10 Best Stock Brokers UK for 2023 – Compare Stock Trading Platforms

Stock brokers enable UK investors to buy and sell shares online in a safe and secure environment.

Choosing the right stock broker is an important part of the investment process, so investors will need to consider factors such as fees, supported share markets, minimum deposit requirements, user-friendliness, and more.

In this comparison guide, we help clear the most by reviewing the 10 best stock brokers in the UK for 2023.

10 Best Stock Brokers UK Reviewed

There are many metrics to explore when attempting to select the overall best online stock broker in the UK.

For instance, it is important to assess what shares the broker supports and whether or not this includes international markets, such as those in the US and Europe.

It is also important to consider fees, commissions, and minimum account requirements, not to mention the regulatory status of the stock broker.

Below, we evaluate the above factors and more by reviewing the 10 best stock brokers for UK investors.

1. eToro – Overall Best Online Stock Broker in the UK

eToro is the overall best stock broker in the UK market. This stock broker is used by more than 30 million clients and has been operational since 2007. eToro is authorized and regulated by the Financial Conduct Authority (FCA), in addition to regulatory bodies in the US, Cyprus, and Australia.

Moreover, and perhaps most importantly, eToro is covered by the Financial Services Compensation Scheme (FSCS). As such, this protects client stock broker accounts by up to £85,000 in the event of a brokerage collapse. All in all, eToro is a clear winner when it comes to reputation, safety, and regulatory protections.

Not only that, but we also found that eToro is one of the best stock brokers for low fees. For instance, when electing to invest in UK shares, eToro waivers stamp duty tax, which saves investors 0.5%. Furthermore, both UK and international shares can be bought and sold at eToro on a 0% commission basis.

Usually, UK stock brokers charge a premium to invest in foreign companies – but this isn’t the case with eToro. There are more than a dozen international exchanges supported by eToro – including the US markets. This means that UK investors can buy Amazon shares, as well as other popular companies like Apple, Alphabet (Google), and Tesla.

Another reason why eToro represents the overall best online stock broker is that the platform offers ‘fractional’ shares. In a nutshell, this means that eToro clients can buy any UK or international shares from just $10 (about £8) – regardless of the stock price. This could come in handy when electing to buy Apple shares, for instance, which trade at over $150 (about £125) each.

We also found that eToro is one of the best stock brokers for passive investors. There are two proprietary investment tools available in this regard – both of which come without additional fees. First, eToro supports dozens of smart portfolios. Each smart portfolio is professionally managed by eToro and will focus on a specific niche from within the stock trading industry.

For example, the BigTech smart portfolio represents a basket of large technology companies. This includes the likes of Visa, Tesla, Nvidia, Netflix, Verizon, and Meta Platforms. The key benefit here is that through a single investment, smart portfolios offer diversified access to the stock markets.

Not only that, but eToro will automatically rebalance and maintain the smart portfolio on behalf of investors – so the end-to-end process is completely passive. Another passive tool is the eToro copy trading feature. This tool enables eToro users to copy the investments of a successful trader like-for-like.

For instance, let’s suppose that the trader decides to buy Alphabet shares, alongside BT, BP, and British American Tobacco. In this scenario, the exact same shares will be added to the eToro user’s portfolio but at a proportionate amount. When investing in smart portfolios or copy trading, the minimum requirement is $500 (about £410) and $200 (about £160) respectively.

We should also note that in addition to UK and international shares, eToro also supports a wide selection of other popular asset classes. For example, it is possible to buy cryptocurrency assets like Bitcoin, Ethereum, and over 70 others. The commission here is 1% and the minimum cryptocurrency investment is just $10.

Additionally, eToro also supports a selection of quality ETFs, putting it amidst the best ETF brokers in the UK, alongside tradable markets on forex, commodities, and indices. To get started with eToro today, it takes less than five minutes to open an account. The minimum deposit for UK investors is $10 and supported payment types are inclusive of debit cards, PayPal, Skrill, bank transfers, and more.

Read our full and detailed eToro UK review for more information on this top-rated stock broker.

81% of retail investor accounts lose money when trading CFDs with this provider.

2. XTB – Trade UK and International Stocks at 0% Commission     

XTB is one of the best stock brokers for active traders. XTB supports contracts-for-differences (CFDs), which track the real-world value of a stock. As such, while traders at XTB will not own the underlying shares, the platform still enables UK clients to speculate on the future value of the respective company.

