Analysis

February 6, 2020

UK trading apps up to 20x cheaper than incumbents

An independent review has shown that "wealthtechs" offer starkly cheaper trading than their older peers. A price war is now inevitable, but can the newcomers manage their costs?


Isabel Woodford

4 min read

Stock trading in Europe is still an acquired taste; just a third of Europeans invest in public companies, versus half of Americans.

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The wealthtech newcomers.
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A breakdown of the fees on a bulk UK trade (buy and sell), using Lloyds Bank shares as an example. eToro doesn’t charge stamp duty, making their UK trading very competitive. Revolut doesn't trade UK shares, so isn't eligible here.
The same experiment but on US stock Snap (the company behind SnapChat).
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Number of UK-based accounts/clients by company. Source: Brokerchooser. (N.B. eToro's userbase is global. It does not disclose the number of active users it has in the UK alone.)
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