Best Day Trading Platforms & Brokers UK Reviewed
Day trading platforms allow UK investors to buy and sell a full range of asset classes – including stocks, crypto, forex, commodities, and more.
With so many providers operating in this space, this guide compares the 10 best day trading platforms in the UK right now.
In addition to supported markets and top customer service, we consider UK trading platforms with a strong regulatory framework alongside low fees and other important metrics.
The 10 Best Day Trading Platforms in the UK
Before getting to our comprehensive reviews, check out the list below – which highlights the 10 best day trading platforms in the UK.
- Capital.com – Overall Best Day Trading Platform in the UK
- eToro – FCA-Regulated Platform With Copy Trading Tools
- Libertex – Great Day Trading Platform for Commodities
- Alvexo – CFD Trading Platform UK Traders Accepted
- XTB – Day Trade Over 2,100 Global Markets
- Pepperstone – Top Day Trading Platform for Raw Spread Accounts
- AvaTrade – Regulated Broker That Supports MT4 and MT5
- IG – UK Trading Platform With Access to 18,000 Financial Instruments
- Forex.com – Specialist Broker for Currency Day Traders
- Skilling – User-Friendly Day Trading App With Advanced Analysis Tools
- CMC Markets – Trade More Than 330+ Forex Pairs
78.91% of retail investor accounts lose money when trading spread bets and/or CFDs with this provider.
Best UK Day Trading Platforms Reviewed
Choosing the best day trading platform in the UK will require the user to research brokers in terms of regulation, ease of use, supported markets, accepted payment types, and fees.
Below, we offer comprehensive reviews of the 10 best day trading platforms in the UK to consider right now.
1. Capital.com – Overall Best Day Trading Platform in the UK
Across most of the metrics that we looked for when searching for the best platform for day trading in the UK – Capital.com came out as the overall top provider to consider. This platform offers UK residents a safe environment to trade, not least because it is regulated by the FCA, NBRB, CySEC, and ASIC.
Moreover, Capital.com allows UK residents to get started with an account in a matter of minutes and the minimum first-time deposit is just £20 when opting for a debit/credit card or e-wallet. UK bank transfers require a higher minimum of £250. Nonetheless, no fees are charged on deposits or withdrawals at Capital.com.
Furthermore, Capital.com allows UK residents to trade CFDs (contracts-for-differences) on a 0% commission basis. This day trading platform also supports spread betting. This allows UK residents to trade in a tax-free manner, as spread betting instruments are defined by HMRC as gambling products.
In terms of supported markets, Capital.com covers thousands of UK and international stocks. This covers foreign markets from the US, Canada, Singapore, Germany, Hong Kong, and many others. Capital.com also supports ETFs, commodities, and indices. We also like Capital.com for its nearly 140 forex pairs, which come with minimum a spread of 0.6 pips.
Another reason why we found Capital.com to be the overall best day trading platform in the UK is that it offers leveraged markets. This means that traders can enter positions with more than they have in their Capital.com account. As per FCA regulations, UK retail clients can trade major forex pairs with leverage of up to 1:30.
Minor forex pairs and gold can be traded with leverage of 1:20, while stocks attract a maximum of 1:5. Either way, leverage is a tool utilized by many seasoned day traders that wish to amplify the value of their positions. Capital.com, as a CFD and spread betting platform, supports long and short orders.
See our full Capital.com review.
In turn, this means that UK residents can attempt to profit from both rising and falling markets. Capital.com allows users to trade online via a standard web browser, as well as through its mobile app for iOS and Android. There is also support for the third-party trading platform MT4, which comes packed with tools and features.
| Assets | CFDs and spread betting. Stocks, ETFs, commodities, indices |
| Pricing System | 0% commission on all markets |
| EUR/USD Spread | From 0.6 pips |
| Min Deposit | £20 (debit/credit cards and e-wallets), £250 on bank transfers |
| Day Trading Tools | Charts, MT4, leverage, long/short orders, market insights |
What We Like
- Overall best day trading platform in the UK
- Trade with leverage
- Regulated by the FCA, ASIC, CySEC, and NBRB
- Supports commodities, forex, stocks, and indices
- 0% commission and tight spreads
- CFDs and tax-free spread betting markets
78.91% of retail investor accounts lose money when trading spread bets and/or CFDs with this provider.
2. eToro – Low-Cost Broker With Copy Trading Tools
eToro was a close second when we ranked the overall best day trading platforms in the UK. This platform – which is used by more than 25 million clients, is authorized and regulated by the FCA, as well as CySEC, ASIC, and the SEC. Furthermore, UK residents will appreciate that eToro is covered by the FSCS.
