Trading can be challenging, especially if you are a newbie trying to maneuver the financial market. Not only do you need to be well-versed about the asset you want to trade, but you should also be capable of conducting thorough market analysis for the best strategies. Most importantly, you must identify the best trading platforms that will give you the best experience, thus maximizing your potential to succeed.
With many trading platforms to consider, it is challenging to settle for the best. Remember, the best trading platform in the UK must be hosted by brokers licensed and regulated by the Financial Conduct Authority (FCA). This is because such platforms adhere to stringent regulations set by the authority, thus guaranteeing your funds’ safety. You will also be able to trade under the best conditions. Other elements to consider to ensure you find a suitable trading platform include performance, availability of trading securities, fees/charges, demo account, support service, etc.
Sites Listing the Best Trading Platforms in the UK
As mentioned earlier, the UK financial market hosts hundreds of trading platforms, thus making the research process lengthy and overwhelming. This has led to traders looking for alternative methods of finding trading platforms within a short duration. The best way to find a trading platform without conducting research is by considering expert recommendations. However, not all online recommendations are legit, and it is crucial to perform the necessary due diligence about the site you are getting your information from.
For instance, in this trading guide you can find the best CFD brokers in the UK if you want to trade forex, stocks, commodities, cryptocurrencies, etc. Sites like this have proven legit, considering they list a team of dedicated professionals who go above and beyond to come up with unbiased recommendations. Plus, they take you through the procedures they undertake in their research to ensure you are comfortable and can easily make the best choice. To give you a quick heads-up, here are the top three recommendations that you will find listed on this site.
eToro is one of the best brokers offering trading platforms for trading various assets, including forex, stocks, commodities, cryptocurrencies, etc. Many expert researchers recommend the trading platform to newbies since it is user-friendly and backed up by a modern design interface. Plus, eToro features elements that maximize new traders’ experience, including a copy and social trading platforms. Plus, it hosts a gazillion learning resources and offers a virtually funded demo account to test it with and gauge your skill level. You only need a minimum deposit of £50 to get started.
2. IG Markets
Like eToro, IG Markets is another legit trading platform regulated by the FCA. The platform has existed for decades, and its presence globally is unmatched. Although newbies can use IG markets to trade various CFD assets, we primarily recommend it to expert traders because of its advanced features. For instance, IG Markets hosts multiple trading platforms, including MT4, L-2 Dealer, and ProRealTime, for traders with different skills. In addition, it hosts advanced trading resources that could significantly benefit professional traders. The only pitfall about this trading platform is that it has a minimum deposit requirement of £300 and charges high fees, which we couldn’t recommend for newbies.
Like IG Markets, Plus500 is another CFD trading platform to consider in the UK. The platform suits newbies and expert traders since it is user-friendly, customizable, and hosts adequate resources for maximum potential. The best element about Plus500 is that it is perfect for budget-conscious traders since it doesn’t charge commissions but low spreads. All transactions are also free, and you only need £100 as a minimum deposit to get started. Some of the assets you can trade with Plus500 include forex, commodities, shares, cryptocurrencies, ETFs, etc.
While confirming the legitimacy of a site you are getting your recommendations from is crucial, having the best trading platform in the UK is all about what suits your requirements. For instance, confirm a platform’s credibility to ensure you are trading with a legit partner. Also, factor in other elements listed in the article above so you can only focus on strategy development and increase your chances of succeeding. As a beginner, do not rush to invest a lot of money since you can lose it all if you are not keen. Instead, start small and take advantage of a platform’s demo account to practice and improve your skills before diving into the live markets.