StoneX Trading Review 2026: FCA Regulation and Costs

What Is StoneX?

StoneX is a global financial services group listed on Nasdaq under the ticker SNEX. Founded in 1924, it operates across futures clearing, physical commodities, global payments and institutional financial services. Its retail trading business operates under the StoneX Trading brand in the UK.

StoneX Trading was previously known as City Index, a London-based broker launched in 1983. GAIN Capital, the owner of FOREX.com, acquired City Index in 2015. StoneX bought GAIN Capital in July 2020, bringing both brands under the same group. The UK legal entity became StoneX Financial Ltd, while City Index continued as its retail trading brand.

On 9 September 2026, StoneX announced the rebrand to StoneX Trading. The City Index UK name was retired on 12 September. Existing clients kept their accounts, logins, platforms and support arrangements. The brand had already withdrawn from Singapore in April 2025 and Australia in August 2025, with clients transferred to FOREX.com.

An important point for UK clients is that StoneX Trading and FOREX.com operate under the same legal company, StoneX Financial Ltd, and share one FCA authorization. Clients holding funds with both brands do not receive separate FSCS protection limits.

StoneX Trading offers spread betting and CFDs on more than 13,500 markets, including forex, indices, shares, commodities, government bonds and options. UK retail clients cannot trade crypto CFDs because of the FCA's retail ban introduced in January 2021. Professional clients can access them.

The broker operates a market-making model, taking the other side of client trades and using liquidity from the wider StoneX group. Most markets are commission-free, with trading costs included in the spread. Share CFDs carry a separate commission.

StoneX reports an average execution speed of 0.002 seconds, with 99.83% of trades filled in under one second. We checked its execution claims through our own live testing. The results appear later in this review.

The rebrand followed a weaker quarter for the retail business. In the June 2026 quarter, StoneX reported a 19% decline in retail FX and CFD revenue and a 27% fall in daily trading volume. These figures provide business context but do not, on their own, indicate a change in client protection.

For this review, BrokersProfile opened a Standard account using Web Trader and a separate MT4 account with StoneX Financial Ltd. We traded both with real money over 28 trading days, from 1 September to 8 October 2026, covering the final City Index period and the first weeks under the new StoneX Trading name. We measured trading costs, execution, withdrawals and the overall client experience.

How We Reviewed StoneX

We tested StoneX Trading with real money over 28 trading days, from 1 September to 8 October 2026. Our team opened two retail accounts with StoneX Financial Ltd: A Standard account using Web Trader and TradingView, and a separate MT4 account. We deposited £500 by debit card and £300 by Faster Payments. Every figure in this review comes from live testing, not demo data.

The timing was important. Our test began while the broker was still using the City Index name and ended after the StoneX Trading rebrand. This allowed us to check whether the change affected existing clients or the way the broker operated.

Spread Logging

We logged live spreads every five minutes on six markets: EUR/USD, GBP/USD, USD/JPY, EUR/GBP, gold (XAU/USD) and the UK 100 index. We split the data into three sessions: Asia (00:00–07:00 UTC), London (07:00–12:00 UTC) and the London–New York overlap (12:00–16:00 UTC). We read every spread straight from the trade ticket on our live accounts.

Order Execution Runs

We placed 300 live market orders: 180 on MT4 and 120 on Web Trader. We measured each order from the moment we clicked to the fill confirmation, recording the time in milliseconds. We also tracked slippage, requotes and rejected orders. Six test days coincided with major economic releases, including the US jobs reports on 4 September and 2 October.

Support Checks

We contacted StoneX Trading support by live chat, phone and email with five set questions. We scored each answer on speed, accuracy and whether it solved the problem the first time.

License Checks

We checked StoneX Financial Ltd on the FCA Financial Services Register twice: on 2 September and 6 October 2026. We also searched for regulatory warnings, clone-firm alerts and Financial Ombudsman records.

BrokersProfile may earn a commission when readers open an account through our links. That never changes our scores, our test results or what we write.

Our Testing Methodology

What We Found During Our Testing

Spreads

StoneX Trading advertises EUR/USD spreads from 0.7 pips, but we never saw that level during our test. Over 28 days, the Standard account averaged 1.48 pips. London was the cheapest session at 1.36 pips, while Asia was the most expensive at 1.82 pips. The MT4 account averaged 1.54 pips.

