eToro — Best for Beginners Who Want Everything in One Place

4.5
3.8
3.8
Trustpilot Score: 4.2 · Checked February 2026

eToro is the one I point friends toward when they're just getting started. The interface is genuinely beginner-friendly — not dumbed down, just well designed. You get stocks, ETFs, crypto, and CFDs all in one account, plus the copy trading feature that lets you mirror experienced investors' portfolios.

The minimum deposit is $50 (around £40), which keeps the barrier low. They did introduce a $1–$2 commission on stock trades in 2025, which ended their fully commission-free era. It's still cheap, but worth knowing about.

eToro web platform dashboard showing watchlist with NVDA, TSLA and copy trading section including popular investors and risk scores
eToro web platform watchlist and copy trading dashboard view, displaying stocks including NVDA and TSLA alongside top traders available to copy, captured during UK testing in 2026.

Pros

  • Copy Trading: You can automatically mirror the moves of experienced investors.
  • Social Investing: Features a social media-style feed to discuss market news with other users.
  • All-in-One Asset Range: Offers stocks, ETFs, and cryptocurrency in one app.
  • Beginner Friendly: The interface is highly intuitive and easy to set up.

Cons

  • New Fees: No longer fully commission-free; charges a $1–$2 commission on stock trades.
  • High FX Costs: Charges a ~0.5% conversion fee on every GBP deposit.
  • Withdrawal Fees: There is a flat $5 fee every time you take money out.

My Experience with eToro

I opened my eToro account in March 2022 and deposited £200 to start. Verification took about 15 minutes — they ask for photo ID and a utility bill, standard stuff. The deposit cleared same day via bank transfer.

What actually impressed me was the copy trading. I allocated £500 to mirror a trader focused on FTSE 100 dividend stocks, and over six months the portfolio tracked his moves accurately. The social feed is noisy — lots of hype posts — but you can filter it.

The FX conversion is the real cost here. Every GBP deposit gets converted to USD at roughly 0.5%, which adds up. If you're depositing £1,000, you're losing about £5 upfront before you've traded anything.

How Does eToro Compare to Trading 212?

FeatureeToroTrading 212
Stock commission$1–$2£0
Copy tradingYes — full featureNo
Crypto100+ coins (direct ownership)Crypto ETNs only (UK)
ISAYes (0.35% + £3.95/trade)Yes (free)
Minimum deposit$50£1
FX fee~0.5%0.15%

IG — Best Established Multi-Asset Platform (Especially for ISAs)

4.4
4.2
4.5
Trustpilot Score: 3.9 · Checked February 2026

IG has been around since 1974. That's over 50 years. When people ask me for a "serious" alternative to Trading 212, this is where I point them. It's the most comprehensive platform on this list — stocks, ETFs, bonds, options, spread betting, CFDs, and a genuinely flexible Stocks & Shares ISA.

The big news is that IG dropped commissions to £0 in January 2026 and scrapped their £24/quarter custody fee at the same time. That removes the two biggest reasons people used to avoid them.

IG trading platform showing US Tech 100 candlestick chart with indices watchlist and deal ticket panel.
Our look at IG’s charting interface, highlighting market watchlists, detailed charts, and integrated deal ticket.

Pros

  • Low Cost: Zero commission and zero quarterly custody fees (as of January 2026).
  • Flexible ISA: Allows you to withdraw and replace money in the same tax year without affecting your £20,000 allowance.
  • Massive Selection: Access to over 13,000 assets, including bonds and options which Trading 212 lacks.
  • Trusted History: Over 50 years in business and listed on the FTSE 250.

Cons

  • Steep Learning Curve: The main platform and mobile app are complex and can overwhelm beginners.
  • Higher FX Fees: At 0.7%, their international trade conversion fee is significantly higher than Trading 212's 0.15%.
  • No Fractional Shares: You must buy at least one whole share of a company.

Why I Rate IG for ISAs

I transferred my ISA from another provider to IG in September 2025. The whole process took 18 business days — slightly longer than the "15 day" estimate they give you, but not unusually slow for an ISA transfer.

The flexible ISA is the standout. Flexible ISAs let you withdraw and replace money in the same tax year without it counting toward your annual allowance. If you withdraw £2,000, you can put that £2,000 back within the same tax year without it counting toward your £20,000 allowance again. Trading 212's ISA doesn't offer this, and it's a genuine advantage if you might need to access cash temporarily.

The platform itself is more complex than Trading 212. There's a learning curve. The mobile app took me a couple of sessions to feel comfortable with — it's powerful but not as immediately intuitive as Trading 212 or eToro. Once you know where things are, though, it's excellent.

How Does IG Compare to Trading 212?

FeatureIGTrading 212
Stock commission£0 (from Jan 2026)£0
Flexible ISAYesNo
Asset classesStocks, ETFs, bonds, options, CFDs, spread betsStocks, ETFs, CFDs
Custody fee£0 (removed Jan 2026)£0
Track record50+ years (est. 1974)~10 years (est. 2012)
FX fee0.7%0.15%
Visit IG Read Full Review

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Capital.com — Best for Leverage Trading & CFDs

4.2
3.8
4.4
Trustpilot Score: 4.6 · Checked February 2026

Capital.com is a different beast to the others on this list. It's a pure CFD broker — you don't own the underlying assets. What you get instead is leverage, the ability to go short, and access to over 3,000 markets including forex, indices, commodities, stocks, and crypto CFDs.

