The Top 7 Best Investment Platforms in the UK: 2024
Dom Farnell
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An investor and blogger with a focus on financial markets and wealth management. He’s dedicated to helping others make informed investment choices through straightforward and engaging content.
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Last Updated 09/11/2024
Here are the Top 7 Investment UK Platforms...
Quick Answer: The Best Investment Platform is...
The best investment platform in the UK is IG. Known for its user-friendly interface and diverse range of investment options, IG offers stocks, ETFs, and more. Its competitive fees and robust research tools make it a top choice for both beginners and experienced investors.
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eToro
- Copy Trading
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- Regulated & Trusted
- 30 Million+ Users
- Diverse Asset Range
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How Do These Investment Platforms Compare?
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IG | Etoro | Saxo | Trading 212 | Interactive Brokers | Admiral Markets | Interactive Investor | |
Regulator | FCA | FCA | FCA | FCA | FCA | FCA | FCA |
Platform Score | 5/5 | 5/5 | 4/5 | 4.5/5 | 4.5/5 | 4.5/5 | 4/5 |
Variety of Assets | 18,000+ markets, stocks, ETFs, commodities, currencies, bonds, funds | Stocks, cryptocurrencies, CFDs | Forex Stocks (including fractional shares) ETFs Options Futures Bonds Commodities | 12,000+ global stocks & ETFs, commodities, forex | Forex (Spot Currencies), Stocks, ETFs, Options, Futures/FOPs, CFDs, Metals, Bonds, Mutual Funds | Stocks 3000+, ETF's, Forex, Commodities, Indices | 1,000+ ETFs, Stocks (UK & International), Bonds, Ethical Investments |
ISA Available | Yes | Yes (in conjunction with Moneyfarm) | Yes | Yes | Yes | No | Yes |
Min Deposit | £250 | $10 | £0 | £500 | £1 | £100 | £100 |
Trust Pilot Score | 4.1/5 | 4.3/5 | 4.6/5 | 4.6/5 | 3.3/5 | 3.8/5 | 4.7/5 |
Fee Score | 4.5/5 | 4/5 | 4/5 | 4/5 | 4.9/5 | 3.9/5 | 4.2/5 |
Overall Review Score | 4.75/5 | 4.7/5 | 4.5/5 | 4.5/5 | 4.5/5 | 4.2/5 | 4.4/5 |
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. | |||||||
What are the Best Investment Platforms for UK Investors?
IG - Wide Market Range, Best Overall Investment Platform, Rated Highest
Pros & Cons
- Access to 17,000+ global markets providing unmatched variety for experienced traders looking to diversify portfolios.
- Advanced trading tools including sophisticated charting features for in-depth market analysis.
- Highly customisable platform with a mobile-friendly interface for convenient on-the-go trading.
- Wide range of assets from forex to CFDs, ensuring comprehensive coverage for global market access.
- Inactivity fee of £12 per month can add up for infrequent traders or those not actively using the platform.
- The platform can be complex and intimidating for beginners or traders with less experience in the markets.
- Higher fees compared to other platforms especially for less frequent trades, can deter smaller investors.
Why we like it?
IG stands out for experienced traders due to its advanced trading features, including real-time market data, customisable charts, and a wide selection of analytical tools. Its ProRealTime charting software, direct market access, and ability to trade on margin make it a go-to choice for those looking to execute complex strategies across multiple markets.
What are the Fees and Charges?
| Fee Type | Cost |
|---|---|
| Share dealing fee (UK) | £8 per trade, reduced to £3 if 3+ trades per month |
| Platform fee | £96 per year (waived with 3+ trades per quarter) |
| Forex trading | 0.6 pip spread |
| International shares | £10 per trade |
What Accounts are Available?
- Trading Account
- Stocks and Shares ISA
- Self-Invested Personal Pension (SIPP)
- Spread Betting and CFDs
What Tradeable Assets are Available?
- 17,000+ global markets
- 80+ currency pairs for forex trading
- 13,000+ shares and ETFs
- Commodities, including gold, oil, and silver
- Indices, including FTSE 100, Dow Jones, and S&P 500
How Easy is the Platform to Use?
