Best Trading App UK | 5 FREE Stock Trading Apps in 2021 - EconomyWatch.com
With the vast majority of online stock brokers now offering free stock trading apps in the UK, trading has become more convenient than ever before. But how do you choose the right trading app to gain access to the financial markets and hundreds of tradable assets from your mobile phone?
In this beginner's guide, we'll cover all the basics as well as highlight the best trading apps UK in 2021.
Table of Contents
Best Stock Trading Apps UK List
Here's a snapshot of the best trading apps UK in 2021:
- eToro – Best Stock Trading App UK for Commission-free Trading
- Capital.com – Top-rated CFD Trading App UK with 0% Commission
- Libertex – Top CFD Trading App UK with zero spreads
- Fineco – Low-cost Stock Trading App with Stocks as low as £2.95 per trade
- XTB – Top Trading App with Stock & ETF Screener
- Plus500 – CFD Trading App with User-Friendly Demo Account
- IG – Popular Stock Trading App UK that Supports MT4
- Trading 212 – Best Stock Trading App UK to Invest as Little as £1
Best Stock Trading Apps UK in 2021 Reviewed
Are you looking to trade stocks and other popular assets with the best free stock trading apps UK in 2021?
In this section, you'll find in-depth reviews of the best trading apps in the UK that are compatible with both Android and Apple devices.
1. eToro – Best Stock Trading App UK for Commission-free Trading
Launched in 2006, eToro has become one of the most popular and trusted free stock trading apps in the UK and around the world. With over 20 million active traders, eToro offers a wide range of financial products and instruments from CFDs and cryptocurrencies, to forex, stocks and ETFs. The best part is that you can buy stocks with 0% commission on your mobile device anywhere at any time.
Tradable assets
Moreover, at eToro not only can you gain exposure to stocks listed on UK exchanges, but you can invest in stocks listed on 17 international stock markets with the swipe of a finger. For instance, you can buy UK stocks and stocks listed on the NYSE with 0% commission. You may be asking yourself the following question: if there are no commissions what fees do I pay when buying and selling tradable assets on eToro? eToro only charges the spread which is the difference between the bid and ask price.
CFDs & Fractional Share Trading
Furthermore, you can take ownership of stocks or you can speculate on the price movements without taking ownership of the underlying asset. The latter is a result of CFD trading which allows you to trade with leverage. eToro also offers fractional share trading which means that you can invest as little as $50 to buy a portion of a whole stock. This is useful when you consider that Amazon stocks are valued in excess of $3,500.
Copy Trading & Regulations
eToro provides access to copy trading features that work as catalysts for passive online trading. This means that you can copy the trades of other experienced traders with the click of a button from your smartphone device. Is eToro safe? eToro is authorized and regulated by several top financial authorities including the UK's FCA, CySEC, and ASIC. As well as negative balance protection, UK-based clients are covered by the Financial Services Compensation Scheme which protects your funds in the unforeseeable event that the broker goes bust.
In summary, we recommend eToro as the best trading app in the UK for beginners.
Pros
- Low first-time deposit of £200
- Invest as little as $50 with fractional share trading
- User-friendly top trading app UK
- Heavily regulated by FCA, CySEC and ASIC
- Free demo account with $100,000 paper funds
Cons
- $5 withdrawal fee
67% of retail investor accounts lose money when trading CFDs with this provider.
2. Capital.com – Top-rated CFD Trading App UK with 0% Commission
Capital.com is a well-known FX and CFD broker that was founded in 2016 and is regulated by several major financial regulators, including the UK's FCA.
Capital.com offers FX trading as well as a wide range of CFD derivatives. Capital.com traders have access to MetaTrader 4, mobile trading apps, web and desktop platforms, spread betting, TradingView, and other trading platforms. In terms of trading fees and commissions, Capital.com offers 0% commission on CFD trading and forex trading. This means that all you have to pay is the spread, typically measured in pips. Traders also have access to leverage of up to 5:1 when investing in stock CFDs. When it comes to non-trading fees, Capital.com is also one of the cheapest trading apps in the UK. With zero deposit fees, withdrawal fees, inactivity fees and account fees, Capital.com is ideal for beginner traders looking for a cost-effective free stock trading app UK.