In addition to offering a safe and secure day trading environment, we like that eToro allows UK residents to invest in stocks and ETFs at 0% commission. These are real stocks, as opposed to CFDs, so investors will retain full ownership of the underlying shares.
Supported stock and ETF markets here include exchanges in the UK, US, Europe, Asia, the Middle East, and more. Both UK and foreign markets are available to trade at 0% commission. eToro is also the best day trading platform for crypto. When users elect to invest in crypto here, eToro will charge a competitive fee of just 1% per slide.
Moreover, not only can users buy Bitcoin at eToro, but nearly 80 other cryptocurrencies. eToro also offers CFD markets that support commodities, indices, and forex, as well as stocks and ETFs. The minimum stake at eToro is just $10 per trade, or about £8. This is the case even if the respective asset class carries a high valuation.
For instance, let’s suppose that an investor decides to trade Alphabet stocks, which are priced at $2,200 each. Should the investor allocate $22 to this position, they would own 1% of an Alphabet stock. Another stand-out feature offered by eToro is its Copy Trading service. As the name suggests, this allows investors to ‘copy’ the buy and sell positions of an experienced trader.
As such, the Copy Trading tool allows eToro users to trade passively and without needing to have any prior investment experience. Longer-term investors will also appreciate the Smart Portfolios available on eToro. These are bundles of stocks and crypto assets that mirror a specific strategy and each Smart Portfolio is professionally managed.
To open an account with eToro, UK residents can get started with a minimum first-time deposit of just $10. Some of the most convenient payment types supported by eToro include UK debit and credit cards, as well as e-wallets like Paypal and Skrill. eToro also offers one of the best day trading apps in the UK, which is free to download on both iOS and Android smartphones.
Read More: Our full and detailed eToro review UK can be found here.
| Assets | Real stocks, ETFs, and crypto. CFDs on forex, commodities, indices |
| Pricing System | 0% commission on real stocks and ETFs. 1% on crypto. Spread-only on other assets. |
| EUR/USD Spread | From 1 pip |
| Min Deposit | $10 (about £8) |
| Day Trading Tools | ProCharts, market sentiment bars, technical indicators, leverage, long/short orders |
What We Like
- FCA regulated and FSCS protected
- Best day trading stocks platform for the UK and international markets
- Spread-only model on forex, indices, and commodities
- Supports Copy Trading and Smart Portfolios
- Low minimum deposit of just $10 (about £8)
- Top mobile app for iOS and Android
Your capital is at risk. 68% of retail investor accounts lose money when trading CFDs with this provider
3. Libertex – Great Day Trading Platform for Commodities
Next up we have Libertex, which is perhaps the best day trading platform for beginners wishing to speculate on commodities. On this platform – which has been operational for over 24 years, traders can access the three core commodity classes – metals, energies, and agriculture,
This means that UK residents can trade everything from gold, silver, and natural gas to crude oil, sugar, and coffee. Each and every commodity trading market supported by Libertex can be traded with leverage, in line with UK regulations. Once again, this means that retail clients can get 1:20 on gold, and 1:10 on other commodity classes.
When it comes to fees, commodities can be traded with a super competitive commission of just 0.0003% per slide. In simple terms, this means that for every £10,000 traded, a commission of just 3p will apply. Spreads are also very competitive on the Libertex platform. In addition to commodities, Libertex supports a wide range of other CFD markets.
This is inclusive of stocks, forex, options, indices, and ETFs. Getting started with a Libertex account requires just £10 and supported payment types include e-wallets, debit/credit cards, and bank transfers. There is also a Libertex demo account, which comes with $10,000 in paper trading funds.
Moreover, we like that Libertex supports both MT4 and MT5, as well as a mobile app for iOS and Android. The final thing to note about Libertex is that it now allows users to invest in real stocks. Not only does this offer access to hundreds of US-listed companies, but no trading commissions are charged.
| Assets | Real stocks. CFDs on forex, commodities, indices, options, ETFs |
| Pricing System | 0% commission on real stocks. From 0% on CFDs. |
| EUR/USD Spread | From 0.3 pips |
| Min Deposit | £10 |
| Day Trading Tools | MT4/MT5, advanced charting tools, demo account, leverage |
What We Like
- Best day trading platform for commodities
- Advanced trading and analysis tools
- Great selection of markets
- 0% commission on major pairs
Your capital is at risk. 70.8% of retail investor accounts lose money when trading CFDs with this provider.
4. Alvexo – CFD Trading Platform UK Traders Accepted
Alvexo is a popular day trading platform that makes use of CFDs (contracts for difference) for UK investors to margin trade financial assets with leverage – of up to 300:1. Although note that UK traders can’t access cryptocurrency CFD trading on Alvexo, only its other supported markets.