And, by choosing XTB for short-term stock trading, UK clients will not pay a single penny in commission. Furthermore, XTB offers some of the tightest spreads in the market, so overall, fees are super-competitive. XTB is also ideal for trading stocks with leverage. In line with FCA limits, UK clients can trade stocks with leverage of up to 1:5.

This means that a £1,000 stock trading position requires an account balance of just £200. Furthermore, XTB enables UK clients to go short on stocks. This means that traders can make a profit if the value of the stock goes down. This can come in handy when the broader stock markets are on the decline.

In total, XTB supports more than 1,850 stocks from a wide variety of markets. In addition to UK shares, this also includes companies based in the US and more than a dozen European exchanges. XTB also supports UK and global ETFs, alongside commodities and indices. XTB is also considered one of the most popular forex brokers in the UK for active currency traders.

XTB has its own native trading platform – xStation, which can be accessed online or via a mobile app for iOS and Android. Opening an XTB account takes less than five minutes and this popular UK CFD broker accepts debit and credit cards on a fee-free basis. Although Skrill is accepted too, this attracts a 2% deposit fee.

81% of retail investor accounts lose money when trading CFDs with this provider.

3. Skilling – User-Friendly Stock Trading Platform With a Solid Mobile App

Skilling is another top-rated online broker that enables UK clients to trade stocks via CFDs. Just like XTB, Skilling offers leverage of up to 1:5 on all supported stocks. Moreover, UK traders can go long or short on their preferred markets. Skilling offers just 700 stocks on its platform, which largely covers companies that are listed in the UK and the US.

There are two primary account types to choose from at Skilling. Casual traders will likely be suited for the standard account, which offers commission-free trading on all supported assets. The minimum deposit is just £100 on the standard account. The premium account – which is aimed at professional traders, comes with a minimum deposit of £5,000.

The premium account comes with commissions but spreads are a lot more competitive. Both account types come with a selection of trading platforms, including MT4 and cTrader. The proprietary platform backed by Skilling, however, is more suitable for beginners. This can be accessed online or via the Skilling app for iOS and Android.

In addition to stocks, Skilling also supports commodities, indices, and forex. Once again, as Skilling specializes in CFD instruments, UK clients will not have access to cryptocurrencies. Skilling also offers a copy trading service that comes with more than 800 pre-vetted strategies.

The best way to try this out is by starting off with the Skilling demo account. Not only does the demo account track the real-world financial markets, but it comes pre-loaded with paper trading funds. When trading with real money at Skilling, the platform accepts UK debit and credit cards, PayPal, Skrill, Trustly, and Klarna.

75% of retail investor accounts lose money when trading CFDs with this provider.

4. Plus500 – Popular Trading Platform for International Stocks

Plus500 is a CFD trading platform that supports thousands of financial instruments. The platform is used by more than 23 million clients globally and remains a solid choice for trading with leverage. As per UK regulations, Plus500 clients can trade stocks with leverage of up to 1:5. Higher limits are available when trading other CFD markets, such as forex and gold.

In terms of supported stocks, Plus500 offers access to more than 20 global exchanges. In addition to the UK, this includes stock markets in the US, Spain, Switzerland, Hong Kong, Japan, South Africa, Singapore, Germany, Australia, and more. Irrespective of the stocks being traded, there are no commissions to pay at Plus500.

Alongside stocks, Plus500 offers access to many other asset classes and markets. This includes a huge range of ETFs, indices, and options, not to mention commodities and currencies. Speaking of options trading, did you know that Plus500 is one of the best options trading platforms in the UK? Plus500 also offers a demo account for traders that wish to try the platform out without risking any capital.

In addition to offering tight spreads and 0% commission, Plus500 supports fee-free deposits and withdrawals. Payments can be made with a UK debit/credit card, as well as e-wallets like PayPal and Skrill. Plus500 also offers an app for iOS and Android smartphones, which is free to download and connects to the primary trading account.

84% of retail investor accounts lose money when trading CFDs with this provider.

5. AvaTrade – Advanced Trading Features and Analysis Tools 

AvaTrade is an established trading platform that is regulated in multiple jurisdictions. It offers a safe and secure environment to trade a wide range of CFD instruments, including UK and international stocks. AvaTrade also supports tradable markets for forex, hard and soft commodities, indices, bonds, ETFs, and more.

As is the case with most CFD brokers in the UK, AvaTrade offers leverage and short-selling capabilities. All supported markets can be traded without paying any commission. Moreover, we found that AvaTrade spreads are generally very competitive. AvaTrade is, however, perhaps more suitable for experienced stock traders.

