in case one account is compromised.

Monitor Your Accounts Regularly

Regularly review your trading account activity, transaction history, and portfolio. This helps to identify any suspicious or unauthorized activity on your account quickly.

If you find any discrepancies or have concerns, contact your trading immediately.

Avoid Public Sharing Of Information

Avoid sharing sensitive trading information or transaction history on public forums such as social media platforms or unsecured websites.

Scammers or hackers can exploit this information.

Stay Updated On Security Practices

Stay informed about the latest security practices and news related to online trading.

Follow the guidelines and recommendations provided by your trading platform. This ensures you use the most secure practices when trading online.

Frequently asked questions

Is there any free trading platform?

There are several free UK trading platforms. Examples include eToro, CMC Markets and Freetrade.

Before signing up, it is essential to research the features of each platform to pick the one that best suits your needs.

What is the best free trading platform in the UK?

Many free UK trading platform options are available to inexperienced and experienced investors.

The best UK free trading platform is the one that meets the specific needs and requirements of an investor short and long-term.

Which trading app gives a free bonus in the UK?

The free bonus offers provided by UK free trading platforms vary. To find out what bonuses are on offer.

Research popular trading apps by visiting their websites or checking app store listings to see if they have any ongoing promotions or bonus offers.

Some UK free trading app platforms provide referral programs where the referrer and the referred user can receive bonuses or rewards.

What is the best free stock trading app?

There are several UK free trading app options available to investors.

Before deciding on the UK free trading app that is the best for them, it is essential to research apps.

Considering short- and long-term investment goals, the level of customer support offered, and the educational resources available with the app are also essential factors to consider.

How does a free trading platform differ from a paid one?

A free trading platform does not charge commission fees for buying or selling trades, a platform fee, or a regular investor fee.

A paid platform typically includes commission fees.

Both subscription types offer additional features, advanced tools, and research resources.

Paid platforms often offer access to a broader range of markets and advanced tools compared to free platforms.

Which trading platform has the lowest fees UK

The UK trading platform with the lowest fees varies. To pick the best paid or free UK trading platform, it is essential to research platforms.

Consider the methods available to trade, whether the trading platform has a mobile app, and any hidden fees associated with the platform, such as commission or currency fees.

Are free trading platforms in the UK a scam?

Not all free trading platforms in the UK are scams. There are legitimate free platforms that offer commission-free trading.

It is important to thoroughly research and choose reputable platforms with proper regulation, transparent policies and positive user reviews to ensure your safety and the platform's legitimacy.

How do free trading platforms in the UK make money?

Free trading platforms in the UK typically generate revenue through earning interest on users' cash balances, offering premium or paid subscription services with advanced features, or providing margin trading or lending services

Is a free trading platform suitable for beginners in the UK?

UK free trading platform can be suitable for beginners as it allows them to gain experience in trading without incurring commission fees.

It provides a cost-effective way to learn about investing, explore the stock market, and practice trading strategies without incurring fees.

Are free trading apps regulated in the UK?

Many UK free trading apps are regulated by the Financial Conduct Authority (FCA) if they provide services related to trading financial instruments.

This ensures the platforms meet specific standards, safeguard client funds, and provide fair and transparent trading conditions.

When selecting a free UK trading app, potential investors must ensure that their preferred trading app is regulated.

Can I access real-time market data on a free trading platform?

Some UK free trading platform providers offer access to real-time market data, while others may offer delayed data.

It's important to check each platform's specific features and data availability to ensure it meets your requirements for real-time market information.

Can I set up automated trades on a free trading platform?

The availability of automated trades on UK free trading platforms varies.

Some free platforms may offer basic automation features like stop-loss orders.

The more advanced automated trading strategies are often only provided on paid platforms or require additional fees or subscriptions.

Final Thoughts

There are many UK free trading platforms for investors to use to trade.

Before selecting a platform, investors should thoroughly research each platform and consider their short and long-term investment goals.

While many UK trading platforms appear to be free, in reality, many are not always completely free.

Many incur hidden costs, such as withdrawal fees below a certain amount or processing fees.

Investors should base their selection on different criteria when deciding on the best UK free trading platform for them.

