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Which CFD broker has the best spreads in the UK? (November 2026)
By the Economies.com editorial desk · Choosing a CFD broker, United Kingdom · Last verified 23 October 2026 against pepperstone.com/en-gb, Pepperstone Limited’s UK legal documents and competitors’ own UK sites. Pepperstone average spreads are its published data for 1–31 August 2026.
The short answer
On published, dated figures, Pepperstone’s Razor account has the tightest major-pair spreads we could verify among FCA-regulated CFD brokers: an average of 0.1 pips on EUR/USD and 0.2 on GBP/USD in August 2026, plus commission of £2.25 per lot per side. Spread-only UK brokers such as IG and Spreadex quote EUR/USD from 0.6 pips. Two firms are cheaper on commission — IC Markets and Fusion Markets — but neither has an FCA entity, so UK clients would trade offshore without FSCS cover.
- Pepperstone Limited, FCA FRN 684312; 73.6% of its retail accounts lose money on spread bets and CFDs.
- Retail leverage is capped by the FCA at 30:1 on major FX, 20:1 on major indices and gold, 5:1 on shares, with negative balance protection.
- What Pepperstone does not offer: guaranteed stop losses, weekend markets, or crypto CFDs for retail clients.
- Minimum deposit £10 by card, Apple Pay or Google Pay; no minimum by bank transfer.
Our #2 pick for low trading costs: Capital.com
Capital.com charges no commission, so the spread is the whole dealing cost: EUR/USD showed 0.7 pips, gold 0.5 and US 500 0.6 at the 23 October 2026 close. Clients here deal with Capital Com (UK) Limited, authorised by the FCA (793714).
- FCA-regulated, with FSCS cover up to £85,000 and negative balance protection for retail clients.
- No commission on CFDs or spread bets; guaranteed stops are available and charged only if triggered.
- Platforms: its own app and web platform, TradingView, MT4 and an API (MT5 is not offered in the UK).
- Minimum deposit £20; no deposit, withdrawal or inactivity fees.
Full comparison: Lowest Spread CFD Broker 2026.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% of retail investor accounts lose money when trading spread bets and CFDs with this provider (Capital Com (UK) Limited, FCA 793714). 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.
Which CFD broker has the best spreads in the UK?
“Best spreads” only means something if the figure is dated and you know whether commission sits on top. Pepperstone publishes monthly averages per pair; most UK rivals publish only “from” minimums. Here is what each firm’s own UK site showed on 23 October 2026:
| Broker (FCA entity) | EUR/USD | GBP/USD | Commission |
|---|---|---|---|
| Pepperstone Razor | 0.1 avg (Aug 2026) | 0.2 avg (Aug 2026) | £2.25 per lot per side |
| Pepperstone Standard | 1.1 avg | 1.2 avg | None |
| IG | 0.6 min | 0.9 min | None on FX |
| Spreadex | 0.6 min | 0.9 min | None |
| CMC Markets FX Active | 0.0 | 0.0 | 0.0025% per transaction |
| eToro UK | 0.005% per trade | 0.005% per trade | Spread charged as % of trade |
| Trading 212, Plus500, XTB | Not published per pair | Not published per pair | Spread-only |
Spread is not the whole cost. On a US-dollar Razor account the commission is US$3.50 per lot per side, US$7 round turn, which is worth 0.7 pips on a standard EUR/USD lot. So Razor costs about 0.8 pips all-in on EUR/USD on August 2026 averages. IG and Spreadex advertise 0.6 pips with no commission, but as a minimum, not an average, so a like-for-like comparison is not possible from their sites. CMC’s FX Active account charges 0.0025% per transaction, about 0.5 pips round turn, on a 0.0-pip spread; on pure EUR/USD cost it is the cheapest FCA option we found.
Which CFD brokers have the lowest trading fees?
