Investors can bet on the stock market’s future direction as a whole or particular security like stocks or bonds by trading options. Options contracts give you a choice but not the responsibility to buy or sell an underlying asset at a specific price by a given date. This article will review the 10 best apps for options trading in the UK for 2023. Let’s get going.
Options Trading typically entails purchasing and selling contracts that grant you the choice to purchase another item (for instance, stocks). You aren’t required to, though. You have previously determined the amount of the asset sold or purchased with each contract. Additionally, contracts have expiration dates.
List of the Top 10 Best Apps for Options Trading in the Uk
There are several choices available when looking for options brokers in the UK. It’s essential to take the time to determine which brokers and platforms are best for you and your trading style because not all of them are made equal. The 10 best apps for options trading in Uk are listed below.
Degiro: Best for low costs
One of the best apps for options trading in the Uk is Degiro, a privately owned discount broker with headquarters in the Netherlands and a reputation for offering a cheap broker platform.
- BaFin and FCA Regulated.
- No minimum deposit requirement.
- They charge low trading fees.
- They charge no withdrawal fee.
- Does not require a deposit fee.
- The web platform and mobile app are user-friendly.
- Credit or debit card deposits are not accepted.
- It lacks educational resources
- There is no demo account.
- No forex, CFDs or crypto,
IQcent.com: Best for Beginner’s journey.
IQcent is one of the best apps for options trading in the UK, well-known for binary options and CFDs. It uses many different payment gateways to make payments and withdrawals as simple as possible.
- Low minimum deposit.
- Copy trading is available.
- The interface is user-friendly.
- No regulation
- Withdrawals can be difficult.
- It has limited chart tools and needs more educational resources.
Properly regulated and listed on the stock market makes XTB a trustworthy broker. The legal office is in Canary Wharf, London. XTB, governed by the FCA, CySEC, IFSEC, and KNF in prestigious jurisdictions, enables investors and traders to exchange commodities, equities, metals, cryptocurrencies, FX, indices, and other financial instruments.
- Regulated by the FCA
- It charges low forex fees.
- The withdrawal and deposit are fast at no cost.
- They operate live chat customer service.
- They have a Limited product portfolio.
- Charges high fees for stock CFDs.
Binarycent.com: Best for trading with very small amounts.
Overall, the platform demonstrates that it is a reputable broker. Having your money with Binarycent gives you confidence. Allows trading in cents and has established a reputation as a reliable site.
- The minimum deposit is low.
- Small minimal trade size.
- Copy trading
- Lacks regulation
- Withdrawals can be difficult
- It lacks research and educational resources
Raceoption.com: Best for weekly contests with the highest bonuses.
The trading site has made a name for itself among binary options traders since its launch in 2014. The goal of Raceoption has always been to give traders a secure atmosphere to trade binary options.
- The interface is user-friendly.
- Copy trading is available.
- It lacks regulation.
- It needs more research and educational resources.
Tastyworks: Best for Options trading
A trading platform called Tastyworks was developed with active traders in mind. All of the platform’s instruments are designed to make it simpler to concentrate on volatility, likelihood, and liquidity.
- There are Great sets of tools created for frequent traders.
- The software has key analytics built in to make it easier to see the likelihood of trading success.
- Customizable platform with real-time quotes
- The platform can seem a little overwhelming at first, especially for first-time traders
- Bonds and CFDs are not offered.
- Bonds and CFDs are not provided. Portfolio analysis must be done on a different website.
Webull, a Chinese company located in China and New York, offers an online trading platform for stocks, options, and ETFs. Modern web, desktop, and mobile interfaces deliver a consistent user experience, so they prioritize offering an excellent mobile trading experience.
- Fractional shares and cryptocurrency
- There is no minimum deposit
- Member of FINRA, SIPC, NASDAQ and NYSE
- No inactivity fee
- There are deposit and withdrawal fees for wire transfers
- Lacks educational and research resources
- No mutual funds or forex.
Interactive Brokers: Best for low-margin rates and professional traders
High-quality tools, a broad selection of asset classes, and affordable costs are all combined by Interactive Brokers. Investors can access many tools, and consumers can use an impact dashboard to make tracking straightforward and more accessible.
- It is regulated
- It has a wide range of offerings
- The commission is low.
- 24/5 customer support across many channels
- No additional platforms.
- It charges inactivity fees.
eToro – Best Overall
One distinctive aspect of eToro is copy-trading. You can imitate all trades experienced traders make by clicking a button on the website. This is an excellent introduction to the subject for those new to investing who lack the confidence to make risky choices.
- Copy-trading and discussion boards
- Personalized news feed
- It is straightforward to use
- Full trading app functionality
- The initial deposit requirement is low.
- No biometric ID login
- There are limited charting tools
- No analyst recommendations
Plus500 – one of the best CFD brokers for seasoned traders.
Plus500 is a user-friendly program designed for active traders with a logical workflow and many features. Use the platform’s search function to find what you’re looking for, and use a variety of market, limit, stop, and trailing stop orders to make your experience more personalized.
- It is easy to navigate
- Different alert types
- The “Trader Sentiment” feature
- Basic charting and analysis tools
- No direct ownership—stocks are only traded through CFDs
The best people for options trading have a strong background in stock trading. Options trading may operate similarly to stock trading but is more sophisticated, complicated, and manoeuvrable. We trust this article on the 10 best apps for trading options in the UK was a helpful introduction to the 10 best apps. Post a remark for us.