Credit cards, debit cards, bank wire transfers, Sofort, iDeal, Giropay, Multibanko, Przelewy24, QIWI, Webmoney, ApplePay, Trustly, 2c2p, and AstropayTEF are all supported payment options for funding your Capital.com account. All payment methods have a $20 minimum deposit, except wire transfers, which have a $250 minimum deposit.
Pros
- Trade thousands of stock CFDs with 0% commission and tight spreads
- Access to tons of educational materials
- Use 75+ technical indicators on charts
- Fully regulated by the UK's FCA
- Several payment methods including Apple Pay with £0 deposit fees
Cons
- Cannot set price alerts on the web trading platform
67% of retail investor accounts lose money when trading CFDs with this provider.
3. Libertex – Top CFD Trading App UK with Zero Spreads
Libertex is one of the best free stock trading apps in the UK as it allows you to invest in stock CFDs on a spread-free basis. Simply put, the spread is the gap
between the buy and sell prices. As a result of these zero spreads when trading CFDs with Libertex, this free trading app UK charges a commission ranging from 0% to 1.623% depending on the asset. All the commissions can be located on the CFD specification page. With CFD derivatives trading you get to speculate on the price movements of the underlying assets and use leverage to boost your potential profits. CFD trading comes with a couple of advantages such as being able to go long or short. In other words, if you believe that the price of a stock will rise you buy and if you think the price will decline you sell. Additionally, trading CFDs with leverage gives you full market exposure at a fraction of the cost. As well as stock CFDs, you can diversify your portfolio with forex CFDs, crypto CFDs, ETF CFDs and more.
If you're an experienced investor you might prefer to use the MetaTrader 4 platform with a Libertex account. To get started just download the MT4 trading app to your Apple or Android device and log in using your Libertex account details. Is Libertex safe? Libertex is a trading platform used by Indication Investments Ltd. that is regulated by CySEC (the Cyprus Securities and Exchange Commission) with CIF licence number 164/12.
Pros
- £0 deposit fees and zero spreads
- Low fees and user-friendly search functionality
- Wide range of payment methods.
- Regulated by CySEC
- Trade crypto CFDs, forex CFDs, Commodity CFDs, and more with leverage.
Cons
- Only offers CFD trading
4. Fineco – Low-cost Stock Trading App with Stocks as low as £2.95 per trade
Fineco is a Milan-based financial services company that is widely popular amongst EU traders. Its stock trading app allows you to trade in financial asset classes including stocks, bonds, and ETFs. At Fineco you can also trade options and futures which allows this top trading app to cater to both beginners and seasoned professionals.
The Fineco stock app offers 20,000 markets across 26 international exchanges. When you trade CFDs on Fineco you just pay the spread. The typical spread for the FTSE 100 index CFD is just 0.6 pips. Take into account that there is a difference between the cost of trading CFDs and traditional stock trading. Stock listed on the LSE are £2.95 a trade whereas if you opted for the stock CFD derivative you would benefit from 0% commission, as you would just pay the difference between the bid and ask price. Fineco also has low-cost non-trading fees such as no deposit fees and no inactivity charges.
Is Fineco safe? Fineco is regulated by the Bank of Italy, the UK's Financial Conduct Authority, and the Prudential Regulation Authority. If you're wondering about compatibility, the Fineco trading app is available on both iOS and Android devices. We found that Fineco charges £0 deposit fees but only supports bank transfers.
