CFD Trading Platforms UK 2023 – Cheapest Platform Reviewed
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If you are a UK trader that is looking to trade the financial markets online, then you are going to need a reputable and reliable CFD trading platform.
Many CFD trading platforms in the UK offer low trading fees, a large range of available markets to trade, quality customer support, and tight regulation by the FCA in the UK.
In this in-depth guide, we review different CFD trading platforms in the UK as well as some alternatives.
UK CFD Trading Platform List
We’ll review various CFD trading platforms in the UK in full further down this page, but if you’re looking for a quick summary, check out the list of UK platforms below.
*not available for existing ECN clients, other fees may apply.
CFD Brokers in the UK Reviewed
Let’s now take a more detailed look at the UK’s CFD trading platforms for 2023.
AvaTrade
AvaTrade is a well-known broker that offers Contracts for Difference (CFD) trading on a wide range of financial instruments, including forex, stocks, commodities, and cryptocurrencies. CFD trading with AvaTrade allows traders to speculate on price movements without actually owning the underlying asset. This means that traders can go long or short on an asset, depending on their market outlook.
AvaTrade provides its clients with a variety of trading platforms, including the popular MetaTrader 4 and AvaTradeGO, both of which offer advanced charting tools and technical indicators. The broker also provides traders with access to educational resources, such as webinars and trading guides, to help them make informed trading decisions. Moreover, AvaTrade offers competitive trading conditions, such as tight spreads, high leverage, and no hidden fees, making CFD trading with AvaTrade a compelling choice for traders of all levels of experience.
One of the benefits of CFD trading with AvaTrade is that traders can enjoy flexible trading conditions, with the ability to open and close positions quickly and easily. The broker offers competitive spreads on a wide range of instruments, which allows traders to keep their trading costs low. Additionally, AvaTrade provides its clients with high leverage ratios, which means that traders can increase their trading power and potentially boost their profits.
However, it’s important to remember that trading with high leverage can also increase the risk of losses, and traders should always exercise caution when using leverage. AvaTrade also offers risk management tools, such as stop-loss orders and trailing stops, which can help traders manage their risk effectively.
Your money is at risk.
eToro
eToro has a wide offering for every type of trader.
Whilst you can trade yourself on their CFD platform, eToro is also a social trading platform where you can also copy other professional traders.
eToro have a range of products to suit all styles and trading strategies. One of the main reasons they have become popular is because of their copy trading feature. This feature allows you to trade without having to make any trades yourself.
If you are looking to become a copytrader with eToro you can use their in-depth statistics that will help find profitable traders in the past 12 months. You will then be able to copy their trades on the same markets that they are watching.
eToro offer their own online CFD trading platform. It is available to use and trade on both desktop and mobile and allows you to quickly make and manage your trades. The eToro CFD platform lets you quickly see your risk and the exact amounts you will profit or could potentially lose if the trade goes against you which is a very useful feature.
An extensive range of markets can be traded on the eToro CFD platform from ETF’s, cryptocurrencies, Forex, indices, oil, Gold, Silver, and thousands of different stocks.
All of these markets can also be traded commission-free. The way eToro makes money is through the spread they charge and they do not add on any extra fees. They also do not have any account maintenance fees.
eToro is strictly regulated and this includes being regulated by the FCA in the UK. It also carries other tier-one licences throughout the world making it a very tightly regulated CFD provider.
This is one of the cheapest CFD trading platforms that allows you to use up to 30:1 leverage in the UK. It is simple to use and has a range of deposit and withdrawal options that include e-wallet, bank transfers, and debit cards.
eToro has a well-rounded offering with the UK trading platform.
79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. |
XTB
As an award-winning broker specializing in CFDs and forex, XTB has been in business online since 2002. There has been a significant reputation earned by this company over the past decades, especially when it comes to investment in forex by retail clients.
As a CFD broker, it is best known for its technologically advanced trading platform known as the “xStation 5”, which has a large number of features that make it easy to use, as well as providing access to research and trading tools, as well as advanced features for experienced traders. You can find all the essential features of any financial service, such as a news service and an economic calendar.
Furthermore, XTB is a highly specialized brokerage firm that offers its clients a wide range of trading instruments such as stocks, commodities, metals, indices, and cryptocurrencies, as well as an interface with a high level of user-friendliness and competence in a highly specialized industry.
When protecting users’ information, XTB follows a strict set of standards. XTB places high importance on the platform’s encryption and the security of clients’ funds. Due to this, all client funds for traders are kept in segregated bank accounts at all times to assure that the client funds are secure.
