In order to trade successfully, it is very important to choose the right broker. in the UK, a large number of companies provide access to trading and you will have to choose the one for you among them. It is important to work only with reliable brokers providing all the required instruments for trading based on your trading strategy. TU analysts have selected the best crypto brokers for day trading in the UK 2024. You can compare their features and trading conditions.
1
TeleTrade - Best for day trading in the UK
TeleTrade is a global broker serving clients worldwide. They offer trading on Forex, indices, stocks, metals,cryptocurrencies, and energies. While lacking PAMM accounts and certain investment options, TeleTrade boasts a robust copy trading service, a strong affiliate program, and diverse account types (ECN, NDD, crypto). With sufficient leverage (up to 1:500) and spreads from 0 pips, the broker caters to various trading styles, including scalping, intraday trading, and medium to long-term strategies.
TeleTrade supports traders with market analytics, expert forecasts, an economic calendar, and a comprehensive education section on their website.
👍 Advantages of trading with TeleTrade for traders from the UK:
•detailed analytical section;
•informative educational section.
👎 Disadvantages of TeleTrade for traders from the UK:
•no PAMM accounts or other money management options;
•a small range of trading instruments;
•few withdrawal options;
•support is available 24/5;
•withdrawals delayed;
•technical support responds slowly;
•sometimes it takes a long time to verify data.
2
MEXC - Best for day trading in the UK
The MXC cryptocurrency exchange (MXC.com) has been operating since 2018. The company is registered in Singapore, which is a loyal digital asset jurisdiction. The platform offers clients trading and P2P exchange services. The main specialization of the trading platform is to provide clients with crypto/crypto trading services with currencies such as Bitcoin (BTC), Ethereum (ETH), and Tether USD (USDT). The undoubted bright side of the platform is access to cryptocurrency ETF funds.
👍 Advantages of trading with MEXC for traders from the UK:
•120+ cryptocurrencies for trading;
•receive additional income through staking and holding;
•an affiliate program with income up to 80% of the deposit of the invited trader.
👎 Disadvantages of MEXC for traders from the UK:
•commissions of 0.2% per trade;
•withdrawal fees (0.0005 BTC for Bitcoin);
•lack of support for fiat currencies for trading;
•no MAM or PAMM accounts;
•mandatory verification.
3
FTMO - Best for day trading in the UK
FTMO is a prop trading firm offering experienced traders the chance to manage a funded account of up to $200,000 with a wide range of instruments including Forex, stocks, indices, commodities, and cryptocurrencies. To qualify, traders must pass a two-step evaluation process.
Beginners may start with a Free Trial account which has the same trading conditions as the challenge ones. Long-term traders are free to use a Swing Account that has no restrictions on holding positions over the weekend or trading during macroeconomic releases. The company offers trading with the most popular platforms – MT 4/5, cTrader, and DXtrade. The leverage is up to 1:100.
Additionally, FTMO is recognized for its educational resources and continuous support.
👍 Advantages of trading with FTMO for traders from the UK:
•Quite low testing cost is €155.
•Classic platforms such as MT4, MT5, and Ctrader are familiar to many traders. For these platforms, hundreds of indicators, scripts, and advisers have been developed.
•The starting reward is 80%.
•Diversification of tariff plans. Candidates can choose a demo deposit from 10 thousand to 200 thousand US dollars. There are tariff plans that span from standard to aggressive trading.
•Leverage is up to 1:100.
👎 Disadvantages of FTMO for traders from the UK:
•Strict requirements for the test period. The allowable maximum loss is 10% of the deposit amount. The target profit is 10%, for which 1 month is provided.
•There is no information about how the company is funded.
4
Pacific Union - Best for day trading in the UK
Pacific Union is a broker that allows trading in contracts for difference (CFDs) on hundreds of assets from the following categories: currencies, stocks, bonds, indices, commodities, metals, and exchange-traded funds (ETFs). New users receive a free demo account with a balance of 100,000 virtual dollars. Real accounts come in five types, differing in trading parameters and catering to traders of different levels. The minimum deposit is $20, and spreads are floating, starting from 0 or 1.3 pips depending on the chosen account. The maximum leverage is 1:1000. The broker's clients operate through MetaTrader 4, MetaTrader 5, and WebTrader trading platforms. The company also has a highly-rated mobile platform. In addition to active trading, traders can earn through a standard referral program and register in an integrated copy trading service. Pacific Union offers attractive bonuses through five active programs. The broker provides free technical and fundamental analysis tools and news analytics. It also has an extensive educational system.
