CFD Brokers In The UK

CFD brokers in the UK are popular with British traders. Low fees, high leverage rates and robust regulation attract both beginners and experienced investors. As well as a list of the best UK CFD brokers, we explain how to make your own comparison, considering spreads, FCA licensing, minimum deposits and more.

UK CFD Brokers

Click a broker for details
  1. 1
    AvaTrade

    Ratings
    4.8 / 5
    4.3 / 5
    4.5 / 5
    3.8 / 5
    4.3 / 5
    4.3 / 5
    4.3 / 5
    4.5 / 5
    4.3 / 5
    4 / 5

    $100
    0.01 Lots
    1:30 (Retail) 1:400 (Pro)
    ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM
    CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures
    WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
    Skrill, Wire Transfer, FasaPay, Mastercard, Perfect Money, Swift, MoneyGram, Credit Card, WebMoney, JCB Card, Debit Card, Neteller, Boleto
    USD, EUR, GBP, CAD, AUD
  2. 2
    XTB
    77% of retail accounts lose money.

    Ratings
    4.5 / 5
    4 / 5
    4 / 5
    4.3 / 5
    4 / 5
    4.3 / 5
    4.1 / 5
    3.8 / 5
    4.7 / 5
    4.1 / 5

    $0
    0.01 Lots
    1:30
    FCA, CySEC, KNF, CNMV, DFSA, FSC
    CFDs, Forex, Stocks, Indices, Commodities, Crypto, ETFs
    xStation
    PayPal, Visa, Mastercard, Wire Transfer, Paysafecard, Skrill, Credit Card, Debit Card, Maestro, Neteller
    USD, EUR, GBP, HUF
  3. 3
    CMC Markets
    Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.

    Ratings
    4.8 / 5
    4.5 / 5
    4.5 / 5
    4.3 / 5
    4 / 5
    4.5 / 5
    4.5 / 5
    4.3 / 5
    4.1 / 5
    3.7 / 5

    $0
    0.01 Lots
    1:30 (Retail), 1:500 (Pro)
    FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA
    CFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting
    Web, MT4
    Visa, Mastercard, Wire Transfer, Credit Card, Debit Card, PayPal
    USD, EUR, GBP, CAD, AUD, NZD, SEK, NOK, SGD, PLN
  4. 4
    Eightcap

    Ratings
    4.3 / 5
    4 / 5
    3.6 / 5
    3.8 / 5
    4.3 / 5
    4 / 5
    3.5 / 5
    3 / 5
    4.8 / 5
    4.4 / 5

    £100
    0.01 Lots
    1:30
    ASIC, FCA, CySEC, SCB, CNMV
    CFDs, Forex, Stocks, Indices, Commodities
    MT4, MT5, TradingView
    Neteller, Skrill, Visa, UnionPay, Credit Card, Debit Card, Bitcoin Payments, Wire Transfer, FasaPay, BPAY, PayPal, Dragonpay, PIX Payment
    USD, EUR, GBP, CAD, AUD, NZD, SGD
  5. 5
    FXCC

    Ratings
    3.3 / 5
    3.5 / 5
    3 / 5
    4 / 5
    3.3 / 5
    4.3 / 5
    2 / 5
    2.5 / 5
    4.8 / 5
    4.4 / 5

    $0
    0.01 Lots
    1:500
    CySEC
    CFDs, Forex, Indices, Commodities, Crypto
    MT4
    Skrill, Neteller, Rapid Transfer, Sofort, Paysafecard, Visa, Bitcoin Payments, Credit Card, Debit Card, Mastercard, Wire Transfer, UnionPay, Ethereum Payments, Netbanx Asia, Boleto
    USD, EUR, GBP
  6. 6
    Spreadex

    Ratings
    4 / 5
    3.8 / 5
    4.5 / 5
    4 / 5
    3.8 / 5
    4.3 / 5
    4.3 / 5
    4 / 5
    4.5 / 5
    4.5 / 5

