Selecting an online trading platform can feel a bit like browsing a busy supermarket shelf – everything looks similar at first glance, but you don’t really know what you’re getting until you get home and open it.
The rise of online trading has made things amazingly accessible. But with so many options, it can feel overwhelming. Therefore, it might help to think about what really matters to you before committing. Here are some of the main considerations:
Range of investments
A good place to start is investment choice. Some UK investment platforms specialise in simple share trading or a narrow range of their own investments. While others, such as Charles Stanley Direct, open the door to the global market with thousands of shares, funds, exchange traded funds (ETFs), bonds and investment trusts.
The key is knowing whether you're mainly aiming to buy and sell shares, explore a wide range of investments, or simply build wealth over the long term with minimal fuss.
You’ll also want to consider how you want to hold these investments, using a Stocks & Shares ISA, Junior ISA or Self-Invested Personal Pension (SIPP) wrapper to keep things tax efficient, or a General Investment Account (GIA) – or a combination. Platforms usually support all these account types, but it’s not a given.
Charges and fees
Charges are another area where things get more complicated than they first appear. When choosing which platform to invest with, many people compare the headline platform fees or trading fees – but that’s not the whole picture. The cheapest platform for you will come down to the size of your accounts, the mix of investments you hold, how frequently you trade, and to what extent you’re able to consolidate with one provider.
There are multiple ways platforms charge. Often it’s on a percentage basis or a fixed fee – or a combination of both. And because anyone can lose money when investing – particularly during a volatile market – keeping costs down can make a big difference, especially over the long term. A fixed fee or percentage fee with a cap tends to be efficient for larger portfolios (say more than £30,000), whereas a low percentage charge with no minimum is generally cheaper for smaller ones.
It’s also worth paying attention to how the fees are applied. Is it on a per account basis (i.e. ISA, SIPP and GIA charged separately)? Or, do you benefit from the amalgamated value? Similarly, are funds treated differently to shares?
A lot of platforms charge on a per-account basis. Whereas, with Charles Stanley Direct, we apply a fee cap across our clients’ accounts combined. This can potentially result in a huge saving. We also don’t separate charges on asset types so all investments come under the same percentage-based charging structure that never exceeds a £600 annual maximum charge. There's even £100 of trades each year included in that deal, which can mean excellent value for customers with larger account sizes and making a moderate level of share and fund transactions.
Find out more: Bringing your investments under one roof could save more than you think
Execution
Execution quality for share dealing is often overlooked but makes a meaningful difference, especially for active traders investing in large quantities. In particular, if you’re looking for good, real-time execution of share trades, beware providers that delay them to bulk an investor’s ‘commission-free’ deal with others. And for a top-notch dealing service that can give the best possible price for a share at any given moment, use an established stockbroker that can route share orders through a wide variety of market makers.
Charles Stanley is committed to getting our clients the best possible results when we execute orders, ensuring pricing is handled in their best interests. Our experienced dealing team follows a strict Order Execution Policy, using a broad network of market counterparties and modern trading venues, all under strong oversight to maintain high standards and continuity of service.
Find out more: Charles Stanley's Order Execution Policy
Customer service
Customer service may not be glamorous, and you might not even think about it until you need it, but it’s incredibly important. When choosing between the best UK trading platforms, there can be a big difference between ones with responsive teams who can guide you expertly through account queries versus those who offer less human interaction.
You may never need much personal support, but when you do – perhaps when transferring a Shares ISA or navigating a corporate action – you’ll be grateful if your platform treats customer care as a core part of its service.
Our Helpdesk team, based in Edinburgh, take huge pride in helping our clients at every step in their financial journey. It’s why they’ve won several accolades for outstanding service over the years. Some have worked for Charles Stanley for decades, which means that whatever your question there’s likely to be someone on hand with direct knowledge and experience.
Interface
No decision about platforms is complete without thinking about usability. Some people prefer a desktop dashboard, full of tools and data, while others want an intuitive app that lets them check their portfolio with just a few taps.
If you expect to trade on the move, a strong mobile experience matters. If you plan to analyse markets in detail or manage a significant portfolio, the desktop version might sway you more. The best platforms offer a robust and smooth experience across devices so you can act quickly whether you’re at your desk or waiting for a train.
Other services
Finally, it’s worth checking what else a platform offers beyond the basics of share and fund dealing. Are you able to speak to an expert or get extra in-depth advice under the same roof?
Charles Stanley is well known for high-quality wealth management and financial planning services, but that may not be needed if you just need a quick sounding board. Through Charles Stanley Direct, you can also speak to a Financial Coach – who is a qualified financial adviser. They can help you gain insights and understanding of your financial situation, or talk through a particular problem or quandary, so you can move forward with confidence. You can book a free 15-minute appointment online with each hour after that charged at £150.
Find out more: UK platforms compared by Good Money Guide
Nothing on this website should be construed as personal advice based on your circumstances. No news or research item is a personal recommendation to deal.
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