Arrow-to-top

Best Gold Trading Brokers in the UK 2024

Thadeus Geodfrey, an experienced writer and self-taught trader, is not just about market analysis. His skill in identifying fraudulent brokers and ensuring traders’ safety offers security. Join Thadeus and feel protected in your trading endeavours.

checked icon Fact checked
Advertising Disclosure

We may receive compensation from our partners for placement of their products or services, which helps to maintain our site. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn’t influence our assessment of those products.

  • 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

  • PepperstoneBest Gold Broker for Precision Traders in the UK
  • FP MarketsBest Gold Broker for Strategic Hedgers in the UK
  • Plus500*Best UK Broker for Simple, No-Frills Gold Trading
  • eToroBest Gold Broker for Social Trading in the UK
  • AvaTradeBest 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 UKLicence & RegulationSupport ServiceSoftwarePayment MethodDemo Account
PepperstoneFCA, MAS, FSCA, DFSA, CySEC, CMA, SCB, BaFin, ASIC24/7TradingView, MT4, MT5, cTrader, Pepperstone Trading Platform, Social tradingVisa, Mastercard, Bank transfer, Neteller, Skrill, PayPalYes
FP MarketsFCA, ASIC, MAS, FSCA, CMA, CySEC, FSA24/7MT4, MT5, TradingView, cTrader, WebTrader, Mobile App, Copy TradingCredit/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, MAS24/7Plus500 CFDVisa, MasterCard, PayPal, Skrill, Bank transferYes
eToroFCA, MAS, ASIC, CySEC, FSCA, SFSA ADGM, MFSA, FSAS, GFSC, SEC24/5eToro investing platform and app, Multi-asset platform, Social Trading, Copy Trader, Smart PortfoliosCredit/debit cards, Bank transfer, Klarna, PayPal, Skrill, Neteller Yes
AvaTradeFCA, ASIC, FSCA, CBI, CySEC, PFSA, B.V.I FSC, FSA, ADGM, ISA24/5WebTrader, AvaOptions, AvaTrade App, Mac Trading, MT4, MT5, Automated TradingCredit/debit cards, Neteller, Skrill, Wire transfer, WebMoneyYes

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 UKMinimum Deposit RequirementCommission/ SpreadsDeposits/ WithdrawalsInactivity Fee
Pepperstone£0From 0.05 pointsFree£0
FP Markets£100From 0.0 pipsFree£0
Plus500*£100From 0.02%Free£10 monthly
eToro£100From 0.025%£5 withdrawal fee£10 monthly
AvaTrade£100£0.50Free£50 after every 3 consecutive months of inactivity

Note: 80% of CFD retail accounts lose money with this provider.

Assets

Best Gold Trading Platform UKStocksForexCryptoCommoditiesIndicesETFsOptions
PepperstoneYesYesYesYesYesYesNo
FP MarketsYesYesYesYesYesYesYes
Plus500*YesYesYesYesYesYesYes
eToroYesYesYesYesYesYesYes
AvaTradeYesYesYesYesYesYesYes

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

trustpilor logo
2,831 User Reviews
google
4,490 User Reviews
apple
130 User Reviews
investingguide logo
Our Rating
Total Rating:
7,451 User Reviews
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.

The Pepperstone trading platform gives traders access to over 90 FX pairs and 1200+ CFDs on different assets, including shares, indices, and commodities. UK traders can access all the products that this broker offers. But, to minimize losses, prioritize trading assets you are familiar with. If there’s an alien instrument you’d like to try, learn its fundamentals before risking your money.

Here’s an overview of Pepperstone’s products:

  • Forex: You can trade diverse currency pairs with Pepperstone, including majors, minors, exotics, and crosses. This trading platform promises to fulfill all FX exchange trades fully, without requotes or partial executions.
  • Commodities: Pepperstone users can trade CFDs on popular commodities like crude oil, natural gas, silver, and gold. This broker doesn’t have rollovers or expiry for CFD commodities.
  • Indices: With a Pepperstone account, you can speculate on the price movements of indices like JPN225, UK100, and US500. This platform supports leverage trading, meaning you won’t need large sums to open sizable positions while trading CFDs on indices.
  • Currency indices: You can use the Pepperstone trading platform to trade popular currency indices like EURX, USDX, and JPYX. However, note that some of these instruments have high spreads.
  • Shares: If you want to trade shares CFDs, Pepperstone is the platform to choose. It offers CFDs on shares from different corners of the globe, from the UK to Germany and the US.
  • ETFs: Pepperstone supports over 100 ETFs. You can trade CFDs on these assets and profit from rising and falling prices. The ETFs available on this platform follow the performance of diverse sectors, from technology and energy to mining and bonds markets.

