Best Investment Apps in the UK 2024

Claire Maumo is our financial writer and leads our editorial team in delivering engaging, informative, and easy-to-understand content. With a background in journalism and finance and a passion for financial education, she ensures our content is well-received by every trader.

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Investing apps have become a necessity for UK investors, allowing them to effectively manage their activities using their smartphones or tablets. Like the desktop platforms, apps allow you to explore stocks, ETFs, investment trusts, and more. The only difference is the flexibility that comes with investing apps. They are portable, and you can keep investing and managing your positions while on the move. 

Keep reading to discover the best investment apps in the UK. We list below what has been thoroughly tested and approved by our experts. Plus, we share more investment insights to prepare you as you plan to kickstart your ventures. 

List of the Best Investment Apps

  • Pepperstone – One of the Cheapest Options
  • IG Markets – Overall Best Investment App in the UK
  • AvaTrade – Beginner-Friendly Investment App in the UK
  • eToro – Top Investment App For UK Stock Traders
  • Saxo – Best Investment App For Professional UK Traders
  • FxPro – Top Forex Investment App in the UK
In This Guide

UK Investment Apps: Comparison Table

At BrokerRaters, we strive to supply the best recommendations to our readers. To achieve this, we conduct extensive market research, involving multiple tests and comparisons on hundreds of trading apps. We consider various elements in this process to ensure we leave no table unturned. These include regulatory status, fees, customer service, demo accounts, and more. 

We also visit Google Play, the App Store, and Trustpilot to analyse user testimonials. This way, we can remain unbiased and focus solely on what makes an investment app excel. Take a look at our table below with some of the features we identified at our best investment apps in the UK. You can compare them to make a suitable choice. 

Best Investment App UKLicenceSupport ServiceSoftwarePaymentDemo AccountMoney Insurance
PepperstoneFCA, ASIC, FSCA, DFSA, CySEC, CMA, SCB, BaFin24/7TradingView, MT4, MT5, cTrader, Pepperstone Trading Platform, Social TradingVisa, Mastercard, Bank transfer, Neteller, Skrill, PayPalYesYes (up to £85,000)
IG MarketsFCA, BaFin, MiFID, CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, CFTC, BMA
24/5
Online platforms, Mobile apps, MT4, ProRealTime, L2 Dealer, US options and futuresCredit/debit cards, Bank wire transfers, Neteller, Skrill, PayPal
Yes
Yes (up to £85,000)
AvaTradeCBI, CySEC, ASIC, BVIFSC, FSA, SAFCSA, ADGM, ISA24/5MT4, MT5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, Capitalise.aiCredit/debit cards, Wire transfer, Paypal, Skrill, NETELLER, WebMoneyYesYes (up to £1,000,000)
eToroASIC, CySEC, FCA, FSAS24/5eToro investing platform, Multi-asset platform, Copy TraderCredit/debit cards, PayPal, Bank transfer, Neteller, Skrill, eToro Money, Online BankingYesYes (up to £250,000)
SaxoFSA, FCA, MAS, SEBI24/5SaxoTraderGO, SaxoTraderPRO, SaxoTraderGOBank Wire Transfer, Debit cardsYesYes (up to £85,000)
FxProFCA, CySEC, FSCA, SCB24/5FxPro Mobile App, MT4, MT5, cTrader, FxPro WebTraderCredit/debit cards, Bank wire transfers, Neteller, Skrill, PayPalYesYes (up to £85,000)

Apps Short Overview

One of the best decisions you can make in online investing is choosing an app you can afford and features your preferred instruments. The last thing you want is to find yourself spending more than you had budgeted for and risking losing it all simply because you do not have a specific asset to focus on. 

We help you identify an affordable investment platform by sharing tables below that show brief overviews of the fee structures and asset offerings of our recommended apps. We understand how lengthy and overwhelming the research process involved can be. Therefore, utilise this section to make informed decisions. 

