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Best Spread Betting Brokers in the UK 2024

Thadeus Geodfrey, an experienced writer and self-taught trader, is not just about market analysis. His skill in identifying fraudulent brokers and ensuring traders’ safety offers security. Join Thadeus and feel protected in your trading endeavours.

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Spread betting offers you the opportunity to enjoy tax-free returns. However, you won’t gain anything from this endeavour without sufficient knowledge and the right skills; in fact, you may incur catastrophic financial losses. Furthermore, to protect your data and assets, you need to interact with the best spread betting brokers UK, which are regulated by the FCA. Finding a good broker shouldn’t be a problem since we’ve analysed different service providers and selected the best. While doing so, our experts considered numerous elements, including security, fees, and spreads.

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

  • Pepperstone – Overall Best Spread Betting Broker UK
  • OANDA – Best Broker for Seasoned UK Spread Bettors
  • Spreadex Best Spread Betting Broker for Risk Management
  • AvaTrade – Best Spread Betting Broker for Beginners
  • FxPro – Best Spread Betting Broker for Competitive Spreads
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 5 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 & RegulationSupport ServiceSoftwarePayment MethodDemo Account
PepperstoneFCA, MAS, ASIC, FSCA, DFSA, CySEC, CMA, SCB, BaFin24/5TradingView, MT4, MT5, cTrader, Pepperstone Trading Platform, Social tradingVisa, Mastercard, Bank transfer, Neteller, Skrill, PayPalYes
OANDAFCA, SEC, B.V.I FSC, CySEC, ASIC24/5Web, Mobile, MT4, TradingViewCredit/debit cards, Bank/wire transfer, Skrill, NetellerYes
SpreadexFCA, FMA24/5Online platform, Mobile trading, Charting package, TradingViewCredit/debit cards, Apple Pay, Bank transferNo
AvaTradeFCA, FSCA, CBI, CySEC, PFSA, ASIC, B.V.I FSC, FSA, ADGM, ISA24/5WebTrader, AvaOptions, AvaTrade App, Mac Trading, MT4, MT5, Automated TradingCredit/debit cards, Neteller, Skrill, Wire transfer, WebMoneyYes
FxProFMA, FCA, CySEC, FSCA, SCB 24/5FxPro Mobile App, MT4, MT5, cTrader, FxPro WebTraderCredit/debit cards, Bank wire transfers, Neteller, Skrill, PayPalYes

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

Best Spread Betting BrokerMinimum Deposit RequirementCommission/ SpreadsDeposits/ WithdrawalsInactivity Fee
Pepperstone£0From 0.0 pipsFree£0
OANDA£0From 0%£20 withdrawal fee£10 monthly fee
Spreadex£00.6 ptsFree£0
AvaTrade£100From 0.13 pipsFree£50 after every 3 consecutive months of inactivity
FxPro£100From £3.50 per lotFree£10 monthly

Assets

Best Spread Betting BrokerStocksForexCryptoCommoditiesIndicesETFsOptions
PepperstoneYesYesYesYesYesYesNo
OANDAYesYesYesYesYesYesNo
SpreadexYesYesYesYesYesYesYes
AvaTradeYesYesYesYesYesYesYes
FxProYesYesYesYesYesYesNo

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. 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 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

trustpilor logo
2,831 User Reviews
google
4,490 User Reviews
apple
130 User Reviews
investingguide logo
Our Rating
Total Rating:
7,451 User Reviews
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.

The Pepperstone trading platform gives traders access to over 90 FX pairs and 1200+ CFDs on different assets, including shares, indices, and commodities. UK traders can access all the products that this broker offers. But, to minimize losses, prioritize trading assets you are familiar with. If there’s an alien instrument you’d like to try, learn its fundamentals before risking your money.

