Plus Markets, the UK share trading platform, has increased the pressure on the London Stock Exchange by slashing its trading fees and introducing a sliding fee scale enabling its most active members to trade for free.

The market, which was reclassified as an official exchange by the UK regulator two months ago, has cut execution fees for 7,500 UK and European shares and listed funds, in a bid to take more market share from Europe's leading exchanges, including the LSE.