For UK traders who want to leave a forex account unused without paying a monthly penalty, Pepperstone, IG, Spreadex and Trading 212 are four credible options to compare. Each publishes an explicit no-inactivity-fee policy for its UK-facing service. The distinction matters: OANDA Europe Limited and CMC Markets publish charges for dormant funded trading accounts. A fee-free idle account is not necessarily a free account to trade, hold overnight or reactivate.
The comparison below concerns UK retail access to forex CFDs and, where available, financial spread betting. These are leveraged products rather than services for changing holiday money. Account eligibility, product availability and costs can differ by legal entity. The published fee terms were checked for this comparison in November 2026; confirm the current agreement for the entity that will hold your account before applying.
Risk warning: Forex CFDs and spread bets are leveraged, high-risk products. Losses can occur rapidly and many retail clients lose money. Not paying an inactivity fee does not protect your deposit against market losses, overnight financing or execution costs. Only trade if you understand the product, margin requirements and the risk of losing your capital.
Forex brokers with no inactivity fee: UK comparison
The first four firms qualify for this list because their UK-facing account information expressly says there is no inactivity fee. The final two rows show why a blanket claim that all forex brokers have abolished dormancy fees would be misleading. The distinction between per client and per account charges also affects what multiple trading accounts can cost.
| Broker and relevant UK entity | Inactivity trigger and amount | Balance cap or limit | Reactivation or stopping the charge | Other costs to check |
|---|---|---|---|---|
| Pepperstone Limited FCA 684312 | None. No account-keeping or inactivity charge. An account with less than 10 units of its currency and no trades for at least three months may be archived. | No inactivity debit, so no charge cap. Archiving is an access issue, not a fee. | Request reactivation of an archived account, or add a new live account through the secure client area. | Forex spread; Razor commission; overnight swap; £15 on qualifying international bank-wire withdrawals. |
| IG Markets Ltd (CFDs); IG Index Ltd (spread bets) FCA 195355 / 114059 | None. The UK CFD and spread-betting cost schedules show the inactivity fee as free. | Not applicable; no published monthly inactivity debit in these schedules. | No inactivity-fee refund needed. Separate account access or closure rules should be checked if left unused for a long period. | Forex spreads, overnight funding, currency conversion and optional service charges. |
| Spreadex Ltd FCA 190941 | None. No joining, maintenance or inactivity fee, even without trading for a period. | Not applicable; no inactivity debit. | No fee-driven reactivation process disclosed in the UK account FAQ; ordinary account security checks may still apply. | Forex spread and overnight financing on rolling positions; check market-specific terms. |
| Trading 212 UK Ltd FCA 609146 | None. Its account FAQ expressly excludes inactivity fees. | Not applicable; no inactivity debit. | No inactivity charge to recover; confirm whether a long-unused account needs identity or access checks. | CFD dynamic spread, 0.5% FX fee and overnight interest; the commission line is free. |
| OANDA Europe Limited FCA 542574 | Charges a fee. After 12 months (365 days) without trading, with the clock beginning at first deposit; no fee while a position remains open. Up to £20 monthly per client. | Debits are limited by available balances across sub-accounts; they do not make a sub-account negative. | Trading again stops further charges. After resuming, a rebate for up to three months can be requested, not assumed. | Forex spread, financing and product or account-specific charges. |
| CMC Markets UK plc (CFDs); CMC Spreadbet plc (spread bets) | Charges a fee. No open positions and no trades for one continuous year: £10 monthly, or equivalent, per dormant account with funds. | Charges stop at zero and do not create a negative balance. | Trading, closure or a zero balance ends further deductions; trading again triggers a refund of up to £30 for the preceding three months. | Forex spread, overnight holding and any optional services or market-data subscriptions. |
Interpret the cap carefully: a broker that charges no inactivity fee has no inactivity debit to cap. By contrast, OANDA's £20 maximum is across the client relationship, whereas CMC's £10 charge is described for each dormant account. A low balance limits the money that can be deducted under the stated policies; it does not make an account fee-free.
Which no-inactivity-fee broker is most practical?
Pepperstone: clear policy, but small inactive accounts can be archived
Pepperstone is the clearest starting point for traders who use MetaTrader, cTrader or other supported trading platforms and may take long breaks between forex trades. Pepperstone's UK costs schedule explicitly excludes account-keeping and inactivity fees. That is a stronger basis for selection than a generic claim about low trading costs.
The catch is operational. Pepperstone can archive an account holding less than 10 units of the account currency after three or more months without a trade. It describes reactivation on request, or the option to add a new account in the client area. Archiving is not the same as losing money to a monthly inactivity fee, but traders who keep a tiny balance and expect immediate access should plan for it.
