How do the top trading platforms for investors in the UK compare?

Trading platforms have been evaluated for fees, available investment options, and service quality; the top platforms for each category of client have been ranked

Millions of investors use trading platforms in the UK to access international stock markets. The most costly, the best for customer service, and the most suitable for high volume traders have all been ranked by recent analysis.

Instead of going through a traditional stockbroker or financial advisor, the new wave of do-it-yourself investors can purchase and sell shares, funds, investment trusts, and exchange-traded funds (ETFs) directly through a trading platform.

In the UK, there are at least ten major platforms for investing; the trick is to pick one that offers a wide variety of investments, competitive trading and platform fees, and excellent customer support.

"Since the pandemic, over ten million do-it-yourself accounts have been opened in the UK, which has led to an increase in the number of trading platforms, with app-based challengers now competing with traditional providers," stated Jo Groves, investment specialist at Kepler Partners, which has analyzed and ranked the major investment platforms in the UK.

Selecting the best platform for your requirements is essential, but it can be a daunting task. Our rankings assist individual investors in determining the factors that are most important to them, such as price, investment options, or first-rate customer support.

In a different piece, we examine the top investment platforms for novices.

What are the fees for investing platforms?

For investors, fees and investment costs are frequently the most crucial factors. A small percentage point difference in fees might not seem like much, but over time, it can add up to thousands of pounds and seriously reduce the value of portfolios.

With a zero-platform fee provider, for instance, £50,000 growing at a rate of 10% annually would be worth about £336,00 after 20 years. According to Kepler's calculations, however, a platform that charges 0 percent annually would yield nearly 30,000 less because fees gradually reduce returns.

Over 50,000 customers use Bestinvest, which is owned by wealth manager Evelyn Partners. It also provides Junior ISA, SIPP, and an investment account.

More than 1,200 shares from the US and the UK, 1,700 funds, 500 exchange-traded funds, and 230 investment trusts are available to clients. Fractional shares are not available.

Bestinvest charges a competitive fee for trading UK shares and no fee for trading US shares, but it does not charge a trading fee for funds. There is a 0 percent foreign exchange fee.

The platform fee, which is 0.2 percent for investors wishing to own US shares, is also more affordable than the 0.4 percent fee for UK shares and funds (on the first 250,000), which taper to 0 percent for larger amounts.