7 Best Day Trading Platforms in the UK for 2024 

UK trading platforms keep adding features that specifically cater for the substantial percentage of retail traders who engage in buying and selling financial instruments within the same day, exploiting price swings for a profit.

Day trading gained popularity during the COVID-19 pandemic, when people were confined to their homes amid a series of lockdowns, and has remained popular ever since. Typically aged between 18 and 34, day traders skew younger than the average investor, and they account for 65% of all online traders in the UK, according to Broker Notes. 

The rise of trading apps, which has made financial markets more accessible for the masses, has also helped the spread of day trading. The trend continues to grow, even as multiple studies show that most day traders lose money. On the plus side, though, profits from spread betting, a form of derivative trading strategy that a lot of day traders use, are tax free in some cases in the UK.

Many platforms have gone away from charging commissions for trades, which has further incentivised it. The rise in day trading has also made markets more volatile, which is exactly what day traders need to flourish. In this guide, we review seven UK platforms that we deemed to be among the most user-friendly to day traders. See our picks below:

An in-depth look at today’s best platforms for day trading in the UK

Now, let’s break down the UK’s top day trading platforms, based on multiple factors, such as user-friendliness, range of instruments to trade, fees, alerts, charting and educational resources.

1. eToro: Easy-to-use platform, transparent fees

eToro gets strong marks for its intuitive interface that makes it easy to follow stocks, forex, commodities, and various sectors. The platform also has multiple features that help out novice day traders. It was an early mover in copy trading, a feature that allows you to mimic the investing strategies of elite traders—and be rewarded if others copy your trading strategies. It also provides a demo account with $100,000 in “play money” so traders can get their feet wet without paying for it. There’s quite a bit of social investing on the platform that can help traders as well.

It’s easy to open an account with this user-friendly broker. It offers more than 30 cryptocurrencies among the more than 5,000 financial instruments it delivers for CFD trading. These include stocks, forex, commodities, indices and crypto. The platform also has a Smart Portfolio that offers balanced and researched portfolios that can help those looking to invest in specific market segments.

One downside of eToro for day traders is it charges a flat 1% fee on buying and selling crypto, and while it doesn’t charge commission for CFD trades, its bid-ask spread is larger than some companies. Also, while it offers real shares, not just derivatives, there are certain limits on transferring shares, and only US stocks grant voting rights. 

_{Disclaimer: 51% of CFD traders lose money. Your capital is at risk.}

2. XTB: Designed with the frequent trader in mind

XTB stands out for day traders because it’s known for executing trades quickly, has an easy-to-use interface and more than 5,800 financial instruments available for trading. Its trading options, in 2023, expanded from contracts for difference (CFD) trading for stocks, indices, ETFs, commodities, forex and cryptocurrencies, to also allowing direct share buying and direct ETF buying with no commission (at least if you trade for less than £100,000 a month). It also allows trading from 16 major exchanges globally.

Less-experienced investors should benefit from its free demo account that offers £85,000 in virtual funds and its copy trading options. The platform does a good job of educating investors, with a knowledge center of more than 1,000 articles, as well as a regularly updated news feed. XTB pays up to 5.2% interest on uninvested funds held in the account, an edge over most platforms used by day traders.

XTB web platform has several tools to help investors, including updated market news, a listing of upcoming dividend announcements, a calendar of economic news and a market sentiment indicator that shows what various commodities and currencies are doing. Its home page allows investors to view many assets, including indices, stocks, commodities and currencies.

3. Pepperstone: Great for forex day traders, advanced trading platforms

The platform, thanks to its more than 100 currency pairs, is favored by many day traders for forex and because of its relatively fast execution speed of 30ms. The company’s EDGE Razor account charges USD $3 per trade, but has narrower spreads, and that’s a big edge for active day traders. It’s simple to begin with no minimum deposit required. Beginners might like its EDGE Standar account, which doesn’t charge commissions on trades but has a spread of 1.0 pips.  