Standard forex CFD accounts generally price trades through the spread. Razor pricing adds a commission, with the UK page quoting commission from £2.25 per lot per side on relevant forex CFDs, depending on the platform and account. Overnight swaps also matter. The UK schedule notes a £15 charge when withdrawing by international bank wire to an overseas bank account. A trader who never trades may pay no inactivity charge; a trader who executes and withdraws funds still needs the full cost schedule.
IG: no inactivity charge across UK forex CFD and spread-bet schedules
IG is particularly relevant when the choice includes both forex CFDs and UK financial spread bets. The contracting firm changes with the product: IG Markets Ltd provides the CFD account, while IG Index Ltd provides spread betting. IG identifies both entities in its UK regulatory disclosures. The UK charges schedule shows the inactivity fee as free in its CFD and spread-betting sections.
The trade-off is that leaving an account idle and actually holding a position are very different cost scenarios. Forex dealing spreads can widen, leveraged positions held overnight attract financing and an optional guaranteed stop can have its own premium. Currency conversion charges may apply. IG's UK pages display different numerical FX conversion rates in some documents, so the order ticket and current product-specific fee schedule should settle the figure for a particular trade rather than a single rate being treated as universal.
IG makes sense for traders who want a broad UK trading service without a routine dormancy deduction. It is less compelling to choose it solely on inactivity fees if another firm offers a materially lower all-in cost for the trader's actual position size and holding period.
Spreadex: straightforward fee policy for occasional spread bettors
Spreadex's financial trading FAQ is unusually direct: there is no account-opening, maintenance or inactivity charge even when the client does not trade for a while. The relevant UK entity is Spreadex Ltd, FCA register number 190941. It offers forex exposure through financial spread betting and CFDs, not ownership or physical delivery of the underlying currencies.
The main advantage for an infrequent trader is the absence of a predictable monthly deduction for taking a break. But the position cost is not necessarily limited to its quoted entry spread. Rolling spot forex bets can have overnight financing adjustments at the applicable funding time. The Spreadex trading glossary explains that spot FX positions held through funding time can receive a financing adjustment.
This is a sensible option to investigate for a UK trader who prefers spread betting and values a simple idle-account policy. Compare live spreads and funding rates for the exact currency pairs traded, rather than assuming every spread-bet transaction costs the same as a forex CFD at another firm.
Trading 212: no dormancy debit, with a separate CFD cost structure
Trading 212 UK Ltd, FCA 609146, is the entity associated with UK resident accounts under its country-to-entity list. Its inactivity-fee FAQ confirms that Trading 212 accounts do not carry an inactivity fee. That policy is useful for someone who plans occasional trading rather than continuous use.
For forex speculation, compare the CFD product, not the headline charges for a share-dealing Invest account. The CFD fee schedule lists free trading commission but a 0.5% FX fee, variable dealing spreads and overnight interest that can be a debit or credit. It directs clients to each instrument's details in the app for the applicable costs.
Trading 212 is a viable no-inactivity-fee candidate for someone comfortable with an app-led CFD experience. It should not be labelled a zero-cost forex broker: account inactivity and trade execution are separate questions.
Why OANDA and CMC Markets do not qualify
OANDA Europe Limited: the UK inactivity-fee policy defines inactivity from the first deposit and, later, from the latest qualifying trade. After 365 days without active or open trades, up to £20 per client per month can be taken across sub-accounts. The charge is made on the third-to-last weekday of the month, starting with the smallest funded sub-account. An open position prevents this particular inactivity charge, but open trades can incur market and financing costs. Recommencing trading allows a request for up to three months of rebates; it is not an automatic refund of every earlier charge.
CMC Markets: the UK charges FAQ describes a £10 monthly deduction per dormant account after a continuous year without trading activity or an open position. A funded account is charged in the first two UK working days of the month, generally, until it is traded, closed or depleted. It cannot go negative from this charge. Trading again results in a refund covering up to the preceding three charged months, capped at £30. The entity and account terms should be checked for a CFD versus a spread-betting account.
Both firms may suit traders for reasons unrelated to dormancy pricing. Neither belongs on a strict list of brokers with no inactivity fee under the UK terms above. OANDA's UK fee should also not be confused with the different denomination and rates found for its other European divisions.
How much could a dormant forex account cost?
Consider a hypothetical UK trader who leaves £100 in an account, has no open trades, and becomes eligible for a monthly fee under the applicable broker's rules. If that account then incurs three full monthly charges, the calculation is:
- One of the four no-fee candidates: £0 in inactivity charges. This does not establish that the account will remain active or accessible indefinitely, or that other charges are impossible.
