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Best Day Trading Brokers in the UK

Tobi Opeyemi Amure
Reviewed by:
Best day trading brokers UK

In a nutshell, the best day trading brokers in the UK are Plus500, eToro, and Spreadex. Plus500 offers a user-friendly platform with a range of trading instruments. eToro stands out for its social trading features and diverse market access, while Spreadex is known for its tight spreads and robust trading platform.

Looking for your perfect day trading broker?

I’ve tested, scored, and ranked the best options to use in the UK.

Whether you’re looking for security, user-friendliness, or extensive trading options, I’ve got you covered.

11 Best Day Trading Platforms Ranked

Here is a quick list of the best day trading brokers to use in the UK based on my hands-on analysis:

Your capital is at risk.

  1. Plus500 – Overall best
  2. eToro – Best for beginners
  3. Spreadex – Best for tight spreads
  4. Trade Nation – Best for fixed spreads
  5. IG – Best for a range of investment options
  6. XTB – Best for advanced day traders
  7. AvaTrade – Best for forex day trading
  8. Pepperstone – Best for AI trading analysis & automation
  9. CMC Markets – Best for selection of currency pairs
  10. Saxo – Best for a selection of 71,000+ instruments
  11. Capital.com – Best for day trading CFDs

Top Picks Compared for UK Traders

Here I’ve compared the brokers based on five key rating criteria you must consider and compare.

RankBrokersMinimum depositS&P 500 CFD
spread (average)
CommissionTypes of assets
1Plus500£1000.70%CFDs on forex, commodities, indices,
options, stocks, ETFs
2eToro$100.80%Stocks, indices, ETFs,
currencies, commodities, crypto
3Spreadex£00.60%CFDs on stocks, forex, ETFs, indices,
commodities, futures, sporting events
4Trade Nation£00.50%Forex, CFDs on stock indices, stocks,
commodities, bonds, crypto
5IG£2500.4VariesReal stocks & ETFs, exchange-traded securities,
CFDs (currency pairs, stock indices, stocks, ETFs,
commodities, crypto, bonds, and futures)
6XTB£00.60%Forex, indices,
commodities, stocks,
ETFs, CFDs
7AvaTrade£1000.50%Forex, stocks,
commodities, indices
8Pepperstone£00.40.10% + spreadForex, commodities, indices,
currency indices, crypto,
stocks, ETFs
9CMC Markets£00.6$0.02/shareCFDs on forex, stock indices, stocks,
ETFs, commodities, bonds, crypto
10Saxo£00.5$0.02/shareStocks, ETFs, forex, funds, bonds,
options, futures, CFDs, crypto
11Capital.com$200.80%Forex, CFDs on stock indices, stocks,
ETFs, commodities, crypto

Reviews

In 2023, around 2 in 5 Brits (42%) invest and trade, up from 36% in 20211.

Choosing the best day trading broker is crucial for newcomers in the market.

Having worked in the retail investment sector in London over the last four years, I had the opportunity to experience the rise first-hand.

Additionally, in my role working for one of the UK’s leading financial companies, “a trustworthy and respected provider of news, education and market analysis for the everyday investor”, I was able to work with and test some of the biggest day trading brokers on the market.

Using my experience in this field, I’ve compiled a list of the best day trading brokers in the UK based on five key criteria:

  1. Minimum deposit
  2. S&P 500 CFD spread (average)
  3. Commission
  4. Platform fee
  5. Types of assets

Factors such as safety, usability, trading platforms available, research tools, educational materials, and additional features were also considered.

All the day trading brokers I’ve reviewed below are regulated by the UK’s financial watchdog, the Financial Conduct Authority (FCA).

You can also read about how we test brokers here.

This article was reviewed by Tobi Opeyemi Amure, a trading expert and writer at InvestopediaInvesting.com, and Trading.biz.

1. Plus500 – Overall best

Plus500 - One of the best UK day trading brokers for low fees

Plus500 offers a prominent and trusted day trading broker, with features like online share trading, U.S. futures, and a large selection of CFDs.

Is Plus500 safe?

Plus500 is authorised and regulated by the Financial Conduct Authority (FCA) licence number #509909, Australian Securities & Investment Commission (ASIC), Japanese Financial Services Authority (JFSA), Financial Markets Authority (FMA), Monetary Authority of Singapore (MAS), and the European Union via MiFID.

Plus500 is on the Main Market of the London Stock Exchange and offers negative balance protection for CFD trading.

What can I trade on Plus500?

You can primarily trade CFDs, including forex, stock index, stock, ETF, commodity, and crypto. However, they don’t offer popular asset classes like ETFs or options.

Plus500 offers a total of over 2,800 tradeable instruments.

Does Plus500 charge commissions and fees?

