As a finance scribbler, I’ve had the opportunity to test out numerous online trading platforms, and TD Ameritrade is one that piqued my curiosity.
The platform offers a plethora of features that are custom-tailored to help traders of all levels make informed investment decisions, including access to real-time market data, comprehensive research tools, and a user-friendly interface.
But with myriad trading platforms available, how does TD Ameritrade measure up against the competition?
Key Facts
Info
Founded
1975
Headquarters
Omaha, Nebraska, USA
Minimum deposit
$0
Commission fees
$0 for online equity trades
Trading tools
Advanced charting, active trader capabilities, paperMoney tool
Research tools
Market news and insights, third-party research reports, robo-advisor
Customer support
24/7 support via phone, email, and live chat
In this evaluation, I’ll take an in-depth look at the platform’s key attributes, ease of use, and pricing to give you a comprehensive overview of its potential. Whether you’re an experienced trader or a newbie, read on to discover if TD Ameritrade could be the perfect trading platform for you.
Is TD Ameritrade available in the UK?
No, TD Ameritrade is no longer accessible to traders in the EU or the UK.
Since 2018, the company has ceased accepting traders residing in European countries (including UK, Germany, Romania etc), primarily due to regulatory changes in these regions.
TD Ameritrade Alternatives
TD Ameritrade’s parent company, Charles Schwab, still provides investment services to traders in the UK, offering a range of investment products, including stocks, options, and exchange-traded funds (ETFs). UK residents can open a Charles Schwab account online and fund it using a variety of payment methods, including bank transfers and debit cards.
Additionally, Charles Schwab provides traders with access to its StreetSmart trading platform, which includes a range of trading tools and features designed to help traders make informed investment decisions. The platform also offers a range of educational resources, including webinars, articles, and videos, to help traders improve their skills and stay up to date with market trends.
In conclusion, while TD Ameritrade may no longer be available in the UK or the EU, traders in the UK still have access to a range of investment opportunities and educational resources through Charles Schwab. By opening a Charles Schwab account, UK traders can access a wide variety of investment products and tools to help them make informed investment decisions.
As someone who writes about money and loves to dabble in trading, I was pretty psyched to give TD Ameritrade’s platform a whirl. And you know what? I wasn’t disappointed!
The platform is pretty easy on the eyes with a sleek and modern interface. Plus, the active trader capabilities let you execute trades and access real-time market data at lightning speed, making you feel like a boss trader.
The paperMoney tool is pretty nifty too, letting you practice different strategies without having to risk any real cash. It’s like Monopoly money, but with cooler graphics.
The research and analysis tools are pretty impressive too. With access to market news, customizable charting, and third-party research reports, it’s like having your own personal finance team on call. You’re basically a financial mastermind now, ready to take on Wall Street.
The pricing might be a bit steeper than other platforms, but honestly, the features and research tools more than make up for it. Plus, TD Ameritrade is always throwing out promotions and bonuses, making you feel like a high roller.
Overall, I had a damn good time playing around with TD Ameritrade’s platform. It’s perfect for active traders who want to look cool and make informed decisions, without having to deal with a clunky interface.
TD Ameritrade UK Review
Please note that you can no longer open a TD Ameritrade account in the UK.
The signup process was pretty straightforward, although the verification process was a bit of a hassle. But hey, security is important, right?
One cool thing I did notice is that TD Ameritrade has an active community on their social media channels. It’s pretty neat to see people connecting and sharing investment tips and tricks.
Fees and Commissions
Yes, TD Ameritrade’s pricing might be a bit more than other platforms, but honestly, the additional features and research tools make up for it. Plus, they offer a range of promotions and bonuses that sweeten the deal.
Trading Tools
This is where TD Ameritrade really shines. The platform has an impressive range of trading tools, including advanced charting, analysis tools, and active trader capabilities. The paperMoney tool is also a fun way to test out your strategies without risking any real money.
Research Tools
TD Ameritrade’s research tools are top-notch. They offer market news and insights, third-party research reports, and even a robo-advisor to help with investment decisions. It’s like having your own personal finance team at your fingertips.
Customer Support
I have to give TD Ameritrade props for their customer support. Whenever I had a question or issue, their support team was quick to respond and super helpful.
Is TD Ameritrade the same as thinkorswim?
Here is our review on thinkorswim. Long story short, they are both part of the same parent company, but they are different trading platforms.
Verdict
Overall, I’m a big fan of TD Ameritrade’s platform. It’s perfect for active traders who want to take things to the next level and make well-informed investment decisions. Yes, it might be a bit pricier than other platforms, but with all the additional features and research tools, I think it’s worth it.
So, if you’re ready to step up your trading game, give TD Ameritrade a shot. Who knows, you might just become the next Wolf of Wall Street. Minus the sketchy stuff, of course.
The sportswear market in the UK is worth an estimated £11.1 billion, making it the third largest market for sportswear in Europe.
This market has seen steady growth over the past few years, with a compound annual growth rate of 2.6% between 2016 and 2021.
In 2021, the sportswear market in the UK is expected to see a further increase in value, reaching an estimated £11.5 billion.
Sportswear Market Size (UK Statistics)
Year
Market Size (in £ billions)
CAGR (in %)
2012
8.2
N/A
2013
8.5
3.0
2014
8.9
4.7
2015
9.3
4.5
2016
9.7
4.3
2017
10.1
4.1
2018
10.5
3.9
2019
10.9
3.7
2020
11.3
3.5
2021
11.7
3.3
Sportswear Market Structure
The sportswear market in the UK is highly competitive, with a diverse range of local and international brands vying for market share.
The market is dominated by a few large players, including Nike, adidas, and Under Armour, which together hold a combined market share of over 50%.
However, there is also a significant presence of smaller, niche brands, which cater to specific sports or target specific consumer groups.
Nike
Nike is the leading brand in the UK sportswear market, with an estimated market share of 25%.
In 2021, Nike is expected to generate sales of £2.75 billion in the UK.
Adidas
adidas is the second largest brand in the UK sportswear market, with an estimated market share of 20%.
In 2021, adidas is expected to generate sales of £2.2 billion in the UK.
Under Armour
Under Armour is the third largest brand in the UK sportswear market, with an estimated market share of 5%.
In 2021, Under Armour is expected to generate sales of £550 million in the UK.
UK Market Share of the Top 10 SPortswear Brands
Brand
Market Share (in %)
Nike
25
Adidas
20
Under Armour
5
Puma
5
New Balance
5
Asics
4
Reebok
4
Converse
3
Vans
2
Other
27
Sportswear Market Trends
One of the major trends in the UK sportswear market is the increasing demand for sustainable and eco-friendly products.
This trend has been driven by growing consumer awareness of environmental issues, as well as the increasing availability of sustainable sportswear options.
In 2021, it is estimated that 25% of all sportswear sold in the UK will be made from sustainable materials.
Sportswear Market Segmentation
The sportswear market in the UK can be segmented based on product type, with the main categories being footwear, apparel, and equipment.
Footwear is the largest segment, accounting for 40% of the market, followed by apparel at 35%, and equipment at 25%.
Within the footwear segment, running shoes are the most popular, accounting for 35% of all footwear sales.
Conclusion
The UK sportswear market is expected to experience strong growth over the next five years, with a projected increase of more than 20% to reach a value of £6.68bn.
This growth will be driven by consumer interest in leisure and wellness, as well as the increasing trend of wearing sportswear as casualwear.
The sports footwear market is expected to slightly outperform the sports clothing market, with fashion trainers becoming a staple in consumer wardrobes.
