Trading Apps in the UK 2023
Trading apps have become essential tools for all experience levels, both to make money on trades and to develop knowledge. Whether you’re forex, share or stock trading, there are various mobile apps available in the UK market which can assist your strategy and education.
In this review, we take a look at some of the best trading apps and top broker reviews for both beginners and experts, including Trading 212 and eToro. We also cover key features such as demo or simulator apps, as well as security, fees and additional tools.
Top Trading Apps
AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for trading, alongside a comprehensive education center and multilingual customer support.
Demo Account Regulated By MT4 Integration Yes ASIC, CySEC, FSCA, ISA, CBol, FSA, FRSA Yes Min. Deposit Min. Trade Leverage $100 0.01 Lots 1:30 (Retail) 1:400 (Pro)
XTB is one of the largest stock exchange-listed forex and CFD brokers in the world, offering access to over 5800 trading markets on their xStation platform. They boast 700,000 active traders, 20 years experience and authorization from tier-one regulators, including the UK's FCA.
Demo Account Regulated By MT4 Integration Yes FCA, CySEC, IFSC, KNF, DFSA No Min. Deposit Min. Trade Leverage $0 0.01 Lots 1:30
Eightcap have a global presence and are FCA regulated. They boast low trading fees and are the highest rated brand by TradingView users - and users can trade directly from TradingView. New traders can also sign up for a live account in just a few minutes.
Demo Account Regulated By MT4 Integration Yes FCA, ASIC, CySEC, SCB No Min. Deposit Min. Trade Leverage $100 0.01 Lots 1:30
FXCC is a trustworthy broker regulated by the CySEC. The brokerage offers ECN trading accounts, spreads from zero pips and no commissions. The brand offers a free forex VPS alongside other additional features including a MAM account and short-term technical analysis.
Demo Account Regulated By MT4 Integration Yes CySEC Yes Min. Deposit Min. Trade Leverage $0 0.01 Lots 1:500
Spreadex is an FCA-regulated broker that offers spread betting opportunities on an impressive 10,000+ instruments including 60 forex pairs as well as shares, indices, bonds, interest rates, ETFs, commodities and cryptocurrencies. Traders can also speculate on financial markets with CFDs and options, and take positions on sporting events. The brand has been around for over 20 years and won multiple awards.
Demo Account Regulated By MT4 Integration No FCA No Min. Deposit Min. Trade Leverage £0 £0.01 1:30
Pepperstone is a leading online broker with over 400,000 clients in more than 175 countries. The top-rated brokerage offers excellent market access, industry-leading platforms in MT4, MT5, TradingView and cTrader, plus low fees with no hidden charges. Pepperstone is also heavily regulated with a high trust score, holding licenses with reputable bodies, including the FCA, ASIC, DFSA, and CySEC.
Demo Account Regulated By MT4 Integration Yes FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB Yes Min. Deposit Min. Trade Leverage $0 0.01 Lots 1:30 (Retail), 1:500 (Pro)
Interactive Brokers is a leading global brokerage that provides access to a comprehensive offering of stocks as well as forex, futures, metals, bonds and cryptos. The firm has over 40 years experience in the online trading industry and is heavily regulated by SEC, FCA, IIROC, and SFC. Day traders can use the proprietary Trader Workstation and can access powerful tools and data feeds as well as comprehensive educational resources.
Demo Account Regulated By MT4 Integration Yes SEC, FCA, IIROC, SFC No Min. Deposit Min. Trade Leverage $0 $100 1:50
IC Markets is a respected multi-asset broker offering premium trading technology, highly competitive pricing and 24/7 customer support. The broker provides various social trading features for beginners whilst experienced traders can enjoy advanced charting and analysis tools. Over 180,000 clients from more than 200 countries have signed up with the heavily regulated and trustworthy brand.
Demo Account Regulated By MT4 Integration Yes ASIC, CySEC, FSA Yes Min. Deposit Min. Trade Leverage $200 0.01 Lots 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC.
