Best UK Investing Apps Compared

eToro is a multi-asset trading platform with a mobile app much loved by investors in the UK and around the world.

The major benefits of trading with eToro app include zero commissions on most investments, and the social aspect. Social features like copy trading and a news feed can make the app feel similar to social media than an online brokerage.

If you’re putting these smart features into an investment app, you need to make sure everything looks good and works smoothly. And the eToro app ticks those boxes.

You can trade most assets on the app with zero commissions. But, you may have to pay FX (foreign exchange) fees because the base currency is set to US dollars. And unlike some other trading apps, you have to pay withdrawal fees ($5). So keep an eye out for those.

Freetrade only lets you trade stocks and ETFs (exchange-traded funds) from the UK, US, and Europe, but it’s still an excellent investing app.

If you don’t want to trade lots of assets from every corner of the world, the Freetrade app is one of the best online brokers to use, especially for beginners. The app interface is really straightforward and easier to use than most apps (from any industry).

There’s no commission when trading stocks, but you will pay an FX fee for international stocks. The app itself is a breeze to use, and lots of new features are always being added, like stock stats and analyst ratings. Although there are no copy trading features, Freetrade does offer a pretty lively forum-based community.

A ‘Basic’ account on the Freetrade app is free. But if you want to make full use of its investing features and the entire 6,000+ stock universe, you’ll need to upgrade. Bumping up to either the ‘Standard’ (£5.99/month) or the ‘Plus’ (£11.99/month) plan.

The Standard account also includes a stocks and shares ISA, which is great for tax efficiency. And the Plus gets you an ISA plus a SIPP (self-invested personal pension), allowing you to manage all your investments in one spot.

It’s super easy to buy and sell stocks using the Freetrade app. And if you’re new to investing, this is definitely a useful place to start your journey.

Trading212 got some bad press in the past due to its focus on CFDs and forex trading. After a reshuffle of priorities, its revamped ‘invest’ account is now a popular choice in the UK.

The platform has all the essential features you’d expect from a top investing app. Trading212 also has some extra elements that are helpful to both traders and investors.

You can engage in community forums and create or copy ‘pies’ (which is what Trading212 call portfolios of up to 50 stocks). Unlike some other UK investing apps, Trading212 also lets you use a stocks and shares ISA for free.

On top of all this, the Trading212 investing app gets the basics right. It has an easy-to-use interface and commission-free trading for most investments. You can buy fractional shares and trade stocks with as little as £1, which is great if you only have a small amount to invest.

The types of assets are somewhat limiting (stocks and ETFs). But there’s a whopping choice of over 12,000 options to choose from. Plenty of UK investors love using the Trading212 investing app. It has a 4.6 star rating on the App Store, so it’s definitely a popular choice amongst iOS users.

This is quite a new investing app, only launching at the end of 2022, but it’s already gathering steam.

Lightyear is most similar to Freetrade in its approach. It offers free trading on ETFs and has low commissions for other stocks and shares. At the moment the fees look like this:

• US stocks - 0.1% (up to $1 max)

• UK shares - £1

• EU shares - €1

• FX fee - 0.35%

The investments available with Lightyear may be more limiting than you can find elsewhere, but the investing app itself is a joy to use.

When you look at stocks on the app, you can scroll down and see plenty of data and insights. This includes things like analyst ratings, price targets, financials, and stock-specific news.

As an added bonus, you get paid a pretty competitive interest for holding USD, GBP, or EUR on the Lightyear investing app. Right now, you can’t use a stocks and shares ISA, but Lightyear is constantly adding more investments and features to its top mobile trading app.

InvestEngine makes it onto this list of the best investing apps because you get two ways to use its mobile platform.

You can opt to use it as a robo-advisor, or a DIY platform to build your own portfolio - so it’s the best of both worlds.

Along with having a well-designed app, InvestEngine is extremely cheap. There are no fees for its DIY service and just a 0.25% management fee for using the automated managed portfolios.

Another major bonus is that you can use a stocks and shares ISA for free with InvestEngine. You don’t need to pay anything extra to set up or hold your investments in an ISA, meaning you get to keep more of your profit.