Plus500 doesn’t charge a withdrawal fee and offers average forex CFD fees. After 3 months of inactivity, they charge a $10 quarterly inactivity fee. They also have a currency conversion fee of up to 0.7%.

When trading CFDs with Plus500, all costs are included in the spread; there’s no commission.

  • S&P 500 CFD (average spread): 0.7 points
  • EURUSD (average spread): 0.8 pips

Mobile trading app?

The Plus500 app is similar to its WebTrader version but falls short of industry leaders in advanced features.

It lacks synchronisation with web charts and essential features such as news and advanced trading tools.

Trading platforms?

The Plus500 WebTrader platform, designed for casual investors, offers features like pre-defined watchlists, client sentiment alerts, and a Dow Jones-linked economic calendar.

Although it provides 110 chart indicators and 20+ drawing tools, the settings won’t match the mobile app.

Plus500 has its own platform, which includes risk tools like trailing stops and guaranteed stop-loss orders but lacks support for algorithmic, social copy trading, and MetaTrader suite.

Research tools and educational content?

Plus500’s research is improving but still trails top industry players, lacking integrated forex news.

They’ve added sentiment features from Trading Central and FactSet and introduced the +Insights module for detailed trader statistics, including Trader’s Trends.

It offers client sentiment data, a Dow Jones economic calendar, daily fundamental analysis articles, and alerts for sentiment data changes.

Their educational content is limited compared to leading brokers, but they have introduced a Trading Academy with videos, webinars, articles, and feature content from the Corellian Academy on YouTube.

Their Trader’s Guide section contains several articles and about a dozen educational videos.

Which type of day trader is Plus500 best for?

Plus500 is best suited for intermediate traders seeking ease of use and simplicity, with its user-friendly platform and low minimum deposit for live accounts. However, active traders wanting comprehensive market research might find the broker lacking.

Read my full Plus500 review.

Key rating criteria:

Minimum depositS&P 500 CFD
spread (average)
CommissionTypes of assets
£1000.70%Forex, commodities, indices,
options, stocks, ETFs

Pros:

  • No commission on buy/sell and low spreads
  • Free unlimited demo account
  • Over 2,800 trading instruments
  • Real-time quotes and advanced analytics

Cons:

  • No API integrations
  • Lacks social copy trading
  • No spread betting

82% 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.

2. eToro – Best for beginners

eToro - Best day trading broker UK for beginners

A close runner-up on my list of the best day trading brokers and what I recommend to beginners is eToro.

Is eToro safe?

eToro’s safety is reinforced by its authorisation and registration from the Financial Conduct Authority (FCA), Australian Securities & Investment Commission (ASIC), and the European Union via MiFID.

eToro stores client funds in trusted banks and uses SSL encryption for data protection. They provide a Two Factor Authentication (2FA) option for your account.

eToro currently has over 33 million users worldwide2 and has a 4.4-star rating on Trustpilot from over 21,000 reviews.

eToro Trustpilot rating.

What can I trade on eToro?

eToro offers a total of over 4,000 tradeable instruments.

You can trade real stocks, ETFs, cryptos, CFDs, indices, commodities, and forex.

  • Stocks: 3,200
  • Currencies: 52
  • Commodities: 32
  • Crypto: 74
  • Indices: 20
  • ETFs: 420

Does eToro charge commissions and fees?

eToro provides free stock and ETF trades. They charge low fees for forex and CFDs, but they do have a $5 withdrawal fee, conversion fee, and inactivity fee.

  • Real stocks & ETFs: £0
  • S&P 500 CFD (average spread): 0.8 points
  • EURUSD (average spread): 1 pip
  • Commodities: From 2 pips
  • Indices: From 0.75 points
  • Crypto: 1% fixed added to the market price (Bid-Ask spread)
  • Withdrawal fee: $5
  • Inactivity fee: $10 per month after one year of inactivity

Mobile trading app?

eToro’s mobile app is easy to use and matches its web platform in design. They have two apps: the main eToro app and the eToro Money app for crypto and cash transfers, both on Android and iOS.

The app has dark and light themes and synced watchlists. Its charts show five indicators, unlike the web’s 67, and miss drawing tools.

eToro Money app handles money and crypto, has a similar design, and supports social trading. Both apps ensure security with a two-step login, touch/face ID, and a good search feature.

Trading platforms?

eToro combines individual and copy trading on its user-friendly web platform.

Here, you can set up watchlists and easily find markets. The ProCharts feature provides 66 indicators, 13 tools, and different layouts. eToro’s Smart Portfolios groups traders into funds, helping both passive and active traders.

One of its biggest advantages is its CopyTrader functionality. If you’re not sure how or what to trade, this unique functionality allows you to automatically replicate the trades of successful traders on the platform.

All copy trades on eToro are done by hand, setting it apart from brokers that use both manual and auto methods.