Demo Account Regulated By MT4 Integration Yes ASIC, CySEC, DFSA, FSC, FSCA Yes Min. Deposit Min. Trade Leverage $5 0.01 Lots 1:30
Kwakol Markets is a Nigerian headquartered broker with strong regulatory oversight in Australia and Canada. A great selection of trading assets are available, including synthetic products that simulate realistic market activity. Clients can trade on the MT4, MT5 and cTrader platforms, as well as a copy trading solution whereby a fee is only paid on profitable trades.
Demo Account Regulated By MT4 Integration Yes ASIC, FINTRAC Yes Min. Deposit Min. Trade Leverage £250 0.01 Lots 1:1000
What Are Trading Apps?
Trading apps are multi-featured tools which can be used for both trading and accessing educational content and market news. Most online brokers offer some form of mobile trading, which will often complement the desktop trading platform.
Mobile apps are useful for both pro traders as well as novices and are widely available for download on both Android and iOS smart devices. This means traders can seamlessly switch from desktop trading on their Windows or Mac PC, straight to trading on-the-go with their mobile phones.
Today, there are various types of trading apps catering to different needs, ranging from traditional apps or sites, to social and copy trading software. These will be explained in our detailed comparison and review of top trading apps below.
Trading apps also provide access to a wide range of global markets, including forex, stocks, indices, commodities, binary options and ETFs. You can also buy and sell cryptocurrencies such as Bitcoin (BTC) and Ripple (XRP), though note that retail crypto-derivative trading is now banned at UK-regulated brokers.
What To Look For In Trading Apps
Ease Of Use
In order to trade efficiently, it’s essential that your app is user-friendly and easy to navigate. Quick trading apps with straight-forward processes can also make a huge difference to your trading experience, especially if you’re trading on a daily basis. Note how much space the app will take up on your phone and check customer reviews to see if there are any recurring technical issues.
Whilst most traders will be using their apps to earn money on trades, it’s also important to look for additional features and tools that can enrich your knowledge and experience. This might include news feeds, analysis tools, webinars, trading alerts and educational trading games. Some apps also offer performance analytics, which measure your P&L stats and can be supplemented with other trading journal apps, such as TraderSync.
Most brokers offer a demo account or trading simulator within their iOS and Android app. These are excellent practice tools for both beginners and experienced traders and allow you to browse all the features of the platform. More importantly, zero investment is needed, as they include a virtual sum of money to practice risk-free trading with.
Fees & Costs
Apps are generally available to download for free at most brokers, and some have no or low trading and account fees. Make sure to check for any additional charges or maintenance fees, though, as these can add up. There may also be a minimum deposit requirement to open an account. Note that any brokers offering low or no deposit accounts within their app may be compensating with fees elsewhere.
You also want to make sure that there is a good selection of payment methods available within your trading apps for deposits and withdrawals. There are plenty of brokers nowadays that accept popular methods such as PayPal and Skrill. Most e-payment methods are also widely available for instant deposit.
To get the best trading experience, make sure to choose an app that offers robust customer support, such as a hotline or live chat. Some brokers also offer urgent support after hours on the app, or even a community forum where you can get help round-the-clock from other traders.
Trading apps can create opportunities for scammers who can hack into a trading account which has been opened on a fake application. Some companies might also offer unrealistic trading promotions or free gifts to entice traders. You can usually tell if an app is real or fake by checking for FCA licensing or regulatory information, which should be available to the public. Other security measures such as SSL encryption and login security are also a good sign.
Best Trading Apps For Beginners
With so many apps on the market, choosing the right option for you may take time, especially if you’re a newbie. We’ve put together a list of our top 3 online day trading apps for beginners in the UK below.
A top choice among new traders, eToro is favoured for its easy-to-use app and social trading features. Established in 2007, the broker offers low-cost trading as well as a Trading School and community discussion forums offering round-the-clock support from over 15 million users. The eToro app also automatically credits new accounts with $100,000 in a virtual portfolio.
Capital.com offers both a trading app as well as a supplementary application, Investmate, which is dedicated to providing free investment education. Investmate receives excellent online reviews for providing rich and digestible educational content via videos, webinars and more. Capital.com is also partnered with one of the best trading social networks, TradingView, which allows you to monitor live quotes and share trading ideas.
