StoneX is a broker that offers a huge range of instruments and great beginner resources but this comes with high spread pricing, high inactivity fees and poor customer service.
StoneX Trading: UK Trading Broker Review 2026
When I first tested City Index (now StoneX Trading as of 9 September 2026), I already knew it had a reputation as one of the industry’s oldest and most established brokers. Founded in 1983, City Index had been a go-to option for UK traders for decades, especially for those who appreciate a wide range of tradable markets and user-friendly platforms.
Now that it’s rebranded, I wanted to see how it measures up against newer brokers like Capital.com and Pepperstone. I also wanted to see how it would measure up to its famous sister site – Forex.com.
After weeks of exploring their platform, fees, execution speeds, and other features, I can confidently say that StoneX Trading is a great broker for beginners. Here’s everything you need to know before deciding whether StoneX Trading is the right broker for you.
- Access to over 13,500 trading instruments, including forex, indices, shares, and commodities
- Competitive spreads, particularly on forex and indices
- FCA-regulated, providing security and reliability for UK traders
- Multiple platform options, including MetaTrader 4 and proprietary tools like Web Trader
- Excellent educational resources and regular market analysis
- No MetaTrader 5 support, which could limit advanced traders
- Inactivity fees apply after 12 months of no trading
Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Is StoneX Trading a Good Broker?
Verdict
StoneX Trading is a solid choice for beginner UK traders, especially those who value a diverse range of tradable assets and reliable execution. While it doesn’t offer MT5 or cTrader for retail traders and its forex spreads are wider than most competitive brokers (StoneX starts at 0.7 pips vs IG’s 0.6 pips and CMC Markets’ 0.5 pips for EUR/USD), it makes up for it with a wide instrument range and robust trading tools.
Intermediate and advanced traders may find the lack of cTrader and MT5 options, the lack of a commission-based account option, and higher spreads not conducive to high-volume, high-frequency, or professional trading.
How Does StoneX Trading Compare to Other Brokers?
StoneX Trading comparisons
Compare StoneX Trading with Other UK Brokers
Explore 2 StoneX Trading comparison guides
VS
Pepperstone vs StoneX Trading
A side-by-side look at Pepperstone and StoneX Trading across platforms, spreads, fees, market access and the overall experience for UK traders.
VS
IG vs StoneX Trading
Compare IG and StoneX Trading across platform quality, spreads, market range, spread betting and the overall trading experience.
What Can I Trade on StoneX Trading?
Trading Markets – 5 / 5 Stars
StoneX Trading offers one of the most diverse ranges of markets, competitive with IG in terms of tradable assets, with access to 13,500+ instruments vs IG’s 16,000+. While this trails CMC’s 21,000+ instruments, it currently offers the third-largest instrument range among FCA-regulated UK brokers, with CMC, IG, and then StoneX as the top three.
What You Can Trade
- Forex: StoneX Trading really goes all out with its forex offerings. It offers over 85+ currency pairs, from majors like EUR/USD to niche exotics. I found the spreads on major pairs (starting at 0.5 pips on the spread betting account)) to be tight and competitive, especially for standard accounts. This made scalping and day trading feel like a breeze.
- Indices: If you’re an indices trader, you’ll love StoneX Trading. With access to big names like the FTSE 100, NASDAQ 100, and S&P 500, there’s plenty of room to diversify. The spreads here are in line with the best forex brokers like IG and CMC, starting as low as 0.4 points on major indices.
- Commodities: StoneX Trading’s commodities selection is another strong point. Alongside popular choices like gold and crude oil, you can also trade soft commodities like coffee and wheat. Spreads are fair, with gold CFD spreads starting at 0.3 points; this is roughly in line with other major brokers, but far off Pepperstone’s gold spreads of 0.1 and 0.08 pips.
- Shares and ETFs: This is where StoneX Trading truly shines. You get access to thousands of shares and ETFs from global markets, including the UK and US. Whether you’re trading high-profile stocks like Apple or experimenting with sector-focused ETFs, the choices feel endless.
- Cryptocurrencies: Due to FCA regulations, cryptocurrencies are limited to professional traders. Retail traders won’t find crypto CFDs here, but if you qualify as a pro, you’ll find Bitcoin, Ethereum, and other key players available.
My Experience
I tested GBP/USD and EUR/USD during both volatile and quieter periods, and the tight spreads held up well. Execution speeds were lightning-fast (more on that later), making even quick scalping strategies viable.