Fees

Best Investment App UKMinimum Deposit RequirementCommissions/ SpreadsDeposits/ Withdrawal FeesInactivity Fee
Pepperstone£0From 0.0 pipsFree£0
IG Markets£0From 0.6 pointsFreeNone
AvaTrade£100From 0.13%Free£50 quarterly
eToro£100From 0%£5 withdrawal  fee£10 monthly
Saxo£0From £1 on US-listed sharesFreeNone
FxPro£100From 0.0 pipsFree£10 one-off account maintenance fee after 6 months

Assets

Best Investment App UKStocksForexCryptoCommoditiesIndicesETFsOptions
PepperstoneYesYesYesYesYesYesNo
IG MarketsYesYesYesYesYesYesYes
AvaTradeYesYesYesYesYesYesYes
eToroYesYesYesYesYesYesNo
SaxoYesYesYesYesYesYesYes
FxProYesYesYesYesYesNoNo

Our Expert Opinion about Investment Apps UK

There are hundreds of investment apps UK, and to identify the best recommendations, we had to conduct multiple tests and comparisons. The options below met our stringent specifications, and we guarantee you the best experience with them. However, it is crucial to understand their features for a suitable choice. That is why we share our mini-reviews below based on our hands-on experience to help you out. 

1. Pepperstone – One of the Cheapest Options

Investing in the UK requires a reliable app like Pepperstone featuring quality resources for a worthwhile experience. We tested this app, and like that it is easily navigable and has a modern design to add more excitement to users’ activities. We also believe it is among the cheapest, considering it has no minimum deposit requirement. Transactions are also free, and trading attracts low fees, with spreads starting from 0.0 pips. These low trading and non-trading costs make Pepperstone a suitable choice for active, new, and low-budget investors

Pepperstone is a highly rated app. From our analysis, many users are impressed by its support service reliability and customisable features. Sadly, it doesn’t support buying and taking ownership of listed securities. Users only get to trade them as CFDs and spread betting. The good news is that you will enjoy advanced resources on Pepperstone’s MT4, MT5, cTrader, and TradingView third-party platforms. Learning resources are also available in plenty to ensure you effectively boost your skill level. 

Pepperstone

✔24/7 support service
✔User-friendly and navigable platform

trustpilor logo
2,817 User Reviews
google
4,480 User Reviews
apple
1 User Reviews
financeraters logo
Our Rating
Total Rating:
7,298 User Reviews
Pros & Cons
Fees
Trading Assets

Pros

  • Charges low commissions and spreads, starting from 0.0 pips on major currency pairs
  • No minimum deposit requirement for UK clients
  • Quality learning and market analysis tools
  • A user-friendly and customisable app
  • Hosts a Razor and Standard account to choose from depending on your skill level

Cons

  • No buying and taking ownership of the available assets
  • The standard account doesn’t support the TradingView platform

We find Pepperstone broker to be one of the brokers with transparent fee structures. There are no hidden charges, so what you see displayed on its platform is what you will incur. This makes it easier for you to budget without worrying about overspending.

Let’s discover below some of the trading and non-trading charges at Pepperstone.

Trading and Non-Trading Charges Details
Account Opening $0
Management Fee $0
Minimum Deposit Requirement From $0, depending on your jurisdiction
Commission From $0.02 on US-listed shares
Spreads From 0.0 pips on its Razor Account
Deposits and Withdrawals Free
Inactivity None
Overnight Funding Varies based on global market conditions
Copy Trading Free

Note that Pepperstone charges both spreads and commissions. While spreads are charged on all accounts, commissions are only imposed on the Razor Account.

At Pepperstone, we discovered over 1,200 CFD and spread betting assets. The securities are in different classes, including shares, commodities, forex, indices, ETFs, and cryptocurrencies. Unfortunately, some assets like options are missing.

As we previously mentioned, there are two types of trading accounts, namely Razor and Standard, with which you can explore these securities. We also noticed that Pepperstone supports leverage trading on its featured securities. Retail traders will enjoy limits up to 30:1, while professionals are eligible for limits up to 400:1. This allows you to manage larger trades with a small capital, thus maximizing your chances of earning huge profits.

That being said, let’s break down the number of asset offerings at Pepperstone.

