Brokers With Commission-Free Investing
Commission-free stock trading has risen in popularity in the UK. This comes with a clear benefit to investors – lower trading and management fees. As a result, the top platforms and brokers with commission-free investing are attracting beginners and experienced traders alike.
In this guide, we cover what commission-free investing means, its pros and cons, plus what to look for in a low-cost brokerage. We have also compiled a list of the best brokers with commission-free trading in 2024.
Low Cost Trading Brokers
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Freetrade is a London-headquartered investing platform that offers zero-commission trading on thousands of UK, European and US stocks and ETFs through a beginner-friendly platform. Open a standard investment account, a self-invested pension or a stocks and shares ISA and start building a portfolio from as little as £2.
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IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.
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Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for traders at all levels.
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Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
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Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
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FXCC is an established broker that’s been offering low-cost online trading since 2010. Registered in Nevis and regulated by the CySEC, it stands out for its ECN trading conditions, no minimum deposit and smooth account opening that takes less than 5 minutes.
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BlackBull is a New Zealand-based CFD broker with trading opportunities on forex, stocks, indices, commodities and cryptos. The broker supports the MetaTrader 4 and 5 platforms as well as TradingView, cTrader and a proprietary mobile app. Clients can trade with high leverage and tight spreads from 0 pips on the broker's ECN accounts.
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City Index is an established and award-winning forex, CFD and spread betting broker with top-tier global regulation, including in the UK (FCA) and Australia (ASIC). With 30+ years in the industry, 13,500+ instruments and 24/5 customer support, City Index is a solid pick for aspiring traders.
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RoboMarkets is a Cyprus-based forex, CFD and stock broker aimed at traders from Europe. The broker offers thousands of instruments across six asset classes and provides access to four leading platforms, including MetaTrader 4. With ECN pricing, Cent accounts and algorithmic trading tools, RoboMarkets caters to a range of trading strategies and investing styles.
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Established in 1989, CMC Markets is a respected broker listed on the London Stock Exchange and authorized by several tier-one regulators, including the FCA, ASIC and CIRO. More than 1 million traders from around the world have signed up with the multi-award winning brokerage.
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Founded in 2009, Vantage offers trading on 1000+ short-term CFD products to over 900,000 clients. You can trade Forex CFDs from 0.0 pips on the RAW account through TradingView, MT4 or MT5. Vantage is ASIC-regulated and client funds are segregated. Copy traders will also appreciate the range of social trading tools.
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Webull is a multi-regulated trading app that offers stocks, options, forex, cryptos, ETFs, fractional shares and more. The firm is authorized by the SEC, FINRA and FCA and continues to uphold a strong trust rating. Low fees, no minimum investment and generous welcome bonuses have made the discount broker popular with online investors.
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Founded in 2002 in Poland, XTB now serves more than 1 million clients. The forex and CFD broker combines a heavily regulated trading environment with an extensive selection of 6400+ assets and a commitment to trader satisfaction, featuring an intuitive in-house platform with superb tools to support aspiring traders.
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IronFX is a multi-regulated forex and CFD broker founded in 2010. This award-winning firm offers 500+ markets to over 1.5 million clients across 180 countries. Traders can access various account types with competitive pricing on the MT4 platform, as well as 24/5 customer support in 30 languages.
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Established in 2005 in Australia, FP Markets is an ASIC- and CySEC-regulated broker boasting an extensive suite of tradable assets. Its Standard and Raw accounts cater to traders at every level, while it packs a punch in the tooling department, from the MetaTrader suite and intuitive TradingView to actionable trading ideas from Trading Central and AutoChartist.
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Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
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FinPros is an offshore broker that provides CFD trading on 400+ instruments with high leverage up to 1:500. This is a reliable bet for traders seeking offshore options, with strong security measures, negative balance protection and segregated client funds. The extra features including trading tools and commission-free stocks make this a good choice for beginners, and experienced traders will appreciate tight spreads.
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Established in 2017, Pocket Option is a binary options broker offering high/low contracts on forex, stocks, indices, commodities and cryptocurrencies. With over 100,000 active users and a global reach, the platform continues to prove popular with budding traders.
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Admirals is a multi-regulated broker with an excellent range of leveraged instruments, including forex, stocks, indices, ETFs, commodities, cryptos and more. The broker supports the MetaTrader 4, MetaTrader 5 and TradingCentral platforms. With both spread betting and CFDs available and thousands of instruments, this broker provides more flexibility than most rivals.