XTB is regulated by the Financial Conduct Authority (FCA). Moreover, with an XTB account, you can deposit and withdraw funds quickly and easily. Bank transfers, credit cards, and e-wallets are some methods by which users can make payments.
79% of retail investor accounts lose money when trading CFDs with this provider.
Alvexo
Alvexo
is a regulated online broker offering a wide range of products such as CFD on Commodities, Indices, Stocks and ETFs to over 650,000 traders worldwide. The company prides itself on being a “real broker for real traders.”
As a market veteran-founded company in 2014, Alvexo offers a selection of intuitive trading platforms that provide real-time buy and sell quotes on over 450 assets. In addition, several trading tools are available to assist with market analysis.
For all traders, Alvexo is known for its education and service-oriented approach to trading. In addition to daily signals and market analysis, Alvexo clients have access to a wide range of economic News and a trading academy, as well as webinars and seminars.
Alvexo fees:
| Fee | Amount |
| Stock trading fee | Variable Spreads |
| Forex trading fee | Variable spreads. 2.9% for EUR/USD on its Classic account |
| Inactivity fee | $10 per month after three months |
| Withdrawal fee | Free |
76.22% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Libertex
Libertex is another broker that made the cut because of its strong reputation. Libertex was established in 1997 and has a huge 2.2 million customers all around the world.
Libertex has a very strong reputation and has been granted 30 international awards. This is also a broker that offers some of the lowest fees of any broker.
This broker is regulated by CySec, the Cyprus Securities and Exchange Commission in Cyprus and the FSCA, South African Financial Sector Conduct in South Africa.
Note: Libertex does not accept some countries and these include; USA, Japan, Brazil, and the European Union.
Libertex offers trading on a large range of markets. These include Forex, stocks, ETFs, indices, and commodities such as oil, gas, wheat, soybeans, coffee, palladium, silver, gold, and many more. Libertex also offers many forms of cryptocurrency, making it an Ethereum trading platform.
When opening an account and trading with Libertex you will get access to over 80 currency pairs from all the majors right through to the cross and exotic pairs.
Libertex off you a solid amount of cryptos that you can trade that include the well-known Bitcoin, Litecoin, Ethereum, XRP and they also include the less commonly know and traded Tezos, Cosmos, Ontology, and Maker.
If you are a trader that likes to use more advanced strategies then this platform and broker may be for you. Libertex allows scalping, indicators, hedging, and also serves as an automated trading platform.
A key reason that Libertex is one of the more popular brokers is that they offer maximum leverage up to 500:1. For more advanced traders who have a handle on leverage, this can be very useful.
Libertex is well known for its customer support and they offer live chat, email, and a comprehensive FAQ section.
Libertex has three CFD platforms you can choose from. These include; MetaTrader 4, MetaTrader 5, and their own platform called LiberTex.
Your capital is at risk.
73.81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Skilling
Skilling is a UK CFD and forex trading platform that offers a very extensive range of financial markets to trade.
Skilling has a wide range of platforms for you to use including MT4, cTrader, and Skilling Trader. Skilling Trader is Skilling’s very own platform and it is designed for beginners to be able to quickly and start trading.
Once logged into the Skilling Trader CFD platform you will find that being able to make a deposit, enter and manage trades and see all of your account history is very straightforward.
Skilling is a CFD provider and does not deal in physical assets. This is useful for the retail trader and market speculator who are looking to profit from the many different markets moving both higher and lower.
Skilling offers a huge range of markets for you to trade and they include Forex, crypto, commodities, shares, and indices.
If you are concerned with trading costs, then this is one of the lowest costs brokers around. Skilling trading costs start from 0.0 commissions. On markets such as Forex, you will find very low spreads that will often start from as little as 0.1 pip.
Skilling is regulated in Cyprus through CySec and also has full authorisation in the UK through the FCA to accept clients from the UK.
The minimum deposit to get started is only £100 making it one of the lowest first deposit brokers getting around today.
Because of how quick it is to open an account, the very small trading costs, the tight regulation, and the huge range of markets to trade, Skilling has quickly become a very popular broker for new and experienced traders alike.
Your capital is at risk.
75% of retail investor accounts lose money when trading CFDs with this provider.
IG Markets
IG Markets is a truly global broker that has been a very dominant force in the finance and CFD space for many years.
IG Markets was founded in 1974 making it one of the oldest brokers in the market today. Whilst many CFD brokers have come and gone, IG Markets continue to offer their products all over the world.
IG Markets in many different jurisdictions including under their one regulators. These include the FCA in the UK, the CFTC in the US, and ASIC in Australia.
