Thadeus Geodfrey and finance are inseparable. He is a versatile expert with a strong cryptocurrency and market analysis background. Thadeus provides a unique blend of technical and strategic insights as a seasoned financial writer. His overarching probe and attention to detail inspire the InvestingGuide community. He guides you through the continuously evolving market landscape to build solid investments or make successful trades.
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- Gold can help hedge against risk while trading markets like forex, stocks, and indices.
- You can trade CFDs on gold, which allows you to speculate on the prices of this precious metal without owning the underlying asset.
- Many lacklustre gold trading platforms and scammy gold brokers are targeting Brits; choosing cautiously is of utmost importance.
- To help you avoid the pitfalls of choosing and trading with a sub-par or malicious platform, we have tested numerous brokers and recommended the top 5 in this guide.
- We considered several factors, including licensing and regulatory status, customer support, fees, and assets, to pick the best gold brokers in the UK.
You must have noticed that every savvy investor makes a beeline for gold when things get shaky economy-wise. Here’s why this trend is common. Gold has intrinsic value that doesn’t fluctuate wildly, like the prices of crypto, stocks, and other financial assets. Therefore, trading this precious metal or using it for portfolio diversification is highly recommended.
We’d like to help you start trading gold by introducing you to the best gold brokers in the UK. These service providers have many merits, including a solid reputation, proper licenses from respected watchdogs like the FCA, and pocket-friendly costs. Our team of gurus picked them after testing and evaluating many gold trading platforms available in the UK.
List of the Best Gold Brokers
- Pepperstone – Best Gold Broker for Precision Traders in the UK
- FP Markets – Best Gold Broker for Strategic Hedgers in the UK
- Plus500* – Best UK Broker for Simple, No-Frills Gold Trading
- eToro – Best Gold Broker for Social Trading in the UK
- AvaTrade – Best Broker for Gold Trading Novices in the UK
Note: 80% of CFD retail accounts lose money with this provider.
In This Guide
Comparison Table
Picking the right gold trading broker should be an extensive process. You shouldn’t just team up with the first service provider you see, oh no. To ensure your rise to financial freedom is smooth and as hapless as possible, you need to evaluate and compare as many brands as possible.
But don’t fret; although it may sound like a mountainous task involving hundreds of UK providers, it’s not. Remember that we’ve already done most of the strenuous lifting for you. All you have to do is pit the service providers we’ve recommended against each other and pick whichever will emerge as the winner.
The following table will help you compare the best gold brokers based on myriad factors, from regulation and authorization to customer support and provided trading platforms.
| Best Gold Trading Platform UK | Licence & Regulation | Support Service | Software | Payment Method | Demo Account |
|---|---|---|---|---|---|
| Pepperstone | FCA, MAS, FSCA, DFSA, CySEC, CMA, SCB, BaFin, ASIC | 24/7 | TradingView, MT4, MT5, cTrader, Pepperstone Trading Platform, Social trading | Visa, Mastercard, Bank transfer, Neteller, Skrill, PayPal | Yes |
| FP Markets | FCA, ASIC, MAS, FSCA, CMA, CySEC, FSA | 24/7 | MT4, MT5, TradingView, cTrader, WebTrader, Mobile App, Copy Trading | Credit/debit cards, Neteller, Skrill, Bank transfer, Google Pay, Apple Pay | Yes |
| Plus500* 80% of retail investor accounts lose money when trading CFDs with this provider. | FCA, FSCA, CySEC, ASIC, FMA, MAS | 24/7 | Plus500 CFD | Visa, MasterCard, PayPal, Skrill, Bank transfer | Yes |
| eToro | FCA, MAS, ASIC, CySEC, FSCA, SFSA ADGM, MFSA, FSAS, GFSC, SEC | 24/5 | eToro investing platform and app, Multi-asset platform, Social Trading, Copy Trader, Smart Portfolios | Credit/debit cards, Bank transfer, Klarna, PayPal, Skrill, Neteller | Yes |
| AvaTrade | FCA, ASIC, FSCA, CBI, CySEC, PFSA, B.V.I FSC, FSA, ADGM, ISA | 24/5 | WebTrader, AvaOptions, AvaTrade App, Mac Trading, MT4, MT5, Automated Trading | Credit/debit cards, Neteller, Skrill, Wire transfer, WebMoney | Yes |
Brokers Short Overview
Working with a broker with the right features, including proper licensing and advanced tools, won’t benefit your gold trading career if ungodly costs are in the picture. That is because the more you pay to your chosen service provider, the less you’re left with. In other words, excess costs lead to diminishing earnings. You should examine each gold trading platform’s fees before signing up.
