Company

Spread

for GBP/USD

Min.

Deposit

Platforms

Offered

Account

Types

Spread

Type

Funding

Methods

Customer

Support

Execution

Details

Plus500

Offers two ways to trade: CFDs, Forex

 Listed on the LSE AIM market
Plus500 Image
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Your capital is at risk
0.64%points See All Spreads
£100Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
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  • Micro
  • Standard
  • VIP
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  • Fixed
  • Variable

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  • Market Maker
  • DMA
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Trust Score:

B

Used by:

155,000

Established in:

2008

Regulated by:

Financial Conduct Authority (F...

AvaTrade

Offers four ways to trade: Forex, Spread betting, CFD trading, and options trading

AvaTrade Image
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Your capital is at risk
$18.00points See All Spreads
€/£/$100Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
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  • Micro
  • Standard
  • VIP
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  • Fixed
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  • Market Maker
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Trust Score:

AAA

Used by:

200,000

Established in:

2006

Regulated by:

Central Bank of Ireland, ASiC ...

See DetailsTry a Demo
Your capital is at risk

eToro

Offers two ways to trade: CFD trading, and social trading

eToro Image
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Your capital is at risk
225.0points See All Spreads
$50Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
See Platforms
  • Micro
  • Standard
  • VIP
See All Accounts
  • Fixed
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See Spreads
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  • Live chat
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Contact Details
  • Market Maker
  • DMA
  • ECN
Learn More
Trust Score:

AAA

Used by:

6,000,000

Established in:

2006

Regulated by:

Financial Conduct Authority, C...

See DetailsTry a Demo
Your capital is at risk

Core Spreads

Offers one way to trade: Forex

Core Spreads Image
Your capital is at risk
N/Apoints See All Spreads
£1Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
See Platforms
  • Micro
  • Standard
  • VIP
See All Accounts
  • Fixed
  • Variable

See Spreads
  • Bank transfer
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  • PayPal
See Methods
  • Live chat
  • Phone support
  • Email support
Contact Details
  • Market Maker
  • DMA
  • ECN
Learn More
See Details
Your capital is at risk

ETX Capital

Offers three ways to trade: Forex, Spread betting, CFD and Binary options

ETX Capital Image
Your capital is at risk
N/Apoints See All Spreads
$100Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
See Platforms
  • Micro
  • Standard
  • VIP
See All Accounts
  • Fixed
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See Spreads
  • Bank transfer
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  • Live chat
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  • Email support
Contact Details
  • Market Maker
  • DMA
  • ECN
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See Details
Your capital is at risk

IG

Offers four ways to trade: Forex, Spread Betting, CFD, Stock trading and Binary options

IG Image
Your capital is at risk
7.5points See All Spreads
£200Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
See Platforms
  • Micro
  • Standard
  • VIP
See All Accounts
  • Fixed
  • Variable

See Spreads
  • Bank transfer
  • Credit cards
  • PayPal
See Methods
  • Live chat
  • Phone support
  • Email support
Contact Details
  • Market Maker
  • DMA
  • ECN
Learn More
See Details
Your capital is at risk

London Capital Group

Offers one way to trade: Forex

London Capital Group Image
Your capital is at risk
N/Apoints See All Spreads
$100Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
See Platforms
  • Micro
  • Standard
  • VIP
See All Accounts
  • Fixed
  • Variable

See Spreads
  • Bank transfer
  • Credit cards
  • PayPal
See Methods
  • Live chat
  • Phone support
  • Email support
Contact Details
  • Market Maker
  • DMA
  • ECN
Learn More
See Details
Your capital is at risk

City Index

Offers three ways to trade: Forex, CFDs, Spread Betting

City Index Image
Your capital is at risk
N/Apoints See All Spreads
£25Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
See Platforms
  • Micro
  • Standard
  • VIP
See All Accounts
  • Fixed
  • Variable

See Spreads
  • Bank transfer
  • Credit cards
  • PayPal
See Methods
  • Live chat
  • Phone support
  • Email support
Contact Details
  • Market Maker
  • DMA
  • ECN
Learn More
See Details
Your capital is at risk

Finspreads

Offers one way to trade: Forex

Finspreads Image
Your capital is at risk
N/Apoints See All Spreads
£50Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
See Platforms
  • Micro
  • Standard
  • VIP
See All Accounts
  • Fixed
  • Variable

See Spreads
  • Bank transfer
  • Credit cards
  • PayPal
See Methods
  • Live chat
  • Phone support
  • Email support
Contact Details
  • Market Maker
  • DMA
  • ECN
Learn More
See Details
Your capital is at risk

