The ByteTree Broker Survey 2025
ByteTree clients often ask me, Which is the best broker?
There are many “brokers” where you can buy and sell equities, bonds and funds in the UK, and many more in Europe and beyond. I don’t think anyone knows which is the best for two reasons. The first is that no one uses every single broker, so no one can fairly judge. The second reason is that it depends on what you are looking for. A broker that is good at UK stocks might fall short when you want to trade in Germany or Japan. Similarly, a broker that can trade stocks all over the world seamlessly will likely struggle when it comes to dealing in UK-managed funds.
Identifying the best broker(s) is a particularly essential challenge for ByteTree because the strategies we run for our clients are multi-asset in nature. We trade stocks, bonds, investment trusts, unit trusts, foreign stocks, and ETFs. No broker is a master at trading all of these assets, and that is why this survey is so important. It’s fine to feel comfortable with the clunky broker you’ve always had, but there is no harm in having a second or even a third account to have sufficient market coverage. In this day and age, it's easy to do, and it makes good sense.
ByteTree is well-positioned to fulfil the important mission of identifying the best broker(s). Our clients are primarily based in the UK but also reside worldwide. They use different platforms and are therefore well-placed to evaluate which platforms work the best and which do not. We sent out a survey to our clients and have collated the results.
Broker Survey Results
The survey questions ranged from which brokers are most widely used to which are the best on execution, costs, customer service, fund coverage, FX charges, international stock availability, and portfolio tools. I will go through each in turn, highlighting the winner(s) in each category, the runners-up, and the recipients of the wooden spoon. Read on to see what ByteTree’s clients had to say about the UK brokers.
The Multi-Asset Investor is issued by ByteTree Asset Management Ltd, an appointed representative of Strata Global which is authorised and regulated by the Financial Conduct Authority. ByteTree Asset Management is a wholly owned subsidiary of ByteTree Group Ltd.
General - Your capital is at risk when you invest, never risk more than you can afford to lose. Past performance and forecasts are not reliable indicators of future results. Bid/offer spreads, commissions, fees and other charges can reduce returns from investments. There is no guarantee dividends will be paid. Overseas shares - Some recommendations may be denominated in a currency other than sterling. The return from these may increase or decrease as a result of currency fluctuations. Any dividends will be taxed at source in the country of issue.
Funds - Fund performance relies on the performance of the underlying investments, and there is counterparty default risk which could result in a loss not represented by the underlying investment. Exchange Traded Funds (ETFs) with derivative exposure (leveraged or inverted ETFs) are highly speculative and are not suitable for risk-averse investors.
Bonds - Investing in bonds carries interest rate risk. A bondholder has committed to receiving a fixed rate of return for a fixed period. If the market interest rate rises from the date of the bond's purchase, the bond's price will fall. There is also the risk that the bond issuer could default on their obligations to pay interest as scheduled, or to repay capital at the maturity of the bond.
Taxation - Profits from investments, and any profits from converting cryptocurrency back into fiat currency is subject to capital gains tax. Tax treatment depends on individual circumstances and may be subject to change.
Investment Director: Charlie Morris. Editors or contributors may have an interest in recommendations. Information and opinions expressed do not necessarily reflect the views of other editors/contributors of ByteTree Group Ltd. ByteTree Asset Management (FRN 933150) is an Appointed Representative of Strata Global Ltd (FRN 563834), which is regulated by the Financial Conduct Authority.
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