The Financial Conduct Authority (FCA) register shows about 229 brokers with a significant share offering forex and CFD trading. This report compares eight of them based on the lowest first-time funding requirement.
The overview gives details about account types and trading conditions. All figures are approximate and subject to change by the broker.
| Broker | Min. first deposit | Withdrawal fee |
|---|---|---|
| CMC Markets | £0 / $0 (Bank transfer) | None |
| Pepperstone | £0 / $0 (Bank transfer) | None |
| IG Group | £0 / $0 (Bank transfer) | None (Except £15 for same-day bank transfer < £100) |
| Trade Nation | $1 / £1 | None |
| Trading 212 | £10 / $10 (CFD Account) | None |
| Tickmill | £100 / $100 | None (Waives third-party fees up to $100) |
| FxPro See profile | £100 / $100 | None |
| HFM See profile | £100 / $100 | None |
Details and conditions
CMC Markets
Minimum first-time deposit: £0 / $0
Details: CMC Markets maintains a policy of no mandatory minimum deposit. While some payment methods like card deposits may have a technical minimum (often cited as £100 in some regions, though not explicitly stated for the UK FCA entity), bank transfers generally have no minimum limit, making a deposit of £1.20 or $3.20 technically possible via this method.
Deposit/withdrawal fees: None. CMC Markets does not charge internal fees for deposits or withdrawals.
Account types: CFD and Spread Betting accounts.
Trading conditions: Variable spreads starting from 0.7 pips on major FX pairs, with no commission.
Pepperstone
Minimum first-time deposit: £0 / $0
Details: Pepperstone states there is no minimum deposit required to open or fund an account. While they recommend a starting balance of £200 for practical trading, a deposit of £1.20 or $3.20 is technically possible, particularly via bank transfer.
Deposit/withdrawal fees: None. Pepperstone does not charge internal fees for funding. However, international bank wire transfers may incur third-party bank fees.
Account types: Standard (spread-only) and Razor (commission-based).
Trading conditions: Standard (1.0 – 1.2 pips, no commission) and Razor (from 0.0 pips, commission applies).
IG Group
Minimum first-time deposit: £0 / $0
Details: IG confirms that there is no minimum deposit for bank transfers. Card payments, however, may have a minimum of $50 (or currency equivalent). Therefore, a deposit of £1.20 or $3.20 is possible using a bank transfer.
Deposit/withdrawal fees: None for standard bank transfers and withdrawals. A fee of £15 is charged for same-day bank transfers under £100. Card deposits may incur a third-party processing fee (e.g., 2.3% for some cards), though IG often waives this.
Account types: CFD, Spread Betting, and DMA accounts.
Trading conditions: Variable spreads starting from 0.6 pips, with no commission on forex/index CFDs.
Trade Nation
Minimum first-time deposit: £1 / $1
Details: Trade Nation’s funding page explicitly states a minimum deposit of $1 for Credit Card and Digital Wallet payments (for USD accounts). For UK clients using GBP, the equivalent minimum is typically £1.
Deposit/withdrawal fees: None. Trade Nation covers all deposit and withdrawal fees. Clients should only be aware of potential third-party bank charges for international transfers.
Account Type: Core account (fixed spread).
Trading conditions: Fixed spread on EUR/USD typically at 0.6 pips, with no commission.
Trading 212
Minimum first-time deposit: £10 / $10
Details: The minimum first-time deposit for the CFD account is a clear £10 / $10. This is a firm technical minimum.
Account Type: CFD account.
Deposit/withdrawal fees: None for withdrawals. Deposits via Card, Google Pay, Apple Pay, etc., are fee-free up to a total deposit limit of £2,000/€2,000. Deposits exceeding this limit are subject to a 0.7% fee.
Trading conditions: Zero commission model, with variable spreads starting from approximately 1.0 pips.
Tickmill
Minimum first-time deposit: £100 / $100
Details: Tickmill explicitly states a minimum deposit of $100 for all account types.
Deposit/withdrawal fees: None. Tickmill has a zero-fees policy and will waive third-party transaction fees up to $100 for deposits of $5,000 or more via wire transfer.
Account types: Classic and Raw accounts.
Trading conditions: Classic (1.6 pips, no commission) and Raw (from 0.0 pips, commission applies).
FxPro
Minimum first-time deposit: £100 / $100
Details: FxPro requires a minimum deposit of $100 to start trading.
Deposit/withdrawal fees: None. FxPro does not charge any internal fees for deposits or withdrawals.
Account types: Standard, Raw Spread, and cTrader accounts.
Trading conditions: Standard (1.2 pips, no commission) and Raw Spread/cTrader (from 0.0 pips, commission applies).
HFM
Minimum first-time deposit: £100 / $100
Details: The minimum deposit for the most common accounts (Premium, Zero Spread) is $100. The Micro account may have a lower minimum in some jurisdictions, but $100 is the standard for the FCA entity.
Deposit/withdrawal fees: None. HFM does not charge any internal fees for deposits or withdrawals.
Account types: Premium, Zero Spread, and Micro accounts.
Trading conditions: Premium (1.2 pips, no commission) and Zero Spread (from 0.0 pips, commission applies).