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Savvy Britons use spread betting to speculate on market movements and profit from falling and rising markets. The best part is many are raking in juicy, tax-free returns. Would you like to enjoy the same fate? First, find all the educational materials you can and learn the essentials of spread betting. Then, look for reputable and trustworthy spread betting brokers.
Admittedly, finding an excellent broker can be taxing since innumerable service providers are available today. But that’s where we come in. Our experts have saved you from that mountainous task by vetting and comparing available companies. Using our findings and experiences, we’ve selected and reviewed the best UK spread betting brokers in this comprehensive guide.
List of the Best Spread Betting Brokers
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Risk Warning64% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
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2
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Risk Warning86% of retail investor accounts lose money when trading on margin with this provider. You should consider whether you understand how margin trading works and whether you can afford to take the high risk of losing your money.
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Risk Warning65% of retail investors lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
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Risk Warning
74% of retail investor accounts 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 your money.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with Axi. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
In This Guide
UK Spread Betting Brokers: Comparison Table
Not all financial brokers offer spread betting in the UK, but a considerable number of outstanding entities do. We couldn’t include all spread betting service providers in our guide, so here’s what we did. Our experts vetted available brands based on numerous aspects, including regulatory status, supported assets, and fees and commissions. Then, based on our findings, we picked 4 that deserve to be ranked as the best UK spread betting brokers.
Not to forget, while identifying platforms that deserved to be on our list, we factored in online ratings and past user testimonials. Our team sourced them from the App Store, Google Play, and Trustpilot. We always do that before picking and reviewing service providers since we aim to provide unbiased information.
You can start searching for a fitting service provider with the first comparison table. It covers the first set of factors we considered while comparing and selecting the best companies.
| Best Spread Betting Broker | Licence & Regulation | Support Service | Software | Payment Method | Demo Account |
|---|---|---|---|---|---|
| Capital.com | FCA, SCB, ASIC, CySEC, SCA | 24/7 | TradingView, MT4, Web platform, Mobile app | Bank transfer, bank cards, Apple Pay, TrueLayer | Yes |
| Pepperstone | FCA, MAS, ASIC, FSCA, DFSA, CySEC, CMA, SCB, BaFin | 24/5 | TradingView, MT4, MT5, cTrader, Pepperstone Trading Platform, Social trading | Visa, Mastercard, Bank transfer, Neteller, Skrill, PayPal | Yes |
| Spreadex | FCA, FMA | 24/5 | Online platform, Mobile trading, Charting package, TradingView | Credit/debit cards, Apple Pay, Bank transfer | No |
| FxPro | FMA, FCA, FSCA, SCB | 24/5 | FxPro Mobile App, MT4, MT5, cTrader, FxPro WebTrader | Credit/debit cards, Bank wire transfers, Neteller, Skrill, PayPal | Yes |
Brokers Short Overview
We could analyse available service providers without considering fees and assets. After all, interacting with a broker that charges exorbitant fees is the surest route to cutting your profit margins. On the other hand, picking a platform with the wrong assets will only cause disappointment and unnecessary headaches down the line.
The best spread betting brokers UK have the following fees and assets:
Fees
| Spread Betting Broker | Minimum Deposit Requirement | Commission/ Spreads | Deposits/ Withdrawals | Inactivity Fee |
|---|---|---|---|---|
| Capital.com | £20 | From 0.0006 pips | Free | £10 per month after 12 months of inactivity |
| Pepperstone | £0 | From 0.0 pips | Free | £0 |
| Spreadex | £0 | 0.6 pts | Free | £0 |
| FxPro | £100 | From £3.50 per lot | Free | £10 monthly |
Assets
| Spread Betting Broker | Stocks | Forex | Crypto | Commodities | Indices | ETFs | Options |
|---|---|---|---|---|---|---|---|
| Capital.com | Yes | Yes | No | Yes | Yes | Yes | No |
| Pepperstone | Yes | Yes | Yes | Yes | Yes | Yes | No |
| Spreadex | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| FxPro | Yes | Yes | Yes | Yes | Yes | Yes | No |
Our Expert’s Opinion about the Best Spread Betting Brokers
Every spread betting broker listed here deserves to be ranked among the best service providers in the UK. Why? For starters, they all obey FCA mandates designed to protect investors like yourself. Moreover, as you’re to find out, each of these brokers has several unique perks and upsides. Read through each of our mini-reviews and compare the companies listed here before picking the most suitable option.
1. Capital.com – Beginner-Friendly Option
We found Capital.com to be one of the best spread betting brokers in the UK, especially for newbies. Its platform feels intuitive right from the first login, with a clean design that makes navigating markets much less intimidating. You can spread bet on more than 2,900 instruments, including forex, shares, indices, and commodities. For spread bettors who want more advanced options later, Capital.com also connects with MT4 and TradingView platforms, known for hosting advanced features.
