All FAQs

TraderGuide is an independent broker comparison website that helps traders find the most cost-efficient FX and CFD brokers worldwide. We open live trading accounts, track real bid-ask spreads across 50+ regulated brokers, and publish our findings without bias. Our rankings are based purely on data—brokers cannot pay to appear higher on our list.
Our tagline is: Compare. Decide. Maximize.

TraderGuide is headquartered in Hong Kong. We cover brokers regulated across all major jurisdictions, including the UK (FCA), Australia (ASIC), Europe (CySEC, BaFin), and beyond, making our comparisons relevant to traders worldwide.

TraderGuide is completely free to use. When a trader opens a broker account through one of our links, the broker may pay us an affiliate commission. This never adds any cost to the trader—and in most cases, TraderGuide has negotiated exclusive deals that mean traders may access better conditions through our links than by going direct. Our commercial relationships never influence our rankings, which are determined solely by spread data.

Our rankings are determined entirely by one metric: the real cost of trading. We open live accounts, record actual bid-ask spreads during live market conditions, and calculate a total cost score for every broker we list. Brokers cannot pay to improve their ranking position. A broker ranked number one on TraderGuide is there because its spreads are the tightest—full stop.

Every broker on TraderGuide is ranked by its total cost score—the sum of bid-ask spreads across 16 financial instruments, including 7 major FX pairs, 6 stock indices, and 3 commodities. We record the widest spread observed during the EU and US trading sessions, giving traders a realistic worst-case picture rather than an advertised best-case minimum. The lower the total score, the cheaper the broker.

We track spreads on 16 instruments: EUR/USD, GBP/USD, USD/JPY, EUR/JPY, USD/CHF, AUD/USD, USD/CAD, FTSE 100, DAX, CAC 40, NASDAQ 100, Dow Jones, S&P 500, US Crude Oil (WTI), Gold (XAU/USD), and Silver. These cover the most actively traded markets across forex, indices, and commodities.

Spread data is monitored continuously and updated regularly to reflect current market conditions. Trading costs change—brokers adjust their pricing, and market volatility shifts spreads—so we ensure traders always have access to current data when making their decision. Each broker page displays the date of the most recent update.

The bid-ask spread is the difference between the buy price and the sell price of an instrument—and it is the cost you pay on every single trade, every time you open and close a position. A broker charging a 3-point spread on gold requires three times the market movement to break even compared to a broker charging 1 point. Over dozens of trades per week, even a small difference in spread compounds into a significant difference in annual profitability. This is why TraderGuide tracks real observed spreads rather than advertised minimums—the minimum a broker advertises is often not what you will actually pay.

A variable spread changes depending on market conditions—it may be tight during quiet sessions and widen significantly during news events or periods of high volatility. A fixed spread stays the same at all times, regardless of what the market is doing, giving traders certainty about their costs before every trade. Only a small number of brokers offer fixed spreads. Trade Nation is the most prominent example on TraderGuide, offering fixed spreads across a wide range of instruments.

Use TraderGuide's Match Me tool at the top menu. Select what instrument/market you trade, or which leverage you prefer—and we match you with the broker offering the best conditions for your specific situation. It takes about 30 seconds and is completely free.

Based on TraderGuide's live spread tracking data, EightCap currently leads the rankings for gold with the tightest observed spreads. Full gold broker rankings and a detailed comparison are available with our Match Me tool.

IC Markets ranks among the tightest for US Crude (WTI) in TraderGuide's live spread tracking. Full crude oil broker rankings and a detailed comparison are available with our Match Me tool.

The tax-free status of spread betting—no capital gains tax, no stamp duty on profits—applies only in the UK and Ireland. These are the only two countries where this specific tax treatment exists. Spread betting is not available to US residents, and traders outside the UK and Ireland do not benefit from the CGT exemption. For traders elsewhere in the world, a CFD account offers identical market access and is the appropriate structure.

Yes. Every broker listed on TraderGuide is regulated by a recognised financial authority. The majority hold authorisation from one or more tier-one regulators, including the FCA (UK), ASIC (Australia), CySEC (Cyprus), BaFin (Germany), and DFSA (Dubai). We do not list unregulated brokers. Regulation details are displayed on every broker review page.