You also need uncapped access to your favourite financial instruments to trade seamlessly, make bold decisions, and profit accordingly. Since your favourite financial instrument in this scenario is gold, check its availability on every trading platform. To ensure your portfolio diversification efforts will never be thwarted, prioritize teaming up with a service provider with a significant array of other financial products, like forex pairs, indices, and stocks.
In the subsequent comparison tables, we’ve highlighted what the best gold brokers in the UK offer in terms of fees and assets.
Fees
| Best Gold Trading Platform UK | Minimum Deposit Requirement | Commission/ Spreads | Deposits/ Withdrawals | Inactivity Fee |
|---|---|---|---|---|
| Pepperstone | £0 | From 0.05 points | Free | £0 |
| FP Markets | £100 | From 0.0 pips | Free | £0 |
| Plus500* | £100 | From 0.02% | Free | £10 monthly |
| eToro | £100 | From 0.025% | £5 withdrawal fee | £10 monthly |
| AvaTrade | £100 | £0.50 | Free | £50 after every 3 consecutive months of inactivity |
Note: 80% of CFD retail accounts lose money with this provider.
Assets
| Best Gold Trading Platform UK | Stocks | Forex | Crypto | Commodities | Indices | ETFs | Options |
|---|---|---|---|---|---|---|---|
| Pepperstone | Yes | Yes | Yes | Yes | Yes | Yes | No |
| FP Markets | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Plus500* | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| eToro | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| AvaTrade | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Note: 80% of CFD retail accounts lose money with this provider.
Our Expert’s Opinion about Gold Trading Platforms
Britons have access to a wide selection of gold brokers. However, not all of the available service providers have outstanding platforms. We’ve listed the ones that do, from Pepperstone to AvaTrade. Now, it’s time to dig deeper and uncover what our top service providers and their platforms offer.
1. Pepperstone – Best Gold Broker for Precision Traders in the UK
Precision trading enthusiasts should check out Pepperstone, one of the UK’s most highly regulated gold trading platforms. Its users enjoy unmatched execution speeds of less than 30ms, which significantly reduces the risk of slippage and gives gold traders ample opportunity to capitalize on the most profitable opportunities on the market.
Pepperstone goes above and beyond to provide unparalleled trading platforms and tools. In addition to the broker’s proprietary trading software, Pepperstone users have access to diverse exceptional solutions, including MT4, MT5, TradingView, and cTrader. These allow precision traders to make the most of every market opportunity with advanced charting tools, uncapped customisation features, superior order capabilities, etc.
Our gurus have also recommended the Pepperstone trading platform because it has competitive costs and charges. Gold traders using it enhance potential returns with £0 commission and tight spreads from 0.05 points. Plus, the platform has no transaction fees and doesn’t penalize dormant accounts like most of its peers.
Don’t worry about whether or not your budget can allow you to trade with Pepperstone. The platform is for everyone, from low-budget novices to professionals with incredible sums at their disposal. Since it has no minimum deposit requirement, no big bucks are needed; you can start trading with any amount.