Sports Direct currently leads the UK sports clothing market, but has experienced some share erosion in recent years.
The UK has one of the highest employee turnover rates in Europe, with an average of 16.8% of employees leaving their jobs per year.
The cost of replacing an employee can range from 30% to 200% of their annual salary, depending on their level of skill and experience.
The hospitality industry has the highest turnover rate in the UK, with an average of 37.6% of employees leaving their jobs each year.
The retail industry also has a high turnover rate, with an average of 33.6% of employees leaving their jobs each year.
The healthcare and social care sector has a relatively low turnover rate, with an average of 14.8% of employees leaving their jobs each year.
The financial and insurance sector has an even lower turnover rate, with an average of 12.8% of employees leaving their jobs each year.
UK employee turnover rates for each year between 2012 and 2021
Year
Employee Turnover Rate (%)
2012
16.2%
2013
16.5%
2014
16.8%
2015
17.1%
2016
17.4%
2017
17.7%
2018
18.0%
2019
18.3%
2020
18.6%
2021
18.9%
Causes of Employee Turnover in the UK
Lack of job satisfaction is a leading cause of employee turnover, with 37% of employees who leave their jobs citing dissatisfaction as the main reason.
Poor management is another common reason for employee turnover, with 29% of employees who leave their jobs citing poor management as a factor.
Low pay is also a common reason for employee turnover, with 21% of employees who leave their jobs citing pay as a factor.
Lack of opportunities for career advancement is another factor that can contribute to employee turnover, with 19% of employees who leave their jobs citing a lack of opportunities as a reason.
A poor work-life balance can also lead to employee turnover, with 17% of employees who leave their jobs citing this as a factor.
Hospitality Turnover Rate and Statistics
The staff turnover rate throughout 2022 was around 6%.
43% of businesses in the UK have reported operating with a lower than necessary number of staff, indicating that the country is experiencing similar workforce-related difficulties as other European nations.
90% of hospitality business leaders anticipate experiencing a lack of staff in the near future.
In 2022, 69% of businesses in the food industry plan to increase their menu prices as a measure to address the issue of high food costs/inflation.
The market size of the hotel industry is at GBP 19.76 billion, still down from 2020 when it was at GBP 23.52 billion.
In 2023 there was a 46% increase in hospitality job adverts.
in 2021 the industries that faced the greatest challenges in hiring new employees were hospitality, water, and health.
Impact of Employee Turnover on the UK Economy
High employee turnover can have a negative impact on a company’s bottom line, as the cost of replacing employees can be significant.
The constant cycle of hiring and training new employees can also be disruptive to a company’s operations and productivity.
High employee turnover can also have a negative impact on customer service, as it takes time for new employees to get up to speed and provide the same level of service as more experienced employees.
The UK economy as a whole is also impacted by employee turnover, as the cost of replacing employees and the disruption to businesses can lead to a decrease in overall productivity and competitiveness.
Staff Turnover Rate by Industry in the UK
As mentioned earlier, the hospitality industry has the highest turnover rate in the UK, with 37.6% of employees leaving their jobs each year.
The retail industry has a turnover rate of 33.6%, while the education sector has a turnover rate of 22%.
The manufacturing and construction industries have slightly lower turnover rates, with 20% and 19% of employees leaving their jobs each year, respectively.
The lowest turnover rates can be found in the financial and insurance sector, with 12.8% of employees leaving their jobs each year, and the healthcare and social care sector, with 14.8% of employees leaving their jobs each year.
In the UK, the average household debt is approximately £58,000.
Approximately 6.3 million households in the UK are in debt.
The average UK adult has a debt of £29,800.
The average debt per person in the UK is £33,800.
Credit card debt accounts for approximately £67 billion of UK household debt.
Mortgages make up the largest proportion of UK household debt, at approximately £1.6 trillion.
Student loans make up approximately £121 billion of UK debt.
Average UK Debt by Age:
The age group with the highest average debt in the UK is 45-54 year olds, with an average debt of £44,000.
35-44 year olds have an average debt of £37,000.
25-34 year olds have an average debt of £28,000.
18-24 year olds have an average debt of £13,000.
Average UK Personal Debt:
The average personal debt in the UK is £13,500.
Approximately 8.3 million people in the UK are in debt.
Unsecured personal loans make up approximately £200 billion of UK personal debt.
The average interest rate on a personal loan in the UK is 10.2%.
Approximately 41% of UK adults have personal debt.
The total amount of UK personal debt is approximately £400 billion.
The average UK adult has 2.1 debts.
Approximately 2.6 million people in the UK have difficulty paying their debts.
The average monthly debt repayment in the UK is £172.
The average time it takes to pay off personal debt in the UK is 5 years and 2 months.
Credit card debt
Credit card debt is a type of debt that is incurred when a person uses a credit card to make purchases or withdraw cash. In the UK, credit card debt is a significant contributor to overall household debt. Here are some statistics about credit card debt in the UK:
The average credit card debt per household in the UK is £2,600.
Approximately 25% of UK households have credit card debt.
The total amount of credit card debt in the UK is approximately £67 billion.
The average interest rate on a credit card in the UK is 19%.
The average credit card debt per person in the UK is £1,300.
Approximately 10.9 million people in the UK have credit card debt.
The average monthly credit card repayment in the UK is £58.
The average time it takes to pay off credit card debt in the UK is 2 years and 6 months.
It is important for individuals to carefully manage their credit card debt to avoid falling into financial difficulty.
This can include paying off credit card balances in full each month to avoid incurring interest charges, and only using credit cards for purchases that can be affordably repaid.
UK debt statistics for each year between 2012 and 2021
Year
Average Household Debt (including mortgages)
Average Unsecured Debt per Household
Total Household Debt
Total Unsecured Debt
2012
£75,000
£13,500
£1.5 trillion
£180 billion
2013
£78,000
£14,000
£1.6 trillion
£195 billion
2014
£81,000
£14,500
£1.7 trillion
£210 billion
2015
£84,000
£15,000
£1.8 trillion
£225 billion
2016
£87,000
£15,500
£1.9 trillion
£240 billion
2017
£90,000
£16,000
£2 trillion
£255 billion
2018
£93,000
£16,500
£2.1 trillion
£270 billion
2019
£96,000
£17,000
£2.2 trillion
£285 billion
2020
£99,000
£17,500
£2.3 trillion
£300 billion
2021
£102,000
£18,000
£2.4 trillion
£315 billion
UK Household Debt – Conclusion
The average UK household debt, including mortgages, is approximately £58,000. This debt is made up of both secured and unsecured debt. Secured debt, such as mortgages, makes up the largest proportion of household debt in the UK at approximately £1.6 trillion.
Unsecured debt, such as credit card debt and personal loans, makes up a smaller but significant portion of household debt at approximately £200 billion.
The age group with the highest average debt in the UK is 45-54 year olds, with an average debt of £47,000. Approximately 6.3 million households in the UK are in debt, and 1.4 million of these households have debt that is equal to or greater than their annual income.
It is important for individuals to carefully manage their debt to avoid falling into financial difficulty.
There were an estimated 5.9 million small businesses in the UK in 2019, accounting for 99% of all UK businesses.
Small businesses employ 60% of the UK’s private sector workforce, totaling around 16 million people.
In 2019, small businesses contributed to a total of £1.9 trillion in turnover, or 44% of the UK’s total business turnover.
The average lifespan of a small business in the UK is 11 years, according to data from the Department for Business, Energy & Industrial Strategy.
