Best Free Trading Platforms In The UK 2025
Thomas Drury
Co-Founder
Thomas is an experienced financial trader in leverage instruments, crypto and general investing. He has over a decade experience in finance and holds Chartered Status in the financial industry, Thomas’s speciality is trading CFDs, Forex and Day Trading. His crypto portfolio is heavily weighted towards BTC and Eth, but enjoys trading low cap crypto’s with higher volatility. Thomas’s favourite trading strategy is break out Trading.
“Our commitment at The Investors Centre is unwavering. We strive to provide clear, actionable advice that empowers you to achieve financial success. Our vision is a future where anyone can invest confidently and wisely.”
Dom Farnell
Co-Founder
Dom is an experienced retail investor, learning his craft in what he likes to call the “hard way”. Through many of these lesson’s he has crafted himself a sound investment strategy that has enabled him to make investing into a business not just a hobby. He wanted to create The Investors Centre to be able to use these lessons and help other people establish them selves in the world of investing.
“Financial clarity and integrity are the cornerstones of everything we do. We’re here to ensure that your investment journey is built on a solid financial understanding and a sound strategic foundation.”
Table of Contents
Disclaimer
How We Test
Explore our curated list of reputable, regulated brokers, each rigorously tested with real funds. All brokers are accessible to traders in the United Kingdom.
XTB
TIC Platform Rating: 4.7/5
73% of Retail CFD Accounts Lose Money
Spreadex
TIC Platform Rating: 4.6/5
65% of retail CFD accounts lose money.
eToro
TIC Platform Rating: 4.4/5
51% of retail CFD accounts lose money.
Pepperstone
TIC Platform Rating: 4.4/5
81.7% of retail CFD accounts lose money.
Quick Answer: What is the Best Free Online Trading Platform in the UK?
The best free online trading platform in the UK is XTB. With zero commissions on stock and ETF CFDs, no minimum deposit, and access to the powerful xStation 5 platform, XTB stands out for both beginner and experienced traders. FCA-regulated and offering tight spreads across a wide range of markets including forex, indices, and commodities, XTB delivers a premium trading experience with no hidden costs.
Featured Platform - XTB
A globally recognized brokerage, XTB offers a powerful, user-friendly trading platform catering to both beginners and experienced traders. Known for its award-winning xStation 5 platform, XTB delivers fast execution, advanced charting tools, and access to over 2,100 financial instruments—including forex, indices, commodities, and CFDs on shares and ETFs. With a strong regulatory reputation and excellent customer service, XTB is a solid choice for traders looking for a reliable and comprehensive online broker.
- Minimum Deposit: £0
- Trade over 2,100 instruments (including CFDs on stocks, indices, and crypto)
- Regulated by the FCA (UK) and other top-tier authorities
- Mobile & desktop platforms (xStation 5 and xStation Mobile)
- Ideal for active traders seeking low spreads, fast execution, and professional-grade tools
73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
How to These Low Fee Trading Platforms Compare?
| Rank | Broker | Commission | Fees | Account Types | Min Deposit | Spread | Key Features | Tradable Assets |
|---|---|---|---|---|---|---|---|---|
| #1 | XTB | 0% on stock & ETF CFDs | No inactivity fee under 12 months | General investment | £0 | From 0.1 pips (Forex) | Commission-free stock/ETF CFDs, xStation 5 | Forex, CFDs, Stocks, ETFs, Commodities, Indices |
| #2 | Spreadex | Varies by asset | £1/month inactivity after 3 months | General investment, Spread betting | £1 | From 0.6 pips (Forex) | Competitive spreads, leverage | Stocks, ETFs, Forex, Indices, Commodities |
| #3 | eToro | 0% on real stocks | $5 withdrawal, $10/month inactivity after 12 months | General investment, ISA | $50 | From 1.0 pip (Forex) | Copy trading, user-friendly | Stocks, ETFs, Crypto, Indices, Commodities |
| #4 | Pepperstone | 0% on US stocks | No fees | General investment, ISA | None | From 0.0 pips (Forex) | Multiple platforms, social trading | Forex, CFDs, Crypto, Indices, Commodities |
| #5 | Interactive Investor | £3.99 – £5.99 per trade | £9.99/month account fee | General investment, ISA, SIPP | £1 | Competitive (not disclosed) | One free trade/month, large share universe | Stocks, ETFs, Funds, Bonds |
| #6 | Saxo | From £8 per trade | $100 inactivity fee after 6 months | General investment, ISA, SIPP | £500 | From 0.4 pips (Forex) | Advanced platforms, wide assets | Stocks, ETFs, Forex, Options, Futures, Bonds |
| #7 | IG | £8/trade (£3 if >3/m) | £12/month inactivity after 2 years | General investment, ISA, SIPP | £250 | From 0.6 pips (Forex) | Advanced tools, education | Stocks, ETFs, Forex, Indices, Commodities, Options |
Here's the Top 7 Free Trading Platforms Available in the UK
- XTB – Best All-Round Free Trading Platform with Commission-Free Stock & ETF CFDs
- Spreadex – Best Low-Cost Spread Betting Broker in the UK
- eToro – Best Social Trading Platform with Low Fees
- Pepperstone – Best Low-Cost Broker for Forex and CFD Trading
- Interactive Investor – Best Low-Cost Broker for High Volume Traders
- Saxo – Best Advanced Trading Platform with Tight Spreads
- IG – Best Comprehensive Trading Tools with Variable Spreads
XTB: Advanced Trading Platform, Commission-Free Stock & ETF CFDs, and No Minimum Deposit
Pros & Cons
- Commission-Free Stock and ETF CFDs: Trade thousands of global equities and ETFs with 0% commission.
