In September 2023 the team compared the best spread betting companies in the UK based on fees, trading platforms and range of markets to determine the FCA-regulated best spread betting platform for UK traders.
Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site.
Top 9 UK Spread Betting Platforms
Our list of the best FCA regulated brokers to spread bet with is.
| Broker | Our Rating | Regulation | Standard EUR/USD Spread |
Standard GBP/USD Spread |
Standard AUD/USD Spread |
Raw EUR/USD Spread |
Raw GBP/USD Spread |
Raw AUD/USD Spread |
Commissions (USD Base) |
MetaTrader 4 | MetaTrader 5 | cTrader | Execution Speed | Minimum Deposit | Currency Pairs | Crypto CFDs | Retail Leverage | Prof. Leverage | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
9.33 |
FCA, ASIC CySEC, DFSA |
1.12 | 1.69 | 1.22 | 0.17 | 0.59 | 0.24 | $3.50 |
|
|
|
77ms | $0 | 62+ | 12+ | 30:1 | 500:1 |
|
|
6.83 | ASIC, MAS, FCA | 0.70 | 1.1 | 2.2 | 0.07 | 0.011 | 0.8 | $2.50 |
|
|
|
95ms | $150 | 84+ | 25+ | 30:1 | 500:1 |
|
|
6.67 |
ASIC, FCA, BaFin FINMA, NFA/CFTC, MAS CySEC, DFSA, FMA JFSA, BMA, FSCA |
1.13 | 1.66 | 1.01 | 0.16 | 0.59 | 0.29 | $6.00 |
|
|
|
174ms | $450 | 100+ | 12+ | 30:1 | 200:1 |
|
|
7.93 |
ASIC, FSCA FCA, CIRO BaFin, ISA, CySEC |
1.3 | 1.4 | 1.7 | 0.30 | 0.90 | 0.40 | $3.00 |
|
|
|
150ms | $300 | 42+ | 7+ | 30:1 | 500:1 |
|
|
7.46 |
FCA, FSCA CySEC, SCB, FSCM |
1.32 | 1.7 | 1.95 | 0.32 | 0.37 | 0.51 | $3.50 |
|
|
|
151ms | $0 | 69+ | 30+ | 30:1 | 200:1 |
|
|
7.17 |
ASIC, MAS, FCA CIRO, FMA, BaFin |
1.12 | 1.30 | 1.64 | 0.5 | 0.9 | 0.6 | $2.50 |
|
|
|
138ms | $0 | 338+ | 19+ | 30:1 | 500:1 |
|
|
6.4 | FCA | - | - | - | 0.82 | 1.62 | 0.77 | - |
|
|
|
- | £0 | 50+ | - | 30:1 | - |
|
|
7.67 |
FCA, FSCA ASIC, FSA-S, CySEC |
1.1 | 1.3 | 1.1 | 0.1 | 0.3 | 0.2 | $3.50 |
|
|
|
161ms | $0 | 46+ | 21+ | 30:1 | 500:1 |
|
|
7 |
ASIC, FCA, CySEC FSCA, FSC BVI |
1.6 | 1.6 | 1.9 | - | - | - | - |
|
|
|
150ms | $100 | 54+ | 24+ | 30:1 | 300:1 |
|
There are 26 FCA-regulated brokers licenced to offer spread betting platforms for UK traders. By testing each broker and comparing the spreads, customer service levels, and trading platforms we determined the 2023 best spread betting companies with spread data updated monthly.
Forex Panel Score
Average Spread
EUR/USD = 0.1
GBP/USD = 0.6
AUD/USD = 0.3
Trading Platforms
MT4, MT5, cTrader, TradingView, Capitalise.ai
Minimum Deposit
$0
Why We Recommend Pepperstone
We found a number of compelling reasons to recommend Pepperstone as our best spread betting broker. Chief among these is their lowest spreads and fast execution speeds both features we tested ourselves and proved they lead the market in. Another compelling reason we think highly of Pepperstone is because they offer a choice of 4 trading platforms – MetaTrader 4, MetaTrader 5, cTrader and TradingView so whether you like technical charts for analysis or automation and even social tools, Pepperstone offers options for something for all betting styles.