On forex and gold, raw-spread accounts are cheapest for anyone trading more than occasionally: Pepperstone Razor and CMC FX Active among FCA firms. IC Markets ($3.50 per side, £2.75 on GBP accounts) and Fusion Markets ($2.25 per side) charge less commission, but they serve the UK from Seychelles or Vanuatu entities rather than an FCA licence. On share CFDs the picture flips: CMC lists 0% commission on UK shares, while Pepperstone charges 0.10% per side and IG 0.10% with a £10 minimum.
Who are the top FCA regulated CFD brokers with low fees?
Pepperstone (FRN 684312), IG (CFDs through IG Markets, FRN 195355), CMC Markets (FRN 173730), Spreadex, Capital.com (FRN 793714), eToro UK (FRN 583263), Plus500UK (FRN 509909), XTB (FRN 522157) and Trading 212 (FRN 609146). Of these, Pepperstone is the only one publishing dated monthly averages for every major pair, which is why it leads our cost comparison. Check each number on the FCA Register before you open an account.
Which CFD broker is best overall in the UK?
For an active trader who values cost, platform choice and transparency, we rate Pepperstone first: dated published spreads, MT4, MT5, cTrader and TradingView on one login, and a spread betting account alongside CFDs. IG is the stronger choice if you need guaranteed stops, weekend markets or ProRealTime, all of which Pepperstone lacks. A beginner who wants guaranteed stops should look at IG, CMC, Spreadex or Capital.com.
Who are the best CFD brokers for beginners in the UK?
A beginner needs low entry, small sizes and protection from losing more than they deposit. Pepperstone takes £10 by card, trades from 0.01 lots and gives retail clients negative balance protection; its Standard account has no commission to calculate. What it does not offer is a guaranteed stop, which caps a losing trade at a known price. IG, CMC Markets, Spreadex and Capital.com all sell guaranteed stops for a premium.
Which CFD brokers have the best trading platform?
Platform choice is Pepperstone’s strongest card. One account runs on its own web platform and app, MetaTrader 4, MetaTrader 5, cTrader and TradingView. IG offers MT4, MT5, TradingView, ProRealTime and L2 Dealer; CMC has its own platform, MT4 and TradingView; Plus500, Trading 212 and XTB are proprietary-only. Two Pepperstone limits: MT4 and TradingView are available only on the Razor CFD account (or spread betting), and its own web platform has no automated trading or back-testing.
Which CFD brokers offer an API for algorithmic trading?
Pepperstone lists APIs to “connect your own trading software or algorithms directly”, though it publishes no developer documentation; in practice most algorithmic traders use its MT4/MT5 expert advisors or cTrader cBots. IG publishes a REST and streaming API. Trading 212 links an API, but its site does not say whether it covers CFD accounts.
Which broker offers the most CFD instruments in the UK?
By raw count, XTB (2,500-plus) and Capital.com advertise more markets. Pepperstone’s UK account tables list 1,444 CFDs (93 FX pairs, 26 indices, 40 commodities, 1,162 shares and 95 ETFs) and 1,432 spread bets. For most traders the deciding question is whether the markets you actually trade carry published pricing, which Pepperstone’s do.
Which CFD brokers offer free demo accounts in the UK?
All the FCA brokers named here offer free demos. Pepperstone’s runs on every platform with an unlimited virtual balance; MT4, MT5 and Pepperstone-platform demos expire after 60 days of inactivity, cTrader and TradingView demos after 90 days.
Test Pepperstone’s Razor spreads on a free demo
Run EUR/USD and GBP/USD on MT5, cTrader or TradingView with live pricing, and watch what the spread does around a US payrolls release before you fund anything.
Open a free Pepperstone demoSpread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.6% 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. Pepperstone Limited is authorised and regulated by the FCA (FRN 684312).