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Fusion Markets is an online broker established in 2017 and regulated by the ASIC, VFSC and FSA. It is best known for its low-cost forex and CFD trading, although its multiple account types and copy trading solutions cater to a range of traders. New clients can sign up and start trading in 3 easy steps.
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Eightcap is an award-winning, FCA-regulated broker offering industry-low trading fees. They are also the highest-rated brand by TradingView’s 50 million-strong users, who can trade directly on the platform. UK traders can sign up for a live account with an accessible £100 minimum deposit.
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Founded in 2010, ThinkMarkets is a reputable CFD and forex broker with regulation from several top-tier bodies including the FCA and ASIC. The broker provides services to over 450,000 accounts from 11 global offices. Traders can use a bespoke platform, MT4 or MT5 to access a wide variety of assets including 3500+ stocks and ETFs, 46 forex pairs and over 20 cryptocurrencies.
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Trading 212 is a European and UK-regulated CFD broker that also offers stock investing and ISAs. It’s best known for its commission-free trading model and beginner-friendly app, which has helped it attract 2.5 million users and £3.5 billion in client assets.
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OANDA is an award-winning global broker, established in 1996. The hugely respected brand offers competitive trading accounts and serves clients from 196 countries. It remains a popular option with both beginners and experienced traders thanks to its user-friendly and sophisticated web platform, no minimum deposit and premium currency products and services. The company is also overseen by reputable regulators, including the FCA, ASIC and CIRO.
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NinjaTrader is a US-headquartered and regulated brokerage that specializes in futures trading. There are three pricing plans to suit different needs and budgets, as well as ultra-low margins on popular contracts. The brand's award-winning charting software and trading platform also offers a high-degree of customization and superb technical analysis features.
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Trade Nation is a top FX and CFD broker regulated in multiple jurisdictions including the UK and Australia. The firm offers low-cost fixed and variable spreads on 1000+ assets with robust trading platforms and training materials. The Signal Centre can also be used for trade ideas.
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Firstrade is a US-headquartered discount broker-dealer with authorization from the SEC. The company is also a member of FINRA/SIPC. With welcome bonuses, powerful tools and apps, plus commission-free trading, Firstrade Securities is a popular online brokerage. It is also quick and easy to open a new account.
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AdroFx is an offshore ECN/STP broker that has offered CFD trading since 2018. The firm supports 100+ tradable assets on the popular MetaTrader 4 platform as well as a web trader, Allpips. Eight live accounts are available with no restrictions on trading strategies.
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RoboForex is an online broker, established in 2009 and registered with the IFSC in Belize. Traders can choose from five accounts (Prime, ECN, R StocksTrader, ProCent, Pro) catering to different needs with trades from 0.01 lots and spreads from 0 pips. RoboForex has also enhanced its offering over the years, adding CFD instruments and launching its stock trading platform, plus the CopyFX system.
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PrimeXBT is a multi-asset platform offering highly leveraged trading in forex, indices, commodities and cryptocurrencies. The company launched in 2018 and now has over 1 million users from more than 150 countries. With no minimum deposit, copy trading features and low commissions, the broker remains a popular option among crypto trading novices.
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eToro is a top-rated multi-asset platform which offers trading services in thousands of CFDs, stocks and cryptoassets. Launched in 2007, the brand has millions of active traders globally and is authorized by tier one regulators, including the FCA and CySEC. The brand is particularly popular for its comprehensive social trading platform. Cryptoasset investing is highly volatile and unregulated in the UK and some EU countries. No consumer protection. Tax on profits may apply. 51% of retail CFD accounts lose money.
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Markets.com is a respected broker, offering multi-asset trading opportunities through CFDs or spread betting (UK only). Established in 2008, the brand has an impressive 4.3 million registered customers and is overseen by trusted regulators, including the FCA, ASIC and CySEC. 79.1% of retail accounts lose money.
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Zacks Trade is a FINRA-regulated US broker offering trading on stocks, ETFs, cryptocurrencies, bonds and more through a proprietary terminal. The broker is geared toward active traders and offers very affordable fees on most assets as well as an app and a vast amount of market data.