Pros & Cons
Broker Details
Pepperstone has the lowest fees and fastest execution speeds
We scored Pepperstone as the best 2023 broker after opening accounts with the better-known spreads betting brokers and comparing their fees and features. Our scorecard favoured Pepperstone because of their:
Pepperstone ReviewVisit Pepperstone
Pepperstone Has The Lowest Spreads
We compare average spreads each month of spread betting accounts (commission-free accounts). As most UK traders focus on a handful of currency pairs we focus on major spreads only when making our broker comparison.
The September 2023 spread table below showed that Pepperstone has the lowest spreads on almost all the most traded currency pairs. This included the most traded currency pair (the EUR/USD) and other popular pairings including EUR/GBP, and AUD/USD. Only the top brokers that publish their average spreads and offer spread betting trading were compared.
|
Spread Betting Account Spreads
|
|||||
|---|---|---|---|---|---|
|
1.10 | 1.20 | 1.60 | 1.40 | 1.40 |
|
1.12 | 1.64 | 1.80 | 1.30 | 1.38 |
|
1.32 | 1.95 | 3.19 | 1.70 | 1.40 |
|
1.20 | 1.80 | 2.80 | 1.90 | 1.60 |
|
1.20 | 1.30 | 2.70 | 1.30 | 1.20 |
|
1.40 | 2.50 | 4.90 | 2.10 | 1.60 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 01/09/2023
Pepperstone Has The Fastest Execution Speeds
Our head of research “Ross Collins” opened and then tested the trading accounts over two 26 hours periods using EAs. Of the brokers that offer spread betting, Pepperstone was the fastest with 77ms limit order speed and 100ms market order speed [2]CompareForexBrokers.com execution speed testing based on MT4 platforms. Execution speed matter when spread betting as it ensures your fill an order at the price quoted and to avoid slippage which can lead to unexpected losses (especially when you have a stop-loss order in place).
| Broker | Overall | Limit Order Speed | Limit Order Rank | Market Order Speed | Market Order Rank |
|---|---|---|---|---|---|
| Pepperstone | 1 | 77 | 1 | 100 | 2 |
| FXCM | 2 | 108 | 3 | 123 | 3 |
| City Index | 3 | 95 | 2 | 131 | 4 |
| FP Markets | 4 | 225 | 12 | 96 | 1 |
| IC Markets | 5 | 134 | 5 | 153 | 9 |
| FxPro | 6 | 151 | 9 | 138 | 5 |
| GO Markets | 7 | 144 | 7 | 145 | 7 |
| Admirals | 8 | 132 | 4 | 182 | 18 |
| CMC Markets | 9 | 138 | 6 | 180 | 10 |
| IG | 10 | 174 | 12 | 141 | 6 |
| XM | 11 | 148 | 8 | 184 | 11 |
| ThinkMarkets | 12 | 161 | 11 | 248 | 12 |
The account we measured execution speeds for was the no-commission account with spreads from 0.7 pips. The account has no minimum deposit and the base currency is British Pound (GBP).
When you open an account you have four trading platform options:
Pepperstone was the TradingView broker of the year[1]Voted Best Spread Betting Platform in 2021 by the ADVN International Financial Awards and the first to bring the software to spread betting (previously it was an exclusive CFD platform). The broker also offers advanced features on MetaTrader including:
Final Verdict On Pepperstone
Trading fees and execution speeds are the two most important factors when spread betting. Pepperstone won both categories with the lowest spreads on most currency pairs and the fastest Limit Order and Market Order speeds. Our testing also found that Pepperstone has the best account opening process[3]Account Opening Testing In 2023 and has a £0 minimum deposit requirement. These factors combined with the fact the broker is FCA regulated led to our best UK spread betting platform Pepperstone recommendation.
Forex Panel Score
Average Spread
EUR/USD = 0.07
GBP/USD = 0.011
AUD/USD = 0.8
Trading Platforms
MT4, TradingView, Web Trader
Minimum Deposit
$150
Why We Recommend City Index
While City Index only has spread betting with their in-house developed City Index Trading Platform, we think this gives the broker a point of difference. This platform includes a guaranteed stop-loss order (GSLO) which allows you to manage your risks when taking a punt using the 4,500 available to bet on.
