Best CFD Brokers in the UK 2024
We rigorously test brokers on real accounts and evaluate them using our methodology. Here are the top CFD brokers based on our analysis:
- 1
Pepperstone UK - Best CFD trading broker in the UK - Wide selection of trading platforms. Tight spreads and favourable trading conditions. A large number of trading assets. - 2
AvaTrade UK - A wide selection of financial assets. Innovative trading platforms. Highly rated educational resources. - 3
Tickmill - Low trading fees. Variety of trading platforms. Extensive library of educational materials and analytical tools. - 4FxPro UK - Various trading platforms. A diverse range of available markets and products. Multiple analytics tools.
- 5
CMC Markets UK - Low trading fees. Wide range of markets and products. Access to the popular MetaTrader 4 and CMC Markets platforms. - 6
- 7
ActivTrades PLC - ActivTrades is a regulated broker with licenses from leading financial regulators. Wide range of trading assets. A wide variety of trading platforms. - 8
- 9
IG - Licenses from regulators with a high level of credibility. Tight spreads. A variety of markets and products. - 10
HF Markets UK - Wide selection of trading assets. A variety of educational materials and analytical reviews.
The brokers we have chosen stand out for their sophisticated trading platforms, attractive commission rates, and extensive selection of CFDs, making them top contenders for CFD trading.
Comparison of Top 10 CFD Brokers in the UK
Selecting the best CFD broker involves evaluating various factors such as regulation, trading fees, platform functionality, asset availability, and customer support. Below is a comparative overview of the top 10 CFD brokers in the UK for 2024:
1. Pepperstone
Pepperstone UK is a significant and reliable broker that offers a broad range of trading instruments and attractive trading conditions. With regulation by serious authorities, clients can be confident in the security of their funds.
The broker is suitable for various types of traders. Beginners will find extensive educational materials, including trading guides, webinars, instructional videos, and Forex trading courses. Experienced traders will also appreciate Pepperstone's opportunities, including favourable trading conditions, various trading platforms, and access to complex trading instruments.
The broker's technical support operates at a high level, offering clients quick and efficient responses to any questions.
Pepperstone is an excellent choice for traders of all experience levels. With a unique combination of educational materials, trading tools, and high-quality customer service, this broker ensures excellent conditions for successful trading.
Pros and Cons of Pepperstone UK
Pros
- Wide selection of trading platforms.
- Tight spreads and favourable trading conditions.
- A large number of trading assets.
Cons
- Lack of diversity in types of trading accounts.
2. AvaTrade
AvaTrade UK is well-suited for traders seeking a variety of trading instruments and user-friendly trading platforms. It can appeal to both beginners looking to start trading and experienced traders who want to expand their knowledge and skills.
Pros and Cons of AvaTrade UK
Pros
- A wide selection of financial assets.
- Innovative trading platforms.
- Highly rated educational resources.
Cons
- Limited trading account options.
- Account inactivity fee.
3. Tickmill
Tickmill offers high-quality services and conditions for trading on the international Forex market. With reliable regulation, access to popular trading platforms, and comprehensive educational and analytical materials, Tickmill becomes an attractive choice for traders of different experience levels.
The broker is suitable for novice traders, thanks to accessible educational materials and the ease of opening an account, as well as for experienced traders who value low spreads, platform stability, and a variety of trading instruments.
Pros and Cons of Tickmill
Pros
- Low trading fees.
- Variety of trading platforms.
- Extensive library of educational materials and analytical tools.
Cons
- Not enough different types of trading accounts.
4. FxPro
FxPro UK provides a comprehensive range of services and tools for traders. With its variety of trading accounts, platforms, and available markets, it is well-suited to meet the needs of different traders. The company offers extensive educational materials and analytical tools to aid in decision-making.
This broker suits traders looking for a wide selection of markets, diverse platforms, and analytical tools. It is also apt for beginner traders, thanks to the educational materials and experienced traders who value flexible trading conditions.
Pros and Cons of FxPro UK
Pros
- Various trading platforms.
- A diverse range of available markets and products.
- Multiple analytics tools.
- Extensive educational materials.
Cons
- An inactivity fee.
- Absence of cent accounts and services for copying trades.
5. CMC Markets
CMC Markets UK PLC has been a reliable CFD and Forex broker in the business for a long time. Top-tier financial authorities regulate the company, offers an excellent trading platform, and has low commission fees.
We believe it is an excellent choice for beginners and experienced traders. CMC Markets is a good option if you are looking for a trustworthy and reputable broker with extensive experience.
