Our team opened both demo and live FCA regulated spread betting accounts and tested the apps available. Our testing included two Android Phones (Samsung) and iPhones and factored in the usability, spreads (fees) and features available to find the best spread betting App 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.
We found that the November 2023 best spread betting platforms were:
| 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 CySEC |
1.12 | 1.69 | 1.22 | 0.1 | 0.6 | 0.3 | $3.50 |
|
|
|
77ms | $0 | 62+ | 12+ | 30:1 | 500:1 |
|
|
7.17 |
FCA BaFin |
1.12 | 1.30 | 1.64 | 0.5 | 0.9 | 0.6 | $2.50 |
|
|
|
138ms | $0 | 338+ | 19+ | 30:1 | 500:1 |
|
|
6.67 |
FCA BaFin, CySEC |
1.13 | 1.66 | 1.01 | 0.16 | 0.59 | 0.29 | $6.00 |
|
|
|
174ms | $450 | 100+ | 12+ | 30:1 | 200:1 |
|
|
6.83 |
FCA ASIC, MAS |
0.70 | 1.1 | 2.2 | - | - | - | - |
|
|
|
95ms | $150 | 84+ | 25+ | 30:1 | 500:1 |
|
|
6.4 | FCA | - | - | - | 0.82 | 1.62 | 0.77 | - |
|
|
|
- | £0 | 50+ | - | 30:1 | - |
|
|
7.93 |
FCA BaFin, CySEC |
1.3 | 1.4 | 1.7 | 0.30 | 0.90 | 0.40 | $3.00 |
|
|
|
150ms | $300 | 42+ | 7+ | 30:1 | 500:1 |
|
Pepperstone allows you to spread bet with MT4, MT5 and cTrader apps
Pepperstone is a no-dealing desk broker (NDD) with multiple top-tier liquidity providers giving the best quotes and markets to trade on. Clients can spread bet
on forex markets, stock markets, index funds, commodities, and treasury markets. They also have an education centre with new articles and webinars for new traders or experienced traders willing to learn more about trading markets.
Trading Platforms & Tools
Pepperstone clients have the option of using the popular MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. All these platforms have apps that are compatible with Android or IOS devices.
The key features of the MetaTrader 4 and 5 apps include:
Pepperstone also offers cTrader which is a popular alternative to the MetaTrader trading platforms. Made by Spotware, cTrader in some aspects is a better option than MetaTrader for beginners. This is because cTrader has a cleaner user interface which makes it more intuitive for beginner traders. Choose cTrader if you are looking for depth of the market (which is not available on MT4) and advanced indicators and timeframes.
Pepperstone Accounts
Pepperstone’s spread betting account has similar spreads as their Pepperstone standard account and no commission costs. This means that you can trade the full range of markets with very competitive spreads as low as 0.70 pips for EUR/USD.
The table below displays the average spreads for major European forex pairs. Pepperstone is renowned for the tight spreads that it offers clients, making it one of the best spread betting brokerage apps on the market.
|
Spread Betting Account Spreads
|
|||||
|---|---|---|---|---|---|
|
1.10 | 1.40 | 1.40 | 1.40 | 2.00 |
|
1.13 | 1.12 | 1.66 | 1.71 | 2.27 |
|
0.90 | 1.40 | 1.40 | 1.40 | 1.40 |
|
1.20 | 1.80 | 1.80 | 1.50 | 2.20 |
|
1.20 | 1.50 | 1.60 | 1.50 | 2.80 |
|
1.10 | 1.20 | 1.50 | 1.40 | 1.50 |
|
1.10 | 1.30 | 1.30 | 1.30 | 1.40 |
|
1.20 | 1.10 | 1.30 | 1.20 | 1.20 |
|
1.70 | 1.60 | 2.00 | 1.70 | 2.50 |
|
1.20 | 1.60 | 1.90 | 1.90 | 2.30 |
|
1.30 | 1.50 | 1.40 | 2.10 | 1.70 |
|
1.12 | 1.38 | 1.30 | 0.86 | 1.55 |
|
1.32 | 1.40 | 1.70 | 1.37 | 1.87 |
|
1.20 | 1.20 | 1.30 | 1.50 | 1.70 |
|
1.60 | 1.50 | 1.90 | 1.80 | 2.10 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 01/12/2023
Pepperstone Range Of Spread Betting Markets
Pepperstone offers clients a wide range of products to give you the ability to bet on the right products in different market conditions. If you are looking to diversify your portfolio, then Pepperstone’s range of spread betting instruments gives you the opportunity to protect and hedge against unforeseen events. The full range that Pepperstone offers is listed below:
Pepperstone Conclusion
In conclusion, Pepperstone is one of the best-spread betting apps available for traders to use with competitive spreads, no commission costs, and a wide range of markets to choose from. There is a scope of different trading applications you can choose from, including Pepperstone’s own cTrader app, or the two more popular MT4 & MT5 apps. All of these are available on IOS and Android devices.
