Best CFD brokers in the UK in 2024

Written by
Krisztián G.
Fact checked by
Tamás D.
Updated
3w ago
Dive into our toplist of regulated and trusted brokers that we tested with real money. Every broker is available in the United Kingdom.

Find below the strengths of the best CFD brokers available in the United Kingdom, updated for 2024:

  1. XTB is the best CFD broker in the UK in 2024. - Commission-free stocks and ETFs (for trades up to €100k per month). Free and fast deposit and withdrawal. Easy and fast account opening. High interest paid on cash.
  2. Saxo Bank - Great trading platform. Outstanding research. Broad product portfolio. Interest paid on uninvested cash.
  3. Admirals (Admiral Markets) - Low forex CFD fees. Free and fast deposit and withdrawal. Straightforward account opening.
  4. IC Markets - Low forex fees. Easy and fast account opening. Free deposit and withdrawal. Offers standard and raw spread accounts.
  5. eToro - Free stock and ETF trading. Seamless account opening. Social trading.
  6. Spreadex - Low forex fees. Good web platform. Helpful customer service.
  7. FXTRADING.com - Low forex fees. Easy and fast account opening. Free deposit and withdrawal.
  8. Trading 212 - Real stocks and ETFs are commission-free. Quick and easy account opening. Great trading platforms. Pays interest on uninvested cash.
  9. City Index - Low fees for forex. Fast and smooth account opening. Diverse research tools.
  10. Pepperstone - Fast and fully digital account opening. Great customer service. Seamless and free deposit and withdrawal.
Got questions?
Engage with our growing community of traders and investors like you to find your answers.
Join now

Comparison of top CFD brokers and trading platforms in the UK in 2024

While many online CFD brokers and trading platforms catering to investors in the UK offer an excellent service, the ones in our toplist go the extra mile.

Broker
Minimum deposit
Time to open account
XTB
$0
1 day
Saxo Bank
$0
1 day
Admirals (Admiral Markets)
$100
1 day
IC Markets
$200
1 day
eToro
$10
1 day
Spreadex
$0
1-3 days
FXTRADING.com
$200
1 day
Trading 212
$1
1 day
City Index
$0
1 day
Pepperstone
$0
1 day
Best CFD brokers in the UK key data compiled for March 2024

Popularity of the best CFD brokers in the United Kingdom

Interested in what others think? Here's how many people chose these brokers at BrokerChooser in the last 6 months.

Fee comparison of the best CFD brokers in the UK

How much you have to pay for a trade in spreads, commission and other trading costs is a key broker selection criteria. Check the spreads in the table below. In case of stock CFD, we calculate the fees for a $2,000 trade held for 1 week.

Broker
S&P 500 CFD spread
Apple CFD fee
XTB
0.5
$9.4
Saxo Bank
0.5
$11.6
Admirals (Admiral Markets)
0.4
$3.7
IC Markets
0.2
$1.6
eToro
0.8
$8.5
Spreadex
0.4
$11.7
FXTRADING.com
0.3
-
Trading 212
1.1
$14.6
City Index
0.4
$23.2
Pepperstone
0.4
$4.5
Fees at the top UK CFD brokers in March 2024

If you are unsure how brokerage fees work, check out this article on the various fees, charges and costs.

Non-trading fees at the best CFD brokers in the UK

Non-trading fees are charges not directly related to a given trade and typically include the account maintenance fee, deposit/withdrawal fees, and the inactivity fee.

Broker
Withdrawal fee
Inactivity fee
XTB
$0
Saxo Bank
$0
Admirals (Admiral Markets)
$0
IC Markets
$0
eToro
$5
Spreadex
$0
FXTRADING.com
$0
Trading 212
$0
City Index
$0
Pepperstone
$0
Non-trading fees at the top UK CFD brokers in March 2024

Product selection at the best CFD brokers in the UK

Check out what types of CFDs you can trade at the best CFD brokers and CFD trading platforms.

Broker
Stock index CFD
Stock CFD
XTB
Saxo Bank
Admirals (Admiral Markets)
IC Markets
eToro
Spreadex
FXTRADING.com
Trading 212
City Index
Pepperstone
Available products at the top UK CFD brokers

CFD trading in the UK

Trading CFDs is fully legal in the United Kingdom. What’s more, London is the birthplace of these financial products. Financial firms created these instruments in the 1990s as a hedging tool for clients that wanted to short sell the market on leverage to offset losses on the London Stock Exchange.

CFD trading in the UK is supervised by the Financial Conduct Authority (FCA), which has warned about the risks associated with these products, especially when they are marketed to inexperienced retail traders.

In an effort to stamp out scams and indecent practices, the FCA introduced stringent regulations, such as limiting leverage (lending to customers to be able to take larger position sizes) to between 30:1 and 2:1, depending on the volatility of the underlying asset.

