To help choose a broker that offers CFD trading in the United Kingdom, we compared the spreads of UK CFD Brokers, trading platforms and features. All 2023 CFD brokers listed are FCA regulated, with offices in the UK.
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Best CFD trading platform UK List
The September 2023 best cfd trading platform UK list is.
| Broker | Our Rating | Regulation | Standard EUR/USD Spread |
Standard GBP/USD Spread |
Standard AUD/USD Spread |
Raw EUR/USD Spread |
Raw GBP/USD Spread |
Raw AUD/USD Spread |
Commissions (USD Base) |
MetaTrader 4 | MetaTrader 5 | cTrader | Execution Speed | Minimum Deposit | Currency Pairs | Crypto CFDs | Retail Leverage | Prof. Leverage | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
9.33 |
FCA, ASIC CySEC, DFSA |
1.12 | 1.69 | 1.22 | 0.1 | 0.6 | 0.3 | $3.50 |
|
|
|
77ms | $0 | 62+ | 12+ | 30:1 | 500:1 |
|
|
5.83 |
ASIC, CySEC, MAS FCA, FMA, DFSA EFSA, FSA, FSCA |
1.70 | 2.3 | 1.4 | - | - | - | - |
|
|
|
140ms | $100 | 71+ | 15+ | 30:1 | 300:1 |
|
|
7.17 |
ASIC, CySEC, MFSA FCA, FSA, FINRA GFSC |
1.0 | 2.0 | 1.0 | - | - | - | - |
|
|
|
130ms | $200 (Australia), $50-$100 (EU) | 49+ | 46+ | 30:1 | 400:1 |
|
|
6.83 | ASIC, MAS, FCA | 0.70 | 1.1 | 2.2 | 0.07 | 0.011 | 0.8 | $2.50 |
|
|
|
95ms | $150 | 84+ | 25+ | 30:1 | 500:1 |
|
|
7.17 |
ASIC, MAS, FCA CIRO, FMA, BaFin |
1.12 | 1.30 | 1.64 | 0.5 | 0.9 | 0.6 | $2.50 |
|
|
|
138ms | $0 | 338+ | 19+ | 30:1 | 500:1 |
|
|
5.42 |
FCA, DFSA, CySEC BaFin, CMNV, KNF |
0.9 | 1.4 | 1.3 | 0.9 | 0.14 | 0.13 | - |
|
|
|
160ms | $250 | 49+ | 16+ | 30:1 | 500:1 |
|
|
8.33 |
ASIC, FSCA CBI, KNF, CIRO ADGM, FSC-BVI |
- | - | - | - | - | - | - |
|
|
|
160ms | $100 | 55+ | 15+ | 30:1 | 400:1 |
|
|
8.17 |
NFA, CFTC, CBI ASIC, FCA, MAS CIRO, JFSA |
- | - | - | - | 0.08%-0.2% |
|
|
|
110ms | $0 | 100+ | - | 30:1 | 500:1 |
|
Our annual best forex trading platforms in the UK list focused primarily on forex trading. Still, CFD traders have their own specific weightings based on trading more than currency from commodities to shares. We created a new subset for UK traders to help choose a broker when your primarily planning to trade CFDs as a UK resident.
Forex Panel Score
Average Spread
EUR/USD = 0.1
GBP/USD = 0.6
AUD/USD = 0.3
Trading Platforms
MT4, MT5, cTrader, TradingView, Capitalise.ai
Minimum Deposit
$0
Why We Recommend Pepperstone
The advanced software solution coupled with tight spreads makes Pepperstone the best broker for CFD trading platforms. Funding your account is easy, with various fee-free deposit and withdrawal methods such as credit cards and e-wallet options. Pepperstone also offers great 24/5 customer support.
Pros & Cons
Broker Details
Pepperstone Had Advanced Software And Tight Spreads
In 2023, Pepperstone hit some major home runs at the Investment Trends Awards, winning 5 main categories. We agree. As such, our top UK CFD broker in 2023 was Pepperstone. This was based on several criteria for CFD providers in the United Kingdom, with Pepperstone having superior:
The tight spreads offered by Pepperstone for a large range of asset classes (+700 CFD instruments) result from the deep price competition among different liquidity providers.
According to our group of analysts, presented below are some of the main characteristics of this online broker.