    £0
    £0.01
    1:30
    FCA
    Forex, CFDs, Indices, Commodities, Stocks, Crypto, Bonds, Interest Rates, ETFs, Options, Spread Betting
    Spreadex Platform, TradingView
    Cheque, Wire Transfer, Debit Card, Credit Card, Mastercard, Visa
    USD, EUR, GBP, CAD, CHF
  7. 7
    IC Markets

    Ratings
    4.6 / 5
    4 / 5
    3.5 / 5
    4.6 / 5
    4 / 5
    4.5 / 5
    4 / 5
    3.5 / 5
    3.1 / 5
    4.2 / 5

    $200
    0.01 Lots
    1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
    ASIC, CySEC, FSA, CMA
    CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
    MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade
    PayPal, Skrill, Neteller, Visa, UnionPay, Wire Transfer, Rapid Transfer, Mastercard, POLi, BPAY, Credit Card, Klarna, Swift, SafeCharge
    USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
  8. 8
    Pepperstone
    CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.

    Ratings
    4.6 / 5
    4 / 5
    3.8 / 5
    4.4 / 5
    4.4 / 5
    4.6 / 5
    4.3 / 5
    4 / 5
    4.4 / 5
    4.1 / 5

    $0
    0.01 Lots
    1:30 (Retail), 1:500 (Pro)
    FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
    CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto(only Pro clients), Spread Betting
    MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
    Visa, Mastercard, Credit Card, Debit Card, PayPal, Wire Transfer, POLi, UnionPay, BPAY, Neteller, Skrill
    USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
  9. 9
    Interactive Brokers

    Ratings
    4.5 / 5
    3.5 / 5
    4.5 / 5
    4.3 / 5
    3.3 / 5
    3 / 5
    4.4 / 5
    4.3 / 5
    4.3 / 5
    4.5 / 5

    $0
    $100
    1:50
    FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA
    Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
    Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
    Cheque, ACH Transfer, Wire Transfer, Automated Customer Account Transfer Service, TransferWise, Debit Card
    USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF
  10. 10
    XM

    Ratings
    4.3 / 5
    4.5 / 5
    4.3 / 5
    4.3 / 5
    4 / 5
    4.5 / 5
    4.5 / 5
    4.5 / 5
    4.7 / 5
    3.9 / 5

    $5
    0.01 Lots
    1:30
    ASIC, CySEC, DFSA, FSC, FSCA, CNMV, AMF
    Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures
    MT4, MT5
    Credit Card, Debit Card, Skrill, Neteller, Wire Transfer, Perfect Money, Apple Pay, Google Wallet, TransferWise, Visa, M-Pesa
    USD, EUR, GBP, AUD, JPY, ZAR, CHF, SGD, PLN, HUF

Here is a summary of why we recommend these brokers:

