Options trading is a way for investors to bet on the future direction of the stock market as a whole or specific instruments such as stocks or bonds.
Options contracts allow you the option to buy or sell an underlying asset at a particular price by a specified date, but not the responsibility to do so.
List of the Top 10 Best Apps For Options Trading In Uk
When it comes to options brokers in the United Kingdom, there are several possibilities. However, not all brokers and platforms are created equal, so it’s important spending the time to figure out which one is ideal for you and your trading style.The following are the list of 10 best apps for options trading in uk
1.Degiro
Pros
- Regulated by BaFin and FCA
- There is No minimum deposit
- Low trading fees
- No withdrawal fee
- No deposit fee
- Web platform and mobile app are user-friendly
Cons
- No credit or debit card deposits
- Lacking educational resources
- No demo account
- No forex, CFDs or crypto
- No customer support on weekends and no live chat
Best for: Low costs
Fees:Users’ trading fees are considered to be low. There is no inactivity fee, no withdrawal cost, and no minimum deposit requirement.
Degiro, a privately held discount broker based in the Netherlands, is noted for providing a low-cost broker platform.
The FCA regulates and authorizes the platform in the United Kingdom, and it is known for having one of the lowest fees in the industry.
2.IQcent.com
Pros
- Low minimum deposit
- Copy trading available
- User-friendly interface
Cons
- Lacks regulation
- Withdrawals can be difficult
- Limited chart tools and lacks educational resources
Best for: Beginner’s journey.
A well-known trading platform for binary options and CFDs. It uses a number of different payment gateways to make payments and withdrawals as simple as possible.
Because the platform is user-friendly, it is simple to create an account in seconds. Trading can begin as soon as the initial investment is made.
3.XTB
Pros
- Regulated by the FCA
- Low forex fees
- Fast withdrawal and deposit with no fee
- Live chat customer service
Cons
- No US clients
- Limited product portfolio
- High fees for stock CFDs
XTB is both well-regulated and registered on the stock exchange, making it a reliable broker. The registered office is at London’s Canary Wharf.
XTB allows investors and traders to trade commodities, equities, metals, FX, indices, and cryptocurrencies, as well as ETFs and CFDs, and it is regulated by the FCA, CySEC, IFSEC, and KNF in top-tier jurisdictions.
Traders can quickly register an account online and choose between a commission-free Standard account or a Pro account with tighter spreads, although commissions must be paid on all trades.
4.Binarycent.com
Pros
- Low minimum deposit
- Small minimal trade size
- Copy trading
Cons
- Lacks regulation
- Withdrawals can be difficult
- Lacks research and educational resources
Best for: Allows you to trade with very small amounts. Good for beginners.
Besides the fact that this platform is very friendly for beginners since it allows you to trade in cents, it has made a name for itself as a stable platform.
The minimum deposit is $250, which is a little sum considering that you can trade for as little as $1 and 1 cent every trade.
The withdrawal process can take up to an hour and there are several options for withdrawal.
Copy trading is a function that allows beginners to learn how professionals trade by copying them.
- Weekly Competition It not only piques your interest in trading, but you’ll also benefit from great benefits for your account, such as deposit bonuses and risk-free trades, which means you won’t lose any money on lost trades.
Overall, the platform shows itself to be a decent broker. It makes you feel comfortable having your money with Binarycent.
5. Raceoption.com
Pros
- User-friendly interface
- Copy trading available
Cons
- Lacks regulation
- Lacks research and educational resources
Best for: Weekly contest with highest bonuses.
Since its inception in 2014, the trading platform has established itself as a well-known brand among binary options traders. Raceoption’s mission has always been to provide a safe and secure environment for traders to trade binary options.
6.Tastyworks
Pros
- Great set of tools designed for frequent traders
- Key analytics built into software so it’s easier to see the probability of success when trading
- Customisable platform with real-time quotes
Cons
- Platform can seem a little overwhelming at first, especially for newer traders
- Bonds and CFDs aren’t available
- Portfolio analysis needs to be done on a separate website
Best for: Options trading
Fees: The website has a one-of-a-kind fee structure in place, with opening trades costing $1 per contract and closing deals costing nothing.
Tastyworks is a trading platform created with active traders in mind. The platform’s tools are all meant to make it easier to focus on liquidity, likelihood, and volatility.
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7.Webull
Pros
- Commmission-free US-listed stock, ETF and options trades
- Fractional shares and cryptocurrency
- No minimum deposit
- Member of FINRA, SIPC, NASDAQ and NYSE
- Advanced charting
- No inactivity fee
- Great mobile platform
Cons
- Deposit and withdrawal fees for wire transfers
- Lacks educational and research resources
- No mutual funds or forex
- Does not provide interest on uninvested cash
- Average customer support
Webull is a Chinese firm with offices in both China and New York that provides a trading platform for stocks, options, and ETFs.
This community-driven platform focuses on providing an excellent mobile trading experience, with modern web, desktop, and mobile interfaces that provide a consistent user experience.
Webull does not have a minimum deposit requirement and does not impose fees for withdrawals or deposits made by wire transfer.
Stocks, options, and ETFs have no commissions, and options have no contract fees.
Webull makes its money through interest rates on margin accounts, and these range from 3.99% up to 6.99% depending on trading volume.
The web and desktop platforms are similar in layout and are quite simple to customise so users can create an interface that works for them.
There are charting tools available, and a unique ‘Market Replay’ feature that can show the market activity over a certain time frame.
8.Interactive Brokers
Pros
- Regulated
- Wide range of offerings
- Low commission
- Socially responsible
- 24/5 customer support across multiple channels
Cons
- No additional platforms
- Inactivity fees
Best for: Low margin rates and professional traders
Fees: Interactive Brokers was once recognized as a low-cost broker, with the reduction or elimination of most major brokers’ fees, they have become a more expensive alternative when it comes to trading. The pricing structure is pretty complicated, but there is a comprehensive guide on their website that makes the procedure a little easier to follow.
Interactive Brokers combines high-quality tools, a wide range of asset classes, and cheap fees. There are a variety of tools available for investors, as well as an impact dashboard that can be used to make tracking simpler and easier for consumers.
9.eToro – Best Overall
Pros
- Copy-trading and discussion boards
- Personalized news feed
- Very easy to use
- Full trading app functionality
- Low initial deposit requirement
Cons
- No biometric ID login
- Limited charting tools
- No analyst recommendations
Copy-trading is a unique feature of eToro. By pressing a button on the platform, you can follow skilled traders and imitate all of their deals. This is an excellent introduction to investing for novices who lack the courage to make risky decisions on their own.
10.Plus500 – one of the best CFD brokers for seasoned traders.
Pros
- Easy to navigate
- Many alert types
- The “Trader Sentiment” feature
Cons
- Basic charting and analysis tools
- No direct ownership—stocks are only traded through CFDs
Plus500 is a user-friendly program with a logical workflow and a plethora of features geared toward active traders. You can use the platform’s search feature to find what you’re looking for, and you can customize your experience with a variety of market, limit, stop, and trailing stop orders.
Users can set up email, SMS, and notification alerts that appear on their phone screens, allowing them to remain on top of changing markets without having to keep track of everything manually. Traders can also use the “Trader Sentiment” feature, which shows what other traders are trading and thinking about.
FAQ
Can I trade options in the UK?
Yes
Which trading app is best for option trading?
The list detailed above looks at some of the best options currently available, but eToro are generally considered to be the market leaders.
What platforms allow options trading UK?
- etoro
- Degiro
- IQcent.com
- XTB.
- Webull
- Binarycent.com
- Raceoption.com
- Tastyworks.
- Plus500
- interctive broker
Which trading app is best for beginners UK?
Capital.com is the best trading app UK for beginners because it has a very clean interface which makes it easy for novices to find stocks in which they want to invest their money. More experienced traders will search for more advanced apps as they require more information.
Can I use Robinhood in UK?
No – Robinhood is yet to launch in the United Kingdom. Because of the turbulence in the markets, the company just declared that it will postpone its entry into the UK “indefinitely.” Interactive Brokers is a solid option for trading US stocks from the UK.
Is Tastyworks available in UK?
Yes
Can I use IQ option in the UK?
No – IQ Option does not accept clients from the UK. In this event, we recommend that traders looking for a broker similar to IQ Option review either eToro or FXCM.
A CySEC-regulated broker, IQ Option appeals to beginners with its unique bespoke social trading platform, low minimum deposits, and excellent trading conditions.
Conclusion
Options trading can be a good investment with the best trading platform. The best brokers for options trading all have excellent features with a wide range of offerings and trading tools that will help you manage your activities.In addition, they have reliable mobile apps to keep you engaged even while on the move.
About Author
- I’m a firm believer that information is the key to financial freedom. On Coindecimal Blog, I write about personal finance and crypto.
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