Best Bitcoin Trading App UK – Top Apps Reviewed
Bitcoin has grown to become the company or asset with the 8th largest market capitalization in the world which has made it a popular investment since its launch in 2008. While investing in bitcoin for the long-term and short-term can yield incredible returns, choosing the best crypto apps to facilitate your trade is the first step to successful bitcoin investment. The best bitcoin trading app UK offers UK clients the best trading commissions, spread, and leverage and is regulated by the FCA. Keep reading to find out more.
Best Bitcoin Trading App UK- Overview
- Choosing a good Bitcoin trading app will help to streamline the investing process an make it easier to manage your portfolio.
- Our recommended app, eToro, supports 65 different coins and offers social trading. Furthermore, you can invest with as little as $10.
- To ensure safety, it is always a good idea to choose an app that is regulated. eToro is regulated by the FCA and the CySEC.
- Other apps to consider include Coinbase, CEX.io, Coinmama and Binance UK.
Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.
Best Bitcoin Trading App UK- List
- eToro– Our Recommended Bitcoin Trading App Regulated By The FCA
- Alvexo– Best Bitcoin Trading App For Social Trading
- Skilling– Popular App With A Fantastic Mobile App
- Margex– Bitcoin Trading Platform With High Leverage Offerings
Best Bitcoin Trading Apps- A Closer Look
eToro
eToro is a multi-asset trading platform best known as the first social collaboration platform that allows traders worldwide to communicate, learn, and grow their investment portfolios. eToro supports 65 coins and ETFs, and allows the transfer of crypto holdings to other platforms. eToro supports bitcoin trading, ethereum trading, and trading of other variety of assets under a unified strategy.
Key Features
- Beginner traders can learn and copy live strategies of expert traders.
- Works like a social platform where traders can gather followers and earn commissions from copied trading.
- Available to UK clients through its Financial Conduct Authority approval and certification.
- Supports 65 cryptocurrencies, including bitcoin trading.
- Trading education includes news headlines, earning reports, daily market analysis, and standard economic calendar reports. Trading Central is limited to the eToro club members.
- 120K reviews on Google Playstore
- Over 10 million Playstore downloads.
- The eToro app allows traders to access the web application’s full feature on the go. What’s better, the app simplifies the trading process and makes navigation seamless and easy.
- eToro users can make instant fiat-to-crypto transactions for the platform’s stablecoin, the USDEX. Traders can load USDEX on their eToroX account through a Signature bank account or SIGNET—Signature’s blockchain-based payment platform.
- eToro is regulated by the Financial Conduct Authority (FCA) in the UK, as well as the Cyprus Securities and Exchange Commission.
Pros:
- Active user community
- Allows copy trading
- FCA regulated
- Endless trading resources
- Users can transfer crypto holdings
- Zero management fee for the Metalife Smart portfolio, regardless of the trade volume; however, you may have to pay commissions on executing trade orders. For UK users, exchanging fiat currencies also carry a conversion fee.
- Social trading helps beginners improve while rewarding expert traders
- Free stock and ETF trading
Cons:
- Trading fees apply.
- A limited number of ETFs and cryptos available
- There aren’t many fund deposit options.
- You may have to pay a conversion fee for GBP deposit.
Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.
Alvexo
Alvexo is a social trading and copy trading platform with over three hundred and seventy registered users and a 45 billion trading volume. Alvexo facilitates Forex and CFDs, allows copy trading, and supports various commodities, cryptocurrencies, and indices.
Key Features
- Streamlined account opening process: Alvexo uses an account generator that helps assess and direct your trading experience. Questions you will be asked include experience level, investment goals, risk tolerance, and skill set.
- Negative balance protection: Traders can never lose more than the initial investment.
- Leverage: 30:1 trading leverage for Alvexo users and 300:1 for traders under the FSA regulation demography.
- 450 tradable assets, including cryptocurrencies, indices, forex, stock, and commodities.
- Offers three trading platforms: web trading, mobile application, and MT4. The mobile application does not have all the features of web trading.
- The mobile application has a 4.2-star review as of writing.
- Mobile app features include real-time alerts, daily signals, risk management, and a charting suite.
Pros:
- Mobile app features are extensive enough for on-the-go trading.
- Availability of 30 technical indicators.
- Extensive educational resources and guides for beginner and advanced traders.
- Extensive financial instruments, tiered accounts—with their respective benefits, and competitive spreads.
Cons:
- The mobile application lacks market signals and complex customization tools for advanced trading.