Indices like the FTSE 100 and NASDAQ 100 stood out for their low spreads and reliability. Whether I was testing day trades or longer-term positions, the costs stayed predictable, and the platform handled even the busiest market sessions without a hitch. The range of shares was a highlight.
Verdict
StoneX is a great index broker (from 0.4 points), a fair commodities broker (gold spreads from 0.5 points), and a weaker forex broker (tested spreads from 0.7+ pips). However, the variety is relatively unmatched, with only IG and CMC Markets beating them on variety.
StoneX Trading Markets Summary.
With the second-highest number of tradable assets in the UK (13,000+), second only to IG, StoneX Trading is an enviable broker in many respects.
Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
What Are the Fees for StoneX Trading?
Fees – 3 / 5 Stars
StoneX Trading’s spreads are somewhat difficult to decipher. Some pages claim spreads from 0.5 pips on forex spreads (see below).
Other pages claim spreads from 0.4 pips (see below).
And we even found a table claiming spreads from 0.2 pips on forex CFDs (see below).
This meant we had to do hands-on testing.
We found that StoneX Trading’s forex spreads were much wider than what we experienced on Pepperstone, IG, and CMC, which all stayed at or near their minimum quoted spreads. We experienced spreads much closer to their live quoted prices – nearer 0.8 -1 pip on forex pairs during non-US times.
While some spreads probably drop much further, we didn’t see this on EUR/USD pairs, and the lowest recorded was 0.7 pips, which is in line with their minimum quoted spread on one of their pages.
What to Expect
- Forex Spreads: Spreads on forex pairs normally trade at 0.7 pips for popular pairs like EUR/USD. This is higher than IG and CMC’s spreads of 0.6 and 0.5 pips, respectively.
- Indices Spreads: Trading indices like the FTSE 100 or S&P 500 comes with spreads as low as 0.4 points. During my testing, I found these spreads remained consistent, even during periods of moderate volatility.
- Shares CFDs: For share CFDs, SpreadEx charges a commission. UK shares have a rate of 0.08% per trade with a £10 minimum (higher than XTB but on par with IG), while US shares are charged at 1.8 cents per share with a $10 minimum.
- Commodities Spreads: Commodities like gold and oil have spreads starting at 0.5 pips and 3.0 points respectively, which is competitive but not the lowest I’ve encountered.
- Inactivity Fees: A £12 monthly fee applies after 12 months of inactivity. This is now fairly uncommon, as IG abolished its inactivity fee in 2026. £12 is also quite steep; most brokers have £10 inactivity fees, if at all.
My Experience
While testing, I focused on forex and indices. We got 0.7-1.2 pips on EUR/USD fairly consistently, which is high for a major broker.
The share CFD commissions were fair, especially given the variety of stocks available. Although £10 might feel steep for smaller trades, it’s competitive and in line with IG, so the percentage rates work well for medium to large trades.
One downside was the inactivity fee, which can add up if you’re not actively trading. However, StoneX provides plenty of reminders to keep your account active, so it’s easy to avoid this charge.
Verdict
StoneX Trading has quite steep forex spread pricing compared to other leading brokers like IG and CMC Markets (0.7 pips vs 0.6 and 0.5 pips respectively). We found spreads rarely matched or stayed at the quoted minimums, unlike other major brokers. 0.5 pips on Gold is also higher than both Pepperstone and CMC Markets. Their £12 inactivity fee is also pretty steep compared to other brokers. However, for index trading, their 0.4 pip spread is in line with the best broker for index trading, IG, and share dealing commissions are also in line with other brokers.
StoneX Trading Fees Summary.
Similar in many respects to IG, StoneX Trading is a mixed bag. Less cost-effective for forex trading, but better for stocks and indices.
Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
What Are StoneX Trading’s Platforms?
Trading Platforms – 4 / 5 Stars
StoneX Trading’s platform offering is relatively limited compared to most other brokers. While they offer MT4, TradingView and their own proprietary platform, there is no cTrader or MT5. MT4 and TradingView open up some algorithmic trading opportunities through Pine Script and MQL, but MT5 would have been a good addition.
What’s Available
- MetaTrader 4 (MT4): For forex and algo traders, MT4 is a no-brainer. It comes packed with customisable indicators, automated trading via EAs, and robust charting tools. StoneX Trading’s integration is great, making it easy to get started.
- Web Trader: StoneX Trading’s proprietary Web Trader platform is intuitive and feature-rich. It’s browser-based, so no downloads are needed, and it includes advanced charting tools, fast execution, and one-click trading. However, it is once again a TradingView-based iFrame embedded in a platform, so while City Index handles the broker execution side, TradingView handles the charting software. While this may not be a deciding factor for anyone, it would have been nice to see such a storied broker develop something proprietary.
