Futures trading has taken the UK financial market by storm. Many futures brokers are entering the market, whereas traders are also trying their luck investing. It’s easy to find a futures broker from the pool of firms in the UK. However, did you know that finding a suitable one can be an uphill climb?
This guide lists the best futures trading brokers in the UK. It also explains what a futures contract is in case you are new to trading this asset. So, let’s get down to it.
In this guide
Top 6 Best Futures Trading Brokers in the UK 2021
- 1. Interactive Brokers – Overall Best Futures Trading Broker in the UK
- 2. Oanda – Futures Trading Broker with the Low Minimum Deposit
- 3. eToro – Best Futures Trading Broker for Beginners
- 4. Plus500 – Best Futures Trading Broker for Mobile Trading
- 5. CMC Markets – Best Futures Trading Broker with the Lowest Fees
- 6. Plus500 – Best Futures Trading Broker with 24/7 Customer Support
How we test?
Our test process is really based on two different aspects: our independent tests and research, as well as user reviews from Google Play, the App Store, and Trustpilot, etc.
The first thing we do when testing is to check every detail and test every tool and instrument. Our experts spend more than 200 hours on every article. We pay special attention to the specific function or the criteria that we’re comparing during the comparing stage. This means that we must determine which broker is more suited for beginners, and which is better suited for experts, for example. Find out more about our test process here.
Compare Best Futures Trading Brokers in the UK
Conducting research on a pool of futures trading brokers is not easy. First, our team of experts test and review them for hours, comparing their offerings while selecting the ones that meet our requirements. We then base our findings on various metrics, including license and regulations, futures trading charges, futures trading platforms, payment modes, and customer service.
Great research cannot be completed without reviewing clients’ honest comments on Google Play, App Store, and Trustpilot. We sample over 160k reviews and combine the ratings with our research findings. Check our rating sample below.
1. Interactive Brokers - Overall Best Futures Trading Broker in the UK
Interactive Brokers has a powerful futures trading platform for all traders. The futures platform works seamlessly on the web, desktop, and mobile devices, giving you the flexibility of keeping track of your trades while on the move.
Various futures asset classes are traded on this broker’s platform, including currencies, commodities, cryptocurrencies, and indices. All these assets can be accessed in over 30 futures market centres globally.
Ultimately, Interactive Brokers offer supporting research and learning tools to assist you along the way. Also, the commissions you will incur are low, which makes a broker suitable for beginners and active traders.
- Plenty of futures trading learning and research materials.
- Low trading costs.
- Intuitive design trading platforms.
- Inactivity fee charged on IBKR Pro account.
2. Oanda - Futures Trading Broker with the Low Minimum Deposit
Oanda offers one of the most intuitive designed platforms for futures trading. Although you can trade futures on commodities and indices, trading forex gives you a diverse currency offering to diversify your futures trading portfolio.
Getting started on Oanda is straightforward. Opening a trading account is seamless and fast. In addition, there is no minimum deposit requirement to kickstart your investment. For this reason, with as little as £50, you can try your luck with futures trading.
Note that Oanda does not have a proprietary futures trading platform. Instead, all trading activities are conducted on its MetaTrader 4 platform, which has advanced trading tools to advance your futures trading skills.
- Low trading costs.
- Customisable and intuitive design trading platforms.
- Plethora of research tools.
- Limited asset offerings.
3. eToro - Best Futures Trading Broker for Beginners
eToro is a go-to futures trading broker to consider if you are a newbie. It has a unique trading platform that is easy to use and has a modern design. Futures trading on this broker is available using thousands of assets.
eToro engages its traders by providing the best social trading platform. You do not need to feel lonely and rely on its customer service only. Instead, the futures broker allows you to socialise with other traders that you choose to follow. You can also copy the trades that you think have a much higher potential for profits.
Our best futures trading broker for beginners has a reliable customer support service. You can reach it five days a week at any time to have all your trading issues sorted.
- Wide range of futures trading assets.
- Automated CopyTrader platform.
- Popular investor program for expert and advanced traders.
- $200 minimum deposit requirement.
4. Plus500 - Best Futures Trading Broker for Mobile Trading
Mobile trading is nowadays the new normal in every financial market. Traders want a flexible futures trading broker that, even when they can't get access to a desktop, it's still easier to open a position wherever they may be.
Plus500 is a good futures trading broker that has proven to be reliable on mobile devices. With its excellent services, the broker has earned its outstanding ratings on Google Play and App Store as the best for mobile trading.