View Pepperstone ReviewVisit Pepperstone
OANDA’s app is user-friendly, offering a seamless trading experience that’s perfect for both newbies and seasoned traders. You get real-time access to the markets, advanced charting tools, and a host of other features that make trading a breeze. So, if you’re in the UK and looking for a spread betting app that combines low spreads with top-notch functionality, OANDA is the one for you. Trust me, you won’t be disappointed.
Based on the standard spread data the team gathers each month, OANDA truly stands out when it comes to offering the best spread betting app for UK traders. Let’s talk numbers: OANDA has an average spread of just 0.70 for the top 5 most traded pairs. That’s lower than the industry average of 1.52! When you’re spread betting, every pip counts, and OANDA ensures you’re getting the most bang for your buck.
You can view our beginners spread betting platform page for our full analysis of brokers suitable to those new to trading.
CMC Markets NGEN App Includes Guaranteed Stop Loss Orders
CMC has the best range of markets and low spreads on its innovative next-generation platform. CMC Markets offer clients the choice of over 11,000 financial instruments to spread bet on with an educational centre where professional or beginner traders can learn something.
CMC Platforms
CMC Markets has a platform that has won the Investment Trends best mobile/tablet app award every year from 2013 to 2019 and has been specially built for spread betters. They have an industry-leading charting package that includes features like:
CMC Spreads & Range Of Markets
CMC offers the best range of markets, with over 9500 instruments available. Their spreads start as low as 0.7 pips for major forex pairs like EUR/USD. There is no commission charged, but traders can incur fees for premium order types, overnight-held positions, and inactive accounts for longer than 12 months.
– The fees for having an inactive account are expensive at £10 per month, but when the account is activated again, CMC will refund you up to 3 months (£30 max) back. There is also negative balance protection, as inactive accounts can’t have negative balances.
– The overnight charges are a positive or negative balance depending on the overnight swap rates if the position is held for longer than a day. This is not a massive charge to the position, but is something to be noted.
– Premium order types include guaranteed stop losses (GSLOs) which, for a fee, will guarantee that the order is closed by the client regardless of the pricing at the next open.
CMC Educational Resources
CMC has one of the best educational centres for clients to access to help them become the best-spread bet traders possible. Some of these are listed below:
IG Has Spread Betting For 17,000+ Markets With IG Platform, MT4 and ProRealTime
IG is the online brokerage that invented spread betting back in 1974 and now gives you access to over 17,000 financial markets. Clients will also have access to multiple spread betting platforms that are available on Apple’s IOS for iPhone & iPad and Android devices.
IG Trading Platforms
IG offers a multitude of different platforms that can trade on, but only a few will have access to spread betting. Their own online trading platform and mobile app available for iOS (iPhone & iPad) and Android will allow it as well as the most popular trading platform MetaTrader 4 (MT4). Between these trading platforms, they come with an array of features:
IG Range Of Markets And Costs
IG has the largest range of markets, with over 17,000 different markets including shares, forex, and commodities. IG gives clients the option of hedging their share portfolio with spread betting on the asset that moves in the opposite direction to the shares. There are no commission costs when trading with IG as the costs are already built into the spreads.
IG offers out-of-hours trading on key indices, forex, and key US shares with ‘all session’ trading. Some markets that are tradable on IG are:
City Index Has 3 Spread Betting Apps Including MT4 With Fixed Spreads Available
City Index has one of the best trading platform apps with access to over 8,000+ financial markets for retail investor accounts. They are FCA regulated and follow their rules to hold client funds in segregated accounts with liquidation. The platforms available for spread betting are their web application and mobile application available for free download to IOS devices and Android.
City Index Range Of Markets & Costs
Spread betting on City Index means clients can trade on margin, whereas if they had a share dealing account, then they would have to put forward the full amount of value. City Index offers fixed spreads or variable spreads for the full range of markets. The average spread for the world’s most popular traded forex pair EUR/USD is 0.8 pips with it going as low as 0.5 pips. Some of the minimum spreads for the markets are listed below:
City Index Costs
City Index also has an overnight financing fee that they charge if the spread bet position is left for longer than a day, as this is the cost of borrowing or lending the underlying asset. The charge is 2.5% for both long and short positions. City Index also charges a small fee for guaranteed stop-loss orders upon triggering. This is to save a position if the market falls past a stop-loss out-of-activity hour. There is also an inactivity fee to the account if it is inactive for longer than 1 year of £12 per month.
