Plus500 has been one of the best CFD brokers globally since 2008. The broker offers a wide range of online CFDs on forex, shares, commodities, and more!
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Trading with an ASIC-regulated broker in the UK exposes you to various opportunities. For instance, such brokers offer UK investors access to the Australian Stock Exchange (ASX), where you get to invest in diverse company stocks within the region. Plus, you can effectively diversify your portfolio across global markets.
Note that many brokers in the UK are regulated by ASIC. For this reason, identifying the best options has become a daunting process for most traders. This is where we come in to apply our expertise and recommend the best. Our guide will also enlighten you on the benefits of using ASIC-regulated brokers and provide tips for getting started in the financial landscape.
List of the Best ASIC Regulated Brokers in the UK 2024
Plus500 – ASIC Regulated Trading Broker for CFD* Trading
eToro – Best ASIC Regulated Trading Broker for Beginner Traders
Pepperstone – Overall Best ASIC Regulated Trading Broker in the UK
City Index – Best ASIC Regulated Trading Broker for Forex Trading
IC Markets – ASIC Regulated Trading Broker with Lowest Spread in the UK
*80% of CFD retail accounts lose money
In this guide
Best ASIC Regulated Brokers in the UK
Compare ASIC Regulated Trading Brokers in the UK
We strive to offer unbiased recommendations to our readers. Therefore, we conduct extensive market research that involves multiple broker tests and comparisons. We consider various elements in this process, including security, charges, support services, asset offerings, and more. We then shortlist a few that meet our set criteria.
Licence/Regulation
Market Assets
Commission/Fees
Trading Platform
Modes of Funding
Customer Support
Our research proceeds to Google Play, the App Store, and Trustpilot. Here, we analyse user comments and ratings to understand their experiences with the brokers we have shortlisted. By combining findings from user testimonials with our test results, we are confident in making the best recommendations.
Here is our comparison table showing the top features of our recommended ASIC-regulated brokers in the UK. Utilise it to make a suitable choice.
Brief Overview of Our Recommended ASIC Brokers’ Fees and Assets
Choosing an ASIC-regulated broker in the UK with features aligning with your needs guarantees an exciting experience. Besides security measures employed, many UK traders consider asset availability and the fees applicable. If you have limited time to compare brokers’ fee structures and asset offerings, fret not for we are here to help. We did all the legwork and share tables below with brief overviews of our recommended ASIC brokers’ fees and assets.
1. Plus500 - ASIC Regulated Trading Broker for CFD Trading
Plus500 is one of the top ASIC-regulated brokers known for offering user-friendly and customisable platforms. Our experience was exceptional, as we loved exploring various asset classes. Moreover, the broker has a highly rated app with robust security measures to ensure there is no unauthorised access. Even though Plus500 only offers CFD instruments, its diverse asset class offerings make it easier for you to diversify your portfolio.
We got started at Plus500 with a minimum deposit of £100. All transactions are free, whether you use credit/debit cards, e-wallets, or bank transfers. Unfortunately, the broker imposes a £10 monthly inactivity fee, which kicks in after only three months. But on the brighter side, you will not incur commissions but low spreads, starting from 0.0 pips. Expert traders will also enjoy the broker’s “Professional Trading” section with advanced resources, including high leverage limits up to 1:30. Only professional traders may have access to up to 1:300, provided they meet specific criteria: sufficient trading activity in the last 12 months, a financial instrument portfolio of over €500,000, and relevant experience in the financial services sector.
1
Plus500 Review
TradingGuides Rating:
✔ Educational materials
✔ Regulated in many countries
Does not host third-party platforms like the MT4/5
Lists only CFD instruments
Type
Fee
Overnight Funding
yes
Currency Conversion Fee
0.7%
Guaranteed Stop Order
spread applies
Inactivity Fee
$10 per month
Withdrawls/Deposits
$0
Plus500 provides access to 2800+ CFDs across a wide range of different asset classes, including: Indices – Country and Sector, Forex, Commodities, Individual shares, ETFs, Options
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.
2. eToro - Best ASIC Regulated Trading Broker for Beginner Traders
From our analysis, eToro is a credible and reliable broker with excellent user testimonials. We like that it has a user-friendly platform on both its desktop and mobile app. Moreover, we discovered a plethora of learning materials, including articles, guides, videos, webinars, and more. Its support service is also one of the most responsive, with relevant solutions that will help you streamline your activities. With the above elements, we believe that eToro is a suitable option for UK traders looking for a reliable ASIC-regulated broker.
Getting started at eToro is straightforward, with simple procedures involved. With only a $100 minimum deposit, you will have access to its 5000+ instruments, including shares, forex, commodities, cryptos, indices, and more. Comparing the broker to its peers, we find its trading charges a bit higher. However, with proper planning and good strategy, eToro is worth exploring the financial landscape with. Its advanced resources are also impressive, allowing advanced traders to also enjoy their experience. And when it comes to social trading, eToro’s award-winning platform allows users to interact and mirror potentially profitable positions from the experts.