  1. AvaTrade - AvaTrade's 1250+ leveraged CFD products span a wide range of asset classes including stocks, indices, commodities, bonds, crypto, and ETFs. You can speculate on underlying assets in the broker’s feature-rich web and mobile platforms with market-leading research tools to help discover opportunities.
  2. XTB - XTB offers a huge selection of more than 2,100 CFDs spanning forex, indices, commodities, stocks, ETFs, and cryptos (location-dependant). Leverage up to 1:30 is available in the EU and UK, while global clients and pro traders can access up to 1:500. XTB stands out for its CFD trading resources and tutorials to assist traders in developing short-term trading strategies.
  3. CMC Markets - CMC lets you trade CFDs on 12,000+ assets across currencies, indices, commodities, shares, ETFs and treasuries. Spreads are relatively tight, there are no hidden fees and the industry-leading MetaTrader 4 platform is also supported for leveraged trading. Year after year, CMC shines as one of the best CFD brokers in the market.
  4. Eightcap - Eightcap offers a wide range of trading options with 800+ CFDs across stocks, indices, bonds, commodities, and cryptocurrencies (depending on location), with leverage up to 1:30/1:500. It excels in its tools, notably the AI-enabled economic calendar covering 25+ countries with impact filters (high, medium, low). However, its commodities offering, particularly in softs like cotton and wheat, as well as the limited precious metal and energy assets, is its weakest area.
  5. FXCC - FXCC offers a narrow range of CFDs beyond forex with a limited selection of metals, energies, indices and cryptos. However, it stands out with its high leverage up to 1:500, which will serve experienced day traders looking to maximize their buying power while speculating on rising and falling prices.
  6. Spreadex - Trade CFDs on Spreadex's diverse list of instruments with leverage up to 1:30 and highly competitive spreads. While this broker's USP is spread betting, the excellent trading terms and range of markets makes it an equally good choice for CFD trading.
  7. IC Markets - You gain access to over 2,250 CFDs, available for trading 24/5 across popular markets such as forex, commodities, indices, stocks, and bonds. Utilizing deep liquidity and advanced bridge technology, IC Markets ensures optimal conditions for scalpers, hedgers, and algo traders alike.
  8. Pepperstone - Pepperstone maintains its position as one of the fastest and most dependable CFD brokers during our latest round of testing. With execution speeds averaging around 30ms and an outstanding fill rate of 99.90%, the broker ensures a seamless trading experience without requotes or dealing desk interference. It also provides ample trading opportunities across over 1,300 assets.
  9. Interactive Brokers - Over 8,000 CFDs are offered on a vast array of instruments, encompassing stocks, indices, forex, and commodities. Moreover, the TWS platform lends itself to seasoned day traders, offering a comprehensive selection of over 100 order types and algorithms, alongside premium market data sourced from reputable sources such as Reuters and Dow Jones.
  10. XM - Day traders can speculate on leveraged CFDs with zero commissions, spanning popular markets including currencies, equities and commodities. Additionally, the MetaTrader platforms collectively offer dozens of advanced technical indicators built for short-term strategies.

CFD Brokers In The UK Comparison

CFD Brokers In The UK Comparison
Broker CFD Leverage Minimum Deposit Minimum Trade Regulators
AvaTrade logo
1:30 (Retail) 1:400 (Pro) $100 0.01 Lots ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM
XTB logo
1:30 $0 0.01 Lots FCA, CySEC, KNF, CNMV, DFSA, FSC
CMC Markets logo
1:30 (Retail), 1:500 (Pro) $0 0.01 Lots FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA
Eightcap logo
1:30 £100 0.01 Lots ASIC, FCA, CySEC, SCB, CNMV
FXCC logo
1:500 $0 0.01 Lots CySEC
Spreadex logo
1:30 £0 £0.01 FCA
IC Markets logo
1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) $200 0.01 Lots ASIC, CySEC, FSA, CMA
Pepperstone logo
1:30 (Retail), 1:500 (Pro) $0 0.01 Lots FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
Interactive Brokers logo
1:50 $0 $100 FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA
XM logo
1:30 $5 0.01 Lots ASIC, CySEC, DFSA, FSC, FSCA, CNMV, AMF

AvaTrade

"AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit."

Jemma Grist, Reviewer

AvaTrade Quick Facts

FTSE Spread0.5
GBPUSD Spread1.5
Stocks Spread0.13
Leverage1:30 (Retail) 1:400 (Pro)
RegulatorASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM
PlatformsWebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
Account CurrenciesUSD, EUR, GBP, CAD, AUD

Pros

  • AvaTrade is a heavily regulated and trustworthy broker with licenses from the ASIC, CySEC and more
  • Automated trading is supported through MetaTrader Expert Advisors (EAs), as well as the AvaSocial and DupliTrade tools
  • The broker offers reliable 24/5 multilingual customer support with fast response times during testing

Cons

  • A high $2000 minimum investment is required to use DupliTrade, which will be out of reach for many beginners
  • Traders from the US are not accepted
  • It’s a shame that there are no rebate schemes for serious traders looking for additional perks - CMC Markets would be a better choice here

XTB

"XTB stands out as a top choice for new day traders with the terrific xStation platform, commission-free pricing, no minimum deposit, and excellent educational tools, many of which are seamlessly integrated into the platform. "

Christian Harris, Reviewer

XTB Quick Facts

FTSE Spread1.8
GBPUSD Spread1.4
Stocks Spread0.2%
Leverage1:30
RegulatorFCA, CySEC, KNF, CNMV, DFSA, FSC
PlatformsxStation
Account CurrenciesUSD, EUR, GBP, HUF

Pros

  • First-class 24/5 customer support is available, including a friendly live chat with response times of under two minutes during testing.
  • XTB offers fast withdrawals with same-day payments if requested before 1 pm, ensuring day traders have quick access to their funds.
  • The xStation platform continues to impress with its user-friendly interface and intuitive features, including customizable news feeds, sentiment heatmaps, and trader calculator, reducing the learning curve for newer traders.