The Financial Services Compensation Scheme (FSCS) is a UK government-backed scheme that protects eligible client deposits up to £85,000 if an FCA-regulated firm fails. It applies to UK retail clients of FCA-authorised brokers. Brokers on TraderGuide that carry FSCS protection include Trade Nation, Pepperstone, CMC Markets, IG, and City Index, among others. FSCS eligibility is confirmed on each broker's TraderGuide review page.

German retail traders are classified as EU clients and are typically served through a broker's CySEC-regulated entity. Brokers on TraderGuide that accept German clients include Pepperstone, EightCap, FP Markets, and others. EU clients trade under ESMA leverage limits and are protected by the investor compensation schemes of their broker's EU-regulated entity. Always verify availability for Germany directly with the broker before opening an account, as entity structures can change.

The vast majority of brokers listed on TraderGuide accept clients from Brazil. Brazilian traders typically access brokers through offshore-regulated entities rather than FCA or ASIC entities, so leverage limits and regulatory protections will differ from those available to UK or EU clients. Use TraderGuide's country guide and select Brazil to see the full current list, or use the Match Me tool to find the best broker for your specific trading needs.

Danish traders are EU-based clients and are served through a broker's CySEC-regulated entity, in line with ESMA rules. This means the same leverage limits and investor protections apply as for other EU retail clients—30:1 on major forex pairs, 20:1 on major indices and gold, and so on. The majority of brokers on TraderGuide that accept EU clients are available to Danish traders. Use TraderGuide's country guide and select Denmark to see the current list, or use the Match Me tool to find the best option for your trading needs.

Due to restrictions from Belgium's FSMA regulator, most CFD brokers do not accept Belgian clients. Among the brokers on TraderGuide, EightCap accepts Belgian clients through its CySEC-regulated entity, and CMC Markets also accepts Belgian clients. Belgian traders should verify availability directly with the broker before opening an account.

The fastest way to check is to use TraderGuide's free scam checker—type in any broker name and we will tell you instantly whether it is legitimate or not. It covers brokers worldwide and takes seconds.
Beyond that, the warning signs are consistent regardless of where you are based: brokers that are not regulated by a recognised authority, that promise guaranteed returns, that pressure you to deposit more money, or that make it difficult to withdraw your funds. If a broker cannot clearly show you a licence number from a reputable regulator, that alone is reason to walk away.
When in doubt, always check before you deposit.

FCA regulations cap leverage for UK retail clients at 30:1 on major forex pairs, 20:1 on major indices and gold, 10:1 on commodities other than gold, and 5:1 on individual shares. These limits are mandatory for all FCA-regulated brokers—no FCA-regulated broker can legally offer UK retail clients higher leverage than these caps. That said, some brokers on TraderGuide offer higher leverage—up to 500:1—through their offshore entities, which UK traders can technically access, though this comes without FCA protections. See the question on 500:1 leverage for the full picture.

No. FCA-regulated brokers are legally prohibited from offering UK retail clients leverage above 30:1 on major forex pairs, with lower caps on other asset classes. Leverage of 500:1 is only available through brokers operating under offshore regulators—such as the FSA (Seychelles), VFSC (Vanuatu), or FSCA (South Africa)—where leverage rules are significantly less restrictive. Some brokers on TraderGuide offer 500:1 leverage through their offshore entities, available to traders outside the FCA and ASIC jurisdictions. It is important to understand that offshore entities do not carry the same client protections as FCA or ASIC-regulated accounts—there is no FSCS protection, and regulatory oversight is considerably lighter. Use TraderGuide's Match Me tool to find brokers offering the leverage available in your specific country.

EU retail traders fall under ESMA leverage limits, which mirror the FCA's caps: 30:1 on major forex pairs, 20:1 on major indices and gold, 10:1 on other commodities, and 5:1 on individual shares. These limits apply across all CySEC-regulated entities serving EU clients. As with UK traders, higher leverage of up to 500:1 is available through the offshore entities of some brokers on TraderGuide—but without the investor protections that come with a CySEC-regulated account. See the question on 500:1 leverage for more details.

Yes. Traders who qualify for professional client status with an FCA or ASIC-regulated broker can access leverage significantly above the retail caps—often up to 500:1 on forex. However, professional status comes with important trade-offs: FSCS protection is removed, negative balance protection may not apply, and the broker is no longer required to provide the same level of risk warnings and safeguards as for retail clients. Brokers are required to assess whether a trader genuinely meets the professional criteria—it cannot simply be requested without qualification.