How to choose the best online broker in the UK

Choosing the right online broker is something that should be carefully considered. Many factors can influence the choice, from pricing, to an easy-to-use trading platform, to comprehensive client support. Find out more about what to look out for and discover the market-leading features we offer through our own service.

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What is an online broker?

An online broker is a digital platform that offers trading or investing services to its clients. These may be leveraged or unleveraged financial derivatives such as CFDs, spread betting or other financial products. Online brokers typically enable you to trade a range of asset classes such as forex, shares, commodities and indices.

The offerings of online brokers can be diverse, from the specific markets available and the pricing, through to the breadth of educational resources, support services and even regulatory practices.

How to choose an online broker

When choosing an online broker, the first important step is being clear on your expectations. For example, do you want to mostly trade shares or another asset class? Are you looking for the fastest execution? The most user-friendly platform? Comprehensive education and round-the-clock support? Understanding exactly what your priorities are will help your research.

The next step is to explore the brokers that can deliver the features you’re looking for. Consideration of factors such as industry award recognition, reviews from third-party sites, and positive user feedback, as well as satisfactory compliance practices, is important.

Overall, your level of experience in the markets, and your subsequent trading strategy, will likely dictate the type of broker you’re looking for. So if you’re new to the markets, you might seek an easy-to-navigate demo account to practise your trading for free, as well as an account offering the choice of unleveraged trading, to ease you into the markets with a lower level of risk.

Conversely, if you’re an experienced trader, you might want to consider a broker with an extensive range of technical indicators for a more granular view of price action, as well as content on advanced trading strategies.

Key factors that can influence your choice of broker

There are a number of points to look out for to determine your broker choice. Here are just a few of the key considerations.

Range and availability of markets: does the broker offer all the assets you are hoping to trade? Are there after-hours markets?
Costs: is the broker transparent about fees, and are the spread and other costs competitively priced?
Platforms: are the web and mobile platforms user friendly, intuitive and engaging? Does the broker offer seamless, integrated access to TradingView and MT4 for a choice of ways to trade?
Education: are there dedicated, expansive learning resources that can help you improve?
Client support: does the broker offer friendly, informative support through a range of channels, when you need it?

Why trade with us?

Our goal is to help you make better decisions in the markets, and our multi-award-winning,* user-friendly web trading platform and mobile apps are built with this goal in mind. Here are some reasons why many clients choose to trade with us:

An intuitive, user-friendly platform: access all the features you need, when you need them. Discover 75+ tools, a range of chart types, watchlists, live chat and more - and navigate between them with fuss-free functionality.
24/7 support: when you need assistance, our friendly and knowledgeable client support staff are there for you around the clock.
Free demo account: refine your strategies and develop your skills with zero risk to your capital.
Fair and transparent pricing: get full clarity on our fees and charges.
Comprehensive, award-winning education*: improve your trading knowledge with our free guides and courses.
TradingView and MT4: seamlessly integrate our smart platform with elite third-party software.
Rapid withdrawals: 98% of withdrawals are processed within 24 hours, according to our internal server data from 2023.

*Best in class in five categories at the 2024 ForexBroker.com Annual Awards.

FAQs

How do I open a trading account?

To open a trading account you first need to create and verify one. Once approved, you’ll then be able to deposit and take a position on a range of 3,000+ CFD and spread betting markets.

How much money do I need to open an account?

You only need to deposit £20 to open an account with us. However, you may need to deposit more in order to meet ongoing margin requirements for the positions you hold.

What are the fees I have to pay?

There are four fees that are payable, depending on how you trade. The first and main one is the spread, which is the difference between the buy and sell price of an asset, and is the main way brokers make money. Secondly, any guaranteed stop-loss is subject to a fee if the stop is triggered. You’ll also pay a fee for holding positions overnight. Finally, forex conversion fees are payable in some circumstances. For full details, breakdowns and clarification of fees please visit our charges and fees page.