CFD trading is legal and regulated in the UK by the Financial Conduct Authority (FCA). It offers traders the opportunity to speculate on the price movements of various financial instruments without owning the underlying assets. When I ventured into CFD trading, selecting a reliable platform was crucial to my success. The UK market boasts several reputable CFD brokers, each with unique features and offerings.
As a professional researcher and trader, my goal is to ensure you are supplied with the proper information to get started. For this reason, I have prepared this guide highlighting the best UK CFD brokers. Here, you will also learn additional tips for successful trading strategies, and more.
List of the Best CFD Brokers
After conducting multiple tests and comparisons, here are my top 7 platforms for CFD trading.
- Pepperstone – CFD Trading on 4 Different Platforms
- eToro – Beginner-Friendly
- Axi* – Best CFD Broker for Forex Traders
- Spreadex – Top Option With No Minimum Deposit Requirement
- Plus500** – Easy And Fast Demo Account Opening
- FxPro – Best For Professional Traders
- OANDA Europe LTD*** – Best Option for Mobile Trading
*CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
**80% of CFD retail accounts lose money on Plus500
***76.6% of retail investor accounts lose money when trading CFDs with OANDA provider
In this guide
Best CFD Brokers in the UK
Platforms Reviews
I have worked with numerous reputable financial institutions in the UK. My input in various firms has been fruitful, leading to over 20% increased revenue. With my expertise, I can confidently tell you that navigating the CFD trading landscape is simplified with the right decisions. Besides becoming familiar with CFD trades and the tax implications, find a credible and reliable broker.
I have shared below the mini reviews of the top CFD brokers I find worth exploring. Note that I do not favour any entity and the features below are based on my personal findings after conducting multiple tests and comparisons.
1. Pepperstone – CFD Trading on 4 Different Platforms
Many brokers are best for CFD trading, but Pepperstone tops my list when it comes to offering multiple platforms. From my analysis, this Australian-based broker has been operating in the UK for many years. It offers a varied selection of CFDs on stocks, commodities, cryptocurrencies, ETFs, and even currency indices.
Pepperstone provides its customers with three of the most popular CFD trading platforms on the market. Namely, TradingView, Metatrader 4, Metatrader 5 and cTrader. Since MetaTrader 4 is mainly for forex trading, I suggest that you opt for either MT5 or cTrader when trading other CFD instruments.
Another feature that impressed me about Pepperstone is its impressive educational platform. As a beginner, you will use it to learn all the ins and outs of CFD trading before investing real money. And if you ever grow tired of CFDs or want to start trading tax-free, you can open a spread betting account and access the same markets but with even more benefits.
✔ No dealing desk intervention
- A user-friendly and modern design platform
- Choose between MT5, cTrader for CFD trading, MT4 for forex trading or TradingView for CFD and spread betting
- Lists over 2,400 CFD instruments to explore
- No minimum deposit requirement for UK clients
- No buying and taking full ownership of the underlying assets
- CFD cryptocurrency trading is only reserved for professional clients
| Type | Fee |
| Minimum Deposit | $0 |
| Withdrawal fee | $0 |
| Deposit fee | $0 |
| Inactivity fee | No |
| Account fee | No |
2. eToro – Beginner-Friendly
I find eToro to be the best CFD broker for new CFD traders in the UK because of its user-friendly and modern platform. Plus, it has many CFD assets to trade with, which makes it easier for beginners to try various options before settling for their favourite. These include stock, forex, ETFs, indices, commodities, and bonds. The best part is that share trades are commission-free, and you can also buy any listed stocks and take full ownership.
Another factor I find worth mentioning is eToro’s social and copy trading feature. The social feature allows you to interact with other CFD investors through a chat group. You can also use the copy feature to copy trades from the experts, giving you a better chance of making profits.
Overall, eToro is regulated by tier-one authorities, including the Financial Conduct Authority (FCA). Its account opening procedure is straightforward and would take you a few minutes to complete. When it comes to minimum deposit requirements, eToro has £50, which you can pay using debit cards, bank transfers, or e-wallets. It also has a £5 withdrawal fee and inactivity charges of £10 a month that kick off after 12 months of inactivity. Ultimately, eToro is the best CFD broker for beginners.