What makes this broker particularly beginner-friendly is the combination of low costs and strong learning resources. Spreads start from just 0.0 pips, and there are no commissions on trades. On top of that, it has a low minimum deposit requirement of only £20. This means new traders don’t need to commit large sums to get started. We also appreciate its vast learning resources, including an Investmate app that is perfect for building confidence step by step.
Risk-management tools are also front and centre, with features like price alerts and trailing stops designed to help protect against losses. On top of that, the broker has one of the best support service teams. They operate 24/7 via phone, email, and live chat.
Capital.com
✔FCA-regulated
✔24/7 customer support
Pros & Cons
Fees
Trading Assets
Pros
- An easy-to-use trading platform with a modern design
- Low minimum deposit requirement of £20
- Spreads from 0.0 pips, with commission-free trades
- Hosts an excellent selection of learning materials with a comprehensive FAQ page
- Access to 2,900+ spread betting instruments
Cons
- No copy trading available
- Some advanced tools may overwhelm absolute beginners
| Type | Fee |
|---|---|
| Minimum Deposit | £20 |
| Commission/Spreads | Free commissions, with Capital.com spreads from 0.0006 pips |
| Overnight Funding | Yes, except for the 1X account |
| Currency Conversions | £0 |
| Guaranteed Stop-Loss Orders | Yes |
| Inactivity | £10 per month after 12 months of inactivity |
| Deposits and Withdrawals | £0 |
2. Pepperstone – Overall Best Spread Betting Broker UK
After evaluating and comparing many brands, we consider Pepperstone the overall best spread betting broker UK. Founded in 2010, this platform allows users to bet on the spreads of various instruments, from stocks and commodities to indices and currency pairs. The best part is that beginners can start with a free demo account and practice before risking their money.
We also discovered that Pepperstone allows spread bettors to use numerous outstanding trading platforms, including TradingView, cTrader, MT4, and MT5. These industry-leading solutions have desirable features like advanced charting tools and diverse order types.
Pepperstone is also a fantastic spread betting platform that supports automated trading through custom EAs, fast order execution, and low latency.
Pepperstone
✔24/7 customer support
✔No inactivity fees
Pros & Cons
Fees
Trading Assets
Pros
- Offers exceptional trading platforms, including MT4, MT5, and TradingView
- Responsive, knowledgeable customer support team
- Intuitive, user-friendly web interface
- No minimum deposit requirement
- Spread bettors can diversify with CFDs on currencies, commodities, indices, and more
Cons
- Supports CFD trading and spread betting exclusively
- Limited spread betting educational resources
After evaluating Pepperstone, we opened a trading account for conducting extensive tests. The process was quick and easy.
But what impressed us most was the Pepperstone minimum deposit requirement. This platform has no minimum deposit, which makes it ideal for low-budget and high-budget traders. If you are a beginner, joining this broker is advisable since you can start with a low amount and increase your stakes with time. To top it off, Pepperstone supports free deposits and withdrawals. This broker allows you to use diverse payment methods for free, from Visa debit and credit cards to PayPal and domestic bank transfers.
When it comes to spreads and commissions, Pepperstone is very cost-friendly. You can open a Razor account with this broker and enjoy 20 commission-free trades. Pepperstone’s Standard accounts also have zero commissions. On the other hand, spreads start from as low as 0.0 pips for forex pairs like EUR/USD and 0.5 for commodities like XAUUSD.
Finally, unlike most of its peers, Pepperstone charges zero inactivity fees. However, any positions you hold overnight with this platform are subject to swap rates. Visit Pepperstone’s pricing page for a detailed account of how this broker calculated swap rates for different financial instruments.
3. Spreadex – Best Spread Betting Broker for Risk Management
Spreadex is a fantastic platform that gives users unmatched access to 10,000+ global markets. Due to its outstanding services and qualities, Spreadex bagged the City of London Wealth Management Awards (COLWMA) Best Spread Betting Provider 2024. It was also recognised as the Best Spread Betting Platform at the 2024 ADVFN International Finance Awards.
One reason Spreadex is considered one of the best spread betting brokers UK is risk management. This broker acknowledges that proper risk management goes hand in hand with successful trading and gives its customers access to various indispensable tools. These include Guarantee Stop Loss, a premium solution that minimises losses by closing traders once they reach specified prices.
Other effective risk management tools you can leverage while spread betting with Spreadex include trailing stop orders and limit orders. We also urge you to check out this platform since it offers competitive margin rates as well as sought-after trading platforms like TradingView.
