9 Best CFD Brokers in the UK 2024 According to Traders

Contracts for difference (CFDs) are a popular financial product in the UK.

CFDs offer low-cost access to thousands of markets – such as stocks, currencies, gold, and oil – without needing to own the underlying asset. Plus, CFDs offer leverage in addition to short-selling capabilities.

In this comparison guide, we discuss the best CFD brokers in the UK and cover everything traders need to know about regulation, fees, payments, supported markets, trading tools, and more.

UK CFD Brokers Reviewed

Selecting the best CFD broker in the UK requires traders to explore the regulatory status of the provider, in addition to metrics surrounding supported markets, fees, spreads, and more.

Below, we offer in-depth reviews of the best CFD trading platforms in the UK.

1. XTB – Popular CFD Broker for Low Spreads     

XTB offers exclusively CFD instruments. Across more than 2,100 markets, this CFD broker offers access to a wide range of commodities, stocks, ETFs, and indices. XTB is often regarded as one of the best forex brokers in the UK among traders that seek access to low fees.

The reason for this is that XTB offers 0% commission not only on forex but on all supported markets. In terms of spreads, Amazon stock can be traded from $0.50 per slide, and EUR/USD starts at 0.1 pip. XTB offers UK traders leverage on all markets, in line with FCA limits.

This means a limit of 1:30 on major currency pairs and lower on other assets. XTB has its own trading platform called xStation, which you can access online or through a mobile app. xStation is also available as downloadable desktop software. Other key features from XTB include a demo account, educational resources, and market analysis.

Your capital is at risk. 76% of retail CFD accounts lose money.

2. AvaTrade – Trade CFDs Without Paying Any Commission

The next provider on our list of CFD brokers in the UK is AvaTrade. This popular platform supports a wide selection of CFDs, in addition to spread betting markets. The latter will appeal to UK traders that wish to speculate on the financial markets without paying tax on their capital gains.

Getting started with AvaTrade requires a minimum first-time deposit of £100 and UK traders can opt for a debit/credit card, e-wallet, and bank transfer. Many traders consider AvaTrade to be a low-cost CFD broker, not least because all supported markets can be traded at 0% commission alongside competitive spreads.

EUR/USD and Amazon stock, for instance, can be traded at a spread of 0.9 pips and 0.14%, respectively. AvaTrade supports multiple platforms across web, mobile, and desktop trading. In addition to its own native platform, this includes MT4 and MT5. Passive traders also have the option to use AvaTrade with DupliTrade or ZuluTrade.

71% of retail investor accounts lose money when trading CFDs with this provider.

3. Trade Nation – Pay Low-Cost Fixed Spreads and Trade More than 1,000 CFD Assets

Based out of the United Kingdom, Trade Nation is a popular trading platform that started in 2014. Traders can engage in CFD (Contracts for Differences) trading by creating a new account and signing in via Meta Trader 4 (MT4). 

With MT4, all traders can trade over 1,000 CFDs on multiple asset classes, including stocks, indices, commodities, and forex pairs. One can asset some of the best forex pairs with Trade Nation, including GBP/USD and EUR/USD. The platform charges a fixed spread of 0.4 pips for the popular EUR/USD trading pair. 

Similarly, users can trade popular UK-based stocks such as Vodafone, Barclays, and BT. Through the MT4 trading account, one can leverage multiple trading indicators and access price charts to conduct technical analysis. 

This trading platform does not charge additional or hidden fees, making it an affordable option for many investors. Trade Nation is regulated by the Financial Conduct Authority (FCA) in the United Kingdom. It is also covered by the Financial Services Compensation Scheme (FSCS) in the UK, which is an organization that returns funds that have been lost due to the errors of financial institutions such as banks. 

Interested traders can deposit with debit/credit cards such as VISA and Mastercard. Other payment methods include instant bank transfers and Astropay. Users can also deposit with Skrill and Neteller. 

With Trade Nation, one can also apply leverage to increase the valuation of their trades. However, this is a high-risk investment since it heightens the chance of winning and losing your earnings. 

75% of retail investor accounts lose money when trading CFDs with this provider.

