When choosing a trading platform You may be overwhelmed by the amount of options available. The sheer variety can create an uneasy feeling. What should you consider when choosing a trading platform to use? Let’s look at some different options. These include eToro, Interactive Investor, Hargreaves Lansdown, and Freetrade.
Freetrade
While the trading platform of Freetrade UK is extremely popular with retail investors, it comes with limitations. It’s only accessible as a mobile app and does not provide an online or desktop platform. This makes it not competitive with other alternatives. However, Freetrade is free to use and has a simple interface.
Freetrade is licensed by the Financial Conduct Authority and follows the rules of regulation that are in place. Investors are protected in the event that they experience financial losses. In the event of a dispute, the company can provide legal recourse and a compensation fund for its customers. It also has a YouTube channel and community forum that answers frequently asked questions from investors. It also offers clients an email newsletter and articles that will assist them in making better informed decisions.
eToro
eToro, a UK-based trading platform, provides many features. To start trading, you need to sign up for an account. This requires confirming your email address and UK mobile number. A few questions regarding your trading experience will be asked. You may also be asked to provide a copy of your ID.
Once you have registered, you are able to begin investing. You can invest as little as $10. eToro supports fractional investments and has a detailed help center. A virtual portfolio mode allows users to test the waters before you invest real money.
Interactive Investor
Interactive Investor UK is an authorised and regulated trading platform, which is a great way to safeguard your money. It also has an Knowledge Centre, a glossary as well as a free demo account. It is also covered under the Financial Services Compensation System (FCS) that provides an amount of compensation of up to $85,000 if the company goes under. Contrary to other trading platforms, Interactive Investor does not have access to your money; it holds your money in separate investment funds and trust accounts. It also has a high Trustpilot rating, boasting more than 22,000 reviews from customers and an average score of 4.7.
Interactive Investor UK was founded in 1995 and is the largest UK direct investment service that is based on subscription. It has over 400,000 clients and an AUA of PS55 billion.
Hargreaves Lansdown
When you are searching for a UK trading platform, you should think about Hargreaves Lansdown. Hargreaves Lansdown has been in operation since the 80s and provides an array of investment tools to traders. The company has over 2500 funds and instruments which include ETFs, shares and investment trusts. Shares are a popular choice for new investors, however, many prefer diversifying their portfolios by investing in ETFs and investment trusts.
Hargreaves Lansdown has been registered with the Financial Services Compensation Scheme, and their customers are covered under the scheme. They also have affiliations with several governmental and regulatory agencies, which ensures their customers’ money is safe.
Vantage
People seeking an dependable UK trading platform are invited to test Vantage. It allows traders to compare fees and brokerages and also choose from 9 base currencies. It also allows you to use the demo account without risking any money. This platform is an excellent option, regardless of whether you’re a beginner or an experienced trader.
It also provides a variety of tools for research. best trading platform uk with a minimum deposit of $1,000 can avail the Pro Trader Tools product. It is integrated into the client portal. The Featured Ideas tool is a useful tool that helps traders find trading signals. The Analyst Views feature provides automated analysis. The website also offers webinars and written material on various trading topics.