10TradeFX or Fidelity – which is better for UK traders 2024? Compare 10TradeFX and Fidelity in this detailed breakdown of their platforms, features and fees.
10TradeFX is an offshore regulated forex and CFD broker. The brand offers MetaTrader platform integration with spreads as low as 0.1 pips. The broker offers true STP and ECN execution. The low minimum deposit, social trading and funded trader account programme makes 10TradeFX appealing to new traders.
Fidelity is a popular financial services firm that provides investment accounts and pensions with access to thousands of stocks, ETFs and mutual funds to clients based in the US, Europe and Asia. Fees vary by asset and account country, but are generally competitive, with zero-commission trading available on US stocks.
Pros
I appreciate the flexible access to the MetaTrader 5 web and mobile platforms as well as TradingView charting and copy trading functionality
There are some diverse and popular asset classes on offer including forex, stocks, crypto and NFTs
I'm a fan of the comprehensive learning academy backed by London’s Association of Trading & Investment (ATI)
I like that traders can benefit from the Funded Trader program with up to $500,000 account size and 70% profit split
Excellent list of stocks and funds to choose from
Very competitive pricing compared to largest rivals
Good list of account types to suit various types of investor
Uninvested cash is automatically put into a money market fund
Trusted global brand with strong regulation from SEC & FCA
Tax-efficient vehicles are available including ISAs
Cons
I'm disappointed that the broker is regulated offshore by the Seychelles Financial Services Authority (SFSA) and is not overseen by any top-tier authority
I don't like how limited the shares offering is at 10TradeFX, putting them low in my rankings for market availability
No forex or CFD trading
There is no demo account
Less suitable for short-term trading
Presentation of data is overly complicated
No trading platform for non-US clients
The $1000 minimum deposit for international clients is high
Awards
Boring Money Best Buy 2021 – Pension
Boring Money Best for Beginners Pension 2021
Boring Money Best for Beginners ISA 2021
Boring Money Best for Low - Cost Pension 2021
Online Personal Wealth Awards - Best Retirement Adviser 2021
Shares Awards 2020 - Best Execution-Only Stockbroker of the Year
10TradeFX offers 200+ CFDs available to trade on the MT5 terminal. This is a relatively small range compared to most competitors I've reviewed. That said, the minimum deposit requirement to get started is only $50, which is great news for beginners.
Leverage
1:600
FTSE Spread
200
GBPUSD Spread<
1.5
Oil Spread
20
Stocks Spread
29
Forex
My tests uncovered an average range of 40+ major, minor and exotic currency pairs with spreads as low as 0.1 pips and leverage up to 1:500. I like that the broker offers flexible contract sizes between 0.01 and 1 lot.
Assets
39
GBPUSD Spread
1.5
EURUSD Spread
1.5
EURGBP Spread
1.5
Cryptocurrency
There are 10+ crypto instruments available, including Bitcoin, Ethereum and Litecoin. Again, this is pretty limited for active crypto traders but I am glad to see some popular altcoins available 24/7 including Polkadot and Chainlink.