Despite its complex tools, IG’s platform is user-friendly. Both the web and mobile interfaces are well-designed, allowing traders to quickly access market data, place trades, and customise their trading environment. The platform is well-suited for traders who need powerful tools but don’t want a steep learning curve.
Your capital is at risk.
eToro – Best for Beginners & Social Trading
Pros & Cons
- Commission-free stock trading makes it cost-effective for beginner investors with limited capital.
- Innovative social trading feature enables users to copy successful investors’ trades, learning as they go.
- User-friendly interface both on desktop and mobile, perfect for new traders.
- Wide range of assets including stocks, ETFs, commodities, and cryptocurrencies, allowing for diversified portfolios.
- High fees for forex and non-stock assets can make it less cost-effective for more experienced traders.
- The $5 withdrawal fee can add up, especially for investors making regular withdrawals.
- Limited research and educational tools for advanced traders compared to other platforms.
Why we like it?
eToro is perfect for beginners, thanks to its user-friendly platform and unique social trading features. With the option to copy trades from experienced investors, newcomers can learn by observing seasoned traders. It also offers commission-free stock trading, which is ideal for those just starting their investment journey.
What are the Fees and Charges?
| Fee Type | Cost |
|---|---|
| Stock Trading | £0 commission |
| Forex Trading | From 1 pip |
| Withdrawal Fee | $5 per withdrawal |
| Inactivity Fee | $10 per month |
What Accounts are Available?
- Trading Account
- ISA with Moneyfarm partnership
- Copy Trading Account
- Demo Account
What Tradeable Assets are Available?
eToro offers a broad array of assets that cater to various investment styles:
- Stocks & Shares: Users have access to over 4,500 stocks from global exchanges.
- Cryptocurrencies: Including major ones like Bitcoin and Ethereum among others.
- ETFs: More than 500 ETFs covering diverse sectors and geographies.
- Indices: Trade on the world’s leading indices such as NASDAQ, FTSE 100, and more.
- Commodities: Options include gold, oil, silver, and other popular commodities.
How Easy is the Platform to Use?
eToro is designed to be user-friendly, with a clean interface that’s easy to navigate, even for beginners. Its standout feature is social trading, allowing users to follow and copy the trades of experienced investors. The mobile app is intuitive, making trading accessible for everyone.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Interactive Brokers - Best for Global Access, Low-Cost Trading
Pros & Cons
- Global Market Access: Extensive selection of instruments across global markets, including over 150 exchanges.
- Low-Cost Trading: Highly competitive fees and spreads, with no hidden costs.
- Advanced Trading Tools: Comprehensive tools for analysis, risk management, and order execution.
- Customizable Interface: Platforms are highly customizable to meet the needs of individual traders.
- Platform Complexity: The advanced features can be overwhelming for beginners, requiring a learning curve.
- Inactivity Fees: Monthly fees apply if trading volume or balance requirements are not met.
- Limited MetaTrader Integration: No support for MetaTrader platforms, which may be a drawback for some traders.
- High Minimum for Interest Payments: Interest on cash balances is only paid on accounts with a net asset value of $100,000 or more.
Why we like it?
Interactive Brokers is best known for providing access to over 135 markets worldwide, making it ideal for investors looking for global diversification. Its professional-grade tools, such as advanced charting and a suite of risk management options, make it a favourite among serious investors. Low trading fees further enhance its appeal for those trading across various markets.
What are the Fees and Charges?
| Fee Type | Cost |
|---|---|
| Stock Trading | From £0.005 per share |
| Forex Trading | From 0.08 pips |
| Account Maintenance | £0 |
| Inactivity Fee | £0 |
What Accounts are Available?
- Trading Account
- Stocks and Shares ISA
- Self-Invested Personal Pension (SIPP)
- Multi-Currency Accounts
What Tradeable Assets are Available?
- Access to 135+ global markets
- 13,000+ stocks
- 8,000+ mutual funds and ETFs
- Bonds, futures, and options
- Forex and commodities
How Easy is the Platform to Use?
Although Interactive Brokers offers a feature-rich platform, it can be overwhelming for beginners. However, advanced traders will appreciate the extensive tools available for global market access. Its Trader Workstation (TWS) is a powerful tool, offering real-time data and complex order types for detailed market analysis.