Pepperstone
✔24/7 customer support
✔No inactivity fees
Pros & Cons
Fees
Trading Assets
Pros
- High execution speed
- Hosts powerful platforms like TradingView, MT4, and MT5
- Tight spreads for gold traders, starting from 0.05 points
- 24/7 expert support
- Over 2,000 additional assets for diversification
- Zero inactivity fees
- No minimum deposit requirement
Cons
- Limited learning materials for newbies
- Mainly offers CFDs
After evaluating Pepperstone, we opened a trading account for conducting extensive tests. The process was quick and easy.
But what impressed us most was the Pepperstone minimum deposit requirement. This platform has no minimum deposit, which makes it ideal for low-budget and high-budget traders. If you are a beginner, joining this broker is advisable since you can start with a low amount and increase your stakes with time. To top it off, Pepperstone supports free deposits and withdrawals. This broker allows you to use diverse payment methods for free, from Visa debit and credit cards to PayPal and domestic bank transfers.
When it comes to spreads and commissions, Pepperstone is very cost-friendly. You can open a Razor account with this broker and enjoy 20 commission-free trades. Pepperstone’s Standard accounts also have zero commissions. On the other hand, spreads start from as low as 0.0 pips for forex pairs like EUR/USD and 0.5 for commodities like XAUUSD.
Finally, unlike most of its peers, Pepperstone charges zero inactivity fees. However, any positions you hold overnight with this platform are subject to swap rates. Visit Pepperstone’s pricing page for a detailed account of how this broker calculated swap rates for different financial instruments.
2. FP Markets – Best Gold Broker for Strategic Hedgers in the UK
If strategic hedging is one of your crucial risk management strategies, consider trading with FP Markets. With this broker, you can seamlessly trade gold CFDs from the UK. The service provider also offers a number of other financial instruments you can use to hedge against risk, including forex pairs like GBP/USD and CFDs on bonds, indices, and shares.
You can start trading gold and other assets on FP Markets with as little as £100. And don’t worry; a limited budget won’t be a problem while trading with this broker. You use leverage of up to 1:30 to magnify your position size and get access to juicier potent profits as a retail trader. Or, you can level up, get a Pro account, and gain uncapped access to leverage options as high as 1:500.
You’ll never miss a single opportunity while trading with this terrific broker. Its users enjoy fast execution speeds of under 40ms. Therefore, capitalising on minute price fluctuations won’t be a problem while trading with it.
We also recommend FP Markets due to the broker’s impressive array of trading platforms. You can access its WebTrader platform from any browser or trade on the go with the company’s mobile app. Furthermore, you can choose any of the hosted solutions, like MT4, MT5, and cTrader.
FP Markets
✔10,000+ tradeable financial instruments
✔Free deposits and withdrawals
Pros & Cons
Fees
Trading Assets
Pros
- Gold traders can diversify with CFDs on commodities, shares, etc.
- Offers flexible leverages of up to 500:1
- No transaction fees
- An array of platforms, including MT4 and MT5
- 24/7 customer support service
- No inactivity fee
Cons
- Scarce educational resources
- No guaranteed stop-loss
Before going any further, note that the FP Markets minimum deposit is £100. You can’t fund your account with anything less than the mandated amount. Also, as a trader, expect to cover stipulated FP Markets fees and commissions. Let’s expound on that.
FP Markets has different trading and non-trading fees. However, the costs you will likely incur depend on where you are from. Take London as an example. If you’re from this city, you’ll incur a 0.10% commission per side while trading equity CFDs. You’ll also have to pay a £60 monthly fee if you use Iress Trader or ViewPoint.
But here’s the good news. You won’t incur additional costs while depositing or withdrawing money from your FP Markets trading account. Moreover, unlike many other brokers, this service provider doesn’t have inactivity fees for dormant accounts.
Please visit FP Market’s official site for a comprehensive overview of all fees and commissions.
3. Plus500 – Best UK Broker for Simple, No-Frills Gold Trading
We’ve crowned Plus500 the best service provider for simple, straightforward trading, and rightly so. The broker pays close attention to simplicity and functionality. That is why its gold trading platform is simple and comes with a clean interface with no overwhelming clutter and unwarranted complexities. Start trading with this broker with a few clicks without overspending valuable time wrangling with unnecessary details and intricacies.