This is because the AvaTrade suite comes packed with advanced tools and features. This enables traders to perform high-level chart analysis through dozens of technical and economic indicators. Moreover, AvaTrade supports both MT4 and MT5. Our UK stock broker comparison found the minimum first-time deposit at AvaTrade is £100. Instant deposits via debit/credit cards are available.

76% of retail investor accounts lose money when trading CFDs with this provider.

6. Pepperstone – Top Spread Betting Platform for Tax-Free Stock Trading

Pepperstone is one of the best UK stock brokers for spread betting. Put simply, spread betting enables UK clients to speculate on the future value of stocks without owning the underlying shares. And just like CFDs, leverage and short-selling are supported. But crucially, when spread betting stocks at Pepperstone, the process is entirely tax-free.

This is because spread betting profits sit within the ‘gambling’ category in the UK, so capital gains are immune from tax. At Pepperstone, stocks from the UK, US, Australia, and Germany can be traded. There are no commissions to pay at Pepperstone, so stocks can be traded on a spread-only basis.

Pepperstone does not have its own proprietary trading platform but it does support plenty of popular third-party options, such as MT4, MT5, cTrader, and TradingView. Alongside, stocks, Pepperstone also offers tradable markets for forex, indices, commodities, and ETFs. Deposits are processed by Pepperstone fee-free across debit/credit cards, Paypal, and bank transfers.

78.8% of retail investor accounts lose money when trading CFDs with this provider.

7. IG – Buy and Sell More Than 13,000 UK and International Shares

IG is an established trading platform and one of the best stock brokers for beginners in the UK. In total, IG offers access to more than 13,000 shares from the UK and international markets. Unlike eToro, however, IG does not offer commission-free trading. Instead, IG clients will need to pay a flat commission on each share investment.

This amounts to a commission of £8 when trading UK shares, in addition to 0.5% in stamp duty tax. By executing three or more traders in the prior month, the £8 commission is reduced to £3. When buying and selling US-listed shares like Apple and Amazon, a commission of £10 is charged. This is reduced to £0 when trading three or more times in a calendar month.

Do note, however, that US shares will also attract a 0.5% foreign exchange fee. In addition to shares, IG also enables UK clients to invest in funds and investment trusts. IG also supports CFD markets, which will appeal to traders that seek leverage and/or short-selling capabilities.

8. Hargreaves Lansdown – Trusted Broker Offering Stocks and Shares ISAs

Hargreaves Lansdown is one of the best UK stock brokers for investing in shares via an ISA. This stock broker supports thousands of shares from the UK, as well as international exchanges like the NYSE and NASDAQ. The Hargreaves Lansdown stock investment platform is simple to use and thus – requires no prior experience.

However, we should note that Hargreaves Lansdown won’t be suitable for investors that are in the market for cheap stock brokers in the UK. Put simply, Hargreaves Lansdown charges a flat dealing fee of £11.95 when buying and selling shares. Moreover, if investing through a UK ISA, there is a 0.45% annual fee to pay.

9. Capital.com – Trade Nearly 3,000 Global Shares at 0% Commission

Capital.com is a CFD-only broker that supports nearly 3,000 global shares. This includes markets in the UK, Canada, Australia, Japan, Germany, Singapore, and many others. When trading stocks at Capital.com, there are no commissions to pay. This is the case across all supported markets, which include forex, commodities, and indices.

Capital.com has its own native trading platform and mobile app, and the minimum first-time deposit is just £20. However, if opting for a bank transfer as opposed to a debit card or e-wallet, the minimum is increased to £250. There are no deposit or withdrawal fees at Capital.com and the platform also supports spread betting.

10. CMC Markets – Online Trading Platform for Spread Betting and CFDs

The final option to consider on this list of the best UK stock brokers is CMC Markets. This platform specializes in low-cost derivatives across both spread betting markets and CFDs. In total, CMC offers support for more than 10,0000 tradable shares, in addition to forex, commodities, ETFs, treasuries, and indices.

When trading shares in the UK, Germany, France, and most other markets, there is a 0.1% commission charged per slide. When trading US-listed stocks, there is a $0.02 fee to pay on each share traded. This comes with a minimum commission of $10. It takes just minutes to join CMC Markets and instant deposits are supported via debit cards.

How We Ranked the Top UK Stock Trading Platforms

Share investments in the UK are now open to budgets of all sizes, including both domestic and international markets. The key issue is knowing which stock broker to choose, considering the many factors that need to be considered.

In the sections below, we explain the main criteria that we look for when ranking the best online stock brokers for 2023.

Range of Stocks

First, we explore the range of shares offered when ranking top stock brokers in the UK.