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Amega is an offshore STP broker offering CFD trading fon forex, stocks, indices and commodities with very high leverage up to 1:1000 and a zero-commission pricing structure. Traders access markets through the MT5 platform and can test the broker's services through a demo account.
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Errante is a Cyprus-based and regulated forex and CFD broker with leveraged trading on multiple assets, tiered accounts including a zero-spread option, and copy trading support. The broker offers leveraged trading up to 1:30 under its CySEC-regulated branch and 1:500 from an offshore branch, and supports the MetaTrader 4 and MetaTrader 5 platforms. Errante's asset list is relatively limited but it does offer fast execution and low latency, and it is a trustworthy brand.
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Uphold is a digital asset platform offering a range of services, from crypto trading and staking to payment cards that provides rewards and easy multi-currency payments. The company was established in 2015 and has enabled $4+ billion in transactions. Uphold is now active in 180+ countries and deals in 200+ crypto and fiat currencies.
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Founded in 2015, VT Markets maintains its position as a top Australian multi-asset CFD broker. With 1000+ tradeable instruments and support for the MetaTrader 4 and MetaTrader 5 platforms, this broker delivers a wide range of trading opportunities to over 200,000 clients worldwide. VT Markets is regulated by the ASIC, FSCA, and FSC.
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xChief is a foreign exchange and CFD broker, established in 2014. The company is based offshore and registered with the VFSC and FMA. Users can choose between a wide selection of accounts and base currencies, making ForexChief accessible to global traders. The brand also stands out for its no deposit bonus and fee rebates for high-volume traders.
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Just2Trade is a reliable multi-regulated broker registered with FINRA, NFA and CySEC. The company has 155,000 clients from 130 countries and stands out for its huge suite of instruments and additional features, including a social network, robo advisors and a funded trader programme.
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Dukascopy is an online broker operated by a Swiss-regulated banking group. It offers a good selection of 500+ markets, with forex, stocks, gold, ETFs, indices, bonds and cryptocurrencies available. It also offers flexible trading opportunities through the choice of CFDs or binary options. Traders will use MetaTrader 4 or a proprietary platform that is well-suited to automated trading.
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FXTM is a forex and CFD broker established in 2011 and operating across four continents. The company is secure and regulated by leading authorities, including the FCA. Offering 1,000+ markets and three account types, they cater to all levels of trader.
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InstaForex is a forex and CFD broker founded in 2007. The broker offers diverse market coverage to millions of clients, spanning traditional assets like currencies and shares, as well as other interesting opportunities such as IPOs.
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OspreyFX is an ECN broker headquartered in St. Vincent and the Grenadines. Established in 2019, the firm offers 120+ forex and CFD assets with high leverage up to 1:500, tight spreads from 0.1 pips and round-the-clock customer support. OspreyFX also stands out for its funded trading accounts where traders can keep up to 70% of profits.
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Interactive Investor are a hugely respected, FCA-regulated investing firm. The trading platform is easy-to-use while the sign-up and deposit process is straightforward for new investors. ii also has a long track record and a string of industry awards under its belt.
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EagleFX is a forex and CFD broker, established in 2019. The broker uses STP execution on the MT4 platform, offering tight spreads and low commissions. With leverage up to 1:500 and no restrictions on hedging or scalping, EagleFX is an attractive option for short-term traders.
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Grand Capital is a MetaTrader broker with welcome bonuses, trading competitions and an intuitive copy trading service. Several account types and 400+ assets provide trading opportunities for various types of investors and strategies. New users can also open an account and start trading in a matter of minutes.
Commission-Free Trading Explained
Brokers typically apply a fee when investors place a trade. This is usually a flat fee on every buy or sell order, though it can also be a percentage of the order. At online brokers in the UK, this charge generally ranges from £1 to upwards of £10. In essence, the commission is the cost of making a trade.
Brokers with commission-free investing allow traders to place orders without such fees. This is particularly beneficial to those with less capital as flat commission fees can amount to a notable percentage of an investor’s overall trading portfolio.
Commission Vs Spread
A commission fee is different to the spread. Commissions are added on top when opening or closing a position. The spread is the difference between the bid and ask prices of a security, such as a FTSE-listed stock.
Typically, the bid price (the price you pay to buy a stock from a broker) is a little higher than the market value of the asset, and the ask price (the price the broker pays you when you sell the stock) is a little lower than the market value of the asset.
