Best Investment Platforms in the UK in 2023 (compared)

Are you just starting out on your investing journey? When you start investing, one of the hardest decisions is deciding what investing platform is right for you. It can be especially a headache in the UK when there are so many different options to choose from.

It is tough to definitively say that one investing platform in the UK is far superior to the rest. Each platform will have its own unique selling points and potential drawbacks. As well as this, each investor will have differing needs, so what is right for you may not be suitable for someone else.

In this article, we’ll try to make this choice easy. Firstly we will look at the best investment platform in each category, such as low fees, educational resources, Stocks and Shares ISAs, etc.

Then for those who want to go a little deeper, we will provide a comparison table, high-level overviews, the pros and cons for each investment platform, and a couple of frequently asked questions.

Investment Platforms in the UK Compared

At a high level, we have already outlined some of the best investment platforms in the UK for many different features which investors often regard as most important.

If you want to dig a little deeper, check out the comparison table below and a brief review of some of what we regard to be the top investment platforms on offer in the UK.

Established in 2006, eToro is a well-known worldwide fintech startup and the leader in social trading (following other people’s trades), with over 30 million users worldwide. You can also invest in other products through their platform, which is intuitive and simple to use, making it a good choice for beginners. Plus, they have started offering commission-free stock trading in the UK.

Opening an account and depositing is easy; you can even try it out with virtual money. On the downside, spreads can be high for some products. The only currency accepted is USD, so you’ll be charged currency conversion fees upon deposit and withdrawal if you deposit in GBP.

Social trading allows users to observe and learn from experienced traders in real time. New traders can follow the strategies of successful investors, understand their decision-making processes, and gain insights into market trends and trading techniques.

eToro’s social trading feed is super intuitive. You quickly filter your feed and engage with other users on companies and other investment opportunities that interest you most. For more information, check our eToro’s review.

eToro Social Feed

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% 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.

Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Founded in 1978 and publicly listed in NASDAQ (ticker: IBKR), Interactive Brokers is a global online broker which surpassed major financial crises, showing resilience and a rigorous risk management process.

Interactive Brokers offers an advanced investment platform that includes a wide range of products (stocks, options, mutual funds, ETFs, futures, bonds, and currencies) from 150 markets, solid trade execution (IB SmartRouting), and a set of technical and fundamental tools to help you in your investment decisions.

Beginners and intermediate investors have educational tools to explore, but the learning curve will be steep. That’s why we mainly endorse it to more advanced traders. Besides, customer service gives crystal clear answers to your doubts, so there is no need to go back and forth.

On the downside, Interactive Brokers’ fee structure is quite complex, the registration process is lengthy but fully online, and the broker doesn’t offer commission-free trading. However, when considering FX fees, narrower spreads, and the stock loan program, Interactive Brokers’ clients still get significant savings compared to most brokers.

Interactive Brokers also launched IBKR GlobalTrader, a modern mobile trading app to trade Stocks, Options and ETFs, ideal for beginner investors. Some of the features of IBKR GlobalTrader include automatic currency conversions, fractional shares, demo accounts, and more.

Want to know more about Interactive Brokers? Check our Interactive Brokers Review.

Saxo Bank is a Danish bank founded in 1992. It operates in the UK, being a reliable option for advanced traders and beginners and providing safety, fair prices, and useful tools. The Bank has two comprehensive and customisable trading apps: SaxoTraderGO and SaxoTraderPro.

As the name suggests, SaxoTraderGO is a user-friendly, customisable, and award-winning investment platform that can be used by experienced investors and beginners. The app has a mobile and a desktop version. The SaxoTraderPRO, on the other hand, is a desktop-based platform (that works on Windows and MAC) developed for advanced traders due to its level of detail and complexity.

Considering their excellent educational resources, low prices, and impressive range of tradable assets, Saxo deserves a place on our list of the best stock trading apps in Ireland. The only downside we could think of is that, after registering and completing the verification, you will need to fund your account with at least £500 to invest, which can be burdensome for beginners.

Saxo Bank Web and Mobile App

Trading 212 is a fintech company based in London that aims to democratize the entire investment process through a simple web and mobile application.

The company aims to do this by allowing its more than 15 million users to invest in over 10,000 stocks and ETFs, Forex, commodities, CFDs, and cryptocurrencies.

You will find commission-free stocks and ETFs trading, fractional shares, and even an automatic investment system. New users get one free share worth up to €100 (promo code IITW). On the downside, it shows limitations regarding available products.

For a detailed analysis of Trading 212, check our review.

With over 470,000 customers, AJBell is a homegrown UK company that takes a no-nonsense approach to its investment services, offering stocks, ETFs, funds, and pensions. They even have a separate platform called Dodl, suitable for beginners who may find the whole world of investing intimidating.