Indices performed better. The UK 100 kept a fixed 1-point spread during UK trading hours in every check. Gold averaged 0.44 points ($0.44 per ounce). Both are reasonable costs for a commission-free account.

Platforms and Tools

Web Trader was our main platform, and it never froze or logged us out during testing. Charts loaded in under two seconds, even with six panels open. Performance Analytics needed around 25 closed trades before its reports became useful. Once enough data was available, it showed that we held losing EUR/USD trades about 40% longer than winning ones. It was a useful, if uncomfortable, finding. TradingView orders synced with Web Trader in about one second.

What Other Traders Say

We reviewed more than 160 recent client comments. In October 2026, StoneX Trading had a 4.3 out of 5 Trustpilot rating from 393 reviews. Positive feedback often mentioned fast withdrawals, helpful phone support and Web Trader's charts. Negative comments focused on wider forex spreads during Asian hours and margin close-outs in volatile markets. These points were consistent with our own test results.

Execution

Our 300 market orders filled quickly. MT4 averaged 54ms during the London session and 96ms in Asia. Web Trader averaged 61ms in London. Slippage affected 13.3% of orders: 6.0% received positive slippage and 7.3% negative. We recorded one requote on MT4 and none on Web Trader. Two orders were rejected, both within seconds of the US jobs report on 2 October.

Account Opening

The online application took 11 minutes to complete. StoneX asked more questions about our trading knowledge than many offshore brokers, in line with FCA requirements. Our account was approved 19 hours later, the following morning. The £500 debit card deposit appeared in our account within two minutes.

Withdrawals

Withdrawal 1 — £200 by Faster Payments: We asked on Tuesday 22 September at 10:05 UTC. The money reached our UK bank at 17:20 the same day, a total of 7 hours 15 minutes. StoneX charged no fee.

Withdrawal 2 — £150 to a debit card: We asked on Wednesday 30 September. The refund landed on Monday 5 October, 3 business days later. Again, no fee.

The Rebrand

We were trading live over the weekend when the name changed. Our logins, open positions and MT4 server details remained the same. The only action we needed to take was updating the mobile app on 13 September. We noticed no outage, repricing or change to margin rates.

Customer Support

Our Honest Take at BrokersProfile

StoneX Trading is built around regulatory standing and a long operating history, not the lowest spreads. Its FCA license dates back to 2006, and its parent company is listed on Nasdaq and ranked among the Fortune 100. The brand also has more than 40 years of experience serving UK traders. This combination of history and financial backing gives StoneX a strong foundation.

The platforms performed better than we expected. Web Trader is fast and easy to use, with TradingView charts built in. Performance Analytics stands out because it shows patterns in your trading, such as cutting winners too early or holding losing trades too long. Guaranteed stops also give risk-conscious traders a fixed exit price. With more than 13,500 markets available, there is plenty to choose from.

Trading costs are StoneX's main drawback. Our 1.48-pip average on EUR/USD works out to about $14.80 per standard lot. Raw-spread accounts at Pepperstone and Tickmill cost roughly half as much in our comparisons. StoneX does not offer a raw-spread account to UK retail clients. For frequent forex traders, that difference can add up quickly.

The platform range also has some gaps. StoneX does not offer MT5 or cTrader, and its older AT Pro desktop platform has been discontinued. Algo traders are limited to MT4 for running Expert Advisors.

One important point about protection: StoneX Trading and FOREX.com UK operate under the same legal entity, StoneX Financial Ltd. They do not provide two separate layers of protection. If you want to spread your funds across two UK-regulated brokers, choose firms with different legal entities.

Our verdict: StoneX Trading earns a BP Score™ of 81/100. It suits UK traders who value spread betting, index trading and the backing of an established financial group. High-volume forex scalpers may find its trading costs too high.

Is StoneX Safe? Regulation & Safety

StoneX Trading operates under FCA regulation through StoneX Financial Ltd, which has held its UK authorization since 24 March 2006. Its parent company, StoneX Group, is listed on Nasdaq and publishes audited financial statements each year. We found no FCA enforcement action against StoneX Financial Ltd during our checks.