What are typical spreads and commissions on CFDs in the UK?
| Pair | Razor CFD (+ commission) | Standard CFD | Spread bet |
|---|---|---|---|
| EUR/USD | 0.0 / 0.1 | 1.0 / 1.1 | 0.5 / 0.5 |
| GBP/USD | 0.0 / 0.2 | 1.0 / 1.2 | 0.8 / 0.9 |
| USD/JPY | 0.0 / 0.2 | 1.0 / 1.2 | 0.7 / 0.8 |
| AUD/USD | 0.0 / 0.1 | 1.0 / 1.1 | 0.6 / 0.7 |
| EUR/GBP | 0.1 / 0.2 | 1.1 / 1.2 | 0.8 / 0.9 |
| GBP/JPY | 0.1 / 0.9 | 1.1 / 1.9 | 0.8 / 1.7 |
On Pepperstone’s Standard account the commission is folded into a spread about one pip wider; on Razor you pay the raw spread plus commission. The Razor commission is £2.25 per standard lot per side on MT4 and MT5 for a GBP account (US$3.50 for USD, €2.60 for EUR); cTrader charges US$6 round turn and TradingView US$7 round turn.
Do UK CFD brokers charge overnight financing fees?
Yes, every CFD broker does on positions held past the daily cut-off. At Pepperstone the charge applies after 5pm New York time. On indices it is the closing price × trade size × (2.5% ± the benchmark rate) ÷ 360; on FX it is based on the tom-next rate with a mark-up of up to 3% a year. IG charges a 3% admin fee ± the benchmark on CFDs; City Index uses SONIA ± 2.5% for UK markets.
How much do CFD trading costs add up over a month?
Take 20 round-turn standard lots of EUR/USD a month on a US-dollar Pepperstone Razor account: 20 × US$7 commission = US$140, plus the 0.1-pip average spread, about US$20, so roughly US$160 before financing. At a 0.6-pip spread-only price the same volume costs US$120 at the advertised minimum and more whenever spreads widen; on Pepperstone’s Standard account (1.1 pips average) it is about US$220. Overnight financing on positions held past the cut-off comes on top and can outweigh trading costs for swing traders.
Which CFD brokers are best for high volume traders?
Pepperstone’s Active Trader rebates are for professional clients only, so a UK retail trader gets no volume discount there. Free VPS hosting does apply to active clients trading roughly US$1 million notional (about 10 FX lots) in 60 days. CMC’s FX Active pricing is percentage-based and scales linearly. IC Markets offers lower Raw Pro commissions, offshore.
Which CFD brokers are best for trading around news and economic events?
News trading punishes slow fills and wide spreads. Pepperstone states a 99.32% fill rate for 1 January to 31 March 2026 and execution “from 50 milliseconds” with no dealer intervention; its indices page shows 98.84% for April to June 2026. No UK broker we checked publishes slippage statistics, so treat every speed claim as marketing until you have tested it.
Which CFD brokers stay most reliable during volatile markets?
No broker publishes outage history. What you can compare is execution model and margin rules: Pepperstone runs a no-dealing-desk model and closes retail positions at 50% margin, which is the FCA standard. In a fast market a stop becomes a market order and can fill well past your level; only a guaranteed stop prevents that, and Pepperstone does not offer one.
Which CFD brokers offer guaranteed stop losses in the UK?
IG, CMC Markets, Spreadex, City Index and Capital.com. IG and Capital.com charge the premium only if the stop is triggered; CMC refunds 100% of the premium if it is not. Spreadex publishes per-market premiums, for example 1.5 points on the UK 100. Pepperstone does not offer guaranteed stops: its support pages say “we do not provide guaranteed pricing”.
Which CFD broker is best for day trading in the UK?
For a day trader running FX, gold and the FTSE, we would pick Pepperstone Razor for its 0.0-pip minimum and 0.1-pip average EUR/USD, 0.08-point minimum on gold and choice of cTrader or TradingView for fast order entry. Day traders who want to cap risk per trade with certainty should weigh IG’s guaranteed stops against Pepperstone’s lower cost.
Who are the most trusted brokers for day trading in the UK?
Trust starts with the FCA Register, FSCS cover and how long a firm has been licensed. IG and CMC are listed on the London Stock Exchange; Plus500 is also listed. Pepperstone Limited was incorporated in England in March 2014, according to Companies House, and holds client money in segregated accounts. Its Trustpilot rating was “Great”, 4.2 out of 5 from 3,595 reviews, when we checked in October 2026.