The only drawback with InvestEngine is that you can only invest in ETFs. So this may not be the best choice if you want access to lots of stocks and asset classes.

But if you’re a beginner investor, or want to keep things simple with passive ETF investing, it’s hard to beat InvestEngine’s low-cost investing app.

Some investing apps will have higher minimum deposits than others. For example, you need $50 with eToro but just £1 with Trading212.

Also, if you’re only investing small sums, it makes more sense to use a cheap investing app like Freetrade or Lightyear that comes with low fees.

Otherwise, the cost you’ll pay to buy or sell shares could be more than the profit you end up making on your trades.

It’s also worth keeping an eye out on deals and lower commissions for active traders, IG and Hargreaves Lansdown for example. Or sometimes platforms (e.g Barclays and Halifax) offer cheaper fees if you set up a regular investment.

Ideally, you’ll want an app that’s easy to use when you interact with it. A simple and clean interface is much more enjoyable, especially if you’re a beginner investor.

Yet sometimes apps need to be slightly complex. Especially if the trading platform offers things like charting and trading tools for those with more experience. This tends to be the case with apps like Fineco, IG, and Saxo.

If you want all the bells and whistles, you might have to compromise on usability. But if you’re not looking to make complex trades on the mobile app, straightforward is often best.

An important choice will be deciding whether to use a DIY approach and select all your investments. Or, use a robo-advisor that automates the process for you.

Each has its own benefits and drawbacks. You don’t have to lock yourself in forever either. You may want to start with an automated robo-advisor and then move onto a DIY platform once you learn the ropes and feel more comfortable investing.

The third option is that some investing apps let you do a bit of both. You can pick your own investments, or use ready-made portfolios that are actively managed by experts.

Take a look at what types of investments are available on the app. If you’re just looking to trade stocks and shares on your mobile, most platforms should have you covered.

But, you may need a more advanced investing app if you want to access more obscure assets. Or, trade things like:

• Mutual funds

• Commodities

• Futures

• Options

• Niche ETFs (exchange-traded funds), investment trusts, or REITs (real estate investment trusts)

The fees and charges can make a big difference to your success when investing.

Usually, cheaper trading platforms are worthwhile. Yet it can depend on what you’re trading. For example, if you want to trade international stocks on a mobile app, you may be better off with a platform that has a low FX fee.

Even if you have to pay a small commission for trading on the app, the FX fee can make a big difference. A broker like DEGIRO (0.25%) can potentially lead to lower costs than Freetrade (0.39% - 0.99%) or eToro (0.5%).

Ideally, you want to use an FX fee of below 1% if you plan on buying overseas shares.

To find a suitable app to access stock markets, it’s important you pick an investing app with fees that match the way you plan on trading and investing.

This is a big one when it comes to finding the best investing app to use. Remember, not everyone using the trading apps will be looking for the same things as you.

Yet, app reviews and ratings are a great way to get an idea about the platform. Along with major sites like Trustpilot, it’s useful to check out the app on both the App Store and the Google Play Store.

You’ll be able to get a decent overview from the reviews. And see any significant benefits or concerns that UK investors have with the investment app.

Typically, over 4 stars is pretty good (but double-check how many people have made reviews).

Many of the trading apps are relatively new companies and will offer free stocks, or cash bonuses for signing up.

You shouldn’t join the investment app with the best deal, but it’s always worth a look to see what’s on offer.

For most free stock deals, there are only a few hoops to jump through. Often, you just need to set up and fund your account. Then wait for your free bonus to clear.

These can change frequently. But, examples of UK investing apps that have sign-up deals and referral promotions (or did so previously) includes:

• Freetrade

• InvestEngine

• Stake

• Wealthyhood

• Trading212

It’s often worth looking into the reputation of any investment company, or seeing who owns the firm.

For example, Nutmeg is owned by J.P. Morgan and Wealthify is owned by Aviva. Some investing apps will be independent, but others will be part of an organisation.

You should get an idea about the investment app you’re planning to use and make sure you’re happy investing your money with that brokerage.