- Alvexo is not regulated in the UK.
Past performance is not an indication of future rewards.
Skilling
Skilling is a CFD trading platform with fully functional web and mobile applications. Users can execute trades through the cTrader, MetaTrader platform, and mobile applications for Android and iOS. Skilling's mobile functionality seamlessly integrates with the web application and offers an intuitive and simple UI and user experience.
Note: MetaTrader is not available to users in the UK.
Key Features
- Speedy order execution
- Over 800 trading assets are available
- Availability of drawing tools and technical indicators across all platforms
- Demo account available
- Full mobile support
- Automated trade assistant for beginners
- Beginner-friendly interface
Pros:
- Fully integrated mobile applications for Android and Ios
- Extensive trading assets and CFD systems
- Other trading platforms are seamlessly integrated with cTrader
Cons:
- Does not support NFT trading
- High spreads
- Steep 100 EUR minimum deposit
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Margex
Margex is a digital trading platform that supports cryptocurrencies like Bitcoin, Ethereum, XRP, LTC, and USD. Launched in 2020 in Seychelles, Margex’s high leverage of x100 and deep liquidity makes it an excellent Metaverse crypto trading application.
Key Features
- x100 Leverage: With x100 leverage, traders have wider exposure to open positions in the market.
- Deep Liquidity: Margex’s deep liquidity is sustainable because the platform uses AI to constantly track the price of an asset on 12 different platforms.
- Multicollateral wallets for better risk management
- Bank grade and cryptocurrency security that ensures that you are in total control of your trading experience. Margex keeps its operations 100% transparent.
- 100% of all Margex cryptos are stored in cold wallets; hence, almost eradicating fund loss from hack.
- MP Shield protects users from unfair price manipulations, ensuring that cryptocurrencies are always liquid.
Pros:
- Leverage positions are excellent for traders.
- User-friendly interface
- Bank-grade security system
- Low minimum deposit and competitive transaction fees
Cons:
- Doesn’t support a large number of cryptocurrencies or NFTs.
- Withdrawals are credited as BTC assets.
Past performance is not an indication of future rewards.
How To Use eToro to Trade Bitcoin
eToro is one of the best crypto apps for trading bitcoin. Thanks to a seamless and efficient process, you can create your account, submit your identification for verification, and start trading with the demo account if you are not ready to invest or go live after ID verification.
Create an Account
Create your eToro account on their sign-up page. Supply your email address, username, and password. You can also sign up directly from your Google or Facebook accounts.
Verify ID
eToro mandates proof of address and proof of identity for every account. Your identification document must be issued by the government of your residence and may include a driving license, passport, or government-issued identification. The document must be double sided and when capturing, use a phone.
You can also use eToro’s ID-capturing software. The process is seamless and should only take a minute.
Deposit Funds
To deposit funds into your investment accounts, simply sign into your eToro account, click deposit funds, and enter the currency and amount you want to deposit. eToro cryptocurrency trading app accepts credit/debit card, PayPal, Skrill, POLi, Payoneer, Online Banking, bank transfer, rapid transfer, Ideal, Neteller, or eToro Money.
eToro money is available to only a handful of countries; however, the eToro debit card is only available to UK clients. With an eToro debit card, you can spend money anywhere in the world straight from your eToro investment account without incurring any fee.
Use the Demo Account to Practice
The eToro demo account allows you to trade risk-free while accessing all eToro cryptocurrency trading app features. Practice different investment strategies, from leveraging up to 30x to executing stop loss orders. To create a demo account, sign into your account and select virtual portfolio in the menu under your username.
Explore Social Trading
eToro crypto trading app is one of the best crypto apps—from integrating stock, ETFs, indices, and cryptocurrencies. eToro’s Investor Program is perhaps one of their best features. With the Investor Program, beginner and even advanced investors can copy the trades of successful investors.
As a beginner, you can explore social trading by copying the trade strategies of other successful traders. This way, you can perform advanced strategies in your trades even if you do not have practical experience.
To explore Social Trading, click on Copy People, and an intuitive screen will pop up. On the screen, you will see many successful traders and their trading strategies, including live trading. You can copy the trader that aligns the most with your trading goals. You can also use the search tool to search for particular traders.
The advanced search tool allows you to filter your searches with different parameters.
eToro’s social trading feature has attracted some of the world’s most successful traders. If you are an experienced trader, you can also earn money from the program when someone copies your trade and earns an ROI. Investors can earn up to 2% of the total profits of every trader that copied their investment strategy. The earnings are added to the investor’s profit.
