Many novice traders in the UK were looking forward to the UK launch of Robinhood, an investment app that claims to be democratising finance for millions of traders. However, after facing pressure from US authorities and politicians, the app has announced it will be delaying its UK launch.
Trading Apps
The main function of the Robinhood app, which has over 13 million US users, is to allow new traders to buy and sell financial products without depositing a minimum sum or paying commission.
The current waiting list for the app in the UK has over 250,000 people, many of whom were looking forward to the app being launched later this year.
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Individuals on the waiting list were greeted this week with a message from Robinhood explaining the app launch would be delayed.
The email read, “We’re saddened to share that we’ve made the difficult decision to postpone our UK launch indefinitely… We’ll be closing our waitlist and taking down our UK website shortly.
The world has changed a lot over the past several months and we’re adapting with it.”
Media Focus
The app, currently valued at $8.6bn, received a lot of media and political attention after a 20-year-old US user, student Alex Kearns, killed himself in June.
Kearns is believed to have killed himself due to mistakenly believing he had lost $730,000 (£575,000) on the app.
Kearns, unfortunately, seemed to misunderstand the app, due to lack of trading knowledge as his account was actually up $16,000 at the time of his death.
Robinhood has received approval from the FCA (Financial Conduct Authority) and was expected to launch in Spring 2020.
Although the launch delay is ‘indefinite’, there is hope for UK residents who plan to use the app as Robinhood also stated in their email;
“although our global expansion plans are on hold for now, we will continue our work to democratise finance for all and we look forward to the day when we can bring this mission to the UK.”
Existing Robinhood employees in the UK are expected to move to the US, while a team of skeleton employees will remain in the UK under the guidance of Wander Rutgers, former TransferWise executive.
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73-89% of retail investor accounts lose money when trading CFDs -
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Learn how we test brokers and why you can trust our ratings.
Here is a short overview of each broker's pros and cons
- XM 4.8/5 XM offer a mobile app for both Android and iOS that has been specifically tailored to each platform, maximizing the functionality of both. The app delivers the MT4 and MT5 software on the move, with full access to the broker’s 1,400+ instruments. Where they shine is their dependability with minimal glitches and delays during testing. The built-in news, trading journal and push notifications also ensure you have everything you need to day trade from your hand.
- AvaTrade 4.9/5 AvaTradeGO consistently impresses with its comprehensive mobile trading experience, boasting an interface that's not just easy to use, but genuinely intuitive. Navigating the app is a breeze, ensuring fast access to hundreds of markets, including forex, stocks, indices, commodities, ETFs, and bonds. However, what sets AvaTradeGO apart is its AvaProtect™ feature, offering an unmatched level of risk protection that's rare to find elsewhere.
- RoboForex 4.5/5 RoboForex continues to excel with its wide range of iOS and Android-friendly platforms to meet short-term trading needs, including MT4 and MT5. The R StocksTrader app performed particularly well during testing, with a vast selection of stocks and ETFs, portfolio analytics, customizable watchlists, an events tracker, plus a fast and dependable mobile trading environment. The only notable absence in the RoboForex offering is the increasingly popular cTrader app, that's favored by many day traders.
- IC 4.8/5 IC deliver mobile apps for their cTrader, MT4, MT5 and TradingView platforms. They have been developed on Android and iOS separately, taking full advantage of the functionality available on each. With raw pricing, and spreads from 0.0, the apps deliver an excellent trading tool for all levels of trader. Yet what really stands out is how they've managed to maintain the lightning-fast execution speed IC Markets (now just IC) is known for, right within the apps. It's a seamless trading experience that feels both professional and highly responsive.
- Pepperstone 4.8/5 Pepperstone excels for its excellent integration with the MT4, MT5, cTrader, and TradingView apps, making it a standout option for day traders familiar with these leading third-party trading solutions. These platforms deliver a stable and reliable mobile trading experience, enhanced by Pepperstone's almost unrivalled execution speeds and wide range of asset classes. Recent improvements also helped it secure second place in DayTrading.com's annual 'Best Trading App' award for 2025.
- Fusion Markets 4.6/5 Fusion Markets offers seamless integration with the cTrader, MT4, MT5 and TradingView apps, available on Android or iOS. Although we find the design of the MetaTrader app increasingly outdated, detracting from the user experience, it excels for its premium charting package, integrated news stream and push notifications. The cTrader app performed even better during tests, featuring a superior design and an extensive suite of over 70 indictors and 26 timeframes, making it the obvious choice for advanced day traders.
