Your 2024 Guide to FCA Regulated Trading Brokers in the UK

Last Updated: 23/12/2024

The UK’s Leading Social Trading Platform

Regulation:
🛡️ FCA-Regulated

UK-Specific Features:
💷 GBP Trading Accounts Available
📊 Access to FTSE 100 Stocks and UK ETFs
🌍 Social Trading (Copy Top UK Traders)

Assets Offered:
💹 Stocks: Global shares, including UK-listed companies
📈 ETFs: Popular ETFs like Vanguard FTSE 100
₿ Cryptocurrencies: Bitcoin, Ethereum, Ripple, and more
🌐 Indices: FTSE 100, S&P 500, and other major indices
💰 Commodities: Gold, Oil, and Silver CFDs
💵 Currencies: GBP/USD, EUR/USD, and other major forex pairs

Fees Overview:
💵 Stock Trading: 0% Commission
💳 Currency Conversion Fee: 0.5% for Non-GBP Trades
🕒 Overnight Fees: Applicable for Leveraged Positions

Pros for UK Clients:
✔️ FCA-Regulated for Security
✔️ Tax-Free Spread Betting Option Available
✔️ Beginner-Friendly Platform

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% 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.

Simple and Intuitive CFD Trading for UK Clients

Regulation:
🛡️ FCA-Regulated

UK-Specific Features:
💷 GBP Trading Accounts and Local Customer Support
📉 Tax-Free Spread Betting for UK Residents
⚙️ Guaranteed Stop Loss for Risk Management

Assets Offered:
💹 Stocks: CFDs on UK and global shares, including FTSE 100 companies
📈 ETFs: Broad selection of ETF CFDs
🌐 Indices: FTSE 100, DAX, NASDAQ, and other major indices
💰 Commodities: Gold, Crude Oil, and Natural Gas CFDs
💵 Currencies: GBP/USD, EUR/USD, USD/JPY, and other forex pairs

Fees Overview:
💵 Spreads: Competitive market-based spreads
💳 Overnight Fees: Applicable for leveraged positions
🕒 Inactivity Fee: $10 per month after 3 months of inactivity

Pros for UK Clients:
✔️ FCA-Regulated and Secure
✔️ Tax-Free Spread Betting Option
✔️ Beginner-Friendly Platform with Simple Navigation

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% 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.

Commission-Free Trading for UK Investors

Regulation:
FCA-Regulated

UK-Specific Features:
GBP Trading Accounts with No Conversion Fees on Local Trades
Access to UK Shares and ETFs
Fractional Shares for Popular UK Stocks

Assets Offered:
Stocks: UK and global shares, including FTSE 100 companies
ETFs: Broad selection of UK-focused and global ETFs
Commodities: Gold, Oil, and Natural Gas CFDs
Currencies: GBP/USD, EUR/GBP, and other major forex pairs Indices: FTSE 100, DAX, NASDAQ, and other major indices

Fees Overview:
Stock and ETF Trading: 0% Commission
Currency Conversion Fee: 0.15% for Non-GBP Trades
No Inactivity Fees: Great for infrequent traders

Pros for UK Clients:
FCA-Regulated for Trust and Security
Commission-Free Stock and ETF Trading
Fractional Shares for Flexible Investing
Beginner-Friendly Interface

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.

A Trusted Broker with Advanced Features for UK Traders

Regulation:
FCA-Regulated (Founded in the UK, 1974)

UK-Specific Features:
Spread Betting (Tax-Free for UK Residents)
Access to FTSE 100 Stocks and UK ETFs
GBP Trading Accounts and Local Customer Support

Assets Offered:
Stocks: UK and global shares, including FTSE 100 companies
ETFs: A wide selection of UK and international ETFs
Indices: FTSE 100, DAX, NASDAQ, and other major indices
Commodities: Gold, Silver, Oil, and Natural Gas CFDs
Currencies: GBP/USD, EUR/GBP, and other major forex pairs

Fees Overview:
Spread Betting and CFDs: Competitive spreads on all markets
Stock Trading: Commission of £3 per trade for UK shares (when trading 3+ times per month)
Overnight Fees: Applicable for leveraged positions
Inactivity Fee: £12 per month after 2 years of inactivity

Pros for UK Clients:
FCA-Regulated and Highly Trusted
Tax-Free Spread Betting Option for UK Residents
Access to a Wide Range of Markets and Advanced Trading Tools
Award-Winning Mobile and Web Platforms

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts 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.