Conduct Research and Analysis
eToro has extensive research resources for traders to utilize in their investment processes. For example, the social news feed allows you to follow important world events, social media happenings, and commentaries from other traders and professionals. With eToro, you can interact with some of the biggest investors, understand fundamental analysis, and access intuitive technical analysis tools.
eToro also notifies you when traders you copy publish articles or if an asset you trade on your watch list becomes volatile. The comprehensiveness of the data you access and the simplistic and intuitive presentation of the data makes eToro the best app for bitcoin.
Begin live Bitcoin trading
It’s time to start live bitcoin trading and investment. You must understand that investing in CFDs, leveraging, and buying bitcoin, has its risks, and there is the possibility of losing all your income. eToro simplifies the process by helping you copy trade and providing all essential data points, market information, news updates, and global occurrences that will help you make the best decision.
Not sure about your investment strategies for bitcoin yet? Copy the bitcoin investment strategies of the most successful traders on the eToro portal. With the advanced search tool, you can set the asset parameter to bitcoin, and only bitcoin investments will appear. Then, select a trader whose investment strategies match your goals and copy his moves—it's simple and intuitive!
Past performance is not an indication of future rewards.
Are Bitcoin Trading Apps Regulated?
Some of the best crypto apps, such as eToro, are regulated within the countries and regions they operate. It's important to research the regulatory bodies that guide a bitcoin trading app before you invest through such an exchange. Investing in an unregulated app can lead to a loss of funds. Regulatory bodies worldwide include FCA, ASIC, DFSA, BaFin, CySEC, and SCB. For example, eToro and its subsidiaries have the FCA (Financial Conduct Authority) license to operate in the UK, the ASIC (Australia Securities & Investment Commission) to operate in Australia, CySEC to operate in other parts of Europe, and AFSL, amongst others.
On another note, there are some Bitcoin trading apps that claim to be regulated but are not; hence the need for due diligence on an investor's part. Confirm the claims made by a trading app before using the exchange. For example, if you want to confirm if an app has the FCA approval, simply check out the FCA website and confirm the list of trading platforms that have been licensed to operate
Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.
Top Tip for Using a Bitcoin Trading App
Before choosing a bitcoin trading app, there are a few things to consider:
- Intuitiveness and User Interface: Use a bitcoin trading app that is intuitive and has all or almost all the features of the web trader. Mobile applications for trading bitcoin should enhance on-the-go trading without diminishing the features of the web trader, especially for beginners.
- Use the demo trader before investing: Even if you are a seasoned investor, when using a new app, you might do better if you use the app’s demo trader and get core knowledge of how the app works.
- Consider payment methods: Different apps have different payment methods, from wire transfer to Paypal, Payoneeer, and credit/debit card, and each payment method carries its fees and deposit and withdrawal limits. Familiarize yourself with the app’s limits and payment options.
- Read the app’s terms and conditions: As important as this is, it’s almost always the most ignored piece of advice. Read an app’s T&Cs, privacy policies, and how they handle your data. Do they share data with third-party apps? If they do, what apps do they share personal customer information with? Are they insured and what is the extent of their insurance. Some exchanges only insure assets up to $250,000 per customers – this means that if there is a hack and you lose more than $250,000, the exchange might not be liable to pay your full funds, regardles of how much.
- Liquidity of the assets in the bitcoin app: Liquidity simply means the ease of buying and selling an asset. A trading app must be liquid enough to accommodate large trade volumes without affecting the asset’s price. When you trade an illiquid asset, the ask price will be far greater than the bid price, leaving a wide spread and unfair increase in the asset’s price.
- Leverage: Bitcoin leveraging simply means borrowing bitcoin to make trades and earning larger profits. For example, eToro offers x30 leverage—that is, you can borrow up to 30 times your bitcoin holdings and make trades. When choosing a bitcoin trading app, choose an app that offers sufficient leverage. eToro offers a maximum of x30 for bitcoin and other cryptocurrencies. Looking for higher leverage, check out the best leverage trading
- Security: Always use the bitcoin trading app UK that has the necessary certifications from the top regulatory bodies within their jurisdiction. You should also consider the exchange or app’s security measures like two-factor authentication, cold storage or wallet, and insurance policies in the case of a hack.
- Fees: Choose an exchange with convenient trading fees. Your selection should depend on your trading strategies. Do you do more of day trading or you invest long-term? What’s your trade volume? Some exchanges charge lower fees for higher trade volume and deposits. You should also consider commissions, withdrawal fees, and currency conversion rates.