If you’re looking for apps that give you free investing in stocks, then Trading 212 is an excellent choice. You can also trade CFDs or open an ISA investment account. The app is generally well-reviewed for its ease of use and the quality of customer service. There’s also a community forum, which is a great learning and networking tool for beginners.
Pros of Trading Apps
The main advantages of using trading apps include:
- Accessible and flexible – You can trade whilst on the move and switch between desktop and mobile
- All-in-one experience – Trading apps can be a one stop shop for all your investment needs
- Not just for trading – Some apps provide access to education features without an initial investment
- Practice accounts – Most apps come with demo accounts which are ideal for beginners
- Device-friendly – Available on most iOS and Android devices, including tablets
Cons Of Trading Apps
There are some drawbacks to consider:
- Limited functionality – Mobility can be limited when doing technical analysis, compared to desktop software
- Limited features – Some apps don’t offer as many features as the desktop counterparts
- External factors – The performance of the app is reliant on the quality of your phone or network connection
- Scams – May attract scammers and hackers
Reviews Of The Best Apps
To help with your decision, we’ve put together a brief list of some of our top trading apps from 2023. All apps are available in the UK and for download onto iOS and Android devices.
With over 250 assets on offer, the AvaTradeGO app is popular among traders for its crisp design. The app performs as a one stop shop for traders who want to trade, earn and learn in one place. If you like to trade with MetaTrader 4, the broker also uses the award-winning software as it’s primary trading platform.
You can also switch easily between demo and live accounts and access a vibrant trader’s community. And in reality, the 24/5 multilingual customer support via live chat ensures you are never far from help.
Multi-award winning broker, IG, offers thousands of instruments for spread bettors, CFD traders and share dealers. The powerful trading apps offer comprehensive charting features and research tools with everything you need in one place.
Traders can access a Reuters newsfeed to stay on top of financial events, as well as an economic calendar. You can also trade with extended hours on some indices and set trading alerts so you can respond immediately to opportunities.
IG also offers a supplementary training app, IG Academy, which is ideal for beginners who want to learn how to trade the markets and test their knowledge.
The Oanda app receives positive reviews for its attractive interface and intuitive features. Whilst it’s not as functional as the desktop version, the app presents good opportunities to easily place and monitor trades whilst on-the-go.
Market events are presented by leading providers, Dow Jones, 4CAST and OANDA MarketPulse. You can also access AutoChartist trading analysis, price signals and performance stats within the app. With no minimum deposit requirement, Oanda is also popular among beginners.
Ideal for investors, the Degiro app provides access to over 50 exchanges in over 30 countries. As such, the app has won multiple awards in the UK and Europe for its excellent trading opportunities and user-friendly experience.
The main downside is the lack of educational features for beginners. The app is also better suited to medium-term or long term investors, rather than day traders.
Available in over 20 languages, the Pepperstone app is ideal for anyone looking for top-notch analysis tools with the cTrader software. The app features an economic calendar and a market sentiment indicator, with over 60 technical indicators and multiple chart types.
With that said, whilst the Pepperstone app is great for trading, it does fall lower down in the ranking in terms of social features, or education and research tools.
Awarded for best mobile/trading app in the Shares Awards 2019, CMC Markets combines tight spreads and no hidden fees, with access to thousands of financial markets. The intuitive trading experience includes comprehensive charting features, risk management tools and client sentiment indicators.
Traders can also access market-leading news and insights, with free Morningstar and Reuters financial research. Overall, the app receives good feedback online, but a few clients have mentioned app crashes.
FXTM offers over 250 trading opportunities on an easy-to-read user dashboard and competitive spreads. For beginners, there’s also a free demo account which can be set up with just one click after registration. You can also take part in the $50 ‘refer and earn’ loyalty program.
Along with decent charting capabilities, the app’s best asset is the market-leading educational resources, which include regular webinars and seminars. There’s also a comprehensive news and analysis feed.
Plus500 has a strong reputation for CFD trading in the UK, with its innovative and user-friendly mobile app. The app supports trading on a good selection of assets, as well as exciting Sector Indices, including the Real Estate Giants Index and the Cannabis Stock Index.
Alongside price alerts, the app also offers Traders’ Sentiments alerts which monitor how other people trade in real-time. There’s also no commission, 24/7 customer support and free email, and advanced risk management tools, including stops and limits.