- Mobile App: StoneX Trading’s mobile app is available on iOS and Android. The mobile app mirrors the Web Trader experience, letting you trade and analyse the markets on the go. I liked the real-time alerts and customizable dashboard. Whilst it didn’t have the slick feel of SpreadEx or the polish of FxPro, it was still nice to have.
My Experience
I spent most of my time using the Web Trader platform, which was easy to use and navigate; it felt like the Pepperstone Platform or Vantage Markets: simple, functional, and easy to use. It won’t blow you away – unlike Forex.com, its sister company, which has some fantastic features- but it does the job.
MetaTrader 4 integration was reliable, especially for testing automated strategies. I set up a few EAs during testing and found execution speeds excellent, with no noticeable delays.
Verdict
StoneX Trading has three main platforms: MT4, TradingView, and its own proprietary platform. All work well, but the lack of MT5 and cTrader may leave some algorithmic traders feeling a bit shortchanged. Their platform works well, and it’s functional, but Capital.com or SpreadEx offer better experiences.
StoneX Trading Platforms Summary.
Surprisingly lacking in the variety front – it seems StoneX Trading’ would like you to trade on their web trader platform rather than explor.’s platforms are functional and clean.
Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Does StoneX Trading have Good Execution Speeds?
Execution Speed – 5 / 5 Stars
In Short: Yes, StoneX Trading is one of the fastest CFD & spread betting platforms for execution speed. They claim a 0.002-second execution speed (see above) and operate a no-dealing desk (NDD) model, ensuring trades execute directly in the market with minimal interference.
My Experience
I tested execution across multiple asset classes, including forex, indices, and shares, and found the performance to be top-notch. Orders were executed almost instantly, even during periods of high market volatility.
For forex trading, I noticed minimal slippage, which is a huge plus when trading high volume or in fast-moving markets. Indices were equally smooth, with tight spreads maintained even during news releases.
Share CFD execution was reliable, and I didn’t experience any noticeable delays, even when trading smaller-cap stocks that are typically less liquid.
Verdict
StoneX Trading excels in execution speed, making it ideal for day traders and anyone relying on precise order placement. I wouldn’t recommend it for high-volume or high-frequency trading because of the wide spreads and lack of a commission-based account; although slippage may be low, the spreads are still wide, leading to higher costs despite the execution speed.
StoneX Trading Execution Summary.
StoneX Trading is quick and reliable for execution. However, without a commission-based account and with wide forex spreads, I wouldn’t choose it for high-volume or high-frequency trading.
Is it Easy to Deposit and Withdraw from StoneX Trading?
Deposit & Withdrawal – 4 / 5 Stars
StoneX Trading makes depositing and withdrawing funds straightforward, with a variety of payment methods available to suit UK traders.
What You Can Use
- Debit/Credit Cards: Most deposits are processed instantly.
- Bank Transfers: These can take 1–3 business days, depending on your bank.
- PayPal: A convenient option for those who prefer e-wallets.
My Experience
Depositing funds was easy enough. I used a debit card for my initial deposit, and the funds appeared in my account almost instantly. Withdrawals were equally smooth. I requested a withdrawal via bank transfer, and the funds arrived in my account within two business days.
There are no deposit or withdrawal fees on StoneX Trading’s end. However, it’s worth checking with your bank or payment provider to avoid surprises. However, third-party fees (e.g., from your bank) may still apply, so it’s worth double-checking.
Verdict
StoneX Trading’s deposit and withdrawal process is quick, hassle-free, and fee-free on their side. The variety of payment methods adds convenience, making it easy to manage your funds.
StoneX Trading Deposit & Withdrawal Summary.
Routine here, with standard payment processors, no e-wallets, and average processing speeds. No withdrawal and deposit fees are a plus, though.
Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Is StoneX Trading a Legit & Regulated Broker?
Regulation and Security – 5 / 5 Stars
The StoneX Group Inc., the owner of both StoneX Trading and Forex.com, is a publicly traded company listed on the NASDAQ under the ticker SNEX.
For UK traders, we need to look at the FCA Firm Checker to check the credentials and StoneX Trading is listed under the reference: 446717 (see below).
Verdict
StoneX Trading, like the IG Group, is a publicly traded company and is regulated by the FCA for financial services investments in the UK.
StoneX Trading Regulation Summary.