Award-Winning Trading Platform for UK Clients

Regulation:
🛡️ FCA-Regulated (Headquartered in the UK, Established 1989)

UK-Specific Features:
💷 Spread Betting (Tax-Free for UK Residents)
📊 Access to FTSE 100 Stocks, UK ETFs, and Bonds
🏛️ GBP Trading Accounts with Local Support
📱 Award-Winning Next Generation Trading Platform

Assets Offered:
💹 Stocks: UK and global shares, including FTSE 100 companies
📈 ETFs: A broad selection of UK and international ETFs
🌐 Indices: FTSE 100, S&P 500, NASDAQ, and other major indices
💰 Commodities: CFDs on Gold, Oil, Silver, and Natural Gas
💵 Currencies: GBP/USD, EUR/GBP, USD/JPY, and other major forex pairs
🏦 Bonds: UK government and corporate bond CFDs

Fees Overview:
💵 Spread Betting and CFDs: Competitive spreads across all markets
💳 Stock Trading: Commission starting from £10 per UK stock trade
🕒 Overnight Fees: Applicable for leveraged positions
🕒 Inactivity Fee: £10 per month after 12 months of inactivity

Pros for UK Clients:
✔️ FCA-Regulated and Secure with Over 30 Years of Experience
✔️ Tax-Free Spread Betting Option for UK Residents
✔️ Advanced and Customizable Next Generation Platform
✔️ Extensive Market Coverage, Including Bonds and UK-Specific Assets
✔️ Award-Winning Customer Support

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets, CFDs, OTC options or any of our other products work and whether you can afford to take the high risk of losing your money.

A Trusted Broker for UK Forex and CFD Traders

Regulation:
🛡️ FCA-Regulated (Established in 2007)

UK-Specific Features:
💷 GBP Trading Accounts Available
📊 Access to FTSE 100 and UK Market Instruments
📈 Spread Betting (Tax-Free for UK Residents)
🛠️ Advanced Tools, Including PsyQuation for AI-Based Analytics

Assets Offered:
💹 Forex: GBP/USD, EUR/GBP, and other major, minor, and exotic currency pairs
🌐 Indices: FTSE 100, NASDAQ, DAX, and other major indices
💰 Commodities: Gold, Silver, Oil, and more
📈 CFDs: Wide range of stock and ETF CFDs

Fees Overview:
💵 Spreads: Raw spreads starting from 0.0 pips (Raw Account)
💳 Commission: £2.75 per lot per side for Raw Accounts
🕒 Overnight Fees: Applicable for leveraged positions
🕒 No Inactivity Fees: Ideal for infrequent traders

Pros for UK Clients:
✔️ FCA-Regulated for Safety and Security
✔️ Low-Cost Trading with Competitive Spreads and Fees
✔️ Tax-Free Spread Betting Option for UK Residents
✔️ Access to Advanced Tools, Including PsyQuation and Autochartist
✔️ 24/5 Local Customer Support

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.4% 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.

What Is the FCA?

The Financial Conduct Authority (FCA) is the regulatory body responsible for overseeing financial markets and firms in the UK. Established in 2013, the FCA’s primary role is to:

Protect consumers by ensuring financial services are fair and transparent.
Maintain market integrity by enforcing strict rules for financial companies.
Promote competition among financial firms to benefit consumers.

The FCA sets high standards for brokers, ensuring they operate ethically and with the client’s best interests in mind.

Visit the FCA’s website

Benefits of Trading with an FCA-Regulated Broker

1. Enhanced Client Protection

FCA-regulated brokers must follow strict guidelines to safeguard traders:

Segregated Client Funds: Brokers must keep client funds separate from their operational accounts, ensuring your money is safe even if the broker faces financial difficulties.
Negative Balance Protection: Ensures you cannot lose more than your initial deposit, even in volatile markets.

2. Transparency and Fairness

FCA brokers must provide clear and accurate information about:

Fees, spreads, and commissions.
Risk warnings, particularly for high-risk products like CFDs.
Terms and conditions for trading and withdrawals.

3. Compensation Scheme

Traders are covered by the Financial Services Compensation Scheme (FSCS), which protects funds up to £85,000 in case of broker insolvency.

How FCA Regulation Differs from Other Regulators

While there are several global regulators, such as ASIC (Australia) and CySEC (Cyprus), the FCA is renowned for its stringent standards and robust enforcement.

Higher Standards: FCA brokers undergo regular audits and must meet strict capital requirements.
Stronger Consumer Focus: The FCA emphasizes clear risk disclosures and fair trading practices, making it a trader-focused regulator.

What to Look for in an FCA-Regulated Broker

When choosing an FCA-regulated broker, consider the following:

Regulation Confirmation: Verify the broker’s FCA license number on the FCA’s website.
Trading Costs: Check spreads, commissions, and any additional fees.
Available Platforms: Look for advanced platforms like MetaTrader 4, MetaTrader 5, or proprietary platforms.
Customer Support: Ensure the broker offers responsive and knowledgeable support.

eToro Review: A Detailed Guide for UK Traders in 2024

eToro is one of the most popular online brokers for UK traders, thanks to its innovative social trading features, diverse asset range, and user-friendly platform. With FCA regulation, zero commission on stocks, and access to over 3,000 financial instruments, eToro appeals to both beginner and experienced traders. Here’s an in-depth look at why eToro might be the right broker for you.

