10+ CFD Trading Platforms UK September 2023 – Cheapest Platform Reviewed

7. Plus500 – UK-based CFD trading platform with tight spreads

Plus500 is a multi-asset group that was founded in 2008 and established its UK company based in 2011. The trading platform offers CFDs for a range of assets including stocks, indices, commodities, forex, options and ETFs. This brokerage is one that uniquely offers CFDs for cryptocurrencies also while being registered with the Financial Conduct Authority. Uniquely, Plus500 is a UK based CFD trading platform that is a FTSE250 company, and is publicly listed on the London Stock Exchange.

This CFD trading platform offers clients tight spreads and low fees all with zero commissions. For stock trading CFDs, clients can expect 0.7 – 2 pips trading fee which is incorporated into the spread, while for forex there is a 0.7% mark up for trades on instruments that are of a different currency to the user account.

A special feature that Plus500 offers clients is their +Insights feature. This is a type of social trading feature allowing users to analyse millions of other traders’ activity in real-time. Traders can visualise other users’ strategies, trades and results in a visually appealing manner. Although, this feature is slightly different to copy trading, users can manually place the same trades on their own from inside the +Insights interface.

Plus500 has a user-friendly interface and offers services on web and for mobile. Their mobile app is available to download on both iOS and Android permitting users to trade on-the-go and access their portfolio anytime, anywhere with a simple internet connection.

81% of retail investor accounts lose money when trading CFDs with this provider.

8. Alvexo – Trading platform that offers educational resources to new users

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:

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.

9. Skilling – Extensive CFD broker that supports MetaTrader4

Skilling is a UK CFD and forex trading platform that offers an 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 new users to be able to 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 straightforward.

Skilling is a CFD provider and does not deal in physical assets. This is useful for retail traders and market speculators who are looking to profit from the many different markets moving both higher and lower.

Skilling offers a range of markets to trade including forex, crypto, commodities, shares, and indices.

If you are concerned with trading costs, Skilling could be a platform to consider. 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 United Kingdom.

The minimum deposit is only £100, making it one of the lowest deposit brokers to choose from.

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

10. IG Markets – Global CFD trading platform with over 17,000 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 is regulated in many different jurisdictions including under tier one regulators. These include the FCA in the UK, the CFTC in the US, and ASIC in Australia.

Upon registering with IG, you gain access to their extensive array of CFD trading platforms, which encompasses Metatrader, IG’s proprietary platform, and ProRealTime.

IG enjoys worldwide appeal among traders for several reasons, with one standout feature being the vast range of trading opportunities it provides.

In fact, IG Markets offers access to 17,000+ markets, encompassing a diverse spectrum of assets such as Forex, indices, shares, cryptocurrencies, ETFs, and commodities. For traders based in the UK, there is also access to the spread betting platform.

Thanks to their extensive product range, global regulatory compliance, dedicated customer support, and industry-leading trading platforms, IG Markets has firmly established itself as one of the preferred CFD providers amongst UK traders.

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.

Key Features of a UK CFD Broker

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

In the UK the markets are regulated by the Financial Conduct Authority (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 is regulated under one of these authorities, then the platform will adhere to strict security processes and requirements. Unregulated brokers may not implement the same level of security.

Assets

Obviously, the more markets and financial assets you have access to trade, the more trading opportunities you will have. 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 fee structure 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 straightforward it will be to make a profit.

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.

Brokers such as eToro will not charge commission. Instead, these brokers are make money by only charging the spread cost.

Some other fees to take into account include:

• 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 dependent 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

CFD trading strategies often require charting tools and features. CFD brokers should provide an extensive range of tools that can facilitate different trading strategies.

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 analysis and education materials.

This education will often come in the form of videos or trading guides.

Educational resources 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

The CFD trading platform that you use must be clear 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 MT4 or TradingView.

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

There are several CFD trading platforms available to UK traders. Each platform that we have covered in this article has been made to suit a different type of trader so it is important to research each option before deciding which one to use. Experienced CFD traders may opt for platforms that provide advanced charting tools. On the other hand, less experienced traders may prefer a platform that provides social trading and educational resources.

Nevertheless, there are many platforms to choose from for trading CFDs in the UK. Signing up for one takes a few minutes and allows you to start trading with 0% commission.

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