Alvexo supports MT4 and has its own in-house web trader browser-based platform with fast execution and advanced technical analysis charting tools. Daily, weekly and monthly trading signals are also offered alongside educational courses and webinars to learn to trade.
Besides crypto trading (for those outside the United Kingom) Alvexo also offers stocks, indices, currencies (FX markets), and commodities. Over 372,000 registered members trade at Alvexo, with a trading volume over $54 billion.
Alvexo is a licensed and regulated broker, under the FSA – operated by HSN Capital Groups which is regulated by the Financial Services Authority of Seychelles with license number SD030. Visa and Mastercard are accepted, alongside some less common payment methods for UK trading platforms such as Paypal, Apple Pay, Google Pay, and Skrill.
As well as the positive reputation it has built up since its founding in 2014, Alvexo has won multiple awards – including best mobile trading app, best investment product, best trading platform, and best product innovation – all London Trader Show Awards.
| Assets | CFDs on stocks, indices, cryptocurrency, commodities, forex |
| Pricing System | Classic, Gold, Prime, Elite VIPs pay no commission |
| EUR/USD Spread | From 1.4 pips |
| Min Deposit | €500 |
| Day Trading Tools | Web Trader, MT4, Mobile App |
What We Like
- Over 450 assets
- Account funds segregated for security
- Responsive Customer support
- Public presence – yearly IRL events with expert speakers
Trading CFDs involves a significant risk of loss that may not be suitable for all investors.
5. XTB – Day Trade Over 2,100 Global Markets
XTB is a CFD trading platform that offers access to more than 2,100 global markets. This includes a wide range of forex pairs across the majors, minors, and exotics. XTB also supports stocks, ETFs, indices, and commodities. When it comes to trading fees, this depends on the account that the user decides to open.
The standard account at XTB offers forex spreads that start from 0.5 pips. The swap-free account comes with slightly higher minimum spreads of 0.7 pips, but the opportunity to trade leveraged products without paying any overnight financing fees. Both of the accounts offered by XTB are commission-free.
XTB is also one of the best day trading platforms in the UK for seasoned investors. Its xStation 5 platform comes with superior execution speeds, custom charts, technical and economic indicators, and plenty of drawing tools. xStation 5 can also be downloaded as an iOS and Android app.
| Assets | CFDs on stocks, ETFs, indices, commodities, forex |
| Pricing System | 0% commission on all markets |
| EUR/USD Spread | From 0.5 pips |
| Min Deposit | No minimum stated |
| Day Trading Tools | xStation 5 platform, fast execution speeds, leverage, drawing tools |
What We Like
- Trade more than 2,100 global markets
- 0% commission on all supported financial instruments
- Swap-free accounts available
6. Pepperstone – Top Day Trading Platform for Raw Spread Accounts
Seasoned day traders know the importance of choosing a platform that offers competitive spreads. After all, this is an indirect trading fee that applies to virtually all positions. However, when opting to open an account with Pepperstone, it is possible to avoid spreads entirely.
This is because Pepperstone offers raw spread accounts, with allows users to trade directly with core market participants. In most cases, this offers the ability to trade major forex pairs at 0 pips, with a small commission of $3.50 per slide. This will suit traders that typically enter positions with a large amount of capital.
Those that wish to day trade with casual investment stakes might consider the standard account offered by Pepperstone. While this comes with spreads, there are no trading commissions charged. In addition to forex, Pepperstone offers access to several other CFD asset classes. This is inclusive of stocks, ETFs, indices, and commodities.
| Assets | CFDs on stocks, ETFs, indices, commodities, forex |
| Pricing System | $3.50 on raw account, 0% on standard account |
| EUR/USD Spread | From 0 pips |
| Min Deposit | No minimum stated |
| Day Trading Tools | Raw spread accounts, leverage, charting tools, technical indicators, market insights |
What We Like
- Trade forex from 0 pips via a raw spread account
- Leverage offered on all supported markets
- Supports MT4, MT5, and cTrader
7. AvaTrade – One of the Best Day Trading Platforms for Spread Betting
AvaTrade is a CFD broker that also allows UK residents to access spread betting markets. As we briefly mentioned earlier, spread betting is viewed as gambling in the UK and thus – no tax is liable on capital gains. This is a major benefit for UK residents, especially considering that spread betting works much the same as trading CFDs.
When trading spread betting markets at AvaTrade, users will benefit from a commission-free pricing model. Traders will also be able to speculate on both rising and falling markets, as positions can be opened with either a buy or sell order. Furthermore, AvaTrade is ideal for those looking to day trade on a budget.