- Powerful Proprietary Platform (xStation 5): Offers fast execution, advanced charting tools, and in-platform market insights.
- No Minimum Deposit: Start trading without needing to fund a specific amount upfront.
- Limited Access to Physical Assets: While XTB excels with CFDs, access to real shares and ETFs is restricted or unavailable in some regions.
- No Support for MetaTrader 4 (MT4): Traders who rely on the popular MT4 platform will need to adapt to XTB’s proprietary xStation, as MT4 is no longer supported.
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What are the Fees?
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What Key Features are Available?
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What Account Types are Available?
• Commission: 0% on stock and ETF CFDs.
• Fees: No platform or inactivity fees (under 12 months of inactivity).
• Minimum Deposit: £0 – no minimum to get started.
• Spread: Starting from 0.1 pips on major forex pairs.
Access to 2,100+ global instruments, including stocks, ETFs, forex, indices, and commodities. Features a powerful proprietary platform (xStation 5), in-depth market analysis, and fast execution.
Account Types: General investment, ISA.
73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Spreadex: Wide range of markets, competitive spreads, spread betting options, and low minimum deposit.
Pros & Cons
- Wide range of markets to trade, offering extensive options.
- Competitive spreads starting from 0.6 pips for cost-effective trading.
- Low minimum deposit requirement, making it accessible for beginners.
- Inactivity fee after 3 months, which could affect casual traders.
- Varied commission structure may be confusing for new traders.
- Limited advanced trading tools compared to specialized brokers.
-
What are the Fees?
-
What Key Features are Available?
-
What Account Types are Available?
- Commission: 0% on US stocks.
- Fees: None.
- Minimum Deposit: None.
- Spread: Starting from 0.0 pips on major forex pairs.
Key Features: Access to 250+ stock CFDs, multiple trading platforms (MT4, MT5), social trading partnerships.
Account Types: General investment, ISA.
65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
eToro: User-friendly, social trading, commission-free stocks, and access to multiple global markets.
Pros & Cons
- User-friendly interface for easy navigation and trading.
- Social trading features allow copying of successful traders.
- Commission-free stocks trading for cost-effective investing.
- Variable spreads can be higher than some competitors.
- Inactivity fee after 12 months, which could impact occasional traders.
- Limited to $50 minimum deposit, potentially restricting very small investments.
-
What are the Fees?
-
What Key Features are Available?
-
What Account Types are Available?
- Commission: 0% on real stocks.
- Fees: $5 withdrawal fee, $10/month inactivity fee after 12 months.
- Account Types: General investment, ISA.
- Minimum Deposit: $50.
- Spread: Variable spreads starting from 1 pip on major forex pairs.
Account Types: General investment, ISA.
Account Types: General investment, ISA.
CFDs are complex instruments with a high risk of losing money rapidly due to leverage. 51% of retail CFD accounts lose money when trading CFD’s with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Pepperstone: Multiple trading platforms, commission-free US stocks, tight spreads, and strong social trading partnerships.
Pros & Cons
- Commission-free trading on US stocks, reducing costs.
- Tight spreads starting from 0.0 pips on major forex pairs for better value.
- Multiple trading platforms (MT4, MT5) for flexible trading options.
- No commission-free options for non-US stocks.
- Inactivity fee may apply, which could be a disadvantage for infrequent traders.
- Limited educational resources compared to some competitors.
-
What are the Fees?
-
What Key Features are Available?
-
What Account Types are Available?
