The Online Brokers of the Top London Traders

When it comes to UK brokerages, the standards are high. These brokers cater to the top traders and have built a reputation of providing high-quality platforms and complying closely with regulatory authorities.
Broker Overall rating Min deposit Fee Rating Customer service quality
74% of retail CFD accounts lose money
73% of retail CFD accounts lose money

Online Trading Brokers in a Financial Capital of the World

London is one of the financial capitals of the world. The city has been a home for trading and investing activities since the dawn of the financial markets. The city is also home to a booming financial services sector and market movements is a regularly discussed topic anywhere from the pub to the subway. With the move towards online trading, increasing amounts of traders are moving to internet-based services.

With a much easier process for setting up online businesses, brokerages have flooded the online services world. The wide range of options can make it difficult for users to choose one that fits their trading needs. However, there are certain qualities some brokers have which has proven to result in better user experience. The top brokers in the United Kingdom (UK) have demonstrated the tendency to be authorised and regulated in the jurisdictions where they operate. The Financial Conduct Authority (FCA) provides regulatory oversight to the activities in the UK. The very best brokers have made sure that their activities in other locations are also regulated by the relevant regulatory bodies.
The top brokers also provide their users with a wide set of tools to assist in analysing the market. When getting involved in the markets, especially in the beginning, there is a high risk of traders losing money. The top brokers have not only disclosed this to their customers but have also provided them with tools to help them overcome this.
eToro is a relatively new company but has been quickly building a reputation as atrusted financial broker. The company started in 2007 and made a name for itself with its idea of social trading. Social trading allows eToro users to review the performance and portfolio of other users.

However, the reputation of the services eToro provides extend far beyond social trading. They provide access to multiple markets and their platforms allow traders to  speculate in the markets directly from their browser. Users can trade in the stock, forex, and commodities markets.

eToro started providing access to the cryptocurrency markets in 2017. This new asset class has succeeded in capturing the imaginations of traders. The double-digit percentage price movements have been a welcome sight to professional traders while often serving as an expensive education to new traders. A wide variety of cryptocurrencies are available to trade on eToro including Bitcoin, Ripple, and Ethereum.
City Index has proven to be a solid broker choice among users worldwide. The broker provides spread betting services, CFDs, and also access to the forex markets. On top of this, City Index has offices worldwide including Singapore, Australia, and Dubai. The actual headquarters are in London and the broker is, of course, regulated by the FCA. The money that users deposit is separated into different accounts. Users also can
be compensated for up to £ 85,000 if City Index goes bankrupt.

One of the most attractive features of City Index is that it caters for a wide variety of potential users. Users can choose to set up a number of different accounts. There are three different tiers of accounts. Professional traders with an account balance of at least €500,000 can avail of low fees, margin requirements as low as 0.25%, and also acquire a £ 1,000 trading bonus. Other accounts will be more suitable for traders who
are closer to the start of their trading ventures.

There is also a wide array of trading platforms that traders can make use of. Traders can manage positions directly from a web-based platform or trade directly from the highly popular MetaTrader4 (MT4) desktop software. City Index also provides a more powerful desktop application for professional traders. This more powerful software, called AT Pro, allows traders to make advanced order types and has a real-time news feed flow from Reuters.
It is worth noting that traders in the United States and Canada will not be able to access the services of City Index. If users in this location search for City Index online, they will be redirected to is also owned by Gain Capital and has built a trustworthy reputation.
Gain Capital is a publicly listed company with shares trading on the New York Stock Exchange. This means that both City Index and benefit from the corporate governance, regulatory oversight, and reporting requirements that publicly listed companies are subject to. Both City Index and are top considerations for any trader to use.
X-Trader Broker (XTB) is another publicly traded company that is authorised and regulated to provide services to a wide variety of customers worldwide. Although headquartered in Poland, the company is regulated by the FCA and is a top consideration among UK customers. The broker provides its users with access to CFD products for a variety of different markets. This includes access to equities, forex, commodities, and even cryptocurrencies.

In terms of trading platforms, users of XTB can use MT4 or also have the option to use XTB’s own proprietary platform xStation 5. Both trading platforms provide traders with access to a wide range of tools to assist in achieving an edge in the markets.
The final broker on our list is also the oldest. IG Group has been building a reputation since 1974. Founded in the UK, the company is currently listed on the FTSE 250. The company is overseen by the FCA and has also been authorised by numerous other regulators worldwide in the jurisdictions where it operates.

Similar to City Index, IG Group caters for a wide variety of traders. Their most advanced tier facilitates direct market access (DMA) which allows traders to benefit from the lowest possible spread. MT4 is another option also available to all IG Group users. IG Group also caters for users who wish to trade directly through the web and have a web-based platform where traders can execute orders directly from their browser.

Pro's and Con's

Broker Pro's Con's
  • Offers largest social trading network
  • User friendly platform
  • Regulated by UK, Cyprus and Australia,
  • Poor customer support
  • No scalping
  • Platform does not allow use of MT4
  • Founded 1983 and offers its clients an array of CFDs and spread betting instruments. Owned by GAIN Capital Holdings, and regulated in three major jurisdictions
  • Created numerous CFDs for cryptocurrencies, including cryptos other than Bitcoin.
  • Proprietary web trading index called ‘Advantage Web’ that gets good reviews from their clients
  • GAIN Capital Holdings also owns, but if a trader wants to use both City Index and, they are required to open two accounts
  • The spreads offered on MT4 are higher than other brokers
74% of retail CFD accounts lose money
  • Provides services to users in the United States
  • Provides access to markets which most online brokerages do not provide access to
  • A powerful suite of trading platforms suitable to traders of all levels
  • No negative balance protection
  • No CFD trading available in the United States
  • Accounts with the lowest fees require large trade sizes
73% of retail CFD accounts lose money
  • FCA Regulated. Quick account opening process with easy funding methods
  • Extensive education section combined with user videos
  • Offers MT4 and proprietary X-Station with options for Expert Advisor
  • Focused around CFD and Forex
  • Maximum leverage is not the highest available
  • Long track record in the CFD industry. Listed on the LSE, regulated in numerous jurisdictions
  • Offers a huge number of CFD’s (10,000+) in a variety of markets
  • Very affordable initial deposit of £250 for UK clients
  • Own research division, which is a benefit to its clients
  • Unless you live in the UK or Australia, you will only be able to trade CFDs
  • Doesn’t allow clients to select their level of leverage, defaults to the maximum allowed by regulators

Understanding the Risks and Choosing the Best

The very best London traders understand the risk of losing money while trading is high. That’s why they make sure to take advantage of every edge available to them in the market. Choosing the right broker that have the best platforms, best fees, and the highest security standard is a key part of this. All of the brokers included in this list meet these standards and that’s why they have ranked well among London traders.