Cons

  • XTB does not offer a raw spread account, which is becoming increasingly common among competitors like Pepperstone, and may disappoint day traders looking for the tightest spreads.
  • XTB discontinued support for MT4, limiting traders to its proprietary platform, xStation, potentially deterring advanced day traders familiar with the MetaTrader suite.
  • The research tools at XTB are good but could be great if they went beyond in-house features with access to leading third-party tools such as Autochartist, Trading Central and TipRanks.

CMC Markets

"With advanced charting tools and an extensive range of tradable CFDs, including an almost unrivalled selection of currencies and custom indices, CMC Markets provides a fantastic online platform for traders of all levels. "

Christian Harris, Reviewer

CMC Markets Quick Facts

FTSE Spread1 pt
GBPUSD Spread0.9
Stocks Spread0.02
Leverage1:30 (Retail), 1:500 (Pro)
RegulatorFCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA
PlatformsWeb, MT4
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, SEK, NOK, SGD, PLN

Pros

  • The brokerage continues to stand out with its wide range of value-add resources, including pattern recognition scanners, webinars, tutorials, news feeds, and research from respected sources like Morningstar.
  • CMC Markets is heavily regulated by reputable financial authorities and maintains its stellar reputation, helping to ensure a secure and trustworthy trading environment.
  • CMC offers excellent pricing, including tight spreads and low trading fees for all but stock CFDs. The Alpha and Price+ schemes also offer perks for active traders with up to 40% discounts on spreads.

Cons

  • The CMC Markets app offers the complete trading package but the design and user experience trails category leaders like eToro.
  • An inactivity fee of $10 per month is applied after 12 months of inactivity, which may deter casual investors.
  • While CMC offers an above-average suite of assets, there is no support for trading real stocks and UK clients can’t trade cryptocurrencies.

Eightcap

"Eightcap delivers in every area for day traders with a growing selection of charting platforms and AI-powered tools. Now sporting 250+ crypto CFDs and the Crypto Crusher market scanner, it's also become a stand-out choice for crypto trading, winning our 'Best Crypto Broker' award two years in a row."

Christian Harris, Reviewer

Eightcap Quick Facts

FTSE Spread1.2
GBPUSD Spread0.1
Stocks Spread0.03 (Apple Inc)
Leverage1:30
RegulatorASIC, FCA, CySEC, SCB, CNMV
PlatformsMT4, MT5, TradingView
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, SGD

Pros

  • Having excelled across all key areas for day traders, Eightcap outperformed more than 490 competitors to win our 'Best Overall Broker' award for 2024, also securing our 'Best Crypto Broker' title.
  • Eightcap stands out with a selection of powerful trading tools, including MT4 and MT5, the innovative algorithmic trading platform Capitalise.ai, and more recently the 50-million strong social trading network TradingView.
  • After bolstering its roster in 2021, Eightcap offers one of the most extensive selections of cryptocurrency CFDs in the market, with crypto/fiat pairs, crypto/crypto pairs, plus crypto indices for broader exposure to the market.

Cons

  • Eightcap needs to continue bolstering its suite of instruments to match category leaders like Blackbull Markets with its 26,000+ assets, featuring a particularly weak selection of commodities.
  • In spite of an increasing variety of tools, Eightcap doesn't offer industry favorites like Autochartist or Trading Central, which offer cutting-edge charting analytics, live news, and market insights for short-term traders.
  • The demo account expires after 30 days and can only be extended upon request - a notable inconvenience compared to the likes of XM with its unlimited demo mode.