Regulation and Security

Trading with a regulated broker is essential for protecting your investments. eToro is a highly secure broker, regulated by multiple authorities globally, including the UK’s Financial Conduct Authority (FCA).

FCA Regulation: eToro is authorized by the FCA (FRN 583263), ensuring compliance with stringent UK standards.
Client Fund Protection:
- Segregated Accounts: Client funds are kept separate from eToro’s operational accounts.
- Negative Balance Protection: Retail traders cannot lose more than their initial deposit.
Compensation Scheme: UK traders are covered by the Financial Services Compensation Scheme (FSCS), which protects deposits up to £85,000 in the event of broker insolvency.

These measures make eToro a trustworthy choice for UK traders looking for a secure trading environment.

Trading Fees and Costs

Understanding eToro’s fee structure is crucial for optimizing your trading experience. Here’s a detailed breakdown:

Account Fees

Account Opening Fee: Free.
Withdrawal Fee: For withdrawals from GBP and EUR accounts to an external account, there is no fee.
For withdrawals from a USD investment account to external accounts, eToro charges a fixed $5 fee, to cover some of the expenses involved in international money transfers.
Minimum withdrawal amount: $30 from a USD account, and no minimum from GBP and EUR accounts.
Inactivity Fee: $10 per month after 12 months of no trading activity.
Stamp Duty Reserve Tax: UK traders are subject to a 0.5% stamp duty on the purchase of UK-listed stocks, as required by HMRC.

Trading Fees

Stocks and ETFs:
- Zero commission for buying and selling real stocks and ETFs (non-leveraged positions only).
- A $1 or $2 commission may apply to stock positions, depending on your location and stock exchange.
Spreads:
- Forex: Spreads start from 1 pip for major pairs like EUR/USD.
- Cryptocurrencies: A 1% fee is included in the displayed market price for buying and selling.
- Commodities and Indices: Competitive spreads (e.g., gold starts at 45 pips, FTSE 100 starts at 1 pip).
Overnight Fees:
- CFD positions held overnight incur fees based on the asset type and trade size.

Currency Conversion Fees

If you deposit or trade in a currency other than USD, currency conversion fees may apply. To minimize this, UK traders can deposit directly in GBP.

Trading Platforms

eToro’s proprietary platform is designed for ease of use, making it a favorite among beginner traders while still offering tools for advanced users.

Web Platform

User-Friendly Design: The platform is intuitive and streamlined, suitable for traders of all experience levels.
Advanced Features:
- Customizable watchlists for tracking your favorite assets.
- Technical analysis tools, including charting options and multiple time frames.
- Real-time market updates and price alerts.

Mobile App

eToro’s app is available for iOS and Android devices, offering seamless trading on the go.
Features include instant notifications, portfolio management, and full access to eToro’s social trading network.

Social Trading Features

eToro’s standout feature is its social trading capabilities, which allow users to connect, learn, and replicate the strategies of successful traders.

CopyTrader™

Enables you to automatically copy the trades of experienced traders with a proven track record.
Minimum amount to copy a trader: $200.
Ideal for beginners who want to leverage the expertise of seasoned investors.

CopyPortfolios™

Professionally managed portfolios that group assets or traders around a specific strategy or theme.
Examples include crypto-focused portfolios or portfolios tracking renewable energy stocks.
A great option for hands-off investing.

Social Network

A unique feature that allows traders to interact, share strategies, and discuss market trends directly on the platform.

Range of Tradable Assets

eToro provides access to over 3,000 tradable instruments, offering plenty of diversification opportunities for UK traders:

Stocks & ETFs: Trade shares from 17 global exchanges, including the London Stock Exchange, NASDAQ, and NYSE.
Forex: 49 currency pairs, including GBP/USD, EUR/GBP, and other majors, minors, and exotics.
Cryptocurrencies: Over 100 crypto assets, including Bitcoin, Ethereum, Ripple, and newer coins like Solana and Polkadot.
Commodities: Access to gold, silver, oil, and agricultural products.
Indices: Trade global indices such as the FTSE 100, S&P 500, and Nikkei 225.

Account Types

eToro offers a variety of account options to cater to different trading needs:

Retail Account:
- Suitable for most traders.
- Includes negative balance protection and access to social trading features.
Professional Account:
- Offers higher leverage but requires meeting eligibility criteria (e.g., trading experience and portfolio size).
Demo Account:
- Includes $100,000 in virtual funds for risk-free practice and strategy testing.

