Once upon a time, trading stocks and shares was considered a pastime – or profession – for the financial elite, with your average Joe on the street shying away from the complexities of the market and feeling overwhelmed by the very prospect of trading. But in today’s modern world, which has moved well and truly into the digital age, those same markets have become more accessible than ever before thanks to a new generation of trading apps and paved the way for even amateur investors to get involved.
These days, you don’t need to be a seasoned expert to dip your toe into the world of trading, with the latest apps and softwares available to download to your smartphone or laptop in moments. With automated signalling integration, user friendly interfaces and low cost investment opportunities when compared with traditional investment brokerages, it’s quick, easy and headache free to get started and start making those first deposits and trades – but are all trading apps created equal?
If you’re looking to get started with trading in 2023 or perhaps change up your app of choice, then there are some key characteristics to look out for, and even the most popular offer differing advantages. We asked the experts at financial advice website Sterling Savvy to take us through the best stock trading apps in the UK to consider in 2023.
eToro
One of the biggest and best-known trading apps on the block, eToro is perhaps best known for its social trading feature, which allows users to monitor and copy the trades of other – more successful – investors in real time. So, if you’re new to the space, then this is a great place to start and will help you to understand how experienced traders think and move. Portfolio diversification is always important when investing, and eToro provides you with the tools and information you need to do it. Offering a wide selection of financial instruments, ranging from stocks to cryptocurrencies and commodities, it’s user friendly and allows you to access almost anything you might be considering investing in in one place. It’s quick and easy to use, too, so it’s easy to see why it’s considered one of the best trading apps in the UK in 2023.
Trading 212
If you’re looking for a great commission-free stock trading app then Trading 212 is a good choice, and offers a diverse range of investment options including crypto, forex and ETFs. Widely used by traders of all experience levels and from all walks of life, it offers an intuitive and easy to navigate interface and offers up a host of comprehensive tools designed to make your trading journey easier. Its fractional investing feature is worthy of note, and allows users to purchase small fractions of more expensive shares – so if you’ve spotted an opportunity you’re keen to get in on but have limited capital to share, then Trading 212 offers you an alternative in-road. The app also provides a number of educational resources if you’re just starting out and looking to learn a little more about the markets, so be sure to take advantage of the articles and tutorials on offer. You can also have a go at trading in demo mode before getting started with the real thing, which offers a great chance to get some practice in before risking real capital.
Freetrade
Another app offering commission-free trading, if you’re looking for a low cost way to get started then this is one of them. Providing access to both UK and US stocks and ETFs, it offers a simple-to-navigate interface without compromising on tech innovations and caters to investors of all levels. Some of its most notable features include instant trades, which allow users to execute trades in seconds during market hours to take advantage of real-time prices, and auto-invest, which makes it possible to set up recurring investments or use round-up transactions to invest their spare change from everyday purchases, automatically, without even having to think about it. This is a great way to boost your portfolio passively whilst you concentrate on the big stuff, and could lead to improved returns in the long-run.
Revolut
Despite being best known for its banking services, Revolut has emerged as a worthy contender in the trading and investing space, having recently expanded its offering to include commission-free stock trading. There’s no minimum investment required, and it couldn’t be simpler to use – making it a popular, low-commitment choice amongst amateur investors looking to begin their journey in the easiest way possible. Revolut’s ‘Vaults’ feature is a great addition and works by automatically rounding up card purchases to the nearest pound before investing the change into a stock or ETF of your choice, which is great if you’re short on time and could pay off handsomely later down the line. If you’re looking to experiment before going all in, then Revolut is a good way to go – particularly if you already bank with them.
Disclaimer: Nothing in this article should be read or understood to be financial and/or investment advice. Readers should take their own financial advice from a suitably qualified independent financial adviser before making any investment decisions.
