Online trading platforms enable investors to trade a variety of assets such as stocks and shares, exchange-traded funds (ETFs), investment trusts, commodities, foreign exchange (forex), contracts for difference (CFDs), options and more. The platforms can be web based or a mobile app and can cater to both beginner and expert traders. They typically charge low fees and offer a number of educational resources and analysis tools to assist with the buying and selling process.
Compare the Best Investment Apps: Features, Fees, and Benefits
When comparing Online trading platforms in the UK, it is important to consider your trading style and needs. You will want to assess your trading goals and decide what type of trading you want to do, how often, whether you are a long-term investor or day trader, and what types of assets you want to trade (stocks, forex, cryptocurrencies, commodities and indices). Then consider the costs associated with each broker. These can include trading commissions, account fees, withdrawal fees, and costs of premium features or tools.
While many UK trading platforms charge a flat fee to place an order, some of them have no commission at all and are therefore very beginner-friendly. eToro is one of these, and they are known for their engaging advertisements that promote their 0% commissions on real stocks and ETFs as well as a large range of cryptos. However, they do have a few fees that are worth considering – for example, there is a custody fee and they also require a valid photo ID and proof of address to comply with anti-money laundering laws.