This futures trading broker charges spread only. Therefore, do not expect any trading commissions. In addition, it has a minimum deposit requirement of £100, which we believe ranges among the lowest in the industry.
- Competitive spreads.
- £100 minimum deposit.
- Rapid trade execution.
- Single proprietary platform, which can inconvenience some expert traders.
5. CMC Markets - Best Futures Trading Broker with the Lowest Fees
CMC Markets has a wide range of futures trading assets to choose from. It helps traders with their market prices analysis by providing impeccable tools for this procedure. This futures trading broker is the best platform to increase your potential trading experience.
CMC Markets has an award-winning intuitive design platform that encourages you to trade for a more extended period. It also has a mobile application to use while on the move. Your trading experience couldn't get any better.
The costs for trading at CMC Markets are low, which attracts budget-conscious futures traders. There is also no minimum deposit required to kickstart your activities. Do not hesitate to test it on its demo account if you are unsure if it matches your needs.
- Dynamic charting tools.
- Execution control tools.
- Low futures trading fees.
- No copy trading platform.
6. Plus500 - Best Futures Trading Broker with 24/7 Customer Support
Plus500 amazes us with its reliable customer service that is available round the clock, every day. In addition, the broker is multi-regulated, which means that you can trust it with your futures trading needs.
The customer service on Plus500 is also reliable when using mobile devices. You can reach them through live chats or email. If you are an active trader, we will primarily recommend this broker for you.
Feel free to try this futures broker out. No commissions are charged, and its minimum deposit requirement is only £100. We guarantee the best futures trading experience there is.
- FCA regulated.
- Low spreads.
- Reliable 24/7 after-sale service.
- No phone call support.
What is a Futures Contract?
A futures contract is a binding agreement that obliges traders to buy and sell financial assets at a predetermined price and future date in an open exchange market.
The obligation in futures contracts mandates you to buy or sell an asset within the set time frame, regardless of the price fluctuations. This means that if the market price changes after initiating a futures contract, you must fulfil your obligation whether you will earn profits or losses.
With this derivative trading, you will speculate the direction of a security’s price using leverage. Futures can also be used to hedge an underlying asset's price movements to minimise losses in the event of unexpected price change.
How to Choose the Best Futures Trading Broker in the UK
Trading futures is risky, especially with the fluctuating assets’ prices and strict deadlines. For this reason, you need to stay abreast with the latest price trends and strategise on how to minimise losses while maximising the profit.
To effectively achieve your futures trading objectives, a suitable broker is what you need. However, identifying one won’t be easy. That is why you should consider the following factors.
Futures trading requires total commitment, and the last thing you need is to worry about your trading funds’ safety. For this reason, look for a futures trading broker that is highly regulated in the UK market by the Financial Conduct Authority (FCA).
Trading charges offered by any futures trading broker must align with your budget. This includes commissions/spreads, minimum deposit requirement, inactivity fees, and more. Some brokers have hidden charges, so ensure that you confirm this feature as well.
Futures trading platforms should make your experience easy and seamless. A good platform should offer trading resources to support your trades. Additionally, educational and research tools should be at your disposal to assist with research and strategy.
A futures trading broker cannot be complete without reliable customer service. Check if the available communication channels are convenient for you. You should be able to have your trading issues catered for on time to continue with your activities.
Testing a futures trading broker is encouraged to help you familiarise yourself with how a futures broker operates. With a demo account, you can confirm all the necessary elements that benefit your trading activity including, execution speed, charges, reliability, and more.
A broker can allow various modes of payment. But, are the available funding methods convenient for you? If you do not confirm a suitable payment method, you may end up going through currency exchange hassle every time you want to make a deposit or withdrawal.
The amount of money required to start trading futures depends on a futures trading broker’s requirement. Some brokers will have less minimum deposit requirement than others. Therefore, with as little as $100, you are off to a good start.
Yes. It is possible to day trade futures. What you need is a trusted and reliable futures broker like the ones in this guide.
Futures are highly leveraged than stocks, making them riskier. The fluctuating prices of futures underlying assets and deadlines also make futures a more risky trade.
Absolutely. Many traders are reaping the benefits of trading futures – profits. With excellent market research, strategy, and best futures trading broker, your profit potential increases.
Futures have more excellent leverage use compared to options. They are also more liquid giving them the potential of making traders more profits than options. Note that the riskier the trade, the more gains you are likely to earn.