Customer Support

eToro provides responsive support, ensuring traders can resolve issues quickly:

Live Chat: Accessible via the platform for real-time assistance.
Help Centre: Comprehensive FAQs and resources to guide users.
Languages: Support available in multiple languages, including English for UK traders.

Pros and Cons of eToro

Pros

FCA-regulated with high-security standards.
Zero commission on stocks and ETFs.
Industry-leading social trading features.
Wide range of tradable assets.

Cons

Spreads can be higher than some competitors.
$5 withdrawal fee and inactivity fees may deter low-volume traders.
Limited customization compared to platforms like MT4 or MT5.

Is eToro Right for UK Traders?

eToro stands out as a versatile platform for UK traders, especially for those interested in social trading or commission-free stock investing. With FCA regulation, competitive fees, and a user-friendly interface, it’s an excellent choice for beginners and experienced traders alike. However, if you’re a high-frequency forex trader, you might find its spreads slightly higher than those of dedicated forex brokers.

Risk Disclaimer

Plus500 Review: A Detailed Guide for UK Traders in 2024

Plus500 is a leading online trading platform, renowned for its user-friendly interface and comprehensive range of Contracts for Difference (CFDs). Regulated by the FCA, Plus500 provides a secure environment for UK traders while offering competitive spreads, zero commissions, and a robust proprietary trading platform. Here’s an in-depth look at what Plus500 offers UK traders in 2024.

Regulation and Security

For UK traders, regulatory compliance is critical, and Plus500 delivers with its strong adherence to financial standards:

FCA Regulation: Plus500UK Ltd is authorized and regulated by the Financial Conduct Authority (FCA) under FRN 509909.
Client Fund Protection:
- Segregated Accounts: Client funds are held separately from company funds, ensuring added security.
- Negative Balance Protection: Prevents traders from losing more than their deposited funds.
Compensation Scheme: UK traders are covered by the Financial Services Compensation Scheme (FSCS), which protects up to £85,000 in case of insolvency.

These features ensure that UK traders can trade with confidence on Plus500.

Trading Fees and Costs

Plus500 is transparent about its fees, with no hidden charges and a competitive structure for CFD trading.

Trading Fees

Spreads Only: Plus500 does not charge commissions. Trading costs are included in the spread.
- Forex: Spreads start as low as 0.6 pips for major pairs like EUR/USD.
- Indices: FTSE 100 spreads start at 1 pip.
- Commodities: Gold spreads start at 0.3% of the market price.
Overnight Fees: Positions held open after market close incur overnight funding charges, which vary depending on the instrument.
Currency Conversion Fee: A 0.7% fee applies to trades involving instruments in a currency different from the account currency.

Non-Trading Fees

Inactivity Fee: Plus500 charges $10 per month if no login activity occurs for three consecutive months. This fee is deducted from available funds and does not result in a negative balance.
Deposit and Withdrawal Fees: Plus500 does not charge for deposits or withdrawals, although third-party fees may apply.

Trading Platforms

Plus500’s proprietary platform is tailored for simplicity and efficiency, making it an excellent choice for traders of all levels.

Web Platform

User-Friendly Interface: The platform is intuitive, offering easy navigation for new traders and advanced tools for experienced users.
Features:
- Real-time price updates and advanced charting tools.
- Risk management options, including stop-loss, take-profit, and guaranteed stop orders.
- Customizable layouts for tailored trading experiences.

Mobile App

Fully functional mobile trading is available on iOS and Android devices.
Features include real-time alerts, advanced charting, and instant notifications for position updates.

Range of Tradable Assets

Plus500 specializes in CFD trading and offers a wide variety of instruments:

Forex: Over 70 currency pairs, including GBP/USD and EUR/GBP.
Shares: CFDs on global shares from major markets such as the UK, US, and Europe.
Indices: Access to popular indices, including the FTSE 100, S&P 500, and DAX 40.
Commodities: CFDs on gold, silver, crude oil, and agricultural products.
ETFs: Trade CFDs on exchange-traded funds for diversified exposure.
Options: CFD trading on options for additional market opportunities.

Account Types

Plus500 keeps things simple with its account offerings:

Retail Account: Provides access to all trading instruments, with standard leverage and negative balance protection.
Professional Account: Designed for experienced traders who meet specific eligibility criteria, offering higher leverage options.
Demo Account: Free, unlimited demo account with virtual funds for practice and strategy development.

Customer Support

Plus500 offers responsive customer support to address any trading-related queries:

24/7 Live Chat: Accessible directly from the platform.
Help Centre: Comprehensive FAQ section covering platform usage, fees, and trading tools.
Languages: Support available in multiple languages, including English for UK traders.