If you're looking for what Trading 212's CFD side does but with a better app and tighter spreads, this is it.

Capital.com trading interface showing alert creation icons beside instruments, demonstrating hands-on use of platform alert tools within the market watch.
Capital.com desktop trading platform displaying US share watchlist (including Ford Motor Co and Visa) with live buy/sell quotes and an active candlestick chart, captured during UK platform testing in 2026.

Pros

  • Tight Spreads: Often offers lower costs for CFD trading than Trading 212 (e.g., EUR/USD from 0.6 pips).
  • Superior App: Features high-speed execution, AI-powered risk alerts, and built-in TradingView charts.
  • Low Entry: Start trading with as little as £20 and enjoy fee-free withdrawals.
  • Large Market Access: Over 3,000 markets available for short-term leverage trading.

Cons

  • CFDs Only: You do not own any underlying stocks or assets; you are only betting on price movement.
  • No Long-Term Accounts: Does not offer ISAs, SIPPs, or standard "buy-and-hold" investment accounts.
  • High Risk: Leverage can lead to rapid losses; not suitable for passive or beginner investors.

What the App Actually Feels Like

I started using Capital.com in November 2024, initially just to compare their EUR/USD spreads against Trading 212's CFD platform. The spreads were consistently tighter — I was seeing 0.6–0.8 pips on EUR/USD during London session hours versus 0.9–1.2 on Trading 212.

The app is genuinely one of the best I've used. Chart loading is fast, order execution felt instant on my tests, and the AI-powered risk alerts are surprisingly useful. It flagged when I was overexposed to tech-sector CFDs, which I appreciated.

The minimum deposit is £20, and there are no withdrawal fees. That's refreshing compared to eToro's $5 charge. The catch is that this is CFDs only — no ISA, no direct share ownership, no long-term investing.

How Does Capital.com Compare to Trading 212?

FeatureCapital.comTrading 212 (CFD)
CFD commission£0 (spread-based)£0 (spread-based)
EUR/USD typical spreadFrom 0.6 pipsFrom 0.9 pips
CFD markets3,000+2,000+
Min deposit£20£1
AI risk alertsYesNo
Withdrawal feesFreeFree
Visit Capital.com Read Full Review

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.

Bitpanda — Best for Crypto Investors

4.3
4
3.7
Trustpilot Score: 3.9 · Checked February 2026

If crypto is your main focus, Bitpanda is the alternative that makes the most sense. It offers over 600 cryptocurrencies — plus staking, crypto indices, and fractional purchases from as little as €1.

It's an Austrian company that entered the UK market with FCA registration in 2022 (Bitpanda Custody Ltd, FRN 928556). Important note for UK users: Bitpanda's stocks and ETFs are not available to UK residents. UK users can only access crypto and precious metals on the platform.

Bitpanda web platform Bitcoin (BTC) dashboard showing price £51,034.82 GBP with 24-hour change -1.44%
Bitpanda web platform view of Bitcoin (BTC) priced at £51,034.82 GBP, down 1.44% over 24 hours, captured during February 2026 platform testing.

Pros

  • Huge Crypto Choice: Offers over 600 cryptocurrencies, far exceeding Trading 212's limited crypto ETNs.
  • Staking Rewards: Earn passive income on your crypto holdings with no lock-up periods.
  • Crypto Indices: Invest in the "top 5" or "top 10" cryptos with a single click, similar to an ETF.
  • Free Transfers: No fees for depositing or withdrawing cash (fiat) via bank transfer.

Cons

  • Limited for UK Users: UK residents can only trade crypto and precious metals; stocks and ETFs are restricted.
  • Higher Spreads: Crypto spreads range from 0.99% to 2.49%, which can be expensive for frequent traders.
  • No FSCS Protection: Unlike stocks, crypto assets are not covered by the £85,000 government protection scheme.

My Crypto Testing

I set up a Bitpanda account in January 2025 with a £300 deposit. Verification was quick — about 10 minutes with a passport scan. The deposit via bank transfer cleared overnight.

The crypto selection is the obvious draw. I tested buying positions in five mid-cap altcoins that weren't available elsewhere, and all executed cleanly. The spreads are the cost here though — 0.99% on Bitcoin, scaling up to 2.49% on smaller altcoins. That's not cheap, but it's transparent and competitive for the breadth of selection.

Staking was easy to set up. I staked some ETH and was earning rewards within 48 hours, no lock-up period required. The yields vary, but it's a feature that adds genuine value for long-term crypto holders.

How Does Bitpanda Compare to Trading 212?

