Which trading app has the lowest fees in the UK?
Verdict
- Pepperstone's app is our pick for low fees in the UK: Razor averages 0.1 pips on EUR/USD plus commission from £2.25 per side in GBP, Standard averages 1.1 pips with no commission, and there is no inactivity or account-keeping fee.
- Card, Apple Pay and Google Pay deposits are free from £10; Pepperstone's withdrawal table lists withdrawals as free, though its FAQ quotes £15 for an international wire.
- Rival apps mostly publish 'from' spreads: IG from 0.6, CMC Markets from 0.5, Spreadex from 0.6, FOREX.com from 0.7 and eToro from 1 pip on EUR/USD.
- Trading 212's CFD account is commission-free but lists a 0.5% FX fee, which can outweigh a tight spread on trades in other currencies.
The cheapest app is the one with the lowest total cost for your trading: spread, commission, currency conversion and account fees together. On the figures brokers publish, Pepperstone is the app whose typical costs we can verify, and they are low, so it is our pick, with the caveats below. We show the arithmetic so you can check it against your own trade size.
Why Pepperstone's app is our low-fee pick
Pepperstone publishes average spreads, not just minimums, which makes its costs easier to check. EUR/USD averages 0.1 pips on Razor and 1.1 pips on Standard; Razor commission is from £2.25 per lot per side on a GBP account ($3.50 in USD), and Standard has none except on shares. There is no inactivity or account-keeping fee, and card deposits are free. The app runs on all three UK accounts with Pepperstone Limited (FCA 684312).
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What one EUR/USD lot costs on the Pepperstone app
A standard lot (100,000 units) opened and closed in a USD account at $10 per pip, using published averages:
- Razor: 0.1 pips ($1) + $7 commission = about $8.
- Standard: 1.1 pips = about $11, no commission.
- Spread betting: no commission; the published EUR/USD minimum is 0.5, so cost depends on your stake per point and the live spread.
- Holding overnight adds financing; Pepperstone charges overnight fees on spread bets held past 10 pm UK time.
UK trading app fees side by side
A 'from' figure is the best price quoted, not what you typically pay, so a 0.5 minimum can cost more in practice than a 1.1 average. That is why we rank on Pepperstone's published averages, while noting we hold no averages for its rivals.
| App | EUR/USD figure | Type of figure | Other fees to note |
|---|---|---|---|
| Pepperstone | Razor 0.1 + commission; Standard 1.1 | Average | No inactivity fee |
| IG | From 0.6 points | Minimum | Card minimum £1 |
| CMC Markets | From 0.5; FX Active from 0.0 + 0.0025% | Minimum | — |
| Spreadex | From 0.6 points | Minimum | £5 minimum deposit |
| FOREX.com UK | As low as 0.7 | Minimum | £100 minimum deposit |
| eToro | From 1 pip | Minimum | — |
| Trading 212 (CFD) | Dynamic spreads, no commission | Not published | 0.5% FX fee |
| Capital.com | Live spreads only | Not published | 20 GBP minimum deposit |
Fees that are easy to miss
- Currency conversion: trading US shares from a GBP account may carry a conversion charge. Pepperstone lets you hold USD as a base currency.
- Share commission: Pepperstone's Standard account is commission-free except on shares (0.10% per side on UK shares).
- Withdrawals: Pepperstone's table lists them as free, but its FAQ mentions £15 for an international wire. Check before you send money abroad.
- Financing: overnight fees can outweigh spread savings if you hold positions for weeks.
Sources
Fees as published by each broker.
Does Pepperstone charge an inactivity fee?
No. Pepperstone has no inactivity or account-keeping fee, though accounts under 10 currency units and unused for three months or more may be archived.
Is a commission-free app always cheaper?
No. Commission-free apps charge through the spread, and some add other fees, such as Trading 212's 0.5% FX fee on its CFD account. Compare the total cost of your typical trade.
What is the minimum deposit for the Pepperstone app?
£10 by debit or credit card, Apple Pay or Google Pay. Bank transfers have no minimum.
CFDs and spread bets are complex instruments and come with a high risk of losing money rapidly due to leverage; Pepperstone says 73.6% of retail investor accounts lose money when trading spread bets and CFDs with it. Consider whether you can afford to take that risk. Nothing here is investment advice.