Pepperstone Trading Accounts
Before we move onto Pepperstone’s diverse range of CFDs, it’s worth noting the broker’s competitiveness concerning forex trading via the broker’s two account types: a Standard Account or Razor Account.
The Standard Account is a great choice for beginners, thanks to its commission-free pricing structure. Minimum spreads are also as low as 0.6 pips for major currency pairs, very competitive for a no-commission account.
As shown in the table below, this is some of the best commission-free pricing currently available to retail traders.
|
No Commission Spreads: Standard Accounts
|
|||||
|---|---|---|---|---|---|
|
1.10 | 1.20 | 1.40 | 2.00 | 1.50 |
|
0.70 | 2.20 | 1.10 | 1.60 | 1.60 |
|
1.90 | 2.00 | 2.40 | 2.30 | 2.50 |
|
1.40 | 2.50 | 2.50 | 2.60 | 2.60 |
|
1.20 | 1.80 | 1.90 | 2.30 | 2.30 |
|
1.32 | 1.95 | 1.37 | 1.87 | 1.73 |
|
1.30 | 1.70 | 2.10 | 1.70 | 2.10 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 01/09/2023
Standard Account Forex Broker Spreads
You can use this account with MetaTrader 4, MetaTrader 5, and Capitalise.ai.
The second option is Pepperstone’s ECN-style pricing structure via its Razor Account type. This account allows you to trade institutional-grade spreads from 0.0 pips plus commission and is ideal for algorithmic traders using Expert Advisors (MetaTrader) or cBots (cTrader).
There are two types of Razor Accounts, one for MetaTrader and Capitalise.ai trading platforms and one for cTrader and TradingView platforms.
If you use MetaTrader or Capitalise.ai, commission fees are $3.50 (£2.25) per side per 100k traded. cTrader and TradingView commission is a USD $6.00 (round-turn) converted to your base currency for each lot.
When compared to other top forex brokers below, Pepperstone’s average spreads are ultra-competitive for spread-based accounts.
|
Raw Spread comparison
|
|||||
|---|---|---|---|---|---|
|
|
0.12 | 0.22 | 0.40 | 0.43 | 0.50 |
|
0.10 | 0.20 | 0.30 | 0.50 | 0.30 |
|
0.20 | 0.20 | 0.40 | N/A | 0.30 |
|
0.44 | 0.42 | 0.40 | 0.30 | 0.83 |
|
0.17 | 0.30 | 0.54 | 0.68 | N/A |
|
0.20 | 0.40 | 0.50 | 0.70 | 0.70 |
|
0.10 | 0.50 | 0.60 | 0.80 | 1.10 |
|
|
n/a | 0.50 | 0.60 | 0.40 | 0.30 |
|
0.44 | 1.23 | 1.13 | 1.23 | 1.41 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 01/09/2023
Compare Lowest Spread Forex Brokers
Minimum Deposit and Funding Methods
There is no minimum deposit requirement for Standard or Razor accounts, although the broker recommends at least $200 to get started.
When opening an account, funding methods include standard bank transfer, credit card options, and popular online payment methods such as BPay, PayPal, Skrill, and Neteller.
Pepperstone Trading Platforms
Integrated with high standards of security and fast order execution, Pepperstone offers leading CFD trading platforms, including:
In addition to trading platforms, you can social trade with DupliTrade, Pelican, and MetaTrader Signals.
MetaTrader 4 and 5 Trading Platforms
Most traders with Pepperstone are likely to use one of the MetaTrader trading platforms.
MetaTrader 4 is the most popular trading platform in the Pepperstone platform suite and is, in fact, the most popular platform worldwide. This platform has all the essential features to trade successfully, including a huge library of expert advisors to automate your trading.
MetaTrader 5, while not (yet) as popular as MetaTrader 4, is much the same but with more features. So if you want greater trading analysis, MT5 can be a better choice. MT5 is also a better choice for trading centralised products such as stocks and certain ETFs, Indices, and Cryptos.
Both MT4 and MT5 can be accessed through your phone, tablet, or PC.
Some of the main MT4 features include:
While less popular, cTrader is a worthy competitor and alternative to MetaTrader. Users of cTrader appreciate its user-friendly interface, fast entry and execution, Depth of Market pricing, and extra charting feature. Automation is available through the use of cBots with cTrader Automate.
Pepperstone also offers a range of additional trading alternatives, including Capitalise.ai, for algorithmic trading. This platform is excellent for traders who need to learn to code since you can create algorithms without writing your own scripts.