Pros and Cons of Plus500

Pros

FCA-regulated, providing a secure and trustworthy trading environment.
No commissions; costs are included in spreads.
Wide range of tradable CFDs across multiple asset classes.
User-friendly proprietary platform with advanced risk management tools.
Zero deposit and withdrawal fees.

Cons

Inactivity fee applies after three months of no login activity.
Limited to CFD trading; no access to underlying assets.
Overnight fees can accumulate for long-term positions.

Is Plus500 Right for UK Traders?

Plus500 is an excellent choice for UK traders interested in CFD trading, offering a secure, regulated environment and a wide range of instruments. The platform’s simplicity and transparency make it appealing to beginners, while its advanced tools cater to experienced traders. However, traders should consider the potential impact of overnight fees and inactivity charges, especially for infrequent or long-term positions.

Risk Disclaimer

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% 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.

Trading 212 Review: A Detailed Guide for UK Traders in 2024

Trading 212 has emerged as a favorite for UK traders, thanks to its commission-free trading, user-friendly platform, and innovative features like fractional shares. With FCA regulation and a focus on simplicity, Trading 212 is a versatile option for both beginners and experienced investors. Here’s a detailed review of what Trading 212 offers UK traders in 2024.

Regulation and Security

Trading 212 ensures a secure trading environment, meeting stringent regulatory requirements:

FCA Regulation: Trading 212 UK Ltd is authorized and regulated by the Financial Conduct Authority (FCA) under FRN 609146.
Client Fund Protection:
- Segregated Accounts: Client funds are held in separate accounts to ensure added security.
- Negative Balance Protection: Ensures that retail clients cannot lose more than their deposited funds.
Investor Compensation Scheme: Covered by the FSCS, protecting up to £85,000 in the event of broker insolvency.

These measures make Trading 212 a trusted choice for UK traders.

Trading Fees and Costs

Trading 212 is known for its transparent, low-cost structure, making it accessible to a wide range of traders.

Trading Fees

Stocks and ETFs:
- Zero commission on real stock and ETF trades.
- No inactivity fees, making it ideal for long-term investors.
CFDs:
- Competitive spreads on forex, commodities, and indices.
- No additional commission on CFD trades.
Forex: Spreads start at 0.8 pips for major pairs like GBP/USD.
Fractional Shares:
- Buy and sell fractional shares with as little as £1.

Non-Trading Fees

Deposit Fees: Free for payments via bank transfer. Deposits made via credit/debit card or third-party providers may incur fees based on the payment method.
Currency Conversion Fee: A 0.15% fee applies to transactions involving currencies other than the account base currency.

Trading Platforms

Trading 212’s proprietary platform is designed to be intuitive and feature-rich, catering to both new and experienced traders.

Web Platform

Clean Interface: Simplified design with straightforward navigation.
Key Features:
- Real-time market data and advanced charting tools.
- Risk management features, including stop-loss and take-profit orders.
- Instant execution and one-click trading for fast-paced markets.

Mobile App

Award-Winning App: Trading 212’s mobile app, available for iOS and Android, is highly rated for its functionality and ease of use.
Features include real-time notifications, customizable watchlists, and full portfolio management.

Range of Tradable Assets

Trading 212 offers a diverse range of instruments, suitable for traders and investors alike:

Stocks & ETFs: Access over 10,000 stocks and ETFs from global markets, including the London Stock Exchange and NASDAQ.
Forex: Over 150 currency pairs, including GBP/USD and EUR/GBP.
Commodities: CFDs on gold, silver, oil, and other commodities.
Indices: CFDs on major indices such as the FTSE 100, S&P 500, and DAX 40.

Account Types

Trading 212 offers a range of account types tailored to different trading needs:

Invest Account: Designed for commission-free investing in stocks and ETFs.
ISA Account: Tax-efficient account allowing UK residents to invest in stocks and ETFs without paying capital gains tax (up to the annual ISA allowance).
CFD Account: For trading contracts for difference with access to leverage and advanced tools.
Demo Account: Free and unlimited demo account with virtual funds for practice and strategy testing.

Customer Support

Trading 212 provides reliable support to ensure smooth trading experiences:

Help Centre: Comprehensive FAQ section covering account management, trading tools, and fees.
Live Chat: Available via the platform for real-time assistance.
Languages: Multilingual support, including English for UK clients.

Pros and Cons of Trading 212

Pros

FCA-regulated, ensuring a safe and secure trading environment.
Commission-free trading on stocks and ETFs.
Access to fractional shares for as little as £1.
User-friendly platform with advanced features for experienced traders.
Tax-efficient ISA accounts for UK residents.

Cons

Limited access to advanced trading tools compared to platforms like MT4 or MT5.
Currency conversion fees apply to non-base currency transactions.

Is Trading 212 Right for UK Traders?