Pros and Cons of CMC Markets UK
Pros
- Low trading fees.
- Wide range of markets and products.
- Access to the popular MetaTrader 4 and CMC Markets platforms.
- Extensive analytical materials.
- Comprehensive educational materials.
Cons
- Limited account options.
- Inactivity fee.
- No online chat.
6. Admirals
Admirals UK is suitable for a broad spectrum of traders. With strict regulation, various account types, and a competent set of educational and analytical materials, this broker provides high-quality services for novice and experienced traders.
Beginners seeking detailed educational resources and support will undoubtedly appreciate this broker. Experienced traders will also find it beneficial due to competitive trading commissions, abundant tools for analysis and trading, and the convenience of the depositing and withdrawal process.
Pros and Cons of Admirals UK
Pros
- A variety of trading account types.
- Low trading fees.
- Wide range of payment methods.
- Extensive analytical resources.
- A rich collection of educational materials.
Cons
- Inactivity fee.
- Some users complain about the intrusiveness of the support service.
7. ActivTrades
ActivTrades PLC is suitable for beginner traders who value simplicity and intuitive trading platforms, as well as a variety of educational materials to improve their skills. Moreover, this broker can be a suitable option for experienced traders who prefer to trade various instruments and use the powerful features of the MetaTrader 4, MetaTrader 5, and TradingView platforms.
Pros and Cons of ActivTrades PLC
Pros
- ActivTrades is a regulated broker with licenses from leading financial regulators.
- Wide range of trading assets.
- A wide variety of trading platforms.
- Extensive training materials including webinars, videos, articles and guides.
- Professional support team.
Cons
- Lack of diversity in trading accounts.
8. OANDA
Oanda is an excellent choice for UK traders seeking a reliable and regulated broker with competitive spreads and various trading assets.
With quality analytics and diverse educational materials, Oanda suits beginners and experienced traders.
Pros and Cons of Oanda UK
Pros
- Tight spreads.
- Advanced trading platforms.
- Quality analytics.
- Extensive learning section.
Cons
- Limited trading account types.
- Inactivity fee.
- High swaps.
9. IG
IG is a highly regulated broker with licenses from reliable financial authorities, providing clients with high funds protection. Thanks to narrow spreads, traders can effectively manage their costs and increase the profitability of their operations. Quality trading platforms and advanced analytical tools support informed trading decisions, while extensive educational resources make IG attractive to traders of all experience levels.
Pros and Cons of IG
Pros
- Licenses from regulators with a high level of credibility.
- Tight spreads.
- A variety of markets and products.
- Extensive set of analytical tools and content.
- Quality educational resources for different levels of traders.
Cons
- Limited choice of trading accounts.
- High trading fee on DMA account.
- Inactivity fee.
- Limited choice of payment methods.
10. HF Markets
HF Markets UK is a reliable and appealing Forex broker, offering a wide selection of trading assets, a variety of account types, and access to the popular trading platforms MetaTrader 4 and MetaTrader 5. Thanks to its industry experience and regulatory compliance, the company has become a trusted partner for British traders of all levels of expertise.
HF Markets is recommended for those seeking a trustworthy and vetted broker with favorable trading conditions and customer support.
Pros and Cons of HF Markets UK
Pros
- Wide selection of trading assets.
- A variety of educational materials and analytical reviews.
Cons
- There is no alternative to MetaTrader.
- High swaps and wide spreads.
What is CFD?
Contracts for Difference (CFDs) are financial derivatives that allow traders to speculate on the price movements of various underlying assets without owning the assets themselves. CFDs are available on a wide range of instruments, including stocks, forex, commodities, indices, and cryptocurrencies.
How CFDs Differ from Other Financial Instruments
Unlike traditional trading, where you buy and own the actual asset, CFD trading involves entering a contract with a broker to exchange the difference in the asset's price from the time the contract is opened to when it is closed. This allows traders to profit from both rising and falling markets. Additionally, CFDs typically offer leverage, enabling traders to control larger positions with a smaller capital outlay.
Pros and Cons of CFD Trading
Advantages
- Leverage: Allows traders to control larger positions with a smaller initial investment.
- Flexibility: Ability to profit from both rising and falling markets.
- Diverse Markets: Access to a wide range of trading instruments from a single platform.
- Low Transaction Costs: Generally lower spreads compared to traditional trading.
Disadvantages
- High Risk: Leverage can amplify both profits and losses.
- Complexity: Requires a good understanding of financial markets and trading strategies.
- Costs: Overnight financing fees and other charges can accumulate.