You can trade gold CFDs with Plus500’s web platform or mobile trading app. The latter is a perfect solution for gold trading enthusiasts who like to do it on the fly, anywhere, at any time. It’s seamless, fast, and incredibly easy to use. But don’t be fooled by the app’s simple façade; it’s loaded with plenty of powerful features, including advanced charting and analysis tools.
When trading gold CFDs with Plus500, you’ll have the opportunity to use leverage of up to 1:20 to gain access to larger positions and increase potential profits. You’ll also enjoy low spreads from 0.02% and competitive overnight funding fees from 0.0087%.
If you have yet to master the basics of gold trading, don’t fret. Plus500 has a resource-packed learning hub that will introduce you to everything from basic to advanced concepts. Use it to seek knowledge from hundreds of indispensable online courses, eBooks, guides, and other materials.
Note: 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Plus500
✔User-friendly interface
✔Zero deposit and withdrawal fees
Pros & Cons
Fees
Trading Assets
Pros
- Simple web platform with intuitive features
- User-friendly mobile app with powerful specs
- Tight spreads as low as 0.02%
- Users can magnify returns with leverage
- Vast collection of educational resources
Cons
- UK traders have access to CFDs primarily
- £10 monthly inactivity fee
Brokers need to generate revenue and cover operating costs. That’s why many have fees and commissions. Sadly, high charges can undermine your profitability in the long run. That’s why looking for an affordable service provider is necessary.
With that in mind, we evaluated Plus500 fees UK. The process was easy since this broker values transparency. Our team was impressed by the fact that the trading platform doesn’t charge a dime for most services. First, opening an account is free. Deposits and withdrawals also attract zero charges. Furthermore, the broker offers free live CFD prices and dynamic charts. But note that the Plus500 minimum deposit UK is £100.
Plus500 primary source of compensation is the spread. While trading with this platform, you’ll have to cover the spread whenever you open a position. Your costs will depend on various factors, including your preferred instrument and current market conditions.
This broker also charges overnight funding and currency conversion fees. The former fee kicks in whenever you keep a position open overnight. On the other hand, you have to cover currency conversion fees whenever you interact with any currency besides your account’s base currency. Lastly, dormant Plus500 accounts attract a £10 monthly inactivity fee.
4. eToro – Best Gold Broker for Social Trading in the UK
eToro combines the power of a vibrant community of millions of traders and excellent copy-trading features to bring you the best social trading platform in the UK. The community has over 30 million members, from fledgling beginners to thriving gurus. There, newbies seek advice and insights from experienced pros. On the other hand, experienced traders use the community to advance their knowledge and seek input from their peers.
If you are a beginner, you can use eToro’s social trading features to advance your career. Simply join it and follow the most successful individuals you’ll come across. While learning from your chosen gurus, you can use the broker’s copy trading features to trade and invest like professionals and make a few bucks.
With this popular service provider, you can access a sprawling arsenal of financial instruments while engaging in social and copy trading. That includes over 6,000 tradable assets besides gold CFDs, like forex pairs, ETFs, and commodities.
But eToro isn’t like your average gold trading platform. Besides offering what you can find on any other standard platform, eToro also has a large selection of investment products. They range from digital currencies like BTC and ETH to fractional shares issued by companies like Lyft, GEELY, and BMW.
eToro
✔5000+ financial instruments
✔Cost-free deposits
Pros & Cons
Fees
Trading Assets
Pros
- Copy trading is available
- Excellent social trading capabilities
- 6,000+ tradable assets
- Users can invest in crypto and stocks
- Free deposits and withdrawals offered
- A treasure chest of free educational resources
Cons
- £10 monthly inactivity fee
- Some withdrawals incur a £5 fee
If there’s anything that can eat away at your profit margins, it’s unnecessary costs. Thankfully, eToro fees UK are reasonable and pocket-friendly. We acquired a new account without paying a single cent, which was quite a relief. We also noticed that you can enjoy free deposits by using USD. That said, eToro supports many other currencies, including GBP, EUR, and RMB.