You can place orders such as Market, Limit, Stop-loss, and Trailing stop-loss. The web platform lets you set price alerts and notifications. You see notifications as icon changes or browser alerts, while mobile users get push notifications.

eToro provides clear fee reports. You can view your portfolio as an asset list or a pie chart.

Research tools and educational content?

eToro competes with top brokers with its range of improved research tools, weekly videos, and unique features such as Trading Central for certain members.

It’s strong in fundamental analysis but weaker in technical analysis, despite recent additions like eToro Plus and Weekly Crypto Roundup.

eToro’s feed, similar to Twitter, offers mixed content quality, but in-house and third-party sources are often more trustworthy.

eToro’s Learning Academy is growing however is not yet on par with competitors. The academy provides categorised videos and articles, and beginners can find useful details about trading tools on the platform.

Still, eToro’s YouTube needs clearer organisation between research, promo, and education videos.

Which type of day trader is eToro best for?

Used as a day trading broker, eToro is best suited for retail traders interested in copy trading and experienced traders willing to share their strategies. But it’s not ideal for active, high-volume traders or those interested in algorithmic trading.

Read my full eToro review.

Key rating criteria:

Minimum depositS&P 500 CFD
spread (average)
CommissionTypes of assets
$100.80%Stocks, indices, ETFs,
currencies, commodities,
crypto

Pros:

  • Commission-free stock trading
  • Low spreads
  • Registered by top-tier authorities like FCA
  • User-friendly interface
  • Copy trading
  • Demo/virtual trading account

Cons:

  • Charges on withdrawals

{etoroCFDrisk}% 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. Other fees apply. Your capital is at risk. For more information, click here.

3. Spreadex – Best for tight spreads

Spreadex - Best broker for day trading with tight spreads.

Spreadex, an award-winning UK trading platform, is highly acclaimed for its exemplary customer service and efficient mobile app, making it a standout choice in the CFD trading domain.

Is Spreadex safe?

Spreadex, established in 1999, is a trustworthy platform regulated by the UK’s Financial Conduct Authority (FCA). It has over 20 years of reliable conduct, although it doesn’t hold a banking license or disclose financial records publicly.

Its FCA regulation ensures protection up to £85,000, and it offers negative bank balance protection for added safety.

What can I trade on Spreadex?

Spreadex provides a wide array of CFDs and forex pairs. Although it doesn’t offer other assets like stocks and ETFs, its selection includes indices, shares, bonds, commodities, cryptocurrencies, and options. The range is substantial for forex and CFD traders.

Does Spreadex charge commissions and fees?

Spreadex stands out for its no non-trading fees policy. Deposits, withdrawals, and inactivity are all free of charge. While its CFD fees are slightly higher than some competitors, the transparency of its fee structure and competitive forex fees are notable advantages.

Mobile trading app?

The mobile app of Spreadex has won accolades for its reliability and user-friendliness. Its intuitive layout and customizability make mobile trading efficient, though it lacks biometric login features.

Trading platforms?

Spreadex’s web platform impresses with its sleek design and excellent search functionality. It allows extensive customization and provides essential tools for effective day trading, including price alerts. The continuity between the mobile and web platforms enhances the trading experience.

Research tools and educational content?

The platform offers powerful charting tools with 39 technical indicators and a user-friendly interface for trading directly from charts. However, it falls short in providing trading ideas and fundamental data. Its educational content is comprehensive, but the absence of webinars and demo accounts might limit learning opportunities for new traders.

Which type of day trader is Spreadex best for?

Spreadex is best suited for active CFD and forex traders who value a mix of safety, comprehensive charting tools, and an efficient trading platform. It’s ideal for those who prefer a platform with strong customer service and are less reliant on fundamental research tools.

Read my full Spreadex review.

Key rating criteria:

Minimum depositS&P 500 CFD
spread (average)
CommissionTypes of assets
£00.60%Stocks, forex, ETFs, indices, commodities,
futures, sporting events

Pros:

  • Wide range of CFDs and forex pairs
  • Transparent, competitive fee structure
  • Excellent customer service
  • User-friendly interface

Cons:

  • Limited market variety beyond forex/CFDs
  • No demo account for practice

64% of retail investors lose money when trading spread bets and CFDs with this provider.

4. Trade Nation – Best for fixed spreads

Trade Nation – Best broker for day trading with fixed spreads

Trade Nation, established in 2014, has rapidly become a prominent day trading broker in the UK, known for its commitment to transparency and customer-focused approach.

The platform is regulated by reputable global financial governance bodies, including the UK’s Financial Conduct Authority (FCA), ensuring a secure and credible trading environment.

Trade Nation stands out for its competitive, fixed spreads across various markets, offering clarity and consistency in trading costs without hidden fees or commissions.

The platform caters to both beginner and advanced traders, providing an easy-to-use interface with a full suite of advanced trading tools.