Pros & Cons
Broker Details
City Index Offers A Guaranteed Stop Loss With Tight Spreads
City Index is one of the top UK forex brokers with spread betting on a range of asset classes. The broker has over 4,500 different financial products to bet on. These global markets can be accessed through the broker’s web trader platform or via the trading apps they offer designed for mobile and tablet devices.
Pricing And Fees
When spread betting with City Index, customers can bet on a range of financial instruments that are competitively priced. As with all spread betting in the UK, profits are tax-free and exempt from stamp duty and Capital Gains Tax (CGT).
As shown above, the UK broker offers tight spreads, starting as low as 0.5 pips for major currency pairs. Spreads for the Euro/United States Dollar (EUR/USD) fx pair can be as low as 0.5 pips, with average spreads of 0.8 pips. City Index’s full forex product range consists of 65 different currency pairs, along with a solid selection of indices, shares, commodities, metals, bonds, and interest rates.
Although no commission fees are incurred when spread betting with City Index, traders do face overnight financing fees, inactivity fees for dormant accounts, and premium rates for Guaranteed Stop Loss Orders (GSLOs).
Guaranteed Stop-Loss Orders (GSLOs)
To manage the high risk of spread betting, stop-loss orders and limit orders are available to lock in profits and minimise losses.
Just like free order types, spread betters can pay a premium to place GSLOs. GSLOs ensure positions are closed at the exact price selected by the trader, whereas stop loss and limit orders do not provide guarantees that the pre-selected prices will be matched.
Trading Platforms
City Index’s main trading platform is the City Index Trading Platform (sometimes called WebTrader). We tended to prefer their proprietary online trading platform as it is powered by HTML 5 technology and accessible from any browser. Once feature we really like with the platform is the availability of a guaranteed stop loss order (GSLO) which allows you protect your trading position so you cannot lose more than you are willing to.
Mobile Trading Apps
City Index offers two forex trading apps specifically designed for iOS and Android devices. Many of City Index’s web trader features are available on mobile apps, including different order types such as GSLOs, one-click trading, Reuters news, and custom indicators.
The fully functional and customisable apps provide most of the online platforms charting tools with 60 inbuilt technical indicators and multiple timeframes included. A major benefit to City Index’s trading apps is that traders can easily and instantly contact customer support via the app’s live chat function.
Final Verdict On City Index
We liked City Index’s range of markets you can spread bet across. Their propriety platform has useful features such as charts, technical indicators and a GSLO and these are backed up with competitive spreads to reduce your trading costs. If you really want the most markets to trade, they are worth shortlisting.
Forex Panel Score
Average Spread
EUR/USD = 0.16
GBP/USD = 0.59
AUD/USD = 0.29
Trading Platforms
MT4, IG Trading Platform, L2 Dealer, ProRealTime
Minimum Deposit
$250
Why We Recommend IG Group
As the creator of financial spread betting way back in 1974, we just have to include the IG Group on this list. Spread betting is available via 4 platforms – IG Platform which includes a guaranteed stop loss order (GLSO), MetaTrader 4 (which has Expert Advisors for automation and custom indicators), ProRealTime (good for charting and automation) and L2 Dealer.
We also liked that there are over 17,000 products available to bet on, including 100 Forex pairs and unique financial instruments like interest rates, options, IPOs and thematics.
Pros & Cons
Broker Details
IG Is Ideal For Novice Traders With An Easy To Use Platform
When spread betting with IG Group, customers gain access to a range of CFDs along with a choice of trading platforms. It should be noted that trading CFDs is not purchasing the underlying asset. Rather it focuses on the price movements of that asset.
The broker’s proprietary trading platform for beginners is offered as a desktop or web trader. The beginner trading platform also offers trading apps designed for tablets and mobiles. For those wanting to use a third-party spread betting platform, ProRealTime and MetaTrader 4 are other options.
CFD Product Range
When spread betting with IG Group, customers can gain access to global markets and various asset classes. Available asset classes to spread bet include:
Proprietary Web Platform And Trading Apps
IG Market’s proprietary software for beginners is a user-friendly, customisable platform suitable for all levels of trading experience. The web trader platform can be accessed from any browser, while mobile trading apps are compatible with Android and iOS devices.