After all, the platform requires a minimum stake of just 10p per point. Supported markets at AvaTrade include commodities, bonds, stocks, ETFs, forex, and indices. The minimum deposit requirement for UK residents is £100 and no funding fees apply. AvaTrade supports UK debit and credit cards, which are processed instantly.
| Assets | CFDs and spread betting on stocks, ETFs, bonds, indices, commodities, forex |
| Pricing System | 0% commission on all markets |
| EUR/USD Spread | From 0.9 pips |
| Min Deposit | £100 |
| Day Trading Tools | Tax-free spread betting markets, leverage, tight spreads, support for MT4, MT5, and cTrader |
What We Like
- Connect to MT4, MT5, or cTrader
- Tax-free spread betting markets for UK day traders
- Leverage offered on all markets
8. IG Markets – UK Trading Platform With Access to 18,000 Financial Instruments
Founded in 1974, IG Markets is a respected UK brokerage that now conducts the vast bulk of its business online. The platform is authorized and regulated by the FCA, and UK residents are covered by the FSCS. The minimum deposit to get started with an IG account is £250.
Deposits made via Visa and MasterCard will attract a fee of 1% and 0.5% respectively. Once the account is set up, IG Markets offers access to more than 18,000 financial instruments. This covers a full selection of CFD and spread betting markets on stocks, ETFs, indices, forex, and more.
The aforementioned asset classes can be traded with leverage, within FCA limits. Alternatively, IG Markets also offers UK residents access to real stocks from the UK and international markets. Fees on UK-listed stocks amount to £8 per trade. When placing more than three orders in a 30-day period, this fee is reduced to £3.
| Assets | Real stocks and funds. CFDs/spread betting on stocks, ETFs, bonds, indices, commodities, forex |
| Pricing System | From £3 on real stocks, spread-only on non-stock CFDs and spread betting |
| EUR/USD Spread | From 0.6 pips |
| Min Deposit | £250 |
| Day Trading Tools | Trading signals, alerts, charting tools, MT4, leverage |
What We Like
- More than 18,000 financial instruments
- Real stocks, CFDs, and spread betting
- Huge range of trading tools and features
9. FOREX.com – Specialist Broker for Currency Day Traders
Forex.com is perhaps the best day trading platform in the UK for currency speculators. This platform hosts more than 80 forex pairs across the majors, minors, and exotics. Launched in 2001, Forex.com has a great reputation in this marketplace.
We like that the platform allows traders to buy and sell major pairs like EUR/USD at a spread of just 0.8 pips and without paying any commission. In total, Forex.com supports in the region of 300 markets. On top of currencies, this includes CFDs on indices, stocks, and commodities.
The Forex.com web trading platform is accessible via standard web browsers and comes packed with charting and drawing tools. MT5 is supported too, alongside a native mobile app for iOS and Android. Those wishing to try Forex.com before making a real deposit might consider opening a demo trading account – which is risk-free.
| Assets | CFDs on forex, stocks, commodities, indices |
| Pricing System | 0% commission on all markets |
| EUR/USD Spread | From 0.8 pips |
| Min Deposit | £0 on bank transfers, £100 on debit/credit cards and Paypal |
| Day Trading Tools | 50+ drawing tools, custom charts, economic indicators, leverage, tight spreads |
What We Like
- Free demo account
- Supports MT4 and MT5
- Best day trading forex platform
10. Skilling – User-Friendly Day Trading App With Advanced Analysis Tools
Skilling is one of the best day trading platforms in the UK for those in the market for a top-rated app. The platform offers an iOS and Android app that is not only free to download, but comes with plenty of analysis tools that permit trading on the go.
For instance, the Skilling app offers access to drawing tools and technical indicators, which have been fully optimized for a seamless mobile experience. Positions can be entered at lighting speeds, with an average execution time of 0.05 seconds. All supported markets at Skilling – apart from forex and spot metals, can be traded at 0% commission.
We also like Skilling for its support for MT4 and cTrader. Both of these third-party platforms can be accessed online or via downloadable software. Skilling offers leverage on all supported financial instruments, in line with FCA retail client limits. Margin rates vary depending on market conditions.
| Assets | CFDs on forex, stocks, commodities, indices |
| Pricing System | 0% commission on all markets apart from forex and spot metals. |
| EUR/USD Spread | From 0.5 pips |
| Min Deposit | £100 |
| Day Trading Tools | Mobile app with advanced analysis tools, fast execution times, leverage, MT4 and cTrader |
What We Like
- Best day trading app in the UK for performing technical analysis
- 0% commissions on non-forex and spot metal markets
- Multiple trading platforms to choose from
11. CMC Markets – Trade More Than 330+ Forex Pairs
The final provider to consider from our list of the best day trading platforms in the UK is CMC Markets. This platform offers access to more than 12,000 instruments. UK residents can choose from CFDs and spread betting markets. Supported assets include over 330+ forex pairs, which is huge.