FXCC

"FXCC continues to prove itself an excellent option for forex day traders with an extensive range of 70+ currency pairs, ultra-tight spreads from 0.0 pips during testing, and high leverage up to 1:500 in the ECN XL account. "

Jemma Grist, Reviewer

FXCC Quick Facts

FTSE SpreadVariable
GBPUSD Spread1.0
Stocks SpreadNA
Leverage1:500
RegulatorCySEC
PlatformsMT4
Account CurrenciesUSD, EUR, GBP

Pros

  • FXCC is trusted and licensed by the CySEC, a top-tier European regulator offering high standards of safeguarding
  • As an MT4 broker, FXCC offers advanced charting tools and excellent support for algo traders, especially when combined with the free VPS
  • The free education section, including the 'Traders Corner' blog, offers a large selection of materials that will serve all experience levels

Cons

  • While the range of currency pairs exceeds most alternatives, the selection of additional assets is narrow, and notably, there are no stocks
  • FXCC’s single platform offering is a major drawback compared to many alternatives, notably AvaTrade which provides 5 platforms to suit different trader preferences
  • There is a threadbare selection of research tools like Trading Central and Autochartist, value-add features available at category leaders like IG

Spreadex

"Spreadex will appeal to UK day traders who are interested in both spread betting on financial markets and placing traditional bets on sports events. Fees are low on short trades and profits are tax-free on spread bets. There's also a powerful proprietary charting platform, plus £0 minimum deposit required to get started. "

Tobias Robinson, Reviewer

Spreadex Quick Facts

FTSE Spread1.0
GBPUSD Spread0.9
Stocks Spread0.15%
Leverage1:30
RegulatorFCA
PlatformsSpreadex Platform, TradingView
Account CurrenciesUSD, EUR, GBP, CAD, CHF

Pros

  • Traders have the opportunity to bet on sports events from their brokerage account
  • A rare broker that provides access to lower market cap stocks traded on the AIM
  • There's an excellent range of instruments and trading vehicles for short-term traders

Cons

  • There's no support for expert advisors or other trading bots
  • No third-party e-wallets are accepted
  • The proprietary terminal lacks comprehensive charting features of platforms like MT4 and MT5

IC Markets

"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."

Christian Harris, Reviewer

IC Markets Quick Facts

FTSE Spread1.0
GBPUSD Spread0.23
Stocks Spread0.02
Leverage1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
RegulatorASIC, CySEC, FSA, CMA
PlatformsMT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD

Pros

  • You have access to over 2,250 CFDs across various markets, including forex, commodities, indices, stocks, bonds, and cryptocurrencies, allowing for diversified trading strategies.
  • IC Markets offers among the tightest spreads in the industry, with 0.0-pip spreads on major currency pairs, making it especially cost-effective for day traders.
  • IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.

Cons

  • The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners.
  • Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind.
  • There are fees for certain withdrawal methods, including a $20 wire charge, which can eat into profits, especially for frequent withdrawals.

Pepperstone

"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."

Christian Harris, Reviewer

Pepperstone Quick Facts

FTSE Spread1.0
GBPUSD Spread0.4
Stocks Spread0.02
Leverage1:30 (Retail), 1:500 (Pro)
RegulatorFCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
PlatformsMT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD

Pros

  • Pepperstone emerges as a low-cost broker, especially for serious day traders with spreads from 0.0 in the Razor account and rebates of 25%+ through the Active Trader program.
  • Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing.
  • Now offering spread betting through TradingView, Pepperstone provides a seamless, tax-efficient trading experience with advanced analysis tools.

Cons

  • Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets.
  • Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies.
  • Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers such as eToro, with no option to invest in real coins.

Interactive Brokers

"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."