✔Low minimum to fund an account and begin investing
- Fully digital trading platform supported on all devices
- Social and Copy feature
- Straightforward account opening procedure
- 0% commission on stocks with competitive spread
- Limited educational and research tools
- $5 withdrawal fees
| Types | Fee |
| Minimum Deposit | $100 |
| Conversion Fee | depends on your payment method, currency, and eToro Club level. |
| Overnight Fee | vary according to the value and direction (BUY or SELL) of your position |
| Withdrawal Fee | all withdrawal requests are subject to a $5 USD fee |
| Inactivity Fee | monthly inactivity fee of $10 USD (charged after 12 months) |
3. Axi – Best CFD Broker for Forex Traders
The first thing we noticed while trading with Axi is its reasonable variety of CFDs. It might not be as expansive as its peers, but there are more than enough assets to help you with your trading and diversification needs. Available options range from CFDs on UK, US, and European stocks to index and commodity CFDs.
Axi’s saving grace is the broker’s forex collection. At 70+, this platform has an excellent number of forex pairs. After signing up, we had ample opportunity to trade some of the most popular FX products today, including GBP/USD and other majors, GBP/EUR and other minors, as well as USD/TRY and other exotic pairs.
Expect to enjoy tight spreads and commissions while trading CFDs and forex pairs with Axi. That is more so if you have a Pro account, whose spreads go as low as 0 pips*. The other noteworthy aspect is that this broker has not set a minimum deposit requirement; you can top up your account with £5 after signing up and dive into the world of online trading.
*Commission charges apply.
✔Fully regulated and authorized
- CFD traders can trade over 70 currency pairs
- Tight spreads from 0 pips* on Pro accounts
- New users can deposit as little as £5
- Simple, user-friendly interface
- Traders have access to MT4
- £10 monthly inactivity fee
- Has around 140 financial products only
| Type | Fee |
| Minimum deposit | £5 |
| Overnight fee | Yes |
| Deposit fee | 3% |
| Withdrawal fee | $0 |
| Inactivity fee | $10 |
*Commission charges apply.
4. Spreadex – Top Option With No Minimum Deposit Requirement
Having thoroughly explored over 25 CFD platforms, Spreadex stands out for its no minimum deposit requirement. I believe this gives users the flexibility to start trading with any amounts they can afford. I was also impressed with its intuitive TradingView platform, which offers vital tools for efficient market analysis and trade execution.
While many CFD brokers charge high spreads, Spreadex charges are highly competitive, starting from 0.6 pips. Moreover, there are no transaction or inactivity fees when trading CFDs with this broker. These are elements that make it among the most affordable, especially for cost-conscious traders. The broker’s FCA regulation ensures a secure trading environment, instilling confidence. Getting started with Spreadex is pretty straightforward, and you get to explore over 10,000 securities, including forex, shares, commodities, indices, bonds, ETFs, and more.
✔Helpful customer service
- A beginner-friendly CFD broker with no minimum deposit requirement
- Low trading fee
- Lists +10,000 CFD assets to explore and diversify your portfolio with
- A user-friendly and customisable CFD trading platform
- Limited research and learning resources compared to its peers
- No demo account
| Type | Fee |
| Minimum deposit | Free |
| Overnight fee | Yes |
| Deposit fee | Free |
| Withdrawal fee | Free |
| Inactivity fee | Free |
5. Plus500 – Easy And Fast Demo Account Opening
Plus500 is an Israeli-based CFD broker that I find worth recommending to newbies looking for a reliable and easy-to-navigate demo account. It is one of the safest CFD brokers with an FCA license. Moreover, opening an account on this broker is straightforward and quick. The demo account gives you access to over 2,000 CFD instruments, including forex, stocks, commodities, and more.
One thing I like about Plus500 is its zero commission trades. During my experience, I only incurred low spreads, starting from 0.0 pips. Plus, there are no transaction charges, regardless of the payment method you use to make deposits and withdrawals. Some of the transaction methods I discovered at Plus500 include debit/credit cards, bank transfers, and e-wallets.
Besides having low trading and non-trading fees, this broker has a low minimum deposit requirement of £100. Additionally, it charges a fee for overnight funding, a currency conversion fee, a guaranteed stop order, and an inactivity fee. I like that it is supported on all devices, and users can monitor their trades anywhere, anytime. However, the research and educational materials on Plus500 are limited, thereby providing you with few options to improve your trading skills.
