COVID-19 has had quite an impact on global economies – UK included. UK saw a 20.4% drop in its economy, becoming one of the worst affected economies. Finding and maintaining a job or starting a business has become hard. According to reports, UK is expected to be in recession until the middle of 2023.
In such tough times, the best way out is to invest in stock. The long term equity returns, better tax treatment that slows down or prevents inflation and taxes from impacting your wealth, regular investment income – all these advantages it provides help you get through the recession in a better manner.
The volatility and money-making potential of stock markets is what draws people – millions of them from around the globe towards it. If you observe, you might even have some close friends and family members who are day traders.
Stock trading is not that hard when you have a good trading platform. There are numerous stock trading apps available today in the UK that does the job for you in a reliable and comprehensive manner. You can use the apps to research the market, buy, and sell stocks easily.
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Whether plan to trade on a daily basis or once in a while, you can find all kinds of opportunities in these apps in a few clicks. You can even meet expert traders, follow their strategies and trading methods, and even access other markets using the apps.
But in UK, free stock trading apps will prove very useful for understanding the maximum returns and minimum risk whine.
In this blog, we have listed out 10 best stock trading apps in the UK.
Acorns is a stock trading app available in the UK. It has no minimum initial deposit requirement. You can fund your account in a traditional way – as a lump sum or automatic recurring deposit.
In Acorns app, you can choose from one of five investment portfolios. Each portfolio includes only the different allocation of six Index-based Exchange Traded Funds (ETFs). This not only eliminates the need for personal security selection, but also lowers the transaction costs.
Acorns app is simple to use and intuitive. You can get all your trading-related work done in the app. Apart from investing spare change, you can also use the app to save up for retirement and to open a checking account. In terms of data security, Acorns app offers safe data transmission and storage through some of the highest security and encryption methods.
- Acorns facilitate you to choose from one of five investment portfolios
- Each portfolio includes only the different allocation of six Index-based Exchange Traded Funds (ETFs).
- This not only eliminates the need for personal security selection, but it also results in lower transaction costs
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2. Stock Market Simulator
Stock Market Simulator offers the simplest way to engage yourself in the stock trading market, making it one of the influential free stock trading apps in the UK. You can use the app to practice stock trading using virtual money. Apart from regular stocks, the app also offers Exchange Traded Funds, bonds, and digital money – Bitcoin, crypto currencies, and more.
You can practice trading and investing in the app by yourself or join a game with your peers and compete. In your portfolio, the stock trading app shows weekly and month cyclic graphs so that you will get an improved report of the overall trading act.
- To begin with, you are given 25,000$ which can be used to trade more than 50,000 real-time stocks.
- In addition to regular stocks, you can also explore and experiment with Exchange Traded Funds, bonds, and digital money such as Bitcoin, cryptocurrencies, and so forth.
- Stock Market Simulator incorporates potent tools similar to order stops features and edges to simulate stock trading
- In your portfolio, the stock trading app shows weekly and month cyclic graphs so that you will get an improved report of the overall trading act.
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Freetrade is a free stock trading platform that is popular among new investors who are looking for an easy-to-use platform with a good-looking interface. The app uses the “freemium” model, i.e., there are some free features as well as advanced features that come at a cost.
In Freetrade app, you can invest in 3 account types – all of which have their own set of features:
- Freetrade general investment account (GIA)
- Freetrade stocks and shares ISA
- Self-invested personal pension (SIPP)
Do not expect any financial advice or any financial guidance in this app.
Unlike other financing apps, SigFig app provides you the opportunity to entirely manage your investments in the Stock Exchange. Once you sign app, the app provides you a custom investment strategy with focus on high returns. If you cannot do the trading by yourself, you can pay a handling fee of $10 per month and the app will do it for you.
If you are a new investor, the app also provides you advices that will help you learn about investments better by tracing their returns and keeping you aware about the current stock updates and research.
- After signing up, this stock market app offers you a tailored investment strategy to get high returns. In addition, if you are not able to do your work, you just have to pay $10 per month in order to handle your account.
- Another feature that makes SigFig different from other stock market app. It guides new financier to understand better about investments by tracing their returns and keeping them aware of current stock updates and research.
- However other stock market apps may simply follow as much return as possible, this stock market app advises you on investments from side to side education in addition.
5. Yahoo Finance
Yahoo Finance is the stock trading app from the tech giant – Yahoo. This app helps you to easily track specific stocks by adding them to a watch list in order to get quotes and customized news regarding the businesses.
You can view full-screen graphs by flipping your phone into landscape mode. The graphs give a lot of data regarding stocks and even facilitate you to check completely different choices. You can also find the data on exchanges, commodities, equities, bonds, and markets in the app
The app also allows you to follow more than one hundred completely different crypto currencies apart from the most popular, Bitcoin. You can also synchronize all of your personal stock data between multiple devices.
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You can find plenty of trading-related information in the Bloomberg app though you cannot invest directly from the app nor have the app handle your funds for you. The information will help you greatly in the decisions you take regarding trading.
You can view current news about the market in the app, including the market and current finances. The app is free of cost and simple to use. It also offers plenty of information.
7. Fidelity Investment
Manage your profile and watch lists, research the market, and trade stocks, ETFs and more using the app. You can also find news, quotes, videos, and innovative charting- all that will help you reach the top of the stock market.
The app offers a personalized feed for you. You also get a vibrant experience with well-timed and pertinent portfolio and market information, in addition to made-to-order updates and custom-made content in the feed.
Similar to the Bloomberg stock app, CNBC app provides daily market news, stock market quotes on demand, videos and complete CNBC programs. The app is a great source of all investment related news. The app is easy to navigate – a factor that makes the app popular among users.
CNBC app is also quick and reliable. You also get access to all or any the news and stats of interest.
Benzinga app is what you can call the social media app for financing. Apart from providing stock market related news, it also features current market tweets and articles and news on social media. The app focuses on daily affairs in the market and not just on the market as a whole.
The best part is the real-time information Benzinga app provides. You can find stock quotes, trading news and related news in the app.
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10. Wealthfront App
For a new investor looking for a somewhat more hands-off method for trading, Wealthfront is a great app.
The app will guide you to invest a minimum security of $500 for free if your account balance is below $10,000. When the balance reaches $10,000, you will be charged 0.25% of the returns worth of management of a year.
If the news reports are to be believed, there are chances for a global recession, which will surely affect UK as well. So the best way to manage your finances is to invest in stocks. You can look through the above-mentioned list of apps and choose the best suited stock trading app for you.