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

trustpilor logo
7,195 User Reviews
google
0 User Reviews
apple
3 User Reviews
investingguide logo
Our Rating
Total Rating:
7,198 User Reviews
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.

FP Markets has one of the largest selections of tradable products today. While exploring this platform, we discovered over 70 currency pairs and a whopping 10,000+ CFDs across ETFs, shares, metals, and more. Here’s a rundown of this broker’s product offerings:

  • Forex: As a forex trader, you can use FP Markets to access 70+ popular pairs, from BBP/USD and EUR/GBP to CAD/JPY and AUD/NZD. These are available 24/5 and have tight spreads starting from 0.0 pips. You can also choose a Standard or Raw account, depending on your preferences.
  • Shares: FP Markets offers thousands of international share CFDs. You can use your FP Markets account to trade CFDs on shares from many popular companies, from Adidas and Volkswagen to BMW and Porsche. You can also trade with MT5 or Iress and enjoy all associated perks.
  • Metals: If you are interested in metal CFDs, check out FP Markets. This platform allows users to trade CFDs on various precious metals, including gold, silver, and aluminium. It also offers spreads as low as 0.0 pips for instruments like XAG/USD. You can trade metal CFDs with MT4 or MT5 after joining FP Markets.
  • Commodities: FP Markets supports trading CFDs on popular commodities like crude oil, coffee, and natural gas. This broker also allows its clients to use MT4 and MT5 to enhance their commodity CFD trading experience.
  • Indices: After signing up with FP Markets, you can trade CFDs on indices such as AUS200, FRA40, and EURO50. The best part is you can harness the potential of two of the best third-party trading platforms today: MT4 and MT5.
  • Digital currencies: FP Markets embraces crypto enthusiasts and allows them to trade CFDs on diverse digital assets, including Bitcoin, Litecoin, and Ripple.
  • Bonds: With this broker, you can dive into various bond markets. They range from government and corporate bonds to mortgage-backed bonds and bond indices. You can trade any bond you fancy and enjoy significant returns.
  • ETFs: Suppose you’re interested in trading CFDs on ETFs. FP Markets has a broad range of products you can access today, from gold and currency ETFs to bond and commodity ETFs.

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

Visit site
80% of retail investor accounts lose money when trading CFDs with this provider.
Read review
trustpilor logo
14,136 User Reviews
google
109,000 User Reviews
apple
5,200 User Reviews
investingguide logo
Our Rating
Total Rating:
128,336 User Reviews
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.

The Plus500 trading platform is primarily for CFD traders in the UK. As we’ve already mentioned, this broker supports CFDs across over 2800 tradable instruments, including:

  • Indices: Plus500 allows you to trade popular indices like US-TECH 100, France 40, and S&P 500. While trading index CFDs with this broker, you can magnify your positions with leverages of up to 1:20. You also get around-the-clock support and free real-time quotes.
  • Forex:  The Plus500 trading platform boasts 60+ currency pairs as CFDs. That includes popular instruments like EUR/USD, GBP/USD, and AUD/USD. As a forex trader, Plus500 offers flexible leverages as high as 1:30.
  • Commodities: If you’d like to trade popular commodity CFDs and enhance your trading experience with flexible leverages, check out Plus500. This platform supports CFDs on commodities like gold, silver, oil, and natural gas. This product category offers leverages of up to 1:20.
  • Shares: Plus500 is one of the best platforms for trading share CFDs. With a Plus500 account, you can access CFDs on shares from global markets like the UK, Germany, and the US. The available shares include popular options like NVIDIA, Apple, and Meta. Plus500’s shares CFDs come with up to 1:5 leverage and no stamp duty.
  • Options: If you’re looking for a good platform for trading options CFDs, look no further than Plus500. This broker supports call and put options on diverse options, from Meta to oil and Germany 40. Options trading on Plus500 comes with flexible leverage, up to 1:5.
  • ETFs: As a Plus500 platform user, you can trade many popular ETFs as CFDs, including GLD Gold, iShares Silver, and USO-Oil Fund. You can also elevate your trading with leverages as high as 1:5 and razor-sharp spreads with zero commissions.