Before you start investing in Plus500, you need to know the risks involved in CFD trading. Only trade with funds you are comfortable losing, as losses are inevitable. Also, you can easily install its CFD trading app on your mobile device.
✔ Regulated in many countries
- 0% commission on trades with tight spreads
- Easy-to-use trading platform
- Variety of tradable instruments
- Low minimum deposit requirement of £100 for UK clients
- Limited educational and research tools
- There is no buying and taking full ownership of the underlying assets
| Type | Fee |
| Overnight Funding | yes |
| Currency Conversion Fee | 0.7% |
| Guaranteed Stop Order | spread applies |
| Inactivity Fee | $10 per month |
| Withdrawls/Deposits | $0 |
Note: 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
6. FxPro – Best For Professional Traders
My extensive research on the best CFD brokers in the UK positions FxPro as the best for professional traders. The platform lists over 2,100 CFD instruments, including forex, shares, indices, commodities, and more, which enabled me to construct well-rounded portfolios aligned with my strategies. The integration of cryptocurrencies for professional traders provides a forward-thinking touch, aligning with the evolving market trends.
Based on my observations, professional traders will enjoy leverage application of up to 1:500 on CFD trades. Its support for advanced platforms like cTrader, MT4, and MT5 caters to various user preferences for sophisticated tools and algorithmic trading capabilities. And when it comes to customer support, FxPro’s team is one of the best, offering prompt responses and relevant solutions to all arising challenges and concerns.
✔ Trustworthy broker
- Professional traders gain access to cryptocurrencies
- High leverage options up to 1:500
- Support for cTrader, MT4, and MT5 caters to the preferences of professional traders.
- Transparent fee structure
- Cryptocurrency trading is available to professional traders only, potentially excluding retail traders interested in this asset class
- Limited asset offerings compared to its peers
| Type | Fee |
| Minimum deposit | $100 |
| Withdrawal fee | $0 |
| Inactivity fee | $15 once + $5 monthly |
7. OANDA Europe LTD – Best Option for Mobile Trading
When looking for the best CFD broker that allows you to manage your investments on the go, OANDA Europe LTD should be worth considering. From my analysis, the broker’s trading app has excellent ratings on Google Play and the App Store. Many users find it to be one of the most reliable and secure trading apps. It hosts thousands of CFD instruments across various classes, including forex, commodities, indices, and more. Keep in mind that trading CFDs with OANDA Europe LTD attracts low trading fees, with spreads starting from 0.8 pips.
OANDA Europe LTD has come a long way and has so far established itself as a trustworthy and dependable broker in the industry. With a variety of trading tools, educational resources, and a user-friendly interface, OANDA Europe LTD is an excellent choice for both novice and experienced CFD traders. You can download the app from Google Play or the App Store to enjoy your CFD activities on the go.
✔ Fast and user-friendly account opening
- No minimum deposit requirement
- Thousands of CFD instruments across various classes to explore
- One of the most trusted trading apps for mobile users
- Highly secured and regulated by the FCA
- OANDA is a CFD broker, meaning you cannot use it to buy and take ownership of the featured assets
- Leverage limit for professional traders is low
| Type | Fee |
| Minimum deposit | $0 |
| Overnight fee | Yes |
| Deposit fee | $0 |
| Withdrawal fee | $0 to your PayPal account* |
| Inactivity fee | Yes |
*We do not charge a fee for withdrawals made to your PayPal account. If your PayPal account is denominated in a currency other than GBP, EUR or USD, you may incur an exchange fee levied by PayPal.
Read about ETF brokers UK in our other guide.
Compare Brokers Table
To streamline your decision-making process, I have compiled an impartial comparison table below highlighting the essential features of my top recommended CFD brokers in the UK. My goal is to provide you with the necessary insights to customise your selection based on your specific trading needs. Take a look and find the perfect fit for your CFD trading journey.