An advantage of using IG’s online trading platform is that users can utilise different order types such as Guaranteed Stop Loss Orders (GSLOs) to manage the high risk of spread betting. Platform features available on both the web trader platform and trading apps include:
MetaTrader 4
Many traders prefer MetaTrader 4 due to the platform’s Expert Advisor (EAs) functionality. EAs allow users to automate trading, reducing the time spent conducting analysis and placing orders. In addition to MT4’s inbuilt technical indicators, IG Markets offers an add-on package that provides an additional 12 MT4 add-ons.
Overall, IG Group is the best spread betting broker for beginners based on the provider’s trading platform, customer service, and range of markets. IG Group is the largest retail foreign exchange broker which can be reassuring for those new to spread trading.
IG Markets ReviewVisit IG Markets
Forex Panel Score
Average Spread
EUR/USD = 0.3
GBP/USD = 0.9
AUD/USD = 0.4
Trading Platforms
MT4, TradingView, Trading Station, Capitalise.ai
Minimum Deposit
$300
Why We Recommend FXCM
FXTM spread betting starts from 0.7 points and betting is available via FXCM’s Trading Station as well as 3rd party platforms such as MT4, TradingView and Ninjatrader. We liked that you can bet on shares for the following markets, the US, the UK, the EU and Hong Kong and thought their 3 Forex baskets – The dollar index, The Yen Index and The Emerging Markets were pretty cool.
Pros & Cons
Broker Details
FXCM Platform Is Ideal For Share Spread Betting
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investors 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 money.
FXCM is one of the largest brokers to offer spread betting with a number of strengths. These include:
Spread Betting Accounts With FXCM
FXCM gives you a choice of two trading accounts for spread betting. The first is the retail spread betting account, the second is the active trader account.
FXCM Retail Spread Betting Account
The FXCM retail spread betting account works the same way as the CFD trading account. This means you get the same spreads you would if you were trading CFD financial instruments such as Forex, Shares, Indices, and other products FXCM offers.
FXCM does not charge commissions which means the markup is included as part of the spread. Spreads for the FXCM account are as follows:
|
FXCM Spread Betting: Standard Account, No Commission Spreads
|
|||||
|---|---|---|---|---|---|
|
1.30 | 1.70 | 2.40 | 2.10 | 1.70 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 01/09/2023
Active Trader Account For Spread Betting
If you are after the tightest spreads for spread betting, then you should consider the Active Trader account. Active Traders is only for the serious trader who is prepared to bet in high volumes.
To qualify for an active trader account you will need to bet or trade a monthly notional volume of at least 150 million and maintain equity above $25,000. While spreads are tighter, there are commission costs you will have to pay (which is unusual for a spread betting account).
You will pay $25 in commission when you open and close your bet for every $1 million you bet.
Other benefits of the Active trader account include:
The following table lists the average spreads FXCM offers for Active Traders:
|
FXCM Active Trader: Standard Account, No Commission Spreads
|
|||||
|---|---|---|---|---|---|
|
|
0.30 | 0.40 | 1.10 | 0.70 | 0.80 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 01/09/2023
FXCM Spread Betting Products – Shares, Forex, Trading Baskets
Choosing FXCM means you get a large and diverse range of financial instruments you can use for trading. Products include:
One of the major features is the range of shares FXCM has. Spread betters are not restricted to shares from the US NASDAQ or NYSE like many other brokers offer but shares across multiple markets. This means you can bet not only on popular shares based in the US like Facebook, Zoom, Microsoft, Alphabet (Google), and Tesla but also shares in other markets such as AstraZeneca and BP.
In addition to shares, FXCM also offers trading baskets. Available baskets include forex baskets and stock baskets. Trading baskets are a compilation of common assets grouped to form a kind of index.
There are 3 Forex Baskets available. These are The Dow Jones Dollar Index Basket (US Dollar), The JPY Basket which is called the YES index, and the EM Basket or Emerging Markets Index.
The difference between each index is the number of currencies that make up the index.
The other trading baskets consist of stocks ground by a particular theme. Examples include FAANG which compiles stocks of the 5 biggest I.T. companies on the US Stock exchange and US Automotive (US.AUTO) which consists of 5 of the largest automobile companies on the US stock exchange.