When opening and closing a position, the broker will pocket the difference between the actual market prices and the quoted prices.
How Do Brokers With Zero Commission Make Money?
But if brokers aren’t making money from commissions and offer low spreads, then how do they continue to operate? Brokerages incur a range of overheads and administrative fees for providing trading services, so they look to other channels to generate revenue…
Hidden Costs & Limitations
Some brokers with commission-free investing apply withdrawal fees – charging traders for withdrawing returns from their accounts.
Brokers may also only offer zero-commission trading on some assets, such as OTC stocks, while forex and cryptos, for example, incur a commission. Alternatively, you may only be able to trade commission-free for a set number of orders each month. Or it may be limited by the size of the order.
Another option is to offer wider spreads to traders. This means the broker will offer a bid price higher and/or an ask price lower than competitors, further away from the actual ticker price.
Subscription / “Freemium” Model
Some brokers with commission-free investing also adopt a subscription or “freemium” model. This is where the brokerage offers different tiers of service, with their more comprehensive, feature-rich accounts requiring regular fees to be paid in set intervals (usually monthly or yearly). Other trading platforms provide a free, basic account type with no frills.
So, while brokers may claim to have ‘free trades’ that are zero-commission, there may be other fees elsewhere in the account package.
Payment For Order Flow
There are other options for brokers to make money as well, such as Payment For Order Flow (PFOF). This is where brokers route client orders to market makers for execution, in return for a fee.
However, the Financial Conduct Authority (FCA) has banned this in the United Kingdom. This was done to protect investors because a PFOF network can create a conflict of interest between clients and brokers. Thus, it is best to make sure any brokerage you use is FCA-regulated.
How To Choose Brokers With Commission-Free Investing In 2024
There is no singular ‘best’ commission-free trading broker for all investors. Everyone is looking to trade with different amounts, in different assets, and with different experience levels.
Currently, the number of commission-free brokers is growing and choosing a provider has become more complicated than just looking for the lowest fees. With that in mind, we have compiled a list of other important considerations:
Platform
Every broker provides a platform for traders to place orders. Some brokers provide well-established platforms such as MetaTrader 4 or MetaTrader 5. However, for newer traders, these interactive platforms can look intimidating and complicated. As many zero-commission brokers aim to draw in less-experienced traders, they typically provide more user-friendly and accessible bespoke platforms.
Of course, there is still a fair share of firms that offer more complicated platforms, such as FXCM. But the good news is that most online brokers allow you to open a demo account. These accounts let you trade with virtual money, meaning you can get accustomed to the platform before risking real cash.
Ultimately, finding a trading platform that provides you with the features and accessibility you are looking for is key to improving your trading experience.
Mobile Investing
Along with having a platform you are comfortable with using on a desktop device, being able to access your account remotely through a mobile app is helpful. Most brokers with commission-free trading offer a mobile investing platform for both Apple and Android devices, but the level of quality and user-friendliness varies between providers.
Similar to desktop platforms, it could be worth creating a demo account to get a feel for the broker’s mobile app.
Assets
Brokers with commission-free investing provide access to different exchanges. Typically, brokers with no commission will offer access to fewer assets than those that charge a commission. For example, Freetrade offers a basic, free account with access to 1,500+ stocks, whereas their premium accounts have over 6,000 equities.
It is also worth noting that within the available assets, some brokers may only offer commission-free trading on a portion of them.
Research & Education
Research and education are recommended for traders looking to make smart investments. Informed decisions lead to greater chances of making profits, so finding brokers with commission-free trading that provides strong research tools can prove invaluable.
Newer traders should also look for brokers with educational services and training materials so that they can learn to trade effectively. These can include articles, tutorials, videos, books, journals and webinars.
Some brokers with commission-free investing also offer social platforms that allow correspondence and interaction between users. This allows for the sharing of thoughts and predictions on stock or market movements, as well as the freedom to discuss with experienced investors.
Along with this, it is common for brokers with social platforms to offer copy trading, allowing traders to ‘copy’ other investors’ portfolios, strategies and positions. This can be a bonus for beginner investors or those looking to trade without much time for research and study.
Customer Support
When you are trading with real equity, having a strong customer support system to fix problems and answer questions is important. It is also useful to know how you can contact the broker, whether it be through e-mail, phone number or social media platforms. The number of hours and days the support channels are open should also be considered.