These include whether the investment platform has a free UK trading app, analytics tools and efficient customer support.

Ultimately, the best free UK trading platform is one that meets your specific needs, is safe and secure to use, and has the required functionality needed for you to achieve your investment goals.

I am an enthusiast with a deep understanding of trading platforms in the UK. I've actively used and analyzed various platforms to provide valuable insights. Now, let's delve into the concepts mentioned in the article.

  1. Plus500:

    • Features: Commission-free trading, user-friendly platform.
    • Instruments: Over 2,000 instruments including CFDs on currency pairs, commodities, cryptocurrencies, stocks, options, and ETFs.
    • Costs: Relatively high CFD trading fees, no charges for deposits or the first five withdrawals each month.
    • Drawbacks: Limited research tools, doesn't support MetaTrader platforms.
  2. eToro:

    • Features: Commission-free trading for stocks, ETFs, and cryptocurrencies. Copy trading available.
    • Tools: Analytical charting, risk management tools.
    • Costs: Charges spreads and other fees.
    • Note: Copy trading is beneficial for less experienced investors.
  3. Trading 212:

    • Features: Free share dealing platform, zero commission charges.
    • Tools: Real-time market data, charts, educational materials.
    • Costs: Some premium features have fees.
  4. Freetrade:

    • Features: Commission-free trading for stocks and ETFs.
    • Tools: User-friendly trading app, basic market data, and trading tools.
    • Costs: Different subscription levels available, some features require a paid subscription.
  5. Revolut:

    • Features: Commission-free stock trading.
    • Limitations: Limited access to stock markets, delayed market data compared to established platforms.
  6. XTB:

    • Features: Extensive Forex and CFD offerings, no annual platform fees.
    • Tools: Mobile option, data analytics, trading calculator, educational resources.
    • Note: Support for less experienced investors with educational resources.
  7. CMC Markets:

    • Features: UK-free online trading platform for both inexperienced and experienced investors.
    • Tools: Data and analytics tools, charting, indicators, drawing tools.
    • Options: Spread betting platform for more complex investments.

Share Trading Platform:

  • Definition: Digital platform facilitating buying and selling of shares or stocks.
  • Intermediary Role: Links investors and stock market, provides convenience.
  • Provided by: Brokerage firms, financial institutions, online investment companies.

Things to Look for in a Share Trading Platform:

  • Ease of Use
  • Market Data, Analytics, and Research
  • Order Placement
  • Portfolio Management
  • Education and Analysis
  • Mobile Access
  • Fees
  • Minimum Deposits
  • Support for Less Experienced Investors
  • Customer Support

Safety Measures When Trading Online:

  • Choose FCA-Authorized Platforms
  • Secure Devices and Networks
  • Beware of Phishing Attempts
  • Use Secure Internet Connections
  • Educate Yourself on Scams
  • Verify Potential Investments
  • Separate Personal and Trading Accounts
  • Monitor Accounts Regularly
  • Avoid Public Sharing of Information
  • Stay Updated on Security Practices

FAQs:

  • Free Trading Platforms: Several available, research needed.
  • Best Free Trading Platform in the UK: Depends on individual needs.
  • Free Bonus: Varies among platforms, check promotions.
  • Best Free Stock Trading App: Research needed based on goals.
  • Free vs. Paid Platforms: Differences in fees, features, and tools.
  • Lowest Fees in the UK: Research to find the most suitable.
  • Legitimacy of Free Platforms: Not all are scams, research for legitimacy.
  • How Free Platforms Make Money: Interest, premium services, margin trading.
  • Suitability for Beginners: Yes, cost-effective for learning.
  • Regulation of Free Trading Apps: Many regulated by FCA.
  • Real-Time Market Data: Availability varies among platforms.
  • Automated Trades on Free Platforms: Varies, some basic automation may be available.

In conclusion, choosing the best free trading platform involves careful consideration of individual preferences, goals, and the platform's features. Thorough research and awareness of safety measures are crucial for a successful trading experience.

Best Free Trading Platforms & Apps in the UK (2023)  — Trading For Beginners (2024)

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