The inclusion of Interactive Brokers’ (IBKR) name, logo or weblinks is present pursuant to an advertising
arrangement only. IBKR is not a contributor, reviewer, provider or sponsor of content published on this site, and
is not responsible for the accuracy of any products or services discussed.
Saxo – Best for Professional Investors
Pros & Cons
Pros and Cons
- Access to over 22,000 global assets providing a broad spectrum of trading opportunities.
- Highly sophisticated research tools and technical analysis for professionals seeking detailed market data.
- Customisable trading platforms with multi-screen functionality for advanced traders and professionals.
- Dedicated customer support and expert research, perfect for serious investors needing premium services.
- Higher fees for less frequent traders making it less suitable for those with smaller portfolios.
- £25 quarterly inactivity fee can add up for infrequent traders or passive investors.
- The advanced tools may be overwhelming for new investors or those with less trading experience.
Why we like it?
Saxo Markets is tailored for professional investors seeking advanced trading tools and market research. It provides access to over 22,000 instruments across global markets. With its high-level research and dedicated customer support, Saxo is designed for serious traders looking for premium services and market analysis.
What are the Fees and Charges?
| Fee Type | Cost |
|---|---|
| Stock Trading | From £8 per trade |
| Forex Spreads | From 0.4 pips |
| Inactivity Fee | £25 per quarter |
| Platform Fee | None |
What Accounts are Available?
- Trading Account
- Stocks and Shares ISA
- Self-Invested Personal Pension (SIPP)
- Corporate Accounts
What Tradeable Assets are Available?
- 22,000+ global assets
- 9,000+ stocks and ETFs
- 50+ forex pairs
- Commodities and indices
- Advanced derivatives including options and bonds
How Easy is the Platform to Use?
SaxoTraderGO is highly sophisticated, yet its intuitive design makes it accessible to both intermediate and advanced traders. Its multi-screen interface allows for custom setups, providing quick access to charts, research, and trading functions. SaxoTraderPRO is available for professional users requiring more advanced tools.
Your capital is at risk.
Trading 212 – Sign-Up Bonus, Commission-Free, New Investor Friendly
Pros & Cons
- Commission-free trading on UK and US stocks allows investors to trade without worrying about hidden costs.
- Access to a wide range of assets including stocks, forex, commodities, and cryptocurrencies, offering good variety.
- No inactivity or withdrawal fees makes it more affordable for long-term investors.
- User-friendly interface on both desktop and mobile platforms, perfect for quick trades and beginners.
- Limited research tools compared to other platforms may not satisfy advanced traders seeking detailed analysis.
- Limited access to global markets compared to larger platforms such as IG or Saxo.
- Lower support for more complex assets like bonds and options, making it less attractive for professionals.
Why we like it?
Trading 212 is known for offering commission-free trading, making it one of the most affordable platforms for investors. It also provides access to both UK and US stocks without hidden charges, perfect for beginners or seasoned investors looking to reduce costs. Its simple, clean interface makes trading straightforward.
What are the Fees and Charges?
| Fee Type | Cost |
|---|---|
| Stock Trading | £0 commission |
| Forex Trading | From 0.3 pips |
| Inactivity Fee | None |
| Withdrawal Fee | None |
What Accounts are Available?
- Trading Account
- Stocks and Shares ISA
- Invest Account
- Demo Account
What Tradeable Assets are Available?
- 10,000+ global stocks and ETFs
- 40+ forex pairs
- Commodities (gold, oil, silver)
- Cryptocurrencies (Bitcoin, Ethereum)
- Indices (S&P 500, FTSE 100)
How Easy is the Platform to Use?
Trading 212 offers a simple and easy-to-navigate platform, ideal for beginners. The mobile app is highly rated for its functionality and design, enabling users to trade on the go with ease. Its intuitive interface is also well-suited for quick trades.
Your capital is at risk.
Use code TIC to get a free share worth up to £100
Admiral Markets - Good for Forex and CFD Trading, MT4 Available
Pros & Cons
- Competitive forex spreads starting from 0.5 pips, providing an edge for traders focusing on forex markets.
- Access to over 4,000 CFDs across various asset classes, offering significant trading opportunities.