Traders can also access commodities, stocks, ETFs, bonds, indices, and more. All assets on the CMC Markets platform can be traded at 0% commission, apart from stocks. Regarding the latter, the specific commission depends on the respective market and exchange.
For example, trading UK stocks at CMC Markets attract a commission of 0.10%, at a minimum of £9. US stocks, on the other hand, attract a fee of $0.02 for each share traded, at a minimum of $10. CMC Markets supports several platforms, which are inclusive of MT4 and a mobile app for iOS and Android. There is also a web trading platform that can be accessed via browsers.
| Assets | CFDs and spread betting on forex, stocks, commodities, indices, bonds, ETFs |
| Pricing System | 0% commission on all markets apart from stocks (pricing depends on the exchange) |
| EUR/USD Spread | From 0.7 pips |
| Min Deposit | No minimum deposit stated |
| Day Trading Tools | Market insights, high-level tools, fast execution speeds, technical indicators, MT4 |
What We Like
- Buy and sell more 330+ forex pairs
- Forex spreads start from 0.7 pips
- Heavily regulated
Top UK Day Trading Brokers Compared
The table below compares the best day trading platforms in the UK for supported assets, fees, minimum deposits, and core tools.
| Platform | Assets | Pricing System | Min Deposit | Day Trading Tools |
| Capital.com | CFDs and spread betting. Stocks, ETFs, commodities, indices | 0% commission on all markets | £20 | Charts, MT4, leverage, long/short orders, market insights |
| eToro | Real stocks, ETFs, and crypto. CFDs on forex, commodities, indices | 0% commission on real stocks and ETFs. 1% on crypto. Spread-only on other assets | $10 (£8) | ProCharts, market sentiment bars, technical indicators, leverage, long/short orders |
| Libertex | Real stocks. CFDs on forex, commodities, indices, options, ETFs | 0% commission on real stocks. From 0% on CFDs | £10 | MT4/MT5, advanced charting tools, demo account, leverage |
| XTB | CFDs on stocks, ETFs, indices, commodities, forex | 0% commission on all markets | None | xStation 5 platform, fast execution speeds, leverage, drawing tools |
| Pepperstone | CFDs on stocks, ETFs, indices, commodities, forex | $3.50 on raw account, 0% on standard account | None | Raw spread accounts, leverage, charting tools, technical indicators, market insights |
| Avatrade | CFDs and spread betting on stocks, ETFs, bonds, indices, commodities, forex | 0% commission on all markets | £100 | Tax-free spread betting markets, leverage, tight spreads, support for MT4, MT5, and cTrader |
| IG | Real stocks and funds. CFDs/spread betting on stocks, ETFs, bonds, indices, commodities, forex | From £3 on real stocks, spread-only on non-stock CFDs and spread betting | £250 | Trading signals, alerts, charting tools, MT4, leverage |
| Forex.com | CFDs on forex, stocks, commodities, indices | 0% commission on all markets | From £0 | 50+ drawing tools, custom charts, economic indicators, leverage, tight spreads |
| Skilling | CFDs on forex, stocks, commodities, indices | 0% commission on all markets | £100 | Mobile app with advanced analysis tools, fast execution times, leverage, MT4 and cTrader |
| CMC Markets | CFDs and spread betting on forex, stocks, commodities, indices, bonds, ETFs | 0% commission on all markets apart from stocks (pricing depends on the exchange) | None | Market insights, high-level tools, fast execution speeds, technical indicators, MT4 |
How we Select the Best UK Day Trading Platforms
UK residents have access to dozens of trading platforms – many of which offer lots of supported markets and a strong regulatory framework.
With that said, no two trading platforms are the same, so investors will need to research the provider in question before opening an account.
In the sections below, we explain how we rank and compare the best day trading platforms in the UK.
Regulation
The best day trading platforms in the UK are not only authorized and regulated by the FCA, but other tier-one financial bodies. This ensures that UK residents are well protected in terms of safe trading conditions.
For example, Capital.com and eToro are also regulated by ASIC (Australia) and CySEC (Cyprus). Moreover, investors at eToro are covered by the UK’s FSCS protection. This covers UK residents up to £85,000 in the event of a brokerage collapse.