With options to trade long-term on stocks or short-term on CFDs, there’s something for everyone at Trading 212. With an average rating of 4.7 stars on the App Store and over 100,000 reviews, it’s easy to see why it’s the UK’s #1 trading app. It’s also one of the few apps in the UK that offer free investing in stocks and is widely considered as the most similar alternative to the US’s Robinhood platform.
Along with smooth and easy-to-navigate charts, the app boasts excellent learning tools including tutorial videos and a demo account. Once you download the app, you can easily switch to the Windows or Mac PC desktop version. You can check out our detailed broker review for more information.
The eToro app has been crowned as one of the best platforms for stock trading in the UK. Users can trade with no commission and enjoy a $100,000 demo account. If you’re looking for apps that trade for you, you can also enjoy eToro’s CopyTrader, and get easy access to the collaborative trader community.
Despite strong reviews around the user-friendly interface and unique features, there is some negative feedback around app speed, bugs, and customer service.
iOS Vs Android Apps
Whether you’re an iPhone or Android user, your experience using any of the apps above should be relatively similar. Most companies have developed their apps to provide the same set of features and functionality across devices.
With that said, some differences can be found between the two versions with regard to design, speed and, occasionally, technical features. For example, whilst Trading 212 ranks well on the Play Store as well as the App Store, many of the negative reviews from Android users suggest speed and bug issues.
On the other hand, apps like eToro, Pepperstone and Plus500 are all better-reviewed on Android than on iPhone devices. It’s worth checking out online reviews prior to choosing your app, in case you do find discrepancies that might affect your experience.
Security should be a key consideration when choosing a trading app, especially with scams and hackers operating in the market.
Traders should check whether the app is legit, established and regulated before committing. In the UK, regulated brokers are not permitted to offer certain incentives such as ‘no deposit bonus’ schemes.
Traders should also be cautious around trading apps offered for under 18’s, apps that give you free money or a bonus to start, or apps with high retail leverage above 1:30, as these are likely to be unregulated.
Make sure the company is also transparent with any security features used, such as SSL encryption or face ID, which should be available both on iOS and Android phones.
Final Word On Trading Apps
Now that you’re familiar with the top names of trading apps for iPhone and Android devices, you might have a better idea of the types of applications that will best suit your needs. Many apps today help you to earn money on trades and also provide essential learning tools for beginners and experts alike.
Whether you’re looking for apps without deposit requirements or brokerage fees, or apps that use PayPal withdrawals, make sure the app is regulated and secure.
What Are The Best Trading Apps For UK Clients?
Our best apps for UK traders haven been reviewed based on overall user experience. These include eToro, Trading212 and AvaTradeGO. You can check out our broker reviews for more information around the features and trader security provided.
What Is The Best Trading App For Beginners?
The best overall trading apps for beginners are the likes of eToro and Capital.com. eToro offers zero commission on stocks, an easy-to-use interface and an excellent community discussion forum. Capital.com and its supplementary Investmate app provide everything you need to start trading, with a vast array of educational content and guides. Both apps offer risk-free demo accounts.
Are Trading Apps Legit?
Trading apps are generally legit and safe, however some virtual investing applications naturally attract scammers, who target both iOS and Android users. Make sure to check the app is regulated and transparent with fees and security features.
What Is The Best Free Trading App?
Most trading apps today are free to download, including those mentioned above. Note that some apps require a minimum deposit in order to register and start trading, though these are usually reasonable. For example, Trading 212 offers trading with a low investment requirement of only 1 USD, GBP or EUR for an Invest account.
Trading Apps: Do They Work On Mac Devices?
Many trading apps support cross-platform functionality for both Windows and Mac PC devices, including AvaTrade, Plus500 and eToro. It’s worth checking with the broker if there are any limitations for Mac computers.
Can I Trade Cryptocurrencies With Trading Apps?
Many trading apps cater for cryptocurrency trading and some are dedicated solely to the crypto market, such as Binance. However, as of 6th January 2021, the sale and distribution of retail crypto-derivatives are banned in the UK, as per FCA regulations. Note that you can still buy and sell coins at crypto-exchanges.