Trading 212 is an excellent choice for UK traders seeking a simple, low-cost trading platform. Its commission-free structure, fractional shares, and tax-efficient ISA accounts make it ideal for long-term investors and beginners. While its CFD offerings are competitive, traders seeking advanced tools or specialized platforms may prefer alternatives.

Risk Disclaimer

IG Review: A Comprehensive Guide for UK Traders in 2024

IG is one of the most established online brokers in the UK, offering access to over 17,000 markets, advanced trading tools, and spread betting services. With FCA regulation, competitive fees, and a variety of platforms, IG caters to both beginner and experienced traders. Here’s a detailed review of IG for UK traders in 2024.

Regulation and Security

IG provides a secure and regulated trading environment, adhering to stringent UK financial regulations:

FCA Regulation: IG Markets Ltd and IG Index Ltd are authorized and regulated by the Financial Conduct Authority (FCA) under FRN 195355 and FRN 114059, respectively.
Client Fund Protection:
- Segregated Accounts: Client funds are held in separate accounts from IG’s operational funds, ensuring added security.
- Negative Balance Protection: Retail clients cannot lose more than their initial deposit.
Investor Compensation Scheme: Eligible UK clients are covered by the Financial Services Compensation Scheme (FSCS), which protects up to £85,000 in case of broker insolvency.

Trading Fees and Costs

IG offers a transparent fee structure that suits a wide range of trading styles.

Share Dealing Fees

UK Shares:
- £8 per trade for clients executing 0-2 trades in the previous month.
- £3 per trade for clients executing 3+ trades in the previous month.
US Shares:
- Zero commission for clients executing 3+ trades in the previous month.
- £10 per trade for clients executing 0-2 trades in the previous month.
Currency Conversion Fee: A 0.5% fee applies to trades in foreign-denominated securities.

Spread Betting Fees

Spread betting is a tax-efficient way to trade in the UK, offering flexibility and competitive costs:

No Capital Gains Tax or Stamp Duty: Profits from spread betting are free from UK capital gains tax and stamp duty.*
Spreads: Competitive spreads on forex, indices, commodities, and shares:
- Forex spreads start at 0.6 pips for major pairs like EUR/USD.
- FTSE 100 spreads start from 1 point.
- Gold spreads start from 0.3 points.
Overnight Funding: Positions held overnight incur a small funding fee based on the size and duration of the position.

*Tax treatment depends on individual circumstances and may change in the future.

CFD Fees

Spreads: Included in trading costs, similar to spread betting.
Overnight Fees: Positions held overnight incur funding charges, varying by instrument and position size.

Non-Trading Fees

Inactivity Fee: £12 per month after 24 months of inactivity.

Trading Platforms

IG offers a range of platforms tailored to different trading needs, including support for spread betting.

Web Trading Platform

User-Friendly Design: Intuitive and customizable layout.
Key Features:
- Access to spread betting, CFD trading, and share dealing.
- Advanced charting tools and risk management features like guaranteed stop-loss orders.
- Integrated real-time news and market analysis.

Mobile App

Available on iOS and Android, offering seamless trading on the go.
Includes real-time alerts, customizable watchlists, and portfolio management.

MetaTrader 4 (MT4)

Advanced Tools: Ideal for algorithmic trading and advanced technical analysis.
Includes support for Expert Advisors (EAs) and custom indicators.

Range of Tradable Assets

IG offers one of the most comprehensive ranges of assets in the market, all available for spread betting:

Shares: Over 13,000 shares from global markets, including the UK, US, and Europe.
Forex: More than 80 currency pairs, including GBP/USD and EUR/GBP.
Indices: Popular indices like FTSE 100, S&P 500, and DAX 40.
Commodities: Access to gold, oil, agricultural products, and more.

Account Types

IG provides various account types to suit different trading and investing goals:

Spread Betting Account: A tax-efficient account for UK traders, enabling spread betting on forex, indices, commodities, and more.
Share Dealing Account: Ideal for trading stocks and ETFs with competitive commissions.
Stocks and Shares ISA: Tax-efficient investing for UK residents, allowing capital gains and dividends to be earned tax-free within annual ISA limits.
CFD Account: Enables leveraged trading on a wide range of markets.
Demo Account: Free, unlimited demo account with virtual funds for practice and strategy development.

Customer Support

IG offers robust customer support to assist traders with any issues:

24/5 Live Chat and Phone Support: Available during market hours.
Help Centre: Comprehensive FAQ section and platform tutorials.
Languages: Multilingual support, including English for UK traders.

Pros and Cons of IG

Pros

FCA-regulated, ensuring a secure trading environment.
Wide range of markets, including over 13,000 shares and 80 forex pairs.
Tax-efficient spread betting and ISA accounts for UK residents.
Advanced trading platforms, including MT4 support.
Competitive spreads and transparent fee structure.