Range of Assets
One of the best things about day trading is that this strategy can be implemented on virtually any asset class. And, therefore, the best day trading platforms in the UK offer a wide variety of markets.
For example, Capital.com and eToro both offer access to thousands of stocks and ETFs, alongside forex, commodities, and indices.
It is also important to consider the specific financial instrument that the platform offers. For instance, both CFDs and spread betting markets are supported by Capital.com, which allows UK residents to trade without taking ownership of the underlying asset.
Those wishing to invest in assets in the traditional sense might wish to consider eToro, which offers real stocks, ETFs, and commodities.
Spreads
Spreads are another important consideration to make when searching for the best day trading platform in the UK. This is an indirect fee that is calculated by taking the difference between the buy and sell price of an asset.
When trading forex, for instance, the spread is determined in pips. Capital.com offers a minimum spread of 0.6 pips on EUR/USD, which is very competitive.
Ultimately, day traders are advised to select a platform that offers tight spreads across their preferred marketplace.
Fees
In addition to spreads, other fees might be applicable when choosing a UK day trading platform. At the forefront of this is the trading commission, which is charged on each buy and sell position.
The good news is that the best day trading platforms in the UK – which includes both eToro and Capital.com, operate on a 0% commission model on stocks and ETFs. The latter also offers 0% commission markets on indices, commodities, and forex.
Non-trading fees may also come into play, such as transaction charges on deposits and withdrawals. Account fees, which are charged simply for using the broker, are not applicable to any of the platforms discussed today.
| Platform | Trading Commission | Account Fee | Deposit Fee |
| Capital.com | 0% commission on all markets | None | None |
| eToro | 0% commission on real stocks and ETFs. 1% on crypto. Spread-only on other assets | None | 0.50% |
| Libertex | 0% commission on real stocks. From 0% on CFDs | None | None |
| XTB | 0% commission on all markets | None | Up to 2% on e-wallets |
| Pepperstone | $3.50 on raw account, 0% on standard account | None | None |
| Avatrade | 0% commission on all markets | None | None |
| IG | From £3 on real stocks, spread-only on non-stock CFDs and spread betting | None | Visa (1%), MasterCard (0.5%) |
| Forex.com | 0% commission on all markets | None | None |
| Skilling | 0% commission on all markets | None | None |
| CMC Markets | 0% commission on all markets apart from stocks (pricing depends on the exchange) | None | None |
Do note that fees will often vary depending on the account type being opened, as some platforms offer multiple options to UK residents.
Tools and Analysis
Day trading is a strategy that requires a somewhat intimate knowledge of technical analysis. This means that the trader will need to have a firm grasp of how to read real-time pricing charts and deploy technical indicators.
To facilitate the analysis process, the best day trading platforms in the UK offer a wide variety of tools. With that said, beginners will likely appreciate the eToro Copy Trading feature – should they not have any experience in performing technical analysis.
Put simply, this tool enables eToro users to copy the positions of a successful day trader. As such, anything that the day trader speculates on will be replicated in the eToro user’s portfolio.
Minimum Deposit
Traders should also check to see what the minimum deposit is at their chosen day trading platform. Some platforms require a high minimum deposit, which will not be suitable for beginners.
For example, IG requires at least £250 to open an account in the UK. Capital.com, on the other hand, requires just £20, albeit, this is on the proviso that a deposit is made via a debit/credit card or e-wallet (bank transfers require £250).
Demo Account
Before making a deposit, it is worth utilizing a demo account feature – if this is offered by the platform in question. The best day trading platforms in the UK offer demo accounts that mirror the financial markets like-for-like.
Instead of trading with real money, positions will be entered with paper funds. This is a great risk-free way to approach day trading for the first time.
Mobile App
While most day traders will utilize a desktop device to place orders, having access to the markets on the move is crucial. And, the best way to achieve this is via a day trading app.
All of the day trading platforms discussed on this page offer a mobile app for iOS and Android.
The best UK day trading app that we came across is offered by Capital.com. The reason for this is that the app offers access to the day trading markets at 0% commission.
We also found that eToro offers one of the best UK day trading apps for beginners, due to its simple user interface.
Payment Methods
Before having access to the financial markets, traders will need to make deposits into the trading account.
This process is simple when using the likes of eToro and Capital.com, as both platforms support UK debit/credit cards and e-wallets.
Customer Service
Having access to a customer support agent around the clock will allow traders to seek assistance whenever a question or concern arises.
Live chat is the preferred option here, as this offers customer service in real-time without needing to pick up the telephone.
Day Trading Explained
Day trading refers to a specific investment strategy that focuses on short-term price movements. This strategy can be applied to pretty much any asset class – including but not limited to stocks, crypto, indices, and commodities.