- Commission: 0% on US stocks.
- Fees: None.
- Minimum Deposit: None.
- Spread: Starting from 0.0 pips on major forex pairs.
Key Features: Access to 250+ stock CFDs, multiple trading platforms (MT4, MT5), social trading partnerships.
Account Types: General investment, ISA.
81.7% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Interactive Investor: One free trade per month, comprehensive investment options, competitive commissions, and fixed monthly fee.
Pros & Cons
- One free trade per month, adding value for active traders.
- Access to over 40,000 shares, offering extensive investment options.
- Competitive commissions for frequent traders.
- Monthly account fee of £9.99, which could be high for low-volume traders.
- Complex fee structure may be difficult for beginners to understand.
- Limited customer support hours, which could be inconvenient for some users.
-
What are the Fees?
-
What Key Features are Available?
-
What Account Types are Available?
- Commission: £3.99 – £5.99.
- Fees: £9.99/month account fee.
- Minimum Deposit: £1.
- Spread: Competitive spreads, exact values not disclosed.
Key Features: One free trade per month, access to over 40,000 shares, fixed account fee.
Account Types: General investment, ISA, SIPP.
Trading and investing involve risk. The value of your investments can go up or down, and you may lose all or part of your capital. These products may not be suitable for all investors. Please ensure you fully understand the risks involved.
Saxo: Advanced trading platforms, tight spreads, wide range of investment options, and high-quality research tools.
Pros & Cons
- Advanced trading platforms with comprehensive tools and features.
- Tight spreads starting from 0.4 pips for better value.
- High-quality research tools to aid in informed decision-making.
- High minimum deposit of £500, which may be restrictive for beginners.
- Inactivity fee after 6 months, which could impact occasional traders.
- Higher commission rates compared to some competitors.
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What are the Fees?
-
What Key Features are Available?
-
What Account Types are Available?
- Commission: From £8 per trade.
- Fees: Inactivity fee of $100 after 6 months of inactivity.
- Minimum Deposit: £500.
- Spread: Tight spreads starting from 0.4 pips.
Key Features: Advanced trading platforms, wide range of investment options, high-quality research tools.
Account Types: General investment, ISA, SIPP.
64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
IG: Comprehensive trading tools, variable spreads, wide range of instruments, and educational resources.
Pros & Cons
- Wide range of trading instruments for diversified investing.
- Comprehensive trading tools and educational resources.
- Reduced commission to £3 per trade if more than 3 trades per month.
- Monthly inactivity fee after 2 years, which could affect long-term dormant accounts.
- Higher commission of £8 per trade for less active traders.
- Higher minimum deposit of £250, which may not be ideal for all investors.
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What are the Fees?
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What Key Features are Available?
-
What Account Types are Available?
- Commission: £8 per trade, reduced to £3 if more than 3 trades/month.
- Fees: £12 monthly inactivity fee after 2 years.
- Minimum Deposit: £250.
- Spread: Variable spreads starting from 0.6 pips.
Key Features: Wide range of trading instruments, advanced trading tools, educational resources.
Account Types: General investment, ISA, SIPP.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% 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.
How to Select the Best Low-Cost Stock Broker
Evaluate Fees: Check trading commissions and additional charges like withdrawal or inactivity fees.
Assess Platform Usability: Ensure the platform is user-friendly with essential tools.
Check Asset Variety: Choose brokers with a diverse range of tradable assets.
Verify Customer Support: Ensure reliable and accessible support through multiple channels.
Review User Feedback: Analyse reviews from sources like Google Play, Trustpilot, and the App Store.
Selecting the best low-cost stock broker involves several key considerations.
- Security: Ensure the platform offers robust security features like 2FA and cold storage.
- Fees: Compare transaction and withdrawal fees across different platforms.
- Trading Tools: Look for advanced features like futures, margin trading, and automated bots.
- Supported Coins: Choose a platform with a diverse selection of cryptocurrencies.
Next, assess the trading platform’s usability and features. A user-friendly interface with robust tools is essential for both beginners and experienced traders. Platforms like IG and Saxo offer advanced trading tools that can benefit seasoned investors, while also providing intuitive interfaces that cater to novices.
Finally, consider the range of assets available for trading. A diverse selection of tradable assets allows you to build a varied investment portfolio. Brokers such as Interactive Investor and AvaTrade provide access to a wide range of stocks, ETFs, and other securities, ensuring that you can diversify your investments effectively.
How Do Discount Brokers Operate?