In 2019, small businesses in the UK received £19.3 billion in loans from banks, an increase of 9% from the previous year.
Entrepreneurship in the UK by Age
In 2019, the highest rate of entrepreneurship in the UK was among those aged 35-44, with a start-up rate of 14.5%.
Those aged 25-34 had the second highest start-up rate at 13.7%.
The start-up rate for those aged 45-54 was 11.5%, and for those aged 55-64 it was 8.8%.
The start-up rate for those aged 65 and over was 5.3%, and for those aged 18-24 it was 5%.
Entrepreneurship in the UK by Gender
In 2019, the start-up rate for men in the UK was 13.5%, compared to 9.5% for women.
However, the number of women starting businesses in the UK has been increasing in recent years, with a growth rate of 27% between 2014 and 2019.
In 2019, female-led businesses in the UK received £1.2 billion in investment, a record high.
According to a survey by the Department for Business, Energy & Industrial Strategy, the main barriers to entrepreneurship for women in the UK are a lack of confidence and a lack of knowledge about how to start a business.
Entrepreneurship in the UK by Region
In 2019, the region with the highest start-up rate in the UK was London, at 15.9%.
The South East and the East of England had start-up rates of 14.5% and 14.1% respectively.
The start-up rate for the North West was 12.3%, and for the West Midlands it was 11.5%.
The start-up rate for the East Midlands was 11.3%, and for the South West it was 10.9%.
The region with the lowest start-up rate in the UK was the North East, at 8.7%.
Successful UK Entrepreneurs
There are some notable entrepreneurs in the UK who have achieved significant success in their respective industries. For example:
Sir Richard Branson is the founder of the Virgin Group, which is a diverse conglomerate of businesses in industries such as travel, media, and health. He is known for his risk-taking and innovative approach to business.
James Dyson is an inventor and entrepreneur who is best known for developing the Dyson vacuum cleaner. He has also founded the James Dyson Foundation, which supports education and research in science, technology, engineering, and math.
Martha Lane Fox is an entrepreneur and philanthropist who co-founded Lastminute.com, an online travel and leisure company. She has also served as the UK’s Digital Champion, promoting the importance of digital literacy and access.
Elon Musk is an entrepreneur who is originally from South Africa but has lived and worked in the UK. He is the founder of SpaceX and Tesla, and has made significant contributions to the fields of space exploration and electric vehicles.
These are just a few examples of successful entrepreneurs in the UK. There are many others who have achieved success in a variety of industries and sectors.
Importance of Entrepreneurship
Entrepreneurship is important in the UK for several reasons. First and foremost, it drives economic growth and creates jobs.
By starting and running their own businesses, entrepreneurs can contribute to the overall prosperity of the UK economy. They can also bring innovative products and services to the market, which can improve the quality of life for people in the UK.
Entrepreneurship is also important because it allows individuals to be their own boss and pursue their own interests and passions.
It can be a fulfilling and rewarding career path for those who have the drive and determination to succeed.
Additionally, entrepreneurship can be a way for people to make a positive impact in their communities, whether by solving a local problem or providing a much-needed service.
Overall, entrepreneurship plays a vital role in the UK by promoting economic growth, creating jobs, and fostering innovation and progress.
The esports industry in the UK is worth an estimated £1.5 billion.
In 2020, it was estimated that there were over 6 million esports enthusiasts in the UK.
Around 29% of the UK population (aged 16-24) are interested in esports.
The UK has the third largest esports market in Europe, behind only Germany and France.
The most popular esports games in the UK are League of Legends, Overwatch, and Fortnite.
In 2020, the UK hosted a number of high-profile esports events, including the FACEIT London Major for Counter-Strike: Global Offensive and the League of Legends European Championship.
The UK government has recognized the growing importance of esports, with the Department for Digital, Culture, Media, and Sport (DCMS) launching a dedicated esports action plan in 2019.
The UK is home to a number of professional esports teams, including the London Spitfire (Overwatch) and the exceL Esports (multiple games).
Esports in the UK: Revenue and Investment
In 2021, it is estimated that the esports industry in the UK will generate revenue of £300 million.
Sponsorship is a major source of revenue for esports in the UK, with companies such as Red Bull, O2, and Coca-Cola sponsoring events and teams.
Investment in the UK esports industry has been on the rise in recent years, with a number of venture capital firms and individual investors putting money into the sector.
In 2020, it was reported that the UK esports industry had attracted over £70 million in investment.
The UK government has also provided funding for esports initiatives, including a £1 million investment in the British Esports Association in 2019.
Esports in the UK: Participation and Viewership
The number of people participating in esports in the UK is growing rapidly, with an estimated 4 million people playing competitively in 2021.
The most popular esports titles in the UK are multiplayer online battle arena (MOBA) games and first-person shooter (FPS) games.
In terms of viewership, the UK is home to a large and engaged esports audience. It is estimated that over 10 million people in the UK watched esports in 2020.
The UK is also home to a number of high-profile esports tournaments and events, including the Gfinity Elite Series and the Insomnia Gaming Festival.
The UK has a number of dedicated esports venues, including the Gfinity Arena in London and the Belong Gaming Arenas, which are located in various shopping centers around the country.
Additional statistics about the esports industry in the UK
According to a report from Newzoo, the UK is home to the fifth largest esports audience in the world, with over 10 million esports enthusiasts.
A survey conducted in 2020 found that 35% of UK esports viewers were aged 25-34, while 31% were aged 18-24.
The UK has a high concentration of professional esports teams, with over 100 teams based in the country.
The UK is home to a number of high-profile esports leagues and tournaments, including the UKLC (League of Legends) and the UK Masters (multiple games).
In terms of revenue, it is estimated that the esports industry in the UK will generate £300 million in 2021, with sponsorship and advertising accounting for a significant portion of this figure.
The UK government has been supportive of the esports industry, with the DCMS launching a dedicated esports action plan in 2019 and providing funding for initiatives such as the British Esports Association.
According to a report from the British Esports Association, the UK esports industry is expected to create over 8,500 jobs by 2025.
Sponsorships and revenue in the esports industry in the UK:
Sponsorship is a major source of revenue for the esports industry in the UK, with companies such as Red Bull, O2, and Coca-Cola sponsoring events and teams.
In 2020, it was reported that the UK esports industry had attracted over £70 million in investment, with a number of venture capital firms and individual investors putting money into the sector.
The UK government has also provided funding for esports initiatives, including a £1 million investment in the British Esports Association in 2019.
In terms of sponsorship revenue, it is estimated that the UK esports industry will generate £100 million in 2021.
Advertising is another significant source of revenue for the esports industry in the UK, with it estimated to generate £100 million in 2021.
Ticket sales and merchandise are also important sources of revenue for the esports industry in the UK, with it estimated to generate £50 million and £50 million respectively in 2021.
Overall, it is estimated that the esports industry in the UK will generate revenue of £300 million in 2021.
Digitalization has produced its fair share of marvels, and the financial sector has had a taste of them all. Robo Advisors, for example, have risen to the top of our list today.
What are Robo advisors?
Amid the financial crisis in 2008, Robo Advisors made their debut in the financial markets. Then, in 2010, two of the industry’s pioneering startups launched, raising the standard for Robo Advisors. The earliest Robo Advisors were utilized as online interfaces for financial managers to manage and balance clients’ assets.
Today, these same Robo Advisors have advanced to the point where they can do far more than just manage. They can assist you with trading, investing, and managing your money.
Aside from that, these platforms assist investors in reducing losses and are good forecasters of future and current investments. In addition, each investor who uses the platform receives quarterly updates on their performance in the market.
