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Although social investing in the UK has progressed greatly since its inception – particularly with regards to the ease of use of many-a social investing platform in the UK – it’s still something that many potential investors feel intimidated by.
Here, we aim to not only help you discover the finest social trading platform in the UK for all levels of expertise and all kinds of financial needs, but also to provide all the information you need regarding the legality, safety and practicality of copy trading in the UK. That way, you can manage your finances and investments with confidence.
Well, first things first, this article is focused on those looking for the best online social trading in the UK. Of course, there are always a great deal of similarities in trading across many parts of the world. Social trading USA, for instance, has the same core concepts, principles and risks as it does elsewhere. However, there are global distinctions in terms of safety and legality, which is why we recommend this look into the best online trading platform options and social investing in the UK to those from that jurisdiction.
Beyond that, our aim is to help anyone looking for the best social trading platform in the UK for them. Everything here is written with the aim that anyone – regardless of their experience of online social trading in the UK – can get started investing.
Remember, the idea behind copy trading in the UK, and everywhere else for that matter, is to allow new inexperienced investors to get involved by observing and mirroring the behaviour of successful traders. You shouldn’t need to be an expert to utilise a trading platform in the UK, and you don’t need to be an expert to utilise this comparison.
Do note too, that if you happen to be looking for something else – such as the best social trading in Malaysia, just as an example – there’s plenty more to check out here at TradersBest.
Before you look at what any social trading list in the UK has to offer, you must first check the legality of what you’re doing. Luckily, assuming you’re using a respected and safe social trading platform in the UK, this couldn’t be simpler.
In terms of the general legality of social investing in the UK, you can rest assured it’s entirely legal.
However, you do need to understand who regulates social trading in the UK and how that is defined by the relevant authorities to know precisely what form of trading is legal.
Social trading in the UK is regulated by the Financial Conduct Authority (FCA). What is considered copy trading in the UK or social trading allows investors to copy the trades of another investor. This can be done both through observation or automated. Mirror trading is very similar but can focus more on strategy.
However, that doesn’t necessarily mean every copy trading platform in the UK is legitimate. It means that any and all legitimate social trading platform in the UK must be regulated and authorised by the FCA to be considered legitimate.
The great thing about utilising a copy trading platform is that it intentionally makes trading as simple as possible. When you back that up with quality regulation, you have a situation where social or copy investments really are made simple and safe for anyone to use.
However, that doesn’t mean that certain precautions don’t need to be taken to ensure a safe trading experience, as well as ensuring you’re getting the best social trading platform in the UK for you. Here’s five key steps to create a fair copy trading in the UK experience:
Whether you’re looking for the best social trading in Canada or social investing in the UK, researching as much as you can about your investment choices and your chosen platform is always a good idea. That also goes for investments as straightforward and fuss-free as social trading.
The good thing about checking the security of your selected trading platform is that it’s always easy. If their security credentials are hard to find, it’s a red flag and you should move on. If the likes of encryption and regulation are all transparent, then it shouldn’t take you more than a couple of clicks.
Of course the quality of any trading platform doesn’t just come down to regulation – as vitally important as that may be. In order to investigate their quality further, you can look at professional reviews, user reviews and, of course, have a look around their platform for yourself.
The terms and conditions of anything essentially lays out the rules of using that service or product. Put simply, there’s no better way of understanding in-depth what is being offered and whether you’re being treated fairly than by looking through the terms for yourself. We do this before any review or recommendation, but you can go the extra mile and look for yourself if you wish.
No social trading platform in the UK can change the fact that all investments have their risks and limitations, even if these do vary greatly with the specifics. Be honest with yourself about these, as well as your technical knowledge when choosing a platform for investment. This will help you avoid unrealistic expectations and to keep your investments safe and responsible.
Here at TradersBest, we pride ourselves on helping people find their ideal social trading platform in the UK. But what exactly goes into our analysis of these platforms? Here’s five key criteria our experts abide by when testing brokers:
Copy trading in the UK should always be about making investments accessible to everyone. We always test for useability in any kind of review, but this is especially important for social trading.
Alongside a focus on useability, there’s our general tests regarding the functionality of the site/platform. The depth of the features, the quality of the site design, whether it’s available on mobile and whether everything works as it should on a technical level are all considered.
Having a broad variety of account types is another matter of accessibility. The more kinds of accounts aimed at different types of investors – from expert to newcomers, small investments to large, UK social trading to social investing in Australia – the more people can enjoy that platform.
In order to invest easily, you’ll need as broad a variety of safe payment methods as possible. Useability is vitally important here too.
No matter how good a platform is, no matter how well explained, sometimes things go wrong or further advice is needed. That’s why a quality customer service team is vital to our recommendations.
Discovering the right platform for you, despite all its intricacies, is essentially a two-part process. First, you need to find out which trading platforms are worth your consideration. That’s what this page and our reviews are all about helping you with.
After that though, you need to decide, amongst the best options out there, which is right for you. At this point, it becomes about personal needs and preferences, and that can be tricky.
With that in mind, here’s a few simple questions you can ask yourself to help find the right broker for you:
In order to make the most out of any kind of trading platform, you’ll need to know the type of things you can invest in. Here’s five examples available in the UK:
The most well-known method of investment is also one of the simplest. Investing in the stock markets is as simple as buying shares in a company through a trading platform or broker, and seeing profits if the value of that company increases. While straightforward in concept, being able to predict the success of businesses and industries is no doubt a talent.
These forms of digital currency don’t just make headlines: they make investment opportunities too. They’re not regulated by any government and utilise cryptography to secure transactions. Bitcoin is the most famous cryptocurrency, and its rise and falls have made it one of the most profitable and volatile investment opportunities out there.
This is similar to cryptocurrency trading in the sense that you’re attempting to predict the rise and fall of the value of various currencies. In this instance though, you’re trading one currency against another. It’s generally considered the most liquid asset market in the world.
One of the most complicated but interesting forms of investment, CFD refers to ‘contract for differences’. It means the buyer must pay the seller the difference between the current value of an asset and its value come the time of a contract. Only the difference in price between entry and exit time dictates the value of the contract. Interestingly, the CFD investor never actually owns the asset in question. They’re not legal in some countries like the USA, but are available in the UK.
An exchange-traded fund is a pooled investment security which can be purchased and sold on the stock market. It can be individual or diverse. They can contain all kinds of stocks, bonds and commodities.
Social investing in the UK really has never been easier. There’s an awesome selection of trading platforms out there suitable for everyone. We hope that our look at social trading platforms in the UK has helped reassure you of the quality out there and provide you with some tools to both find the right option for you and to make the most out of them. If you want to learn more about specific platforms, be sure to check out any of our reviews for the most comprehensive analysis of social trading platforms.
Before we deep dive into the subject of social trading platforms in the UK, we first must confront both the legality of this form of trading as well as its regulation. We know that only by ensuring a form of trading is legal and safe can we really analyse the quality of any platform. That’s why legality is a huge part of our social trading platform analysis for UK residents.
Your safety while investing comes first and foremost in our priorities when looking at social trading platforms in the UK. That’s why, as part of our comprehensive guide, we’ll also be providing a look at steps you can take personally to ensure your personal financial safety and fair treatment.
Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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