- MetaTrader integration allows traders to take advantage of advanced charting and automated trading tools.
- Comprehensive educational resources for traders, including webinars and tutorials, making it a great platform for learning.
- £10 per month inactivity fee could be burdensome for traders who don’t frequently use the platform.
- Focused mainly on forex and CFDs with limited access to direct stock investments, which may not suit all traders.
- Advanced tools may be overwhelming for beginners, making it harder for novices to take full advantage of the platform.
Why we like it?
Admiral Markets is highly regarded for its expertise in forex and CFD trading, offering a wide range of currency pairs, indices, and commodities. The platform’s competitive spreads and access to global financial markets make it ideal for traders focused on forex and CFDs. With advanced charting tools and educational resources, Admiral Markets appeals to both intermediate and professional traders.
What are the Fees and Charges?
| Fee Type | Cost |
|---|---|
| Forex Trading | From 0.5 pips |
| CFD Trading | From 0.1% |
| Inactivity Fee | £10 per month |
| Withdrawal Fee | None |
What Accounts are Available?
- Trade.MT5 Account (CFDs)
- Invest.MT5 Account (Stocks and ETFs)
- Forex Account
- Demo Account
What Tradeable Assets are Available?
- 40+ currency pairs for forex
- 4,000+ CFDs on stocks, indices, and ETFs
- 100+ commodities (gold, oil, silver)
- Cryptocurrencies (Bitcoin, Ethereum, Ripple)
- Indices (DAX, NASDAQ, FTSE 100)
How Easy is the Platform to Use?
Admiral Markets offers a robust MetaTrader platform, suitable for both beginners and seasoned professionals. Its customisable layout, combined with powerful charting tools, ensures a smooth trading experience. Mobile and desktop versions are well integrated, ensuring seamless transitions for traders on the go.
Your capital is at risk.
Interactive Investor – Best for Large Portfolios and Flat Fees
Pros & Cons
- Flat-fee structure makes it highly cost-effective for large portfolios, ensuring no hidden costs based on portfolio size.
- Access to 40,000+ global assets including stocks, funds, and investment trusts, allowing for diverse portfolio creation.
- Excellent range of accounts including ISA, SIPP, and trading accounts, making it a one-stop-shop for investors.
- Comprehensive research tools and portfolio analysis features, making it ideal for long-term and serious investors.
- Flat fee can be expensive for small portfolios, particularly for those with less than £50,000 invested.
- No forex or crypto trading options may limit those looking for alternative asset classes beyond traditional investments.
- Limited access to international markets compared to competitors such as Saxo or Interactive Brokers.
Why we like it?
Interactive Investor is known for its flat-fee pricing structure, making it ideal for investors with larger portfolios. Instead of percentage-based fees, Interactive Investor charges a fixed monthly fee, providing cost predictability. With access to a wide range of investment options, including stocks, funds, and ETFs, it’s a popular choice for long-term investors looking to manage sizable portfolios.
What are the Fees and Charges?
| Fee Type | Cost |
|---|---|
| Monthly Fee | £4.99 to £19.99 |
| Stock Trading | £3.99 per trade |
| Forex Trading | Not available |
| Fund Trading | £0 |
What Accounts are Available?
- Trading Account
- Stocks and Shares ISA
- Self-Invested Personal Pension (SIPP)
- Junior ISA
What Tradeable Assets are Available?
- 40,000+ global stocks and ETFs
- 3,000+ funds
- 500+ investment trusts
- Commodities (gold, oil, silver)
- Bonds and gilts
How Easy is the Platform to Use?
Interactive Investor’s platform is straightforward and easy to navigate, with a clean design that allows users to manage portfolios efficiently. It offers customisable tools for portfolio tracking and investment insights, making it well-suited for both new and seasoned investors.
Your capital is at risk.
How to Start Investing Online
Starting your online investment journey has never been more straightforward. First, choose a platform based on factors like fees, asset availability, and ease of use. Once you’ve picked a platform, select an account type that fits your goals—whether it’s an ISA for tax-efficient investing, a GIA for flexibility, or a SIPP for retirement planning. After setting up the account, fund it via bank transfer or debit card, and you can begin exploring your investment options, such as stocks, ETFs, or funds.