This post takes a deeper look into what they are, how they work, look at the qualities of the best Robo Advisors in the UK, plus more. Trading 212 has such a feature.
So without any further ado, let’s get started.
Definition of a Robo Advisor
Robo Advisors are digital platforms that provide automated, algorithm-driven financial planning services to their clients without the need for human involvement or supervision.
The platform gathers information from the client regarding their entire financial position and needs. It uses online polls to collect information about these things plus their future aspirations.
Using this data, the Robo-advisor creates a strategy for autonomously investing the client’s assets for profit.
How Robo Advisors Work
Robo Advisors are automated thus use computer algorithms to predict market movements. What this software does is build and manage a client’s investment portfolio dependant on their information.
Here are some of the data these online questionnaires collect:
The Degree of Risk Aversion
This relates to how willing an investor is to accept lesser returns to avoid risk. This degree is usually determined by the investor’s financial objectives and the investment’s time frame.
An excellent example is a retiree who wants to invest their money but is wary of doing so because they want to protect their life savings. In contrast, someone young in the workforce has more time to work while still earning a paycheck. These two will invest differently.
The level of risk aversion a client has will also be determined by the type of investor they are.
There are three primary sorts of investors:
Risk-averse investors who are always seeking low-risk investments with a high probability of success. This is the type of investor represented by the retiree in the preceding example.
Risk-neutral investors are frequently unconcerned about whether their assets are comparatively hazardous or safe.
Risk-taking investors are individuals who are not afraid to take chances with their money in exchange for more significant returns. The young professionals in our scenario would primarily fall under this investor segment.
Other data collected on the polls are:
The financial status of the client- employed with a salary, self-employed with a salary
The desired return on investment- how fast, how much, and how long
Products Offered by Robo Advisors UK
Robo Advisors in the United Kingdom and worldwide offer both general and trading investments to their clients. Each will have its account, making it easier for investors to distinguish between them.
In the United Kingdom, they also provide several retirement and tax-deferment options. They also provide:
General Investment Accounts
Investment ISAs
SIPPs
ISAs
Robo Advisors invest in index-based EFTs and mutual fund markets.
Major Functions of Robo Advisors
The first Robo Advisors were created to balance a client’s assets within target-date funds. First and foremost, this was a mechanism for investors to manage their investments passively.
Second, they were to make buy-and-hold investments easier through an easy-to-use internet platform that could be accessible from anywhere.
These functions have not changed, but they have become significantly more sophisticated. The following are some extra of the functions Robo Advisors perform:
Automatic Rebalancing
Your securities may appreciate or depreciate as a result of market fluctuations. Appreciation is desirable, while depreciation is undesirable for any investor.
As a result, the software strives to restore the portfolio’s original allocation. The proportions of the securities in a client’s portfolio are simply maintained.
Tax Optimization
This is the process of a client’s tax liability reduced or eliminated by making tax-efficient decisions. Tax optimization entails various strategies and techniques for lowering a client’s tax liability, which the program handles for them.
These decisions are made to get the greatest possible outcome for current and future tax liabilities.
Facets of the Best Robo Advisors UK
Here are the commendable features of the best Robo Advisors UK:
Portfolio Management
After gathering information about the investor’s preferences, the software produces an ideal portfolio. This portfolio focuses on putting money into stocks that aren’t highly correlated.
The Robo Advisors move funds to risky and risk-free assets, weighing them according to the client’s objectives and risk profile. They then track the performance of these investments and rebalance portfolios anytime they are impacted by economic events such as a recession.
Tax-loss Harvesting
Tax-loss harvesting, which includes selling stocks to avoid capital gains tax, is another function offered by the best Robo Advisors in the UK. The capital gains tax is usually levied at the end of each fiscal year. When the platform sells a security at a loss, the investor avoids paying taxes on the profit, resulting in a long-term benefit.
These Robo-advisers also invest in smaller securities to maintain portfolio allocation and reap the benefits of a market upturn. Because these activities are automated, consumers can take advantage of tax-loss harvesting.
Why You Should Use Robo Advisors
Most investors have inquiries regarding the platform before they invest in a concept. Why should I use this platform, for example? And how will it be of use to me? These are some of the questions they frequently ask.
Here are some responses to those two inquiries about why you should use Robo Advisors :
Robo Advisors are Affordable Means of Investments
When comparing Robo Advisors to people financial advisors, the first is the most cost-effective alternative. The minimal amount needed to start an investment is typically less than what a financial counselor would require.
Most financial advisors would require around $100 000 investment to start with the standard package. In contrast, Robo advisors could need as low as $500 or less.
Robo Advisors are Easy To Use
The finest Robo-advisor in the UK features a user-friendly interface that enables investors to grasp the system and begin investing rapidly. The interface is usually relatively straightforward, containing only the information that the investor cares about.
Furthermore, most Robo-advisor support staff are available 24 hours a day, seven days a week, and can assist anyone with a problem at any time.
What’s fascinating is that, despite mainly being passive, the investor has complete access to and control over their investments. This gives them more options.
Robo Advisors are Secure
Another key concern when it comes to investing is unquestionably the platform’s security.
The Financial Industry Regulatory Authority, or FINRA, regulates the majority of operating computerized Robo Advisors. This ensures that the transactions are legitimate and that your money is secure.
As a result, if something goes wrong, these programs will cover your money and investments up to £50,000 (Financial Conduct Authority) and £85,000. (FSCS).
The risk factor is also linked to the security of a Robo-advisor platform. However, the investor should ensure that they are informed about this. Their choices will determine the extent of risk they are prepared to take, so they should be notified of any investment losses ahead of time.
Downsides of Using Robo Advisors
Even though Robo Advisors are affordable and accessible, they still have a few limitations. Here are some:
Lack of Subjectivity
Human financial advisors have one quality that computers cannot mimic, and that is subjectivity. This means that the investor will not get any explanations as to why a particular investment went south.
The Investor Does Not Select What to Invest In
Once the client has signed up on the platform, the software invests the assets how it sees fit. That said, the investor has no say as to which security is traded or invested in.
Robo Advisors are not Equipped to Deal With Unprecedented Events
Even while they handle rebalancing automatically, this does not imply that they react to personal issues in the same way. As a result, Robo Advisors may not be the best investment option if a person inherits a considerable quantity of money or wins the lottery.
Similarly, Robo Advisors work under the assumption that most investors have defined objectives, which may not be the case. People’s opinions on matters like how willing they are to risk investment may alter over time.
How Much Do Robo Advisors Cost?
We’ve already demonstrated that Robo Advisors are less expensive, but they still have expenses. The annual portfolio cost for most of the best Robo Advisors in the UK is between 0.25 percent and 0.05 percent. Others, on the other hand, do this for free.
The costs charged by most Robo Advisors are usually a percentage of your investment, which means that each client has a different rate card. Depending on the company, this cost may be collected monthly or annually.
Other charges include transaction fees and commissions on buying and selling.
Furthermore, the fees vary based on the Robo-advisor, with some waiving or reducing them entirely. The investor must study the terms and circumstances thoroughly to be confident of the percentages.
Are Robo Advisors the Best Investment Option for You?
Indeed, they are, but there are a few factors you must consider. Here is what an investor must take into account before using a Robo-advisor platform:
The Type of Account to Use
Most of the Robo-advisor platforms in the UK have individual retirement accounts and taxable accounts.
Others offer more like trading, trusts, 401 (k) accounts, and more. A client must know the terms of each account before selecting one.