Asset Class Number Offered
Forex 97+ currency pairs
Shares 1000+
Indices 23+
Commodities 40+
Cryptocurrencies 30+
ETFs 48+

Disclaimer: Spread betting and CFD trading have the application of leverage attached to them. Therefore, while the activity can magnify your returns, losses are inevitable. To avoid incurring massive losses with CFD trading, understand how it works plus all the risks involved. Plus, only risk funds you are comfortable losing, considering that over 76% of retail traders lose money in this activity.

2. IG Markets – Overall Best Investment App in the UK

After conducting multiple tests, we found IG Markets to excel as the best investment app in the UK. Over the years, we have witnessed this broker experience massive growth. New features have been incorporated, including share dealing, which exposes you to UK and US shares at low commissions. There is also a self-invested personal pension (SIPP) account for retirement savings and an additional 17,000 assets for portfolio diversification. 

Another unique feature we discovered at the IG Markets app is its vast trading platforms for different types of investors. We loved our experience in the apps, namely the MT4, ProRealTime, L-2 Deals, and the Web. The fact that it recently incorporated US-listed options and futures in its portfolio makes it more attractive. 

IG Markets

✔17,000+ financial markets
✔No minimum deposit requirement

trustpilor logo
7,257 User Reviews
google
20,600 User Reviews
apple
2,700 User Reviews
financeraters logo
Our Rating
Total Rating:
30,557 User Reviews
Pros & Cons
Fees
Trading Assets

Pros

  • A highly rated investing app with a fast trade execution speed
  • No minimum deposit requirement for UK clients
  • Lists 17,000+ securities for portfolio diversification
  • Spread betting is also supported, which comes with tax-free returns

Cons

  • High investing fees compared to its peers
  • It has plenty of advanced tools that can confide beginner traders

Both low-budget and high-budget individuals can trade on IG Markets since this broker has no minimum deposit requirement. You can top up your account with whatever is within your budget limitations after signing up with this terrific service provider. Note that IG Markets charges spreads and commissions that vary from one asset to another. For instance, the spreads for currency pairs like AUD/USD and EUR/USD start at 0.6 points. On the other hand, the charges for shares start at 0.08% commission per side. You can also trade spot gold and other commodities, whose spreads start at 0.3 points.

We’ve highlighted some of the fees and charges that our experts discovered while exploring and evaluating IG Markets.

Fees and Charges Details
Account opening charge $0
Spreads and commissions Starting from 0.1 points/ 0.08% commission per side
Overnight funding Yes
Guarantee stop premiums Yes
Direct Market Access Variable commission
Live price data fees Variable monthly fee
Currency conversion fee 0.8%
Account inactivity fee $0

Presently, traders registered with IG Markets have access to 17,000+ financial instruments. There is a high chance that this broker has your favourite products and then some. Building a diversified portfolio should be a dream while trading with IG Markets.

Here’s a sneak peek of the financial assets offered by the IG Markets broker:

  • Indices: IG Markets allows its users to take positions on 80+ indices, including popular markets like Wall Street, FTSE 100, and US 500. Such products give you the opportunity to profit from entire economies and sectors.
  • Forex: Different forex products are available on the IG Markets trading platform, including popular pairs like AUD/USD, EUR/JPY, and USD/CHF. Many of these instruments have competitive spreads. For instance, the EUR/USD, GBP/USD, and USD/JPY spreads are 0.6 points, 0.9 points, and 0.7 points, respectively.
  • Shares: IG Markets gives traders uncapped access to over 13,000 international shares, with competitive commissions starting from 0.08% per side for Australian products. Diverse categories of shares are available on the platform, from Hong Kong SAR and New Zealand to Australia and South Africa.
  • Commodities: Iron, nickel, cobalt, copper, and other commodities are available for trading on the IG Markets platform. After signing up with this broker, the commodities you will get access to belong to different product categories, from energies to precious metals.
  • Cryptocurrencies: IG Markets offers CFDs on 11 popular crypto assets like Bitcoin, Ether, and Cardano. The broker’s users also have access to the Crypto 10 Index and 2 crypto crosses, Bitcoin/Ether USD (£1) and Bitcoin Cash/Bitcoin.
  • Specialist markets: After becoming an IG Markets user, you’ll gain unlimited access to ETFs, options, and interest rates. The broker also allows its clients to earn returns from bonds, sectors, and knock-out trading.