👍 Advantages of trading with Pacific Union for traders from the UK:
•The minimum deposit is lower than the market average, and a free demo account and high-quality training ensure a low entry threshold.
•Traders can work with hundreds of assets with high leverage and no trading restrictions, resulting in high-profit potential.
•Narrow spreads combined with low commissions guarantee minimal trading costs.
•Traders can choose from five real account options, including an Islamic account with no swaps or interest charges.
•A wide selection of trading platforms, including mobile versions, allows traders to work comfortably in most conditions.
•The copy trading platform is transparent, fast, and features an intuitive interface.
•Customer support is available through the main communication channels, operates round the clock without interruptions, and has received numerous positive reviews.
👎 Disadvantages of Pacific Union for traders from the UK:
•This broker only offers trading with CFDs.
•Apart from copy trading, the company does not provide other passive income options such as joint accounts, cryptocurrency staking, etc.
•Residents of Australia, Singapore, and some other countries cannot collaborate with this broker.
5
Admirals - Best for day trading in the UK
Admirals was founded in 2001. In more than 20 years of operation, a regional Estonian broker has grown into an international financial group of companies providing access to over-the-counter markets in more than 130 countries, as well as to exchange-traded stock instruments. Following the 2021 rebranding, Admirals became Admirals. The updated platform received new integrated risk management solutions.
The Admirals group of companies comprises:
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Admirals AU Pty Ltd.
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Admirals UK Ltd.
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Admirals Cyprus Ltd.
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Admirals AS Jordan Ltd.
Regulators of the Admirals group of companies include FCA (UK, 595450), CySEC (Cyprus, 201/13), ASIC (Australia, 410681), JSC (Jordan, 57026), and CIPC (South Africa, 2019 / 620981 / 07).
👍 Advantages of trading with Admirals for traders from the UK:
•5,000+ trading assets, with stock assets trading on exchange markets available.
•The company’s proprietary social trading platform (copy trading).
•Relatively tight spreads on most assets.
•The company’s own Supreme Edition plug-in for MT4 and MT5, which expands their technical and chart functionality.
•FCA and CySec licenses, which are the most reputable regulators.
•Compensation fund with insurance coverage of up to €20,000 per trader.
•Relatively low initial deposit that provides for opening trades within risk management subject to leverage.
👎 Disadvantages of Admirals for traders from the UK:
•Restrictions on leverage for retail traders without the “professional” status as required by regulators.
•Withdrawal fee is charged.
Commissions & Fees
Brokerage fees are the amount of money that you pay for using the services that a brokerage offers in order to perform trading and manage investments. The brokerage fee structure and regulations vary from broker to broker, and there are two primary fee types which are:
Trading Fees: This type of fee is only charged when you perform a trade. It can be a conversion fee, margin rate, financing rate, spread, or commission.
Non-Trading Fees: This type of fee isn't directly related to your trading activity, and it can include inactivity fee, withdrawal fee, deposit fee, etcetera.