Some of the platforms available on Pepperstone include MT4, MT5, cTrader, TradingView, and the Pepperstone Trading Platform, most of which deliver solid technical analysis and charting for day traders, particularly those who use algorithms. The company offers spread betting, as well as CFD trading. While both trading methods are similar, spread betting profits usually aren’t liable to a capital gains tax.

Pepperstone offers a demo account, but that lasts for only 30 days, so it leaves beginners with a short window to get acquainted with trading. Also, Pepperstone doesn’t offer any types of copy trading or social trading. The biggest negative may be that the company provides relatively scant educational resources, with a smattering of articles and videos. 

4. Trade Nation: Demo trader, copy trading options for day traders

It’s easy for day traders to get started on Trade Nation because it doesn’t charge a minimum deposit and there’s no inactivity fee. Plus, you can actually practice on a demo trader without signing up for Trade Nation, and it offers US $10,000 in virtual funds for this feature. Experienced day traders can use its advanced trading platforms that includes in-house platform TN Trader, as well TradingView and MetaTrader 4.  

Some of its perks for active traders include alternative data and market insights. Trade Nation’s copy trader program, TradeCopier, allows you to automatically mimic how certain experts trade, but it’s only available on the MetaTrader 4 platform. It has a decent amount of educational materials, but its knowledge base, which is searchable, runs sluggishly. 

Trading is limited to CFD trading for forex, shares, indices, commodities, and cryptocurrencies. Forex spreads are variable but day traders can take advantage of fixed spreads on indices, commodities and bonds. Customer service doesn’t include live chat, only a phone number, a chatbot and email. Most of its fees are low, with no trading commissions, but its spreads for forex can be high at times.

5. IG: Solid platform for experienced day traders

Day traders, with a bank transfer, can set up an account for free with IG. The company is a well-balanced online trading platform that allows CFD trading and direct share and ETF trading and offers more than 13,200 financial instruments to trade. 

Some of the functions of IG that lend themselves to day trading including its advanced trading platforms and quick execution speeds. It also offers negative balance protection, which prevents traders from losing more than the balance in their account. This protection is available for spread betting and CFD accounts, and it’s free and applied as soon as possible if a balance falls below zero. 

 The downsides to IG for day traders include relatively high share trading fees, though for more frequent traders, those fees drop. It also charges no commission on international stocks and UK stocks cost £8 per trade, but the commission drops to £3 if you make more than three trades per month. US stocks are more expensive at  £10 per trade, but free if you make more than three trades a month.

6. AvaTrade: More than 19,000 tradable assets

AvaTrade offers a favorable environment for day traders, particularly those interested in social trading and risk management. Its AvaSocial, ZuluTrade, and DupliTrade apps facilitate social and copy trading, allowing traders to follow and replicate the strategies of successful traders, and learn from them.

For MetaTrader4 users, AvaTrade Guardian Angel is a valuable risk management tool that provides real-time feedback and customized alerts. With over 19,000 tradable assets, AvaTrade offers a diverse range of instruments. A unique feature is its negative balance protection, which safeguards traders from incurring debts beyond a certain limit.

While AvaTrade’s inactivity fee of £50 might be a concern for less active traders, it’s unlikely to significantly impact day traders. The platform’s trading fees are competitive, primarily consisting of spreads. However, its range of financial instruments is somewhat limited compared to some competitors, lacking bonds and futures.

AvaTrade’s educational resources may be average, but it excels in certain technical aspects. Its push notification system is particularly beneficial for day traders, providing real-time updates on market movements and account changes. Traders can customize these alerts to suit their preferences.

7. FP Markets: Fast execution speeds, plenty of investing options

FP Markets is a popular choice for day traders in the UK due to its competitive pricing, wide range of tradable assets, and advanced trading platforms. It offers various account types with competitive prices, including Standard and Raw accounts, catering to different trading styles and budgets. Raw accounts provide tighter spreads, making them ideal for high-volume traders. In forex, it consistently trades from 0.0 pips on major currency pairs such as the EUR/USD, USD/JPY and GBP/USD.