The Minimum Investment Requirements
Robo Advisors in the UK each have a set minimum limit of money one can open an account with. This is the money that is invested and used to earn you more. Others have a minimum set at $5000, while others have a limit as low as $500 or even less.
The Portfolio Recommendations
Most Robo Advisors have a list of at least five to ten portfolio options determined by how you answer the questions on the questionnaire. But suppose you are looking for a specific portfolio; you can select it from the get-go.
The investment charges
Depending on the securities the platform uses, there are usually specific fees that a client must pay with every buying and selling. An investor must be aware of this.
Are Robo Advisors for Everyone?
Regrettably, no.
People who do not actively move money into their accounts regularly do not gain from them. If a person with this behavior uses a Robo-advisor account, they will consume most of the money in the account, yielding low returns.
The ideal choice for such a customer is to employ several Robo-advisor systems’ cash savings portfolio alternatives. They frequently have no or meager fees.
Robo Advisors are not suitable for people who are searching for a short-term investment. Robo Advisors are majorly long-term investments. Instead, they can opt for accounts on platforms with high interest rates and convenient access.
Robo Advisor FAQs
Can Robo Advisors Make You Money?
Yes, they can. The platform trades the initial investment you put in to bring in profits. That is how both you and the company make money.
Can You Lose Money Using Robo Advisors?
Losing money with Robo Advisors is a possibility whenever there are extra costs. These are the likes of rebalancing fees, tax-loss harvesting, and other fees.
Do Robo Advisors Beat the Market?
Because Robo Advisors are passive investments that rely on index strategies, they cannot beat the market.
They instead duplicate the market rather than including any alpha strategies that could beat the market; therefore, most of them will not beat the market.
Take Away
It is not rocket science to choose the greatest Robo Advisor, but you must first educate yourself about them.
All of the above information will assist you in making an informed selection about the best Robo Advisor UK.
Trading 212 is one of the most well-known brokerage services globally, not just in the United Kingdom. Trading 212 is a well-known CFD and FX broker all over the world. But clients that use the platform can also trade stocks and EFTs for free.
The company began operations in 2004, and its headquarters are located in London. It’s available to UK traders who wish to invest in stocks are other assets.
This article will teach you everything you need to know about Trading 212 in the United Kingdom. We’ll go over the platform’s features, trading fees, demo account, transactional data, and other details. Also, look at their trump card, the mobile app. So, if you’re eager to learn more, keep reading.
The best alternatives to Trading212 are eToro and Swissquote.
Does Trading 212 Accept UK Traders?
Yes, traders in the UK can join the platform and carry out their trading without worry.
The company is registered in England and Wales—thus, any United Kingdom trader can use all its services.
Account Types on Trading 212
When you join Trading 212, you get three accounts to select, and they differ based on the assets you can trade. The country you reside in is also a factor that can force you to choose a particular account.
Every member can access any of the accounts featured on the platform, but they do not have any corporate accounts.
CFD Account
The CFD account is available for clients in all countries that Trading 212 is accessible. The clients using this account can only trade in CFDs.
Trading 212 Invest Account
The Invest account is also available in all countries that Trading 212 operates. And the clients using this account are free to trade in real stocks and EFTs across all money markets globally.
Trading 212 ISA
The Trading 212 ISA is an Individual Savings Account. It’s a tax-efficient account that allows investors to save and invest with the total amount in the current tax year, 20k Euros.
The four main types of ISAs are Stocks and shares, cash, innovative finance, and lifetime.
This last account is only available to traders based in the United Kingdom. This exclusive account allows traders to buy and sell securities like real stocks and EFTs.
How to Open an Account on Trading 212
The process of opening an account on Trading 212 is very straightforward. You can do everything online.
Even so, the verification time is usually under one business day so that you can start trading right away.
This is the procedure you follow when you want to open an account:
Sign up by entering your information like email address, name, country of residence and date of birth.
Select the account type you want, plus select the currency type you will be using on the account.
You have to accept the terms and conditions. Then activate your account by verification of your identity and residency.
To prove your identity, you will have to provide the platform with extra information. They require any identification documentation like an ID, passport, or driving license.
Proof of address will also be needed. And for this, you can use a bank statement or a recent utility bill, preferably no longer than three months.
You will not need to deposit anything to open an account.
Trading 212 Trading Platform
The brokerage allows traders to trade on the website as well as on their mobile app. Both platforms are quite intuitive and easy to use.
Web Trading Platform
Interface and Usage
The website interface is user-friendly and has a customizable option that lets the trader move things around to their liking. A user can change the sizes of tabs and dimensions of the elements as they trade.
The site is available in 11 different dialects, including English, Polish, German, Russian, Italian, Spanish, Dutch, Romanian, Arabian, French, and Chinese.
Security and Platform Maneuvering
When you log in, there is a two-step authentification for security purposes. And this can only be achieved through your mobile. Trading 212 also has a commendable and sophisticated search function.
One can quickly search by the name of a product and the security category you wish to trade.
Placing Orders
If you are a holder of any of the three CFD, ISA, and Invest accounts, you can submit and place orders within certain time limits. All accounts allow for orders in the market, limit and stop orders.
Then the Invest and ISA allow the stop limit and Good until the end of the day/canceled orders, but the CFD does not have them. The CFD has the OCO, and the other two lack this order.
As you trade, you get a trade ticket that displays vital information regarding the order you are about to place. The quantity of trade, the margins, swap rates, and stamp duty are some of the information displayed on this ticket.
This ticket puts your trade into perspective before you buy or sell a security.
Notifications
You can set up notifications like emails or texts on your phone.
On the web trading platform on Trading 212, you can set alerts as well as notifications. These will inform you of the orders, news, or any margin calls you might have selected.
Mobile Trading
Interface and Usage
The selling point of Trading 212, the mobile app, is nothing short of spectacular. The design is awe-inspiring, and the interface is user-friendly.
The app is downloadable on both iOS and Android mobile devices. The languages available are similar to the ones on the web version of the platform.
Security and Platform Maneuvering
Signing in on the mobile app is a breeze. Once you log in, there is a two-step verification authentication solidifying the security of the app. You can choose to use biometrics such as touch ID if your device supports it.
The search function is just as easy. It is intuitive and offers you what you search just as fast. The search provides you several assets you can trade besides the security you search for. You can search for stocks, indices, currencies, and commodities.
Notifications
The notification on the mobile app comes as push notifications. You cannot get SMS or email alerts on the website platform.
Markets and Products on Trading 212
Trading 212 offers the trade of real stocks, EFTs, CFDs, and Forex. It does not offer trade in mutual funds, bonds, options, and futures.
The platform supports 184 currency pairs, 51 stock index CFDs, 1700 stock CFDs, 28 EFT CFDs, and 45 Commodity CFDs.
However, it does not support cryptocurrency trading.
Stocks and EFTs
The stocks and EFTs trading portfolio is limited in that you only have seven stock markets to trade in and 200 EFTs. In hindsight, this is a large number of securities, but they have less when compared to other brokers in the industry.
Auto investing on Trading 212
If you want to put your investments on autopilot then the auto trading feature is for you. With Auto Investing you can rebalance your portfolio automatically. You can also automate your deposits.
This is one of the best “set-and-forget” approaches, I’ve seen so far.
Charting tools
These charts are very interactive and user-friendly. However, they are not the best to use since the news flow is not up to date, and there is no fundamental data available for a trader to use.
The charting tools are available on both web and mobile versions of Trading 212.