With over 100 types of charts that you can trade directions within, TradingView, as an advanced charting tool, is one of the best choices for deep trading analysis.
A range of social trading platforms is also available, including Pelican. It is an innovative, all-in-one mobile app, exclusive to UK clients and DupliTrade.
Pepperstone Trading Products
Pepperstone’s retail investor accounts allow UK-based traders to trade on Contracts for Difference (CFD) on 4 financial markets (not including spot Forex currency pairs). These include:
Please note, although Pepperstone has offered Cryptocurrency CFDs (i.e. Bitcoin and Bitcoin Cash) to UK traders in the past, recent changes to FCA regulation mean cryptos are no longer available to retail UK traders. Professional traders, however, will be able to trade Cryptos.
Our Pepperstone CFD Broker Verdict
Overall, the advanced software solution coupled with tight spreads makes Pepperstone the best broker for CFD trading platforms. Funding your account is easy, with various fee-free deposit and withdrawal methods such as credit cards and e-wallet options. Pepperstone also offers great 24/5 customer support.
Forex Panel Score
Average Spread
EUR/USD = 1.7
GBP/USD = 2.3
AUD/USD = 1.4
Trading Platforms
Plus500 Trading Platform
Minimum Deposit
$0
Why We Recommend Plus500
Plus500 is a great option for UK and London traders new to trading. The CFD provider offers an easy-to-use trading platform, demo accounts, 24/7 support, educational resources, and lower entry costs in comparison to the other forex brokers in the UK industry.
Pros & Cons
Broker Details
Plus500 Offers A Trading Platform With Risk Management Tools
When it comes to CFD trading, Plus500 is our top CFD provider for beginners. It is because Plus500 offers a tremendous proprietary trading platform with helpful risk management tools such as guaranteed stop loss. The provider also has access to various financial markets (+2000 CFD contracts) and instruments from different sectors.
Beginner traders will also appreciate the free demo account, which gives new UK clients the opportunity to practice trading without risking their own money:
Plus500 Trading Accounts
UK-based traders can open CFD accounts with an FCA regulated broker by depositing only GBP 100. Plus500 offers most of its CFDs with the following advantages:
Plus500 Trading Platforms
Plus500 only offers one trading platform, which is their proprietary platform. That said, this platform has an abundance of selling points that are particularly suitable for beginners.
It is easy to use and performs well on both mobile and as a WebTrader. There are also great charting features, with 110 indicators and 20 drawing tools.
Elsewhere, there are great order customisation tools. These include stop limits, stop losses, and guaranteed stop losses. It will help control your risk and provide negative balance protection, which safeguards against market volatility in case a position hits negative territory.
Plus500 Trading Products
Plus500’s product list is solid, with 71 Forex pairs and over 1100 stocks as highlights for UK traders.
In addition to a smaller number of indices, commodities, and ETFs, Plus500 offers 308 options as an alternative investment vehicle, distinguishing its product range from other brokers.
As with other UK brokers on this list, cryptocurrency trading is prohibited (unless you qualify as a professional trader) due to FCA regulations.
Plus500 Broker Verdict
In summary, Plus500 is a great option for UK and London traders new to trading. The CFD provider offers an easy-to-use trading platform, demo accounts, 24/7 support, educational resources, and lower entry costs in comparison to the other forex brokers in the UK industry.
View Plus500 ReviewVisit Plus500
*Your capital is at risk ‘72% of retail CFD accounts lose money’
Forex Panel Score
Average Spread
EUR/USD = 1.0
GBP/USD = 2.0
AUD/USD = 1.0
Trading Platforms
eToro Trading Platform
Minimum Deposit
$50
Why We Recommend eToro
eToro is widely known as the best social trading broker industry-wide, and rightly so. This is by no means the only benefit with the broker, however. eToro has an intuitive and easy-to-use proprietary platform, great for beginners, with a good range of stock CFDs and ETFs to trade.
Pros & Cons
Broker Details
eToro Provides Great Tools For Social Trading
eToro is one of the best social trading CFD brokers in the UK, with a huge social trading community of over 20 million investors from more than 100 countries. The broker is particularly well-known for an award-winning CopyTrader platform that allows anyone to trade at the same level as the top traders in the world.
Some of the main advantages include:
eToro Trading Accounts
Like Plus500, eToro only offers one main account to UK clients: a Standard account. This account has no commissions and a minimum variable spread of 1 pip for EUR/USD, which is the main trading cost to be concerned with.