The platform allows CFD trades in forex, indices, commodities, shares and cryptocurrencies, using advanced technical platforms such as MetaTrader 4, MetaTrader 5, cTrader and Trading View, and it offers a demo training account with US $100,000 in virtual money with it. It also offers social trading features that allow you to copy the traders of successful, experienced day traders. 

Two of the negatives for FP Markets are the lack of non-CFD trading and that it isn’t regulated by the Financial Conduct Authority, the UK’s market watchdog. In Europe, it’s regulated, though, by the European Securities and Markets Authority (ESMA). At AUD $100, the minimum deposit for opening an account is higher than many of its competitors.

How do these UK day trading platforms stack up?

Platform	Minimum deposit	Price to trade	Inactivity fee	FCA protection	Trustpilot score
eToro	US $10, $50 after first deposit	1% on crypto No commission on CFD stock trades	$10 per month after one year of inactivity	Yes	4.2 out of 5 stars (24,286 reviews)
XTB	None	No commission on stocks or ETFs up to $100,000 in trades a month Spreads on CFD trades	€10 a month after 12 months of inactivity	Yes	3.5 out of 5 stars (1,181 reviews)
Pepperstone	$0	Commission free (price built into the spreads)	None	Yes	4.4 out of 5 stars (2,544 reviews)
Trade Nation	None	Commission free (price built into the spreads)	None	Yes	4.4 out of 5 (848 reviews)
IG	£0 on bank transfers £250 for PayPal or credit cards	£8 to buy or sell UK stocks Or £3 (conditions apply)	£12 for accounts that have been inactive for 24 months	Yes	3.6 out of 5 stars (6,983 reviews)
AvaTrade	£100	Commission free (price built into the spreads)	£50 after three months of inactivity	No	4.4 out of 5 (2,527 reviews)
FP Markets	AUD $100	Commission free on standard account (price built into the spreads)	None	No	4.8 out of 5 (6,717  reviews)

What is a day trading platform?

A day trading platform is a software tool designed to facilitate buying and selling securities within a single trading day. These platforms typically offer:

• Real-time market data: Access to current quotes, charts, and news.
• Technical analysis tools: Charts, indicators, and other tools for analyzing market trends.
• Order placement and management: The ability to place and manage various types of orders, like market orders, limit orders, and stop-loss orders.

Leading UK day trading platforms often include additional features such as:

• Real-time news updates: Stay informed about market events.
• Customizable alerts: Receive notifications based on specific market conditions.
• Mobile apps: Trade and monitor markets on the go.

What are the best markets to day trade in the UK?

Choosing the best markets and assets for day trading in the UK depends on several factors, including your risk tolerance, trading experience, and investment goals. However, some popular options among UK day traders include:

1. Forex:

• High liquidity: Forex markets are the most liquid in the world, offering numerous trading opportunities.
• 24-hour trading: You can trade currencies around the clock, providing flexibility.
• Leverage: Forex trading allows you to control larger positions with a smaller investment, but it also amplifies risks.

2. Indices:

• Diversification: Trading indices like the FTSE 100 provides exposure to a basket of stocks, reducing individual stock risk.
• Leverage: Similar to forex, indices can be traded with leverage.

3. Commodities:

• Hedging: Commodities can be used to hedge against inflation or other economic risks.
• Price volatility: Commodities often exhibit significant price fluctuations, providing potential trading opportunities.

4. Stocks:

• Familiar market: UK investors may be more comfortable trading domestic stocks.
• Dividend income: Some stocks offer dividend payments, providing additional income.

What are the most effective day trading strategies?

Day trading involves various strategies, each with its own risk profile and potential rewards. Here are some of the most common approaches:

Scalping

Scalping is a high-frequency trading strategy where traders aim to profit from small price movements. They quickly buy and sell securities, often holding positions for only a few seconds or minutes. Therefore, scalping requires a highly liquid market and low transaction costs.

Gap Trading

Gap trading involves exploiting price gaps that occur when a stock opens significantly higher or lower than its previous day’s closing price. Traders capitalize on these gaps by anticipating the direction of the stock’s subsequent movement. Understanding market news and events that can influence stock prices during non-trading hours is crucial for successful gap trading.