Pros
- No minimum deposits
- Heavily regulated by the FCA
- Buy LSE stocks from £2.95
- Access to 20,000 markets across 26 exchanges
- Low non-trading fees, and great charting tools
Cons
- Limited payment options
5. XTB – Top Trading App with Stock & ETF Screener
Another popular trading app is XTB, which offers CFDs on several markets. You can trade over 2,100 stocks and ETFs from 17 international stock markets
with this top-rated stock trading app. There are also 49 currency pairs, 25 cryptocurrencies, and a plethora of indices and commodities to trade. At XTB, all CFD trades are commission-free, and share trading spreads start from 0.015 percent. One of XTB's best selling points is its fully-fledged mobile app xStation 5. Built with active traders at the forefront of its design, you can access useful trading features such as technical charts and real-time market news feeds. Moreover, you can even access trading ideas and investor sentiment gauges so that you can see what other investors are recommending for trending assets.
Another great feature of the XTB trading app is its fully integrated stock and ETF screener. Screeners allow you to browse through and identify your favorite stocks and ETFs based on your own filters and criteria. You can easily create watchlists and set up free mobile trade alerts so you can make a trade when the right opportunity arises.
Is XTB safe? XTB is regulated by the FCA and CySEC. Negative balance protection is also provided to all clients, which is a big bonus. Furthermore, there is no minimum investment to get started with XTB, and customer services are available 24/5.
Pros
- User-friendly mobile trading app
- Useful stock and ETF screener
- Trade directly from the XTB charts
- Low spreads when trading forex pairs
- Regulated by the FCA
Cons
- Limited range of ETFs
6. Plus500 – CFD Trading App with User-Friendly Demo Account
Plus500 traders can speculate on the price of stocks, indices, commodities, currency, options, cryptocurrencies, and exchange-traded funds (ETFs) without
gaining ownership of the underlying assets. This is the premise of CFD trading, and Plus500 is one of the best UK CFD trading apps available. Founded in 2008, Plus500 went public on the London Stock Exchange in 2013 and subsequently joined the UK FTSE 250 index in 2018. Most of Plus500's services are offered without a charge, including zero deposit fees, and no charges when you open and close positions, as well as 0% commission CFD trading. The majority of the trading fees charged by Plus500 are included in the spread. This top-rated trading app is constantly growing its client base and currently offers a portfolio of 2,000+ financial instruments.
Plus500 is a free trading platform that allows you to trade CFDs without paying a commission. This is perfect for traders of all levels of experience who want a low-cost option to trade a wide range of financial assets. On Plus500, the majority of the trading fees are built into the spreads.
Plus500 is regulated and authorized by the UK's FCA to offer CFD trading services.
Pros
- No deposit fees & wide range of payment methods
- Clients' funds are held in segregated bank accounts
- Fully regulated and licensed with the FCA
- Offers commission-free CFD trading on heaps of markets with low spreads
- Free demo trading account
Cons
- No fundamental data provided
7. IG – Popular Stock Trading App UK that Supports MT4
Launched in 1974, IG gives you access to 17,000+ markets and serves more than 240,000 active traders across the world. This CFD and forex broker allows
both beginner and advanced investors to take advantage of unique trading opportunities using CFDs and spread betting. On the flip side, if you are looking to take ownership of the underlying assets you can invest in the traditional sense. IG provides access to heaps of ETFs and stocks, as well as a wealth portfolio managed by a professional IG investor. IG has competitive non-trading fees including zero deposit and withdrawal fees. You can go long or short on more than 16,000 international stocks and 6,000 ETFs with IG's user-friendly mobile app. In terms of trading commissions and fees these fall into three categories:
- Stock CFDs, real stocks, and options come with trading commissions]
- You have to pay the spread when it comes to trading stock index CFDs, commodity CFDs, and forex trading.
- Smart Portfolios involve an administration fee and you have to pay the difference between the bid and ask price.
You can deposit funds with a debit/credit card, PayPal, or bank account.