Many platforms also provide educational resources and tools that guide you through your first trades, making the process even easier.
Executing Trades: Buying and Selling Investments
Once your account is fully set up and funded, you can begin trading. Most platforms provide user-friendly interfaces where you can search for specific assets like stocks, funds, or ETFs. To execute a trade, select the asset, enter the number of shares or amount you wish to invest, and confirm. Most trades are completed instantly. You can also choose different order types such as market orders (execute immediately at current price) or limit orders (execute only at a specified price).
Utilizing ‘Stop Loss’ and ‘Limit’ Orders for Risk Management
‘Stop loss’ and ‘limit’ orders are essential tools for managing risk and improving trade execution. A stop loss automatically sells your position if the asset’s price falls below a pre-set level, reducing potential losses during market downturns. On the other hand, a limit order ensures that your asset is bought or sold only when it reaches a specified price, giving you control over trade conditions. Both strategies help you manage volatility and protect your investments.
How Do You Open an Account with a Trading Platform?
Opening an online investment account is a straightforward process that only takes a few minutes. After selecting your preferred platform, choose between an ISA, GIA, or SIPP based on your needs. The setup involves filling in basic personal details like your name, address, and National Insurance number. Next, you’ll be asked to verify your identity by uploading documents such as a passport or driving license. Funding the account can be done through a bank transfer, debit card, or sometimes PayPal. Some platforms have minimum deposit requirements, while others allow you to start with as little as £1.
How Do You Open an Account with a Trading Platform?
Investing fees can significantly impact your overall returns, especially if you’re an active trader or have a large portfolio. Here’s a quick breakdown of the most common fees:
| Fee Type | Description | Typical Range |
|---|---|---|
| Trading Fees | Charged per trade when buying or selling stocks | £0 to £10 per trade |
| Platform Fees | Annual fee for using the platform | 0.2% to 1% of portfolio value |
| Currency Conversion Fees | Applies when trading foreign stocks | 0.5% to 1.5% of transaction |
| Inactivity Fees | Charged if you don’t trade for a set period | £0 to £10 per month |
| Withdrawal Fees | Charged for withdrawing funds from the platform | £0 to £5 per withdrawal |
Knowing these fees will help you make more informed decisions when choosing a platform.
FAQs
eToro is highly recommended for beginners due to its user-friendly design and social trading features. It allows new investors to follow and copy trades from experienced traders, making it easier to learn. Additionally, eToro offers commission-free stock trading, perfect for newcomers.
IG is ideal for advanced traders, offering a comprehensive range of technical analysis tools, real-time data, and extensive charting options. It also provides access to a wide variety of global markets, including forex, CFDs, and indices, making it perfect for professional traders.
Yes, all reputable investment platforms operating in the UK, including the ones mentioned in this blog, are regulated by the Financial Conduct Authority (FCA). This regulation ensures they meet strict standards for security and transparency, protecting investors from fraud or malpractice.
Trading 212 offers commission-free trading on stocks and ETFs, making it one of the most cost-effective platforms. Additionally, there are no platform or inactivity fees, making it an excellent choice for investors focused on minimizing trading costs.
Yes, most platforms, including Interactive Investor, IG, and eToro, offer Stocks & Shares ISAs, allowing you to invest up to £20,000 annually without paying tax on capital gains or dividends. Some platforms also offer additional tax-efficient accounts like SIPPs and Junior ISAs.
Top 5 Investment Platforms
1
IG
Your capital is at risk.
2
eToro
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
3
IBKR
The inclusion of Interactive Brokers’ (IBKR) name, logo or weblinks is present pursuant to an advertising
arrangement only. IBKR is not a contributor, reviewer, provider or sponsor of content published on this site, and
is not responsible for the accuracy of any products or services discussed.
4
Saxo
Your capital is at risk.
5
Trading 212
Your capital is at risk.
References:
- BBC Guide to ISAs: https://www.bbc.co.uk/news/business-17366760
- Keeping Your Investment Safe – AJ Bell
- Tax Efficient Wrapper Products – GOV.UK
- Explaining Pound Cost Averaging to Your Clients – FT Advisor
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