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How to open a share-dealing account
How to choose the best trading account for share dealing, and start investing in UK and international markets.
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Low-cost trading
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US shares
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Beginners
Invest in shares with 0% commission on eToro
Other fees may apply. Your capital is at risk.
- Unlimited trades, with no dealing charges or management fees
- If your trades get copied you can earn extra money
- Create an account today in a few minutes
All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back lessthan you invest. If you’re not sure which investments are right for you, please seek out a financial adviser. Capital at risk.
Online share dealing allows you to buy and sell shares in publicly listed companies from your phone, laptop or tablet. Where previously you needed a broker in order to access markets, these days investors trade directly by opening a share-dealing account with an online share-trading platform.
This guide allows you to easily compare online share-trading accounts, and takes you through the steps involved when choosing a platform.
Compare the UK’s leading trading platforms
Table: sorted by promoted deals first
All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back lessthan you invest. If you’re not sure which investments are right for you, please seek out a financial adviser. Capital at risk.
Or use a stocks and shares ISA
A stocks and shares ISA can be another good option for investors. Legal & General’s award-winning stocks and shares ISA let’s you choose from three investment options. You can let them do it for you, use index-tracking funds to build your own portfolio, or pick your own funds.
Why trade shares online?
Trading shares online offers a secure and easy way to manage your investments. You can place trades at a time and place convenient to you, with the obvious benefits of dividend payments and investing for the future.
There are of course risks attached to trading shares, including the possibility of losing money you invest. It’s important to make sure you’re aware of those risks before you start trading.
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See the finder.com/uk share trading guide.
How do I choose an online share-dealing platform?
You’ll need to carefully consider what you need before deciding on the right online trading platform. Some of the issues to consider include:
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Your trading knowledge and experience. Some online trading platforms are designed to suit casual investors. Other trading platforms have features geared towards experienced traders, such as advanced charting tools, speedy execution of trades and live market data. These features may come at a cost,
however, and may not add much value if you are a less experienced trader. - The markets you can access. Some share-dealing platforms only provide access to companies listed on the London Stock Exchange, while others will also allow you to place trades on international markets. Some trading platforms will also provide access to other trading instruments, for example forex and contracts for difference (CFDs).
- The fees involved. There are two main costs you need to consider when choosing a share trading platform: the brokerage fee and the ongoing fee. The brokerage fee applies each time you place a trade and is usually around £10-£25, but could be higher based on the size of the transaction. Ongoing subscription fees are charged monthly and vary depending on the provider and the account features you select. Before choosing a platform, make sure you understand the fees you’re likely to pay. As Boring Money CEO Holly Mackay told Finder, “transparency has improved a lot and some platforms are actually now quite good at being very clear on what investors will pay.”
- Trading resources. From educational tutorials to research and investment advice, check what tools a platform offers to help you make informed trading decisions.
- Customer service. If you ever have a problem or need help with a trade, check to make sure you will be able to access prompt and helpful customer support.
How to open a share-trading account
The exact process for opening a share trading account varies depending on the trading platform you select. However, you’ll generally need to complete the following steps when signing up:
- Choose your broker. Research a range of options to find the online stockbroking provider that offers all the features you want at an affordable price. Some providers also offer a choice of share trading platforms, for example a free web-based platform for casual investors and a more complicated software package with a monthly subscription fee for experienced traders.
- Choose your membership level. Some providers offer a choice of membership tiers, each with a different level of features and a different ongoing fee. For example, you may need to choose between a Bronze, Silver or Gold trading account.
- Provide your details. You’ll need to provide your full name and a valid form of photo ID, as well as your email address, phone number.
- Link your bank account. You’ll need to supply details of the bank account which will be used to finance your trades and you may be required to deposit a minimum amount. Some share dealing platforms will also require you to open a cash management account with a specific financial institution before you can start trading.
- Submit your application. Your application to open a share trading account will usually be processed within 1-2 business days.
- Start trading. Once your application has been approved you can login to your account and start trading.
Tips for new investors
Hargreaves Lansdown’s Sophie Lund-Yates shares her advice for new investors looking to join the stock market.
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