One of AJ Bell’s key strengths lies in its transparent and competitive fee structure. The company aims to provide cost-effective investment solutions, offering investors access to a range of low-cost options.

AJ Bell places a strong emphasis on customer service and support. Besides, it is regulated by the Financial Conduct Authority (FCA).

Founded in 2002, XTB is a major player in the brokerage industry with extensive worldwide experience, regulated by the Financial Conduct Authority (FCA) – plus other relevant regulatory bodies – and listed on the Warsaw Stock Exchange.

You can invest through xStation 5 and xStation Mobile in different investment products, such as stocks, ETFs, and CFDs on stocks, Forex, indices, commodities, and cryptocurrencies (this product offering may vary slightly from country to country). It offers 0% commission on stocks and ETFs. Also, you get 0% commission on stock and ETF CFDs.

Opening an account and transferring money is a quick and hassle-free process. For beginners, it presents a demo account where you can trade as if it were real money to help you feel the investment platform firsthand, and you get access to educational tools. For intermediate and advanced investors, you will find plenty of technical and fundamental tools to help you better assess your investment decisions.

On the downside, you will face an inactivity fee of £10/month after one year of non-trading, and if you have not deposited in the last 90 days, it charges high commissions on CFDs of cryptocurrencies but low costs for Forex.

Want to know more about XTB? Check our XTB Review.

Interactive Investor has a strong focus on the UK market and can boast that 1 in 4 UK shares are executed on their platform. Another stamp of approval is that over 50% of interactive investor’s customers have been with them for 10 years or more. You can only achieve stats like that if you run a tight ship and interactive investors have a great customer satisfaction rate.

It offers a vast selection of investment options, including trading, SIPP, and ISAs. The Stocks and Shares ISA starts at £9.99 per month (“Investor service plan”).

If you are a complete beginner, Interactive Investor has some of the best resources to help you upskill through their knowledge centre. Interactive Investor also provides 24h customer support on weekdays as well as a very active discussion forum.

Hargreaves Lansdown is one of the biggest UK platforms for individual investors. It serves more than 1.5 million clients with over £120 billion AUMs.

You will find the most relevant financial instruments (Stocks, ETF, funds,…). It’s a bit pricey, but it makes up for it by being one of the most reliable brokers.

It is well-established, secure, and regulated by the FCA. The customer service is market-leading, and their educational resources are superb.

Bestinvest differs from many of the platforms we have discussed today as they actually have physical offices and advisors who you can pick up the phone and talk to, rather than being left to figure it all out on your own. Some services that Besinvest offer that you can avail of are:

• Get free investment coaching from qualified financial planners
• Get a personal investment recommendation with one-off fixed-fee advice packages

This can be quite appealing for beginner investors who need a bit of guidance to get themselves up and running.

Moneyfarm first came into being back in 2011 and now has over 100,000 active investors and £2.6 billion in assets invested on their platform.

Where Moneyfarm differs from some of the competitors we have talked about is that they focus on offering a selection of well-performing actively managed and passive portfolios to which you can regularly contribute. This takes the hassle out of investing if you are not interested in picking stocks or ETFs yourself, which can be an arduous task for many beginners.

In Summary

We realize that your needs can be quite specific when it comes to choosing the right UK investment platform.

Make sure to do your own due diligence (with the aid of our detailed reviews) when selecting your investment platform.

Can I transfer my shares to a UK broker?

If you have just moved to the UK, then you may be in a situation where you have some investments sitting on an investment platform in your home country that you wish to transfer to your new UK investment platform in order to avoid having to sell your investments and create a taxable event.

Below is a list of investment platforms that may accept an “in specie” transfer of your stocks and shares:

Are there any UK investing platforms suitable for non-English speakers?

Learning to invest as a beginner can be very difficult, especially if it is not in your mother tongue. Thankfully, there are many investment platforms in the UK that will allow you to change the language settings.

These platforms include:

• Trading 212
• Interactive Brokers
• eToro
• Saxo Bank

How do I choose the correct investing platform for me?

There are many different considerations that come into play when choosing what is the right investment platform for you. Each individual will have differing needs and these needs may also change over time. We recommend that you follow these steps when making your decision

First and foremost, it is important to establish what your main priorities are when it comes to an investment platform. Here is a list of features that you can rank as most important to least important

• Low fees (including commissions, fx conversions, custody fees)
• Low minimum deposit
• Product choice – do they offer the products you need? (Stocks, ETFs, Bonds, Options, Futures, etc)
• Customer support – will they be there to answer your queries?
• Educational resources
• Is a demo account important to you?
• Can the platform automate your investing?
• Expert advice available?
• Do they have tax-efficient investment accounts such as ISAs?
• Do they offer pension products?
• Social trading
• Interest on uninvested cash