Here’s an overview of Pepperstone’s products:

  • Forex: You can trade diverse currency pairs with Pepperstone, including majors, minors, exotics, and crosses. This trading platform promises to fulfill all FX exchange trades fully, without requotes or partial executions.
  • Commodities: Pepperstone users can trade CFDs on popular commodities like crude oil, natural gas, silver, and gold. This broker doesn’t have rollovers or expiry for CFD commodities.
  • Indices: With a Pepperstone account, you can speculate on the price movements of indices like JPN225, UK100, and US500. This platform supports leverage trading, meaning you won’t need large sums to open sizable positions while trading CFDs on indices.
  • Currency indices: You can use the Pepperstone trading platform to trade popular currency indices like EURX, USDX, and JPYX. However, note that some of these instruments have high spreads.
  • Shares: If you want to trade shares CFDs, Pepperstone is the platform to choose. It offers CFDs on shares from different corners of the globe, from the UK to Germany and the US.
  • ETFs: Pepperstone supports over 100 ETFs. You can trade CFDs on these assets and profit from rising and falling prices. The ETFs available on this platform follow the performance of diverse sectors, from technology and energy to mining and bonds markets.

2. OANDA – Best Broker for Seasoned UK Spread Bettors

We encouraged seasoned traders interested in spread betting to sign up with OANDA. In our view, that is a splendid move since this platform allows its users to register a spread betting sub-account within a few minutes and take positions on 100+ instruments. These range from UK 100 to EUR/GBP, with tight spreads from 1 point and 0.8 pips, respectively.

Spread betting with OANDA is also advisable for seasoned pros since the broker hosts numerous excellent trading platforms. For starters, you can use its proprietary Trade web-based platform, which enables you to improve decision-making with optimised technical analysis tools, customisable layouts, depth of market, etc. You can also go with TradingView or MT4, which are commendable third-party trading platforms.

When it comes to diversifying your portfolio, OANDA offers a wide range of CFD assets you can use, including forex, indices, and metals.

OANDA

✔No minimum deposit requirement
✔Excellent customer support service

trustpilor logo
946 User Reviews
google
6,220 User Reviews
apple
2,300 User Reviews
investingguide logo
Our Rating
Total Rating:
9,466 User Reviews
Pros & Cons
Fees
Trading Assets

Pros

  • Provides powerful trading platforms like TradingView and MT4
  • No minimum deposit requirement
  • Mobile spread bettors have access to a robust app with 50+ technical tools
  • Well-designed web user interface

Cons

  • Dormant accounts incur a £10 monthly fee
  • Higher withdrawal fees than other industry leaders

Opening an OANDA trading account is free, and you only need your personal details to set it up. From our experience, there is no minimum deposit requirement. We believe this attracts even low-budget traders as they can easily dive into financial market investment with any amount they can afford.

We also noticed that the OANDA broker doesn’t charge fees for deposits. This is whether you transact using credit/debit cards, e-wallets, or bank transfers. Plus, users can make one free withdrawal every month using their credit/debit cards. Subsequent withdrawals attract a fee, which varies depending on the currency you are transacting with. Bank transfers and e-wallet withdrawals also attract a fee, which from our analysis, is higher than credit/debit card withdrawals.

When it comes to inactivity fees, OANDA charges £10 monthly should your account remain dormant for over 12 months. Financing charges also apply for positions left overnight. Overall, we can confidently state that OANDA has no hidden charges. It allows users to easily plan and budget for their activities without worrying about future surprises.

OANDA prides itself on being one of the best forex and CFD brokers. We also discovered that it offers spread betting services for UK clients. You can explore over 120 instruments, including indices, forex, commodities, and more.

Note that CFD trading carries inherent risks, and you can incur massive losses without a solid plan and strategy. From our analysis, over 76% of retail traders lose money from CFD assets. Therefore, always conduct thorough market research and be confident in your strategy before opening a CFD position.

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

trustpilor logo
113 User Reviews
google
100 User Reviews
apple
155 User Reviews
investingguide logo
Our Rating
Total Rating:
368 User Reviews
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.