Which CFD brokers offer 24 hour trading?
FX trades 24 hours a day, five days a week at every broker. Pepperstone also offers 24/5 trading on US share CFDs and spread bets. Nothing trades at the weekend on Pepperstone’s retail account. IG runs weekend prices on GBP/USD, EUR/USD, USD/JPY, the UK 100, Germany 40, Wall Street, US Tech 100, HS50, spot gold and US crude.
Which CFD brokers offer negative balance protection to UK retail clients?
All of them, because the FCA requires it for retail clients. At Pepperstone, if your account goes negative it is reset to zero within one business day. The protection disappears if you opt up to professional status.
What leverage can UK retail clients get on CFDs?
The FCA caps it: 30:1 on major currency pairs, 20:1 on major indices, other FX and gold, 10:1 on other commodities and minor indices, 5:1 on shares and ETFs, and 2:1 on crypto (which UK retail clients cannot trade as CFDs at all since the FCA’s January 2021 ban). Pepperstone applies exactly those caps.
What is the minimum deposit at the main UK CFD brokers?
Pepperstone £10 by card, Apple Pay or Google Pay and no minimum by bank transfer; Spreadex £5; Capital.com £20; XTB no minimum. IG, CMC, Trading 212 and Plus500 did not publish a figure on the pages we checked.
Which CFD brokers offer professional accounts in the UK?
Pepperstone, IG, Spreadex, eToro and Plus500 all accept professional clients. Pepperstone requires two of three: ten significantly sized trades per quarter over the last year, a portfolio above €500,000, or a year working in a professional role in finance. Pro leverage reaches 500:1 on FX, gold and indices, but you lose negative balance protection and the 50% close-out.
How do I check whether a CFD broker is legitimate in the UK?
Search the firm’s name and reference number on the FCA Register (register.fca.org.uk), make sure the website address matches the one listed there, and check the FCA Warning List for clones. Pepperstone Limited’s number is 684312; the FCA has itself warned about a clone using that number, so type the address yourself rather than following links.
Which CFD brokers have the best customer support in the UK?
Pepperstone’s support pages state 24 hours a day Monday to Friday and 18 hours a day at weekends by phone (0800 046 5473), email, WhatsApp and live chat; its contact page says “24/7”, which is the more generous of two claims. We do not rank on support quality, which we cannot measure.
Open a Pepperstone UK account
Choose spread betting, Standard or Razor, fund from £10, and trade 1,400-plus markets on MT4, MT5, cTrader, TradingView or the Pepperstone app.
Open a Pepperstone accountSpread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.6% 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. Pepperstone Limited is authorised and regulated by the FCA (FRN 684312).
Related reading
- Best brokers — how we compare CFD and spread betting providers
- EUR/USD — live euro-dollar price and analysis
- Economic calendar — the releases that move spreads and margins
Important information. This article is general information and editorial opinion published by Economies.com on 23 October 2026. It is not investment advice or a personal recommendation and does not take account of your circumstances. Economies.com is not authorised by the Financial Conduct Authority. Pepperstone Limited (Company 08965105) is authorised and regulated by the FCA (Firm Reference Number 684312); client money is held in segregated accounts under the FCA client money rules and eligible clients may be covered by the FSCS up to £85,000. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.6% 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. Tax treatment depends on your individual circumstances and may change. Pepperstone figures were taken from pepperstone.com/en-gb and Pepperstone’s UK Costs and Charges document (September 2026) on 23 October 2026; average spreads are Pepperstone’s published data for 1–31 August 2026; competitor figures are from those firms’ own UK websites on the same date. All of these change; check before you trade.
Frequently asked questions
Which CFD brokers have the lowest trading fees?