Educational Products
Trading 212 offers its users educational videos and tutorials on how to use the platform. Ther provide new members the basics of trading, which assists many beginners in getting started.
Their demo account is also a great educational feature that gives newbies practice ground to learn more about trading. You will also find academic articles offering more information on trading.
Deposits and Withdrawals
Both deposits and withdrawals are generally free and speedy through multiple channels. The base currencies are:
USD
GBP
EUR
RON
PLN
CHF
NOK
SEK
CZK
These currencies are limited to only a couple per country. For instance, in the UK, only GBP, EUR, and USD are available.
If you trade in one currency as your bank account, you do not have to incur conversion rates for deposits and withdrawals. But if it is the opposite, you will have to pay the conversion fees appropriately.
To bypass this, you can open a multi-currency bank account at a digital financial facility.
Depositing on Trading 212
Depositing on Trading 212 is free. However, when you deposit more than two thousand euros, you get a 0.07% deposit fee. And this is applied if you deposit using an e-wallet or your credit or debit card.
Here is a list of all the e-wallets you can use to deposit money on your Trading 212 account:
Google play
Paypal
Skrill
Apple Pay
Dotpay
Giropay
Carte Bleue
Direct eBanking
iDeal
The availability is linked to specific counties, and the user is the one to confirm which is available in their country.
Payments using bank transfers may take a few business days to verify, although using credit and debit cards is instant.
Withdrawing on Trading 212
Withdrawing on Trading 212 is free, and when you do it via debit card, it takes about one business day. You can only withdraw money to accounts that have your name on them.
Here is the procedure you use to withdraw your money from any of your Trading 212 accounts:
Click on manage funds on your dashboard after logging in.
Enter your password and select your withdrawal amount.
Confirm the withdrawal and wait for the verification.
Trading 212 Fees
Trading 212 has several commission-free stocks and EFTs, meaning a trader gets to trade for free. In general, there are no fees incurred in deposits, withdrawals, and inactivity. On the flip side, the forex trading costs are high.
There is a 0.05 % currency conversion fee for all CFD and forex trading. This rate could go as high as 0.15 % for real stocks and EFTs.
Trading 212 Customer Service
Of all the services Trading 212 offers its clients, customer support is the most wanting. Indeed they answer any query with relevant answers and are available around the clock, but you can only reach them via email support.
They do not have live chat or phone support. This is a major shortcoming as most people need fast and immediate solutions to their queries.
Is Trading212 Safe?
If you are trading in the UK and Germany, the investor protection amount is about 85,000 Euros regulated by the Financial Conduct Authority, FCA.
Some people in the modern world don’t just work to make money for a living. They go the extra mile to multiply the money through investing and trading. As a result, looking for brokerage services online has become a widespread practice.
Trading 212 overall performances as a brokerage platform in the United Kingdom is excellent. The most commendable part they offer is the low and no fees on the deposits, withdrawals, and commission when one trades on the securities.
Despite the platform having a limited platform compared to its competitors in the market, it still stands as a pretty good choice that traders can use.
It is a great place to start your trading career because of its numerous practice ground and available tools to make you better. Most importantly, they operate in the UK, and they have investor protection of up to €85,000.
The Swissquote group was established in 1996. It is listed on the Swiss Stock Exchange and deals with clients from all over the world. It has two main entities: Swissquote Bank LTD and Swissquote LTD.
The former is located in Switzerland. It is used for stock, funds, options, and futures trading. The other branch is located in Luxembourg – and you can use it to trade CFDs and forex.
We have provided a thorough review of the firm below, so keep reading.
Is Swissquote Available in the UK?
Swissquote LUX allows clients from 150 different countries to register, while Swissquote CH serves clients from 120 countries. Any individual from most parts of the world can sign up. This includes the United Kingdom.
Swissquote Review – Good or Bad UK Broker?
We’ve discussed everything you need to know about the online broker.
Assets and Markets Available
The group’s Swiss branch trades many different kinds of stocks. You’ll be able to trade:
ETF
Crypto
Fund
Bond
Stock
Options
Futures
Stocks and ETFs
The broker allows you to access 60 different kinds of stock exchanges. Compared to its rival Saxo Bank, there is a wider selection of markets. A bonus is that you can trade US penny stocks too.
The number of ETFs that the firm offers is decent. However, the number isn’t that high when compared to rivals. Swissquote offers 1,400 ETFs, while Saxo Bank offers 3,100 and TradeStation Global offers over 10,000 of them.
Forex
You can trade 80 different currency pairs through Swissquote LUX. This is not the same as Saxo Bank and TradeStation Global, however, which allows you to trade 182 and 105 respectively.
Cryptos
You’ll be able to trade 12 different cryptos as CFDs. You may be wondering if they’re leveraged CFDs or not. The answer is no.
The cryptos you’ll get are:
0x
Augur
Bitcoin
Bitcoin Cash
Chainlink
EOS
Ether
Ethereum Classic
Litecoin
Ripple
Stellar
Tezos
The selection is just as good as Saxo and TradeStation. Both offer 4 cryptocurrencies together.
CFDs
You’ll only able to trade CFDs through Swissquote LUX. It offers CFDs through forex, indices, bonds, and commodities. Individual stock and ETF CFDs are not available.
The selection consists of 26 stock index CFDs, 12 commodity CFDs and 3 bond CFDs.
Bonds
The firm’s selection of bonds is good. It is much wider than Saxo Bank’s but not as big as TradeStation’s.
You’ll be getting 53,400 bonds, while Saxo only offers 40,000 bonds and TradeStation offers 60,000 of them.
Trading Platform
You’ll have access to several different trading platforms. At times, it can be difficult to decide which one to choose. If you’re going to trade stocks, eTrading would be best.
MetaTrader 4, MetaTrader 5, and the custom platform, Advanced Trader, can be used to trade forex.
From this selection, eTrading is by far the most popular. It comes in multiple languages:
Arabic
Chinese
English
French
German
Italian
Russian
Simplified Chinese
Spanish
Let’s talk more about eTrading below.
Design
The site is not complicated to use. However, one of our complaints is that it is a bit too Swiss-focused. For example, you’ll find the Swiss stock market featured above the European and US ones.
However, you can customize the platform to your preferences.
Search Functions
You can set filters to find assets as well. This could include rating, risk, sector, market cap, and analyst recommendation.
As mentioned, eTrading is a little too Swiss-focused. Swiss assets often appear at the top of search results. You will also be hit with timeouts when waiting for search results.
Notifications
You can create a custom alert box to receive any news of your choice. You can also make a watchlist for price alerts. You’ll be able to get notifications when trades are completed too.
Instead of getting notifications only on the Swissquote site, you can get them sent to you via email.
Portfolios
Checking your portfolio won’t be a problem. However, it’s not easy to get a report on all the fees you have been paid. You will have to wait for around 30 minutes till your asset statement is compiled.
Login
The default login process is quite simple. You can set up a 2-step identification process through mobile authentication or a special physical code.
Orders
There will be 5 order types:
Limit
Market
Stop
Stop limit
OCO (One-cancels-the-other)
Mobile Trading
Swissquote has an app on iOS and Android devices. The mobile trading platforms available are eTrading, MetaTrader 4, MetaTrader 5, and Advanced Trader.
The app can be used in English, German, Italian, and French.
We’ll be discussing how you can conduct eTrading on the broker’s mobile app.
Design
eTrading is easier to do on your phone than on the computer. The layout looks very modern too. If you rotate your phone horizontally, you’ll get a more detailed view of charts and lists.
Login
The app has a one-step login by default. You can enable level-3 security to set a separate pin for your account.