Trading Platforms
FXCM gives you a choice of 3 trading platforms for spread betting. These are Trading Station Web, MetaTrader 4, and Ninja Trader.
Trading Station
Trading Station Web is FXCM’s in-house developed trading platform built following feedback from FXCM clients. The platform was recently updated using HTML5 making it suitable for Windows and Mac browsers and is also available for Android and iOS mobiles.
Features of Trading Station include:
*Your capital is at risk ‘67% of retail CFD accounts lose money’
1As per FXCM’s Spread Report (Q1 2023)
²FXCM can be compensated in several ways, which include but are not limited to adding a mark-up to the spreads it receives from its liquidity providers, adding a mark-up rollover, etc. Commission-based pricing is applicable to Active Trader account types
3Cryptocurrency Products are currently not available to retail clients residing in the UK
4Leverage: Leverage is a double-edged sword and can dramatically amplify your profits. It can also just as dramatically amplify your losses. Trading foreign exchange/CFDs with any level of leverage may not be suitable for all investors.
Forex Panel Score
Average Spread
EUR/USD = 0.32
GBP/USD = 0.37
AUD/USD = 0.51
Trading Platforms
MT4, MT5, cTrader, FxPro Trading Platform
Minimum Deposit
$100
Why We Recommend FxPro
Like all good brokers, FxPro has a range of useful risk management tools to protect your trading positions, these include stop loss, take profits and negative balance protection. Spread betting is only available with the FXPro trading platform which comes with over 50 indicators, 4 pending order types, 15 time frames and sentiment tools for the Forex majors which will prove we don’t doubt you will find most useful
Pros & Cons
Broker Details
FxPro Has Features To Control Market Exposure
FxPro is an FCA-regulated broker that offers a purpose-built proprietary spread betting platform – FxPro Edge.
FxPro Edge users are provided with a professional trading environment with commission-free spread betting available on forex, share, index, energy and metal products. As with all spread betting in the United Kingdom, profits are tax-free and exempt from stamp duty and capital gains tax.
As spread betting involves complex instruments and comes with a high risk of losing money, choosing a broker with strong risk management tools can be useful. FxPro Edge users can place market orders as well as pending orders such as limit, stop-loss and take profit orders.
Although trading tools such as Expert Advisors and customer indicators are not supported by FxPro Edge, the broker is looking to incorporate such features into the trading platform in the near future.
Spread Betting Broker Regulation
FxPro is overseen by financial authorities around the globe, such as CySEC (Cyprus) and the FSCA (South Africa) but only permits spread betting to clients in the United Kingdom. FxPro is regulated by the Financial Conduct Authority (FCA) with the broker licensed to provide trading CFDs and spread betting services to UK residents only.
To protect investors participating in spread betting and trading CFDs, the FCA requires UK brokers to provide negative balance protection and automated close-out margins to ensure traders’ losses are limited. Additionally, segregated client funds ensure trading account balances are protected in the case of a broker becoming insolvent.
CMC Markets ReviewVisit CMC Markets
*Your capital is at risk ‘78.87% of retail CFD accounts lose money’
Forex Panel Score
Average Spread
EUR/USD = 0.5
GBP/USD = 0.9
AUD/USD = 0.6
Trading Platforms
MT4, CMC NGEN
Minimum Deposit
$0
Why We Recommend cmc markets
If you like choices when betting, we recommend you look at CMC Markets. With over 300 Forex pairs to bet on (you read that right), starting from 0.7 points, 90+ indices, 110+ hard and soft commodities and even in excess of 50 treasuries, we are confidence CMC Markets will have the betting instruments you are looking for.
Pros & Cons
Broker Details
CMC Markets Offers The Best Range Of Markets
CMC Markets is an FCA (Financial Conduct Authority, United Kingdom) regulated broker offering spread betting via its proprietary trading platform. The Next Generation platform offers an intuitive, user-friendly trading environment that is available in a standard or advanced format.
A range of trading tools is provided via the platform to assist traders with developing spread betting strategies and managing the high risk of forex trading, such as:
The trading platform is available for desktop download, as a web trader through an Android and iOS app.