These tools include Smart News, an AI-driven feed for real-time market news, Signal Centre for actionable trading ideas, and an advanced charting package for in-depth technical analysis. Additionally, sentiment analysis tools and insights from Trading Central enhance traders’ ability to make informed decisions.

Trade Nation’s offerings include over 1,000 global marketplaces, making it an attractive option for traders looking for diversity in trading options. The platform’s fee structure is spread-only, with no separate commission charges, benefiting day traders with tighter spreads and lower transaction costs.

However, financing charges apply for overnight positions, and an inactivity fee is charged after 12 months of inactivity.

With 24-hour customer support five days a week, Trade Nation ensures traders have assistance whenever needed, along with resources like demo accounts for skill improvement.

The platform’s cloud-based trading system allows access from any device, ensuring flexibility and convenience.

While it may have limitations in product range and educational resources, its user-friendly web-based platform, great customer support, and negative balance protection make Trade Nation a competitive choice for day traders in the UK.

Read my full Trade Nation review.

Key rating criteria:

Minimum depositS&P 500 CFD
spread (average)
CommissionTypes of assets
£00.50%Forex, CFDs on stock indices, stocks,
commodities, bonds, crypto

Pros:

  • Fixed spreads
  • Low-cost spread trading
  • No hidden fees

Cons:

  • A small selection of assets

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

5. IG – Best for a range of investment options

IG - Best day trading broker for a range of investment options
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.

IG is a publicly-traded, globally-regulated multi-asset broker providing a comprehensive trading package with top-notch research tools, industry-leading education, and a wide array of tradeable markets.

Is IG safe?

IG is authorised and regulated by the Financial Conduct Authority (FCA), Australian Securities & Investment Commission (ASIC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA), Financial Markets Authority (FMA), Commodity Futures Trading Commission (CFTC), and the European Union via MiFID.

IG Group, the parent company of IG, is listed on the London Stock Exchange and it provides negative balance protection for forex spot and CFD trading

What can I trade on IG?

You can trade real stocks & ETFs, exchange-traded securities, and CFDs (currency pairs, stock indices, stocks, ETFs, commodities, crypto, bonds, and futures).

IG offers a total of over 19,537 tradeable instruments, largely through CFDs and spread bets.

Does IG charge commissions and fees?

IG has low non-trading fees, including free withdrawals and an inactivity fee that only applies after 2 years. However, IG charges higher fees for real stocks compared to its competitors, while its options fees remain low. Additionally, IG does not impose account, deposit, or withdrawal fees.

  • S&P 500 CFD (average spread): 0.4 points
  • EURUSD (average spread): 0.6 pip

Mobile trading app?

IG’s mobile app is one of the best in the industry, boasting extensive charting features, including 30 technical indicators, 20 drawing tools, and 16-time frame options across different chart types.

While it strikes a balance between user-friendliness and depth, it’s worth noting the absence of preset watchlists or screeners, which could be a slight inconvenience when browsing its vast product offerings.

Additionally, IG provides a separate mobile app, IG Academy, for educational content.

Trading platforms?

IG provides a wide range of trading platforms and tools suitable for traders of all experience levels. Their flagship web platform is user-friendly and offers advanced charting with up to four alerts on 11 indicators, various chart types, and a tick chart.

They also offer specialty platforms like L2 Dealer for share trading and ProRealTime charts with almost 100 indicators and automated strategy support.

Integrated trading signals from PIA First and Autochartist further enhance the trading experience.

Research tools and educational content?

IG provides a wide selection of top-notch research tools, blending their resources with third-party offerings. This encompasses Reuters news, trade signals, IGTV shows, economic calendars, and daily blogs.

They also offer advanced features, such as a customisable screener, a “Recommended News” section personalised to your account, content from DailyFX, and a social network called IG Community for collaborative research and insights sharing.

IG stands out in education, providing various resources like videos, articles, webinars, and DailyFX guides. The IG Academy offers courses based on experience levels, complete with progress tracking and quizzes.

Their IG Community, consisting of 64,000+ members, adds crowd-sourced educational content. In summary, IG’s educational offerings are comprehensive and in my experience leave little room for improvement.

Which type of day trader is IG best for?

I recommend IG for retail forex and CFD traders seeking a trusted day trading broker with top-notch tools, research, and access to a wide range of global markets, offering over 19,500 tradeable assets.

Their web trading platform is among the best available, making IG suitable for all types of day traders.

Read my full IG review.

Key rating criteria:

Minimum depositS&P 500 CFD
spread (average)
CommissionTypes of assets
£2500.4VariesReal stocks & ETFs, exchange-traded securities,
CFDs (currency pairs, stock indices, stocks, ETFs,
commodities, crypto, bonds, and futures)

Pros:

  • Premium web trading platform
  • Excellent educational resources

Cons:

  • High stock fees

6. XTB – Best for advanced day traders

XTB - Best day trading broker for advanced day traders

XTB provides exceptional customer service, a vast range of forex and CFDs, and a superior trading experience through its feature-rich xStation 5 platform and extensive educational resources.