Unlike long-term investment strategies, day traders will only hold onto a position for a matter of hours. In some cases, trades might only remain open for a number of minutes.
Either way, the general rule of thumb is that a position must be closed by the end of the trading day. This means that profit targets on a day trading position will often be small.
Moreover, seasoned traders will typically enter multiple positions throughout the day. This means that while margins are tight, it is hoped that several profitable positions will be achieved on a day-to-day basis.
In order to be successful at day trading, investors will need to have an understanding of how to read pricing charts. This can be achieved by deploying technical indicators such as the RSI and MACD.
Success can and will also be determined by the platform being used. That is to say, the best day trading platforms in the UK offer investors a plethora of markets at low fees, alongside competitive spreads.
Day Trading vs Swing Trading
As noted above, day trading strategies dictate that the investor should never keep a position open past standard market hours.
This is in stark contrast to how swing trading works.
- In fact, swing trading affords the investor much more flexibility in terms of how long a position should be kept open.
- This can be anywhere from a few hours to several weeks.
- The main concept of swing trading is that the investor will look for short-to-medium trends.
Day trading, on the other hand, focuses on intraday price movements. Therefore, forex day trading strategies typically crave volatile market conditions.
Note: Those exploring the difference between day trading and CFD trading should know that both terms refer to separate metrics. While day trading is a strategy, CFDs refer to a specific financial instrument.
What Assets Can You Day Trade in the UK?
The best day trading platforms in the UK that we discussed today typically offer a wide range of assets.
This is often incisive of:
- UK and international stocks
- ETFs
- Indices
- Cryptocurrencies
- Forex
- Commodities
However, it is crucial that UK traders understand the financial product that they are speculating on. For example, many of the day trading platforms discussed today specialize in CFDs and/or spread betting.
Both of these financial products are represented by derivatives, which means that traders will not own the asset being traded. Instead, CFDs and spread betting products track the underlying asset’s market price in real-time.
Trading CFDs and spread betting products allows UK residents to access leverage and short-selling capabilities. With that said, UK retail clients can no longer access cryptocurrency derivatives, as per FCA regulations.
On the other hand, some day trading platforms offer direct ownership of assets. For example, eToro allows UK residents to invest in traditional stocks, ETFs, and even cryptocurrencies like Bitcoin and Ethereum.
Benefits of Day Trading
Day trading won’t suit all investor types.
Nonetheless, in the sections below, we explore the core benefits of this popular trading strategy.
Low Barrier to Entry
Getting started with a day trading strategy could not be easier. In fact, the best day trading platforms in the UK offer an account opening process that takes just five minutes from start to finish.
Furthermore, many of the platforms discussed today allow traders to get started with a very small first-time deposit. For example, at Capital.com, UK investors can open a day trading account with just £20.
Leveraged Day Trading Markets
The best day trading platforms in the UK allow users to enter positions with leverage. This trading tool will amplify the value of a position by a certain ratio.
In the UK, retail clients can trade major forex pairs with leverage of up to 1:30. This means that for every £1,000 staked, a position of £30,000 can be opened.
Ultimately, leverage gives traders on a budget the opportunity to access a much larger amount of capital than the account balance permits.
Low-Risk Entry and Exit Positions
While all forms of investing should be defined as risky, day trading reduces this exposure. The reason for this is that when conducted corrected, experienced day traders will set up sensible entry and exit positions.
This determines the price that the trade should be entered, as well as closed. Regarding the latter, sensible stop-loss orders ensure that the day trader can only lose a certain amount on a position.
For example, if the stop-loss is set at 2%, the position will not result in a loss above this figure.
Day Trading Strategies
Those that are completely new to day trading might consider one of the strategies discussed below:
Demo Account Feature
First, before making a deposit and day trading with real money, beginners should consider starting off with a demo account. For example, Capital.com allows new clients to access live trading conditions with a pre-loaded balance of $10,000.
In other words, newbies can practice entering positions without risking any capital. Demo accounts are also great for learning how a specific platform works, alongside the ability to get to grips with real-time pricing charts and technical indicators.
Limit Orders
Day traders will look to enter and exit a position with clear targets in mind. At the forefront of this is creating a position with a limit order.
For those unaware, limit orders allow day traders to specify the exact price that the position should be executed.
For example, suppose that GPB/USD is trading at 1.3209. The day trader might wish to go long on this pair if the price hits 1.3150. Only when the specified price is triggered will the limit order be executed.
Stick With Liquid Markets
Beginners should also consider sticking with liquid markets when entering the day trading space for the very first time.