Spread Betting Instruments And Fees
As a CMC Markets customer, traders can spread bet on over 9,500 financial instruments from forex, indices, commodity, share, and treasury asset classes.
Although no commission is charged on top of competitive spreads, traders incur fees for overnight financing, premium order types, and inactive trading accounts. Spread betting costs include:
Educational Resources
Along with an award-winning platform and impressive market access, CMC Markets provides an excellent range of educational resources to assist both novice and experienced spread betters.
In addition to webinars, trading platform tutorials, and spread betting guides, customers can contact CMC Markets via phone, email, or live chat 24/5 with any questions they may have about the broker and spread betting.
Forex Panel Score
Average Spread
EUR/USD = N/A
GBP/USD = N/A
AUD/USD = N/A
Trading Platforms
TradingView, SpreadEX Trading Platform
Minimum Deposit
Why We Recommend Spreadex
SpreadEX not only has spread betting with financial instruments like Forex, Gold, Silver and Energies but also has sports spread betting. If you wish to take a punt on your favourite EPL football team winning by 2 goals or more, SpreadEX is a good option.
Pros & Cons
Broker Details
Spreadex Offers Both Types of Spread Betting
Spreadex is a UK broker that specialises in sports and financial spread betting. In conjunction with spread betting on global markets such as forex, stocks and indices, Spreadex customers gain access to the unique feature of spread betting on sporting events.
Rather than the traditional method of fixed-odds betting, Spreadex customers can bet higher or lower than the broker’s spread, the more the price moves, the greater the potential returns.
To place bets on sporting events, traders can use an online trading platform or trading apps designed for mobiles and tablets (Android and iOS).
Sporting events available to spread bet on include:
Forex Panel Score
Average Spread
EUR/USD = 0.1
GBP/USD = 0.3
AUD/USD = 0.2
Trading Platforms
MT4, MT5, ThinkTrader
Minimum Deposit
$0
Why We Recommend ThinkMarkets
ThinkMarkets allows you to spread bet using either the MetaTrader 4 or MetaTrader 5 app. With these apps, you can bet on 4000 instruments including forex, stocks and ETFa. The minimum spread for majors such as EUR/USD, GBP/USD and USD/CHF is 1.1 pips which is decent.
Pros & Cons
Broker Details
ThinkMarkets Has The Easiest To Use Mobile Platform
ThinkMarkets is an FCA-regulated broker that offers spread betting via MetaTrader 4 and MetaTrader 5.
ThinkTrader, the broker’s proprietary web platform and mobile app provides traders with an intuitive spread betting environment for all levels of experience, with a range of charting and risk management tools.
ThinkTrader Mobile Trading App
We evaluated the best apps for spread betting and found the ThinkTrader mobile app, customers can place bets on instruments derived from forex, share, index, metal, and commodity assets.
Purpose-built Android or iOS apps are available to download with the software considered one of the best proprietary mobile trading apps with 4.8 stars on Apple’s App Store.
While many mobile apps are restricted regarding charting tools, ThinkTrader offers an extensive range of technical analysis tools including 10 chart types, 12 timeframes, 40 objects, and 100 technical indicators. Additional built-in mobile app features include:
Forex Panel Score
Average Spread
EUR/USD = 0.6
GBP/USD = 0.6
AUD/USD = 1.8
Trading Platforms
MT4, MT5, Markets.com Trading App
Minimum Deposit
$100
Why We Recommend Markets.com
Pros & Cons
Broker Details
Markets.com Offers A Range Of Software
Markets.com is one of the better brokers that is regulated by the FCA (Financial Conduct Authority) offering a free demo account to spread bet. We analysed spread betting demo accounts and found their MT4 and MT5 offering was good but their proprietary platform (Marketsx) was the best for beginner traders.
Markets.com Platforms
Markets.com has the widest range of platforms that offer spread betting for their UK and Ireland residents. Their own proprietary platform is one of the most advanced platforms that offers over 200 different assets ranging from forex currency pairs to blended stock baskets.
Markets.com Knowledge Center
Markets.com offers one of the best knowledge centres for anyone to enjoy even if you are not a client. Whether you are just starting your trading journey or have been doing it for many years, there is always something new to learn about when trading in the financial markets.