StoneX Group also operates regulated businesses in several other markets, including the US (CFTC/NFA and SEC/FINRA), Canada (CIRO), Singapore (MAS), Australia (ASIC), Japan, Cyprus and Dubai. These licenses cover different StoneX entities and brands, including FOREX.com. They do not extend to every StoneX client. For UK StoneX Trading accounts, the relevant regulator is the FCA.

Regulatory Licenses — Verified October 2026

We checked the FCA register on 2 September and 6 October 2026. On both dates, StoneX Financial Ltd appeared as Authorized. The register also contained two clone-firm warnings, added in 2022 and 2023. These warnings concern scams impersonating StoneX, not misconduct by the firm itself. Check the website address and FCA reference number (FRN) before sending money.

StoneX Financial Ltd did not appear in the Financial Ombudsman's latest half-yearly complaints table. However, the table only includes firms with at least 45 resolved complaints during the period. Its absence means the firm did not meet that reporting threshold; it does not mean there were no complaints.

The Strength of the Parent Company

StoneX Group is much larger than its retail trading business. It is a Fortune 100 company involved in institutional futures clearing, physical metals trading and payment services worldwide. As a listed company, it publishes quarterly financial results and annual audited accounts, giving investors regular insight into its financial position. A strong parent company does not replace FCA protection, but its size and financial resources add another layer of reassurance.

Security Practices

Segregated Client Money

StoneX holds retail client funds in segregated bank accounts under the FCA's Client Assets Sourcebook (CASS) rules. This keeps client money separate from the firm's own funds. If StoneX failed, these accounts would be protected from being used to pay the firm's general debts, subject to the insolvency process.

FSCS Protection

If StoneX Financial Ltd failed and a shortfall remained in client money, eligible clients could claim compensation from the Financial Services Compensation Scheme (FSCS), up to £85,000 per eligible person per authorized firm. FOREX.com UK shares the same legal entity, so the limit applies across both brands, not separately to each. The FSCS does not cover trading losses or poor investment performance.

It is worth checking how much you hold across both brands when considering this protection.

Negative Balance Protection

All UK retail accounts include negative balance protection. This means a sudden market gap cannot leave you owing StoneX more than the funds in your account. Professional clients lose this protection when they choose to upgrade their status.

Account Security

StoneX offers two-factor authentication (2FA) through its client portal and mobile app. We enabled it during setup. The app also supports Face ID and fingerprint login for added account security.

Risk Management Tools

StoneX Trading gives you more risk tools than most UK brokers:

• Guaranteed stop-loss orders (GSLOs): Available on Web Trader. Your trade closes at the exact level you set, even if the market gaps. You pay a small premium, but only if the stop triggers.
• Standard and trailing stops: Available on every platform.
• OCO orders: One order cancels the other, so you can set a profit target and a stop together.
• Performance Analytics: A free tool that studies your past trades. It flags habits such as closing winners too soon or trading too large after a loss.
• PlayMaker: A planning tool that shows your risk and reward on the chart before you place a trade. It won a risk-management award from ForexBrokers.com the year it launched.
• Margin alerts: Email and app alerts warn you as your margin level falls, before StoneX closes positions.

StoneX Spreads & Trading Costs

StoneX Trading includes most of its trading costs in the spread. It charges no commission on forex, indices, commodities or bonds. This makes pricing easy to understand, but UK retail clients cannot reduce costs through a raw-spread account because StoneX does not offer one.

Live Spread Data – 28-Day Average (1 September – 8 October 2026)

On forex, StoneX sat at the expensive end of our UK peer group. Its 1.48-pip EUR/USD average was 0.5 pips above IG and more than double CMC Markets. FOREX.com, its sister brand, came in slightly cheaper at 1.30 pips.

Index trading was more competitive. StoneX quotes fixed minimum spreads during core market hours: 1 point on the UK 100, 1.2 points on the Germany 40 and 2 points on Wall Street. Our tests matched these figures at every check during UK hours. Outside those hours, the UK 100 spread widened to 4–5 points, which is typical of thinner market conditions.

Spreads widened most around major news releases. After the US jobs report on 2 October, EUR/USD briefly jumped to 4.6 pips for about 30 seconds before returning to normal levels within a minute.

EUR/USD Spread by Session

For EUR/USD, our London-session trades were cheaper. The Asian session cost about one-third more per trade, so traders looking to reduce spread costs may prefer trading during London hours.

