What is a trading platform?

A trading platform, also called an investment platform or broker, is where you buy and sell investments such as shares, funds and bonds. You may also be able to trade alternative assets such as currencies, oil, gold and crypto. Beginners may want to consider sticking to traditional investments — shares, funds and bonds — to begin with, as alternative assets can be more volatile.

How do I choose a UK trading platform?

You’ll want to consider factors including fees, whether they offer an ISA or SIPP, and the investment options available. There is nothing to stop you opening separate accounts with different platforms, if you like aspects of different brokers and want to try out several. Some platforms offer commission-free trading but may have more limited investment options or accounts. And you can read our reviews of top U.K. brokers for further details to help you decide which suits you best.

How do I open a UK trading account?

Choose your platform and select the ‘open account’ option. Most platforms will allow you to sign up and fund your account within minutes. You’ll need to provide ID such as a photo of your driving licence or passport, along with providing your National Insurance number and proof of address. You can then pay money into your account through a bank transfer or using your debit card.

How do I buy shares online in the UK?

To buy shares online, follow these steps. Select a U.K. broker , then open and fund the account. Research the stocks you want to buy using the trading tools and market research provided. Once you choose a stock to buy, fill out the order ticket with the number of shares you want to purchase. Place your trade. You now own shares of stock! For more educational resources before you start trading, we recommend reading investor.com's 10 great ways to learn stock trading .

How does regular investing work?

Regular investing is where you invest a fixed amount on a monthly basis, to be paid directly into your investment or investments of choice. You benefit from saving little and often, which feels more achievable for some, and you can benefit from pound cost averaging to help smooth out fluctuations in the stock market. Most U.K. investment platforms offer discounted fees — or charge nothing at all — for regular investing.

Are online trading platforms safe?

All the U.K. trading platforms we review are regulated by the Financial Conduct Authority, which means they comply with stringent regulatory requirements. Your money is protected up to the value of £85,000 should a platform go out of business. However, be aware that all investing comes with an element of risk and your returns will depend on your own investment decisions.

What is the best crypto trading platform for beginners in the UK?

If you are just becoming familiar with investing, we recommend starting out with traditional investing in instruments such as stocks and funds. Cryptocurrency is a complex product, and, moreover, the cryptocurrency market tends toward the volatile, carrying a high risk of loss. If you do want to try your hand at trading crypto, use a regulated broker. eToro is one of our top recommendations; other reputable brokers that offer crypto in the U.K. include Saxo , Interactive Brokers and XTB .

An Individual Savings Account is a means of tax-free saving and investing. For the current tax year, an individual can save up to a maximum of £20,000, which can be held in a stocks and shares ISA, a cash ISA, a Junior ISA , an innovative finance ISA, a Lifetime ISA , or in a "Mix and Match" combination of these.

A Self-Invested Personal Pension, or SIPP, is a tax-efficient means of saving funds for retirement in the U.K. SIPPs are government approved, and enable individuals to make their own investment decisions. Unlike more traditional pension models where investment choice is often restricted to a limited number of funds, a SIPP offers investors the ability to self-direct their investments.

Best UK Trading Platforms for Beginners of 2024

Written by Elizabeth Anderson
Fact-checked by Steven Hatzakis
Edited by Carolyn Kimball

March 10, 2024

The UK.StockBrokers.com Annual Review is the result of 10 weeks of hands-on testing and analysis of U.K. investing platforms. It produced thousands of words of research and hundreds of data points. Here's how we tested. Our editorial content is independent and unbiased; here’s how we make money.

As a beginner investor, you may be overwhelmed by the choice of platforms and investments out there. There are around 20 investment platforms in the U.K. and several thousand investment choices spanning stocks and shares, exchange-traded funds (ETFs), mutual funds and investment trusts.

The first step is to think about the type of investment you want to hold. Many beginner and hands-off investors choose funds that invest in a wide range of companies from different countries and sectors to increase diversification. Or you may want to invest in individual companies through share trading, selecting firms you think have good growth prospects.

When considering which platform to use to buy your chosen investment, one important consideration should be fees. Investing costs money, and each platform will have different charges. These include transaction charges and annual management fees to hold your money and investments.

Each platform will also offer varying levels of educational and research material, along with different mobile app functions.

To make it easier for you to select a platform, we’ve selected our top picks below. We compared 17 U.K. investment platforms over a 10-week period of firsthand testing and research, using 53 individual variables such as fees, charting tools and access to real-time data to make our final selection.

people Why listen to UK.StockBrokers.com?

Our team has been studying the U.K. and international markets since 2016 and comprises several decades' worth of experience in investment, industry analysis and journalism. Blain Reinkensmeyer, Elizabeth Anderson and Steven Hatzakis have personally conducted thousands of transactions throughout their respective careers, including the trading of shares, options, futures, cryptocurrencies and foreign exchange, and have fully tested each of the brokers' features first-hand on a variety of devices. Find out more about us and the way we examine brokerages.