Spreadex offers thousands of financial instruments to traders, ranging from 60+ FX pairs to over 10,000 CFDs. It also allows users to bet on spreads UK and earn returns. Here’s a breakdown of the assets we discovered while reviewing Spreadex:

  • Forex: Spreadex supports 24/5 trading on select forex markets. You can trade different pairs on this platform, from GBP/CAD and GBP/AUD to EUR/NZD and USD/CAD. You can also trade CFDs on many of the available forex markets.
  • Indices: With a Spreadex account, you can speculate on the prices of major stock indices, including UK 100, UK MID 250, and Hong Kong 50. You can also trade CFDs on the available stock indices.
  • Shares: This broker allows you to trade CFDs on popular stocks and bet on spreads on supported shares. All you have to do is use the incorporated search function to look for your preferred stock and any related information, including minimum stakes and spread widths.
  • Commodities: After signing up with Spreadex, you can trade CFDs on different commodities, including gold, cotton, and crude oil. You can also venture into commodity spread betting.
  • ETFs: Over 200 ETFs are available on Spreadex, including the Valkyrie Bitcoin Fund and the Invesco Galaxy Bitcoin ETF. You can use this platform for ETF CFD trading and spread betting.
  • Options: Spreadex supports options trading and spread betting. The platform offers numerous options, including UK 100, SPX 500, and US Tech 100.
  • Cryptocurrencies: As a Spreadex account holder, you can bet on the spreads of popular digital assets like Bitcoin, Ethereum, and Dogecoin. These have reasonable spreads starting from 0.1 pips.
  • Bonds and interest rates: Spreadex allows investors to speculate on the prices of bonds and interest rates. You can also bet on the spread of these instruments while interacting with this platform. The available products range from UK Long Gilt and German Schatz to French OAT and Japanese Government Bond.

4. AvaTrade – Best Spread Betting Broker for Beginners

AvaTrade is our top choice for beginners. We’ve awarded this position to AvaTrade since it has a wonderful training platform: AvaAcademy. If you are a complete newbie to spread betting, visit it. You’ll find many articles and guides that will introduce you to the basics, like the definition of spread betting and tips for identifying if this venture is for you.

Additionally, we think AvaTrade is ideal for beginners since the web platform is simple and intuitive. It’s easy to use and has no unnecessary complications that can overwhelm novices. The same applies to this broker’s other platforms, including Mac Trading and the AvaTrade mobile app.

Not to forget, AvaTrade allows new users to try spread betting with a risk-free demo account. To a novice, that is a godsend since it allows practising without risking hard-earned cash.

AvaTrade

✔Free deposits and withdrawals
✔Beginner-friendly user interface

trustpilor logo
2,549 User Reviews
google
10,200 User Reviews
apple
26 User Reviews
investingguide logo
Our Rating
Total Rating:
12,775 User Reviews
Pros & Cons
Fees
Trading Assets

Pros

  • Premier educational materials and resources
  • Simplified, beginner-friendly interface
  • Newbies can start spread betting with a virtual account
  • Free deposits and withdrawals
  • Dedicated support provided

Cons

  • Dormant AvaTrade accounts incur high inactivity fees
  • Limited financial instruments

Before going any further, note that there’s an AvaTrade minimum deposit requirement for UK traders. Fundamentally, this service provider requires Britons to fund their account with at least £100 while using supported payment methods like wire transfer, credit card, and e-payment. You should keep that in mind while funding your trading account.

That aside, while evaluating AvaTrade, we discovered that this broker has numerous fees and costs. For starters, it requires dormant account holders to pay a £50 inactivity fee. It kicks in after 3 successive months of dormancy, and the broker charges it after every 3 months.

Additionally, dormant AvaTrade accounts incur a £100 annual administration fee that takes effect after 12 months of inactivity. Not to forget, while trading with AvaTrade, you’ll have to cover an overnight premium whenever you keep a position open after the stipulated overnight funding time, which is 22:00 GMT.