Commission on Shares

Share CFDs carry commission instead of a wider spread:

UK shares: 0.08% per side, with a £10 minimum.

US shares: 1.8 cents per share, with a $10 minimum.

The £10 minimum makes small UK share trades expensive. A £2,000 position incurs £10 each way, or £20 in round-trip commission. That is 1% of the position before any market movement.

Other Fees

• Deposits and withdrawals: Free by card and bank transfer.
• Inactivity fee: £12 per month after 12 months without trading.
• Currency conversion: Applies when you trade in a currency different from your account's base currency.
• GSLO premium: Payable only when a guaranteed stop-loss order is triggered.

Real Cost of a Trade

Headline spreads do not show the full cost of trading. Here is what three different types of traders would pay at StoneX, based on our test results.

Trader A – Casual forex trader, EUR/USD, 1 standard lot, held one night

For someone placing only a few trades each month, these costs may be manageable. However, a trader placing 40 lots a month would pay about $592 in spread costs alone. A raw-spread account charging around $7 per lot would cost roughly $280 for the same volume.

Trader B – Index spread bettor, UK 100 at £10 per point, 20 trades a month

This is where StoneX stands out. Its fixed 1-point UK 100 spread matches leading UK brokers. UK spread betting profits are also generally exempt from capital gains tax, although individual tax circumstances can vary.

Trader C – UK share CFD trader, £5,000 position in a FTSE 100 stock

Share traders with small positions should watch the £10 minimum commission. Once a trade exceeds £12,500 per side, the 0.08% rate becomes the main cost, reducing the relative impact of the minimum fee.

Tax treatment depends on your personal circumstances and may change.

StoneX Trading Platforms

StoneX Trading offers four trading options: its own Web Trader, the StoneX Trading mobile app, MetaTrader 4 and TradingView. Web Trader, the app and TradingView use the Standard account. MT4 requires a separate account and login.

Web Trader

Web Trader is StoneX Trading's main platform and runs in any modern browser. You can build a workspace with panels for watchlists, charts, news and open positions. Selecting a symbol in one panel updates all linked charts. You can also drag stop-loss and limit levels directly on the chart, and the platform updates the order automatically.

We liked how much Web Trader brings together on one screen. Reuters headlines, an economic calendar, research articles, Performance Analytics and PlayMaker all sit alongside the charts. The main drawback was the initial setup. Building a new layout panel by panel took us about 15 minutes.

Web Trader offers the main order types most traders need: market, limit, stop, trailing stop, one-cancels-other (OCO) and guaranteed stop. You can attach stop-loss and take-profit levels when opening a trade. Orders can also remain active until cancelled or expire at a set time.

MetaTrader 4

StoneX retains MT4 for traders who use Expert Advisors or custom indicators. It includes one-click trading, a customizable economic calendar and the full MQL4 environment. However, MT4 offers fewer markets than Web Trader and does not support spread betting or guaranteed stops. Our EUR/USD tests also showed MT4 spreads averaging about 0.06 pips wider than Web Trader.

TradingView

You can connect your StoneX Trading account to TradingView and place trades directly from its charts. This suits traders who prefer TradingView's charting tools. Orders, positions and balances sync with Web Trader in real time. As of October 2026, StoneX Trading had a 3.6 out of 5 rating from 241 users on TradingView's broker page.

What Is Missing

StoneX does not offer MT5 or cTrader to UK clients, and it no longer promotes its older AT Pro desktop platform. Traders who want a downloadable platform beyond MT4 or need MQL5 support will have to look elsewhere.

StoneX Account Types

StoneX Trading keeps its account range simple. It offers no Prime or raw-spread tier, so all retail clients receive the same pricing. The largest traders may qualify for volume rebates after meeting the requirements for professional client status.

Standard Account

This is StoneX's main account and the standard choice for most retail traders. It offers spread betting and CFDs, access to the full market range, guaranteed stops and all analysis tools. There is no minimum deposit, although StoneX recommends starting with £100 to provide enough margin for an initial trade.

Spread betting or CFDs? Both are available through the Standard account. Spread bets are priced in pounds per point, and profits are generally free from UK capital gains tax and stamp duty. CFDs are priced in contracts and may allow losses to be offset against other gains for tax purposes. They can also suit traders who report in foreign currencies. The tax treatment depends on your circumstances, so seek professional advice if you are unsure.

