Top Trading Apps in the UK for 2024: A Comprehensive Guide

The UK has witnessed a surge in trading activity in recent years, driven by retail traders seeking to capitalize on market volatility and new investment opportunities. Whether you're into stocks, cryptocurrencies, commodities, or forex, the trading landscape has never been more accessible. With mobile apps, trading is now at your fingertips, and for UK residents, the options are plentiful. But the question remains: Which trading app suits your needs the best in 2024?

This guide will take you through the top trading apps available in the UK, their pros and cons, and the unique features that distinguish them. Whether you're an experienced trader or just starting out, this article will help you make an informed decision.

1. eToro: The All-Rounder

eToro stands out as one of the best trading apps in the UK for several reasons. Social trading is its hallmark, allowing users to follow and copy trades from experienced investors. You can access a wide range of assets, including stocks, ETFs, cryptocurrencies, and forex, all from one platform. eToro is particularly known for being user-friendly, especially for beginners.

Key Features:

• Social trading: Follow and copy top traders' portfolios.
• Low fees: No commission on stocks, and competitive spreads on other assets.
• Demo account: Practice trading without risking real money.
• Regulated: FCA-approved, which adds a layer of trust and security for UK traders.

Pros:

• Excellent for beginners.
• Access to multiple asset classes.
• Social trading feature is a game changer.

Cons:

• Limited charting tools for advanced traders.
• Withdrawal fees apply.

eToro’s approach, especially with social trading, makes it the perfect app for traders who are interested in learning from others and leveraging collective market knowledge.

2. Plus500: For Advanced Traders

While eToro may cater to beginners, Plus500 is designed for more experienced traders who need more sophisticated tools. It's well-known for its CFD trading offerings across a broad range of markets, from stocks to forex and cryptocurrencies. One of the standout features is its highly customizable interface, which can be tailored to fit individual trading styles.

Key Features:

• CFD trading: Access to over 2,000 financial instruments.
• Leverage: High leverage options for experienced traders.
• Real-time alerts: Stay updated with instant price alerts.
• No commissions: Plus500 generates revenue from spreads alone, making it attractive for high-frequency traders.

Pros:

• User-friendly, with a clean and responsive interface.
• Wide range of CFD assets.
• Customizable alerts and notifications.

Cons:

• Not suitable for beginners due to leverage risks.
• Limited educational resources compared to competitors.

Plus500 offers high leverage options, which means traders can control larger positions with a relatively small investment. This makes it a favorite among experienced traders who are comfortable with risk.

3. IG: For Serious Investors

If you're a UK resident looking for a trading app that has decades of experience, then IG should be on your radar. Established in 1974, IG is one of the most reputable brokers worldwide. Known for its comprehensive educational tools and detailed market research, it's ideal for traders who want to dive deep into market trends.

Key Features:

• Extensive asset coverage: Trade over 17,000 markets, including shares, indices, forex, and cryptocurrencies.
• Educational resources: From webinars to in-depth articles, IG provides plenty of learning material.
• Advanced charting tools: Perfect for technical traders.
• Spread betting: UK traders can benefit from tax-free profits through spread betting.

Pros:

• Robust educational resources.
• Access to a wide range of assets.
• FCA-regulated and highly trusted.

Cons:

• Higher fees for non-active traders.
• Complex platform for beginners.

IG’s long-standing presence in the trading world makes it a go-to platform for serious traders who require a full suite of tools and resources. The platform's spread betting feature is particularly attractive for UK traders looking to optimize tax efficiency.

4. Revolut: The Newcomer

Revolut may be better known as a digital banking app, but its trading capabilities have rapidly expanded. It's an excellent choice for individuals who want to keep all their financial activities in one place—whether that's trading, budgeting, or foreign exchange transactions. Revolut allows users to trade stocks, cryptocurrencies, and even commodities with minimal fees.

Key Features:

• Fee-free stock trading: Trade stocks without incurring fees up to a certain limit.
• Crypto trading: Access to popular cryptocurrencies like Bitcoin, Ethereum, and more.
• Budgeting tools: Manage your everyday finances alongside your investments.
• Fractional shares: Buy fractions of high-priced stocks, making it accessible to all traders.

Pros:

• Integrated with daily banking.
• Simple interface for beginners.
• Low fees on trades.

Cons:

• Limited market research and educational tools.
• Not suited for advanced traders.

Revolut’s ability to combine everyday banking and trading in one app makes it a favorite for people who want to dip their toes into investing without committing to a dedicated trading platform. However, it lacks the in-depth features that advanced traders may require.

5. Freetrade: Simplifying Stock Trading

As its name suggests, Freetrade is one of the best apps for UK residents who want to buy and sell stocks without paying commissions. This app is perfect for beginner investors who are mainly focused on stock trading and want a no-frills platform.

Key Features:

• Commission-free stock trading: Buy and sell stocks without any fees.
• ISA accounts: Tax-efficient savings and investments.
• Fractional shares: Invest in expensive stocks by purchasing fractions.
• Simple interface: User-friendly and ideal for beginners.

Pros:

• Commission-free trading on a wide range of UK and US stocks.
• No hidden fees.
• User-friendly interface for beginner traders.

Cons:

• Limited to stocks and ETFs.
• No access to more complex assets like CFDs or forex.

Freetrade has simplified the stock trading experience, allowing users to focus solely on buying and selling shares without worrying about high fees. It’s an excellent option for those looking for a simple, straightforward trading platform.

6. Trading 212: Best for Both Beginners and Advanced Users

Trading 212 is a versatile platform that appeals to both novice and seasoned traders. It offers commission-free stock trading, as well as access to more complex instruments like CFDs and forex. Trading 212 has a strong reputation for being easy to use while still offering enough tools for more advanced traders.

Key Features:

• Zero commission: Enjoy fee-free stock trading and fractional shares.
• Wide range of assets: From stocks to forex and commodities.
• Educational resources: Learn as you trade with extensive tutorials and guides.
• CFD trading: Ideal for those who want to trade with leverage.

Pros:

• Commission-free stock trading.
• Suitable for both beginners and advanced users.
• Strong educational materials.

Cons:

• Limited to European markets.
• Charges overnight fees for CFD trades.

Trading 212 is particularly notable for its flexibility. Whether you're a complete beginner or an experienced trader, you’ll find something that fits your trading style.

Conclusion: Which App Should You Choose?

The best trading app for you in the UK ultimately depends on your experience level and investment goals. If you're a beginner, eToro or Freetrade may be ideal due to their user-friendly interfaces and educational resources. For more advanced traders, Plus500 and IG provide a wealth of tools, assets, and resources.

However, Revolut and Trading 212 offer excellent middle-ground options that cater to both beginners and more seasoned traders. The commission-free trading across many platforms is a major selling point, but you should also consider what assets you wish to trade, the tools you need, and whether the app offers additional features such as social trading or spread betting.

Choosing the right app could significantly influence your trading success and long-term returns, so weigh your options carefully. Whether you're trading on the go or making strategic long-term investments, the UK has some of the most sophisticated and user-friendly apps available.