3. AvaTrade – Beginner-Friendly Investment App in the UK

AvaTrade is among users’ most highly rated apps on Google Play, the App Store, and Trustpilot. We tested and installed it on our mobile devices, and like that it is user-friendly with a modern design. Its search function is also amazing, allowing any newbie to easily access the supported features. Moreover, AvaTrade has a low minimum deposit requirement, charges low trading fees, and hosts an excellent selection of learning materials on its Ava Academy platform. 

Avatrade’s app is backed up by a demo account that any beginner can start trading with. Its ability to support social and copy trading on its AvaSocial, DupliTrade, and ZuluTrade platforms is a plus. Newbies can interact with other global traders and mirror potentially profitable positions from the experts. Additional platforms are also available to explore the financial market with. These include the MT4, MT5, AvaOptions, and the WebTrader. 

AvaTrade

✔Regulated by FCA
✔The platform supports algorithmic trading

trustpilor logo
8,869 User Reviews
google
10,200 User Reviews
apple
25 User Reviews
financeraters logo
Our Rating
Total Rating:
19,094 User Reviews
Pros & Cons
Fees
Trading Assets

Pros

  • Quality learning and market analysis tools
  • A highly rated investment app on Google Play, the App Store, and Trustpilot
  • Quick and easy account registration
  • Free deposits and withdrawals

Cons

  • High inactivity and administration fees for accounts that remain dormant for over 3 months
  • Accessing the DupliTrade and ZuluTrade platforms requires high minimum deposits of £2,000 and £200, respectively

Our experts investigated the AvaTrade broker’s fees and charges. We first noticed that the platform has a modest minimum deposit requirement of $100. What’s more, its users pay no additional costs while depositing funds or cashing out. That makes AvaTrade an ideal broker for both cost-conscious and newbie traders who want to test their waters with small capital before going all in.

That said, AvaTrade requires dormant account holders to pay $50 after every 3 consecutive months of inactivity. Moreover, if you let your account remain inactive for over successive months of inactivity, the broker will charge you a $100 administration fee. Not to forget, AvaTrade requires traders who hold positions overnight to cover a premium.

Here’s a breakdown of the fees you should expect to encounter while trading with this service provider:

Fees and Charges Amount
Spreads From 0.9 pips
Administration fee $100
Inactivity fee $50
Overnight premium Yes

The AvaTrade trading platform’s users have access to over 1,250 financial instruments, from forex pairs and indices to commodities, options, ETFs, and more. Below is an overview of some of this service provider’s product offerings:

  • Forex: As an AvaTrade user, you can trade diverse popular currency pairs, like EUR/USD, CAD/JPY, and USD/TRY. You can also boost potential returns with leverage of up to 400:1.
  • Commodities: From crude oil to silver, corn, and platinum, countless commodities are available on the Ava trading platform. They have competitive spreads and juicy leverages for individuals who want to access larger positions with small capital.
  • Cryptocurrencies: With an AvaTrade account, you can trade crypto CFDs like BTC/USD, Ripple, and Bitcoin Gold. These assets have reasonable spreads starting from 0.10% over-market.
  • Stocks: Over 90 stocks are accessible on the AvaTrade platform, including popular products like Groupon, Apple, and Microsoft. You can trade such instruments and enjoy reasonable spreads starting from 0.13%.
  • ETFs: If you want to trade ETFs, AvaTrade has you covered. You’ll find numerous outstanding assets, such as the MSCI EAFE Index Fund, S&P 500 VIX Short-Term Futures ETN-Series B, and Energy Select Sector SPDR.
  • Indices: After opening an AvaTrade account, you’ll get uncapped access to US500, UK100, CHINA A50. The broker also allows index traders to enhance potential returns with up to 100:1.
  • Options: AvaTrade’s AvaOptions trading platform allows users to trade options. It’s also equipped with 13 strategies, including call spread, put spread, and straddle.

4. eToro – Top Investment App For UK Stock Traders

Stock investing at eToro was a breeze for us, and that is why we primarily recommend it to stock investors. Besides the commission-free trades, we like the fact that eToro supports over 5,000 global shares for purchases. Moreover, fractional share investing is available, allowing you to invest in portions of equity stocks that are less than one full share. You can also invest in other assets like crypto, commodities, and more, and diversify your portfolio. Additionally, eToro stands out as an excellent ETF trading platform.