MT4 Account

The MT4 account has a separate login and balance. You can transfer funds between it and your Standard account through the client portal. It uses the same spread-only pricing but offers fewer markets.

Professional Account

You can apply for professional client status if you meet at least two of these three criteria:

1. A financial portfolio, including cash, worth more than €500,000.
2. An average of at least 10 large trades per quarter over the previous four quarters.
3. At least one year of experience working in finance in a role that requires knowledge of leveraged products.

Professional clients can access margins from 0.25% (400:1) on major forex pairs and major indices. Highly active traders may also qualify for volume rebates. These start at £4 per million traded once monthly volume exceeds £25 million and rise to £7.50 per million above £300 million.

The trade-off is reduced protection. Professional clients lose retail safeguards such as negative balance protection and may lose access to the Financial Ombudsman Service in some circumstances.

Institutional and Corporate Accounts

Companies, trusts and other legal entities can apply for a corporate account. StoneX Group also serves institutional clients through its prime brokerage and clearing businesses, but these services operate outside the StoneX Trading brand.

Demo Account

The free demo account comes with £10,000 in virtual funds and lasts 12 weeks. You cannot extend it, but you can open another demo when it expires. It works on Web Trader, the mobile app and MT4, using live market prices.

StoneX Markets & Instruments

Market range is one of StoneX Trading's main strengths after regulation and safety. The Standard account gives you access to more than 13,500 markets.

The share list is extensive, with particularly strong coverage of UK and European stocks. StoneX also offers index options, a feature few UK brokers provide. Buying an option gives you exposure to market volatility with a known maximum loss.

Another useful feature is the choice between spot and futures prices on many indices and commodities. Spot prices suit short-term trading, while futures have no overnight financing charges and can be more suitable for longer holding periods.

StoneX offers extended-hours trading on several indices, including the UK 100, Wall Street and Germany 40. Spreads are wider outside normal exchange hours, but this gives you a chance to react to news released in the evening. Weekend trading is not available.

The main gaps are limited. UK retail clients cannot trade crypto CFDs because of FCA restrictions. StoneX Trading also does not offer real shares or ETFs. All available markets are traded through CFDs or spread bets.

StoneX Execution & Speed

StoneX Trading filled our orders quickly and fairly. As a market maker, it takes the other side of your trades, so we watched for signs of one-sided slippage. Our tests found no such pattern.

StoneX outperformed IG and matched CMC Markets and FOREX.com in our London-session tests. Pepperstone's raw-spread account was still faster. Slippage leaned slightly negative, but remained within the range we typically see at UK market makers. Every order placed outside major news periods filled in under 120 ms.

Execution Around News

We placed 36 of our 300 orders within one minute of major data releases, including two US jobs reports and the September Bank of England decision. Average execution time increased to 118 ms during these periods. Slippage also rose, affecting 31% of news-time orders, with negative slippage slightly more common than positive. This is typical of fast-moving markets. Traders who trade around major announcements may want to consider a guaranteed stop on Web Trader, although it comes at an extra cost.

Opening an Account with StoneX – Step-by-Step

Opening an account took us 11 minutes online, plus a 19-hour wait for approval.

Step 1: Start the Application

Go to the StoneX Trading UK site and click "Open an account". Choose a spread betting account, a CFD account, or both.

Step 2: Enter Your Details

Add your name, address, date of birth, National Insurance number and contact details.

Step 3: Answer the Suitability Questions

StoneX asks about your job, income, savings and trading experience. It also runs a short knowledge test on leverage and margin, as the FCA requires.

Step 4: Verify Your Identity

StoneX often checks you online automatically. If not, upload a passport or driving licence and a recent bank statement or utility bill.

Step 5: Pick Your Platform

Choose Web Trader and TradingView, or request a separate MT4 account.

Step 6: Fund Your Account

Deposit by card (from £100) or bank transfer (no minimum).

Step 7: Start Trading

Log in to Web Trader, the app, TradingView or MT4.

Tip: Try the free demo first. It runs for 12 weeks, so you have time to test both spread betting and CFDs.

