Five best trading apps in the UK

Buying and selling shares successfully requires relevant software and traders are being advised on how to choose the right app.

Nutmeg – best app for managing your portfolio
Nutmeg – best app for managing your portfolio

Carefully consideration should be given on how they intend to trade as apps vary widely in terms of share selection, fees, tools, and charting.

There are commission-free exchanges, which might potentially save money, but they may lack required features, which is why e xperts say they have compiled this list of the five best trading apps in the UK.

1.Nutmeg – best app for managing your portfolio

Nutmeg is recommended as the best robo-advisor for those who want to buy into a pre-made portfolio. When working with this service, you can rest easy knowing that your investments are being monitored by professionals.

Among Nutmeg's 30 fully managed portfolio options are many that prioritize ethical investing. It's app-only, but that's not a deal breaker because you don't need access to the complex charts you'd find with share dealing providers.

2.Barclays – best app for incremental investments

Barclays offers a variety of UK shares and ready-made portfolios, making it a smart choice for novice investors with little funds.

An Individual Savings Account (ISA), Lifetime Individual Savings Account (LISA), or pension can be opened at no extra cost, and then moved to a new provider for a wider investment range or more features. It has a fee of GBP6 per trade, making it highly competitive.

Hargreaves Landsdown – app with the best customer feedback

According to recent consumer surveys, 93% of those who have used Hargreaves Lansdown would recommend the company to others.

You can open up an Individual Savings Account (ISA), a SIPP, or a junior account for your child(ren) with Hargreaves Lansdown.

The average trading fee is £11.95, which is higher than the fees charged by certain other providers and especially for frequent traders. The fees associated with trading under £1,000 could eat into your profits.

That said, in exchange for a higher commission, you gain access to a wealth of additional services, such as in-depth analysis of each investment and how-to manuals for making informed trades.

Freetrade – best beginner trading app

The concept of retail investment has been given a fresh spin with Freetrade, which is aimed towards those who want to test the waters of investing for the first time.

The key selling point of Freetrade is that it does not charge any trading fees on a wide variety of stocks, ETFs, and investment trusts. If you wish to invest in an ISA, you'll have to pay an extra £3 each month, and there's a 0.45% fee on foreign exchange for overseas shares.

Degiro – best app for asset diversification

When using DEGIRO, you can trade on more than 50 stock exchanges in 30 countries for competitive commission rates. Diversifying your portfolio among stocks, bonds, and exchange-traded funds (ETFs) is easy using DEGIRO.

One thing to keep in mind is that DEGIRO does not accept Individual Savings Account (ISA) or pension investments. There is no doubt that experienced traders would benefit more than novices from this trading app.