Getting started with the eToro app requires a minimum deposit of £100. While all deposits are free, you will incur a £5 withdrawal charge. Plus, we noticed that other asset trading fees are high compared to its peers. However, this shouldn’t be a determining factor, as eToro is highly rated by users as a reliable and secure app. 

eToro

✔ User-friendly trading platform
✔ Over 6000 trading instruments

Visit site
{etoroCFDrisk}% of retail investor accounts lose money when trading CFDs with this provider.
Read review
trustpilor logo
5 User Reviews
google
142,000 User Reviews
apple
31 User Reviews
financeraters logo
Our Rating
Total Rating:
142,036 User Reviews
Pros & Cons
Fees
Trading Assets

Pros

  • User-friendly investment app
  • Features quality trading tools for all traders
  • Leading copy and social trading platform
  • Lists over 5,000 investment securities to choose from

Cons

  • A £5 withdrawal fee applies
  • No third-party platforms like the MT4/5

eToro has a transparent fee structure that is easy to understand and helps you plan accordingly. From our analysis, we discovered the following trading and non-trading eToro fees.

Trading and Non-Trading Charges Details
Account Opening $0
Management Fee $0
From $50, depending on your jurisdiction 0.6
Commission From 0% on stocks and ETF trading
Spreads From 1 pip on major currency pairs
Deposits and Withdrawals $5 withdrawal
Inactivity $10 monthly
Currency Conversion 1.5% or 3.0%, depending on the currency or payment method
Overnight Funding Varies based on global market conditions
Copy Trading Free

We discovered that eToro allows users to trade and invest in global markets. You can go long or short in a single portfolio. Overall, there are more than 6,000 instruments, which are spread across multiple classes. Investment options are stocks, which allow you to buy and take ownership of global stocks across various sectors. Fractional share purchases are also supported at eToro. This will enable you to fill your portfolio with leading stocks from global exchanges. ETFs are also other investment assets at eToro.

When it comes to CFD trading, this broker offers it with flexible leverage limits for both new and professional traders. From our experience, retail traders get up to 1:30 leverage limit and professionals up to 1:400. With CFD assets, you can go long or short and speculate on both rising and falling asset prices.

That being said, here is the number of tradable assets available at eToro.

Asset Class Number Offered
Forex 55+ currency pairs
Shares 5558+
Indices 21+
Commodities 35+
Cryptocurrencies 100+
ETFs 680+

Note that eToro also supports options trading but is limited to US clients only. You can also explore diverse non-fungible tokens (NFTs) via its Delta platform.

Disclaimer: CFD trading is risky and complex, thus not suitable for all types of traders. This is primarily due to the application of leverage attached, which can give you good profits as well as leave you with massive losses. So far, over 76% lose their money in CFD trading. That is why it is important to conduct extensive research and understand CFD trading risks before you invest your money in it.

5. Saxo – Best Investment App For Professional UK Traders

Saxo is an amazing trading app, thanks to its cutting-edge features and technology. Its SaxoTraderGO app is one of the easiest to use and hosts quality resources that any professional trader will find useful. The app primarily focuses on supplying advanced traders with investment resources on its SaxoTraderPRO and SaxoInvestor platforms. This doesn’t mean that it is not suitable for newbies, as it also hosts a vast selection of learning materials and a demo account. 

Saxo has no minimum deposit requirement, and all transactions are free of charge. On top of that, the app gives you access to over 71,000 instruments, among them being 23,500+ investment stocks. You can start investing at SaxoTraderGO with commissions as low as £1 on US-listed equities. Other investment options we noticed for your portfolio diversification include ETFs, mutual funds, bonds, Crypto ETPs, and more.

