Best Stock Trading Apps in the UK in 2023 (compared)

Mobile phones have evolved from a device used to text and call your friends to now being like an extension of your arm that can be used to manage your whole life. More and more people in the UK are investing solely using stock trading apps via their phones.  

But it is important to understand what makes a good stock trading app, as many traditional brokerages may have offered great services via the web but have a crappy mobile app. When it comes to a Stock trading app, features such as security, user experience, portfolio tracking, news, and alerts take precedence.

In this article, we will compare some of the best stock trading apps available to UK investors to help you choose the perfect fit for you.

Stock Trading Apps in the UK Compared

At a high level, we have already outlined some of the best stock trading apps 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 stock trading apps on offer in the UK.

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.

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.

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.

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

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 offer 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.

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.

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

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

You will find commission-free stocks and ETFs trading, fractional shares, copy trading, social investing, and even an automatic investment system. Another very popular feature that Trading 212 offers is its Pies, which allow you to instantly build a diversified portfolio and customise it to your unique financial goals.

New users get one free share worth up to €100 (promo code IITW). On the downside, it shows limitations regarding available products.

Freetrade is a commission-free UK stockbroker. It is an excellent choice for investors looking to build a long-term portfolio of stocks and ETFs with low fees.

They operate under a freemium (free+premium) business model. As you go up the pricing plans, users get extra features, such as ISA and SIPP, 3% interest on cash, and more.

Freetrade’s Basic plan is free, the Standard plan is £5.99 p/m, and the Plus plan is £11.99 p/m.

If you are someone who likes to trade quite a lot on your mobile app, you should be aware that the Fx conversion fees are quite high at 0.99% on the basic account, which can really add up over time. If you upgrade to the Standard or Plus plan, then the Fx conversion fees drop to 0.59% and 0.39%, respectively (still higher than some competitors).

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.

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 £4.99 per month (“Investor service plan”).

If investing your money responsibly is high in your priorities, Interactive Investor is a platform that can help you achieve this goal, as they have over 200 different sustainable investment options.

Lightyear is one of the new kids on the block in the UK and has positioned itself as the low-frills option for investors. Their product offering is quite limited, but they make up for that by offering very low fees and great interest on uninvested cash (4.5% on GBP).

One way brokers can catch you out is with FX conversion fees, which can really add up if you are buying the likes of US stocks. With Lightyear’s multi-currency account, you can save big on these fees.

There are, however, some downsides to Lightyear’s stock trading app, firstly they do not currently have a Stocks and Shares ISA account available for UK investors, which can be a bit of a dealbreaker for many investors. Secondly, you cannot buy fractional shares, making investing more difficult for those with lower budgets.

In Summary

Ultimately, the choice of the best stock trading app for you hinges on factors such as your experience level, what products and features are most important to you, and your overall investment goals.

We are spoiled for choice in the UK, which is a good problem to have, but it can make your final decision very difficult.

If you still are unsure what stock trading app is best for you, make sure to check out our Help Me Choose tool, which can give you a short list of providers that will meet your needs and experience level.

What are the most important features to have in a stock trading app in the UK?

It can be a bit of a minefield when you are trying to pick a stock trading app in the UK; there are so many different options with their own unique features. When it boils down to it, there are some basics that your stock trading app should have.

Here is a list of questions to ask yourself when you are assessing what stock trading app to choose:

• Is it User-Friendly?
• Can you top up your account from your Mobile?
• Portfolio Tracking – Is it easy to clearly track your portfolio’s performance?
• Security – are there two-factor authentication (2FA) or biometric authentication methods available?
• Can you open a demo account?
• Does it offer fractional share investing?
• News and Alerts – keep track of the latest market developments

What trading apps in the UK have two-factor authentication?

Hackers are constantly coming up with more sophisticated methods of stealing your login details and gaining access to your account and other personal data.

If you are using a stock trading app on your phone, then you can be vulnerable if your account is not appropriately secured. It is very easy to lose your phone or device or for it to be stolen. The last thing you will want is to have additional worries that your investments are at risk of being siphoned out of your account.

To protect your account, at a bare minimum, you should set up two-factor authentication. Here is a list of mobile trading apps in the UK that will allow you to add 2FA to your account: