If you’re looking to trade online in the UK, there are several factors to consider. Firstly, you should only choose a platform that is regulated by the FCA (Financial Conduct Authority). This means your funds are held in segregated accounts and you have more protections against fraud on the part of the broker.
UK trading for beginners factors to look out for include the range of assets you can trade, education and support features, customer service options and account types. For example, IG has an extensive FAQs section and a number of live chat support teams. It also offers free educational materials, webinars and articles to help beginners with their trading strategies.
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Another good UK online trading platform is eToro. This offers zero-commission trading, great educational tools for beginners, a wide variety of asset classes, and more. The site also has a number of useful features, including market news and insights.
While day trading and other short-term strategies are increasingly popular, many traders still prefer to make long-term investments. For this reason, you should check whether a platform supports ISAs and CFDs. You should also check if the broker has a good reputation in the industry.
Finally, you should always remember that trading is risky. You can lose more than your initial investment, so it’s important to research any potential investments before making a decision. It’s also a good idea to diversify your portfolio, as this can help minimise risk. And don’t forget to set a budget and stick to it!