Community Sentiment
See how users rate these brokers based on the average customer ratings submitted on DayTrading.com, plus ratings from Trustpilot, the Apple App Store and Google Play.
| Broker | Our Users' Rating | Trustpilot Score | Trustpilot Reviews | iOS App Rating | Android App Rating |
|---|---|---|---|---|---|
| XM | 3130 | ||||
| AvaTrade | 13545 | ||||
| RoboForex | 773 | ||||
| IC | 2 | ||||
| Pepperstone | 3666 | ||||
| Fusion Markets | 9999 |
XM
With a low $5 minimum deposit, advanced charting platforms in MT4 and MT5, expanding range of markets, and a Zero account offering spreads from 0.0, XM provides all the essentials for active traders, even earning our ‘Best MT4/MT5 Broker’ award in recent years.
Christian Harris, Reviewer
XM quick facts
- Mobile Apps
- iOS, Android & Windows
- iOS App Rating
- / 5
- Android App Rating
- / 5
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Commodities, Indices, Thematic Indices, Precious Metals, Energies
- Minimum Deposit
- $5
- Account Currencies
- USD, EUR, GBP, JPY, ZAR
Pros
- XM’s growing roster of 1,400+ instruments provides diverse short-term trading opportunities, with unique turbo stocks, fractional shares, and more recently thematic indices.
- XM secured a category 5 license from the Securities and Commodities Authority (SCA) of the United Arab Emirates in late 2025, strengthening its regulatory credentials and making it a strong option for traders in the Middle East.
- XM has rolled out platform upgrades with integrated TradingView charts and an XM AI assistant, delivering faster execution, smarter analysis, and a sleeker, more intuitive trading experience.
Cons
- While the XM app stands out for its usability and exclusive copy trading products, the selection of technical analysis tools needs to be improved to meet the needs of advanced traders.
- XM relies solely on the MetaTrader platforms for desktop trading, so there’s no in-house downloadable solution for a more beginner-friendly user experience with unique features.
- Although trusted and generally well-regulated in some regions, XM also has global entities registered with the weak regulators like FSC (Belize) and FSA (Seychelles), whilst UK clients are no longer accepted, reducing its market reach.
AvaTrade
AvaTrade offers active traders everything they need: an intuitive WebTrader, powerful AvaProtect risk management, a smooth 5-minute sign-up process, and dependable support you can rely on in fast-moving markets.
Jemma Grist, Reviewer
AvaTrade quick facts
- Mobile Apps
- iOS & Android
- iOS App Rating
- / 5
- Android App Rating
- / 5
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures
- Minimum Deposit
- $100
- Account Currencies
- USD, EUR, GBP, CAD, AUD, ZAR
Pros
- AvaTrade launched AvaFutures to offer low-margin access to global markets, then expanded in 2025 as one of the first brokers to add CME’s Micro Grain Futures, and then later in the year went further by integrating with TradingView.
- Years on, AvaTrade remains one of the few brokers offering a bespoke risk management tool, AvaProtect, that insures losses up to $1M for a fee and is easy to activate on the platform.
- The WebTrader excelled in our hands-on tests, sporting a user-friendly interface for beginners, complete with robust charting tools like 6 chart layouts and 60+ technical indicators.
Cons
- AvaTrade’s WebTrader has improved, but work is still needed in terms of customizability – frustratingly widgets like market watch and watchlists can’t be hidden, moved, or resized.
- While signing up is a breeze, AvaTrade lacks an ECN account like Pepperstone or IC Markets, which provides the raw spreads and ultra-fast execution many day traders are looking for.
- The AvaSocial app is good but not great – the look and feel, plus the navigation between finding strategy providers and account management needs upgrading to rival category leaders like eToro.
RoboForex
RoboForex is great if you want a vast range of 12,000+ day trading markets with ECN accounts, powerful charting and loyalty promotions. It also stands out for stock traders with its user-friendly R StocksTrader platform, featuring 3,000+ shares, fees from $0.01 and sophisticated watchlists.
Christian Harris, Reviewer
RoboForex quick facts
- Mobile Apps
- iOS & Android, R StocksTrader, Telegram Mini App
- iOS App Rating
- / 5
- Android App Rating
- / 5
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Crypto
- Minimum Deposit
- $10
- Account Currencies
- USD, EUR
Pros
- In July MobileTrader Telegram Mini App was released - bringing out one of the first solutions we've seen that lets users execute trades and manage positions without leaving the Telegram messaging app.