Spreadex
✔10,000+ financial instruments
✔Zero account inactivity fees
Pros & Cons
Fees
Trading Assets
Pros
- No minimum deposit requirement
- TradingView is available
- No account inactivity fees
- Free deposit and withdrawals
- Top-notch risk management tools
Cons
- Limited third-party trading software
- £50 minimum withdrawal requirement
We analyzed Spreadex’s fees and commissions since these elements can impact a trader’s profitability. The first impressive aspect that caught our attention is this broker’s £0 minimum deposit requirement. You can deposit any amount into your Spreadex account and start trading almost instantly. Furthermore, the broker charges zero account maintenance and inactivity fees.
What’s more, Spreadex has tight spreads and commissions. While trading with this broker, you can enjoy low spreads starting from 0.9 pips for GBP/USD, 0.001 pips for USD/INR, and 0.6 pips for EUR/USD. However, note that this broker charges overnight financing fees for positions held overnight.
4. FxPro – Best Spread Betting Broker for Competitive Spreads
Competitive spreads increase your profit potential and enhance your overall trading experience. With that in mind, FxPro offers some of the juiciest spreads today. For instance, you can enjoy digits as low as 0.6 pips while interacting with popular pairs like EUR/USD. To make things even better, this broker allows spread bettors to trade 5 asset classes and increase potential profits with flexible leverages of up to 1:30.
Furthermore, we advise you to consider spread betting with FxPro since this platform has a wide range of outstanding trading software. That includes MT4, MT5, FxPro Mobile App, and cTrader. Additionally, with a FxPro account, you can mitigate risk exposure by trading CFDs on a wide range of assets, including FX pairs, stocks, and commodities.
If you are a seasoned trader, FxPro allows you to open a VIP account and enjoy premium perks like reduced commission on cTrader and up to 30% market spread discounts. VIP clients also get free access to FxPro’s VPS, which allows users to run cBots and EAs 24/5.
FxPro
✔User-friendly platform
✔Low minimum deposit requirement for UK clients
Pros & Cons
Fees
Trading Assets
Pros
- A wide variety of trading platforms is hosted here, including cTrader and MT5
- Free deposits and withdrawals
- Premium conditions like discounted market spreads for VIP account holders
- Reasonable leverages for maximising returns
- Excellent customer support
Cons
- £10 monthly inactivity fee
- Fewer financial instruments than other leading platforms
From our broker analysis and comparisons, we find FxPro to be one of the most affordable brokers for Ul clients. For starters, this broker has a free account opening procedure that takes minutes to complete. Moreover, it has a £1000 minimum deposit requirement, though you can deposit as little as £100. And when it comes to transaction costs, FxPro doesn’t impose any. We believe this makes it suitable for newbies who are sceptical about spending a lot of money and low-budget traders.
When it comes to trading charges, FxPro imposes low fees compared to other brokerage firms. For instance, forex trading attracts low fees, starting from 0.0 pips on major currency pairs. However, expect to incur additional costs for positions left overnight. There is also an inactivity fee of £10 monthly should your account remain dormant for over six months.
Spread Betting in the UK
Spread betting is categorised as a legitimate form of financial trading and is, therefore, legal in the UK. But, any Briton who wishes to bet on financial spreads must be at least 18. They must also trade with an FCA-regulated service provider. The FCA is the highest regulatory authority in the UK. It monitors spread betting brokers and ensures consumers are protected through uncompromised integrity and adherence to strict standards like account segregation.
That said, spread betting is a promising venture since it guarantees tax-free returns. Simply put, the profits you earn from spread betting in the UK are exempt from Stamp Duty and Capital Gains Tax. However, note that your proceeds may be subject to taxation if spread betting is your primary source of income.
What is a Spread Betting Broker?
Spread betting brokers allow you to trade different markets with trades structured like bets. In other words, as a spread bettor, your ventures are more similar to gambling than investing. You just bet on the price movements of different assets. A spread betting broker is a service provider that ensures you have access to the right platform.
Generally, spread betting brokers provide optimised trading platforms, allow you to access diverse markets, and offer leverage you can use to increase potential profits while using minimal capital.
How to Choose a Spread Betting Broker in the UK
Hundreds of thousands of UK residents have shown significant interest in online trading. This trend has encouraged countless spread betting brokers to try their luck in the UK. Unfortunately, it has already attracted a swarm of malevolent entities who want to steal your funds and personal data. But don’t get cold feet. You can avoid unscrupulous actors and identify the best spread betting brokers UK by focusing on the following:
Security
Spreads
Fees
Platforms
Track Record
Customer Support
The first definition of a secure spread betting broker is a service provider authorised and regulated by the FCA. Avoid unregulated entities since they don’t comply with measures and standards designed to protect your funds and data. For instance, some don’t segregate client funds or encrypt personal data, as the FCA requires.
Spreads can inflate your trading costs and undermine profit margins. To avoid that scenario, check every broker’s spreads and compare them with other service providers. Finally, pick a service provider with reasonable spreads guaranteed to lower expenses and boost potential profits.