- OANDA Europe Limited: up to £20 per client per month, so up to £60 over three chargeable months if sufficient funds remain. A smaller aggregate balance limits the actual debit.
- CMC Markets: £10 per dormant account per month, giving £30 over three chargeable months for one sufficiently funded account.
The example begins after the relevant inactivity trigger and assumes the terms remain unchanged. It does not imply that charges start immediately when trading stops. At CMC, a qualifying return to trading can refund those three months under the stated conditions; at OANDA, the trader must request a rebate and eligibility is limited. Neither example includes trading loss, financing, bank costs or conversion charges.
How to choose an account if you trade infrequently
- Identify the exact legal entity. Check the name in the application, client agreement and regulator entry. A brand can use different firms, fee schedules and products in different countries.
- Separate inactivity from archiving. Ask whether the account can be archived, closed, restricted or subject to fresh identity checks without incurring an inactivity charge. Pepperstone's small-balance rule is a concrete example.
- Read the trigger and scope. For a charging broker, determine whether the clock starts at deposit or last trade, whether an open position suspends the fee, and whether the deduction is per client or per sub-account.
- Check the balance floor and recovery terms. Determine whether a deduction can exhaust available cash, whether a dormant account can go negative, and whether resuming trading leads to an automatic or requested rebate.
- Price the trade you will actually make. Compare the forex spread, commission per lot, overnight financing, currency conversion, platform or data charges and withdrawal route. An occasional trader may save more through execution costs than through a headline account fee.
Practical verdict: Pepperstone provides a clear no-fee policy with a specific archiving caveat; IG offers a no-fee answer across two distinct UK derivatives products; Spreadex stands out for an uncomplicated UK spread-betting inactivity policy; and Trading 212 excludes the fee while retaining CFD spreads, FX charges and financing. These are defensible choices for the narrow question of account inactivity, not a claim that their total trading costs are identical or that one provider is best for everyone.
Fee-policy review: November 2026. Policies, entity assignments and charges can change. Confirm the applicable legal agreement and current order-ticket costs before funding an account. This comparison is informational and is not individual investment advice.
FAQs
Which UK forex brokers have no inactivity fee?
Pepperstone Limited, IG Markets Ltd and IG Index Ltd, Spreadex Ltd, and Trading 212 UK Ltd currently publish no-inactivity-fee policies for the UK account or product described here. They can still apply dealing spreads, overnight charges and other product-specific costs. Check which entity and account the application actually creates.
Can a no-inactivity-fee forex account still be closed or archived?
Yes. Pepperstone may archive a trading account after at least three months without trades if it holds less than ten units of the account currency. Archived accounts can be reactivated on request. An administrative restriction is different from a monthly fee deducted from cash.
Does OANDA charge an inactivity fee in the UK?
OANDA Europe Limited lists a monthly inactivity charge of up to £20 per client after 365 days with no active or open trades, starting the clock from the first deposit. It cannot make a sub-account balance negative, and eligible clients who resume trading may request a rebate for up to three charged months.
How much is CMC Markets’ inactivity fee?
CMC Markets’ UK trading charges FAQ lists £10, or the equivalent in the account currency, per dormant funded account each month after a continuous year without open positions or trades. The debit cannot take the balance below zero, and resuming trading can trigger a refund of up to £30 for three prior months.
Does holding a position stop inactivity fees?
It can under policies that explicitly treat an open position as activity, including those described for OANDA Europe and CMC Markets. However, holding a leveraged forex position overnight can incur financing or swap charges and market losses, so opening or keeping a trade just to avoid dormancy is not a free workaround.
Is no inactivity fee the same as zero trading fees?
No. A firm may waive charges for leaving the account idle and still charge spreads, commissions, overnight swaps, FX conversion or withdrawal fees. Trading 212, for example, lists no inactivity charge but includes a 0.5% FX fee and variable spreads in its CFD cost schedule.
Does withdrawing all money prevent an inactivity fee?
OANDA Europe and CMC Markets say their inactivity deductions cannot create a negative balance and end when the account balance reaches zero. That does not guarantee every other account or withdrawal charge disappears, and the operational treatment of a zero-balance account may vary.
Can a broker refund fees once trading resumes?
The refund rule is broker-specific. CMC Markets describes a refund of up to £30 for the previous three months once trading resumes. OANDA Europe says a resumed trader can request up to three months of inactivity-fee rebates, so recovery is conditional rather than guaranteed for every month charged.
Jake Robins
Jake Robins is a Forex and cryptocurrency education contributor with over 10 years of experience helping readers better understand the financial markets. His work covers risk management, technical analysis, trading psychology, broker platforms, and scam awareness. Through clear, practical guidance, Jake helps traders approach the markets with greater discipline, caution, and confidence.
