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Written by:
Fact checked by:
Updated:
Jan 2023
Recommended for
  • beginners 2.5/5
  • equity trading 4.3/5
Trusted broker
  • Top-tier regulation in the UK
  • Compensation in case of broker bankruptcy (terms apply)
  • Long track record - founded in 1992
Popularity
208 people chose this broker in the last 6 months

Our take on Barclays

Barclays is a UK-based bank. Barclays Smart Investor has low stock, fund and bond fees. The non-trading fees are low as well, no inactivity or withdrawal fees are charged. Barclays has a solid background as it has a long history, is listed on multiple stock exchanges, has a banking background, and is regulated by top-tier authorities. Finally, the fundamental research tools, such as analysis and news, are high-quality. It is a good choice for beginner investors. On the other hand, Barclays Smart Investor lacks products, like options or CFDs. Unless you have a current account with Barclays, you can't manage your investments on the go as there is no mobile trading platform. The customer service is very poor and it lasts very long for solving a problem. BrokerChooser gave Barclays a 4.3/5 rating based on analyzing 500+ criteria and testing via opening a live account.

BrokerChooser score
4.3 /5
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Stock fee
Low
Fractional shares
No
Minimum deposit
$0
Inactivity fee
$0
Pros
Cons
Low fees
Limited product portfolio
Solid company background
Current bank account is needed for mobile platform
Great fundamental research
Poor customer support
Expert opinion
“I recommend Barclays for long-term investors looking for a broker with low fees and solid background.”
Gergely Korpos
Co-founder / CPO

Barclays main highlights

🗺️ Country of regulation UK
💰 Trading fees class Low
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $0
🕖 Time to open an account >3 days
💳 Deposit with bank card Available
👛 With electronic wallet Available
💱 Number of base currencies 1
🎮 Demo account provided No
🛍️ Products offered Stock, ETF, Fund, Bond

Barclays summary

To read much more details about the broker's services and features, expand on the sections below.

Barclays review
Fees

Score: 3.6/5
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Barclays Smart Investor provides low trading fees for stocks, ETFs, bonds, and funds. It's also great that no deposit, withdrawal, or inactivity fees are charged. On the other hand, there is a volume-based monthly customer fee for holding assets.
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Barclays review
Account opening

Score: 3.5/5
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Barclays Smart Investor offers a fully digital account opening with no minimum deposit. On the negative side, the account verification took long and only UK residents can open an account with Barclays.
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Barclays review
Deposit and withdrawal

Score: 4/5
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Depositing and withdrawal is free of charge with a debit card or bank transfer and is usually processed fast. On the other hand, you can't use electronic wallets and we experienced some difficulties having different bank accounts accepted.
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Barclays review
Web trading platform

Score: 3.5/5
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Barclays Smart Investor has a user-friendly and well-designed web trading platform. It also offers good search functions and transparent order confirmation. However, the platform is not customizable and there is no two-step login option.
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Barclays review
Mobile trading platform

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There is no dedicated mobile trading platform for Barclays Smart Investor. The only way to manage your portfolio if you download Barclay's mobile app. However, to use this app, you need a Barclays Current Account. Because of this additional requirement, we haven't reviewed Barclay's app.
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Barclays review
Desktop trading platform

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Barclays Smart Investor does not offer a desktop trading platform.
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Barclays review
Markets and products

Score: 3.2/5
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Barclays Smart Investor offers stocks, ETFs, bonds, and mutual funds. Unfortunately, the product portfolio covers only the UK market and the number of available products is far from robust.
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Barclays review
Research

Score: 4/5
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Barclays Smart Investor provides good quantitative data, great analysis, and high-quality news. However, charting tools have poor quality.
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Barclays review
Customer service

Score: 0/5
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Barclays's customer service is very poor and it lasts very long for solving a problem.
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Barclays review
Education

Score: 1.5/5
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Barclays Smart Investor has limited educational tools. You can read useful articles and watch general educational videos. However, there are no demo accounts, platform tutorial videos, or webinars.
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Barclays review
Safety

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Barclays is regulated by the top-tier FCA and is a listed company with a banking background, providing a high level of safety for clients.
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Barclays review
Bottom line

All in all, Barclays Smart Investor is a transparent and secure brokerage held by a financially stable global UK bank and is regulated by the top-tier FCA. 

We rated Smart Investors favorably because of its low fees, the safety it provides for account holders and great fundamental research.

Some of its drawbacks include a limited product offering and missing mobile trading platform, as well as poor customer support.

If you are looking for a solid, safe online broker, you can go ahead and give Barclays Smart Investor a try, as the trading and non-trading fees are generally low, the security of your funds are protected to a high level, and the account opening is fully online. 

 

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Barclays review
FAQ

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Author of this review

Adam Nasli

Author of this review

Adam is a motivated finance expert. He joined BrokerChooser in 2018 and has since tested almost all 100+ brokers covered by BrokerChooser. Adam holds a professional degree from CEU and he helps teach finance and programming courses at his alma mater. Previously he worked in the banking sector, including at Citi Bank. He loves researching the financial industry, managing his long-term investments, and trading with algorithms.

Adam Nasli

Analyst Head

Adam is a motivated finance expert. He joined BrokerChooser in 2018 and has since tested almost all 100+ brokers covered by BrokerChooser. Adam holds a professional degree from CEU and he helps teach finance and programming courses at his alma mater. Previously he worked in the banking sector, including at Citi Bank. He loves researching the financial industry, managing his long-term investments, and trading with algorithms.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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