Regarding spreads and commissions, AvaTrade is one of the most affordable brokers in the UK. With this platform, you will enjoy reasonable spreads starting from 0.13% while trading popular instruments like Tesla and Amazon shares are involved. AvaTrade doesn’t require traders to cover any commissions. The broker uses the Bid-Ask spread to compensate itself.

AvaTrade offers 1,250+ financial instruments. With this broker, you can trade everything from FX pairs to CFDs on stocks and indices. Here’s a detailed overview of all of the products offered by AvaTrade:

  • Forex pairs: AvaTrade allows users to trade over 60 currency pairs 24/5. Popular options range from GBP/USD and EUR/USD to EUR/GBP and USD/JPY. The platform also offers other minor and exotic pairs like GBP/NZD, USD/CLP, and GBP/SGD. Some of these instruments have tight spreads starting from 0.9 pips.
  • Cryptocurrencies: If you are a crypto enthusiast, you can use an AvaTrade account to trade CFDs on a wide variety of assets, including Bitcoin, Ethereum, and Stellar.
  • ETFs: AvaTrade supports CFD trading on popular ETFs like the MSCI EAFE Index Fund, the Energy Select Sector SPDR, and the iShares U.S. Aerospace & Defense ETF. All of the available ETFs have a 0.13% spread.
  • Stocks: Upon opening an AvaTrade account, you will get the opportunity to trade CFDs on stocks associated with respected companies like Google, Apple, and American Express.
  • Bonds: AvaTrade allows clients to trade CFDs on European, US, and Asian government bonds. Available products include EURO-BUND and JAPAN GOVT BOND.
  • Commodities: If you are interested in commodity trading, sign up for AvaTrade. You’ll have an uncapped opportunity to trade CFDs on hard commodities like gold and soft commodities like corn.
  • Indices: You can trade index CFDs on AvaTrade and avoid the hassle of analysing the performance of individual company stocks. The index-related products offered here range from the Cannabis Index to the US100 Index.

5. 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

trustpilor logo
526 User Reviews
google
2,560 User Reviews
apple
487 User Reviews
investingguide logo
Our Rating
Total Rating:
3,573 User Reviews
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.

FxPro UK lists over 2,100 CFD instruments to trade. These include shares, forex, metals, indices, energy, and futures. While we like trading these assets, its offering is limited compared to most of its peers. Let’s break down these offerings so you can fully understand what to expect. 

  • Forex: Forex trading at FxPro gives you access to 70+ currency pairs, including major, minor, and exotic. You will enjoy fast trade execution with low spreads starting from 0.0 pips.
  • Shares: We also discovered thousands of shares to trade on this broker’s platform. These include popular options like Google, Meta, Apple, Barclays, Starbucks, and more.
  • Indices: Popular indices across Europe, America, and Asia are available to trade as CFDs. You can trade this asset on multiple platforms, including MT4, MT5, FxPro Edge, and cTrader.
  • Futures: For those who prefer trading futures, FxPro offers endless opportunities. Futures are a popular investment method that allows traders to speculate on the value of a range of commodities, indices, and energy.
  • Energy: You can also trade popular spot energy commodities like Natural Gas and Brent Oil. These are ideal instruments for short-term trading and portfolio diversification.
  • Metals: If you are passionate about metals like gold, palladium, platinum, silver, copper, and lead, FxPro is your one-stop platform. The best part is that you can explore them on a platform of your choice while incurring low charges.

Spread Betting in the UK

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?

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.

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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Thadeus Geodfrey

Thadeus Geodfrey and finance are inseparable. He is a versatile expert with a strong cryptocurrency and market analysis background. Thadeus provides a unique blend of technical and strategic insights as a seasoned financial writer. His overarching probe and attention to detail inspire the InvestingGuide community. He guides you through the continuously evolving market landscape to build solid investments or make successful trades.

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