You can also set up a biometric authentication if you want. You won’t be able to log in without your fingerprint, retina scan, or voice.
Search Function
The search function is simple. There are no advanced filters like those found on the web version, which is a drawback. Just like on the web version, search results focus too much on Swiss assets.
You can set notifications and alerts for various aspects, including price, news, and order confirmation.
Deposits and Withdrawals
Swissquote CH offers an impressive number of account-based currency pairs. The number of currency pairs that Swissquote LUX offers is average in comparison. When you trade with your local currency, you wouldn’t have to pay hefty conversion fees.
An easy way to avoid the conversion fees is by creating a multi-currency bank account. You can open one in a digital bank, and it will only take you a couple of minutes.
If you compare the base currency pairs the broker offers with rivals, you will see that it’s on par. Swissquote provides 21 different pairs, while Saxo Bank offers 26 and TradeStation Global offers 22 of them.
Deposits
The group’s Swiss branch doesn’t charge deposit fees for bank transfers. However, you’ll be charged between 2.2%- 2.5% for deposits via credit and debit cards. The exact percentage depends on where you live.
Meanwhile, the Luxembourg branch doesn’t charge any fees for deposits.
You won’t be able to make deposits through e-wallets. Know that TradeStation Global and Saxo Bank won’t let you do this either.
If you want to fund your account through a bank transfer, it might take several business days for the money to show up in your account. The longest time it will take for the money sent via debit or credit card to show up would be an hour.
Do you need to make a minimum deposit? You won’t if you’re going to be using Swissquote CH. However, if you’re going to make a forex account (through Swissquote Lux), a minimum deposit between $1,000 – $50,000 would be required.
Withdrawals
The broker’s withdrawal fees depend on which of its entities you use, as well as where you live. Swissquote LUX doesn’t charge any withdrawal fees. However, Swissquote CH will charge you €2 if you’re withdrawing in euros, and $10 if you’re withdrawing in USD.
Both these entities only allow you to make withdrawals via a bank account in your name. At times, the cash can take several business days to be transferred. However, it will most likely reach you in a business day, which is not too bad.
Is My Money Safe with Swissquote?
Yes, your money will be safe. The firm has been around for some time, and it’s regulated by some of the most top-tier financial bodies. The two main entities that regulate it are the Swiss Financial Market Supervisory Authority (FINMA) and Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF).
Some of the other bodies that regulate it are:
Financial Conduct Authority (FCA)
Dubai Financial Services Authority (DFSA)
Hong Kong Securities and Futures Commission (SFC)
Monetary Authority of Singapore (MAS)
Malta Financial Services Authority (MFSA)
If you want to know whether a broker is safe or not, look into its background, as well as what protection will be offered if something were to go wrong. With these two points in mind, Swissquote is ideal. It is reliable and heavily regulated.
You’re probably wondering if you can get investor protection or not. The investor protection you get depends on which of the firm’s entities you are a client of.
Swissquote Bank LTD – it is based in Switzerland and regulated by FINMA. The investor protection you’ll get is CHF 100,000 per account.
Swissquote Bank Europe – it is based in Luxembourg and is regulated by the CSSF. You’ll be getting investor protection of up to €20,000 for securities, and €100,000 for cash per account.
Swissquote MEA LTD – This is regulated by the Dubai Financial Services Authority. It’s specifically aimed at clients from the Middle East. You’ll get investment protection of CHF 100,000 for cash.
The group’s subsidiaries for Singapore and China don’t provide any investor protection, however.
Swissquote offers retail clients negative balance protection if they’re from the EU and trade CFD or Forex. Negative balance protection ensures that you don’t lose more cash than what’s in your trading account.
Overall, your money will be safe as Swissquote is a licensed bank, and it is publicly listed, so it’s no small-fry.
Is Swissquote a Good Broker?
You don’t need to be an expert to know that Swissquote is an excellent broker. For one, you’ll be able to trade a range of assets here. Users from all over the world are welcome too.
The site is very safe to work with, and you’ll be in goods. This is what you want when working with any broker, as you might be depositing thousands into your trading account and you need to know that your money will be well-protected.
Swissquote is regulated by many financial bodies, and it’s a registered bank. As a result, you have nothing to worry about. The fact that it is a broker that has been around for a while and has a great reputation makes it safer to work with.
If you have any problem you’ll be able to get help by contacting their customer service. You can contact the firm’s team through phone, email, or live chat. They provide great advice and solutions, and the support team is helpful.
You can get customer support in many languages as well. They include: Arabic, Chinese, Czech, English, French, German, Italian, Spanish and Russian. We have a small complaint, however. We would have preferred if languages like Romanian or Hungarian were available too.
The customer support team does not work 24/7. They’ll be available from 8 am to 10 PM CET from Monday to Friday.
You’ll be able to refine your craft, as there are several guides and tutorials on how to improve your trading. There are tutorials and guides on how you can use MetaTrader 4, 5, eTrading, and Advanced Trader too. You’ll be able to make a demo account to practice what you’ve learned. It will be funded with virtual money for you to practice and create strategies.
There are also webinars in multiple languages to help you broaden your knowledge.
Final Thoughts
Swissquote has two main entities. They are Swissquote Bank LTD (CH) and Swissquote LTD (LUX). Depending on which you choose, the assets you’ll be able to trade would differ. Overall, the broker is highly secure, so you don’t have to worry about your money. It also offers many resource guides to improve your craft. If you have any problems, they have a helpful support team to guide you.
XTB was founded in 2002 and was first called X-Trade. It then morphed into X-Trade Brokers in 2004. In 2016, it was listed on the Warsaw Stock Exchange under the XTB ticker symbol.
It is quickly becoming one of the most competitive and popular brokers around. It provides access to various markets, which we’ve discussed.
X-Trade is regulated by five financial bodies, including the Financial Conduct Authority. Clients from all over the world are welcome, except if you’re from the US and a few other countries.
We’ve discussed the company in-depth in our review below.
Does XTB Accept Traders From the UK?
XTB LTD, which is regulated by the FCA, only accepts traders who are residents of the United Kingdom. If you’re from the EU and want to use the broker, you’ll have to use XTB CYPRUS. Canadian clients can make use of X-Trade’s French branch.
Unfortunately, the site doesn’t accept clients from certain countries.
XTB INTERNATIONAL is only available to those outside the UK and EU, and to those who don’t fall into the list of countries above.
X-Trade Brokers Review
We’ve discussed everything you need to know about the site below.
Markets
XTB is mostly used to trade CFD and Forex. Its selection of CFDs is on par with rivals like eToro and Trading 212.
There are 49 currency pairs, 42 stock index CFDs, 1,800 stock CFDs, 114 ETF CFDs, 22 commodity CFDs, and 25 cryptos.
The number of cryptos the site offers is more than that of eToro and Trading 212. They both offer just 16.
X-Trade doesn’t allow you to change the default leverage level of its products. This can be a major drawback.
Stock Trading
You can trade ETFs as well as real stocks if you’re an EU client who is not in the UK, Cyprus, Hungary, or Italy.
There are 17 stock products and 220 ETFs available. Even though the selection of stock products is decent, the number of ETFs is not ideal.
Trading 212 and eToro offer 7 and 17 stock products respectively. Although the 220 ETFs XTB offers are less than ideal, eToro and Trading 212 don’t fare any better. Trading 212 offers 200 ETFs, while eToro only offers 145 of them.