- Review: You can check the review of an app in Google Playstore or Apple store. Note that crypto apps do not always have raving reviews, especially if the app is new; however, most decent apps should have 4.0 stars and above. You can also check an exchange’s review on Trust Pilot. More importantly, confirm if an app has been hacked in the past and the owners’ reaction to the hack. Did they quickly acknowledge the hack? How much was stolen? Was it an insider-accused hack?
Where Do Beginners Invest in Bitcoin?
Beginners use exchanges to invest in bitcoin. Therefore, choosing an exchange or an app that aligns with your core goals is important. You can check out these other exchanges to find the best app for bitcoin trading and investment. You can also use an exchange's demo account to practice trading before investing real money.
What Are The Risks Of Trading Bitcoin?
Bitcoin and other crypto assets can be incredibly volatile. Bitcoin dropped to around $19,805 in August 2022—a sudden low from 2021’s all-time high, wiping out many retailers’ investments. There is a real risk of losing all your investments, so it's important to consider your investment goals and financial strategies before investing. Are you investing in bitcoin for the long-term or short-term? Are you investing for retirement, or do you have some spare cash and want to buy some bitcoins? What's your long-term target? When you have a plan, you can easily map out an entry and exit strategy, greatly increasing the opportunity to earn a positive ROI and mitigate losses.
Other risks of trading bitcoin includes:
- If you have a diversified cryptocurrency portfolio, a bitcoin winter market can influence other tokens. Bitcoin and ethereum often have economic impact on tokens, including metaverse native cryptocurrencies and NFTs.
- Bitcoin price swings: While day trading is a good way to make money from bitcoin, the cryptocurrency often has price swings that can become fatal to your bottom line. If you do not have in-depth experience of day trading, including reading technical indicators and opening and closing positions at the right time, there is a risk of losing your investment. Do not invest more than you are willing to lose. Another approach to day trading would be to use automated trading apps.
Bottom line: Invest in bitcoin wisely and carefully. Do not invest more than what you are willing to lose. Educate yourself on cryptocurrency investment.
Past performance is not an indication of future rewards.
Best Bitcoin Trading App UK- Our Conclusion
eToro is hands down the best bitcoin trading app UK. From reasonable leverages to copy trading and social investment, very low spreads, high liquidity, an intuitive mobile application, impressive resources, and a community-based educational and investment platform, eToro is the leading bitcoin trading app for UK residents.
eToro Money—a native eToro feature is only fully available to UK traders. While users from other countries can use the eToro Money wallet, only UK users can request the eToro debit card. eToro Money allows traders to deposit as much as $250,000 at once, while traders that deposit with their credit/debit card cannot exceed the $40,000 limit. With the eToro debit card, UK traders can pay for items anywhere in the world, and withdrawals are instant.
Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.
FAQs
eToro is the best crypto trading application. Other notable contenders include Margex, Alvexo, and Skilling.
A crypto exchange is a platform where traders can buy, sell, swap, and hold cryptocurrencies. Crypto exchanges have unique features; for example, some exchanges have cold wallets where users can keep their cryptocurrencies while other do not. A crypto exchange must be licensed and regulated to operate within any jurisdiction. The best crypto exchanges have deep liquidity, great leverages, and support a large number of cryptocurrencies, especially the major cryptos.
Yes, you can buy bitcoin from your phone through your crypto app. Most major cryptocurrencies have seamlessly integrated apps that work just as well as the web traders.
Trading bitcoin isn't easy, and you shouldn't do it because of the prospect of earning enormous ROI. Before you trade bitcoins, educate yourself intently and never invest more than you are willing to lose. Many crypto exchanges have endless resources to help people become experienced traders. You can also utilize demo accounts of exchanges that offer the feature. One great resource to check is the eToro social trading feature.
Many people have made incredible profits from bitcoin trading. For example, early adopters of bitcoin in 2011 reaped more than 2900% ROI when bitcoin rose from $1 in February 2021 to $30 just a few months later. In the mid-2010s, bitcoin rose to more than 1 million percentage increase (although its volatility often rocked many short-term traders). In 2021, bitcoin reached an all-time high of over $65,000 per coin before dropping to new lows of around 19,000 per coin in 2022. The metric suggests that early adopters who buy bitcoin when it's at its lowest dip and hold for a long time often reap the greatest returns. What is the best crypto app?
What is a crypto exchange?
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