Trade.com

Offers two ways to trade: Forex, CFDs

Trade.com Image
Your capital is at risk
$20.00points See All Spreads
Min. Deposit Learn More
  • MT4
  • WebTrader
  • Mobile apps
See Platforms
  • Micro
  • Standard
  • VIP
See All Accounts
  • Fixed
  • Variable

See Spreads
  • Bank transfer
  • Credit cards
  • PayPal
See Methods
  • Live chat
  • Phone support
  • Email support
Contact Details
  • Market Maker
  • DMA
  • ECN
Learn More
See Details
Your capital is at risk
CFDs are leveraged products and can result in the loss of your capital. All information collected on 1/11/2017.
Day Trading

The Ultimate Guide to

Choosing a Broker
For Day Trading

Not sure which broker is right for you?

Don’t worry - we’ve got you covered. In this guide, you’ll learn:

Ready?

Part 1

Why Choose Plus500
For Day Trading?

Plus500 scored best in our review of the top brokers for day trading, which takes into account 120+ factors across eight categories. Here are some areas where Plus500 scored highly in:

  • 9+ years in business
  • Offers 2000+ instruments
  • A range of platform inc. Web Trader, Tablet & Mobile apps
  • 24/7 customer service
  • Tight spreads from 0.01% pips
  • Used by 155,000+ traders
  • Offers demo account
  • 2 languages
  • Leverage up to 1:300

Plus500 offers two ways to trade: CFDs, Forex. If you wanted to trade BITCOIN through copy trading or other means, skip to part two.

The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

Plus500 have a B trust score, which is good. This is largely down to them being regulated by Financial Conduct Authority (FRN 509909) and Cyprus Securities and Exchange Commission (License No. 250/14), segregating client funds, being established for over 9 years, and much more. For comparison:

Trust Score comparsion

Plus500 AvaTrade eToro
Trust Score B AAA AAA
Year Established 2008 2006 2006
Regulated by Financial Conduct Authority (FRN 509909) and Cyprus Securities and Exchange Commission (License No. 250/14) Central Bank of Ireland, ASiC , FSA, FSB and BVI Financial Conduct Authority, CySEC
Uses tier 1 banks
Company Type Public Private Private
Segregates client funds

The second thing we look for is the competitiveness of the spreads, and what fees they charge. We've compared these in detail in part three of this guide.

Part 2

Who Plus500 is (& Isn’t)
Suitable For

As mentioned, Plus500 allows you to trade in two ways: CFDs, Forex.

Suitable for:

  • CFD Trading
  • Forex Trading

Not Suitable for:

To trade with Plus500, you'll need a minimum deposit of $1. Plus500 offers a range of different account types for different traders including a micro account, mini account, .

Finally, Plus500 isn't available in the following countries: Belgium, US, Canada some Arab and Middle eastern countries, China, Singapore, Indonesia, Philippines. They do not offer islamic accounts either.

Part 3

A Comparison of Plus500 vs. AvaTrade vs. eToro


Want to see how Plus500 stacks up against AvaTrade and eToro? We've compared their spreads, features, and key information below.



Spread & fee comparsion

The spreads below are illustrative. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab.
Plus500 AvaTrade eToro
Fixed Spreads
Variable Spreads
EUR/USD Spread 0.01% 1.0 3.0
GBP/USD Spread 0.01% 1.8 4.0
Crude Oil Spread 0.08% 0.03 5.0
Gold Spread 0.03% 0.60 45.0
DAX Spread 0.01% 1.5 100.0
FTSE 100 Spread 0.02% 1.0 100.0
S&P500 Spread 0.02% 0.25 100.0
Ripple spreads from 1.56%$0.003N/A
Dash spreads from 1.34%$1.50N/A
Litecoin spreads from 1.35%$0.30N/A
Bitcoin spreads from 0.64%$18.00225.0
Ethereum spreads from 0.94%$2.20400.0

Comparison of account & trading features

Plus500 AvaTrade eToro
Spread type Fixed AAA AAA
EUR/USD Spread 2008 2006 2006
EUR/GBP Spread Financial Conduct Authority (FRN 509909) and Cyprus Securities and Exchange Commission (License No. 250/14) Central Bank of Ireland, ASiC , FSA, FSB and BVI Financial Conduct Authority, CySEC
Crude Oil Spread
Gold Spread Public Private Private
DAX Spread

Part 4

How To Chose the Best Trading Platform For Day Trading

Day trading was once an exclusive form of trading only available to large financial institutions and professional speculators, however electronic trading and margin trading has lowered the financial capital requirements to start day trading and opened up the doors of day trading to everybody with an internet connection.