Discount brokers offer trading services at a lower cost by reducing operational costs and pass the savings onto their clients. Unlike full-service brokers who may provide personalized investment advice and portfolio management, discount brokers focus on executing trades efficiently.
One of the main advantages of using discount brokers is the significant reduction in fees and commissions. For example, Pepperstone offers commission-free trading on US stocks, making it an attractive option for cost-conscious investors. Additionally, these brokers often provide access to educational resources and tools that empower traders to make informed decisions independently.
However, the lack of personalized advisory services means that investors need to have a good understanding of the market and be comfortable making their own investment decisions. This can be a challenge for beginners, but the availability of demo accounts and educational materials can help bridge this gap.
Key Considerations Before Engaging in Stock Trading
Before starting stock trading, consider your investment goals and risk tolerance. Define your financial objectives to choose suitable stocks and strategies. For example, prioritize stable, long-term investments if saving for retirement.
Understand trading fees and commissions as they vary by broker. Compare fee structures from brokers like AvaTrade and Interactive Investor to minimize costs and maximize returns.
Ensure access to reliable market information and analysis tools. Robust platforms with advanced research tools, like IG and Saxo, provide valuable insights for informed decisions.
Understanding the Risks of Affordable Online Trading
Affordable online trading platforms increase investment accessibility but come with risks. Choose brokers regulated by reputable authorities like the FCA to protect your investments.
Market volatility is a significant risk. Lower-cost brokers attract new investors who may not understand market dynamics, leading to increased trading during volatile periods. Brokers like Interactive Investor and IG provide tools and resources to mitigate this risk.
The convenience of online trading can lead to overtrading. Excessive trades based on short-term market movements can result in higher costs and potential losses. Set clear goals and maintain a disciplined strategy to manage this risk.
How Do Commission-Free Trading Platforms Work?
Commission-free trading platforms allow investors to buy and sell stocks and other assets without paying traditional trading fees. These platforms have revolutionized the trading landscape by making it more accessible and affordable for everyone.
How Do Commission-Free Platforms Make Money?
Commission-free trading platforms generate revenue through various methods. One common approach is receiving payments for order flow, where platforms get compensated for directing trades to specific market makers or exchanges. Additionally, these platforms may have slightly wider spreads between the buying and selling prices of assets, indirectly charging users through these price differences. Another revenue stream comes from additional fees for services like premium account features, withdrawals, or inactivity. By leveraging these methods, commission-free platforms can maintain their operations while offering zero-commission trading to users.
Pros and Cons of Commission-Free Trading Platforms
- Lower Costs: No commission fees mean more of your money is invested.
- Accessibility: Lower barriers to entry attract new investors.
- Frequent Trading: Ability to trade more often without worrying about fees.
- Wider Spreads: The difference between buy and sell prices may be larger.
- Limited Services: Often lack personalized investment advice.
- Potential Overtrading: Easy access may lead to excessive trading and higher risks.
How to Start Trading? Step-bystep Guide
If you’re new to financial asset trading—such as forex, stocks, commodities, or indices—follow these steps to begin your journey:
Step 1: Choose a Reputable Broker
Select a broker regulated by a respected authority, such as the FCA (UK), ASIC (Australia), or SEC (U.S.). Well-known brokers like IG, Pepperstone, or Saxo Bank offer access to a broad range of financial instruments and solid trading platforms.
Step 2: Open and Verify Your Trading Account
Register with your chosen broker and complete the KYC (Know Your Customer) process by submitting identification documents. Choose an account type suited to your experience—standard, premium, or professional accounts may have different leverage and support options.
Step 3: Fund Your Account
Deposit funds using bank transfers, debit/credit cards, or e-wallets supported by your broker. Ensure your base currency matches your preferred trading currency to avoid unnecessary conversion fees.
Step 4: Learn and Apply Trading Strategies
Start with time-tested strategies used in financial markets:
- Trend Following – Riding the momentum of market direction.
- Swing Trading – Capturing short- to medium-term gains.
- Scalping – Making many small trades for quick profits.
- Fundamental & Technical Analysis – Understanding price movements and market drivers.
Step 5: Practice with a Demo Account
Before risking real capital, use a demo account to simulate trades in live market conditions. Brokers like eToro, XTB, and IG offer free demo platforms to refine your strategy.
By following these steps, beginners can confidently enter forex and crypto markets while managing risks effectively.
How to Minimize Foreign Exchange Costs When Trading International Equities
When trading international stocks, foreign exchange (FX) costs can eat into profits. Here are ways to minimize these costs:
1. Choose Brokers with Low FX Fees
- Some brokers charge high currency conversion fees when buying international equities.