Christian Harris, Reviewer

Interactive Brokers Quick Facts

FTSE Spread0.005% (£1 Min)
GBPUSD Spread0.08-0.20 bps x trade value
Stocks Spread0.003
Leverage1:50
RegulatorFCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA
PlatformsTrader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
Account CurrenciesUSD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF

Pros

  • There's a vast library of free or paid third-party research subscriptions catering to all types of traders, plus you can enjoy commission reimbursements from IBKR if you subscribe to Toggle AI.
  • IBKR continues to deliver unmatched access to global stocks with tens of thousands of equities available from 100+ market centres in 24 countries.
  • The new IBKR Desktop platform takes the best of TWS while adding bespoke tools like Option Lattice and Screeners with MultiSort to create a genuinely impressive trading experience for day traders at every level.

Cons

  • IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.
  • Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.
  • You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.

XM

"XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading."

William Berg, Reviewer

XM Quick Facts

FTSE Spread1.5 pts
GBPUSD Spread1.9
Stocks Spread0.002
Leverage1:30
RegulatorASIC, CySEC, DFSA, FSC, FSCA, CNMV, AMF
PlatformsMT4, MT5
Account CurrenciesUSD, EUR, GBP, AUD, JPY, ZAR, CHF, SGD, PLN, HUF

Pros

  • XM continues to deliver diverse and multilingual educational materials and offers a useful live education schedule for its webinars and insights
  • 1000+ instruments are available, including recently added thematic indices, providing exposure to emerging industries
  • Transparent and low fees with spreads from 0.0 pips that will help protect day trading profit margins

Cons

  • There is weak regulatory oversight through the global entity
  • There's $5 inactivity fee after only 3 months, though this won't affect active traders
  • PayPal deposits are not supported

What Is A CFD Broker?

CFD Trading is a very popular way to speculate on price movements of assets, like stocks. A Contract for Difference is an agreement between an investor and a CFD broker to pay the difference between the opening price and closing price of a certain asset, such as a UK stock. Crucially, traders do not own the underlying asset.

Let’s look at an example: You want to open a position on 10 shares with an asking price of £100 each. To own these underlying shares, the cost to an investor would be £1,000. However, with most CFD brokers in the UK, the cost to open a leveraged position is usually between 5% and 20% of the ask price – giving traders exposure to the full value of the asset without putting up the total amount or taking ownership of the shares.

Top CFD brokers in UK

CFD brokers in the UK are particularly popular with day traders offering low costs and straightforward access to major financial markets. With that said, CFDs can also be used by longer-term investors though it’s important to use risk management techniques, such as stop losses.

How UK CFD Brokers Work

CFD brokers in the UK offer a platform where clients can choose from a list of assets, analyse the markets, and take positions. A series of instant and pending orders are usually offered alongside a suite of charts, drawing tools and other analysis features.

Most CFD brokers offer in the UK offer trading on currency pairs with the GBP, equities listed on the FTSE, plus precious metals and energies. Note, the FCA has banned CFD brokers in the UK from offering derivatives on cryptocurrencies like Bitcoin. As a result, traders from the UK will need to turn to offshore, unregulated platforms to find these instruments.

How To Compare CFD Brokers In The UK

Important areas to consider when choosing CFD brokers in the UK include:

Fees

Your chosen asset will need to increase in value by the spread amount for you to break even. In the UK, spreads on popular FX pairs such as the GBP/USD and GBP/EUR are generally between 1-2 pips. Users should also be aware of other charges such as overnight holding fees, withdrawal fees and commissions.

The best CFD brokers in the UK will charge zero sign-up fees, but there will typically be a minimum deposit requirement – which can be as little as £10 or even £0.

Leverage

Another reason CFD trading is popular in the UK is the access to leverage. Leverage is a temporary loan given to the trader by the broker which offers exposure to greater gains, but also higher losses.

Leverage is limited by the FCA (Financial Conduct Authority) to between 1:2 and 1:30. With some CFD brokers in the UK, once you have qualified for a professional account, you can access leverage up to 1:500.

Markets

CFD brokers in the UK offer access to different markets. Most platforms offer forex pairs, equities and indices, however, the range of each will vary. For example, the top providers will offer a long list of minor and exotic pairs. The best CFD brokers in the UK will also offer access to both the FTSE 100 and sometimes the FTSE 250.

Be wary of platforms offering CFDs on cryptos as these are banned in the UK and may be an indication that the brokerage isn’t licensed.