Unlike Day trading where speed is an important factor, time and care should be taken when choosing a broker.

With day trading, one of the primary concerns should always revolve around the online broker itself, it is paramount that you go with a trust worthy and reputable broker and always choose one that is regulated by a respected authority such as the Financial Conduct Authority in the UK and CySEC in Cyprus.

On top of being a regulated broker there is some fundamental factors that need to be taken into account when find the best day trading broker for you. We have taken into consideration the main points that should be considered when choosing a broker for you and provided a list of some of the most popular online brokers around today.

10 Factors To Consider When Choosing A Day Trading Broker

1.Regulation

One of the primary concerns for traders searching for a suitable broker should be to ensure the broker is registered and authorised with a relevant governing body. As a general rule, brokers who a regulated by a trusted regulatory body will clearly state this fact on their website.

For example, a regulated broker like AvaTrade, the website clearly states they are regulated by multiple organisations.
Regulated Day Trading Broker - AvaTrade

2.Customer Care

Customer support is seen as being a reliable barometer of the site in question. Is only a static “info@” email available or are there options such as telephone contact and a live chat widget? Those platforms that offer multiple avenues are seen as being the better choices.

3.Navigability

Day trading is an extremely fast-paced system. Not only should the site be updated constantly, but the trader also needs to be able to enjoy an extremely streamlined central platform. All values should be clearly displayed and the “buy” and “sell” options should ALWAYS be present. One’s account balance and current profits need to be clear and every position needs to be quickly accessible. This can normally be determined by opting for a demo account (see below).

4.Trial Accounts

Also known as demo accounts, these are excellent ways for the user to understand the functionality of the site. Most of the larger day trading brokers will provide such an account as one of their options. However, it is wise to note that not all features may be available (such as advanced analytical tools). Still, opening a trial position will provide the insight necessary to make the correct choices. Sites which do not provide such an option are likely to be smaller and again, they should not be used.

5.Trading Presets

Due to the fluid nature of day trading, many users will opt for automated trades as opposed to manually following many disparate positions. In other words, once a certain level is reached (or the resistance is crossed), the position will automatically be opened or closed. These levels can be preset by the trader and both novices and professionals alike use this tool frequently.

6.Historical Data

One of the best ways to hone one’s skills is to appreciate past performance. So, any day trading broker should also supply longitudinal data as a standard feature. As opposed to mere text, the best will use charts and graphs. The user can then select the time period that he or she wishes to observe. Most traders will provide the ability to see back at least as far as one year.

7.Money Options

In this case, we are referring to how capital can be deposited or withdrawn. It only stands to reason that the most trusted payment methods should be used such as PayPal, TransferWise, credit cards and direct deposit into one’s bank account. As all of these (and others) will employ the aforementioned SSL encryption, personal details will remain secure. Along these lines, what are the withdrawal fees that are taken by the broker? These will naturally differ and comparing these amounts will enable the potential day trader to enjoy the best profit margins.

8.Access to Diverse Indexes

Even novice traders should have access to a large number of indices. While the major ones such as the Dow Jones, the FTSE and the NASDAQ should all be present, others including the CAC 40, the FTSE 250, the FTSE All-Share and even the OTC markets are considered important to view. This will enable the trader to diversify his or her portfolio and therefore, the aggregate risk can be substantially lowered.

9.Account Types

Not everyone will have ten thousand pounds to invest in order to open a VIP trading account. Thankfully, the reputable providers will offer a number of different accounts. These can range from a basic platform to a “silver”, “gold” or platinum” status. While these names sound impressive, it is critical to ascertain which benefits each level can offer. For example, automated trades are likely to be possible with every account but only upper-level positions may be able to enjoy the free use of analytical tools.

10.Data Feeds

Day trading is unique in the fact that a position can suddenly be “in the red” in a matter of seconds. So, it is apparent that fast information is all but essential to guarantee success. One of the lesser-known facts is that even real-time information can be slightly delayed. This has to do with the means by which the data is fed to the user. Some platforms will feed their data through one of their proprietary servers. This can take longer to be provided to the individual. The best brokers are those which allow this information to be sent directly to the user’s operating system. More streamlined access equates to a quicker reaction time.

Each of these features needs to be considered alongside all of the others. In simpler terms, there is no one single metric which defines a reputable and reliable day trading broker. Other variables such as how long the site has been in operation should be taken into account.