FeatureBitpandaTrading 212
Crypto access (UK)600+ coins (direct ownership)Crypto ETNs only
StakingYes (multiple coins)No
Crypto indicesYes (BCI Top 5, 10, 25)No
Bitcoin spread0.99%N/A (ETN pricing)
Fiat deposit/withdrawalFreeFree
Fractional cryptoYes (from €1)Via ETNs only
Visit Bitpanda Read Full Review

DON’T INVEST UNLESS YOU’RE PREPARED TO LOSE ALL THE MONEY YOU INVEST. THIS IS A HIGH-RISK INVESTMENT AND YOU SHOULD NOT EXPECT TO BE PROTECTED IF SOMETHING GOES WRONG.

Why Would You Switch from Trading 212?

Trading 212 is good at what it does — commission-free stocks, a clean app, and fractional shares. I still use it. But after testing the alternatives side by side, there are a few things it doesn't do well.

There's no leverage trading beyond basic CFDs. The ISA is solid but rigid compared to IG's flexible ISA. Direct cryptocurrency trading isn't available to UK users — you're limited to crypto ETNs. And if you want copy trading or social features, they're simply not there.

I'm not saying you should ditch Trading 212. But if any of those gaps matter to you, one of the four platforms below will fill them. If you're still on the fence about Trading 212 itself, our full Trading 212 review covers everything in detail.

How Do You Switch from Trading 212?

Switching isn't complicated, but it does depend on the account type. You can transfer ISAs between providers without losing your tax-free status. Here's how I'd approach it.

Step Action Detail
1Open the new account firstSign up with the alternative broker and complete verification before touching Trading 212
2ISA transfer (if applicable)Initiate the transfer from the receiving broker, not Trading 212. This preserves your ISA wrapper. Took me around 18 business days when I moved mine to IG
3Sell & withdraw (Invest/GIA)For non-ISA accounts, sell your positions, withdraw the cash, and deposit into the new broker. Withdrawals from Trading 212 usually land within 1–3 business days
4Check your tax positionSelling triggers capital gains events. If you're within the £3,000 CGT allowance (2025/26), you won't owe anything

Note: From April 2024, you can open multiple ISAs of the same type in a single tax year, but the £20,000 combined limit still applies. Time any switch around the tax year if you've already contributed.

Are These Platforms Safe and Regulated?

Every platform on this list is regulated by the Financial Conduct Authority (FCA). I verified each FRN number directly on the FCA Register in March 2026.

All four alternatives — plus Trading 212 itself — are covered by the Financial Services Compensation Scheme up to £85,000 per person per firm for investments. That means if the broker fails and can't return your assets, FSCS covers you up to that limit. The £120,000 figure you might have seen elsewhere applies to deposit protection for banks and building societies, raised in December 2025 — it's a different scheme.

One important caveat: crypto assets are not covered by FSCS regardless of which platform you use. This applies to Bitpanda, eToro's crypto holdings, and any other broker. Keep this in mind when deciding how much to allocate to crypto. If you're looking specifically for regulated crypto options, our best UK crypto exchanges guide covers the landscape.

eToro Bitcoin trading interface, February 2026
eToro's Bitcoin trading screen — February 2026

Final Thoughts

Trading 212 is still one of the best investment apps in the UK — I'm not about to close my account. But it can't do everything, and pretending otherwise doesn't help anyone.

If you're a beginner wanting one app that covers everything, eToro is your best bet. If you want an established platform with a flexible ISA and now-free commissions, IG is hard to beat. If leverage trading is your thing, Capital.com has the best app and tightest spreads I've tested. And if crypto is your priority, Bitpanda gives you a selection that dwarfs everyone else.

Pick the one that matches what you actually need — not what's trending on Reddit.

FAQs

Is Trading 212 actually bad?

No. I still use it. It's excellent for commission-free stock and ETF investing, especially through the ISA. The alternatives on this list aren't "better" across the board — they're better for specific use cases that Trading 212 doesn't cover well, like copy trading, flexible ISAs, leverage, or deep crypto.

Can I transfer my Trading 212 ISA to another broker?

Yes. You initiate the transfer from the receiving broker's side, not Trading 212's. Expect it to take 15–20 business days. Your ISA allowance is preserved during the transfer. I'd recommend timing it so you're not locked out of both platforms at a critical moment.

Which is cheapest for UK stock trading?

Trading 212 and IG are now both £0 commission on UK stocks. The difference comes down to FX fees if you trade international stocks: Trading 212 charges 0.15% and IG charges 0.7%. For purely UK stocks, they're effectively the same cost.

Do I need to pay tax when switching brokers?

If you sell investments in a General Investment Account (GIA), that's a capital gains event. You won't owe tax if your total gains for the year are within the £3,000 CGT allowance (2025/26). ISA transfers don't trigger any tax. Consult HMRC or a tax adviser for your specific situation.

Are my crypto holdings protected by FSCS?

No. Crypto assets are not covered by FSCS on any platform. This is worth repeating because it's a common misconception. The £85,000 FSCS protection only applies to eligible investments like stocks and funds held through an FCA-regulated broker.

Can I buy crypto directly on Trading 212 in the UK?

No. UK residents cannot buy cryptocurrency directly on Trading 212. You can only access Crypto ETNs (exchange-traded notes), which track crypto prices but don't give you direct ownership. For direct crypto ownership, consider platforms like eToro or Bitpanda.

References