12 Best Online Stock Brokers in the UK for 2023 • Benzinga

The United States might steal most of the headlines due to the size and scope of markets, but they aren’t the only game in town. Across the ocean, U.K. investors also represent a sizable portion of the market. The London Stock Exchange alone makes up about 4% of the global stock market, which isn’t on the same level as the NYSE, but still significant. That why you need access to online brokers in the UK.

Yes, London is no longer the epicenter of global finance, but U.K. investors still have weight to throw around.

If you’re a U.K. resident, investing in financial markets has never been easier. In fact, online brokers based in the U.K. often have certain securities available that cannot be traded in the U.S., like contracts for difference (CFDs). Like many of their American counterparts, U.K. residents are beginning to take a greater interest in financial markets, especially the younger crowd. Which begs a very important question — which U.K. brokerage should you choose for your investments?

Based on the criteria listed above, Benzinga has compiled an ideal list of brokers for U.K. investors. Not all of these brokers will be a fit for everyone — you’ll need to do your own research and select the one that meets your goals as an investor. 

Interactive Brokers (IBKR) is one of the most popular online brokerage houses in the world thanks to its array of investable securities, multi-platform functionality, fair pricing and accessible customer service. IBKR features 135 tradeable markets from 33 different countries, along with 23 different currencies. 

Supported platforms include the popular Trader Workstation and a variety of APIs for personalized automated systems. The education and market research is top notch and customer service can be reached via phone, email and chat. IBKR is one of our top choices for investors regardless of country, but especially for U.K. investors.

IG is a broker most U.S. investors won’t have heard of, but it’s a great option for U.K. investors thanks to their wealth of investable securities, including CFDs based on stocks, indices, commodities and more. Currency traders will also appreciate the compatibility with MetaTrader 4, a heavyweight platform in the forex space.

IG clients can trade in two ways: through leveraged derivatives like CFDs and spread bets, or through buying and selling individual shares in a share dealing account. Share dealing accounts offer direct access to U.S. stocks for zero commission and U.K. stock trades can be executed for as little as 3 pounds. 

eToro has been on a marketing rampage lately with Alec Baldwin promoting the broker on practically every corner of the internet. But even if you don’t care for over-the-hill Hollywood actors, eToro is a great broker for novice investors thanks to its copy trading program, accessible customer service, and (best of all) zero-commission stock trading.

Now, other fees may apply if you’re trading international shares from a U.K.-based account, but eToro has a large supply of commission-free securities available. Additionally, eToro clients get unlimited trades and can buy or sell fractional shares. Demo accounts are available for new users who wish to paper trade stocks and other securities on the platform before laying down actual pounds.

Plus500 is a derivatives broker based in Europe that offers CFDs (Contracts for Difference) for a host of traders, especially those who are looking for a way to trade on mobile and get the same experience they are getting on their desktop. You can get into stock CFDs, yes, but you can also trade crypto, index and forex CFDs on this platform.

No, there are not nearly as many educational tools as you might like, but this can tell you whether this is the right platform for you or not. Use a demo account to get started, reach out to the customer support team for help and start a new branch of your portfolio today.

Magnifi is a marketplace that allows you, as the investor, to use common brokerage tools and AI to make the best decisions for your portfolio. Because you can pull up all the information you need on a given asset, you can easily invest in the assets that will give you the results you deserve and better match your strategy.

Search for the investment options that meet your needs, invest in specific categories or scan for assets in a price range that’s affordable for UK traders.

Best for long-term investors and those who require a bit of client support, you can also learn more about investing from this platform, utilize the AI-powered investing assistant, enjoy commission-free investing, try the mobile app and take advantage of over 15,000 possible investment options. This makes Magnifi a good place to trade for both seasoned and novice traders.

Public.com is an online stock trading platform that allows you to:

• Invest in U.S. stocks
• Use recurring investment plans
• Access the community to learn more bout investing, watch live shows and view community feeds

You can invest in over 5,000 U.S. stocks, take advantage of commission-free trading and enjoy low forex fees. Plus, your funds are converted from GBP to USD when you make a deposit so you don’t need to convert for every trade.

Thus, you can get started investing in your own, start small, grow your portfolio and receive the customer support you deserve. Using the advanced charting, insights and metrics that are available, you can make wise decisions and enter the U.S. stock market at your own pace.

Admiral Markets (also known as Admirals) allows investors just like yourself to trade stocks and ETFs. Moreover, you can take advantage of unique tools that include:

• Demo Trading
• Copy Trading
• Fractional Investing
• Islamic Accounts
• Asset Management Tools and More

You can also invest in forex and CFDs based on forex, stocks, indices, commodities, ETFs, crypto and bonds. It’s easy to register, fund and trade in a few short steps, and you can use a PC or MAC,  the mobile app, the web trader and access MT4 or MT5. 

Leverage up to 1:500, low spreads, real-time data and nearly 9,000 assets allow you to invest wholly and diversify your portfolio today.

When you want access to 2,100 global markets and a broker with over 20 years of experience, you should try XTB Brokers. The platform is customizable, easy to use, and allows you to invest in forex, indices, commodities, cryptocurrencies, stock CFDs and exchange-traded fund (ETF) CFDs. You have the option of jumping right in and trading or learning all about the investments you plan to make directly from XTB.