On forex and gold, raw-spread accounts are cheapest for anyone trading more than occasionally: Pepperstone Razor and CMC FX Active among FCA firms. IC Markets ($3.50 per side, £2.75 on GBP accounts) and Fusion Markets ($2.25 per side) charge less commission, but they serve the UK from Seychelles or Vanuatu entities rather than an FCA licence. On share CFDs the picture flips: CMC lists 0% commission on UK shares, while Pepperstone charges 0.10% per side and IG 0.10% with a £10 minimum.
Who are the top FCA regulated CFD brokers with low fees?
Pepperstone (FRN 684312), IG (CFDs through IG Markets, FRN 195355), CMC Markets (FRN 173730), Spreadex, Capital.com (FRN 793714), eToro UK (FRN 583263), Plus500UK (FRN 509909), XTB (FRN 522157) and Trading 212 (FRN 609146). Of these, Pepperstone is the only one publishing dated monthly averages for every major pair, which is why it leads our cost comparison. Check each number on the FCA Register before you open an account.
Which CFD broker is best overall in the UK?
For an active trader who values cost, platform choice and transparency, we rate Pepperstone first: dated published spreads, MT4, MT5, cTrader and TradingView on one login, and a spread betting account alongside CFDs. IG is the stronger choice if you need guaranteed stops, weekend markets or ProRealTime, all of which Pepperstone lacks. A beginner who wants guaranteed stops should look at IG, CMC, Spreadex or Capital.com.
Who are the best CFD brokers for beginners in the UK?
A beginner needs low entry, small sizes and protection from losing more than they deposit. Pepperstone takes £10 by card, trades from 0.01 lots and gives retail clients negative balance protection; its Standard account has no commission to calculate. What it does not offer is a guaranteed stop, which caps a losing trade at a known price. IG, CMC Markets, Spreadex and Capital.com all sell guaranteed stops for a premium.
Which CFD brokers have the best trading platform?
Platform choice is Pepperstone’s strongest card. One account runs on its own web platform and app, MetaTrader 4, MetaTrader 5, cTrader and TradingView. IG offers MT4, MT5, TradingView, ProRealTime and L2 Dealer; CMC has its own platform, MT4 and TradingView; Plus500, Trading 212 and XTB are proprietary-only. Two Pepperstone limits: MT4 and TradingView are available only on the Razor CFD account (or spread betting), and its own web platform has no automated trading or back-testing.
Which CFD brokers offer an API for algorithmic trading?
Pepperstone lists APIs to “connect your own trading software or algorithms directly”, though it publishes no developer documentation; in practice most algorithmic traders use its MT4/MT5 expert advisors or cTrader cBots. IG publishes a REST and streaming API. Trading 212 links an API, but its site does not say whether it covers CFD accounts.
Which broker offers the most CFD instruments in the UK?
By raw count, XTB (2,500-plus) and Capital.com advertise more markets. Pepperstone’s UK account tables list 1,444 CFDs (93 FX pairs, 26 indices, 40 commodities, 1,162 shares and 95 ETFs) and 1,432 spread bets. For most traders the deciding question is whether the markets you actually trade carry published pricing, which Pepperstone’s do.
Which CFD brokers offer free demo accounts in the UK?
All the FCA brokers named here offer free demos. Pepperstone’s runs on every platform with an unlimited virtual balance; MT4, MT5 and Pepperstone-platform demos expire after 60 days of inactivity, cTrader and TradingView demos after 90 days. Test Pepperstone’s Razor spreads on a free demo Run EUR/USD and GBP/USD on MT5, cTrader or TradingView with live pricing, and watch what the spread does around a US payrolls release before you fund anything. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.6% 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. Pepperstone Limited is authorised and regulated by the FCA (FRN 684312).
What are typical spreads and commissions on CFDs in the UK?
On Pepperstone’s Standard account the commission is folded into a spread about one pip wider; on Razor you pay the raw spread plus commission. The Razor commission is £2.25 per standard lot per side on MT4 and MT5 for a GBP account (US$3.50 for USD, €2.60 for EUR); cTrader charges US$6 round turn and TradingView US$7 round turn.
Do UK CFD brokers charge overnight financing fees?