After signing up to IG you gain access to their extensive range of CFD trading platforms. These include; Metatrader, IG’s own platform, and also ProRealTime.
One of the reasons so many traders choose this broker all over the world is because of the endless amount of trading opportunities they offer you.
Believe it or not, IG Markets offer trading on over 17,000 markets. Their range of markets includes everything from; Forex, indices, shares, cryptocurrencies, ETF’s and commodities. If you are in the UK you also have access to the spread betting platform.
Because of the huge range of products, global regulation, customer support, and industry-leading trading platforms, IG Markets are one of the popular CFD providers in the UK.
Your capital is at risk.
75% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
CFD Trading Platform UK Fees Comparison
Wondering how the UK’s CFD brokers compare in terms of fees? Look no further. As many CFD trading platforms have dynamic spreads, we’ve shown you fee fees for popular assets like Amazon and the GBP/USD forex pair to give you an idea of the cheapest CFD brokers with the lowest fees.
| Trading Platform Fees | Spread or commission? | Amazon | GBP/USD | Overnight fees |
| eToro | Spread | 0.09% (applies to all stocks) | 2 pips | Yes. Overnight fees for all CFD instruments. |
| Libertex | Commission | 0.034% | 0.008% | Yes. Taken at end of each trading day at 9 pm GMT as interest, which may be positive or negative. For CFDs, the overnight fee is triple when holding from Friday to Monday. |
| Plus500 | Spread | 23.51 pips | 1.3 pips | Yes. Applies to all instruments. |
| Skilling | Spread | 22.81 pips | 1.3 pips | No overnight fees for stocks. For other assets, the overnight fee is taken at end of each trading day at 9 pm GMT as interest, which may be positive or negative. |
| IG | Commission for stocks, spread for other assets | 2 cents per share for all US stocks, 0.10% for all UK and EU stocks | 1.4 pips | Yes. Applies to forex, stocks, commodities, and indices. |
How to Choose a CFD Broker in the UK
As you can see from our detailed reviews, there is a lot of competition and a lot of options when looking for a CFD trading platform in the UK.
With that said, you should keep in mind some of the important criteria when choosing your broker and trading platform. The broker and CFD trading platform you decide to trade with will be a huge factor in your trading success or failure.
Whilst some factors are important with whatever broker you use such as regulation and solid deposit and withdrawal methods, you will have to factor in the type of trader you are and the type of broker you need.
For example; if you are a scalper you will be suited to a different style of broker compared to a longer-term swing trader. Or if you want to copy other professional traders, then you need to use a copy trading broker like eToro.
The main factors you should always take into account when selecting your CFD platform and broker include:
Regulation
If you are a serious trader, then regulation is going to be high on your list when looking at trading platforms and brokers. Even if you are not a professional trader, I am sure that your hard-earned money is very important to you and that is why regulation is important.
Regulation around the world is always changing and in many countries, it is getting tighter with the financial markets.
In the UK the markets are regulated by the FCA. The FCA like other strong regulators including ASIC in Australia and CySec in Cypress maintains strict control and rules over the financial markets.
If you are trading with a broker that has strong regulation under one of these authorities, then you can have trust in your broker.
If you are trading with an unregulated broker, then you don’t know who you are dealing with and are risking your money.
Assets
Obviously the more markets and financial assets you have access to trade, the more trading opportunities you will have to make profits. However, not all brokers offer every market you would like to trade.
CFD platforms in the UK offer the following markets to trade:
- Commodities
- Cryptocurrencies
- Forex
- Stocks
- Bonds
- ETFs
- Indices
Fees
Some brokers will deliberately hide or make their fees hard to understand.
These brokers will not show you upfront everything you will be paying to enter and exit your trades and this can end up costing you a lot of money.
You need to use a CFD trading platform that has very transparent fees and the fees are as small as possible. The fewer fees you are paying to make your trades, the more profits you are keeping.
The main fees you will have to take into account are commissions are spreads.
Commissions will be charged by your broker for each trade you make. Often these brokers will also then charge you a spread on top of their commission charge.
Other brokers such as eToro will not charge you any commission. instead, these brokers are making money by only charging the spread cost.
Some other fees you need to take into account are:
- Overnight Financing Fee: If you are trading CFDs and holding your trades overnight, then you will be subject to the overnight financing fee. The time this fee is charged is different for each broker so make sure to check with your broker.
- Deposit or Withdrawal Fees: When making a deposit or withdrawal some brokers will charge you a fee. This can often be dependant on the type of deposit or withdrawal method you are using.
- Inactivity Fees: Some UK platform providers will charge you an inactivity fee if your account remains inactive for a certain period of time.