Is XTB safe?

XTB is authorised and regulated by the Financial Conduct Authority (FCA) and the European Union via MiFID.

It is listed on the Warsaw Stock Exchange and offers negative balance protection.

What can I trade on XTB?

You can trade CFDs on 1,848 stocks, 135 ETFs, 22 commodities, 36 indices, 5 cryptocurrencies, and 57 forex pairs.

XTB offers a total of over 6,010 tradeable instruments.

Does XTB charge commissions and fees?

XTB delivers low trading fees and has standard non-trading fees. While they often don’t charge a withdrawal fee, they do have an inactivity fee. You can trade real stocks and ETFs without commission if your monthly trade is under €100,000.

  • S&P 500 CFD (average spread): 0.6 points
  • EURUSD (average spread): 1 pip

Mobile trading app?

XTB’s xStation 5 mobile app outperforms the MetaTrader 4 app in the forex market. It provides streaming news, watchlists, an economic calendar, and long webinar-style videos.

However, the app’s charts have flaws: they don’t sync watchlists with the web and offer just 13 indicators, but they do save trend lines automatically and simplify adding indicators.

Trading platforms?

XTB mainly recommends the xStation 5 platform, known for its design and features, but provides MetaTrader 4 in some places. xStation 5 has charting tools such as a candlestick countdown timer and shows economic news.

The platform works on many devices and has tools like heat maps, stock screeners, and data on XTB client trading positions.

Research tools and educational content?

XTB provides quality research from its team and other sources but has fewer daily English posts than leading brokers. Their Premium Research service offers unique strategies, news headlines, an economic calendar, and market sentiment tools.

However, XTB’s platform doesn’t easily differentiate between its articles and those from third parties.

The day trading broker provides extensive educational resources, including articles, videos, and webinars. Their “Learn To Trade” section features 200 lessons, tutorials, and exclusive content for live accounts.

The academy covers forex and CFD topics, offers quizzes, and has a Masterclass video series on its platform and YouTube.

Which type of day trader is XTB best for?

XTB is a great option for traders specialising in forex and CFDs, valuing efficient account processes and versatile transaction options.

Key rating criteria:

Minimum depositS&P 500 CFD
spread (average)
CommissionTypes of assets
£00.60%Forex, indices,
commodities, stocks,
ETFs, CFDs

Pros:

  • Commission-free stocks and ETFs for investments up to 100k per month
  • Free and quick deposit and withdrawal process

Cons:

  • Primarily limited to CFDs
  • Inactivity fees

7. AvaTrade – Best for forex day trading

AvaTrade - Best broker for forex day trading

AvaTrade is renowned for its diverse trading platforms for day trading, superior educational content, copy trading tools, competitive mobile features, and industry-standard pricing and research.

Is AvaTrade safe?

AvaTrade is authorised and regulated by the Australian Securities & Investment Commission (ASIC), Canadian Investment Regulatory Organisation (CIRO), Japanese Financial Services Authority (JFSA), and the European Union via MiFID.

AvaTrade provides negative balance protection. 

What can I trade on AvaTrade?

You can trade CFDs for stocks, indices, forex, and commodities.

AvaTrade offers a total of over 1,260 tradeable instruments.

Does AvaTrade charge commissions and fees?

AvaTrade charges low fees for CFDs and average fees for forex. While deposits and withdrawals don’t have fees, there’s a £50 inactivity fee every quarter after 3 months of no activity. They don’t charge a commission for FX per lot.

  • S&P 500 CFD (average spread): 0.5 points
  • EURUSD (average spread): 0.9 pip

Mobile trading app?

AvaTrade provides mobile platforms like AvaTradeGO, AvaOptions, and the MetaTrader suite. The AvaTradeGo app has watchlists and a feature named AvaProtect, but its charts, with 93 indicators, miss drawing tools and have few chart types.

The AvaOptions app has a smart design but only works in landscape mode.

Trading platforms?

if you’re looking for a large selection, you’ll get access to numerous platforms such as AvaTrade WebTrader, AvaOptions, MetaTrader, ZuluTrade, and DupliTrade. The WebTrader platform offers 90 chart indicators, competitive with industry leaders.

AvaTrade is perfect for copy trading with platforms like ZuluTrade, DupliTrade, and the recent AvaSocial launch in the U.K. through a partnership with Pelican Exchange.

Professional options traders can access AvaOptions with a $1,000 minimum deposit, but the platform’s complex layout requires a redesign.

Research tools and educational content?

