Which CFD broker is best overall in the UK?
Verdict
- Pepperstone is our best overall CFD broker in the UK. It is FCA-regulated, FSCS cover reaches £85,000 for eligible clients, and it offers five platforms and a £10 card minimum.
- Pepperstone's biggest gap is that it sells no guaranteed stop-loss orders. Capital.com, our second choice, does.
- Pepperstone lets one client hold Razor, Standard and spread-betting accounts at the same time. Its account table counted 1,444 CFDs in March 2025.
- Retail limits are the same at every FCA broker: 1:30 on major FX, 1:20 on major indices and gold, 1:10 on other commodities and 1:5 on shares.
'Best overall' means the broker you would still choose after weighing safety, cost, range, platforms and funding together, not the winner on one number. On that broader test, Pepperstone comes out ahead for most UK CFD traders. Here is why, where it falls short, and when Capital.com is the better choice.
Why Pepperstone is our overall pick
Pepperstone does well in all five areas without a clear weak spot except guaranteed stops.
- Safety: UK accounts sit with Pepperstone Limited (FCA 684312, company 08965105) in the City of London. Client money is segregated, FSCS cover reaches £85,000 for eligible clients, and retail balances are reset to zero if they go negative.
- Cost: Razor averages 0.1 pips on EUR/USD plus £2.25 per lot per side in GBP. Standard averages 1.1 pips with no commission.
- Range: the March 2025 account table lists 93 FX pairs, 26 indices, 40 commodities, 1,162 shares and 95 ETFs as CFDs.
- Platforms: Pepperstone's web platform and app, MT5 and cTrader on every CFD account, with MT4 and TradingView on Razor.
- Funding: base currencies are GBP, USD, EUR and CHF. Card, Apple Pay and Google Pay deposits start at £10 and are free.
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Pepperstone and Capital.com side by side
Capital.com is the only other firm we rank for UK CFD traders. Both firms are FCA-authorised and both offer spread betting, so they differ mainly on order types, platforms and pricing transparency.
| Pepperstone | Capital.com | |
|---|---|---|
| UK company and FCA ref. | Pepperstone Limited, 684312 | Capital Com (UK) Limited, 793714 |
| Minimum deposit | £10 | £20 |
| Published EUR/USD cost | Razor 0.1 pips avg + commission; Standard 1.1 pips avg | Live spreads only |
| Guaranteed stop-loss | Not offered | Offered |
| Negative balance protection (retail) | Yes | Yes |
| Platforms | Own web and app, MT4, MT5, cTrader, TradingView | Web, app, MT4, MT5, TradingView |
| Spread betting | Yes | Yes |
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Where Pepperstone falls short
- No guaranteed stops. Pepperstone's UK terms say it can't guarantee that a stop-loss fills at your level, so a price gap can cost more than you planned.
- Crypto is not available to retail clients. The FCA has banned crypto derivatives for retail clients since 6 January 2021, and Pepperstone offers crypto only to Pro clients. The ban applies to every UK broker.
- Its own figures don't agree. Different UK pages give 1,444 CFDs, '1350+ markets' and 'more than 2700 spread bets and CFDs'. Support is described as 24/7 on one page and as 24 hours on weekdays plus 18 at weekends on another.
- Perpetual CFDs are for Pro clients only on the UK site.
Choosing between Razor and Standard
If you trade FX often or run expert advisors on MT4, choose Razor: it has the lowest average cost, and it is the only CFD account with MT4 and TradingView. If you trade a few times a month and want one all-in price, choose Standard. Its spread carries a 1-point mark-up on FX, and there is no commission except on shares. You can open both and compare live quotes before you commit much money.
Sources
Is FSCS protection automatic at Pepperstone?
Pepperstone says eligible clients are covered up to £85,000. Eligibility depends on the claim and on who you are, so read the protection page before relying on it.
Can I hold a CFD account and a spread-betting account at Pepperstone together?
Yes. Pepperstone's UK accounts page says you can hold spread-betting, Standard and Razor accounts at the same time.
Does the best overall broker charge for inactivity?
Pepperstone doesn't. Accounts holding less than 10 units of currency that have been unused for three months or more may be archived.
Trading CFDs on margin can lose you money quickly, and leverage magnifies losses as much as gains. Pepperstone Limited reports that 73.6% of retail investor accounts lose money when trading spread bets and CFDs with it. Only trade with money you can afford to lose. Nothing here is personal investment advice.