StoneX verified our identity automatically using our UK address and bank details, so we did not need to upload documents. One team member who had recently moved house was asked to provide a utility bill, which added about half a day to the process.

StoneX Deposit & Withdrawal

StoneX Trading charges no fees for deposits or withdrawals. However, payment options are limited. PayPal is no longer supported, and the broker does not offer e-wallets.

Our Funding Tests

Withdrawals have a £100 minimum, unless your remaining balance is lower, in which case you can withdraw the full amount. Card deposits must first be returned to the same card, in line with anti-money-laundering rules. You can hold your account in GBP, EUR, USD, CHF or PLN.

If you trade an instrument priced in another currency, StoneX converts your profits, losses and charges into your base currency each day. It calls this process "Back to Base."

Watch out for the inactivity fee. After 12 months without a trade, StoneX charges £12 per month until you trade again or your account balance runs out.

StoneX Leverage

StoneX Trading follows the FCA's retail leverage limits. It does not offer an offshore account with leverage of 500:1 or higher. All retail clients trade under UK rules, regardless of their location.

Leverage by Client Type and Market

Leverage Compared – UK Retail and Highest Available

Retail traders face the same FCA leverage limits across UK-regulated brokers. Higher leverage is available only to clients who qualify for professional status.

What 30:1 Means in Practice

For example, buying one standard lot of EUR/USD at 1.16 gives you a position worth about $116,000. At 30:1 leverage, StoneX requires around $3,870 in margin. A professional client using 400:1 leverage would need only about $290 for the same position. Lower leverage means retail traders need more capital upfront, but it also gives them a larger buffer before a margin call.

Country Availability

StoneX Trading is focused on the UK market. Its website, pricing and support are designed mainly for UK residents. The rebrand made this focus clearer. In 2025, City Index clients in Singapore and Australia moved to FOREX.com, which now serves most traders outside the UK.

If you live outside the UK, including in Pakistan, India, the UAE or Malaysia, contact StoneX before applying. You may be directed to FOREX.com instead. StoneX does not accept clients from sanctioned countries such as Iran, North Korea or Syria.

US residents cannot open StoneX Trading accounts. CFDs and spread betting are not available to US retail traders, so StoneX serves this market through FOREX.com's spot forex and futures accounts.

StoneX Customer Support

StoneX Trading offers 24/5 support through live chat, phone and email. It also has a searchable help center for common questions. Live support is not available on weekends.

The agents were polite and knew the products well. When we asked about tax, the agent gave a careful answer without offering personal tax advice, which was appropriate.

The online help center also answered most basic questions without the need to contact support. Its articles on margin, financing and GSLOs were clear and updated with the new StoneX Trading name.

StoneX Education & Research

StoneX Trading offers strong research tools built directly into its platforms. Its education is also useful for beginners and intermediate traders, although it has fewer daily written lessons than IG.

Research tools we used:

• Reuters news feed: Available inside Web Trader and the mobile app.
• Daily market analysis: Published by StoneX's in-house analysts, including a weekly outlook with charts.
• Research portal: Covers technical and fundamental ideas, with Trading Central tools also available in the app.
• Economic calendar: Includes filters for country and market impact.
• Performance Analytics: Reviews your trading activity and highlights areas for improvement.
• SMS and app alerts: Notify you about price movements and trading ideas.

Education:

The Trading Academy offers beginner and intermediate courses with progress tracking and short quizzes. Topics range from basic concepts such as pips to more advanced subjects such as options strategies. StoneX also provides recorded webinars and videos, including its reality-show-style trading series. Advanced traders may find the material limited, but beginners have a clear learning path.

The in-house research team is a particular strength. Its weekly outlook covers key levels for major forex pairs, indices and gold, with clear explanations behind each market view. We also attended two live webinars during our test. Both started on time, answered questions from viewers and focused on trading topics without pushing account sign-ups.

StoneX Mobile Trading

The StoneX Trading app is one of the stronger broker apps available in the UK. It runs on iOS and Android and includes most of Web Trader's main features.

Charts use TradingView and offer more than 80 indicators. The app also includes watchlists, price alerts, Reuters news, Trading Central ideas and Performance Analytics. You can deposit and withdraw funds or switch between spread betting and CFDs in a few taps. The main limitation is that guaranteed stops are only available on Web Trader.

