The method
- Confirm both entities are FCA-authorised
- Calculate all-in cost per lot for your typical trade
- Check your platform is available to UK clients at both
- Test execution and support on demo
- Compare payments, fees and extras
Step 1: regulation and entity
Look up both firms on the FCA register and confirm the entity in each client agreement. If one would onboard you through an offshore company, that's usually decisive.
Step 2: all-in cost
Use your own typical trade — for example, 0.5 lots of GBP/USD held for two days:
| Cost element | Broker A | Broker B |
|---|---|---|
| Average spread × pip value × lots | ||
| Commission (round turn) | ||
| Financing × nights | ||
| Total |
Step 3: platform fit
If you depend on MT4 Expert Advisors, TradingView charts or spread betting, check each broker offers them to UK clients — availability can differ between a group's entities.
Step 4: test drive
Open demos with both. Compare quotes side by side at the same time, place orders around news, and ask both support teams the same three specific questions.
Step 5: the extras
- Minimum deposit and funding methods
- GBP account availability
- Research and education
- Inactivity and other non-trading fees
See it in practice
Our comparisons use exactly this method: Hantec Markets vs IG, Hantec Markets vs Pepperstone, IG vs Pepperstone.
Frequently asked questions
What's the single most important comparison point?
The legal entity and its regulator. After that, all-in trading cost for the way you actually trade.
Should I open accounts with both?
Opening demo accounts with both is a good idea. Many traders also keep two live accounts for redundancy.
CFDs and spread bets are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading these products. You should consider whether you understand how they work and whether you can afford to take the high risk of losing your money.