All you require to open this account is $50, with no funding costs. This keeps costs low and easier to manage, particularly suited for beginner CFD traders.
A swap-free Islamic account is also available, which complies with Sharia Law. You will need $1000 to open an Islamic account to get started. Unlike other brokers, eToro does not replace the swap by widening the spread or charging an administration fee.
eToro Trading Platforms
eToro stands out for its range of in-house platforms, from the flagship eToro trading platform to its social trading, CopyTrader platform.
With their proprietary platform, eToro seamlessly merges regular, self-directed trading and copy trading. Charting is also a highlight, especially if you utilise ProCharts, which gives you access to 66 indicators and 13 drawing tools. The eToro platform is available as a WebTrader or a mobile trading app.
As additional social trading tools, eToro offers their CopyTrader and Smart Portfolios for individual CFD traders (CopyTrader) and those who prefer a fund manager style approach (CopyPortfolios) to copy successful, expert trader strategies worldwide.
eToro Trading Products
Through CFDs, UK traders have market access to different instruments. Although they don’t own the underlying asset, they can participate in the movement of the tool. Of course, there is a risk warning because the position can result in a win or a loss.
eToro clients with CFD accounts can have access to the following markets:
eToro Broker Verdict
eToro is widely known as the best social trading broker industry-wide, and rightly so. This is by no means the only benefit with the broker, however. eToro has an intuitive and easy-to-use proprietary platform, great for beginners, with a good range of stock CFDs and ETFs to trade. The broker also provides great tools for social trading in CopyTrader (for individuals) and Smart Portfolios (for groups of social traders).
*Your capital is at risk ‘68% of retail CFD accounts lose money’
Forex Panel Score
Average Spread
EUR/USD = 0.07
GBP/USD = 0.011
AUD/USD = 0.8
Trading Platforms
MT4, TradingView, Web Trader
Minimum Deposit
$150
Why We Recommend City Index
City Index is a multi-award-winning CFD broker with an excellent proprietary platform. City Index is particularly suited for spread betting, for which you don’t pay taxes over capital gains.
Pros & Cons
Broker Details
City Index Offers Tight Spreads And Competitive Commissions For Spread Betting
City Index has the best UK spread betting platform and is an award-winning broker, winning the 2021 best CFD broker from Online Personal Wealth Awards.
The reason City Index is considered one of the best brokers for spread betting is that it offers tight spreads starting from 1 point in the main indices (such as the FTSE 100) and competitive conditions for forex pairs (minimum spread of 0.5 points for EURUSD). Trading with spread betting is tax-efficient for UK residents because they do not pay capital gains tax (CGT) or stamp duty.
Furthermore, City Index gives UK traders the opportunity to trade with:
City Index Account Type
You can open one of two account types with City Index: a Standard or MT4 account. The main difference between these accounts is the platform offered.
With the standard account, you can use the City Index Trading platform and its exclusive features, such as guaranteed stop-losses and smart signals. In contrast, the MT4 account gives you access to MetaTrader 4.
While City Index products are mostly variable, some are fixed at certain times of the day. You can find out which spreads are fixed using their Market360 feature.
Spreads for either account are competitive, starting as low as 0.5 pips when trading Forex and 1 pip for major indices. One major cost benefit of City Index is that Forex products are commission-free, while for share CFDs, commissions are only around 0.08%, which is competitive.
City Index Trading Platforms
City Index offers either the popular MetaTrader 4 or its own, award-winning proprietary trading platform, available via the web or on your mobile device.
MT4 lives up to its reputation as the most popular forex trading platform. At the same time, City Index delivers a great trading experience, providing UK clients access to City Index’s complete CFD product offering in addition to excellent trading tools and various advanced features.
In terms of additional trading tools, the City Index Trading Platform offers Smart Signals, Performance Analytics with PlayMaker, advanced charting with TradingView, and Market Buzz with Trading Central.
Traders using the City Index Platform can also protect their trades with a guaranteed stop-loss. This type of order is not available with MetaTrader 4.
City Index Trading Products
City Index gives UK spread betters access to 8000+ CFD instruments from different markets and allows spread betting on:
With access to several markets and the right conditions of leverage, UK traders have the tools to execute their trading strategies flawlessly. Moreover, with no cost of commissions, given the fact that the only cost is the spread when the order is executed, they can participate in the market’s movements under competitive conditions.