Pros & Cons

Pros

  • No minimum deposit requirement
  • Lists over 71,000 investment instruments
  • Opportunity to invest with low commissions as low as £1
  • List advanced market analysis tools

Cons

  • The demo account is only valid for 20 after activation
  • No featured third-party platforms

6. FxPro – Top Forex Investment App in the UK

Various elements make FxPro our top investment app for forex traders. Besides being among the most highly rated by users, the app is user-friendly on Android and iOS mobile devices. We like its search function, as it makes it easier for users to access its features without wasting time. Moreover, FxPro hosts over 70 currency pairs, which you get to trade on any of its featured platforms, including cTrader, MT4, and MT5. Its ability to host multiple trading accounts is also a plus. 

This app is suitable for both new and expert traders. It is user-friendly, customisable, and has a fast trade execution speed. Plus, the FxPro app has a reliable support service and a comprehensive FAQ section to ensure you efficiently manage any challenges. We also like its additional asset classes, including indices, metals, energy, futures, shares, and cryptocurrencies, for portfolio diversification.

FxPro

✔24/7 customer support
✔Thousands of financial instruments

trustpilor logo
508 User Reviews
google
2,550 User Reviews
apple
71 User Reviews
financeraters logo
Our Rating
Total Rating:
3,129 User Reviews
Pros & Cons
Fees
Trading Assets

Pros

  • A user-friendly mobile app for Android and iOS devices
  • Low minimum deposit requirement of £100 for UK clients
  • Hosts quality trading tools on its FxPro web, cTrader, MT4, and MT5 platforms
  • Lists over 70 currency pairs

Cons

  • Offers only CFD trading
  • No EA trading on its FxPro proprietorship platform

Admittedly, FxPro isn’t the cheapest broker today. The company requires first-time users to make a $100 initial deposit to use a standard account, which is reasonable but can’t be termed as the lowest threshold. Also, Raw+ account holders must make an initial deposit of $500 or more. Additionally, anyone interested in the company’s Elite account offering must be ready to meet the $30k minimum deposit mandate. Please review and understand FxPro minimum deposit requirements before registering a live account.

When it comes to spreads and commissions, FxPro has juicy offerings. Everyone who opts for Raw+ or Elite gets the opportunity to enjoy sharp spreads starting from 0 pips. The numbers are higher for Standard Account owners, with the lowest spreads starting from 1.2 pips.

We have some good news for those worried about transaction fees inflating costs. FxPro doesn’t charge additional deposit or withdrawal fees. However, you may have to cover charges inflicted by financial institutions, depending on your preferred funding method.
Here’s an overview of the FxPro broker fees and charges:

Fees and Charges Amount
Minimum deposit $100
Spreads From 0 pips
Transaction fees $0
Currency conversion fee Yes

Over 2,100 assets are available on the FxPro broker platform. They range from forex pairs and energy to indices, metals, and futures. Check if this service provider supports your favorite assets before signing Up. Here’s an overview of the supported product list to help you out:

  • Forex: 70+ tradable pairs are available on the FxPro trading platform, ranging from CAD/JPY and EUR/GBP to GBP/CHF, GBP/CAD, and USD/JPY. Every category, from major to minor and exotic FX pairs, is available here.
  • Shares: With FxPro, you can trade CFDs on global shares like ALCOA CORP, Western Union Co, and Zoetis Inc. You can start trading shares from different regions, including the EU, UK, and the US.
  • Metals: If you want to trade CFDs on precious metals, FxPro is the place to be. Different products like aluminum, lead, and copper are offered here.
  • Futures: FxPro clients have access to CFD futures on agricultural commodities like wheat, energy products like natural gas, and indices. Popular products range from Cocoa U24 and Coffee Z24 to Gas U24.
  • Energy: CFDs on spot energy products like natural gas, Brent oil, and WTI are offered to FxPro users. You can trade these instruments or use them to diversify your portfolio.
  • Indices: After signing up with FxPro, you’ll get access to CFDs on myriad indices, from the Nikkei 225 Index to the Dow Jones Industrial Average and spot indices like the Australia 200 Spot Index and the China H Shares Spot Index.
  • Crypto: FxPro offers you the opportunity to trade CFDs on Bitcoin, Doge, Ether, and many other crypto assets. If you are a cryptocurrency enthusiast and want to profit from cryptos without owning the underlying crypto assets, consider trading cryptocurrency CFDs with this terrific broker.