TeleTrade Commissions and Fees
Our analysts analyzed the broker’s trading and non-trading fees. The first was the company's spread, the second was additional fees for withdrawing funds.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Standard ECN |
$17 |
No |
|
Professional NDD |
$9 |
No |
|
Sharp ECN CENT |
$2 |
No |
|
Cryptocurrency account |
$3 |
No |
MEXC Commissions and Fees
The experts at Traders Union analyzed the policy of commissions of the MXC.com cryptocurrency exchange. The platform offers a single commission for all traders. It is fixed at 0.2% per trade. This commission is applied regardless of the trading volume or other trading metrics of the trader. There are also withdrawal fees on the platform. Deposits and withdrawals are carried out only using cryptocurrencies, and each type of digital asset has its own commissions and limits.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Standard |
0.2% |
Yes |
FTMO Commissions and Fees
The experts at the Traders Union analyzed the trading conditions of FTMO. The support service reported on a separate request that the spread is ranging from 0-3 pips on majors. The fee for testing depends on the chosen strategy and the deposit amount. The minimum deposit is €155, the maximum is €1080.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Standard/Swing |
From $6 |
No |
Pacific Union Commissions and Fees
All brokers generate their main income from spreads and trading commissions, and some also impose withdrawal fees. If a raw spread is used, the commission is always higher, while a standard spread may have no commission at all. Spreads can also be fixed or floating. Pacific Union offers floating spreads on its accounts, starting from 0 or 1.3 pips depending on the account type. Traders should also consider that the Prime account incurs a trading commission of $3.5 per standard lot. The Islamic account also has a fee, but it is floating and starts from $0, with a maximum of $3.5. Withdrawal fees are only charged when using the following channels: Skrill (1%), Neteller (2%), and Faspay (0.5%). In all other cases, including withdrawals to Visa or MasterCard bank cards, the broker does not charge fees. However, fees may be imposed by other parties involved in the withdrawal process, such as a bank. Considering the overall factors, Pacific Union's commission policy appears attractive, and transparent and does not impose significant costs on traders.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Cent |
From $1.3, no commission |
No, for most withdrawal methods |
|
Standard |
From $13, no commission |
No, for most withdrawal methods |
|
Pro |
From $13, no commission |
No, for most withdrawal methods |
|
Prime |
From $0, the commission is $3.50 per lot |
No, for most withdrawal methods |
|
Islamic |
From $13, the commission is $0-3.50 per lot |
No, for most withdrawal methods |
Admirals Commissions and Fees
TU experts have analyzed trading conditions (spreads and fees) of the Admirals group of companies. Results are provided as a list:
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Spreads and fees are not subject to the broker. It means that liquidity providers are the same for the entire group.
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The Zero MT4/MT5 account has a fixed fee per 1 full standard lot. Forex and metals are charged with a fee ranging from $1.8 to $3 per 1 lot. Energies are charged with a $1 fee per lot. The fee is indicated per one transaction, thus it is doubled when closing a trade.
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There is a $0.02 fee per transaction for trading stocks and ETFs.
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There is a withdrawal fee which is subject to the payment system and the broker. Its minimum ranges from $1 to $15. All withdrawal fees are discussed in detail in the following blocks.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Trade MT4/MT5 |
from $5 |
Yes |
|
Zero MT4/MT5 |
from $0 |
Yes |
|
Zero MT4/MT5 |
from $0 |
Yes |
Summary
Many brokers are available for traders from the UK, but not all of them offer good conditions. In this review, TU experts chose the Best crypto brokers for day trading in the UK 2024. These are the most trusted companies that offer the best conditions for traders. You will also be able to review the general assessment of each broker.
Overall score of the best Crypto Brokers For Day Trading in the UK
| TeleTrade | MEXC | FTMO | Pacific Union | Admirals | |
|---|---|---|---|---|---|
|
Overall score |
8.92 |
9.68 |
9.02 |
6.28 |
8 |
|
Execution of orders |
3.21 |
8.5 |
8.6 |
4.17 |
7.65 |
|
Investment instruments |
6.7 |
3.28 |
4.89 |
4.27 |
9.31 |
|
Withdrawal speed |
7.79 |
9.02 |
7.21 |
9.71 |
8.57 |
|
Customer Support work |
8.41 |
7.25 |
8.01 |
5.68 |
8.2 |
|
Variety of instruments |
8.75 |
7.1 |
7.52 |
8.75 |
8.75 |
|
Trading platform |
8.29 |
6.98 |
7.96 |
4.28 |
8.09 |
|
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FAQ
Why is a license important for a broker?
License is the key document testifying to the broker’s reliability. It means that the company complies with the requirements of the financial regulatory authority that issued it. It is recommended that you choose brokers with licenses from top financial regulators: the USA, European Union, the UK, as these jurisdictions have the strictest licensing requirements.
Is it possible to work with offshore brokers?
It is best not to work with offshore brokers. However, if you have chosen such a company, you need to check and analyze it very thoroughly. There are offshore brokers with good reputations. Before you start working with such a company, deposit the minimum amount and start trading. Once you’ve worked with the broker for a little while and checked how it operates and how quickly it processes withdrawals, you can start depositing higher amounts.
What are the risks of trading in the financial markets?
Any trading in the financial markets carries risks of losing your money due to asset volatility. Therefore, it is important to develop the rules of risk management in your strategy and strictly follow them.
What learning instruments can a broker offer?
Brokers offer various educational options. These include full-fledged educational courses, or video tutorials, articles, and books. Companies also often hold seminars and webinars.
Best Crypto Brokers For Day Trading by Countries
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.