UK Regulation

The financial regulatory body in the UK is the Financial Conduct Authority (FCA). When choosing CFD brokers in the UK, be sure to opt for one that is fully compliant with FCA regulations.

The FCA protects retail investors with measures such as the separation of investor’s money from the broker’s capital and access to the Financial Ombudsman Service and the Financial Services Compensation Scheme.

FCA

Bonuses

Some CFD brokers in the UK offer rewards such as deposit bonuses and promo codes for new users. Be wary of gimmicks designed to lure in new investors. The FCA has also clamped down on misleading promotions so finding platforms with generous offers is getting harder.

Accounts

Most CFD brokers in the UK offer a variety of live accounts. Traders that can prove their experience or have a certain amount of capital can open more competitive accounts with tighter spreads, higher leverage ratios and additional analysis tools. The top CFD brokers in the UK may also offer dedicated account managers for those with a professional investing account.

Platforms

CFD brokers in the UK typically offer a choice of platforms, with the most popular options including MetaTrader 4, MetaTrader 5, and cTrader.

Finding an intuitive and user-friendly platform will make speculating on the markets an enjoyable experience. Depending on the frequency and style of your trading, different platforms will also suit your needs better. Compare features such as signals, charts and automated trading options before deciding which platform is best for you.

Mobile Apps

One of the easiest ways to keep your eyes on the markets at crucial times is by using a mobile app. Many CFD brokers in the UK have designed their own applications which give traders the same functionality as traditional desktop platforms in the palm of their hand. These apps are typically available for Android from the Google Play Store and for Apple devices from the App Store. Alternatively, MT4 and MT5 mobile apps are offered alongside proprietary software.

Online CFD brokers in UK

Tools

Many CFD brokers in the UK offer an extensive range of tutorials, seminars and workshops aimed at improving your investing skills and market knowledge. For beginners, in particular, these are worth looking out for when choosing between providers.

Customer Support

It’s important to find CFD brokers in the UK with reliable customer support. Platforms with 24/5 live chat and responsive telephone support will help you resolve technical issues or withdrawal problems promptly. It’s worth checking user reviews for ratings on the quality of customer support before signing up.

Deposits & Withdrawals

Most CFD brokers in the UK allow traders to pay fees and deposit using a range of payment options. Typical options include credit/debit card, bank transfer, PayPal and e-wallets such as Skrill. When deciding which broker is best suited to your needs, decide first how you intend to pay and make a comparison with this in mind.

Final Word On UK CFD Brokers

CFD brokers in the UK offer a range of options in terms of fees, market access, leverage and more. There is a lot of competition, so ensure you take the time to make a thorough comparison of the platforms available and decide which is best for you. Also note that many CFD brokers in the UK offer demo accounts, which are a great way for beginners to get to grips with the services on offer before committing capital.

FAQs

What Is The Best CFD Broker In UK?

When comparing the best CFD brokers in the UK, you should consider fees and deposits, leverage, tradable assets, regulatory status, accounts, and tools. Check out our list of the top CFD brokers in the UK in 2024 for our recommendations.

What Are The Advantages Of CFD Brokers In The UK?

For traders in the UK, a brokerage based or licensed to operate in the United Kingdom can offer straightforward access to British stocks and indices, plus currency pairs with the GBP. Investors will also be able to open GBP accounts and pay fees in their local currency.

Can I Trade Cryptos With CFD Broker In The UK?

The FCA has banned UK retail investors from trading cryptocurrencies through derivatives like CFDs. You’ll only be able to trade CFDs on cryptocurrencies if you’re classed as a professional trader or if you open an account with an unregulated, offshore broker.

Do I Pay Taxes Trading With CFD Brokers In The UK?

Any profits from CFD trading in the UK may be subject to capital gains tax if they exceed £12,500. It could be worth speaking to a professional tax advisor before you open a live account.

Is Investing With UK CFD Brokers Safe?

Investing in CFDs is a risky business. Traders can accumulate large losses, especially when using leverage. As a result, it’s important to sign up with a good UK CFD broker that is regulated by the FCA and offer risk management tools.