Is IG safe? IG's CFD accounts are provided by IG International Ltd which is authorized by the Bermuda Monetary Authority to conduct investment and digital asset business. IG is also regulated by the FCA, the US Commodity Futures Trading Commission and National Futures Association, the Australian Securities and Investment Commission, the Bermuda Monetary Authority, and the Financial Services Authority of Japan.
Pros
- No deposit fees
- Access to a demo account
- Market-leading spreads
- Streamlined account-opening process
- Deposit funds via debit/credit card, PayPal, or bank transfer.
Cons
- Does not offer fractional share trading
8. Trading 212 – Best Stock Trading App UK to Invest as Little as £1
Trading 212 is mainly a CFD and forex trading app, but investors can also trade stocks and ETFs with 0% commission. With access to thousands of financial
assets to choose from, you can pick between three account types based on your experience level and trading goals. Established in 2004, Trading 212 is a UK-based fintech stock trading app that facilitates commission-free trading and offers user-friendly platforms. Trading 212 users can trade forex, stocks, ETFs, and much more within minutes. Trading 212 is notorious for its low-cost trading offerings with all supported assets offered on a commission-free basis. This means that the broker is compensated for its services via the spreads. Most US and UK stocks trade with an average spread of 0.50%. On the other hand, trading low liquidity share CFDs with Trading 212 can lead to spreads of almost 10%. The minimum buy/sell order for Invest and ISA accounts is just £1. When it comes to non-trading fees there are no deposit fees up to £2,000, and no inactivity fees.
While there are no deposit fees for bank transfers, there is a 0.7% deposit fee when you deposit £2,000+ with a credit card, debit card, Google Pay, Apple Pay, Skrill, iDeal, DotPay, GiroPay, and Sofort. Is Trading 212 safe? Trading 212 is regulated by the UK's Financial Conduct Authority and the Financial Supervision Commission in Bulgaria. Moreover, all clients' funds are held in segregated accounts and are covered up to £85,000 by the Financial Services Compensation Scheme (FSCS).
Pros
- Three trading accounts to choose from
- Trusted stock trading app with 15+ million downloads
- Automated trading with AutoInvest
- Heavily regulated by the UK's FCA
- Wide range of supported payment options
Cons
- Customer support cannot be reached via live chat or phone
Best Stock Trading Apps UK Fees & Features Comparison
How do each of the best stock trading apps UK perform when compared and contrasted? Let's take a look at the following comparison chart:
| UK Trading App | Number of Stocks | Stocks or CFDs? | Stock trading fees | Inactivity fees | Deposit fees | Features |
| eToro | 2,000 | Both | Free for real stocks, spread for CFDs | After 12 months with no login activity, a $10 monthly inactivity fee will be charged | Free | Social trading, copy trading, CopyPortfolios, User-friendly mobile trading app, Fractional share trading |
| Libertex | 50 | CFDs | 0%-0.46% commission | £10 for users with account balances lower than £10,000 that fail to place significant trades for six months. | None | MT4, blog, trading course |
| Fineco | 10,000 | Both | From £2.95 for real stocks, Free for UK, US and EU share CFDs | None | None but you can only deposit via bank transfer | Customisable trading platform, advanced tools, stock screener |
| XTB | 2,100 | CFDs | Variable spread | £10 per month after one year without trading. | None | Stock screener, news feed, trade ideas |
| Plus500 | 1,500 | CFDs | Variable spread | $10 inactivity fee per month after three months of inactivity | None | News and insights, alerts, risk management tool |
| IG | 10,000 | Both | £0 – £10 commission | You pay a £12 inactivity fee per month after 2 years. | None | ProRealTime, MT4, APIs |
| Capital.com | 3,000 | CFDs | Variable spread | None | None | AI trading, webinars, Capital.com TV |
| Trading 212 | 10,000 | Both | Free for real stocks, spread for CFDs | None | No fees for bank transfers and instant bank transfers. | AutoInvest, Pies, ISAs |
What are Free Stock Trading Apps UK?