City Index Broker Verdict
In conclusion, City Index is a multi-award-winning CFD broker with an excellent proprietary platform. City Index is particularly suited for spread betting, for which you don’t pay taxes over capital gains. The tight spreads, competitive commissions, and access to several markets also create good conditions for spread betting.
*Your capital is at risk ‘71% of retail CFD accounts lose money’
Forex Panel Score
Average Spread
EUR/USD = 0.5
GBP/USD = 0.9
AUD/USD = 0.6
Trading Platforms
MT4, CMC NGEN
Minimum Deposit
$0
Why We Recommend CMC Markets
CMC Markets’ Next Generation platform is well suited for trading with shares, with over 9500 products and excellent features. The broker also provides competitive trading accounts, commissions, and a wide range of markets.
Pros & Cons
Broker Details
CMC Markets Has A Large Array Of Share CFDs And Low Commissions
CMC Markets offers its industry-leading Next Generation trading platform, which has the best share and CFD trading conditions. One of the main reasons this is the case is due to some of the lowest commissions in the industry. The other is the number of share CFDs that CMC Markets gives UK traders access to.
Major benefits of CMC Markets:
CMC Markets Account Types
CMC Markets offers two main trading accounts based on whether you’re a spread better or CFD trader:
Spread Betting account offers zero-commission trading and spreads starting at 0.3 points. This account is unique to UK traders and CMC Markets as a broker.
CFD account: with this account, you will only pay a commission when trading shares, which starts from 0.10% or 2 cents per share for US and Canadian-listed shares.
To open either account requires no minimum deposit, although we’d recommend at least GBP 200. Please note that there are funding costs when using acredit card (1%) or debit card (0.6%). Bank transfer incurs no charges.
CMC Markets Trading Platform
Like City Index, CMC Markets offers a third-party trading platform and their own superior proprietary platform, Next Generation.
CMC’s Next Generation platform is one of the best in the industry, offering a fast and reliable platform experience that is packed with impressive tools and features. This includes rich charting, with 80 technical indicators, 40 drawing tools and 60 attachable candlestick patterns.
The broker also offers MT4, a solid platform for FX trading. It has its own plugins, including AutoChartist (as a charting algorithmic tool) and FX Blue, a free web-based service for analysing and publishing your trading results.
CMC Markets Trading Products
CMC Markets offers UK-based traders market access to the biggest range of instruments on this list, particularly shares, with over 9,500 global shares available to trade (including popular companies such as Apple, BP, Lloyds Banking Group, Tesco, and Rio Tinto). CMC Markets offers its list of shares from across 4 continents:
There is also a huge range of Forex pairs (338 due to using inverse quotes), 82 indices, 124 commodities, 55 treasuries and a whopping 1000+ ETFs. This gives you plenty of trading choices regardless of your trading preference.
CMC Markets Broker Verdict
In conclusion, CMC Markets’ Next Generation platform is well suited for trading with shares, with over 9500 products and excellent features. The broker also provides competitive trading accounts, commissions, and a wide range of markets. CMC Markets doesn’t enforce a minimum deposit policy, but UK traders need funds in their trading accounts to buy and sell CFDs.
Forex Panel Score
Average Spread
EUR/USD = 0.09
GBP/USD = 0.14
AUD/USD = 0.13
Trading Platforms
MT4, xStation 5
Minimum Deposit
$0
Why We Recommend XTB
XTB’s xStation 5 is an excellent platform and a good choice for trading ETFs because it has a variety of instruments, competitive spreads, low commissions and is a well-known and trusted brand around the world.
Pros & Cons
Broker Details
XTB
XTB is an international forex broker that offers UK-based traders the widest choice of ETFs (Exchange Traded Funds). It does this through the broker’s excellent xStation 5 trading platform. Its benefits include its user-friendly interface, innovative features, and extensive educational materials.
One of the factors that any UK trader must consider is access to different instruments because it will offer new trading opportunities. On this note, XTB provides a wide variety of markets, especially regarding ETFs, with 138 Exchange Traded Funds available.
Overall, XBT has several benefits:
XTB Trading Accounts
XTB offers 1 type of trading account for UK retail traders: the standard account. Features include:
XTB Trading Platforms
Only one platform is available for UK traders, but it is a good one: XTB’s proprietary, X Station 5, as a WebTrader or on mobile.