You will incur conversion fees if you use any currency other than USD. And if you use any currency that eToro doesn’t support, you must pay conversion fees to your payment provider. The exact conversion fees you may incur at any moment will depend on various factors, including your preferred currency and payment method.
Please note that eToro subjects each withdrawal request to a £5 fee. The platform uses this money to pay expenses arising from international money transfers. Most importantly, you can’t withdraw less than £30 from the eToro trading platform.
While depositing money into our account, we noticed that eToro has strict minimum deposit requirements. Britons using this platform have to deposit at least £100 the first time. Afterwards, you can fund your account with as little as £10, depending on your preferred payment method.
Commission-wise, eToro is very friendly to people who trade ETFs or invest in real stocks since the broker charges 0% for these assets. On the other hand, if you buy or sell crypto on this platform, expect to pay a 1% fee. CFD trading also attracts variable spreads depending on the involved instruments. For instance, the spreads for currencies and commodities start from 1 pip and 2 pips, respectively.
Not to forget, eToro charges a £10 monthly inactivity fee that kicks in after 12 months of dormancy.
5. AvaTrade – Best Broker for Gold Trading Novices in the UK
AvaTrade is a fitting broker for novices who need a guide to walk them through the intricacies of gold trading. This service provider has issued numerous learning materials revolving around gold trading. The first category of materials includes guides and video tutorials that introduce newbies to the fundamentals of gold trading and the gold market. These materials have bite-sized information that beginners can understand easily.
Unlike other brokers who offer isolated guides and articles, AvaTrade has a fully-fledged online academy. Dubbed Ava Academy, it offers crucial learning materials to beginners. You can use it to master a wide array of topics, from strategies that can help you win big from gold trading to multiple principles crucial in facilitating your success as an online trader.
We also urge newbies to trade gold with AvaTrade because this broker’s platforms are easy to understand and use. Sign up and start using your favourite platform within a few minutes without wasting precious time and energy on confusing twists and turns.
AvaTrade also offers top-notch support, ensuring you get the help you need at any hour of the day or night. However, encountering insurmountable problems should be an issue when trading with the broker since it supports features like one-click trading and intuitive trading interfaces.
AvaTrade
✔Free deposits and withdrawals
✔Beginner-friendly user interface
Pros & Cons
Fees
Trading Assets
Pros
- A goldmine of educational resources
- Beginner-friendly user interface
- Helpful support team
- Impressive variety of platforms, from AvaTradeGo to MT4
- Newbies can practice gold trading for 60 days risk-free in demo mode
Cons
- Limited asset range
- £50 inactivity fee charged every three months
Before going any further, note that there’s an AvaTrade minimum deposit requirement for UK traders. Fundamentally, this service provider requires Britons to fund their account with at least £100 while using supported payment methods like wire transfer, credit card, and e-payment. You should keep that in mind while funding your trading account.
That aside, while evaluating AvaTrade, we discovered that this broker has numerous fees and costs. For starters, it requires dormant account holders to pay a £50 inactivity fee. It kicks in after 3 successive months of dormancy, and the broker charges it after every 3 months.
Additionally, dormant AvaTrade accounts incur a £100 annual administration fee that takes effect after 12 months of inactivity. Not to forget, while trading with AvaTrade, you’ll have to cover an overnight premium whenever you keep a position open after the stipulated overnight funding time, which is 22:00 GMT.
Regarding spreads and commissions, AvaTrade is one of the most affordable brokers in the UK. With this platform, you will enjoy reasonable spreads starting from 0.13% while trading popular instruments like Tesla and Amazon shares are involved. AvaTrade doesn’t require traders to cover any commissions. The broker uses the Bid-Ask spread to compensate itself.
