Introduction
Trading activities are on the rise in the UK, with more individuals participating in various markets due to increased accessibility and interest in investment opportunities. However, many traders remain at risk of financial losses due to selecting unsuitable platforms. This guide provides a detailed comparison of the top trading platforms available in the UK, helping you choose one that aligns with your specific needs and goals.
When selecting a platform, prioritize those regulated by the Financial Conduct Authority (FCA) to ensure compliance, user protection, and a secure trading environment. Additionally, consider user opinions and ratings on independent review sites, and always practice with demo accounts to familiarize yourself with tools and strategies without risking real funds.
How We Choose Trading Platforms
Our selection process begins with thorough research to identify a diverse range of trading platforms. We prioritize security, evaluating encryption protocols, secure payment gateways, and regulatory compliance. Each platform undergoes hands-on testing for functionality, user interface, trading tools, and available assets. We also analyze user ratings from Google Play, the App Store, and Trustpilot to ensure unbiased recommendations.
List of the Best Trading Platforms in the UK 2025
- Pepperstone – Best for MetaTrader Users
- eToro – Top Beginner-Friendly Platform
- Axi – Best for Low Spreads
- FP Markets – Best for ETFs
- Spreadex – Top for Spread Betting
- FxPro – Best Support Service
- OANDA Europe LTD – Best with No Minimum Deposit
Note: CFDs are complex instruments with a high risk of losing money rapidly due to leverage. A significant percentage of retail investors lose money when trading CFDs.
Compare The Best Trading Platforms in the UK
We evaluate platforms based on licenses, available assets, trading fees, minimum deposits, software, and payment options. User ratings from trusted sources are incorporated to provide a balanced perspective.
| Platform | Licenses | Minimum Deposit | Support | Software | Payment Methods | Demo Account |
|---|---|---|---|---|---|---|
| Pepperstone | FCA, ASIC, CySEC, others | £0 | 24/7 | MT4, MT5, cTrader, TradingView | Cards, Bank Transfer, E-wallets | Yes |
| eToro | FCA, CySEC, ASIC, others | $100 | 24/5 | Proprietary Platform, Social Trading | Cards, Bank Transfer, PayPal | Yes |
| Axi | FCA, ASIC, CySEC | £5 | 24/7 | MT4 | Cards, PayPal, Bank Transfer | Yes |
| FP Markets | FCA, ASIC, CySEC, others | £100 | 24/7 | MT4, MT5, TradingView, cTrader | Cards, E-wallets, Bank Transfer | Yes |
| Spreadex | FCA, SEBI | £0 | 24/5 | TradingView, Mobile Apps | Cards, Bank Transfer | No |
| FxPro | FCA, CySEC, FSCA | £100 | 24/5 | MT4, MT5, cTrader, WebTrader | Cards, Bank Transfer, E-wallets | Yes |
| OANDA Europe LTD | FCA, CySEC, FSA | £0 | 24/5 | MT4, OANDA Trade | Cards, Bank Transfer | Yes |
Brief Overview of Fees and Assets
Fees
| Platform | Fees | Minimum Deposit | Inactivity Fee |
|---|---|---|---|
| Pepperstone | From 0.0 pips | £0 | None |
| eToro | 2 pips | $100 | $10 monthly |
| Axi | From 0 pips* | £5 | £10 monthly |
| FP Markets | From 0.0 pips | £100 | None |
| Spreadex | From 0.6 pips | £0 | None |
| FxPro | From 0.0 pips | $100 | $15 once + $5 monthly |
| OANDA Europe LTD | From 0.8 pips | £0 | £10 monthly |
*Commission charges apply.
Assets
| Platform | Forex | Stocks | Commodities | ETFs | Options |
|---|---|---|---|---|---|
| Pepperstone | Yes | Yes | Yes | Yes | No |
| eToro | Yes | Yes | Yes | Yes | No |
| Axi | Yes | Yes | Yes | No | No |
| FP Markets | Yes | Yes | Yes | Yes | No |
| Spreadex | Yes | Yes | Yes | Yes | Yes |
| FxPro | Yes | Yes | Yes | Yes | No |
| OANDA Europe LTD | Yes | No | Yes | No | No |
Detailed Platform Reviews
1. Pepperstone – Best for MetaTrader Users
Pepperstone stands out for MetaTrader enthusiasts, offering MT4 and MT5 with advanced resources on desktop and mobile. The platform supports additional tools like WebTrader, cTrader, and TradingView, featuring social and automated trading. Regulated by the FCA and other global authorities, it provides access to forex, stocks, commodities, and ETFs.
2. eToro – Top Beginner-Friendly Platform
eToro offers over 5,000 tradable instruments, including stocks, cryptocurrencies, and commodities. Its user-friendly design, social trading features, and copy trading functionality make it ideal for beginners. However, withdrawal fees and higher trading costs are notable drawbacks.