X Station 5 combines a minimalist, clean design with advanced trading tools in an easy-to-use platform that will suit any level of trader.
Highlights include 30 drawing tools, 39 technical indicators, economic news releases at the charts’ bottom axis, and colour-coded heat maps to show top-moving assets.
XTB Trading Products
XTB offers a vast array of 1851 share CFDs in the UK, 57 Forex pairs and the largest number of ETFs (138) available to trade on this list.
The only market you will not have access to as a UK retail trader is Crypto CFDs, given FCA regulations unless you are a Pro Trader in the UK.
XTB Broker Verdict
In conclusion, XTB’s xStation 5 is an excellent platform and a good choice for trading ETFs because it has a variety of instruments, competitive spreads, low commissions and is a well-known and trusted brand around the world.
Forex Panel Score
Average Spread
EUR/USD = 0.9
GBP/USD = 1.5
AUD/USD = 1.1
Trading Platforms
MT4, MT5, AvaTradeGo, AvaOptions
Minimum Deposit
$100
Why We Recommend AvaTrade
In addition to being a low-cost, fixed spread broker, AvaTrade offers UK traders many benefits, including an extensive range of proprietary and third-party trading platforms, social trading options, and a solid mix of CFD products to choose from.
Pros & Cons
Broker Details
AvaTrade Has A Wide Range Of Trading Platforms And Social Trading Options
AvaTrade has the best and most diverse range of CFD trading platforms on this list. These include both popular MetaTrader platforms and AvaTrade’s three proprietary platforms: AvaTrade Go, AvaOptions, and AvaSocial.
The broker is unique because it offers fixed spreads, making it different from other brokers that mostly provide variable spreads. This gives it an advantage in the high-risk (and potentially high-cost) world of CFD trading.
Having fixed spreads means spreads remain locked in no matter the circumstances. Typically, a fixed spread is 2-3 pips on average, while variable spreads can be anywhere from 1 and 4 pips, even higher in extreme market volatility.
Indeed, AvaTrade has a lot going for it, including:
AvaTrade Trading Accounts
AvaTrade’s Retail account is intended for retail traders acting as a standard account with zero commissions. While minimum average spreads are slightly wider at just under a pip, having fixed spreads means the prices will not vary in volatile market conditions. As such, this account is well-suited for beginners or risk-averse traders.
To open an account, you need $100, and to fund it, you can use a range of methods, including debit/credit card, Paypal, and Skrill.
AvaTrade Trading Platforms
As mentioned, AvaTrade has an extensive range of proprietary, third-party, and social trading platforms, well suited for CFD trading.
It includes the full MetaTrader suite of MT4 and MT5, two of the most popular third-party trading platforms, as the broker’s own AvaTradeGo, AvaOptions, and AvaSocial platforms.
MT4 and MT5 are both designed for CFD trading, although for the full range of products, we recommend using MT5.
AvaTrade Go With AvaTrade Go, you also have access to Trading Central.
There are also two third-party social trading platforms, DupliTrade, which you can integrate with MT4, and ZuluTrade, one of the market’s most popular copy trading platforms.
AvaTrade Trading Products
AvaTrade offers a little of everything, with Forex, stocks, indices, commodities, bonds, ETFs, and options all available to trade.
It includes a good mix of 55 Forex products and 632 stock CFDs. You can also trade 44 options with the AvaOptions platform, 42 of which are Forex instruments.
See below for the full product range, including a disclaimer on cryptocurrency trading, which is prohibited in the UK.
AvaTrade Broker Verdict
In addition to being a low-cost, fixed spread broker, AvaTrade offers UK traders many benefits, including an extensive range of proprietary and third-party trading platforms, social trading options, and a solid mix of CFD products to choose from.
Forex Panel Score
Average Spread
EUR/USD = N/A
GBP/USD = N/A
AUD/USD = N/A
Trading Platforms
Trader Workstation
Minimum Deposit
$0
Why We Recommend Interactive Brokers
IB is the best choice for day traders in the UK based on low costs, exceptional trading software capabilities and execution, and offering one of the most diverse ranges of markets. The broker is also recognised worldwide, reflected by multiple awards, including Best Online Broker in 2020 by Barron’s.
Pros & Cons
Broker Details
With over 40 years of business history, Interactive Brokers Group is an experienced and trusted global brokerage providing clients with direct access, trade execution, and clearing services for a range of markets. Our review has found that IB offers the best trading conditions and software that will suit UK day traders.