Plus, you can use the XTB mobile app to take your trading on the go, monitor your portfolio and ensure that you’re making the exact trades you should at the perfect time.

Remembering that XTB isn’t available to U.S. customers, there is an excellent customer service team that’s available Monday through Friday 9 am to 6 pm. Fully regulated in the UK and protecting customers up to 85,000 GBP under the Financial Services Compensation Scheme, XTB automatically offers 1 million EU, GBP or AUD of insurance through Lloyd’s of London to protect their portfolio and investments.

Capital.com is a robust brokerage house suitable for both novice and experienced traders. You’ll find the typical asset classes like stocks, bonds, currencies and commodities, but also cryptocurrencies and initial public offerings (IPOs). Popular trading platforms like MetaTrader 4 and TradingView can be used and plenty of real-time market data is available at the touch of a button.

But the real prize for clients is the massive library of educational materials about all different asset classes and trading styles. Complete courses are available on trading strategies and techniques, plus you get know-how guides on complex securities like CFDs, options and cryptocurrencies. Capital.com has the strongest educational offerings of the brokers listed here, making it ideal for new traders.

With a delightfully British-sounding name, Pepperstone is one of the largest forex and CFD brokers in the world with over 800 trading instruments and a presence on multiple continents. Pepperstone has CFD products based on stocks, indices, currencies, commodities, and cryptocurrencies, which can be traded on three different platforms: MetaTrader 4, MetaTrader 5, and cTrader.

Pepperstone offers 24/5 customer support through phone, email and chat. The service is top-notch and it’s got the hardware to back it up. It’s won awards for Best Client Relationship Manager Service, Best European Forex Trading Support, No. 1 Client Satisfaction, and No. 1 Overall Customer Support.

When you use TradeZero, you get 24/7 customer service and a range of assets to trade. However, the best part of this site and app is the option to trade on your desktop or mobile phone.

You can use the free version of the mobile app or web app. Plus, you can step up to ZeroPro or ZeroWeb depending on where you prefer to trade. For just $59 per month, you get a range of discounts on trading fees with a ZeroPro account. Plus, you can trade 100,000 shares per month, options, futures, and choose from many other financial instruments.

Swissquote is a company that went public in 2000 and makes it easy for many European traders to improve their portfolios. The platform allows you to invest in more than just stocks, including ETFs, derivatives and more. This makes it easier for you to build a whole portfolio that gives you more diversity and better options for growth.

Designed for financial professionals, active day traders, CFD traders, derivatives traders and anyone who wants powerful trading options and elaborate tools, Swissquote makes it easy to improve the quality of your portfolio by offering more options and information. You can set up private and business accounts, and you will benefit from several features like:

• MetaTrader 4
• MetaTrader 5
• Autochartist
• Plugins
• Advanced Trader
• FIX API

Most securities are now traded online. Yes, you still see stock traders on the floor of exchanges like the NYSE and you can still call your broker on the phone and place a trade if you really want to. But online stock trading has opened the markets to large swaths of people who otherwise never had access. And not only are new generations of investors gaining access, but fees and commissions are on a nonstop decline toward zero.

For the average U.K. investor, a share dealing account at an online brokerage house is the best way to invest in capital markets. You can trade all kinds of securities through online brokers, from simple stocks and bonds to complex derivatives like options and CFDs. Competition for your capital is fierce among these brokers and many different platforms exist for traders of different experience levels. Choosing an online brokerage requires a little bit of research since every investor has unique goals and needs even when you’re looking for the best stock brokers in the UK.

How to choose an online broker? Create a list of crucial criteria and see which of the available options is best suited for you. 

• Speed and efficiency: Trading becomes very difficult with slow speeds, confusing platforms and awkward websites. Many brokers will offer a demo version of their platform for paper trading, which is a great way to get a test drive. If you can’t learn the basics by the end of the trial period, it’s probably not for you.  

• Market data and education material: In 2021, a broker needs to provide more than just trading software. The markets are more open than ever before, but education and guidance are needed to steer clients toward their financial goals. Find a broker that provides plenty of educational material and real-time market data so you can make informed decisions.

• Minimal costs: There’s no need to pay through the nose for the right to trade anymore. Compare commissions and fees among your favorite potential brokers and choose the most cost-effective one. Remember, excessive fees and commissions come right out of your returns.

• Variety of available asset classes: Diversification is one of the keys to successful investing, so you’ll want to have access to stocks, bonds, ETFs, mutual funds and maybe even derivatives like options, futures and CFDs.

• Customer support: Even the most efficient brokers will have technical issues or concerns from clients from time to time. Having convenient customer service is a must, which means multiple contact methods and lengthy hours of operation. Don’t choose a broker who will leave you hanging if you have a problem.

Thinking of opening a brokerage account and investing? If you live in the U.K., consider using one of these options for your trading needs. Both beginners and experienced traders can find something useful from this collection of brokers, whether it’s fast execution, asset class variety, or simply low fees and commission. You’ll need to consider which factors mean the most of you. But no matter which you choose, plenty of opportunities await U.K. investors in markets on both sides of the ocean.