Like spreads, fees can impact your overall profitability as a spread bettor. Subsequently, you must evaluate every service provider’s fee structure before making any moves. Try to identify everything substantial, from transaction charges to inactivity fees. Note that some platforms have hidden fees; be vigilant and contact customer support immediately if you see something ambiguous.
Some spread betting brokers exclusively offer proprietary platforms, while others host third-party software like MetaTrader 4 and 5. The key to avoiding disappointment in the future is evaluating each broker’s trading platforms and picking a brand that meets your expectations.
The best UK spread betting brokers have excellent track records and are proud of it. You’ll find them interacting with users and responding to negative and positive feedback on Google Play, Trustpilot, the App Store, etc. On the other hand, questionable service providers often have scathing testimonials and don’t even bother to respond to online reviews and complaints.
Access to good customer support is indispensable in optimizing your overall spread betting experience. Before opening a new account with any broker, check customer support. Verify availability and responsiveness by sending queries via the provided support channels. Avoid spread betting brokers with poor support services to avoid delayed issue resolution and further complications.
How to Sign up for an Account with Spread Betting Broker UK
You may have heard of people facing insurmountable challenges while opening spread betting accounts in the UK. Yes, the process can be complicated, but not where the best brokers are involved. Outstanding service providers like the ones recommended here have made signing up as easy as pie. You just have to do the following:
Step 1: Visit your chosen broker’s official site
Step 2: Open your spread betting account
Step 3: Complete verification
Step 4: Make a deposit
Step 5: Start betting on spreads
Go to your preferred service provider’s official site and browse around. Examine what is offered, including the fee structure, spreads, and trading software. Check if the broker also provides optimised mobile trading apps.
Open your spread betting account by clicking Join Now, Sign Up, Trade with Us, etc. The button should be easy to identify. If you are a novice, choose demo mode and practice first. Then, submit the information needed to apply for a live account, including your official name, residential address, and employment details. Read the terms and conditions before submitting your application.
Regulated brokers verify the identity and location of new signees manually. And that calls for specific documents, including national ID/ driver’s license and utility bill/recent bank statements. Check what your chosen broker needs to approve your application and upload everything. The documents you share should contain the same information you submitted in step 2.
Allow your broker to verify your account, then fund it. If there are applicable minimum deposit requirements, obey them. If not, deposit whatever you feel is right, provided you don’t overspend or compromise your budget.
Extensively research available markets and look for potentially profitable spread betting opportunities. Then, either go long or short. But remember that things won’t always go your way. To avoid losing most, if not all, of your capital, be cautious while sizing your stake and implement risk management tools like stop-loss orders.
Discover the best UK gold trading brokers in our other article.
FAQs
What risk management features are available?
Most platforms offer tools like stop-loss, trailing stop, guaranteed stop, and limit orders to help manage exposure. These features can cap potential losses or lock in profits automatically based on price movements.
What happens if my broker goes bust?
In the UK, regulated brokers fall under the Financial Services Compensation Scheme (FSCS). This means clients may be eligible for up to £85,000 in compensation if the broker becomes insolvent. Always confirm FCA authorisation and check asset segregation policies.
Spread betting vs. spread trading on sports – what’s the difference?
Financial spread betting involves speculating on market prices (e.g. FTSE 100, gold, forex), while sports spread betting relates to outcomes in events like football matches. The former is FCA-regulated; the latter is overseen by the Gambling Commission and treated as betting, not investing.
What platform offers the lowest spreads?
IG, CMC Markets, and Pepperstone are known for tight spreads on major markets. However, the lowest spreads often come with commission-based accounts or vary by market conditions, so check full fee structures before choosing.
Will spread betting firms shut down profitable accounts?
Reputable, FCA-regulated firms typically do not close accounts just for being profitable. However, if they detect abusive practices, arbitrage, or violations of terms, restrictions may be imposed. Always trade within platform rules.
Why do so many people fail at spread betting?
Many traders underestimate the risks, overuse leverage, or trade without a solid strategy. Emotional decisions, poor risk management, and chasing losses can quickly erode capital. Education, discipline, and planning are key to long-term success.
Conclusion
Picking the best spread betting broker UK is just a nudge towards success. The fact remains that spread betting is risky and can lead to significant financial losses. To be safer, you must gauge your risk tolerance, prepare a clear budget, and develop effective risk management strategies. Most importantly, come to terms with the fact that you will win some and lose some. When you lose, don’t be devastated or try to chase your losses. Take a breather, check where you went wrong, and grow from your mistakes.
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For beginners, I’d recommend using a demo account and taking advantage of educational tools like those from AvaTrade. Just take your time, learn, and start small!
Big warning on OANDA - that £20 withdrawal fee is brutal if you're taking profits regularly. Adds up fast! Their platform is decent though, especially the depth of market feature.
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