It is also budget-friendly since trading stocks on its platform is commission-free.If you do not have enough time to conduct research or are still learning how to research the markets, eToro’s social and copy trading platform lets you duplicate the experts’ investments.
1
eToro Review
TradingGuides Rating:
✔Copy/Social trading
✔Low minimum to fund an account and begin investing
Free deposits* via debit cards, e-wallets, and bank transfers
Excellent selection of learning resources
Offers a £100,000 virtually funded demo account for newbies to gauge their skills with
Cons
Imposes withdrawal fees
No third-party platforms like the MT4/5
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)
Stocks – there is a total of 800 stocks offered ranging from the biggest tech businesses in the U.S. to smaller companies from all over the world. Stock trading is always commission-free with eToro.
Cryptocurrencies – being one of the first brokers to jump on the cryptocurrency bandwagon, it comes as no surprise that eToro dominates this segment. With more than 20 coins and a number of cryptocurrency pairs, there is enough for all crypto traders.
Currency Pairs – in the early days, eToro was just another FX broker and even though they’ve developed since, the broker has stayed true to its roots. As a trader, you can choose between 49 currency pairs ranging from majors and minors to a few exotic ones.
Long-Term Investments– unlike many online brokers, eToro is also suitable for long-term investments. For example, their investment portfolios are a great way to diversify your portfolio and limit risk.
Additional assets – in addition to the above, eToro provides access to commodities, indices, and ETFs as CFDs. There is also a range of unique assets such as Crypto Portfolios that are only offered by eToro. This means that you can create a diverse portfolio with ease.
*A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
3. Pepperstone - Overall Best ASIC Regulated Trading Broker in the UK
Pepperstone has made a name for itself throughout its operating years and has managed to gain global traders’ and investors’ trust. We signed up for trading accounts at Pepperstone and like that the account creation process was easy. Plus, we like its modern design platform, which is also customisable. On top of that, Pepperstone has no minimum deposit requirement. This makes it a suitable choice for any trader, whether a newbie who is not willing to risk a lot of money or a professional looking to open multiple positions during the day.
When it comes to asset offerings, we discovered over 1200 options across various asset classes. These include forex, shares, commodities, indices, ETFs, and more. You can trade these securities and CFDs or spread betting with spreads starting from 0.0 pips. We were also impressed by its diverse platform offerings with advanced resources. You can choose to trade on its MT4, MT5, cTrader, and TradingView platforms, depending on your preference.
1
Pepperstone Review
TradingGuides Rating:
✔ Top tier liquidity ✔ No dealing desk intervention
Hosts multiple platforms with fast trade execution speed
It has an Active Trader reward program for professional traders
Features social trading
Cons
Limited asset offerings compared to its peers
There is no buying and taking ownership of the underlying asset
Type
Fee
Minimum Deposit
$200
Withdrawal fee
$0
Deposit fee
$0
Inactivity fee
No
Account fee
No
1200+ instruments across FX, indices, cryptocurrencies*, equities, energy and commodities, and more, across three, free powerful platforms.
*Only Pro clients get access to cryptos.
4. City Index - Best ASIC Regulated Trading Broker for Forex Trading
After thorough testing and analysis, we find City Index the best ASIC-regulated broker for forex trading. While testing it, we had an exceptional trading experience on desktop and mobile devices. City Index lists over 80 currency pairs, which you get to trade commission-free with spreads as low as 0.3 pips on major pairs. The broker also has a low minimum deposit requirement of £100, making it an excellent option for low-budget traders looking for ASIC-regulated forex brokers. Beyond forex, users will enjoy an additional 12000+ securities, including shares, commodities, indices, and more.
We like this broker’s user-friendly and intuitive design WebTrader platform. For those looking for advanced platforms, City Index hosts the MT4 and TradingView, which we believe enhances the user trading experience. Moreover, the broker lists many quality trading tools for analysis. Beginners will also enjoy numerous learning resources and a virtually funded demo account for gauging their skill levels.
City Index has a wide selection of over 12,000 assets. You can trade CFDs on over 4500 shares, and over 65 global currency pairs.
5. IC Markets - ASIC Regulated Trading Broker with Lowest Spread in the UK
IC Markets has numerous features that made us include it in our recommendations list. We primarily like that it charges low spreads from 0.0 pips across all its listed assets. Moreover, It features micro lot trading, enabling newbies and low-budget traders to explore the financial market without spending a lot of money. Creating an account on its website is easy, but you must deposit at least £200 to enjoy the low spreads.