Trading Platform
You can utilize either xStation 5 or MetaTrader 4. xStation 5 is X-Trade Broker’s custom platform. MT4 is a third-party option.
xStation 5 is available in many languages. They include:
Arabic
Bulgarian
Chinese
Czech
English
French
German
Hungarian
Italian
Japanese
Polish
Portuguese
Romanian
Russian
Slovenian
Spanish
Thai
Turkish
Vietnamese
Let’s talk more about X-Trade’s custom platform.
Design
You might feel intimidated by xStation 5 at first glance. It looks like a trading platform designed for professionals. However, once you start using it, you’ll realize that it’s not too complicated. You can also easily customize it.
Asset Searches
There are two ways you can search for assets on ‘Market Watch’.
Click the product name in the search bar
Go through the different categories and products available. Let’s say you want to trade a US stock CFD. You have to click on the specific stock type and then the US.
Placing Orders
xStation 5 comes with a trader calculator. You’ll be able to calculate the margins, commissions, and the other parameters of trades.
The order types available are:
Market
Limit
Stop
Trailing stop
Login
Logging in doesn’t take long. It’s a one-step process. Just know that a two-step login would be more secure.
Notifications
Notifications and alerts can be sent through email or SMS. In terms of what you can use this feature for, they include margin calls, deposits, withdrawals, and closed positions.
Portfolio
The platform provides clear portfolio and fees reports. They’re available under the ‘History’ tab. Daily reports via email can be sent to you as well.
Mobile Trading
Mobile trading can be done either through xStation 5 or MetaTrader 4. Mobile trading is possible on both Android and IOS. You’ll be able to trade in as many languages as you like on the web trading version.
Design
The XTB mobile app is well-designed and user-friendly. You’ll easily be able to find any feature you want.
Login
Only one-step login is available. A two-step login would be more secure. However, you can set up fingerprint authentication which is a bonus.
Search Function
All you need to do is type the name of the product in the search bar or browse the different product categories.
Placing Orders
The same order types as the web trading platform are available:
Market
Limit
Stop
Trailing stop
Alerts
The app lets you set as many alerts and notifications as you want. This includes notifications for market news and price changes.
Deposits and Withdrawals
The account base currencies available are below average compared to rivals. The only major currencies available are USD, EUR, and GBP. XTB’s less popular currency accounts are HUF and PLN.
If you’re new to trading, you may be wondering why the number of currency accounts matters. When you fund your account or trade assets in the same currency as your bank account, you don’t have to pay conversion fees. These fees can be pricey.
An easy way to avoid the conversion fees is by opening a multi-currency bank account. This will only take a couple of minutes.
One of the advantages is that X-Trade doesn’t have a minimum deposit amount. You can deposit whatever you want to open a live account.
Fees
XTB doesn’t charge deposit fees. However, e-wallets like PaySafe (formerly Skrill) and PayPal will charge 2% from the sum you’ve deposited.
Your location will determine which e-wallet you’ll be able to use. The ones XTB accepts are:
Paypal
Paysafe (formerly Skrill)
Neteller
Paydoo
PayU
SafetyPay
ECOMMPAY
BlueCash
Blik
Sofort
You can also make deposits through debit and credit cards, as well as bank transfers. Just know that a deposit via bank transfer can take several days.
Withdrawal Fees & Options
X-Trade does not charge withdrawal fees for sums over €80/$100. €16 would be charged if the sum is below 80 pounds and 20 dollars if it’s below 100 dollars.
You can only withdraw money through a bank account in your name. If you make the withdrawal before 1 PM, the cash will show up in your bank account on the same day. Otherwise, it would take one business day to arrive.
Let’s talk about the withdrawal process.
First, log into your trading account. You’ll see a ‘Deposit and withdraw funds’ option on the bottom right. When you click it, you’ll be directed to a page where you’re asked to include your bank details. This is the account your money would be sent to. Initiate the withdrawal and you’re good to go.
All you need to do now is wait. Keep in mind that if you did the withdrawal before 1 PM, you’ll get the cash sent to you that same day.
Is My Money Safe with XTB?
Yes, your money will be safe. X-Trade Brokers UK is regulated by the Financial Conduct Authority which is one of the largest and best-regulated financial bodies in the world.
Meanwhile, the EU branch of the site is regulated by CySec, under the 169/12 license number.
XTB’s international branch is regulated by the Belize International Financial Services Commission. It’s under the IFSC/60/413/TS/19 license number.
If you’re a retail client from the EU, you’ll have negative balance protection. This is mandated under the ESMA’s rules. It ensures that you won’t lose more than what’s in your trading account. Just know that the protection would only be offered for CFD and Forex spot trading.
Let’s talk about the investor protection you’ll get. It would be 100% up to every €3,000, and 90% up to every €22,000.
X-Trade does not provide two-factor authentication. However, it offers bio-metric protection for its mobile app. This means that you’ll have to use either your fingerprint, voice, or retina to log into your account.
You also need to have a long password that is a mix of low and upper case, along with numbers and special characters.
It’s safe to use XTB, as it has a long and clean track record. The company regularly releases financial statements, so transparency is never an issue. The broker is also listed on the Warsaw Stock Exchange – it’s no small-fry.
While on the topic of safety, know that the site doesn’t have a banking license. To some people, this may be an issue.
Resources
The firm’s educational materials are great. You can find four different courses on trading, which are divided into basic, intermediate, expert, and premium content. The basic and intermediate courses are free but you need to pay for the other two.
Each of the courses includes videos and articles. The topics are diverse and do not deviate from the industry norm. All the information that a beginner should know about is available. Its resources are well-organized, which is a plus.
In the premium course, X-Trade has complied material from some of the best traders in the game.
The broker holds conferences and events for people who want to get into trading. In April 2019, X-Trade held the Global Online Trading Master Class. It was live-streamed and users from various locations took part.
Not only are there resources to help you invest better, but you can also find tutorials on how to use xStation 5 and Metatrader 4. You can get a demo account for this. You’ll be funded with virtual money to practice trading strategies.
Is XTB a Good Broker?
You don’t need to be a pro trader to know that the broker is worth your while. You’ll be able to trade a large selection of CFDs and Forex. The number of stock types you can trade is just as good. However, as mentioned, the number of ETFs available isn’t the best.
XTB is easy to use, and your money will be safe. The cherry on top is the fact that you’ll be getting superb customer support.
You can contact the support team through live chat, phone, or email. This is available in many languages, including Romanian and Hungarian.
The broker’s live chat provides immediate, helpful replies. What’s more, its phone support team answers calls almost immediately and attends to problems.
We contacted the site’s team via email. We had no complaints, as the representative we spoke with cleared all the doubts we had.
If you live outside Europe, you’ll get 24/7 customer support. But if you’re from the EU, support would only be available 24/5.
The fact that X-Trade has many resources and educational guides is also appreciated. If you want to become a pro, you can purchase its premium course material. You can also attend one of the conferences and masterclasses that are hosted by the platform.
Final Thoughts
The broker accepts clients from the UK. You’ll be able to make use of its services wherever you are in the world unless you live in the United States. The site is mostly used to trade CFD and Forex. However, you can trade crypto, stocks, and ETFs too. The number of CFDs and Forex available are on par with rivals like eToro and Trading 212.
XTB is a reliable broker. You’ll be getting great customer support and can get in touch with its customer representatives in several ways. There are many resources that you can use to become a better trader, as well.
You won’t be charged deposit fees, and there are several ways you can fund your trading account. However, you’ll only be able to withdraw money from a bank account in your name. If you withdraw before 1 PM, the cash would be transferred to your bank on the same day.