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

Visit site
{etoroCFDrisk}% of retail investor accounts lose money when trading CFDs with this provider.
Read review
trustpilor logo
5 User Reviews
google
143,000 User Reviews
apple
9,500 User Reviews
investingguide logo
Our Rating
Total Rating:
152,505 User Reviews
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.

eToro has 5,000+ product offerings. Finding something that fits your trading goals won’t be a problem with this platform. And the best part is this broker allows you to trade and invest in different assets. Here’s an overview of the products we encounter while evaluating eToro:

  • Stocks: eToro supports 4900+ stocks. As an eToro account holder, you can trade or invest in stocks from popular companies like Apple, Alphabet, and Microsoft.
  • Cryptocurrencies: Over 100 digital currencies are available on the eToro trading platform. They range from BTC and LTC to ETH and SOL. You can trade CFDs on these currencies or buy the assets and hold them in your eToro crypto wallet.
  • ETFs: eToro allows traders and investors to diversify their portfolios with ETFs and CFDs on ETFs. In other words, this platform lets you either buy exchange-traded funds or trade these assets as CFDs without owning the underlying assets.
  • Indices: We found a rich selection of top indices on eToro, including USDOLLAR, SPX500, and NSDQ100. You can trade CFDs on such instruments and profit from rising or falling prices.
  • Commodities: If you love trading commodity CFDs, eToro won’t disappoint. This platform offers 30+ popular commodities, including Gold, Oil, Palladium, and Corn.
  • Currencies: Joining eToro gives you the opportunity to trade CFDs on different currency pairs, from GBP/USD and USD/JPY to GBP/CHF and EUR/CAD. You can also buy and sell FX pairs on this trading platform.

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

trustpilor logo
2,549 User Reviews
google
10,200 User Reviews
apple
26 User Reviews
investingguide logo
Our Rating
Total Rating:
12,775 User Reviews
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.

AvaTrade offers 1,250+ financial instruments. With this broker, you can trade everything from FX pairs to CFDs on stocks and indices. Here’s a detailed overview of all of the products offered by AvaTrade:

  • Forex pairs: AvaTrade allows users to trade over 60 currency pairs 24/5. Popular options range from GBP/USD and EUR/USD to EUR/GBP and USD/JPY. The platform also offers other minor and exotic pairs like GBP/NZD, USD/CLP, and GBP/SGD. Some of these instruments have tight spreads starting from 0.9 pips.
  • Cryptocurrencies: If you are a crypto enthusiast, you can use an AvaTrade account to trade CFDs on a wide variety of assets, including Bitcoin, Ethereum, and Stellar.
  • ETFs: AvaTrade supports CFD trading on popular ETFs like the MSCI EAFE Index Fund, the Energy Select Sector SPDR, and the iShares U.S. Aerospace & Defense ETF. All of the available ETFs have a 0.13% spread.
  • Stocks: Upon opening an AvaTrade account, you will get the opportunity to trade CFDs on stocks associated with respected companies like Google, Apple, and American Express.
  • Bonds: AvaTrade allows clients to trade CFDs on European, US, and Asian government bonds. Available products include EURO-BUND and JAPAN GOVT BOND.
  • Commodities: If you are interested in commodity trading, sign up for AvaTrade. You’ll have an uncapped opportunity to trade CFDs on hard commodities like gold and soft commodities like corn.
  • Indices: You can trade index CFDs on AvaTrade and avoid the hassle of analysing the performance of individual company stocks. The index-related products offered here range from the Cannabis Index to the US100 Index.

Trading Precious Metals with Gold Brokers

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.

author image
Thadeus Geodfrey

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.

Leave a Reply

Your email address will not be published. Required fields are marked *