Highly regulated by multiple jurisdictions and backed by a publicly traded behemoth, StoneX makes this a great option.
Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
How Easy Is It to Get Started with StoneX Trading?
Customer Service & Onboarding – 1 / 5 Stars
Opening an account with StoneX is simple, quick and relatively painless – simply enter your email and follow the onboarding steps (see above). While this isn’t as clean as Capital.com, which has one of the most user-friendly onboarding experiences for both demo and live accounts, StoneX still provided a relatively smooth onboarding.
My Experience
However, after applying and following all KYC checks, I was asked by the StoneX customer service team, ‘What is the purpose of opening an account?’. A question that frankly I’d never encountered or been asked before (see below).
I told them it was for a review, and i encountered the most unfriendly response of any broker I’ve ever registered with asking me ‘Thanks, but you didn’t answer the question. What is the purpose of opening a retail trading account?’
While this is a subjective experience, I have been in touch with different customer service representatives from StoneX over the past 3 years, and they have been just as rude. I wouldn’t recommend them for customer service.
Verdict
StoneX Trading (previously City Index) scores very poorly for customer service; they currently have only 58% 5-star reviews and 20% 1-star reviews on TrustPilot, which is 1/5 of people who have 1-star experiences. From personal experience, I’ve had a bad onboarding and customer service experience multiple times.
StoneX Trading Customer Service & Onboarding Summary.
Quick, beginner-friendly onboarding process but bad customer service experiences.
Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Is StoneX Trading Beginner-Friendly?
Education – 5 / 5 Stars
StoneX offers some serious resources for beginners. They offer a step-by-step Academy with detailed courses, videos, and images that walk you through the stages of trading, plus courses for advanced and beginner traders.
What’s Available
- Trading Academy: A series of video tutorials covering everything from beginner basics to advanced trading strategies.
- Webinars: Regular live webinars hosted by industry experts, focusing on market trends and trading tips.
- Market Analysis: Daily updates on market movements, economic events, and key trading opportunities.
- Tools and Add-ons: Advanced trading tools, including Smart Signals and technical indicators, to help refine your strategies.
They also have an active YouTube channel that, by the looks of it, is updated daily. This is extremely detailed, and the level of analysis you would expect from a major broker like StoneX or IG.
My Experience
After going through StoneX Trading’s courses, videos, and lessons. They provide a solid foundation for beginners starting out, as well as advanced traders looking for market analysis. This is one of the most comprehensive resources available for beginner traders and on par with something like IG Academy.
Verdict
StoneX Trading’s educational offering is second-to-none. They really have analysis, courses, videos, images, lessons, a glossary, regular market-specific content and more. It fits the bill for almost any kind of trader.
StoneX Trading Education Summary.
Simple but effective, not the most comprehensive in the trading space, but enough for beginners to get started.
Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FAQs
1. Is StoneX Trading regulated?
Yes, StoneX Trading (formerly City Index) is FCA-regulated under reference number 446717.
2. Does StoneX Trading have low fees?
No. Based on our testing and StoneX Trading’s own documentation, forex pair spreads are consistently wider than competitors like IG and CMC Markets. StoneX Trading quotes different minimum spreads on different pages, but our testing shows EUR/USD spreads often hover at 0.7 pips or higher. Compared to IG’s 0.6 and CMC’s 0.5 pips on EUR/USD this is high. Competitor brokers also stay closer to their minimum quoted spreads more often than StoneX Trading.
3. Is StoneX Trading good for high-volume trading?
No. StoneX Trading doesn’t offer a commission-based account and has wider spreads than IB or Pepperstone on forex pairs. Without a commission-based account, spreads are paramount, and high spreads like those on StoneX Trading are often expensive at high volumes.
4. Is StoneX Trading good for beginners?
Yes, StoneX Trading is good for beginners, with one of the most comprehensive Academy offerings from any UK broker, alongside IG’s IG Academy. They provide videos on YouTube, along with images and step-by-step tutorials on their main site.
5. Does StoneX Trading have good customer support?
StoneX’s TrustPilot currently has 20% 1-star reviews. Our own testing of customer support through onboarding also led us to the same conclusion that StoneX Trading likely needs a chatbot or another customer service interface given the inconsistency in customer support quality.
6. What platforms does StoneX Trading offer?
City Index provides access to MetaTrader 4, a proprietary Web Trader, TradingView and a fully-featured mobile app. However, there is no MT5 or cTrader, which may feel limiting to those wanting to build algorithmic trading systems.
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StoneX Trading Details