| Best CFD Broker | Licence | Support Service | Software | Payment | Demo Account | Money Insurance (Negative money protection) |
|---|---|---|---|---|---|---|
| Pepperstone | FCA, ASIC, DFSA, CySEC, BaFin, SCB, CMA | 24/7 | MetaTrader 4, MetaTrader 5, cTrader, TradingView | Credit cards, Bank transfer, PayPal | Yes | Yes (up to £85,000) |
| eToro | ASIC, CySEC, FCA, FSAS | 24/5 | eToro investing platform, Multi-asset platform, Copy Trader | Debit cards, Bank transfer, Neteller, Skrill, eToro Money, Online Banking | Yes | Yes (up to $250,000) |
| Axi | FCA, ASIC, CySEC | 24/7 | MT4 | Credit/debit cards, PayPal, International bank transfer, Domestic bank transfer | Yes | Yes (up to £85,000) under the Financial Services Compensation Scheme |
| Spreadex | FCA, SEBI | 24/5 | IPHONE App, IPAD App, ANDROID App, TradingView | Bank Wire Transfer, Credit cards | No | Yes (up to £85,000) |
| Plus500 | FCA, CySEC, ASIC, MAS, FSA | 24/7 | Plus500 Webtrader | Bank Wire Transfer, Credit/debit cards, Paypal, Skrill | Yes | Yes (up to £85,000) |
| FxPro | SEBI, FCA, CySEC, FSCA, SCB, FSCM | 24/5 | FXPro Trading Platform, MetaTrader 4, MetaTrader 5, cTrader | Wire transfers, Credit/debit cards, PayPal, Neteller, Skrill | Yes | Yes (up to £85,000) |
| OANDA Europe LTD | FCA, CySEC, FSA | 24/5 | MT4, OANDA Trade | Credit/debit cards and Bank transfer | Yes | Yes (up to £85,000) |
When dealing with CFDs, it’s vital to comprehend that employing leverage can amplify your potential losses significantly. As a trader, a profound understanding of the associated risks is paramount. Note that between 70-80% of retail investors lose money with leveraged products — a clear indication that CFD trading may not be suitable for every investor.
To mitigate the risks associated with CFD leveraged products, always assess your risk tolerance and level of trading experience before venturing into this market. Moreover, be mindful of the UK’s regulatory framework, which imposes a 1:30 leverage cap on CFDs. This limitation aims to mitigate risk but can still result in substantial losses in the event of an unexpected downturn.
How to Choose a CFD Trading Platform
CFD trading in the UK holds the promise of high profitability, but it’s also a high-risk investment venture. According to a recent FCA report, between 51% and 80% of UK investors lose money when trading CFDs because of the risks. This calls for a strategic approach when venturing into CFD instruments. It all starts with choosing the right broker.
If you are new to this landscape, consider the elements below. They are the significant elements I prioritise when identifying a platform that aligns with my requirements.
Security is non-negotiable. I only trade with brokers regulated by the Financial Conduct Authority (FCA) because this guarantees they follow strict rules to protect traders. An FCA-regulated broker must keep client funds in segregated accounts, ensuring that even if the company goes bankrupt, traders’ money remains safe. Also check whether the broker is highly encrypted and uses additional security measures like biometric, strong passwords, and more.
A platform can make or break your trading experience. I always look for a user-friendly and intuitive interface that offers advanced charting tools, risk management features, and real-time market data. Having a seamless mobile app is also a plus since I like to monitor trades on the go. Many platforms offer demo accounts, which I strongly recommend testing before committing real money. This gives you a feel for order execution speeds, platform stability, and the range of tools available. If a broker’s platform is slow, clunky, or lacks essential features like stop-loss orders and technical indicators, I seek other alternatives.
CFD brokers act as intermediaries between traders and the financial markets.
Pay close attention to the trading fees charged by the best CFD broker UK. This includes spreads, commissions, overnight financing fees, minimum deposit requirements, and more. I always compare the fee structures of different brokers to ensure that I am getting competitive pricing and value for my money.
Consider the range of market instruments offered by the broker for CFD trading in the UK. I believe that a broker that provides a diverse selection of assets, including stocks, indices, currencies, commodities, cryptocurrencies, and more, is worth my time. Having access to a wide range of instruments allows you to easily diversify your trading portfolio and take advantage of various market opportunities.
Reliable customer support is essential, especially for beginner traders who may encounter issues or have questions along the way. In this regard, choose the best CFD trading platform that offers responsive and knowledgeable customer support services via multiple channels, such as phone, email, and live chat. Plus, ensure its availability aligns with your trading schedule, whether it’s 24/7 or five days a week.
Check the available payment methods supported by a broker for deposits and withdrawals. Ensure that the broker offers convenient and secure payment options that suit your preferences and needs. The last thing you want is to find a CFD broker with sluggish transactions, thus affecting your trades’ performance.