AvaTrade offers daily research content in video and articles and gives access to Trading Central research modules. While they have improved, their research doesn’t match the best day trading brokers.

The main focus is Trading Central, with features like Market Buzz and Analyst Views, and they also provide daily market analysis articles and videos on their blog and channels.

Which type of day trader is AvaTrade best for?

I’d recommend AvaTrade for beginner day traders or experienced traders who value a wide range of trading platforms and educational content.

Read my full AvaTrade review.

Key rating criteria:

Minimum depositS&P 500 CFD
spread (average)
CommissionTypes of assets
£1000.50%Forex, stocks,
commodities, indices

Pros:

  • Extensive social integrations
  • Research tools
  • Social and copy trading platforms
  • No trading commissions and low spreads

Cons:

  • Limited selection of available assets
  • Variety of platforms might cause inefficiency for some traders

8. Pepperstone – Best for AI trading analysis & automation

Pepperstone - Best for AI trading analysis & automation.

Pepperstone provides a vast array of tradeable markets, quality research, support for social copy trading, and integrates platforms like TradingView, cTrader, and MetaTrader, further enriched by a broad selection of third-party tools and plugins.

Is Pepperstone safe?

Pepperstone is authorised and regulated by the Financial Conduct Authority (FCA), Australian Securities & Investment Commission (ASIC), and the European Union via MiFID.

Pepperstone provides negative balance protection for forex spot and CFD trading.

What can I trade on Pepperstone?

You can only trade forex and a range of CFDs (commodity, stock index, ETF, share, and crypto). Real stocks and ETFs are not available.

Pepperstone offers a total of over 2,342 tradeable instruments.

Does Pepperstone charge commissions and fees?

Pepperstone delivers affordable forex and non-trading fees, with no inactivity or account charges. However, some CFD financing rates are relatively high for specific assets, and there is a $3.50 FX commission per lot per trade, along with a 0.10% commission in addition to the spread.

  • S&P 500 CFD (average spread): 0.4 points
  • EURUSD (average spread): 0.1 pip

Mobile trading app?

Pepperstone provides various third-party mobile trading apps like TradingView, MetaTrader (MT4 and MT5), and cTrader for Android and iOS.

However, the top-rated day trading brokers often stand out by offering their custom mobile apps with exclusive features and benefits, setting them apart from the competition.

Trading platforms?

You’ll have access to a diverse selection of third-party trading platforms, such as MetaTrader (MT4 and MT5), cTrader, and TradingView.

Both cTrader and MetaTrader support algorithmic trading but with some distinctions.

Additionally, Pepperstone offers practical trading tools like Smart Trader Tools plugins, Capitalise.ai, Autochartist, and API trading, as well as social copy trading options through myFxbook and DupliTrade (excluding the EU), which requires a $5,000 minimum balance.

Research tools and educational content?

Pepperstone provides research content in video and written formats, with quality slightly above the industry average but not on par with category leaders.

Traders have access to in-house content, third-party tools like Autochartist and Delkos, and MetaTrader add-ons called Smart Trader Tools.

Pepperstone’s research comprises daily articles and videos covering technical and fundamental analysis, available on their website, YouTube channel, and cTrader platform for streaming news headlines.

Pepperstone provides numerous archived webinars and videos but falls short in written content compared to leading educational providers.

They offer approximately 40 trading guide articles, around a dozen platform tutorials, and frequent webinars.

Which type of day trader is Pepperstone best for?

Pepperstone is an excellent day trading broker for both beginner and experienced forex CFD traders, thanks to its wide range of markets, support for third-party platforms like MetaTrader and cTrader, and low minimum deposit requirements. However, a unique proprietary platform would push it up my list.

Read my full Pepperstone review.

Key rating criteria:

Minimum depositS&P 500 CFD
spread (average)
CommissionTypes of assets
£00.40.10% plus spreadForex, commodities, indices,
currency indices, crypto,
stocks, ETFs

Pros:

  • No minimum deposit requirement
  • Excellent customer service
  • Funds are segregated from other users for additional security

Cons:

  • Limited to CFD trading
  • Does not accept cryptocurrency payments
  • No penny stocks

9. CMC Markets – Best for selection of currency pairs

CMC Markets – Best day trading broker for selection of currency pairs.

CMC Markets, established as a comprehensive day trading broker, excels in offering a wide array of financial instruments, making it a top choice for both beginners and seasoned traders in the UK.

The platform is regulated by the UK’s Financial Conduct Authority (FCA) and listed on the London Stock Exchange, ensuring a secure trading environment.

With access to over 12,000 tradable assets, including an unrivaled selection of 333 currency pairs, CMC Markets provides one of the most extensive ranges in the market.

Their ‘Next Generation’ platform, noted for its user-friendliness, is available on Android and iOS, and offers advanced trading tools such as more than 115 technical indicators, over 70 patterns, and 12 chart types.