Cons

Inactivity fee applies after 24 months of no activity.
Overnight fees can accumulate for long-term CFD or spread betting positions.
Commission charges for UK share trading if less active.

Is IG Right for UK Traders?

IG is an excellent choice for UK traders seeking access to a diverse range of markets, advanced trading tools, and tax-efficient spread betting options. With FCA regulation, competitive fees, and intuitive platforms, IG caters to both beginners and experienced traders. However, traders focusing on long-term positions should be mindful of overnight fees, and infrequent stock traders may find lower-cost alternatives.

Risk Disclaimer

CMC Markets Review: A Comprehensive Guide for UK Traders in 2024

CMC Markets is a leading UK-based broker, offering an extensive range of trading instruments, including forex, CFDs, and spread betting. Renowned for its award-winning trading platform and competitive fees, CMC Markets caters to both beginner and professional traders. Here’s a detailed review of what CMC Markets offers UK traders in 2024.

Regulation and Security

CMC Markets provides a secure and regulated trading environment, adhering to stringent UK financial regulations:

FCA Regulation: CMC Markets UK plc is authorized and regulated by the Financial Conduct Authority (FCA) under registration number 173730.
Client Fund Protection:
- Segregated Accounts: Client funds are held in separate accounts, ensuring they are not used for company operations.
- Negative Balance Protection: Retail clients cannot lose more than their deposited funds.
Investor Compensation Scheme: Eligible clients are protected by the Financial Services Compensation Scheme (FSCS), covering up to £85,000 in case of broker insolvency.

Trading Fees and Costs

CMC Markets is known for its transparent and competitive fee structure.

Forex and CFD Fees

Forex Fees: Spreads start as low as 0.5 pips for major currency pairs like EUR/USD.
Index CFD Fees: Spreads for indices such as the S&P 500 start from 0.5 points.
Stock CFD Fees: Commission for stock CFDs is $0.02 per share, with a minimum commission of $10.

Spread Betting Fees

Spread betting is a tax-efficient trading option for UK traders:

Forex Spreads: Start from 0.5 pips on major pairs like GBP/USD.
Index Spreads: Start at 1 point for the FTSE 100.
No Commission: Costs are integrated into the spreads.
Tax Efficiency: Spread betting is exempt from UK capital gains tax and stamp duty (tax treatment depends on individual circumstances and may change).

Non-Trading Fees

Inactivity Fee: £10 per month after 12 months of inactivity.

Trading Platforms

CMC Markets offers a state-of-the-art platform that meets the needs of all trading levels:

Next Generation Platform

Advanced Features:
- Over 115 technical indicators and drawing tools for in-depth analysis.
- Price projection tools for forecasting market trends.
- Customizable layouts to suit individual trading preferences.
Web-Based and Mobile:
- Fully responsive design for desktops, tablets, and mobile devices.
- Seamless trading on the go with real-time notifications and alerts.

MetaTrader 4 (MT4)

Advanced Trading Tools: Includes algorithmic trading, Expert Advisors (EAs), and customizable indicators.
Suitable for traders looking for automation and advanced technical analysis.

Range of Tradable Assets

CMC Markets provides access to a wide variety of instruments, catering to diverse trading strategies:

Forex: Over 330 currency pairs, including GBP/USD, EUR/GBP, and exotics.
Indices: Trade major global indices like the FTSE 100, S&P 500, and DAX 40.
Commodities: Access gold, silver, oil, and agricultural products.
Shares: Thousands of share CFDs from major global exchanges.
Treasuries: Trade on government bonds such as UK Gilts and US Treasury Notes.

Account Types

CMC Markets offers a range of account options to suit different trading needs:

Spread Betting Account: Designed for tax-efficient trading on forex, indices, commodities, and more.
CFD Account: Offers leveraged trading across a wide range of instruments.
Professional Account: Provides higher leverage for eligible traders meeting specific criteria.
Demo Account: Free, unlimited practice account with virtual funds to refine trading strategies.

Customer Support

CMC Markets is committed to providing excellent customer service:

24/5 Support: Available via phone, live chat, and email during market hours.
Educational Resources: Comprehensive trading guides, webinars, and market analysis to enhance trader knowledge.
Help Centre: Detailed FAQs and tutorials for platform navigation and troubleshooting.

Pros and Cons of CMC Markets

Pros

FCA-regulated with strong security measures.
Competitive spreads, especially for forex and indices.
Advanced trading platform with cutting-edge tools and features.
Wide range of tradable assets, including over 330 forex pairs.
Tax-efficient spread betting options for UK traders.

Cons

Inactivity fee after 12 months of no account activity.
Overnight funding fees can add up for long-term CFD positions.

Is CMC Markets Right for UK Traders?