With IB, traders can access diverse asset classes such as stocks, options, futures, foreign exchange, bonds, mutual funds, ETFs, and spot commodities through one integrated trading account. Clients can also access some of those asset classes via CFDs.
Advantages of signing up with IB:
Interactive Brokers Trading Accounts
IB offers one account for retail traders, their IBKR Lite Account. As you can see from the image below, the account features are complex, so it is suited for more experienced traders.
To break it down, commissions will vary based on your monthly trading volume. Essentially, the more you trade, the cheaper your commissions will be (e.g. if you trade more than USD 5 million a month, you will pay 0.08% of a basis point x the trade value). As such, this account is designed for more sophisticated active day traders.
Spreads are ultra-competitive, too, starting at 0.1 pips for major Forex pairs.
You can only transfer via bank wire in the UK to fund your account.
Interactive Brokers Trading Platforms
Day traders have a choice of desktop and web-based trading platforms and mobile apps for iOS and Android devices.
IB Trader Workstation is the broker’s flagship desktop trading platform, which ensures direct access to comprehensive trading, order management, charting, and watchlist tools.
Clients can use more than 100 order types and algos aimed to reduce risk, accelerate execution, allow privacy, ensure price improvement, time the market, or just simplify the trading process via advanced trading features.
Client Portal is IB’s simple and intuitive web-based platform, visualising key account metrics at a glance and granting access to detailed price quotes, advanced charting tools, and IB’s live news stream.
The IBKR Mobile app also allows direct access to account management tools and more than 135 markets while on the go. It features two-factor authentication for greater account security and provides the same market-moving data as the broker’s desktop platform.
Interactive Brokers Trading Products
Interactive Brokers offers one of the most diverse product ranges in the industry. As a UK client, you can access 135 international markets in 33 countries.
This includes over 100 currency pairs, stocks, ETDs on over 80 stock exchanges and a whopping 1 million bonds (including municipal securities). Of particular note are the over 40,000 mutual funds available to trade, unique to IB.
No other broker offers the sheer number and range of instruments for UK traders that we’ve come across.
Again, this highlights that IB is targeting more sophisticated traders who want variety and plenty of CFD trading options.
Interactive Brokers Verdict
In conclusion, IB is the best choice for day traders in the UK based on low costs, exceptional trading software capabilities and execution, and offering one of the most diverse ranges of markets. The broker is also recognised worldwide, reflected by multiple awards, including Best Online Broker in 2020 by Barron’s.
View Interactive Brokers ReviewVisit Interactive Brokers Markets
In finance, Contracts for Difference (CFD) are derivative instruments that let you speculate on the price movement of different asset classes without owning the underlying asset. This is completed through a UK CFD trading platform. The underlying asset can be anything from shares, indices, commodities, currencies, ETFs, etc. These can be traded during forex market open hours from Monday to Friday.
CFD trading comes with multiple advantages, and one of them is the ability to trade on margin. Margin trading means that you’re only putting a percentage of the total notional value of a trade. Some share prices are quite high, and it can be hard to buy for retail investors with small accounts. As an example, Amazon shares are quoted above $2,000 per share.
Secondly, with CFD trading, UK investors can even take advantage of falling stock market prices. Other CFD trading advantages include:
On the flip side, forex brokers in the UK that offer CFD trading charge the spread or additional commissions.
Risk Warning: CFDs are complex instruments and may not be suitable for all types of investors. Make sure you understand how CFD works before risking any of your hard-earned money.
Evaluating the top CFD platforms in the UK required an exhaustive, meticulous approach, primarily centred on FCA regulation. We understand that traders place paramount importance on the trustworthiness of their chosen broker. As such, we diligently vetted each platform’s regulatory credentials, ensuring they are in compliance with the Financial Conduct Authority (FCA) here in the United Kingdom. This oversight is critical for ensuring not just legal compliance but also the financial security and ethical conduct of the broker.
Our methodical approach doesn’t end with regulation, however. We also analysed the brokers in terms of fees, trading environment, and platform offerings. The comprehensive assessment ensures that the broker not only complies with stringent regulatory requirements but also offers a competitive trading experience. In doing so, we strives to offer you a list of CFD platforms that not only adhere to the highest regulatory standards but also align with your trading needs. You can view similar comparisons by navigating back to the compare forex brokers UK homepage.
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