UK alternatives to Webull

Webull, the popular US-based trading app, finally launched in the UK on 12 July, 2023, after securing authorisation from the Financial Conduct Authority (FCA) in October 2022. While Webull is known for its commission-free trading in other markets, in the UK it charges a 0.025% commission on each trade.

Initially, the UK platform will only allow investment in US stocks and fractional shares, unlike other countries where options, ETFs, and over-the-counter (OTC) securities are available. Despite these limitations, Webull UK’s CEO expects to expand offerings rapidly, opening new global investment opportunities for retail investors.

Below, we explore UK alternatives to Webull that offer a wider range of investment products, with 0% or low commissions for stock trading and longstanding FCA regulation. Alternatively, you can read our full, in-depth Webull UK review.

Best for 0% commission stocks

Finder Award

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Capital at risk. Other fees apply.

Copy picks from top traders

• Commission-free stock trades
• Receive dividend payments
• Invest in fractional shares

Best for fractional shares

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Capital at risk. T&Cs apply.

Personalised market updates

• Commission-free trading
• Invest in fractional shares
• Over 5,400 stocks & ETFs

Best for customer satisfaction

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Capital at risk. T&Cs apply.

97% would recommend

• No commissions for funds
• Expert research and insights
• Wide range of tax wrappers

eToro: the closest alternative in the UK

Finder score	★★★★★	★★★★★
Customer satisfaction survey		★★★★★
FSCS protected?
Stocks and shares ISA available?
Standard trading fee	£0	£0.00
Foreign exchange fees	0.35%	0.5%
UK - London Stock Exchange
US - New York Stock Exchange
US - NASDAQ
App
Desktop or web access
Keep in mind	Capital at risk	Capital at risk. 51% of retail CFD accounts lose money
	More Info	Go to site More Info

eToro is a close match to Webull – it offers commission-free trading on shares and ETFs, as well as a social trading feature that lets you copy the trades of popular investors. We think it’s got excellent charting tools and desktop trading.

If you’d like to find out more about eToro, we have a full review, where we talk about its social trading features and the exchanges you can trade with eToro.

Freetrade: a great alternative if you want an ISA

Finder score	★★★★★	★★★★★
Customer satisfaction survey		★★★★★
FSCS protected?
Stocks and shares ISA available?
Standard trading fee	£0	£0
Foreign exchange fees	0.35%	0.59%
UK - London Stock Exchange
US - New York Stock Exchange
US - NASDAQ
App
Desktop or web access
Keep in mind	Capital at risk	Capital at risk
	More Info	More Info

Freetrade is another great alternative to Webull if you’re looking to invest in an ISA. Like Webull, it lets you invest in ETFs and funds. It has a colourful interface, making it an accessible option for beginner investors.

Read our full review of Freetrade to find out more, including the features available and more information about its fee structure.

IG: a popular comprehensive investment app

Finder score	★★★★★	★★★★★
Customer satisfaction survey		★★★★★
FSCS protected?
Stocks and shares ISA available?
Standard trading fee	£0	£8
Foreign exchange fees	0.35%	0.5%
UK - London Stock Exchange
US - New York Stock Exchange
US - NASDAQ
App
Desktop or web access
Keep in mind	Capital at risk	Capital at risk. 71% of retail CFD accounts lose money
	More Info	More Info

Another popular investment app is IG. It charges commissions to buy shares — £8 for UK shares and £10 for US ones. You can get cheaper trading if you trade regularly — £3 for UK shares and commission free for US shares if you traded more than 3 times in the previous month.

We’ve written a full review of IG that covers off the exchanges you can trade, fees and additional features of IG.

Compare all 4 apps

If you’ve still not made your mind up, here are some key facts:

Webull doesn’t charge a foreign exchange fee, while most UK platforms do, as you can see above.

Most UK platforms let you invest into an individual savings account (ISA), which would allow you to invest up to £20,000 each year without paying any tax on your profits. IG’s ISA is free, while Freetrade charges £3 per month. eToro does not offer an ISA, so you’d potentially be subject to capital gains tax for profits over £3,000 in each tax year.

We’ve chosen platforms that offer both UK and US shares — all 3 of these platforms have additional exchanges available, which you can find out in the full reviews. At the moment, Freetrade is app only, so if you’re interested in desktop trading, it wouldn’t currently be your best option.

What is copy trading?

Money expert Mark Tovey answers

Copy trading, where investors follow or replicate the trades of experienced investors, has become a popular approach in recent years. Platforms like eToro and Webull have made this strategy more accessible to the average person. But is copy trading a good idea?

The benefits are clear. By following experienced traders, you can leverage their knowledge and strategies to potentially profit. But how can you distinguish a skilled trader from someone who’s all talk? At school, it was easy to tell who the smart kids were. In the smoke-and-mirrors world of social media, where profit-and-loss statements can be airbrushed, it’s not so easy to tell whose homework you should be copying.

A study cited in a blogpost by the Otto Beisheim School of Management concluded that the majority of “investment influencers” do not generate positive net returns for their followers on sites like eToro and Webull. Although the study acknowledged social trading platforms host some “skilled traders”, it warned that they are “hidden within the masses of unskilled investors”.

Bottom line

Webull has now officially launched in the UK as of the 12th of July 2023, although its offerings are currently limited to US stocks and fractional shares, with a 2.5 basis points commission on each trade.

If you’re seeking wider investment options and products available in other countries where Webull operates, you might want to explore alternatives. We consider eToro in the UK to be the closest match to what Webull offers its US customers.

If you’re still not convinced, you can compare share dealing accounts with our comparison table. It lets you choose what’s important to you to narrow down your options.

Frequently asked questions

• Is there any referral program for eToro, Freetrade, or IG that would provide benefits for referring friends or family?

  eToro does not currently offer referral bonuses for UK customers. Freetrade had a Summer Free Share Offer, allowing referrals to earn a free share worth between £10 and £100, but this expired on 2 August 2023. It’s worth checking Freetrade periodically, as they periodically offer similar refer-a-friend schemes between limited dates. IG provides an ongoing referral promotion in the UK, crediting £50 to your account for each referral, up to a maximum of five.

• Do eToro, Freetrade and IG charge to withdraw or deposit funds?

  Freetrade and IG charge $0 for withdrawals and deposits, while eToro charges $5 for withdrawals and $0 for deposits.

• Is there a dedicated customer support line for eToro, Freetrade and IG, and what are their operating hours?

  eToro offers support through an online customer service centre, where tickets can be submitted for assistance, with the Help Center page available for frequently asked questions. Freetrade does not offer a dedicated phone support line but provides assistance through in-app chat, email, and social channels. IG seems the most accessible to customers, with a helpdesk team that can be reached at 0800 195 3100, 24 hours a day Monday to Friday, and 9am to 5pm on weekends.