Trading Precious Metals with Gold Brokers
Precious metals like gold are considered safer than instruments like currency pairs, especially in testing economic times. That is because they have intrinsic value, and their price isn’t as susceptible to dramatic shifts as other financial products. If you like playing it safe, you can trade gold with the best brokers in the UK and hedge with other precious metals, like silver and palladium. But if you have a healthy risk appetite, consider diversifying your gold trading portfolio with different assets, like stocks and FX pairs.
Please note that most of the best gold brokers in the UK mainly focus on CFD trading. In other words, they primarily allow their clients to earn returns from speculating on price changes associated with gold and other precious metals.
Let’s finalise with two noteworthy facts. First, to trade precious metals or CFDs on these commodities in the UK, you must be at least 18. You must also be willing to share the required information and documentation with your broker. Furthermore, you should note that the profits you’ll get while trading gold and other precious metals in the UK are subject to taxation.
How to Choose the Best Gold Broker UK
You need a good broker to chart the waters of gold trading. The following tips and hacks will help you identify the best service provider and avoid undependable or untrustworthy platforms:
Regulatory Status
Reputation
Costs
Product Range
Customer Support
Every Briton ought to prioritize trading with an FCA-regulated gold broker, yourself included. This regulator and its peers are here to protect you from unsafe service providers, malicious practices, unfair standards, and other vital issues.
Gold brokers with a solid, unmarred reputation are more likely to help you achieve success with as few hassles as possible. To gauge a specific service provider’s reputation, read testimonials on Trustpilot, Google Play, and the App Store. Check what past users say about the broker’s trustworthiness, service quality, fairness, etc.
Every gold broker has its fees and charges. Your job is to compare different providers and identify a broker with friendly costs, in your opinion. Make sure to check everything from deposit and withdrawal charges to overnight and inactivity fees.
Check the supported products in your chosen broker’s treasure chest and verify if gold and any other instruments you prefer are available. Also, bearing in mind just how important portfolio diversification is, finding a service provider with an extensive asset lineup is crucial.
Reaching support when you need it most is crucial in online trading. You don’t want to be stranded and unable to resolve a problem for too long since you might incur costly consequences, like hefty financial losses. Look for a gold broker that offers outstanding support services and guarantees you’ll get professional assistance when necessary.
How to Sign up for an Account with Gold Trading Platform
Compared to tasks like selecting the best service provider, opening a gold trading account in the UK is incredibly easy. You must follow your chosen broker’s registration process and provide the necessary information/documents. Here’s an overview of what most gold trading brokers require new clients to do:
Step 1: Visit the official website
Step 2: Sign up
Step 3: Complete verification
Step 4: Fund your account
Step 5: Trade gold
The entire registration process starts on your chosen broker’s website. Visit it and either register from there or download the company’s app and use it to sign up. While on the site, check whatever needs checking, from the service provider’s terms to support quality and stipulated fees.
Click the sign-up button on the website or app. Fill out the required information, including your name, residential address, and email address. Double-check for accuracy since erroneous submissions will complicate the registration process and cause unnecessary headaches.
For verification purposes, use the right documents, which often include your national ID, driver’s license, or passport as well as a recent bank or utility bill statement. The first set of documents will be used to ascertain your identity. The others are for verifying the validity of your address.
Gold trading requires capital, which brings us to the next step: fund your account. Use a supported payment method that works best for you and comply with your gold broker’s minimum deposit requirement. Here’s an extra tip: look for funding methods that have discounts and bonuses.
Explore the platform, make necessary tweaks like activating 2FA, and start trading gold. Remember to manage risk through diversification. Also, use tools like stop-loss/ take-profit to your advantage and prioritize sticking to your favourite trading strategies.
Conclusion
When it comes to success, trading with the best gold broker is only one part of the equation. You must stay informed on economic news and market trends to make profitable trades. And before embarking on this exciting journey, set clear goals. They will help you stay focused both in good and bad times. That is crucial since consistency is the key to generating solid returns while trading gold.
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