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UK CFD brokers

Finding an excellent CFD broker in the UK is not a daunting task, although there can be legislative challenges if you are a UK resident. Most of the best forex brokers in the world have a physical presence in the UK, and many of these companies actively support the trading of CFDs. We have provided a list of the best ones and some helpful hints that can guide your process. You will need to know how to open an account, what things to consider when choosing a broker, and, more importantly, how to compare brokers against one another. This page is here to help you feel confident in selecting a CFD broker in the UK.

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Cfd Brokers Uk

4.2
Pros
  • An experienced broker with offices in 11 countries and complies with seven regulatory agencies
  • Over 1,000+ tradable instruments in portfolio
  • MT4 and proprietary trading platforms
  • Excellent award-winning training materials and a YouTube channel for beginners

 

Cons
  • Professional spreads are competitive, but retail spreads could be better
  • Inactivity fees apply
  • Research could be improved

 

 

Fees
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Platforms
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Markets & Products
Rating
Read Full Review
Pros
  • An experienced broker with offices in 11 countries and complies with seven regulatory agencies
  • Over 1,000+ tradable instruments in portfolio
  • MT4 and proprietary trading platforms
  • Excellent award-winning training materials and a YouTube channel for beginners

 

Cons
  • Professional spreads are competitive, but retail spreads could be better
  • Inactivity fees apply
  • Research could be improved

 

 

Take Me Broker Read Full Review

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% 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.

4
Pros
  • Fin-tech background provides a cutting edge
  • Institution grade trading infrastructure
  • Well-regulated with 24/5 customer support
  • 0.0 pips spreads and leverage up to 1:500

 

Cons
  • No crypto
  • Some cash withdrawal methods incur fees.

 

Fees
Rating
Platforms
Rating
Markets & Products
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Read Full Review
Pros
  • Fin-tech background provides a cutting edge
  • Institution grade trading infrastructure
  • Well-regulated with 24/5 customer support
  • 0.0 pips spreads and leverage up to 1:500

 

Cons
  • No crypto
  • Some cash withdrawal methods incur fees.

 

Read Full Review

4.2
Pros
  • Heavy regulatory compliance – FCA, CySEC, ASIC and others
  • Tight spreads and low fees for premium service on a proprietary platform
  • Beginner-friendly MT4 shop
  • Top-notch customer service

 

Cons
  • Website manoeuvrability can be confusing
  • Research tools are behind industry leaders
  • Average to higher spreads for standard offerings on the MT4 platform

 

Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Heavy regulatory compliance – FCA, CySEC, ASIC and others
  • Tight spreads and low fees for premium service on a proprietary platform
  • Beginner-friendly MT4 shop
  • Top-notch customer service

 

Cons
  • Website manoeuvrability can be confusing
  • Research tools are behind industry leaders
  • Average to higher spreads for standard offerings on the MT4 platform

 

Take Me Broker Read Full Review

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% 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.

Saxo Broker Review
4.6
Pros
  • Extensive product range
  • Research and analysis tools
  • Quality trading platform
  • Competitive spreads
  • Regulatory framework
Cons
  • Standing charges
  • Limited automated trading
  • Lack of Live Chat support
  • High minimum deposit
Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Extensive product range
  • Research and analysis tools
  • Quality trading platform
  • Competitive spreads
  • Regulatory framework
Cons
  • Standing charges
  • Limited automated trading
  • Lack of Live Chat support
  • High minimum deposit
Read Full Review

4.1
Pros
  • Heavily regulated in 11 jurisdictions, including FCA, ASIC and CySEC
  • Good transparency on fees, better than average on costs
  • Proprietary WebTrader platform and app have won many awards, user-friendly
  • More than 2,000 popular asset choices on CFD platform

 

Cons
  • Research and education materials could be more comprehensive
  • Customer service has no telephone access
  • No MT4 or MT5 trading platform products offered

 

Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Heavily regulated in 11 jurisdictions, including FCA, ASIC and CySEC
  • Good transparency on fees, better than average on costs
  • Proprietary WebTrader platform and app have won many awards, user-friendly
  • More than 2,000 popular asset choices on CFD platform

 

Cons
  • Research and education materials could be more comprehensive
  • Customer service has no telephone access
  • No MT4 or MT5 trading platform products offered

 

Take Me Broker Read Full Review

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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.

3.9
Pros
  • Major focus on social and copy trading with community of one million clients
  • More than 1,000 tradable asset choices
  • Professional trading tools and multiple funding methods
  • BaFin/CySEC regulatory oversight of German-based firm on Frankfurt Stock Exchange

 

Cons
  • Spreads and fees could be more competitive at basic retail levels
  • Withdrawal fee of $5 with complicated process
  • Does not offer service to residents of UK (terminated December 2021), US or Canada

 

 

Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Major focus on social and copy trading with community of one million clients
  • More than 1,000 tradable asset choices
  • Professional trading tools and multiple funding methods
  • BaFin/CySEC regulatory oversight of German-based firm on Frankfurt Stock Exchange

 

Cons
  • Spreads and fees could be more competitive at basic retail levels
  • Withdrawal fee of $5 with complicated process
  • Does not offer service to residents of UK (terminated December 2021), US or Canada

 

 

Take Me Broker Read Full Review

RISK WARNING: Derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading derivatives with this provider. You should consider whether you understand how derivatives work and whether you can afford to take the high risk of losing your money.

spreadex broker logo
4
Pros
  • Low fee/cost provider
  • Responsive customer service
  • A proprietary web-based platform is easy to use
  • Top-Tier regulation from the FCA
Cons
  • No MetaTrader platform products
  • No traditional trading in stocks, only CFDs
  • Only Professional clients can trade cryptocurrencies
  • Minimum support for beginners
Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Low fee/cost provider
  • Responsive customer service
  • A proprietary web-based platform is easy to use
  • Top-Tier regulation from the FCA
Cons
  • No MetaTrader platform products
  • No traditional trading in stocks, only CFDs
  • Only Professional clients can trade cryptocurrencies
  • Minimum support for beginners
Read Full Review

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investors lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. For professional clients, spread betting and CFD trading can result in losses larger than your initial stake or deposit.