- Brokers like Interactive Investor and Saxo Bank offer multi-currency accounts to reduce frequent conversions.
2. Use Multi-Currency Accounts
- Instead of converting GBP every time you trade, hold funds in foreign currencies.
- Brokers like Interactive Brokers allow investors to maintain balances in different currencies to avoid repeated FX charges.
3. Consider Currency Conversion Services
- Some investors use third-party services like Wise or Revolut to convert currencies at interbank rates before depositing into brokerage accounts.
4. Trade in Local Currency When Possible
- Some platforms allow direct foreign currency deposits, reducing unnecessary conversions.
5. Look for Fee-Free Trading Windows
- Certain brokers offer fee-free or reduced-cost FX transactions during specific periods.
By adopting these strategies, investors can significantly lower FX costs and enhance their overall investment returns.
Holding Foreign Stocks in UK Tax-Advantaged Accounts (ISAs & SIPPs)
Investing in international equities within UK tax-advantaged accounts, such as ISAs and SIPPs, has unique benefits and considerations:
1. Tax Efficiency of Foreign Stocks in ISAs
- Capital Gains Tax (CGT) Benefits: Any growth on foreign stocks inside an ISA is free from UK CGT.
- Dividend Withholding Tax: Some foreign countries impose withholding taxes on dividends (e.g., the US charges 15% for UK investors under the tax treaty).
2. Holding Foreign Equities in SIPPs
- SIPPs provide even better tax advantages, as dividends can be reclaimed from withholding tax in some cases.
- Investments grow tax-free, and withdrawals are taxed based on UK pension rules.
3. Currency Risks in Tax-Advantaged Accounts
- Since ISAs and SIPPs typically don’t allow multi-currency holdings, every foreign trade involves a currency conversion.
- To minimize FX fees, choose brokers offering competitive conversion rates (e.g., Interactive Investor).
4. Double Taxation Agreements (DTAs)
- UK investors can sometimes reclaim withheld tax on dividends by submitting tax forms (e.g., W-8BEN for US stocks).
Holding foreign stocks in ISAs and SIPPs can be highly beneficial but requires careful planning regarding FX fees and tax treaties to maximize returns.
Types of International Equities and Exotic Securities Available for Trading
Investors looking to diversify into global markets have access to various international equities and exotic securities:
1. Developed Market Stocks
- These are stocks from mature economies like the US, UK, Germany, and Japan.
- Examples: Apple (US), Nestlé (Switzerland), Toyota (Japan).
2. Emerging Market Equities
- High-growth stocks from developing markets like China, India, and Brazil.
- Examples: Alibaba (China), Tata Motors (India), Petrobras (Brazil).
- Higher volatility but potential for strong returns.
3. ADRs (American Depositary Receipts)
- US-listed versions of foreign stocks, allowing easier access to global companies.
- Examples: Tencent ADR (China), BP ADR (UK).
4. Foreign ETFs (Exchange-Traded Funds)
- ETFs tracking international indices or sectors.
- Examples: Vanguard FTSE All-World ETF, iShares MSCI Emerging Markets ETF.
5. Exotic Securities
- Include derivative-based instruments like:
- Warrants (Options with long expiration periods).
- Structured Notes (Custom debt instruments with unique payout structures).
- Convertible Bonds (Bonds that can convert into equity at predetermined conditions).
By understanding these investment options, UK traders can access global opportunities while balancing risk and diversification.
Conclusion
Choosing the right low-cost broker is crucial for maximizing your investment returns while minimizing expenses. By evaluating brokers based on fees, platform usability, asset variety, and customer support, you can find the best fit for your trading needs. Whether you’re a beginner or an experienced trader, the right broker can make a significant difference in your trading success.
Ready to start trading? Compare our top-rated low-cost brokers now and take the first step towards smarter, more cost-effective investing.
FAQs
What is a discount broker?
A discount broker offers trading services at lower costs by providing fewer advisory services, focusing on efficient trade execution through automated platforms.
How do commission-free brokers make money?
Commission-free brokers typically earn revenue through wider spreads, payment for order flow, and other fees like withdrawal or inactivity charges.
Are commission-free brokers safe?
Yes, as long as they are regulated by reputable authorities such as the FCA, ensuring they adhere to strict security and financial standards.
Can beginners use discount brokers?
Yes, many discount brokers offer educational resources and demo accounts to help beginners learn and practice trading without risking real money.
What types of assets can I trade on cost-effective platforms?
You can trade a variety of assets, including stocks, ETFs, forex, commodities, and cryptocurrencies, depending on the broker’s offerings.
References
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73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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