The Best Online Stock Brokers in the UK
TopTradingPlatforms.co.uk every year do an official industry review of all the online stock brokers that are operating in the UK. Since we want to do things right for our readers, we spend endless hours testing and reviewing online stock broker’s services every year. This is the reason why industry leaders trust us and also because we are entirely independent and 100% unbiased.
But why we spend so long time reviewing the online stock brokers instead of focusing more on trading tips? We do that because we are all experienced traders here and we recognise that picking the right online stock broker is probably the most critical decision you will make as a trader.
Since every trader has a different budget and also a different investment style of stock and options trading, there isn’t an online stock broker that fits all, and this makes things a lot more complicated when looking for a reliable online broker. With increased competition in the sector, there are a vast variety of services brokers to choose from, and it is essential that individual traders will be highly selective in establishing which online stock broker best fits their trading needs.
We have done what we can to make stock traders decision as easy as it can be by testing and reviewing all aspects of those online trading platforms, the way they do work and how they can be best used. To make our reviews more ‘real,’ we have funded several online stock brokers accounts and tested their trading platforms extensively. Below you will find the outcome of our tests.
Top 3 Online Stock Brokers
Offers 4 ways to trade: Forex, CFDs, Spread Betting, Social Trading
Offers 2 ways to trade: Forex, CFDs
Offers 2 ways to trade: Forex, CFDs
How To Choose the best Online Stock Broker
If you are looking for an online stock broker, you need to look for the operator that meet your most essential needs as a trader. Although there isn’t a platform that is good for everyone, there are some objective criteria against which online stock brokers can be scored: cost per trade commissions, customer service, trading platforms, mobile trading, educational material and so on.
To simplify the online stock broker selection process, we have listed some of the most critical factors to watch out for:
Trading Costs – when are trading stocks online it is vital to understand what are the costs to place buy or sell orders. The majority of online brokers do charge a flat rate to buy and sell while others will charge the spread instead. Understanding what you are being charged and how this will affect your bottom line is of fundamental importance to be a successful long-term trader.
Trading Tools – surely having low-trading costs it is essential, but you cannot forget the service you are getting. In some situations, higher prices are justified by having access to a fully featured desktop-based or web-based trading platform that can give you an essential edge over your competitors especially during a technical analysis.
Investment Products – what is the different types of financial assets you can trade? Are you only interested in trading stocks online or you are also keen to trade ETFs, CFDs, options, forex, etc.? Generally having an online stock broker that can offer a wide range of financial asset is a good thing as it will ultimately improve your trading opportunities.
Mobile Trading – Nowadays we do a lot on the go and having the opportunity to manage your stock portfolio every time and from everywhere it is imperative. The vast majority of online stock brokers do offer efficient mobile trading apps, but some might not be as effective as others so this is undoubtedly one aspect to consider when selecting an online broker especially if you will trade a lot from your mobile.
Customer Service Quality – having the possibility to count 24/7 on top-notch customer support is a big plus when selecting an online stock broker. Things can happen very quickly when trading and having experienced agents at your needs can significantly improve the results over time.
Regulation – make sure you are selecting those brokers that are fully regulated in the UK by the Financial Conduct Authority (FCA). This will ensure that your capitals will be safe as if the online stock broker you are working with will go bankrupt, the regulator will guarantee your money.
Account Security – nowadays if you pick up an online stock broker that is large and regulated you shouldn’t worry about security. Every website is secured with the latest SSL encryption technology, and client data is stored on secure servers.
Order Execution – do some tests with a demo account to understand exactly how the online stock broker is routing and executing your orders. Quality of execution play a significant part in how successful a trader can be, and the concerning part is that many traders are not even able to tell the difference.