Additionally, the platform supports MetaTrader 4 for those who prefer this interface. A standout feature is the no minimum deposit requirement, making it accessible for all types of traders.

CMC Markets’ pricing structure is competitive, with low spreads and rebate programs for active traders. The platform also offers valuable features like negative balance protection and guaranteed stop losses.

Their extensive research and educational resources include a wide range of technical indicators and comprehensive charting options, alongside tools like pattern recognition scanners and advanced order execution.

While it has some drawbacks, such as high CFD spreads on certain indices and the absence of backtesting capabilities, CMC Markets compensates with benefits like a premium membership for savings on spreads, a complimentary Financial Times subscription, and interest on uninvested cash for CMC Alpha members.

All registered users receive a demo account with £10,000 virtual funds for practice, and despite not offering ISAs or SIPPs, it remains a robust broker for day trading with its diverse asset offerings and strong regulatory framework.

Minimum depositS&P 500 CFD
spread (average)
CommissionTypes of assets
£00.6$0.02 per shareCFDs on forex, stock indices, stocks,
ETFs, commodities, bonds, crypto

Pros:

  • Top-notch research and educational tools
  • Diverse selection of assets

Cons:

  • Customer support is only 24/5
  • Higher stock CFD fees

10. Saxo – Best for a selection of 71,000+ instruments

Saxo – Best day trading broker for a selection of 71,000+ instruments

Saxo Bank, a leading Danish brokerage, stands out as one of the best day trading brokers in the UK, renowned for its extensive range of financial products and sophisticated trading experience.

As the UK division of Saxo Bank, it provides investors with access to over 72,000 financial instruments from global markets, including stocks, bonds, ETFs, forex, CFDs, futures, commodities, and options.

Saxo Bank caters to a diverse range of investors with its multi-tiered platform offerings. Beginners can leverage the simplicity of SaxoInvestor, which provides curated stock lists and easy access to various asset classes.

More experienced traders can take advantage of the advanced features of SaxoTraderGO, an award-winning platform with enhanced charting tools, analysis options, and both mobile and desktop access.

For professional traders, SaxoTraderPRO offers a fully customisable, professional-grade experience with algorithmic orders, advanced charting, and workspace customisation across multiple screens.

The platform offers competitive, transaction-dependent fees and supports account opening in several major currencies, including USD, EUR, and GBP, across three account types: Classic, Platinum, and VIP.

The minimum initial funding requirement is £500. Saxo Bank is also known for its robust trading tools, real-time market insights, and professional-grade analytics, which empower traders to make informed decisions. Furthermore, it is regulated by top-tier authorities, including FINMA, ensuring a secure trading environment.

Traders at Saxo benefit from low transaction fees on higher trading tiers, with a range of account services available to suit different trading styles and needs. The platform’s connectivity to third-party tools, including advanced strategy backtesting and responsive charting, enhances its appeal.

With its commitment to best-in-class execution, competitive pricing, and a comprehensive suite of trading tools, Saxo Bank is a top choice for traders seeking a seamless and efficient trading experience in the UK market.

Read my full Saxo review.

Minimum depositS&P 500 CFD
spread (average)
CommissionTypes of assets
£00.5$0.02 per shareStocks, ETFs, forex, funds, bonds,
options, futures, CFDs, crypto

Pros:

  • Industry-leading research
  • Extensive range of offerings
  • Advanced charting

Cons:

  • No live chat
  • Does not offer MT4

11. Capital.com – Best for day trading CFDs

Capital.com – Best UK broker for day trading CFDs

Capital.com, established as a competitive day trading broker in the UK, excels in offering a vast array of CFD trading and spread betting options.

The broker supports an extensive selection of over 3,700 markets, encompassing stocks, forex, indices, commodities, and ETFs.

Known for its affordability, Capital.com requires a minimum deposit of just £20 for debit/credit card and e-wallet deposits, and £250 for UK bank transfers, without charging any deposit or withdrawal fees.

Traders on Capital.com benefit from 0% commission trading across all markets, with highly competitive spreads starting from 0.6 pips for popular pairs like EUR/USD.

The platform is integrated with TradingView, providing access to advanced charting capabilities and up to 75 technical indicators, ensuring top-notch execution quality.

For mobile trading, Capital.com offers dynamic apps tailored for different trading styles and educational purposes, including the innovative Investmate app for trading education.

One of the standout features of Capital.com is its commitment to client education and improvement.

The broker provides extensive educational tools, including guides, webinars, and videos, and allows users to open up to 10 demo accounts with £100,000 in virtual funds each, mirroring live market conditions.

This is especially beneficial for beginners to practice and test different trading strategies in a risk-free environment.

Capital.com’s MT4 integration offers access to all markets, including shares, which is a unique advantage over other day trading brokers.