- The broker offers two commission-free withdrawals each month in the Free Funds Withdrawal program, helping day traders to minimize transaction costs.
- The R Stocks Trader platform rivals leading solutions like MT4, with netting and hedging capabilities, comprehensive backtesting, Level II pricing, and a flexible workspace.
Cons
- Despite 15+ years in the industry and registering with the Financial Commission, RoboForex is authorized by one ‘Red-Tier’ regulator – the FSC in Belize, lowering the level of regulatory protections for traders.
- While RoboForex offers competitive spreads, some of its account types come with high trading commissions up to $20 per lot, trailing the cheapest brokers, such as IC Markets.
- RoboForex now restricts base currency options to USD and EUR. This limitation may inconvenience day traders preferring to manage their accounts in other currencies, while potentially leading to conversion fees.
IC
IC (formerly IC Markets) offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders.
Christian Harris, Reviewer
IC quick facts
- Mobile Apps
- iOS & Android
- iOS App Rating
- / 5
- Android App Rating
- / 5
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
- Minimum Deposit
- $200
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
Pros
- IC offers among the tightest spreads in the industry, with 0.0-pip spreads on major currency pairs, making it especially cost-effective for day traders.
- IC offers fast and dependable 24/7 support based on firsthand experience, particularly when it comes to accounts and funding issues.
- As a tightly regulated and widely respected broker, IC prioritizes client security and transparency, helping to ensure a reliable trading experience globally.
Cons
- There are fees for certain withdrawal methods, including a $20 wire charge, which can eat into profits, especially for frequent withdrawals.
- The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners.
- Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind.
Pepperstone
Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/5 support (18h a day on weekends).
Christian Harris, Reviewer
Pepperstone quick facts
- Mobile Apps
- iOS & Android
- iOS App Rating
- / 5
- Android App Rating
- / 5
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto CFDs, Spread Betting
- Minimum Deposit
- $0
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
Pros
- Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing and friendly agents knowledgeable about its products and trading tools.
- Pepperstone emerges as a low-cost broker, especially for serious day traders with spreads from 0.0 in the Razor account and rebates up to 30% (index and commodities) and $3/lot (forex) through the Active Trader program.
- Pepperstone has started providing trading in pre-IPO perpetual futures like SpaceX (SPCX.US-PERP) in select regions, such as the UAE.
Cons
- Overnight holding fees are higher than that found with some Market Maker brokers (usually Benchmark + 2.5%). This makes pepperstone an ideal broker for day traders and forex scalpers but less suitable for swing traders who often keep position open overnight.
- Execution may not feel as reliable in fast markets as headline speeds suggest. In our own testing, execution was fast at desired prices, but some community complaints focus on slippage, stop-loss fills and spread-sensitive order triggers during volatile conditions.
- Despite improvements to its range of markets, crypto CFD offerings are still fairly limited compared to other brokers who focus on this area, such as Eightcap, and there's no option to invest in real coins.
Fusion Markets
Fusion Markets is a standout option for forex traders looking for excellent pricing with spreads near zero, industry-low commissions and recently TradingView integration. It’s a particularly good broker for Australian traders where the company is headquartered and regulated by the ASIC.
Jemma Grist, Reviewer
Fusion Markets quick facts
- Mobile Apps
- iOS & Android
- iOS App Rating
- / 5
- Android App Rating
- / 5
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Indices, Commodities, Crypto
- Minimum Deposit
- $0
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
Pros
- Fusion Markets is set up to support algo traders with a sponsored VPS solution and a 25% discount if you opt for the NYC Servers VPS for MT4 or cTrader.
- The range of charting platforms and social trading features is excellent, with MT4, MT5, cTrader and more recently TradingView, catering to a wide range of trader preferences.
- The market analysis features, Market Buzz and Analyst Views, are great tools for discovering opportunities and conveniently integrated into the client dashboard.
Cons
- The demo account expires after 30 days, limiting its potential as a useful trading tool alongside a real-money account.
- Traders outside of Australia must sign up with weakly regulated global entities with limited safeguards, though in August 2026 they made negative balance protection available to all eligible accounts.
- While the selection of currency pairs trumps most rivals, the broker's alternative investment offering is average with no stock CFDs beyond the US.