4. Pepperstone – Access Institutional-Grade Spreads

Pepperstone is a CFD broker that offers trading tools and features for a wide variety of traders. Many casual traders say they appreciate the standard account, with offers access to CFDs at 0% commission and a minimum spread of 0.6 pips.

Seasoned traders that wish to invest larger amounts can try the Pepperstone Razor account. While this account type attracts a commission of $3.50 (about £3) for every lot traded, it offers access to institutional-grade spreads. This means that major markets like EUR/USD can often be traded at a spread of 0.0 pips.

Both account types come without a minimum deposit requirement and funding can be initiated with a debit/credit card or bank transfer. Pepperstone supports multiple stock exchanges, in addition to forex, indices, precious metals, and energies. Although there is no native trading platform offered by Pepperstone, there is support for MT4, MT5, and cTrader.

75.3% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

5. Axi – Award-Winning CFD Broker Offering Copy Trading

Axi has proven that it’s an in-demand broker by offering services to traders in more than 100 countries. Traders can use Axi for forex, commodities, precious metals, indices and share CFDs. More than 60,000 traders take advantage of $0 commission and 30:1 leverage trading on Axi.

Forex traders can access more than 70 currency pairs, and stock traders can choose more than 50 shares across the UK, US and European markets. Besides offering low spreads, Axi enables traders to choose accounts best suited to their trading goals. Traders can choose between standard, pro and elite accounts.

Standard accounts don’t incur commissions unlike the other two accounts — offer spreads from 0.0 pips. An elite account offers 400:1 leverage but requires a minimum deposit of $25,000.

Axi provides one of the best CFD broker platforms for beginner traders to use and for pro traders to incorporate advanced tools. Traders can enhance their trading strategies by incorporating PsyQuation and AutoChartist. Psyquation reduces trading mistakes by providing performance analytics, and AutoChartist scans the market and alerts traders of specific trade set ups.

Another way for traders to benefit is by copying the trades of professionals. The CopyTrading feature is free and enables beginners to mimic the trades or professionals by copying their trades. Axi’s top 50 traders have achieved more than 263% returns.

81.6% of retail investor accounts lose money when trading CFDs with this provider.

6. IG – More Than 18,000 CFDs Supported by This Established Broker   

IG is a UK-based brokerage that offers a wide spectrum of trading markets. This is inclusive of more than 18,000 financial instruments across both CFDs and spread betting. Furthermore, IG also offers real ownership of stocks and funds, with trading fees amounting to £3 or £8 per position.

This will depend on how many trades are placed within a 30-day period. All CFD markets, apart from stocks, can be traded on a 0% commission basis.

This includes everything from forex and indices to precious metals and energies. Stock CFDs, on the other hand, will attract a variable commission – which is dependent on the market.

For example, UK and European stocks can be traded at a commission of 0.10%. US stocks will cost $0.02 per share traded. IG offers leverage to all UK retail clients in line with FCA limits.

Note that deposits on IG can be expensive than some of the other top CFD brokers in the UK. The minimum deposit £250 and Visa and MasterCard payments attract a fee of 1% and 0.5%, respectively.

7. XM – CFD Broker that Enables Small Stakes 

Another provider on our list of best UK CFD brokers is XM. This platform supports more than 1,000 CFD instruments across forex, stocks, indices, and commodities. The minimum first-time deposit across all account types is just $5 – or about £4.

Both the micro and standard accounts at XM offer a 0% commission trading experience, with spreads starting at 1 pip. The XM zero account, however, offers spreads from 0 pips alongside a standard commission. Islamic accounts are offered by XM too, which means no overnight financing fees on CFD swaps.

After opening an account, XM users can access their trading dashboard via MT4 or MT5. XM also supports a trading app for iOS and Android smartphones.

8. CMC Markets – Low-Cost CFD Broker With 12,000 Markets

CMC Markets is the final provider that we will discuss on this list of best CFD brokers in the UK. This platform offers a huge range of markets across thousands of financial instruments – all represented by CFDs. This means that UK traders can access leverage and short-selling positions with ease.

Asset classes include stocks, ETFs, forex, commodities, and indices. When it comes to fees, stocks and ETFs attract a commission here, while other CFD markets do not. Spreads are competitive across most instruments, with EUR/USD available to trade at 0.7 pips per slide.