We placed 40 orders through the app during London hours. Average execution time was 66 ms, close to our desktop result. As of October 2026, the app rated 3.9/5 on the UK App Store and 3.6/5 on Google Play. MT4 users can also trade through the standard MT4 mobile app.

Price alerts arrived within seconds of the target level being reached. Watchlists and chart drawings also synced between the app and Web Trader, allowing us to plan trades on desktop and manage them while away.

StoneX Overnight Funding & Swap Rates

StoneX charges overnight financing on positions without an expiry date. For indices, shares and commodities, the rate is the local benchmark plus 2.5% for long positions or minus 2.5% for short positions. UK markets use SONIA, US markets use SOFR and euro markets use €STR.

Forex positions use the tom-next rate plus a markup. You can find the applicable rates in each market's information sheet.

StoneX's overnight financing costs were relatively high for long EUR/USD and gold positions. Futures-based index and commodity markets have no overnight financing charges, making them worth considering for positions held over several days. Hedged positions still incur financing on both sides. StoneX does not offer swap-free Islamic accounts.

Worked example: You buy the UK 100 at £2 per point, with the index at 9,000. Your position is worth £18,000. If SONIA is 3.75%, your annual financing rate is 6.25%. One night's financing costs £18,000 × 6.25% ÷ 365, or about £3.08. Holding the position for 20 nights adds roughly £62 in financing charges.

StoneX VPS Hosting & Algorithmic Trading

Algo trading at StoneX Trading is available through MT4 only. The platform supports the full MQL4 environment, including Expert Advisors, custom indicators and the strategy tester. StoneX does not restrict scalping, hedging or EA strategies on MT4.

TradingView users can build Pine Script strategies and set alerts, but cannot use them for fully automated live trading through StoneX.

StoneX lists MT4 VPS hosting on its website but does not publish the price or eligibility requirements. Contact support for the current terms before relying on this service. You can also use a third-party VPS in a London data center to connect to StoneX's MT4 servers.

The main limitation is the platform choice. StoneX offers no MT5, cTrader or public retail API, leaving algorithmic traders with fewer tools than they would find at brokers such as Pepperstone or IG.

To test EA stability, we ran a simple moving-average Expert Advisor on our MT4 account for five trading days from a London VPS. It placed 212 trades with no disconnections or rejected orders. Average execution time was 52 ms, in line with our manual MT4 results.

StoneX vs. Competitors – Brokers Comparison

StoneX is less competitive on trading costs but holds its own on market range, safety and tools. IG is its closest competitor. It offers more markets and tighter forex spreads, while providing a similar level of platform choice and client protection.

Not Suitable For

• High-volume forex scalpers who need raw spreads and low commission
• Algo traders who need MT5, cTrader or an API
• Small share traders, because of the £10 minimum commission
• Traders who want PayPal or e-wallet funding
• Traders who need a swap-free Islamic account
• Most traders living outside the UK

Choose StoneX If… / Don't Choose If…

Choose StoneX If:

• You live in the UK and want spread betting and CFDs from one trusted account
• You trade indices and value a fixed 1-point UK 100 spread
• You want guaranteed stops and tools that coach your trading habits
• You like a big, listed parent company behind your broker

Don't Choose StoneX If:

• Your main cost is forex spread and you trade many lots a month
• You want MT5 or cTrader
• You trade small share positions often
• You hold forex trades for weeks and want low swap charges

Final Verdict

StoneX Trading is City Index under a new name, with the same established service behind it. During our 28 days of live testing, orders filled quickly, a bank withdrawal arrived the same day, and the rebrand caused no disruption for clients. Backed by FCA regulation since 2006, a Nasdaq-listed parent company and access to more than 13,500 markets, StoneX remains a well-established choice for UK traders.

The main trade-off is cost. Forex spreads are higher than at most UK rivals, and there is no raw-spread account to bring them down. Index traders and spread bettors get reasonable value, but heavy forex traders may find the costs add up.

We also liked how StoneX handled the rebrand. Clients kept their existing accounts, logins and support, and we found no unexpected changes to fees or margin requirements. A smooth transition like this gives clients confidence that their broker can manage change without disrupting their service.

Choose StoneX Trading for its regulation, market range and platform tools. If keeping trading costs as low as possible is your priority, compare other brokers before opening an account.