The best stock market broker that we came across in this regard is eToro. The reason for this is that eToro offers access to more than 2,500 stocks from the UK, US, Europe, Asia, and more.

Some brokers, on the other hand, only support shares listed on the London Stock Exchange – which is one of the worst-performing markets globally over the prior 20 years.

Fees

Fees are, of course, also important when selecting a UK stock broker.

Commissions, otherwise referred to as share dealing fees, are sometimes charged when buying and selling stocks. IG, for example, charges up to £8 per order, while at Hargreaves Lansdown, this is even higher at £11.95.

eToro, on the other hand, does not charge any commissions at all. This is the case for both UK and international stocks.

Tools & Analysis

Many of the stock brokers we discussed today offer in-house market insights, financial news, and even charting tools.

This is something to consider, as having access to solid information backed by experts is crucial when selecting stocks to buy.

Minimum Deposit

Some online brokers have a minimum deposit in place, which can vary wildly depending on the platform. For example, while Capital.com accepts deposits from just £20 when using a debit card, bank transfers require at least £250.

At eToro, all supported payment methods require a minimum deposit of just $10 or about £8.

Mobile App

The likes of eToro, XTB, and Skilling each offer a proprietary mobile app that connects to the primary account. This ensures that traders can buy and sell stocks while on the move.

In particular, the eToro app for both iOS and Android is very user-friendly. Investors can type the name of the stock they wish to buy followed by the investment amount, and the order will be processed instantly.

Demo Account

Completely new to the world of online stock trading? If so, it’s well worth choosing a broker that offers a free demo account. In doing so, this enables traders to buy and sell stocks with ‘paper money’.

In other words, demo accounts are great for learning the ropes of stock investing in a risk-free manner. All eToro clients have access to a free demo account that comes with $100,000 in virtual funds.

Payment Methods

The process of depositing and withdrawing money should also be simple when using an online stock broker.

The best stock investment platforms in the UK support bank transfers, debit cards, and even PayPal. Be sure to assess the minimum deposit for the preferred payment type and whether any fees apply.

Customer Service 

Most online brokers in the UK offer customer support via a live chat box. This usually connects the account holder with a support representative near-instantly.

Rarely do brokers offer a telephone service but this is still an option with established platforms like IG and Hargreaves Lansdown.

How do Stock Brokers Work?

Stock brokers make the process of buying and selling shares simple, as everything can be completed online. In its most basic form, this is because brokers sit between investors (like you) and stock exchanges.

As such, stock brokers are merely intermediaries.

• Nonetheless, the process of opening an account with a stock broker is just a case of providing some personal information.
• After the account is open, a deposit will need to be made.
• The best stock brokers in the UK accept instant payment methods, such as a debit card or Paypal.
• After the account has been funded, investors can choose which shares they want to buy.
• This part of the process is also seamless, as investors simply need to specify how much money they want to invest.

Once the investment is confirmed, the stock broker will proceed to purchase the respective shares from the open marketplace at the best price possible. Some, but not all, stock brokers will charge a commission for completing the trade.

How to Get Started with a Regulated UK Stock Broker

It takes just five minutes to buy shares at a UK stock broker like eToro. This includes the process of opening an account and making a deposit.

Here’s a step-by-step walkthrough on how to get started with eToro right now:

Step 1: Open an Account

First, visit the eToro website, click on ‘Sign Up’, and proceed to enter some personal information as requested.

The account registration takes just a couple of minutes to complete.

Note: eToro will ask for a copy of a passport or driver’s license as per FCA regulations. However, there is no requirement to do this straight away if the deposit amount is under €2,000 or about £1,800.

Step 2: Make a Deposit 

Choose a deposit method to fund the newly created account. Options include debit cards, PayPal, Skrill, and bank transfers.

The minimum deposit is $10 or about £8.

Step 3: Search for Stock

Next, search for a stock by typing the company’s name in.

In the example above, we are searching for Tesla.

Step 4: Buy Stocks 

Finally, fill out the order form that appears on-screen.

This requires an investment amount to be specified, which can be anything from $10 upwards.

To buy the chosen stock, click ‘Open Trade‘.

81% of retail investor accounts lose money when trading CFDs with this provider.

Conclusion

UK investors have access to a plethora of online stock brokers and we have reviewed 10 of the most popular. eToro remains the most popular UK stock broker for low fees, considering that both domestic and international shares can be purchased at 0% commission.

eToro also offers fractional investing, so any supported stock can be bought from a minimum of $10 – or about £8.

81% of retail investor accounts lose money when trading CFDs with this provider.

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