Trading Tools & Features
The more trading tools and features your broker provides, the more chance you have of success.
The types of features you should be looking for are; a simple trading platform, a copy-trading function, and a free demo or virtual account.
A demo or virtual CFD trading account allows you to trade the markets without risking any real money. You make and manage your trades in the same way you would if you were risking real money and price moves the same, but you are trading with virtual money.
Whether you are an experienced pro or just starting out it is very important your broker offers a free CFD demo account.
Even if you are ready to live and start risking real money you will first want to test out the platform in demo mode to make sure you are comfortable with it.
A demo account can also be incredibly useful if you want to test out new strategies with virtual money in a no-risk situation.
Education, Research & Analysis
Some of the brokers in the UK will provide you their analysis and education materials.
This education will often come in the form of videos or trading guides.
This education and market analysis can be extremely useful and can help you get on the right side of the market.
Another key feature that UK platform providers offer is direct access to the latest news and economic data from the United Kingdom that will help you stay ahead of the curve.
User Experience: Simple to Use CFD Trading Platform
The CFD trading platform that you use must be simple to navigate and operate.
You will be making trades risking real money in the financial markets. The last thing you need is to have a trading platform that is complicated or that constantly lags.
Some brokers offer either their own CFD trading platforms that they have spent a long time creating like AvaTrade or Plus500, and others offer the very popular MT4.
The platform you use is going to play a huge role in your trading success. You need to be fully comfortable with it and be able to quickly enter and exit trades when you need.
Mobile App
Being able to manage your trades on your mobile phone with an app is crucial.
There will be times when you cannot be at your computer screen to monitor how your trade is going. Having a quality trading app that lets you manage and exit your trade if need be is a priority.
Mobile trading apps let you check your account portfolio quickly and if needed access customer support through live chat.
Payment Methods
Obviously being able to deposit and withdraw your money in a timely manner and in a way that suits you is very important.
UK brokers have many different deposit and withdrawal methods and they will have a whole department on hand to make sure these transactions go through smoothly.
The worst CFD providers will hold onto your money for days or weeks on end after you have made your withdrawal request which is why it is so important you use a reputable broker with fast withdrawal times.
Customer Service
The amount and quality of customer support your UK trading provider offers you is very important.
There could be times when you have a question about one of your trades or you need help with your account. You want to be able to quickly either get on the phone or live chat straight through to customer support. You also want this customer support to have a thorough knowledge of the markets.
UK brokers have multiple channels you can reach them through. The worst can only be reached through email or will leave you waiting on live chat for hours on end.
Strong Reputation
Reputation in the Financial markets is a very important thing.
Whilst you will be able to spot the scam brokers pretty quickly, the other brokers that sit on the fringe can be harder to recognise. A CFD broker that has been operating in the markets for many years shows that it has a strong track record and has been able to successfully service its clients.
With that said, you do need to keep in mind there are a lot of disgruntled traders who will lose money through their own bad trading and blame the broker.
How to Start CFD Trading
If you are ready to start trading in the markets, then you can follow this step-by-step walk-through to create a new account that will help you get all set up and ready to make your first trade.
Step 1: Open a Trading Account
Opening a trading account is a quick process.
On the sign up page, you will be required to create an account username and enter in your email and password to create your new trading account. You will also then have to confirm your email by clicking the confirmation link that gets sent to your email address.
Step 2: Confirm Identity
To make sure you can verify your account and withdraw any profits quickly, you will need;
- Your driver’s license or passport.
- A bank statement or utility bill that has been issued in the last three months.
The quicker you verify your account, the quicker you will be able to withdraw your profits and any deposit limits will also be removed.
Step 3: Deposit Funds
When logged in, you will see a ‘Deposit Funds’ button. After clicking on this you will be given the available options to make your first deposit so you are ready to start making trades.
Step 4: Place a CFD Trade
To make a trade you will first need to find the Forex pair or asset you want to trade. You can do this by using the search function built into the platform.
Once you have selected the market you are going to trade you can hit the ‘trade’ button. This will bring up a box showing you all the parameters you will need to enter to execute your first trade. As the image below shows you will be shown exactly how much you could either profit or lose depending on the details you enter before executing the trade.
CFD Trading Platforms UK – Conclusion
As we have gone through in this post; there are a lot of CFD trading platforms and brokers to choose from.
Signing up for one takes a few minutes and allows you to start trading with 0% commission.
FAQs
What is CFD Trading?
What is a CFD Trading Platform?
What are some popular CFD Trading Platforms?
What Broker Offers a CFD Platform?
How to Get Started Trading on a CFD Platform in the UK
