Best Social Trading Platforms in the UK
There are many platforms available if you want to start trading online and join the millions of UK investors. Be sure to take user-friendliness, security, costs, and supported markets into account when choosing the best trading platform for your requirements. For you to invest and trade with minimal fees and the highest level of account security, we’ve listed the top 7 trading platforms in the UK in this article.
What Are Social Trading Platforms?
Social trading platforms are a type of financial technology that allows investors to copy the investment portfolios of other successful investors. These platforms have grown in popularity in recent years, as they offer a more efficient way to trade and invest in the stock market. Social trading platforms typically offer a variety of features, such as advanced charting tools, real-time newsfeeds, and social media integration. While some social trading platforms charge fees for their services, many are free to use. Social trading platforms can be an excellent way for novice investors to learn from more experienced traders, and they can also provide experienced traders with new opportunities to generate profits.
Top-Rated Social Trading Platform in the United Kingdom
For beginners who want to trade in the financial markets in a simple way, the eToro trading platform is perfect. You can create a verified account in 5 minutes and instantly deposit money using a regular debit or credit card. Additionally, it also accepts Paypal, e-wallets, and bank transfers.
At eToro, traders from the US and the UK need to invest a minimum of $10, or around £7, to purchase shares and other tradable items. When it comes to supported markets, eToro provides users with access to millions of shares from the UK and other markets. In addition, there are zero commissions on the purchase and sale of all stocks and ETFs.
Features of eToro include
- Exchange of US dollars
- Trading scenarios on graphs
- Trader matches are made based on your requirements and trading preferences.
- Public news feed with notifications and active trading discussions
- Excellent education in trading
It has no public information about its financial details or a banking license and is not listed. But, the Financial Conduct Authority oversees its regulation (FCA).
On its platform, Libertex provides a wide variety of financial instruments. Libertex offers 0% commission on conventional stock investments for anyone interested in doing so. Libertex can also be used as an alternative to trade leveraged CFDs. Moreover, you can increase your purchasing power and have access to a far broader pool of assets due to this industry.
Features of Libertex include
- Tight spreads
- User-friendly interface
- Works on every type of device such as mobile, laptop, or computer.
- Over 250 CFDs on all the major trading assets, such as cryptocurrency, metals, oil, gas, equities, etc.
Plus500 is a user-friendly platform that focuses on CFD trading. No minimum deposit is required, and trading costs are reasonable, although there are significant inactivity fees.
Please keep in mind that only seasoned investors should use the Plus500 platform. Although Plus500 is a highly user-friendly site, CFDs are complicated financial instruments; thus, beginner or unskilled traders should avoid using them.
The two-step login process on the online platform makes it easy to use. The mobile platform is secure and user-friendly, and it provides superb search capabilities, but no desktop version of the plus500 is available.
Features of Plus500 include
- Available in many languages such as English, German, Chinese, Russian, french, dutch, and many more
- Regulated by the FCA in the UK, ISA in Israel, ASIC in Australia, and MAS in Singapore.
- Money can be deposited and withdrawn by PayPal, Wire Transfer, Skrill, Moneybookers, and Credit Card.
Since its establishment in 2008 as a transparent forex brokerage, Vantage Markets has expanded to provide 290 CFDs and 44 FX pairs (including indices, shares, cryptocurrency, and commodities).
Due to ASIC and the FCA’s oversight, Vantage Markets is regarded as a reliable and secure online broker. Vantage Markets is regarded as a respectable, trustworthy broker that provides public and copies trading without having unnecessarily high commissions or non-trading fees.
Vantage Markets provides access to the markets via the well-liked MT4 and MT5 programs, as well as a mobile app that is packed with features.
Vantage Markets provides support for the MetaQuotes WebTrader platform, which enables quick and easy connectivity to MetaTrader 4 & 5 trading accounts for both desktop and laptop devices as well as via mobile devices.
Features of Vantage Markets include
- Requires a minimum deposit of $200
- CFDs like cryptocurrency, commodities, stocks, etc.
- Regulated by ASIC
- Demo account available
One of the top trading platforms in the UK for asset variety and affordable costs are capital.com. With regard to the first, this highly regarded platform provides more than 6,000 tradeable markets. This covers everything from FX, indexes, and both UK-based and foreign equities to ETFs, gold, and energy. As long as you stay within UK limits, you can use leverage on the market you choose when trading CFDs. In addition, Capital.com offers commission-free trading across all marketplaces. With the help of capital.com, you can place a purchase or sell order to enter your preferred market.
If you expect the asset to appreciate, you would need the former, and if you assume the contrary, you would need the latter. When you use an e-wallet or debit/credit card, Capital.com only demands a minimum first-time investment of £20; however, bank transfers necessitate a minimal deposit of £250.
Features of Capital.com include
- Requires a minimum deposit of $20.
- Regulated by the FCA in the UK, ASIC in Australia, and FSA.
- Accepts users from more than 183 countries.
A top-rated trading platform, Skilling, allows you access to more than 800 well-known financial marketplaces. This comprises a vast selection of equities, ETFs, FX pairings, precious metals, energy, indices, and much more. The user-friendly interface of this fully licensed and regulated stock trading system will cater to those who have little or no investment expertise.
When it comes to commissions, some marketplaces at Skilling can be traded for as little as 0.1 pip. Additionally, there are no commission fees associated with trading stock CFDs. Skilling is a beginner-friendly platform that enables fractional shares, allowing you to trade a small amount of a single asset.
Features of Skilling include
- More than 900 instruments to aid in trading with CFDs.
- Demo account available
- Provides 10,000 virtual USD/ EUR/GBP for training
For experienced investors, AvaTrade may be the greatest online trading platform in the UK. Millions of people from all around the world use this incredibly popular platform, which allows you to trade thousands of CFD instruments with no commission.
AvaTrade is a CFD-registered broker with more than a thousand financial instruments and a variety of trading platforms, and it has been in service since 2006. The company provides a complimentary 21-day trial account with $100,000 as well as a 20% welcome offer up to $10,000, as required by law.
For tradable assets, you have access to CFDs on a variety of markets, including FX, equities, indices, metals, energy, and much more. According to FCA guidelines, you must be a professional user to utilize the AvaTrade Bitcoin exchange facility. However, AvaTrade only requires a £100 minimum investment to get you going.
Features of AvaTrade include
- Trading scenarios on graphs
- Trading available 24/7
- Accepts users who are not from the USA
- Provides many instruments to trade in such as crypto, CFD, Foreign exchange, stocks and many more.
Some platforms feature additional research and analytical capabilities because they are made for advanced traders. Demo accounts and instructional resources are available on the great majority of platforms. Less emphasis will be placed on such educational components on platforms that are not intended for beginners.
This article has analyzed the top seven UK-based online trading platforms and highlighted what to consider when making your own provider selection. As a result of its FCA regulation, extremely low costs, and straightforward user interface, eToro was determined to be the best trading platform altogether in the UK.