3. Axi – Best for Low Spreads
Axi provides ultra-low spreads starting from 0.0 pips on Pro and Elite accounts, though commissions apply. It requires a minimum deposit of £5 and is regulated by the FCA. The platform has limited assets but offers copy trading and 24/7 support.
4. FP Markets – Best for ETFs
FP Markets excels with over 290 ETF products and low spreads. It supports 10,000+ assets, including shares and commodities, and offers advanced platforms like MT4, MT5, and Iress. Educational resources and demo accounts are available for all traders.
5. Spreadex – Top for Spread Betting
Spreadex offers tax-free spread betting on 10,000+ securities with no minimum deposit. Spreads start from 0.6 pips, and it integrates with TradingView. However, it lacks a demo account and extensive educational materials.
6. FxPro – Best Support Service
FxPro is renowned for responsive customer support and a user-friendly platform accessible via MT4, MT5, cTrader, and WebTrader. It offers low fees and extensive educational resources but limits assets to CFDs and spread betting.
7. OANDA Europe LTD – Best with No Minimum Deposit
OANDA requires no minimum deposit and is FCA-regulated. It provides a user-friendly interface, advanced tools, and a demo account. However, it charges inactivity fees and offers only CFDs and spread betting.
What Do Other Traders Say?
User feedback highlights strengths and weaknesses:
- Pepperstone: Praised for fast execution, low spreads, and excellent customer service.
- eToro: Appreciated for social features and ease of use, but criticized for high fees.
- Spreadex: Commended for simplicity and market range, though mobile app issues are noted.
- FP Markets: Recognized for reliability and responsive support.
- OANDA: Valued for platform reliability but needs more educational content.
Other Tested Platforms
Additional platforms worth considering:
- DeGiro: Best for everyday investors with no minimum deposit.
- Saxo: Ideal for vast stock trading options.
- XM: Excellent for cryptocurrency trading.
Is Online Trading Legal in the UK?
Online trading is legal in the UK for residents over 18 years old with a verifiable income. Always choose FCA-regulated platforms to ensure legality and protection against fraud.
How to Choose the Right Trading Platform
Consider these factors:
- Regulation: Ensure FCA compliance for security and legality.
- Fees: Evaluate spreads, commissions, and non-trading charges.
- Available Assets: Confirm the platform offers instruments you intend to trade.
- Payment Methods: Check support for preferred deposit and withdrawal options.
- Customer Support: Opt for responsive, available support teams.
- Demo Accounts: Practice risk-free with virtual funds.
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Desktop vs. Mobile Trading
- Desktop Trading: Offers larger screens, better performance, and a dedicated trading environment. Ideal for detailed analysis and multitasking.
- Mobile Trading: Provides flexibility to monitor and execute trades on the go. Best used alongside desktop platforms for comprehensive coverage.
How to Register an Account
- Select a Platform: Choose based on your needs and regulatory compliance.
- Register: Provide personal details, income information, and trading experience.
- Verify Identity: Submit ID and proof of residence as per FCA requirements.
- Deposit Funds: Meet the minimum deposit requirement to activate the account.
- Start Trading: Use demo accounts to practice before live trading.
Investing vs. Trading
- Investing: Long-term focus on asset growth through buying and holding. Relies on fundamental analysis and passive strategies.
- Trading: Short-term focus on profiting from price movements. Involves technical analysis and active management.
Frequently Asked Questions
How do I start investing?
Begin by learning market basics and identifying your investment goals. Choose a regulated broker, practice with a demo account, and start with a live account once comfortable.
How much money is needed for day trading?
You can start with as little as £10, though larger capital increases profit potential. Always trade within your budget.
Is day trading illegal in the UK?
No, day trading is legal with FCA-regulated brokers. Understand the risks and practice strategies demo accounts first.
Can I learn the stock market for free?
Yes, many brokers offer free educational resources and demo accounts for practice.
Which platform is best for beginners?
eToro is highly recommended for its user-friendly interface, social features, and copy trading functionality.
What is the best free trading platform?
While registration is free, trading involves fees. Demo accounts offer risk-free practice but no real profits.
What is the best platform for day trading?
Interactive Brokers is preferred for professional day trading due to advanced tools and flexibility.
Which platform is safest?
All FCA-regulated platforms are safe. Avoid unregulated brokers to prevent fraud.
Conclusion
Selecting the right trading platform is crucial for success in the UK markets. Our recommended platforms offer a range of features to suit different trading styles and experience levels. Combine a reliable platform with effective strategies to maximize your potential.
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How We Test
Our process involves extensive research, hands-on testing, and analysis of user feedback. We evaluate security, functionality, and overall user experience to provide unbiased recommendations.
Related Topics
For further reading, explore our guides on Bitcoin trading platforms, options trading, and investment apps.