Free stock trading apps are downloadable applications that are compatible with most mobile devices such as smartphones and tablets. The best trading apps across the board are those that allow you to buy and sell stocks and manage your investment portfolio while on the go at any time. These trading apps are great for the average trader and active, experienced investors.
The best stock trading apps UK are user-friendly, provide unique features to make your online trading more convenient and efficient, and make it easy to deposit and withdraw funds into and from your trading account. These stock trading apps charge low-cost fees and provide a variety of assets to invest in.
Top-rated online brokers offer trading platforms that are available to be downloaded to your desktop or via the App Store and Google Play Store as mobile trading apps. You can also trade via designated web-based trading platforms which do not require any downloading whatsoever.
Free stock trading apps are a convenient way to buy and sell stocks or invest in stock CFDs with the tap of a finger from your mobile device. eToro offers commission-free stock trading which means that you can trade stocks without paying a penny in commissions, anywhere at any time from your own smartphone or tablet.
How do Free Stock Trading Apps Work?
To put it simply, free stock trading apps work in the same way as a conventional online brokerage account. In other words, you will need to register an account with a regulated and trusted broker such as eToro, undergo the KYC process for verification purposes, deposit funds into your online trading account, and then trade stocks traditionally, or via CFDs and fractional share trading.
Essentially, there are very few differences between mobile trading apps and desktop or web trading platforms. That is to say, the trading process is the same whether you buy and sell financial assets such as stocks from your smartphone or via a web trading platform.
Does eToro offer a free stock trading app?
As such, you could invest in the highest trending stocks listed on 17 international exchanges with as little as $50 from the eToro mobile stock trading app. Opening an account, depositing funds, and investing in a myriad of stocks can be done from the eToro free stock trading app in a matter of minutes.
This means that you can stay ahead of the game by setting push notifications and price alerts to notify you in real-time when prime trading opportunities arise. Furthermore, as eToro offers fractional share trading you can invest with as little as $50 to take ownership of a percentage of a whole stock.
What are the Benefits of Using Free Stock Trading Apps UK?
Besides convenience, several benefits come with using free stock trading apps such as:
- Being able to close losing positions instantly – Let's imagine you had an open position on Amazon stocks, and while on your commute to work you read that Amazon had just postponed its dividend payouts for the rest of the year. This type of negative financial news typically triggers bearish sentiment which often leads to a drop in market prices. Professional traders are prepared for such events and would likely close their AMZN stock position with the click of a button on their free stock trading app. For those who don't have access to a mobile trading app, they would have to wait until they had access to a desktop device before closing their position, which can lead to unnecessary potential losses.
- Stay updated with real-time stock push notifications – The best trading apps UK are riddled with innovative trading features and tools. One of the most useful and important tools is real-time price alerts and push notifications. For example, let's say you had your investing sights set on Apple stock. The current price of Apple stock is 143.73 USD, and your technical research along with the consensus from expert investment analysts indicates that there may be an imminent bear market trend if the price jumps above the $150 mark. With that in mind, you set a price alert on your free stock trading app. If Apple stock reaches $150, you'll be pinged in real-time directly on your mobile device allowing you to capitalize on the unique trading opportunity.
- Manage your portfolio from anywhere, at any time most convenient to you – Keeping track of your portfolio with a free stock trading app on your mobile device is also a great time saver and convenient feature. Normally, you'd need to fire up your computer and log into your preferred trading platform. You can monitor the performance of your portfolio from your free stock trading app.
Are Free Stock Trading Apps Safe?
This is one of the most important aspects when it comes to choosing the best trading app for your financial needs and investment goals.
- Is the online stock broker regulated?
- What client fund protection schemes are in place?
- Where will my funds be held?
These are all questions that you need to ask yourself when assessing the safety and security of your chosen stock trading app. Let's take eToro as a prime example:
- The eToro free stock trading app is regulated by the UK's Financial Conduct Authority and complies with strict standards designed to combat money laundering and online fraud.