Under other regulatory requirements imposed by the FCA, brokers must ensure that:

  • Customer positions are closed out when their funds fall to 50% of the margin needed to maintain their open positions on their CFD account.
  • A client cannot lose more than the total funds in their CFD account (i.e.: negative balance protection).
  • No financial and non-financial incentives are offered to clients to encourage trading.
  • They publish a standardized risk warning telling potential customers the percentage of their retail client accounts that make losses. Accordint to the FCA, on average, 80% of retail customers lose money when trading CFDs.

Taxation of CFD trading in the UK

CFD trading is exempt from stamp duty in the UK but if you make profit on such trades, you will need to pay capital gains tax (CGT). As an individual, if you’ve made a capital gain on a CFD above your CGT allowance, you will need to file a Self Assessment tax return to declare this profit and pay tax on it.

And now, let's see the top CFD brokers in the UK one by one, starting with the winner, XTB.

XTB Logo

XTB

Recommended for forex and CFD traders looking for low fees and great deposit/withdrawal service

Visit broker
76-85% of retail CFD accounts lose money

XTB snapshot
Minimum deposit $0
Mobile app score 4.4 stars
Deposit methods Bank transfer, Credit/debit cards, Paysafe, Skrill, ecommpay, PayU, PayPal
Withdrawal fee $0
Read review For a detailed analysis of XTB services, check out our review for 2024

Recommended for investors and traders looking for a great trading platform and solid research

Visit broker

Saxo Bank snapshot
Minimum deposit $0
Mobile app score 5.0 stars
Deposit methods Bank transfer, Credit/debit cards
Withdrawal fee $0
Read review For a detailed analysis of Saxo Bank services, check out our review for 2024

Recommended for forex traders who are familiar with the MetaTrader trading platforms

Visit broker
80% of retail CFD accounts lose money

Admirals (Admiral Markets) snapshot
Minimum deposit $100
Mobile app score 4.3 stars
Deposit methods Bank transfer, Credit/debit cards, Skrill, PayPal, Klarna, Neteller, SafetyPay, AstroPay, Trustly, Rapid Transfer, NganLuong
Withdrawal fee $0
Read review For a detailed analysis of Admirals (Admiral Markets) services, check out our review for 2024

Recommended for forex and CFD traders who value easy account opening and free deposit/withdrawal options

Visit broker
74.32% of retail CFD accounts lose money

IC Markets snapshot
Minimum deposit $200
Mobile app score 3.3 stars
Deposit methods Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller, Visa Direct, SafeCharge, Transact365, eCommPay, CardPay, Bpay, FasaPay, Poli, RapidPay, Klarna
Withdrawal fee $0
Read review For a detailed analysis of IC Markets services, check out our review for 2024

Recommended for traders interested in social trading (i.e. copying other investors’ trades) and zero-commission stock trading

Visit broker
Your capital is at risk. Other fees apply. For more information, visit eToro.

eToro snapshot
Minimum deposit $10
Mobile app score 4.9 stars
Deposit methods Bank transfer, Credit/debit cards, eToro Money, Neteller, Skrill, Trustly, iDEAL, Przelewy 24, RapidTransfer, Klarna, Giropay
Withdrawal fee $5
Read review For a detailed analysis of eToro services, check out our review for 2024

Recommended for spread, forex and CFD traders looking for low fees and great deposit/withdrawal options

Visit broker
64% of retail CFD accounts lose money

Spreadex snapshot
Minimum deposit $0
Mobile app score 4.5 stars
Deposit methods Bank transfer, Credit/debit cards
Withdrawal fee $0
Read review For a detailed analysis of Spreadex services, check out our review for 2024

Recommended for forex traders who prefer the MetaTrader platform

Visit broker
74-89% of retail CFD accounts lose money

FXTRADING.com snapshot
Minimum deposit $200
Mobile app score 3.3 stars
Deposit methods Bank transfer, Credit/debit cards, PayPal, Neteller, UnionPay, Poli
Withdrawal fee $0
Read review For a detailed analysis of FXTRADING.com services, check out our review for 2024

Recommended for equity investors and CFD traders looking for easy-to-use trading platforms

Visit broker

Trading 212 snapshot
Minimum deposit $1
Mobile app score 4.9 stars
Deposit methods Bank transfer, Credit/debit cards, OnlineBankingPL, Giropay, Carte Bleue, Blik, Direct eBanking, Apple / Google Pay, PayPal, iDEAL
Withdrawal fee $0
Read review For a detailed analysis of Trading 212 services, check out our review for 2024

Recommended for forex and CFD traders looking for low forex fees and great research tools