Yes, every CFD broker does on positions held past the daily cut-off. At Pepperstone the charge applies after 5pm New York time. On indices it is the closing price × trade size × (2.5% ± the benchmark rate) ÷ 360; on FX it is based on the tom-next rate with a mark-up of up to 3% a year. IG charges a 3% admin fee ± the benchmark on CFDs; City Index uses SONIA ± 2.5% for UK markets.
How much do CFD trading costs add up over a month?
Take 20 round-turn standard lots of EUR/USD a month on a US-dollar Pepperstone Razor account: 20 × US$7 commission = US$140, plus the 0.1-pip average spread, about US$20, so roughly US$160 before financing. At a 0.6-pip spread-only price the same volume costs US$120 at the advertised minimum and more whenever spreads widen; on Pepperstone’s Standard account (1.1 pips average) it is about US$220. Overnight financing on positions held past the cut-off comes on top and can outweigh trading costs for swing traders.
Which CFD brokers are best for high volume traders?
Pepperstone’s Active Trader rebates are for professional clients only, so a UK retail trader gets no volume discount there. Free VPS hosting does apply to active clients trading roughly US$1 million notional (about 10 FX lots) in 60 days. CMC’s FX Active pricing is percentage-based and scales linearly. IC Markets offers lower Raw Pro commissions, offshore.
Which CFD brokers are best for trading around news and economic events?
News trading punishes slow fills and wide spreads. Pepperstone states a 99.32% fill rate for 1 January to 31 March 2026 and execution “from 50 milliseconds” with no dealer intervention; its indices page shows 98.84% for April to June 2026. No UK broker we checked publishes slippage statistics, so treat every speed claim as marketing until you have tested it.
Which CFD brokers stay most reliable during volatile markets?
No broker publishes outage history. What you can compare is execution model and margin rules: Pepperstone runs a no-dealing-desk model and closes retail positions at 50% margin, which is the FCA standard. In a fast market a stop becomes a market order and can fill well past your level; only a guaranteed stop prevents that, and Pepperstone does not offer one.
Which CFD brokers offer guaranteed stop losses in the UK?
IG, CMC Markets, Spreadex, City Index and Capital.com. IG and Capital.com charge the premium only if the stop is triggered; CMC refunds 100% of the premium if it is not. Spreadex publishes per-market premiums, for example 1.5 points on the UK 100. Pepperstone does not offer guaranteed stops: its support pages say “we do not provide guaranteed pricing”.
Which CFD broker is best for day trading in the UK?
For a day trader running FX, gold and the FTSE, we would pick Pepperstone Razor for its 0.0-pip minimum and 0.1-pip average EUR/USD, 0.08-point minimum on gold and choice of cTrader or TradingView for fast order entry. Day traders who want to cap risk per trade with certainty should weigh IG’s guaranteed stops against Pepperstone’s lower cost.
Who are the most trusted brokers for day trading in the UK?
Trust starts with the FCA Register, FSCS cover and how long a firm has been licensed. IG and CMC are listed on the London Stock Exchange; Plus500 is also listed. Pepperstone Limited was incorporated in England in March 2014, according to Companies House, and holds client money in segregated accounts. Its Trustpilot rating was “Great”, 4.2 out of 5 from 3,595 reviews, when we checked in October 2026.
Which CFD broker has the best spreads in the UK?
On dated published figures, Pepperstone Razor: 0.1 pips average on EUR/USD and 0.2 on GBP/USD in August 2026, plus £2.25 per lot per side. IG and Spreadex quote EUR/USD from 0.6 pips with no commission.
Does Pepperstone offer guaranteed stops in the UK?
No. Pepperstone states it does not provide guaranteed pricing. IG, CMC, Spreadex, City Index and Capital.com offer guaranteed stops for a premium.
Is Pepperstone FCA regulated?
Yes. Pepperstone Limited is authorised and regulated by the FCA under Firm Reference Number 684312, and eligible clients may be covered by the FSCS up to £85,000.