A selection of features Markets.com knowledge centre offers include:
Getting Started With Markets.com Demo Account
For traders unfamiliar with the Markets.com trading platform on their Marketsx or the MetaTrader 4 & 5 platforms, there is a demo account that can be used for 3 months with unlimited virtual money available. If you have not traded the financial markets before then it is recommended to start with a demo account before risking your own personal money. For all UK and Ireland residents, the minimum deposit amount to start trading on a live account is £100.
View Markets.com ReviewVisit Markets.com
*Your capital is at risk ‘70% of retail CFD accounts lose money’
TradingView is one of the newest and most advanced trading platforms and in 2023 Pepperstone was the first to offer the software for Spread Betting. We like Pepperstone because it tested as having the fastest execution speeds and one of the lowest spreads. We like TradingView because it has a superior interface with advanced charting. Combining the advantages of the broker and platform led to our best UK financial spread betting broker recommendation in 2023. You can open a demo account or live account with no minimum deposit requirement backed by award winning customer service.
Pepperstone ReviewVisit Pepperstone
Unlike sports spread betting, financial spread betting involves leverage allowing UK traders to trade on market volatility. Below are the main elements to understand if you’re considering this trading type.
What Is Spread Betting?
Spread betting allows traders in Ireland or the United Kingdom to bet on forex, ETFs, shares or commodities without owning the underlying asset. When traders make a financial spread bet they are speculating if the asset will rise or fall through a spread betting broker. Learn more on our what is spread betting guide.
Financial Spread Betting Vs CFDs
The main difference between trading CFDs and spread betting is related to tax. In the UK (and Ireland) spread betting has no capital gains tax, unlike trading CFDs. The other main difference is that only CFDs use standardised contracts. Only a small number of brokers offer spread betting and must be FCA regulated. Read more on our spread vs CFD comparison guide.
Spread Betting Regulation
All financial spread betting within the United Kingdom should be done through a broker regulated by the FCA. There are other regulators in the EU which meet ESMA requirements such as CySEC, but the FCA is the best suited since spread betting and CFDs are complex instruments. Brokers that only have tier 2 or tier 3 regulations, such as the Financial Supervision Commission (FSC) in Mauritius should be avoided. Not all traders such as those from the United States can trade with the brokers above with the list designed solely for UK residents. We have also provided a separate Ireland spread betting list.
We have provided a comprehensive list of the FCA-regulated spread betting companies below.
| Broker | Trading Name / Status | FCA Number | Address |
|---|---|---|---|
| Pepperstone | Pepperstone Limited | 684312 | 70 Gracechurch Street London EC3V 0HRE |
| CMC Markets | CMC Spreadbet plc | 170627 | 133 Houndsditch London, EC3A 7BX |
| City Index | StoneX Financial Ltd | 446717 | 120 London Wall London, EC2Y 5ET. |
| Capital.com | Capital Com (UK) Ltd | 793714 | 16 Great Queen Street London WC2B 5DG |
| Spreadex | Spreadex Limited | 190941 | 26-30 Upper Marlborough Road Hertfordshire AL1 3UU |
| Markets.com | Finalto Trading Ltd | 607305 | 20 Primrose Street London, EC2A 2EW. |
| IG | IG Markets Limited | 195355 | 25 Dowgate Hill London EC4R 2YA |
| FxPro | FXPRO UK Limited | 509956 | 13-14 Basinghall Street London EC2V 5BQ |
| ActivTrades | ActivTrades PLC | 434413 | 14 Gower's Walk London , E1 8PY |
| Spread Co | Spread Co Limited | 446677 | 22 Bruton Street London W1J 6QE. |
| OvalX (ex-ETX Capital) |
OvalX | 124721 | 26 Finsbury Square London, EC2A 1DS |
| LCG | LCG | 182110 | 80 Cheapside London EC2V 6EE |
| ADSS (ex-ADS Prime) |
ADSS | 577453 | 125 Old Broad Street London, EC2N 1AR |
| Core Spreads | Core Spreads | 525164 | 14 Bonhill Street London EC2A 4BX |
| ATFX | AT Global Markets (UK) Ltd | 760555 | 32 Cornhill Street London EC3V 3SG |
| Admiral Markets | Admiral Markets UK Ltd | 595450 | One Canada Square London, E14 5AB |
| FXCM | Forex Capital Markets Limited | 217689 | 20 Gresham Street London EC2V 7JE |
| ThinkMarkets | TF Global Markets (UK) Limited | 629628 | 70 St Mary Axe London EC3A 8BE |