CMC Markets is an excellent choice for UK traders seeking a robust and feature-rich platform. With FCA regulation, competitive fees, and a diverse range of assets, CMC Markets caters to both beginners and experienced traders. The Next Generation platform stands out for its advanced tools, making it ideal for technical analysis enthusiasts. However, traders should consider overnight fees and the inactivity fee if they plan to trade less frequently.

Risk Disclaimer

Axi Review: A Comprehensive Guide for UK Traders in 2024

Axi is a globally recognized online forex and CFD broker, offering a range of trading instruments and services tailored to both novice and experienced traders. With FCA regulation and competitive trading conditions, Axi is a reliable choice for UK traders. Here’s a detailed review of Axi’s offerings in 2024.

Regulation and Security

Axi provides a secure and regulated trading environment, adhering to stringent UK financial regulations:

FCA Regulation: Axi Financial Services (UK) Limited is authorized and regulated by the Financial Conduct Authority (FCA) under license number 466201.
Client Fund Protection:
- Segregated Accounts: Client funds are held in separate accounts to ensure they are not used for company operations.
- Negative Balance Protection: Retail clients cannot lose more than their deposited funds.
Investor Compensation Scheme: Eligible UK clients are protected by the Financial Services Compensation Scheme (FSCS), covering up to £85,000 in case of broker insolvency.

Trading Fees and Costs

Axi offers a transparent and competitive fee structure that appeals to a broad spectrum of traders.

Forex and CFD Fees

Forex Fees: Spreads start as low as 0.2 pips for major currency pairs like EUR/USD (Pro Account).
Index CFD Fees: Spreads for major indices, such as the S&P 500, start from 0.5 points.
Stock CFD Fees: Commission for stock CFDs is $0.02 per share, with a minimum commission of $10.

Non-Trading Fees

Inactivity Fee: Axi charges a $10 monthly inactivity fee on accounts with no trading activity for 12 months.
Deposit and Withdrawal Fees: Deposits and withdrawals are generally free. However, a 3% fee applies to card payments exceeding $50,000 in monthly deposits.

Trading Platforms

Axi utilizes the industry-leading MetaTrader 4 (MT4) platform, providing a robust and user-friendly trading experience.

MetaTrader 4 (MT4)

Advanced Features:
- Over 50 technical indicators and customizable charting tools.
- Support for automated trading strategies using Expert Advisors (EAs).
- Customizable interface to suit individual trading preferences.
Accessibility:
- Available on desktop, web, and mobile devices (iOS and Android) for seamless trading across devices.
Additional Tools:
- Access to Autochartist for advanced market analysis.
- PsyQuation Premium for performance analytics and trading insights.

Range of Tradable Assets

Axi offers a diverse selection of trading instruments, allowing traders to diversify their portfolios:

Forex: Over 70 currency pairs, including majors, minors, and exotics.
Indices: Trade major global indices like the FTSE 100, S&P 500, and DAX 30.
Commodities: Access precious metals like gold and silver, along with energy products like oil and natural gas.

Account Types

Axi provides multiple account options to suit various trading needs:

Standard Account:
- No minimum deposit requirement.
- Spreads starting from 0.4 pips.
- No commission fees.
Pro Account:
- No minimum deposit requirement.
- Spreads starting from 0.0 pips.
- Commission of $7 per lot round trip.
Elite Account:
- Minimum deposit of $25,000.
- Spreads starting from 0.0 pips.
- Commission of $3.50 per lot per side.
- Exclusive market analysis and indicators.
Islamic Account:
- Swap-free account adhering to Islamic principles.
- Available upon request.
Demo Account:
- Free, unlimited demo account with virtual funds for practice and strategy development.

Customer Support

Axi is dedicated to providing excellent customer service:

24/5 Support: Available via phone, live chat, and email during trading hours.
Educational Resources:
- Comprehensive trading guides and tutorials.
- Regular market analysis and webinars to enhance trader knowledge.

Pros and Cons of Axi

Pros

FCA-regulated with robust client fund protection measures.
Competitive spreads and no commission fees for Standard Accounts.
Industry-leading MT4 platform with advanced tools and features.
Free deposits and withdrawals for most payment methods.
Access to additional tools like Autochartist and PsyQuation.

Cons

Inactivity fee after 12 months of no trading activity.
Limited trading instruments compared to some competitors.

Is Axi Right for UK Traders?

Axi is an excellent choice for UK traders seeking a regulated broker with competitive fees and access to the MT4 platform. The broker’s focus on forex and CFDs makes it ideal for traders who value low spreads and advanced trading tools. However, traders seeking a broader range of instruments, such as individual shares or ETFs, might prefer alternatives.

Risk Disclaimer

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.4% of retail investor accounts lose money when trading 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.