When it comes to asset offerings, this broker lists over 2250 options across various asset classes. These include forex, shares, indices, commodities, futures, bonds, cryptocurrencies, and more. We also discovered over 15 payment methods in 10 different base currencies. This enables you to select an option that is most convenient for you. For professional traders, this broker lists multiple platforms, including cTrader, TradingView, MT4, and MT5. You can enjoy advanced features such as automated trading, hedging, scalping, and social trading.
1
IC Markets Review
TradingGuides Rating:
✔Easy and fast account opening ✔Free deposit and withdrawal
High leverage limit up to 1:500 for professional traders
Quality selection of learning and market analysis tools
Features social trading, allowing you to interact with other traders and mirror potentially profitable positions from the experts
A user-friendly and modern design platform with fast trade execution speed
Cons
Lists only CFD instruments
Its minimum deposit requirement might seem high for low-budget traders
Account cTrader
Account Raw Spread
Account Standart
Trading platform
cTrader
MetaTrader
MetaTrader
Comission (per lot)
$3 ($6 per lot roundturn)
$3.5 ($7 per lot roundturn)
$0
Spreads from (pips)
0.0
0.0
0.6
Starting deposit
$200
$200
$200
Leverage
1:500
1:500
1:500
IC Markets has more than 1750 tradable instruments. Multiple assets make it ideal for high-volume traders who are seeking the best possible prices. In addition, traders will also find 61 Forex Market products, 22 commodities, 25 indices, 11 bonds, and 13 digital currencies in the global markets.
What is ASIC?
The Australian Securities and Investment Commission (ASIC) is an independent Australian government body responsible for overseeing financial services in the region. Its main goal is to protect traders, investors, consumers, and creditors. Established in 1998, the commission’s core areas of responsibility include corporate governance, securities and derivatives, financial services, insurance, consumer protection, and financial literacy.
Simply put, ASIC’s role is to ensure the Australian market remains fair and transparent for all users. It fights against imposters, scammers, and money laundering activities, thus boosting investors’ or consumers’ confidence. It regulated financial markets, financial services institutions, and finance professionals.
Some of the roles of ASIC include registering financial service providers, making legislative rules to protect the integrity of the financial market in the region, and investigating suspected breaches. And when a broker or financial service provider goes against its laid down rules, the authority has the power to take action against it. These may include imposing fines, revoking licences, issuing warnings, and more.
As mentioned above, ASIC has laid down rules that every broker in Australia must adhere to to ensure the financial market is secure. It mostly focuses on protecting traders and consumers in the region. For instance, through an ASIC-regulated broker, your funds are secured in segregated accounts. With no one having access to your funds, including the brokers, you are guaranteed maximum safety. It will also be easier for you to recover the money in case the broker goes bankrupt.
Another way ASIC protects traders and investors is by ensuring brokers have enough operating capital of at least A$ 1 million to limit cases of failure due to massive losses. Moreover, it reviews all brokers’ asset offerings and approves only those that meet its specifications. And to ensure the brokers abide by its laid rules, ASIC requests regular auditing and financial compliance reports. Through this procedure, it can easily identify any breaches and take action.
ASIC-regulated brokers are obligated to maintain insurance coverage for their clients. This will enable you to recover your funds in case of misconduct such as negligence.
Overall, ASIC is one of the global authorities with stringent regulations for brokers in the financial market. To find out if a broker is ASIC-regulated, visit the broker’s official website and head to the bottom of its homepage. You can also confirm the regulatory status on ASIC’s official website. It is important to confirm this element to avoid falling victim to scammers.
How to Choose the Right ASIC-Regulated Trading Broker UK
Many ASIC brokers go beyond extending their services in ASIC and the EU. They also accept clients across other global regions under the approval of relevant authorities in those jurisdictions. In the UK, such brokers can only be approved by the FCA. So, whether you consider looking into our list or recommendations for conducting your own research, below are the elements to help you identify the best option.
The best ASIC broker must not only be licensed by ASIC but also by the FCA. Having an approval in the UK market guarantees the safety of your funds. You will also have the best environment to trade and invest in. You can confirm a broker’s credibility on its official website or the relevant authorities.
Consider an ASIC-regulated broker you can afford. This means you must confirm a broker’s commissions and spreads. You should also check its non-trading fees, including minimum deposit requirement, deposit and withdrawal fees, inactivity costs, and more.
Partnering with an ASIC-regulated broker featuring your preferred asset should be a priority to any trader. If a broker supports numerous asset classes, this should be a bonus. You will easily diversify your portfolio without seeking other brokers. Remember, portfolio diversification limits the risks that come with investing in a single asset.