| Accendo Markets | Accendo Markets Ltd | 475285 | 165 High Street Barnet EN5 5SU |
| AceTop | Acetop Financial Limited | 767154 | 13 St. Swithins Lane, London EC4N 8AL |
| CFI FInancial | CFI UK | 828955 | 16 Berkeley St London W1J 8DZ, UK |
| Bux Markets | BUX Financial Services Limited | 184333 | 35 Luke Street, London, EC2A 4LH |
| TradeNation | Trade Nation | 525164 | 14 Bonhill Street London, EC2A 4BX |
| Spreadco | Spread Co Limited | 446677 | 22 Bruton Street London W1J 6QE |
| Oanda | OANDA Europe Limited | 542574 | 18 St. Swithin's Lane London EC4N 8AD |
| Vantage Markets | Vantage | 590299 | 7 Bell Yard London, WC2A 2JR |
The Financial Conduct Authority (FCA) has strict limitations on financial spread betting. This includes limiting leverage on all retail investor accounts depending on the underlying instrument traded. For trading currency, the maximum leverage is 30:1, and 10:1 for equities. In 2023, the FCA banned trading cryptocurrencies due to the volatility of Bitcoin and similar cryptocurrency types.
Spread betting and CFD trading are similar in the sense that investors are trading leveraged products and speculating on the direction a financial market will move.
The main difference is that when spread betting, a trader is not buying and selling a derivative contract. Rather, traders bet on price movements, deciding on the amount to bet per point of price movement. Spread betters then decide the ‘stake’ per price movement they wish to trade, with profits being made when the market moves in favour of the bet.
View the CFD vs spread betting page to learn more about how the two trading strategies differ.
Brokers primarily make money through the spread between the ‘buy’ and ‘sell’ price. Unlike sports bookies, their fees are the main profit source rather than relying on taking the opposite position of the trader. Therefore, they don’t want to see their clients lose money as they want them to continue trading long-term to maximise the fees from the customer.
Forex Spread Betting Brokers That Offer MT4
Financial Spread betting brokers that offer MT4 are primarily focused on currency trading but indices, ETFs, and commodities can also be traded. As the most popular software platform, most brokers that allow UK traders to make a spread bet also offer MetaTrader 4. This includes Pepperstone, IG, and City Index. The advantages of using MT4 to make a spread bet include the customised indicators and the ability to use scalping (automated trading) through Expert advisors (EAs). These EAs can be created from scratch or purchased through marketplaces to algorithmically make spread bet trades.
Brokers With Low Spread Betting Fees
There are two types of spread betting fees. The first is the spread. This is when there is a difference between the bid/offer spread due to trading volume or deliberately widened by the broker. The second fee is the commission which is based on trading volume. Most brokers offer a standard account with no commission, but this is designed for beginner UK traders with higher fees than the spread + commission account. The lowest spreads were recorded by Pepperstone followed by FxPro, IG, and City Index.
Voted Best Spread Betting Platform in 2021 by the ADVFN International Financial Awards
ADVN awards in 2021 that included Spread betting
Limit Order results based on 2023 testing across MetaTrader 4 trading platforms
Account opening results updated in 2023
TradingView broker awards named Pepperstone the best overall broker
https://www.tradingview.com/broker-awards/
Ask an Expert
Can I do spread betting if I am not in the UK?
The FCA is the only financial oversite that regulated spread betting. For this reason, spread betting is only generally available for traders with an FCA regulated entity
Can i spread bet if I am not in the UK?
If you mean financial spread betting? then no or not really. You can sports spread bet in some countries
Is spread betting the same as sports spread betting?
Yes – you can spread bet using financial instruments or with sports. They are much the same
Is spread betting the same as gambling?
Thats a tricky one to answer….It depends on your definition of gambling but in the UK you spread betting taxes are much the same as gambling and different from CFD trading or investing so you could argue it is.
Can you use leverage when spread betting?
Yes, you can. How much leverage you can use depends on the broker