Brokers with commission-free investing are often looking to cut costs so are more likely to have weaker customer support systems in place.
Other Fees
While you may be looking at commission-free brokers, this does not mean there won’t be any charges. As explained above, brokers often place fees in other parts of their service to enable them to offer zero commission trading. It is worthwhile checking to see where fees may apply, from payment charges and overnight financing costs to fees for premium trading tools.
Minimum Deposits
Generally, zero-commission brokers have relatively low minimum deposit requirements, with the more popular platforms’ ranging from just £1 to over £100.
If you have less to trade with at the beginning, you will have to consider this as it will limit the brokers you can choose from.
Regulation & Security
The Financial Conduct Authority (FCA) is the UK’s financial services and market regulator. As such, if you are looking to trade from the UK then finding brokers with commission-free investing that hold a license with the FCA is important. These brokers will adhere to the rules and regulations set by the FCA to protect you, the investor, from financial malpractice.
As with most accounts holding savings and investments, finding a broker that offers a mobile app or trading platform with heightened security features such as 2-factor authentication is also in your best interest to keep your money safe.
Currency
Not all licensed brokers regulated by the FCA use GBP as their portfolio currency. For example, eToro uses USD as the base currency, so if you deposit money, it will automatically convert to USD with a foreign-exchange fee.
If you plan to trade on foreign exchanges and platforms then it is worth considering each broker’s conversion fees.
Pros & Cons Of Brokers With Commission-Free Investing
Pros
- Zero-commissions can allow for cheaper portfolio diversification
- No restrictions on trading strategy or hedge systems
- Simplified and streamlined trading platforms
- Greater potential profit margins
- Lower minimum deposits
- Beginner-friendly
Cons
- Limited resources & research
- Access to fewer markets
- Wider bid-ask spreads
- Potentially hidden fees
Bottom Line On Zero-Commission Brokers In The UK
Zero-commission trading has taken off and the benefits are clear: cheaper buy and sell orders allow for greater profit margins and portfolio diversification. Typically designed for newer investors, the trading platforms offered by zero-commission brokers are normally more streamlined, accessible, and user-friendly. There are of course exceptions to this, with some zero-commission brokers offering advanced, feature-rich platforms designed for experienced traders.
The biggest drawback of zero-commission brokers may be the number of markets traders have access to. Those looking to invest in more exotic assets may have to look to more established, premium UK brokers such as Hargreaves Lansdown, or brokers specialising in those asset classes.
Ultimately, every brokerage provides different features to traders, and brokers with commission-free investing are no exception. Those looking for social investing platforms may have better luck with zero-commission brokers. Experienced investors looking to trade US shares may find IG to be more suitable with its advanced platform, zero-commission rates on US shares, and low 0.5% FX conversion fee.
Use our list of the best brokers with commission-free investing to get started now. Check out our detailed reviews or skip straight to the sign-up stage.
FAQ
How Do I Choose A Trading Broker With No Commission?
Every trader is unique, so look for a broker that best suits your financial goals, risk appetite and investing style. Some questions to ask yourself are: What types of assets am I looking to trade? Do I want to trade on UK exchanges like the FTSE, AIM and LSE; or did I want to trade on offshore exchanges? Does the broker have withdrawal costs or overnight holding fees? How many commission-free trades can I make before having to pay a commission? Do I want to trade on a social platform? Ultimately, it is important to do your research and find what works best for you. Also make use of demo accounts to trial a firm before risking cash.
How Are Brokers With Zero Commissions Able To Make Money?
While they don’t gain from a commission on every trade, brokers can make money in a multitude of different ways across their business operations. Things like withdrawal fees, wider spreads, or subscription services, as well as cost-saving methods such as building basic platforms, more limited customer support, or reliance on community research can all help brokers’ earnings.
Is There A Catch To Trading Brokers With Commission-Free Investing?
There are negatives to using zero-commission brokers in the UK. Brokers will fully disclose information on which stocks are commission-free, what types of trades can be performed with no commission, whether there are holding fees etc. Terms and conditions should always be available to read before creating an account, so there isn’t ever a ‘catch’ if you research the broker beforehand.
What Is The Best Zero-Commission Broker?
There is no ‘best’ broker for every investor. See our list at the top of the article to see the top rated.