City Index Platforms
City Index has its own award-winning platform that suits any trader no matter what level of expertise. Their mobile applications have been specifically designed for Android and IOS users, whether on a tablet or phone. Some of the key features that are included in the apps are:
Spreadex Allows Spread Betting For CFDs and Your Favourite Sports
Spreadex is an online brokerage that is mainly used for sports betting and financial spread betting for the last 20 years. A key advantage of this platform is that if the financial services spread betting gets a little uninteresting, then it is easy to try out spread betting in the sports arena. Their online trading platform comes in an application format for iOS and Android devices. Spreadex is regulated by the FCA and Gambling Commission for all of their spread betting to UK residents.
Spreadex Range Of Markets And Costs
Spreadex clients have the option of betting higher or lower than the broker’s spreads, therefore giving them the opportunity to win (or lose) more money. With Spreadex being a multi-purpose platform, its range of markets is unique as it varies from horse racing to Gold. Some of the financial markets are listed below:
Sports Betting
Spreadex Platforms
Spreadex, despite being a multi-industry trading platform, includes some professional trading tools in its mobile apps that can be downloaded for free on Google Play Store and Apple’s App Store. Some of the key features of the app are listed below:
Admirals Is Best For Betting On Shares Since It Has MetaTrader 5
Admirals is a leading choice for MT5 spread betting, catering to UK and Irish clients. Regulated in multiple jurisdictions, including Australia, Europe, and the UK, it offers a variable spread with no commission, making it cost-effective for traders. The platform supports various instruments like Forex, CFDs, cryptocurrencies, and commodities. A minimum deposit of $100 is required, and the platform supports credit card deposits.
Admirals provide three account types: Trade, Zero, and Invest, each with unique features like micro lot trading, hedging, scalping, and automated trading with Expert Advisors. The Trade accounts (Trade.MT4 and Trade.MT5) are particularly appealing to beginners and long-term traders due to their no-commission structure and competitive spreads, like 0.6 pips on EUR/USD, significantly lower than the industry average.
The platform’s volatility protection is a notable feature, offering advanced order settings to manage risk in volatile markets. This includes setting maximum limits for price slippage and protection against price gapping.
Their education resources are extensive, with courses and webinars for all levels, from basic to advanced trading strategies. The “Zero to Hero” program, a 20-day training course, and regular webinars provide valuable insights for enhancing trading skills.
Admirals’ unique approach to spread betting using the MT5 platform offers a leveraged trading option with tax-free profits, appealing to those who prefer MT5 over the more commonly used MT4 for spread betting.
FXCM’s Trading Station App Has Extra Tools To Test Out
FXCM is an FCA-regulated broker that allows spread betting for UK clients. They allow spread betting on either their own Trading station mobile app platform, MetaTrader 4 app (MT4), or Ninja Trader (No app, just web platform). Unlike their CFD trading accounts, spread betting accounts pay no commission, as all costs are counted into the spread. Combined with the tax benefit, this is a key reason many UK residents decide to spread bet instead of trading CFDs.
FXCM Platforms
FXCM clients can access the markets on 2 different mobile trading applications available for both iOS and Android devices. Between the world’s most popular MT4 app and Trading Station app, they provide a variety of distinct features, as listed below:
FXCM Range Of Markets & Risk Management
FXCM has a wide range of markets available for spread betting, including 10 different forex pairs, 7 indices including the S&P 500, 6 commodities, and over 15 stock shares.
Trading and spread betting can come with high risks of losing money or making a profit. If a broker has good risk management tools and features, then this can help make you more money compared to losing it. FCMX has implemented such measures for its clients with the use of stop-losses, pending market orders, and take-profit levels. Using the MT4 application, there is an expert advisor feature that can further help the trader make the right decisions.
*Your capital is at risk ‘67% of retail CFD accounts lose money’
AvaTrade distinguishes itself as a premier choice for iOS spread betting, offering commission-free trading with competitive spreads, such as 0.9 pips for EUR/USD. This market maker is well-regulated across multiple regions, including Europe, the UK, Australia, UAE, and South Africa. Its diverse trading instruments encompass 55 Forex pairs, 26 commodities, 23 indices, and even bonds, catering to a wide range of trading preferences.