These are markets that attract significant amounts of trading volume, which in turn, often means that spreads are competitive and volatility levels are lower than the market average.
Some of the most liquid markets in the day trading space include major forex pairs, blue-chip stocks, and gold.
Learn Technical Analysis
Make no mistake about it – the most successful day traders in this marketplace have a strong grasp of technical analysis. This is a strategy that involves reading charts with the view of predicting future price movements.
Technical analysis also requires an understanding of economic indicators – such as the RSI, exponential moving averages, and the MACD.
While having an intimate understanding of technical analysis can take time to master, it is a fundamental requirement of day trading.
Use a Copy Trading Tool
Those without the required time to learn technical analysis might instead consider a Copy Trading service. As we mentioned earlier, this tool is offered by the FCA-regulated broker eToro.
After choosing a trader to copy, all future day trading positions will be mirrored in the eToro user’s portfolio. This will allow beginners to actively day trade the financial markets without needing to have any experience.
Tax on Day Trading UK
In the vast majority of cases, UK day traders will need to pay tax on any capital gains made. This is a tax that is implemented on trading profits.
- However, it is important to note that UK residents get a capital gains allowance of £12,300 in the 2022/23 tax year.
- In other words, capital gains of less than £12,300 will not be liable for tax.
Another important point to note about UK day trading tax is that spread betting alleviates any liabilities.
More specifically, when opting for a spread betting platform like Capital.com, traders will not be required to pay any tax on profits. This isn’t, however, the case with CFDs, which do attract capital gains tax.
- Finally, when exploring how day trading UK tax works, consider stamp duty.
- This is charged when investors buy real shares listed on the London Stock Exchange and the tax amounts to 0.5% of the position.
Read More: Those looking to trade digital assets like Bitcoin should consider reading out guide on crypto tax in the UK.
Best Forex Signals UK
To begin a day trading strategy without any prior knowledge of technical analysis can be a risky endeavor. Therefore, UK residents might consider a forex signals service like Learn2Trade to help fill this gap in experience.
In a nutshell, Learn2Trade signals are forex trading suggestions that have been hand-crafted in real-time by seasoned currency investors.
The signal – which will be sent to members via the Telegram app, will include the following information:
- Forex pair (e.g. GBP/USD)
- Buy or sell order
- Limit order price
- Stop-loss order price
- Take-profit order price
Ultimately, as the in-house trading team at Learn2Trade has already performed the necessary market research, beginners can actively trade forex without having to do any of the legwork.
Those interested in utilizing Learn2Trade will receive up to three forex signals every day. Prices start at £40 per month on a flexible premium plan, and less on longer-term packages.
Either way, all Learn2Trade customers signing up for the first time have access to a 30-day moneyback guarantee.
How to Day Trade in the UK
This beginner’s guide will now explain how to start day trading the financial markets from the comfort of home.
Our step-by-step tutorial will show how to register with the UK’s leading day trading platform Capital.com, make a deposit, and place a buy/sell order.
Step 1: Open a Capital.com Trading Account
Visit the Capital.com website, click on ‘Trade Now’, and complete the sign-up form that appears.
This initially requires an email address and a password.
After clicking ‘Continue’, enter some personal information and contact details when prompted.
Next, Capital.com will ask for a copy of a driver’s license or passport, as per FCA regulations on anti-money laundering.
Step 2: Deposit Funds
UK traders can get started with a verified Capital.com account with just £20 Choose from a UK debit/credit card or a supported e-wallet.
Bank transfers are accepted by Capital.com too but require a minimum deposit of £250. No fees are charged by Capital.com on deposits or withdrawals.
Step 3: Search Day Trading Market
At the top of the page, click on the ‘Menu’ button, followed by ‘Markets’.
This will then display the many thousands of financial markets supported by Capital.com.
Users can also search for the specific market that they wish to trade. For example, in the image above, we are searching for the forex pair EUR/USD.
Step 4: Start Day Trading
The final step is to place an order.
Users will need to choose from a buy or sell order, which is dependent on whether an increase or decrease in the asset price is predicted.
Next, select a limit order and choose the price that the position should be executed by Capital.com. Stop-loss and take-profit orders can also be applied, as can leverage.
Finally, upon confirming the order, Capital.com will execute the trade on a commission-free basis.
Conclusion
The best day trading platforms in the UK offer a plethora of asset classes at low fees and tight spreads. We found that top-rated providers like Capital.com alleviate trading commissions in their entirety across thousands of markets.
Moreover, Capital.com requires a minimum deposit of just £20 and UK traders can get started with a free demo account before risking real money.
Your capital is at risk. 78.91% of retail investor accounts lose money when trading CFDs with this provider
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