Choose an ASIC-regulated broker with a user-friendly platform that fits your skill level. If you are a beginner, confirm the availability of a demo account. For professional traders, ensure the broker hosts advanced trading resources that will give you an exciting experience. Most importantly, check the quality of research and learning materials. This will help you easily strategise and continue learning the markets without seeking other resource providers.
Most ASIC brokers support transactions using multiple payment methods. While this element might seem irrelevant to many, ensure your broker offers payment services via a convenient method. This way, you can easily transact and focus more on training or investing rather than the hassle of currency transfers and conversions.
The best broker regulated by ASIC must have a reliable and responsive support service. Its support team must be responsive and offer relevant solutions that will help advance your ventures. Plus, ensure the support service is reachable via convenience channels, whether phone, email, or live chat.
While we encourage you to consider the above elements when choosing the best ASIC broker, that’s not all. Consider visiting Google Play, the App Store, and Trustpilot to analyse user comments and ratings. This way, you will get enough insights into what each broker offers and make informed choices.
How to Register an Account with an ASIC-Regulated Broker
Creating a trading or investment account with an ASIC-regulated broker is a straightforward process that takes minutes to complete. Before you begin, ensure you are well-versed in the market you want to trade. Plus, analyse the broker’s features and be confident that it is suitable for your trading needs. You can then follow the steps below to set up your account and kickstart your ventures.
If you have chosen a broker from our recommendations list above, click any of the links we have shared to quickly access your preferred broker’s website. And before you start to create your account, ensure you read and understand its terms of service. This will ensure both parties are on the same page, and you are guaranteed an exciting experience.
For traders or investors who are always on the move, consider installing your broker’s trading app on your mobile device. This way, you can easily manage and track your activities anywhere, anytime.
Click on the register or sign up button at the top right corner of your broker’s website to begin the registration process. For most ASIC-regulated brokers, you will be provided with a form to fill out using your personal details. These include your name, email, phone number, date of birth, and more. Your broker will also require you to create a unique username and password for added protection to your account. You do not want to have unauthorised access to it.
Once you have completed the above procedure, you must participate in account verification to fully set up your account. This is a standard protocol set by the FCA to ensure the UK’s online financial space is free from imposters. In this regard, your broker will request some copies of your personal documents as proof of identity and location. These include your government-issued ID card and utility bill, respectively. You can also submit copies of your passport or bank statement for this purpose.
Note that the verification process takes time. Therefore, be patient and wait for your broker to send you an email notification once your account is fully activated.
At this point, you are free to fund your account per your broker’s minimum deposit requirement. Choose a payment method that is most convenient for you to avoid wasting time in transactions or currency conversions. For our recommended brokers above, you can make a deposit using credit/debit cards, e-wallets like PayPal and Neteller, and bank transfers. Some transaction methods offer instant deposits, while others take time. Therefore, wait for your broker to confirm your deposit, and you will automatically be redirected to its listed assets.
Choose the assets you have conducted research on to trade or invest in. Then, select a trade size based on your budget and apply risk management control before opening a position. If you are new to a broker, we advise you to start trading using its demo account. This account is risk-free and virtually funded. You will not spend your hard-earned money here, which means that you should also not expect to earn real cash profits. You can then transfer your activities to a live trading account once you feel confident in your skills and are ready to risk real money.
FAQs
How are brokers regulated?
The financial authorities ensure that brokers within their jurisdiction adhere to the laid regulations in order to protect the investors. This includes securing the traders’ funds and providing the best service for a better trading experience.
How does an ASIC work?
ASIC regulates brokers in Australia by ensuring that the financial markets are traded safely while securing the investors’ funds.
Who needs to register with ASIC?
All businesses in the Australian financial markets, including brokerage firms, should register with ASIC.
Why should businesses use ASIC?
This is to improve performance in the Australian financial markets. Using ASIC also differentiates legitimate businesses from unauthorised ones.
Conclusion
Accessing the Australian market in the UK has been made easy by using ASIC-regulated brokers. Simply choose what you are familiar with and focus on it. Do not put all your eggs in one basket when it comes to trading or investing. Remember, the market can be unpredictable depending on various conditions. You do not want to risk losing all your capital in case a trade works out against you. Therefore, diversify your portfolio across different asset classes to limit this risk.
For beginners, take advantage of learning resources and demo accounts provided by brokers to boost your skills and confidence. Never stop learning and staying abreast with the latest developments. Most importantly, remain disciplined, stick to your plan, and write down your strategies to avoid making the same mistakes in the future.
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.
Thadeus Geodfrey
Is a regular dad trying to be smart about how we play and win in this big game of life. He has worked within the very best of the financial industry producing numerous training resources. He is an experienced copywriter with immense financial background. Now earns a full time living as a Trader, and as our writer.
His articles help everyday families build sustainable wealth, stop stressing about their financial security, and start living the life they’ve always wanted.
If he is not trading or writing, he is at the gym.
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