AvaTradeGo
The AvaTradeGo mobile app, compatible with iOS and Android, is a standout feature. It serves as a comprehensive tool for managing MetaTrader 4 trading accounts, providing functionalities such as real-time chart analysis, creation of watch lists, live feeds and prices, and unique features like “Market Trends” for community insight and AvaProtect™ for risk management.
Education and Learning
AvaTrade’s commitment to education is evident in its extensive array of learning tools, including a vast selection of educational resources suitable for both beginners and seasoned traders. These include detailed chapters on various trading concepts, a blend of written content, videos, infographics, and webinars covering aspects from basic forex knowledge to advanced trading strategies.
The platform’s approach to risk management is strong, offering features like negative balance protection for all clients and a range of margin call policies. This makes it an excellent platform for traders who are still learning and require a safety net.
A minimum deposit of $100 is required to start trading, with straightforward deposit options available across different regions, including credit/debit card transactions and e-payment solutions like Skrill and Neteller in the UK and Europe.
Customer Support
In terms of customer support, AvaTrade offers a multilingual team available via live chat, webmail, and phone in a wide array of countries, ensuring comprehensive support for its global user base.
Overall, AvaTrade’s iOS app stands out for its user-friendly interface, comprehensive trading and learning tools, and strong regulatory compliance, making it a top choice for spread betting on iOS devices.
When scouting for the best spread betting app in the UK, there are several key factors to keep in mind:
Carefully considering these elements will guide you in selecting a spread betting app that meets your trading requirements and preferences.
Spread betting apps allow traders in the United Kingdom to speculate on market movements easily. After installing and setting up an account, users select markets like stocks or forex. The app shows buy and sell prices, the difference being the ‘spread’. These apps often offer leverage, enhancing trading capacity beyond initial deposits.
Key features include risk management tools like stop-loss orders and real-time monitoring for agile trading. Apps are customisable, providing essential charting tools for analysis. They also support various payment methods and offer demo accounts for practice. Crucially, ensure the app is licensed by authorities like the FCA for secure trading.
Spread betting has a number of factors that make it unique from Forex and CFD trading.
First of all, there is no stamp duty or capital gains tax on profits, which has positive tax implications for spread traders. Secondly, spread betting is off-exchange, meaning the contract exists directly between the broker and the client. The last major difference is that spread betting is flexible given there are no trading hours or fixed trading definitions it has to adhere to.
Since spread betting and CFD trading use the same underlying financial instruments, savvy traders can use the same analysis and trading tools when researching opportunities. For this reason, most CFD or Forex trading platforms and, by extension, trading apps are suitable for spread betting. Because of new FCA regulations, cryptocurrencies may not be traded using spread betting.
Because of Brexit, spread betting is only available in the UK & Northern Ireland as it has been allowed by the UK’s regulatory body FCA (Financial Conduct Authority) to all residents. Other international regulatory bodies do not allow spread betting. All of our recommendations are FCA regulated brokers.
Spread betting apps offer up to 30:1 leverage for UK retail traders. This can increase up to 500:1 for professional spread betters but they must pass a means test to be upgraded to a professional account.
To do a betting spread, first select a market, then decide if you believe its value will increase or decrease, and place your bet based on this prediction. The key lies in understanding the ‘spread’, which is the difference between the buy and sell prices. For in-depth insights and to explore various platforms that offer spread betting, particularly MT4, the best MT4 spread betting brokers page offers valuable information.
No, spread betting is not the same as day trading. Spread betting involves speculating on the price movements of various assets without owning them, while day trading typically involves buying and selling actual financial instruments within the same trading day. Spread betting is often tax-free in the UK, focusing on short-term movements, and can be done in a wide range of markets. For beginners interested in spread betting, the guide to spread betting in UK page provides useful information on starting with this form of trading.
Pepperstone has the tightest average spreads, the best range of trading platforms, and educational facilities for any level trader. With the option of using either their easy-to-use proprietary cTrader app, TradingView app or the most popular MT4 & MT5 apps, it makes for an excellent selection of charting tools and indicators. Pepperstone is an FCA-regulated broker that operates with no dealing desk (NDD) and no commissions providing you with the lowest costs to trade and make tax-free profits. We named it the best UK spread betting platform winner in 2023.
View Pepperstone ReviewVisit Pepperstone
It should be noted this recommendation is based on spread betting trading, not share trading. If you’re looking to actually buy and sell shares, view the Stock Trading App page made by WealthUp. This list focuses on commission-free stockbrokers which are popular for traders with a longer-view approach compared to spread betting.
Note: This is not investment advice and there is an inherent risk warning when trading spread bets and CFDs.
Ask an Expert