There is no minimum deposit requirement at CMC Markets and in most cases, UK residents can open an account in under five minutes. Customer support at CMC Markets is highly rated and the broker is regulated by the FCA.

9. Admirals – Licensed CFD Broker in the UK For 20 Years

Admirals, formerly Admiral Markets, boasts over two decades of experience since its establishment in 2001. it is one of the few brokers that serves a global clientele spanning more than 130 countries. Over the years, this platform has positioned itself as a leading Forex and CFD Broker in the UK, offering an impressive selection of over 8,000 instruments, including popular currency pairs, indices, and commodities. The company has even won more than 20 international industry awards, further proving its quality as a broker.

Admirals hold licenses from several reputable financial authorities, including the FCA (Financial Conduct Authority), the UK’s regulatory body. This reflects its commitment to maintaining high regulatory standards and ensuring a secure trading environment for the client.

One of Admirals’ notable features is its access to 15 of the world’s largest stock exchanges, providing traders with a wide array of investment opportunities. Furthermore, the platform offers both MetaTrader 4 and 5, available for download as standalone software, providing users with a robust and versatile trading experience. In its entirety, the platform is one of the best options available in the market right now and is an option that must not be ignored, especially when it comes to the best CFD brokers in the UK.

74% of retail investor accounts lose money when trading CFDs with this provider.

Best CFD Trading Platforms UK Compared

Selecting the best CFD broker online in the UK is no easy feat considering the many metrics at hand. As such, below we offer a comparison table that outlines key statistics concerning the UK CFD brokers reviewed in the sections above.

How We Find the Best UK CFD Brokers

Traders are advised to conduct their own independent research when comparing CFD brokers in the UK. The best investment platforms in the UK offer access to CFDs and a wide range of trading tools.

Therefore, in the sections below, we explain the core factors and metrics to look for during the research process.

Regulation

One priority when choosing the best CFD broker in the UK is regulation and safety.

As such, the first step is to ensure that the provider is regulated by the FCA. Some CFD platforms are also regulated by other tier-one bodies, such as ASIC and CySEC.

FSCS cover is also an important item to look out for, as it allows users to claim compensation if the financial firm you use goes out of business.

Supported CFD Instruments  

Users looking for the best ways to invest £5,000 in the UK may be interested in speculating on CFDs. The best CFD brokers in the UK offer access to several thousand markets across multiple asset classes. For example, traders can place trades on UK and international stocks, ETFs, forex, commodities, and indices.

Note: Those wondering how to invest cryptocurrency in the UK will not be able to do so via CFDs, as per the FCA.

Fees

All of the best UK CFD brokers discussed today offer competitive fees and commissions.

For a recap of what fees to expect when choosing the best broker for CFDs in the UK, refer to the comparison table below:

Tools and Analysis

Another important factor to look for when comparing the best UK CFD brokers the availability of trading features. These could include copy trading, which allows UK residents to mirror the buy and sell positions of an experienced investor. In addition, traders may need high-level trading tools and charting features, alongside technical indicators and advanced pricing analysis.

Minimum Deposit

Many CFD brokers require no minimum deposit at all. Others stipulate a first-time minimum of £250. For example, in our GO Markets UK review we found that this leading CFD broker has a minimum deposit of £200.

Demo Account

Demo trading facilities can be important to the success of traders. This enables traders to test strategies without risking real money.

Mobile App

Many traders want the ability to place trades on the go, and this is enabled by a user-friendly and fully optimized mobile app. CFD trading apps in the UK should offer full functionality regarding placing orders, conducting analysis, and account management.

Payment Methods

Many UK retail clients will elect to deposit funds into a CFD brokerage via a debit or credit card. This payment type is supported by many popular CFD brokerages on a fee-free basis, in addition to e-wallets and bank transfers.

Customer Service

Some UK CFD brokers offer customer support around the clock. Phone or live chat support may enable traders to get an answer faster.

Conclusion

This review set out to answer which CFD broker is the best. In conclusion, the best CFD brokers in the UK generally offer access to thousands of markets at low or even zero commission. Traders can access a wide variety of financial instruments including stocks, indices, commodities, forex, and more.

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