Momentum Trading

Momentum traders identify securities with strong upward or downward momentum and try to ride the wave of the trend. Therefore, this strategy requires the ability to quickly recognize trends and use stop-loss orders to manage risk.

Breakout Trading

Breakout trading focuses on assets that break above or below support or resistance levels. A successful breakout often requires higher-than-normal trading volume to indicate strong conviction.

Contrarian Trading

Contrarian traders believe that securities that have been steadily rising or falling are likely due for a correction. They look for signs of a reversal and trade accordingly.

Range Trading

Range trading involves identifying securities that trade within a specific price range. Traders buy when the stock reaches the lower end of the range and sell when it reaches the upper end. This strategy requires understanding support and resistance levels and using stop-loss orders.

News-Based Trading

News-based trading involves making trading decisions based on current news reports. Traders may capitalize on overreactions to news or identify opportunities through the sympathetic effect (when a stock’s movement influences similar companies in the same sector).

How to choose the right platform for day trading?

By following these steps, you can find the best UK day trading platform for your investment style:

1. Define Your Needs:

• Trading style: Determine your trading strategy, and decide whether you are going to use scalping, swing trading, or other strategies.
• Markets: Identify the markets you want to trade, such as forex, stocks, or commodities.
• Features: Consider essential features, for example, real-time quotes, charting tools, and order types.

2. Research and Compare:

• UK Brokers: Focus on platforms regulated by the Financial Conduct Authority (FCA).
• Platform offerings: Compare features, fees, and customer reviews.

3. Evaluate Fees:

• Commissions: Compare commission rates for different trade sizes.
• Data fees: Assess costs for real-time market data and charting tools.
• Platform fees: Consider any monthly or annual subscription fees.

4. Test the Platform:

• Demo accounts: Use demo accounts to practice trading without risking real money.
• Functionality: Evaluate the platform’s ease of use, speed, and order execution.

5. Check Customer Support:

• Reliability: Ensure the platform offers responsive and helpful customer support.

6. Read Reviews:

• Testimonials: Seek feedback from other traders about the platform’s performance and reliability.

By following these steps, you can select a trading platform that aligns with your individual needs and goals for day trading in the UK.

What fees will I be charged as a day trader? 

Because they trade more frequently, day traders are more likely to feel the crunch from trading platform fees than other traders. Some of the fees associated with day trading:

Platform Fees

• Monthly subscription fees: Some platforms charge a fixed monthly fee for access to their trading tools and services.
• Data fees: Platforms may charge fees for real-time market data, historical data, or advanced charting tools.

Trading Fees

• Commission fees: Brokers may charge a fee per trade, often based on the number of shares or contracts traded.
• Spread: The difference between the bid and ask price of a security. This can contribute to trading costs, especially for low-volume traders.

Foreign Exchange Fees

• Conversion fees: If you trade foreign securities, your broker may charge a fee to convert your funds between currencies.
• Foreign exchange spreads: The spread on foreign currency pairs can be wider than domestic spreads, affecting trading costs.

Other Fees

• Inactivity fees: Some brokers charge a fee if your account remains inactive for a certain period. However, this is unlikely to be a concern for day traders, because they use the platform frequently.
• Withdrawal fees: Fees may be charged for withdrawing funds from your account, especially using certain methods.
• Wire transfer fees: Fees may apply for wire transfers, both domestic and international.
• Margin interest: If you use margin to leverage your trades, effectively, in other words, you borrow money from your broker, you’ll be charged interest on the borrowed funds.
• Regulatory fees: Also bear in mind that some brokers may pass on regulatory fees to their customers.

Our methodology for selecting the best UK platform for day traders explained

First, we focused on UK-based trading platforms known for their:

• Low fees: To minimize costs for frequent traders.
• User-friendly interfaces: To facilitate efficient trading.
• Quick execution speeds: To minimize slippage and ensure timely order execution.

Then, we also considered a range of platforms to cater to both beginner and experienced traders.

UK day trading FAQs