4.2
Pros
  • No commissions on stocks or ETFs
  • Easy account opening process with minimum deposits of £1 or €1
  • Intuitive, easy-to-use trading app
  • Low fees and tight spreads
Cons
  • No trading in cryptocurrencies
  • No social or copy-trading
  • No phone support
Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • No commissions on stocks or ETFs
  • Easy account opening process with minimum deposits of £1 or €1
  • Intuitive, easy-to-use trading app
  • Low fees and tight spreads
Cons
  • No trading in cryptocurrencies
  • No social or copy-trading
  • No phone support
Take Me Broker Read Full Review

CFDs are complex instruments and come with a high degree of risk of losing money rapidly due to leverage. 77% 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.

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What is a CFD broker?

A CFD broker wagers with you on the speculation of the price direction of your chosen asset in the future without you having to purchase the underlying asset. The FCA currently bans CFD trading for retail clients in the UK, but if you can verify a residence outside of the UK in a jurisdiction that does not prohibit CFD trading, our list can help you.

Can you trade CFDs in the UK?

The FCA has not lifted its ban on retail trading of CFDs in the UK and has blocked foreign-based CFD brokers from soliciting UK residents. Professional traders are the exception to this rule, and to qualify, you must have one year of relevant experience in the industry and have traded heavily in the past year. Check with a broker for qualifying rules.

How to open a CFD account in the UK

During your UK CFD broker review, the broker will ask you to open an account on its website. When you initiate the process, you will need to submit ID information to verify your identity and address of residency to comply with international law. Approval can come quickly, or, if there is a problem, no more than one to three days is the norm.

How to choose a CFD broker

Choosing the most reliable CFD broker to enable your trading of CFDs is not a decision to be rushed, but it can be accomplished in a step-by-step manner like any other decision. First, learn as much as you can about the industry. You will come across the names of brokers in your search, but our list above will save you a lot of time. The next steps are:

  1. Choose candidates, preferably regulated CFD brokers, from the list provided.
  2. Evaluate your alternatives based on regulatory oversight, fees, features, products, trading platform options, support materials and customer service. It is also a good sign if the broker has received awards in the industry. We also have comparison tools to help you compare UK CFD brokers, factor by factor, presented side by side. Many candidates will let you try out their demo system before completing the application, approval and funding process.
  3. Make your choice and proceed with the application and the approval and funding process. Choose the best funding method offered from your personal perspective. Your bank may charge extra fees, depending upon your choice.
  4. Practice trading to become familiar with the broker’s platform, the issuance of execution orders, monitoring your trade, applying stop-loss orders, and closing a position. Test your trading plan on the virtual platform before going to real-time.
  5. In real-time, choose an asset and find a suitable trading set-up that fits your plan. It is best to start with small positions until you feel comfortable with the entire process, from opening a position to closing it for a gain or loss.
  6. This last step is important – monitor the performance of your broker. If anything does not seem right, try making a small withdrawal to test that process. Check the news for any pertinent information. If you feel that it is time to change brokers, we can help you once again to make an informed decision about the best UK CFD brokers. 

Trading fees in the UK

The two primary CFD trading fees in the UK are commission charges and spreads. Forex and commodities may be commission-free, but you might pay a 0.10% commission on a stock CFD at purchase and close. For a EUR/USD forex pair, a tight spread would be below 0.80 pips. If you hold a leveraged CFD without an expiry date open overnight, interest charges may also apply. Deposits tend to be free, but withdrawals may have a fee to cover banking costs. Our comparison tools can also help you in this area.

FAQs

How do become a CFD broker in the UK?

To become a CFD broker in the UK, you must first be vetted by the FCA and then qualify for a licence. Industry experience, professional credentials and financial backing are critical factors in this process. You will need capital to fund your start-up, a reliable trading platform, a professional website, and a host of banking and liquidity providers in the background. Safety and security are also significant issues, and the system must be thoroughly tested before going live.

Do CFD brokers lose money?

FCA regulations require that all CFD brokers post a risk disclaimer on their websites about the number of CFD traders who lose money. These casualty rates vary by broker but can easily range from 60% to 80% and even higher for beginners. The broker, however, loses money on the remainder of the trades and covers these losses with funds from the client losing trades. 

How does a CFD broker work?

CFDs are a wager between the trader and their broker. Aside from the fee and spread revenue, CFD brokers must carefully manage their liabilities for long and short trades by their clients. The broker will hedge its exposures in the market from time to time to lock in its paper gains. If the hedging process is effective, the broker will have funds from client trading losses to pay the 10% to 40% of winning trades from its customers.