Lastly, consider user recommendations and reviews on Google Play, the App Store, and Trustpilot when selecting a CFD broker in the UK. See what other traders say regarding their experiences with the broker’s services, reliability, and overall satisfaction. This way, you can fully understand a broker’s strengths and weaknesses and make the best decisions suitable for your trading requirements.
Read about the Metatrader 4 brokers in the UK in our other guide.
Conclusion
CFD trading presents both opportunities and risks, and it’s crucial to approach it with a clear plan and the right mindset. The fast-paced nature of the market can be tempting, but trading without a strategy or the best broker can lead to significant losses.
Feel free to select a trading platform from my recommendations list above. Also, exercise patience and remain disciplined while trading. Avoid chasing quick profits, manage your exposure carefully, and always have an exit plan. By making calculated moves and staying abreast with the latest market developments, you will start seeing the results of your hard work (profits).
How we test?
Our evaluation and testing process is thorough and exhaustive. First, we conduct extensive research. Our experts visit each broker’s official site and assess every offering. Then, we go to credible review sites like Trustpilot, Google Play, and the App Store and read user testimonials and feedback. After research, our experts proceed to the next step: testing.
The testing phase is critical in determining if brokers deliver as promised. We used demo and live accounts to vet available trading platforms, tools, and other resources. While doing so, our experts strive to identify the most pronounced strengths and weaknesses.
Why do we do all that? It’s simple. You are a valued member of the TradingGuide family, and we are committed to doing everything in our power to ensure you have access to the best brokers. Find out more about our test process here.
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I really like the idea that IG Markets is the best for advanced users. Their app gives me the flexibility to manage my accounts and monitor my trade, even when I'm away from the computer. Very clean UI, so far so good.
Can I open several demo accounts on Plus500?
No, you can only open one demo account and one real trading account with Plus500. However, the Plus500 demo account is unlimited meaning you can trade with it as much and for as long as you want.
Whenever you run out of virtual funds to trade with, Plus500 will top the account up with more.
Personally, I make use of IG Markets and City Index.
They are trustworthy and reliable. I’ve traded with them for more than 3 years already!
I use IG Markets too this broker has been the broker of my choice for more than 8 months now
I find them reliable and transparent with their fee
Personally, I make use of the City Index. City Index has grown to be one of the world leaders in spread betting and CFD trading. I’ve traded with them for more than 3 years already, so they are reliable. I highly recommend this broker for CFD trading.
I am Beginner in CFD Trading. Need I start with eToro?
yep
It is a great broker!
I use brokerage platforms to access the financial markets and invest my portfolios to reach my long-term financial goals. Choosing a broker can be difficult due to the wide variety of choices available. I choose a full-service broker with value-added products and tools they provide to help me trade efficiently!
Discovering the world of CFD trading felt daunting, but this guide made it a breeze! It walked me through choosing a reliable broker, emphasizing safety and market variety. The explanations on CFDs were crystal clear, making the complex seem simple. I appreciate the tips on risk management, especially as a beginner. Overall, this guide is a great starting point for anyone venturing into CFD trading.Thanks to the creators for making it easier to understand and sharing useful information.
Great read! I'm definitely interested in learning more about the top CFD brokers in the UK. As a beginner trader, it's important to choose a reliable and user-friendly platform. I'll definitely be considering the options you've listed in this post.
Great post! as a reader, I appreciate the effort you put into curating this list of the best CFD brokers and trading platforms in the UK. It's essential to have reliable and trustworthy brokers when engaging in CFD trading, and your list provides valuable insights for those looking for the best. I'm glad to see eToro made it to the list, as I've heard great things about their platform and the social trading feature. I'll definitely consider them for my CFD trading needs. Thanks for sharing!
Great compilation of CFD brokers and trading platforms! I've been searching for the perfect one to trade cryptocurrencies and this list has been really helpful. Thanks for the comparison and features breakdown, it's really informational. I'm considering signing up with Interactive Brokers.
I've been using a few of these brokers, and based on my experience, Pepperstone stands out with its low spreads and solid platform options like MT5 and cTrader. It’s been reliable and user-friendly for me
Great insights! I appreciate the detailed comparison of the top CFD brokers. It really helps in making an informed decision. I'm particularly interested in the user experience mentioned for each platform. Looking forward to trying out some of these options!