Visit broker
69% of retail CFD accounts lose money

City Index snapshot
Minimum deposit $0
Mobile app score 4.5 stars
Deposit methods Bank transfer, Credit/debit cards, PayPal
Withdrawal fee $0
Read review For a detailed analysis of City Index services, check out our review for 2024

Recommended for forex traders looking for great account opening and customer service

Visit broker
74-89% of retail CFD accounts lose money

Pepperstone snapshot
Minimum deposit $0
Mobile app score 3.3 stars
Deposit methods Bank transfer, Credit/debit cards, POLi, BPay, PayPal, Neteller, Skrill, Union Pay, MPESA+FaceID
Withdrawal fee $0
Read review For a detailed analysis of Pepperstone services, check out our review for 2024

Didn't find the best broker for you?

Answer a few questions and get a personalized broker list!
Get a personalized broker recommendation
125,500 people already found a broker via this tool!

Your broker toplist will be selected based on your answers.

Where do you live?
More info

How did BrokerChooser select the best CFD brokers in the UK?

  • We checked whether the broker is regulated by a trusted regulator,
  • Compared fees (including spreads, withdrawal fee, commission),
  • Specifically compared CFD fees,
  • Looked at the range of CFDs available,
  • Opened an account and tested the platform (charting, features, usability) with real money.

Save hours of research!
Our expert team has done all the work for you, and reviewed brokers based on BrokerChooser's unique methodology

BrokerChooser evaluates 9 key areas for all brokers including fees, safety, ease of account opening, education, and trading platforms. We check more than 600 criteria for each broker and finetune our methodology every year based on our own and our users' experiences. We have more than 100 brokers reviewed on our site and our team of analysts examines more than 60,000 data points overall.

FAQ

What is CFD trading?

CFDs, short for Contracts for Difference, are derivative products used to speculate on the price movements of a wide range of underlying assets. A CFD is a contract between two parties under which the seller pays the buyer the difference between the current value of an asset and its value at the time the contract is due.

When trading CFDs, you speculate on whether the price of a financial asset (i.e. stock, bond, commodity, etc.) will go up or down, without actually buying the asset itself. Instead of buying a Vodafone stock, at a CFD broker you will bet on the direction you think the Vodafone stock will go. If your bet is right, you will make profit on your CFD trade.

CFDs are leveraged products meaning that you trade with your own money and the money you borrow from your broker. This makes CFD trading extremely risky and not suitable for beginners. A very high percentage of retail traders lose money when trading CFDs.

To better understand CFDs and the risk involved, read this article on CFD trading tips compiled by our team of experts.

What’s the difference between CFD trading and investing?

Both will allow you to take positions in financial markets with the aim of making a gain. The most important difference is that when you invest, you take ownership of the financial instrument, like a company’s share, while when you are trading CFDs you never own the underlying asset, you just speculate on its price movement.

The other difference is that investing usually has a long-term horizon, while CFD trading is short-term, positions are typically closed within the day. You get charged interest by your broker for holding your position overnight.

Also, CFs allow you to take a bet on rising (long position) as well as falling prices (short position.) When you invest in a security, you buy it (take a long position.)

With CFDs, you can also trade on margin (take advantage of leverage) offered by your broker, meaning that you can take a larger position than your initial deposit with the help of a loan from your broker. A word of warning: leverage can multiply your gains as well as your losses, so it involves a high risk of losing your capital.

Do I pay taxes on CFD profits in the UK?

UK retail traders do not need to pay stamp duty on CFD trades. However, they will need to pay capital gains tax after any profit they make on CFD trading.

What is the difference between spread betting and CFD trading?

The most important difference between spread betting and CFD trading is how they are taxed.

While both are exempt from stamp duty, spread betting is not subject to capital gains tax either but CFD trading is. If you make any profit on CFD trading, you will need to pay capital gains tax on your earnings above your capital gains tax allowance. At the same time, profits from CFD trading can be offset for tax purposes against any losses incurred in the same period.

Is CFD trading legal in the UK?

CFD trading is fully legal in the UK. The Financial Conduct Authority, which is the country’s financial markets regulator, imposed certain restrictions on CFD trading, including limiting leverage at a maximum of 30:1 and a ban on offering financial and non-financial incentives to clients to encourage them to trade more. Brokers working with UK traders are also required to offer negative balance protection.

Got questions?
Engage with our growing community of traders and investors like you to find your answers.
Join now

Author of this article

Krisztián Gátonyi

Forex • Market Analysis • Stock Market

I have 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager. I'm actively involved in reviewing the 100+ brokers listed on our site. I personally open accounts with real money, execute trades, test customer services. I hold an MSc in International Business from the University of Middlesex. My purpose is to help people find the best investment provider.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

Follow us

Regional settings

×
I'd like to trade with...