Investing in the UK

Investing in the UK

Investing in the financial landscape is legal in the UK for as long as you use an FCA-regulated brokerage firm. With this activity, you will explore various instruments using your desktop or mobile device. These include shares, forex, commodities, cryptos, ETFs, and more. However, you must be 18 years and above to invest in the UK. 

Before you start investing using a broker in the UK, understand your needs. For instance, you may be interested in purchasing US-based company shares. This means the broker you select must give you access to the exchanges listing such stocks, whether NYSE or NASDAQ. Plus, it should support derivatives trading like CFDs and indices to accommodate traders who do not want to take ownership of the underlying assets. 

Note that investing in the UK is considered a business venture, and any profits you earn from the activity are subject to tax deductions by HMRC. The amount varies based on the asset you invest in. Therefore, understand the tax rules applicable before kickstarting this venture. And with the financial market being volatile and dynamic, conduct thorough market research and analysis for solid strategies. 

How to Start Investing in the UK?

Now that you know the best investing apps UK, we thought it would be best if you were also familiar with how to kickstart this venture. Note that the financial market hosts various asset classes, including forex, stocks, commodities, cryptos, indices, and more. It is crucial to start by choosing an asset and learning everything about it, including factors influencing its prices. Then, with your trading app, follow the procedures below to set up an account and start investing. 

Step 1: Visit your app’s official site
Step 2: Complete the account registration procedure
Step 3: Participate in account verification
Step 4: Fund your account
Step 5: Open your first investment position

To set up an investing account, go to your app’s provider’s official website. On the homepage, identify the terms of service section and read it accordingly to ensure you are on board with all the broker’s conditions. And to enjoy mobile trading, install your preferred investing app on your Android or iOS device.

Click the register or sign up button to complete the account setup procedure, which usually takes minutes to complete. A form will pop up that you must fill out with your personal details like your name, age, location, email, and more. Setting up a unique username and password is also recommended. For some brokerage firms, you must also participate in a questionnaire to gauge your skill level and get a favourable leverage limit.

Once done with step 2 above, you will be required to verify your details before having your investing account fully activated. This is a standard protocol for most FCA-regulated brokers to ensure the online investing environment is free from imposters and money laundering activities. In most cases, proof of identity and location is required. These include copies of your original ID card and a recent utility bill. Alternatively, you may share copies of your passport or driver’s license and a bank statement.

Verification may take hours to complete, but once you receive an email confirmation, you are free to make a deposit. We hope that at this point you will have understood your broker’s minimum deposit requirement and are comfortable with it. Therefore, transact with a convenient option, whether debit/credit card, e-wallet, or bank transfer.

After your broker confirms your deposit, you will automatically be redirected to its listed instruments. Pick an instrument you are familiar with and select your preferred investment size before opening a position. If you are a beginner, start with the lowest capital possible and apply risk management controls like stop-loss orders. Have a budget and consider diversifying your portfolio across multiple asset classes to reduce the risk of investing in a single security.

How to Choose the Best Investment App UK

As mentioned above, investing with the best app exposes you to excellent opportunities and offers the best experience. If you are new to investing, below are the elements to consider in your research for the best investment app UK. 

Security
Investment Products
Charges
Platform
User Reviews
Support Service

Do not start investing using an app in the UK without confirming the security measures it employs. This is because there are numerous fraudsters in the region, and you must be keen on the service provider you commit to. The best must be licensed and regulated by the Financial Conduct Authority (FCA). Such brokerage firms will secure your funds in segregated accounts and ensure you invest under the best conditions. Plus, they are transparent in offering investing guidance and risk warnings.

Choose an investing app that hosts your preferred securities, such as stocks, forex, commodities, cryptos, and more. It must also support your preferred investing method, such as derivatives trading or buying and owning the underlying asset. If an investing app has multiple offerings, you should consider it. It offers a perfect opportunity to explore other markets and efficiently diversify your investment portfolio.

Confirm the applicable trading and non-trading charges at your best investing app UK. The last thing you want is to exhaust your nest egg simply because you didn’t have a budget and have become addicted to investing. Some of the charges to confirm include commissions, spreads, overnight funding fees, inactivity costs, account maintenance fees, deposit/withdrawal charges, and more. Plus, ensure your app has a favourable minimum deposit requirement.