- Regulatory Risks: Varies by region and broker, impacting trader protection.
Key Factors to Consider When Choosing a CFD Broker
Selecting the right CFD broker is crucial for your trading success. Here are the key factors to consider:
- Regulation and Security. Ensure the broker is regulated by reputable authorities such as the UK's Financial Conduct Authority (FCA). Regulation ensures that the broker adheres to strict financial standards, providing a secure trading environment and safeguarding your funds.
- Trading Fees and Costs. Evaluate the broker's fee structure, including spreads, commissions, and overnight financing fees. Lower trading costs can significantly impact your profitability, especially for high-frequency traders.
- Trading Platforms. A robust and user-friendly trading platform is essential. Look for platforms that offer advanced charting tools, automated trading capabilities, and compatibility with your preferred devices.
- Asset Availability. The range of available trading instruments should align with your trading strategy. A diverse selection allows you to diversify your portfolio and capitalize on various market opportunities.
- Customer Service. Responsive and knowledgeable customer support can be invaluable, especially when encountering technical issues or needing assistance with your account.
- Educational Resources. Comprehensive educational materials, including tutorials, webinars, and market analysis, can help enhance your trading skills and knowledge.
How Was the List of the Best CFD Brokers in the UK Compiled?
In compiling the list of CFD brokers for UK traders, we adhered to a meticulously defined and weighted set of criteria to ensure only the most reliable and high-quality brokers were selected. Our selection process included the following key factors:
We began by leveraging our comprehensive Forex broker list as the foundation for ranking, ensuring that brokers with proven excellence in Forex trading were also evaluated for their CFD offerings.
Brokers were rigorously assessed based on our strict testing standards, which evaluate their overall quality, reliability, and performance. This methodology ensures that only brokers meeting high operational standards make it to our final list.
All selected brokers offer services tailored to UK traders, providing terms and conditions that are accessible and favorable to a wide range of British investors. This includes compliance with UK regulations and support for trading in GBP.
We ensured that each broker provided specific offers and features for CFD trading, catering to both novice and experienced traders. This includes a diverse range of trading instruments, competitive spreads, and robust trading platforms.
The brokers included in our list meet stringent security requirements, safeguarding client funds through measures such as segregated accounts and adherence to regulatory standards set by UK authorities like the Financial Conduct Authority (FCA).
By applying these comprehensive criteria, we have curated a list of CFD brokers that are not only reliable and secure but also specifically cater to the needs of UK traders. This ensures that our recommended brokers provide exceptional quality services, enabling UK investors to engage in CFD trading with confidence and peace of mind.
FAQ
Is CFD trading legal in the UK?
Yes, CFD trading is legal in the UK. It is regulated by the Financial Conduct Authority (FCA), which ensures that brokers adhere to strict standards to protect traders.
What is the minimum deposit required to start trading CFDs?
The minimum deposit varies by broker but typically ranges from as low as $1 (e.g., Pepperstone) to around £200 for most reputable UK Forex brokers. Always check the specific broker's requirements before opening an account.
Can beginners successfully trade CFDs?
Yes, beginners can successfully trade CFDs, provided they invest time in learning about the markets and trading strategies. Utilizing educational resources and starting with a demo account can help build the necessary skills and confidence. Additionally, be sure to check out our Best Forex Brokers for Beginners in the UK list to find brokers that are well-suited for those just starting out.
What are the risks associated with CFD trading?
CFD trading involves significant risks, including the potential for substantial financial loss due to leverage. Other risks include market volatility, counterparty risk, and the possibility of incurring overnight financing fees.
How do I choose the right trading platform for CFDs?
Choose a trading platform that offers the tools and features that align with your trading style. Consider factors such as ease of use, charting capabilities, speed of execution, and compatibility with your devices.
Can I trade CFDs on my mobile device?
Yes, most top CFD brokers offer mobile trading platforms or dedicated mobile apps, allowing you to trade on the go from your smartphone or tablet.
What types of assets can I trade with CFDs?
CFDs allow you to trade a wide range of assets, including forex, stocks, commodities, indices, cryptocurrencies, and more. The availability of specific assets depends on the broker.
How do CFD brokers make money?
CFD brokers make money primarily through spreads—the difference between the buy and sell price of an asset. Some brokers may also charge commissions, especially on certain asset classes or account types.
Are demo accounts available for practicing CFD trading?
Yes, most reputable CFD brokers offer demo accounts, allowing traders to practice trading with virtual funds. This is an excellent way to familiarize yourself with the platform and develop trading strategies without risking real money.