- According to eToro at least 90% of all clients' funds are held in segregated bank accounts.
- UK-based traders are protected by the Financial Services Compensation Scheme (FSCS) which covers up to £85,000 should the broker go into liquidation.
Are there any additional security features?
- Two-factor authentication (2FA) and biometric authentication provide extra security against hackers and online fraudsters who may attempt to gain illicit access to your trading account. 2FA means that every time you try to log into your brokerage account you will need to enter the verification code that is sent to your smartphone via SMS or email.
- The KYC process ensures that traders are who they say they are. This is an important anti-money laundering and anti-identity theft regulation that all regulated brokers are required to follow.
- Deposits and withdrawals can only be made to and with bank accounts, debit cards and e-wallets with the same name as the account holder.
Are Free Stock Trading Apps 'Free'?
When it comes to downloading and using the free stock trading app on your mobile device there are no associated costs. However, in the same way that you would pay non-trading fees and trading fees on a web trading platform the same applies to trading apps.
- If you wanted to buy and sell stocks and ETFs on the eToro free stock trading app you could do this without having to pay any commission as the social trading platform supports a zero commission offering.
- Spreads – spreads vary depending on the broker, and you are likely to pay the difference between the bid and ask price when there are no trading commissions.
- Non-trading fees also vary depending on your preferred broker. These include inactivity fees, deposit fees, withdrawal fees, and account fees.
Getting Started With the Best Stock Trading App UK: Step-by-Step Guide
Are you interested in trading stocks with 0% commission via the best stock trading app in the UK? In this section of our beginner's guide we'll show you how to get started with eToro, the best free stock trading app in 2021.
Step 1: Download and Install the eToro Trading App
Firstly, head over to the official eToro.com website and download the mobile trading app from the App Store or the Google Play Store depending on whether you have an Apple or Android device.
Step 2: Open Account and Upload ID
Once you have successfully downloaded the eToro trading app, you can open a live trading account in a matter of minutes. The initial account opening process requires some personal information such as your name, address, date of birth, national insurance number, and phone number.
67% of retail investor accounts lose money when trading CFDs with this provider.
As part of the KYC process, you will need to upload proof of identity (in the form of a passport or driving license), and proof of address (such as a utility bill or recent bank statement).
Step 3: Deposit Funds
The next step is to deposit funds into your trading account. eToro accepts a wide range of payment methods including debit/credit cards, bank transfers, and e-payments such as PayPal and Neteller. While there are no deposit fees to worry about, depositing with a debit card or e-wallet is the quickest option as the funds are credited to your account instantly.
Step 4: Start Trading
Once you have sufficient funds in your account, bearing in mind that the minimum initial deposit is £200 for UK-based clients, you will have unfettered access to a large basket of stocks listed on 17 international exchanges such as the NYSE, NASDAQ, and LSE.
You can browse through stocks that are conveniently grouped based on their category such as technology, consumer goods, and healthcare just to name a few. Alternatively, you can search for your preferred stock using the search bar at the top of the screen.
For example, you can search for Amazon stocks as shown in the image above. By clicking on the button marked 'Trade' you can enter the stake amount and choose leverage if you want to trade via CFDs. You can also invest with as little as $50 with fractional share trading which allows you to invest in a portion of the entire stock. Finally, by tapping on the 'Open Trade' button you will complete your investment.
Best Stock Trading App UK – Conclusion
To summarize, free stock trading apps make online trading that much more convenient and effective. Not only can you monitor your portfolio on the go, but you can also set up price alerts that send real-time push notifications that keep you in the loop with regards to unique trading opportunities.
With full access to copy trading tools and commission-free stock trading, the eToro free stock trading app UK is the best option for beginner traders.
eToro – Best Stock Trading App UK for Copy Trading
67% of retail investor accounts lose money when trading CFDs with this provider.
Comments
Post a Comment