Lightyear Trading Review

Founded in 2020, Lightyear is a fully digital UK-based stockbroker that offers a low-cost investing platform. The app has a clean user interface, global market access, price projections, and a range of other features that make it a good choice for novice investors. However, it does lack the educational content that is usually available with FCA-regulated brokers in the UK. Find out https://www.theinvestorscentre.co.uk/reviews/lightyear-review/

On the plus side, Lightyear has low fees for stocks (around $1 or PS1) and ETFs are free of charge. It also allows users to invest in fractional shares, which is ideal for expensive US stocks. However, it doesn’t offer ISAs or other tax-efficient investment products. Moreover, it has a relatively limited product list, with no CFDs or mutual funds. There are also currency conversion fees and local taxes to be paid (e.g. HM Revenue & Customs stamp duty for UK investors).

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The mobile app is easy to use and is free to download for iOS and Android. Users can start by depositing a small amount of money to try out the platform. To open a full account, you need to provide proof of identity and address. You can do this by uploading your national ID or a selfie taken with the camera in the app.

There is no minimum deposit required to start trading, but the amount you can withdraw depends on your country. There are no additional charges for deposits or withdrawals, but there are limits imposed by your bank or card provider.