The investing platform of an app you select must be user-friendly, have a modern design, and be customisable. It is best to stick to an app long-term instead of frequently switching, which may affect your activities. Plus, the best app for investing must host all the necessary tools for skills and strategy development. A demo account and availability for both Android and iOS devices are also a plus.

Visit Google Play, the App Store, and Trustpilot to confirm what other users are saying regarding their experiences with an investing app in the UK. By doing so, you will fully understand an app’s strengths and weaknesses from a user perspective. This will enable you to decide whether it is worth committing to.

Customer service in investment apps can be 24/7 or 24/5. Therefore, choose the one that aligns with your investment schedule. You can also consider the communication channels allowed and try contacting them to see how responsive they are. Having reliable customer service in your corner should be crucial for any long-term investor in the UK.

Investment Risks for UK Traders

Investment Risks for UK Traders

Generally, investing in the UK’s online financial landscape carries risks. Having the best investing app or brokerage firm and understanding these risks will not only offer the best experience but also maximise your potential. Below are some of the risks to note so you can plan for your activities and strategise accordingly. 

  1. Leverage risk

Investing in the UK exposes you to leveraged securities, especially for traders exploring the CFD options. Here, you will manage large positions with a small capital, thus increasing your chances of incurring massive profits. However, like a double-edged sword, leverage trading can work against you, bringing about massive losses. Having an understanding of how it works is crucial. You should also approach it strategically by investing funds you are comfortable losing. 

  1. Cash management risk

The exposure to the financial market 24/7 has its advantages and disadvantages. While you can trade or invest anytime, you must have a cash management plan. Do not let your emotions like greed, fear, or excitement influence your investing decisions. Only open a position when you identify a potentially profitable opportunity. 

  1. Volatility risk

The financial market is highly volatile, and there are frequent short-term price fluctuations. Without proper analysis, the volatility can work against you. This is especially if there are sudden asset price changes. 

  1. Liquidity risk

Illiquid assets exist in the financial landscape, meaning that turning them into cash can be challenging. Investing in such assets can be beneficial, especially if they experience sudden growth. However, liquidating slow-growing options quickly can pose a risk since there will be no market available. 

  1. Market risks

The financial market is influenced by economic, political, and regulatory factors. Any changes to such conditions can create uncertainty in the financial market. As a result, your open position may be affected, leading to losses. 

Pros & Cons of Investing

Thanks to the advancing technology, many UK investors can now venture into the financial space. This is because they see a lot of opportunities in the market that, when used strategically, can bring about good profits. While there are numerous benefits of investing, a few pitfalls have been noted, including:

ProsCons
You get exposure to numerous liquid assets that could bring profits in the long run.Some assets are highly volatile, and frequent price fluctuations can leave you with losses.
Investing in stocks gives you part ownership of a company. As a result, you will be entitled to dividend payments.Market, economic, and political conditions may affect an asset’s value, thus negatively affecting your open position.
You can easily diversify your portfolio, and mitigate the risks of losing money in a single asset.When purchasing assets like commodities or cryptos that require physical ownership, you may incur additional storage charges. 
The volatility in the financial landscape can work in your favour. Sudden price movements may bring about good profits. 
Some investment assets’ value, like commodities, tend to rise when the purchasing power of others falls. You can use them to hedge against an already existing investment and mitigate massive losses. 

Conclusion

Whether you plan to invest in shares, commodities, ETFs, cryptos, bonds, and more, having the best app is crucial. Our recommendations above guarantee a worthwhile on-the-go experience for both new and professional investors. From our analysis, they have adequate investing resources that, when utilised strategically, can benefit you. Plus, the apps support multiple assets, which encourages portfolio diversification. You simply need to figure out a suitable one for you by comparing their features and testing them using their demo accounts. 

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Claire Maumo

Claire Maumo has experience in investment banking, strategic consultancy, and journalism. She has a Bachelor’s degree in Business Management and a Master’s in finance. She has a knack for making complex concepts easy to understand. Her primary focus is on crypto, blockchain, and financial instruments. Follow her for expert insights on trading and investment.

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