Traders, or those hoping to become traders, probably have a pretty clear concept of investment services and what they need from an online trading platform: Affordable prices, free premium research, cutting-edge strategy tools, extensive trading features, and the absence of trading commissions are the top priorities for active traders.

What you need to be aware of, though, is how well different day trading and online trading platforms cater to your specific requirements. I have compiled a list of the top online trading platforms below so you can pick the one that best suits your trading needs. Many traders have learned trading fundamentals from this book, “Trading Forex with Divergence.” and I would suggest you to read this as well before getting into trading.

1.   Interactive Investor

Among the more substantial platforms, Interactive Investor counts 400,000 users as customers. A worldwide investment firm called Abrdn bought it in 2021, but it’s still a platform for the whole market. Interactive Investor’s platform charge must be proportionate, making it a pro trading app attractive to early investors. With its Investor plan, even investors with a portfolio worth more than £58,000 would pay less in platform fees than a provider charging 0.25%.

Interactive Investor provides most of the investing possibilities. If you are a trader seeking a low-cost platform with a big selection of investments, Interactive Investor is usually a solid pick.

2.   Trading 212

Trading 212 is available for download, allowing beginners to trade without paying any commissions. A foreign exchange fee of 0.15% should be factored in when transacting in investments denominated in currencies other than the pound sterling, which makes it better than tdamer.

It provides many investing opportunities, including purchasing fractional shares (discussed below). Remember that while the platform does give access to ETFs, it does not provide access to OEIC funds. In sum, Trading 212 is a pro trading app that offers various investments with reasonable fees. The platform’s minimal foreign exchange fee makes it the most cost-effective option for trading shares abroad. This choice may be ideal for individuals comfortable making their own investing decisions with limited guidance, as little investment research is available.

3.   AJ Bell

AJ Bell is a FTSE 250 firm with more than 490,000 customers. It offers substantial research to help you make informed investing selections and has one of the cheaper platform costs for funds compared to major providers. It provides solid all-around investment services.

AJ Bell offers phone service six days a week. During our testing, we saw that calls were returned within a minute, and the service was exceptional in the quality of the answers we received. Additionally, it offers a live chat feature, which can only be found on a few platforms. AJ Bell is usually a top-notch multi-purpose player. You must have considered day trading by now; if you’re looking for some solid tips for starting and handling day trading, the book “How to Day Trade for a Living.” is an absolute gem on my read list!

4.   Saxo

Although Saxo is based in Denmark, clients can open a trading account with them. The platform provides more investing alternatives than any other provider, with over 20,000 assets available across several exchanges.

In addition to capabilities like limiting orders and stopping loss, Saxo delivers first-rate research and market insights compared to TDamers. The trading fees can change based on your membership tier and the global listing of your selected shares.

In addition to the 0.12% custody cost, a foreign exchange fee of 0.25% must be factored in when purchasing and selling shares denominated in currencies other than pound sterling. With any account, you can earn interest on investment services on cash deposits and use our round-the-clock customer support (by phone or online help center).

5.   IG

IG, an FTSE 250 firm, serves over 300,000 customers in seventeen nations. It is a great choice for seasoned do-it-yourself investors because of the extensive investment options and high-tech technical trading tools it provides.

Investors with more valuable portfolios might be interested in IG’s flat platform charge. IG waives the platform charge for users who make three trades every quarter (12 per year). However, platform fees can add up quickly, so casual traders with smaller holdings may find themselves out of pocket. It is a pro trading app because it has one of the lowest foreign exchange fees at 0.5% and allows investors to acquire various shares worldwide.

6.   eToro

In 2007, the founders of eToro set out to build a community around social investing. Thirty million people in over a hundred different nations utilize it.

Trading tools, including stop losses, limit orders, investment services, and leveraged trading, are available on eToro, and no fees are associated with either trading or the site. It offers “social” and “copy” trading features to facilitate communication between novice and seasoned traders.

Customers will incur a 0.5% currency conversion fee when they deposit funds into their accounts, as they are stored in US dollars. However, if consumers also create an eToro Money account and convert their funds to dollars before transferring them to their investing account, this fee will not be levied. To better understand day trading and its fundamentals, get your hands on the “Day Trading Vol 1” book available on Amazon.

7.   Hargreaves

With more than 1.7 million customers, Hargreaves Lansdown (HL) is a pro trading app, FTSE 100 firm, and major trading platform. It offers many investment options and thorough analysis, providing a solid service.

One of HL’s strengths is customer service, especially for clients who need extra assistance. Our test calls were returned within one minute, and the helpdesks are open six days a week.

Customers can place orders through phone, the app, or online, and HL offers a comprehensive suite of trading features. In addition to paying interest on cash balances and providing tools like stop-loss orders, it also offers monthly investments. Holding shares or trading funds does not incur any platform fees. HL can be a solid choice for investors looking to splurge on a premium service.

8.   Bestinvest

With over 50,000 customers, Bestinvest is a pro trading app owned by Evelyn Partners, a wealth management firm once known as Tilney Smith & Williamson. Bestinvest offers telephone and email service six days a week. Comprehensive market research is available, albeit with limited company-specific data. Additionally, it provides free one-on-one investing coaching sessions with financial advisors.

Bestinvest provides various investment services and pre-built portfolios in addition to these do-it-yourself investment alternatives. Bestinvest offers a solid service for individuals seeking to invest in US and UK funds and shares. Many investors consult this book, “REIT Investing for Beginners,” before investing and trading on apps. You must buy this book to understand investing better!

9.   Fidelity

Fidelity, a US-based private equity firm, is said to serve more than 80 million customers globally. Unlike timers and many of its fund manager peers, clients can trade in whole-of-market investments, not just Fidelity products. Fidelity offers a reasonable choice of investing options and a cost for trading shares in the middle of the pack.

Fidelity provides excellent customer service; we reached a live person six days a week who took our call and returned it instantly. Fidelity may attract high-net-worth investors because of its non-tiered platform charge and reputation as a solid all-arounder.

10.                Merrill

In addition to first-rate customer investment services, high-quality third-party research, and zero commissions, Merrill Edge Self-Directed is a leading brokerage with other attractive benefits. If you are confused about this brokerage, I recommend you read “Start a New Real Estate Brokerage, Economically!“ on Amazon.

Additionally, there are a plethora of no-transaction-fee (NTF) options for mutual fund investors that are competitive with other major brokerage businesses. Merrill Edge Self-Directed provides thousands of NTF mutual funds. However, the Merrill Edge Self-Directed platform does not impose load requirements on many funds. There are minimal costs, good research offerings, and great customer service with Merrill Edge Self-Directed. All investors should consider this pro trading app, but those with Bank of America accounts will find it particularly appealing.

Do you have any more trading platforms up your sleeves? Let me know in the comments below and I’ll be sure to check it out!