The CFD trading app is another valuable tool, offering more than 70 technical indicators and the ability to set price alerts.

However, the broker has some limitations, such as a limited number of currency pairs and no price alerts on the web trading platform.

Regulated by multiple tier-1 authorities, Capital.com ensures a secure trading environment. Its combination of low costs, diverse market access, advanced trading tools, and strong educational support makes it an appealing choice for both beginner and experienced traders in the UK.

Minimum depositS&P 500 CFD
spread (average)
CommissionTypes of assets
$200.80%Forex, CFDs on stock indices, stocks,
ETFs, commodities, crypto

Pros:

  • Commission-free trading
  • Top-rated customer service

Cons:

  • No price alerts

How to Choose? Factors to Consider

Choosing the right day trading broker can make a significant difference in your trading experience and success.

Along with the key rating criteria I used to rank the brokers, here’s what to look for:

  • Regulation: Always ensure that the broker you’re considering is regulated by a reputable regulatory body. In the UK, for instance, look for brokers regulated by the Financial Conduct Authority (FCA). Regulation ensures that the broker is reliable and adheres to stringent standards of security and transparency.
  • Trading Instruments: Depending on your trading strategy, you’ll want a broker that offers a wide range of instruments. Some traders focus on specific assets like forex or stocks, while others prefer having a broader range of options, including commodities, ETFs, or indices.
  • Fees & Commissions: Consider the cost of trading on each broker. These can include spread costs, commissions, and any additional fees such as inactivity fees or withdrawal fees. Some brokers offer commission-free trades but may have wider spreads. Find a balance that suits your trading frequency and volume.
  • Trading Platform Technology: You’ll want a platform that’s user-friendly and comes with a suite of tools to support your trading decisions. This includes charting tools, real-time data feeds, and the ability to execute trades quickly. Consider whether the platform offers desktop, web-based, and mobile trading options.
  • Education & Research Tools: Especially for beginners, brokers that provide educational resources, research tools, and market analysis can be beneficial. Look for brokers with robust educational content, news feeds, market research, and analysis tools.
  • Customer Service: Good customer support can be critical, particularly for new traders. Check if the broker provides 24/7 customer service, and through what methods (e.g., phone, live chat, email).
  • Demo Account: A demo or practice account is a valuable tool, especially for beginners or when trying out a new broker. This feature allows you to practice trades and get comfortable with the platform’s interface before investing real money.
  • Leverage: Leverage can amplify your profits but can also increase losses. brokers offer different levels of leverage, so understand how much you’re comfortable with and pick a broker that aligns with your risk tolerance.
  • Order Types: A good day trading broker will offer a range of order types, including market orders, limit orders, stop orders, and more. These can help manage risk and improve trading strategies.
  • Reputation: Finally, consider the reputation of the broker. Read reviews from other users, look at ratings on sites like Trustpilot, and gather as much information as you can.

Remember, what works best for one trader might not be the best for another. It’s essential to identify your trading needs and objectives before selecting the right day trading broker for you.

Final Thoughts

Selecting the right day trading broker in the UK is an essential step towards a successful trading career. Your choice of broker should align with your trading style, financial goals, and market interests.

In this article, I have discussed some of the top brokers each offering unique features, competitive pricing, and robust tools to optimise your day trading.

While AvaTrade excels in forex and CFDs trading, Pepperstone offers notably low spreads, and IG stands out with its extensive spread betting markets. eToro is the best day trading broker for beginners.

Always remember, though, that day trading is a high-risk endeavor and requires a thorough understanding of markets and strategies.

In the end, the best broker for you is one that fits your individual needs and trading aspirations.

FAQs

What’s the best app for day trading UK?

For day trading in the UK, eToro is a standout choice. Known for its robust social trading features, it allows traders to mirror or copy the trades of successful peers. Additionally, eToro offers a user-friendly interface, a wide range of assets, and a feature-rich mobile app. These, combined with a strong educational resource base, make eToro an excellent platform for both beginner and experienced day traders.

What broker do professional traders use UK?

In the UK, many professional traders prefer using IG as their broker of choice. IG provides a wide variety of trading instruments, competitive spreads, and advanced tools that cater to the intricate strategies employed by professional traders. Its reputation for reliability and a long-standing history since 1974 also adds to its appeal among experienced traders.

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Sources:

  1. https://www.finder.com/uk/investment-statistics ↩︎
  2. https://www.statista.com/statistics/1262787/etoro-registered-users/ ↩︎

Will Fenton is the founder of Sterling Savvy. He is a personal finance expert and writes about trading, investing, budgeting, and other financial topics.

Along with his education in Economics & Finance, he has experience working in the financial services industry in London working for one of the UK’s leading financial companies, “a trustworthy and respected provider of news, education and market analysis for the everyday investor”.

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