Discover the Best Brokers for Spread Betting Compared in 2023
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- A list of the Top Spread Betting Brokers for November 2023:
- Comparison Chart of the Best Spread Betting Brokers for November 2023
- Description of the Best Spread Betting Brokers for November 2023
- What Is Spread Betting?
- What Is the Difference Between Financial and Forex Spread Betting?
- Key Points to Consider When Choosing a Spread Betting Broker
- Frequently Asked Questions
- Final Thoughts
Within this article, we will provide you with the best 8 spread betting brokers and spread betting platforms to help you on your journey, whether you are a pro or a beginner.
FCA, ASIC, DFSA
ASIC, FSCA, FSA
FCA, ASIC, CFTC
FCA, CySEC, etc.
If you are planning on starting your spread betting journey, you must trust the broker you choose. Ensuring your capital is safe is important – especially if you are betting a large amount.
Here is our list of best 9 spread betting brokers:
- Extensively regulated
- No minimum deposit
- Low fees and mostly free withdrawals
- Good customer service
- No investor protection for clients outside UK, EU and EEA
- Withdrawal fee for clients outside EU and Australia
- CFDs only
Pepperstone is a leading global broker that offers spread betting on a wide range of markets, including forex, indices, shares, commodities, and cryptocurrencies.
They are known for their competitive spreads, fast execution, and reliable platform.
Here are some of the benefits of spread betting with Pepperstone:
- Tax-free profits for UK and Ireland residents: Spread betting profits are generally tax-free for UK and Ireland residents, making it an attractive investment option.
- Leveraged trading: Spread betting allows you to trade with leverage, meaning you can control a larger position with a smaller deposit. This can magnify your profits, but it also increases your risk.
- Trade both rising and falling markets: With spread betting, you can profit from both rising and falling markets, giving you more flexibility in your trading strategies.
- Competitive spreads: Pepperstone offers competitive spreads on a wide range of markets, which can reduce your trading costs.
- Fast execution: Pepperstone's trading platform is designed for fast execution, so you can get your trades in and out of the market quickly.
- Reliable platform: Pepperstone's trading platform is reliable and stable, so you can trade with confidence.
Overall, Pepperstone is a good choice for spread bettors who are looking for a competitive and reliable broker. They offer a wide range of markets, competitive spreads, fast execution, and a reliable platform. However, it is important to remember that spread betting is a risky trading product, and you should only trade if you understand the risks involved.
- Worldwide regulated
- Multiple platforms – MT4, MT5, etc.
- Negative balance protection
- 20% welcome bonus
- Educational content
- Wide rage of payments methods
- Fixed spreads
- You can’t buy stocks
- Quarterly and annual inactivity fees
- Custumer support is not available 24/7
- No bonus for EU based clients
- No US clients accepted
- Imitated crypto assets
Spread betting on AvaTrade is a financial derivative strategy that allows traders to speculate on the price movements of a wide range of financial markets, including stocks, indices, commodities, and currencies, without actually owning the underlying asset.
In spread betting, a trader bets a certain amount of money per point movement in the market.
AvaTrade offers competitive spreads and leverage, which allows traders to open large positions with a relatively small amount of capital. However, it's important to remember that while leverage can magnify profits, it can also amplify losses, making it a risky venture.
AvaTrade provides a user-friendly platform with access to real-time market data, advanced charting tools, and risk management features like stop-loss orders to help traders manage their positions.
The platform is designed to cater to both novice and experienced traders.
It's crucial for anyone interested in spread betting to understand the risks and conduct thorough market research before engaging in trades, as spread betting involves high risk, particularly in volatile markets.
- Regulated by FCA, ASIC and VFSC
- Low forex fees
- No inactivity fee
- No withdrawal or deposit fee
- Good MetaTrader add-ons
- Social trading
- Not available to US clients
- CFD trading carries risk
- $50 is needed to start trading
Vantage Markets is a global online trading broker that offers a wide range of financial products, including spread betting. Spread betting is a form of speculative trading that allows you to profit from both rising and falling markets without owning the underlying asset.
With Vantage Markets, you can spread bet on a variety of markets, including forex, indices, commodities, shares, and cryptocurrencies. They offer competitive spreads, fast execution, and a reliable platform.
Here are some of the benefits of spread betting with Vantage Markets:
- Competitive spreads: Vantage Markets offers competitive spreads on a wide range of markets.
- Fast execution: Vantage Markets' trading platform is designed for fast execution, so you can get your trades in and out of the market quickly.
- Reliable platform: Vantage Markets' trading platform is reliable and stable, so you can trade with confidence.
- Wide range of markets: Vantage Markets offers a wide range of markets to spread bet on, including forex, indices, commodities, shares, and cryptocurrencies.
- Regulation: Vantage Markets is a regulated broker, which means that they are subject to certain financial regulations and standards. This helps to protect your money.
Overall, Vantage Markets is a good choice for spread bettors who are looking for a competitive and reliable broker. They offer a wide range of markets, competitive spreads, fast execution, and a reliable platform. However, it is important to remember that spread betting is a risky trading product, and you should only trade if you understand the risks involved.
- Highly regulated
- MetaTrader 4 (MT4)
- Over 10,000 instruments
- Available in the UK and US
- 24/7 customer support
- High fees
- No deposit compensation scheme for US accounts
- No copy trading
- Inactivity fees
IG invented spread betting in 1974 and today is the world’s leading online trading provider with more traders trusting them with their money than anyone else
IG is authorised and regulated by the FCA and provides traders access to over 18,000 markets. IG offers more 24-hour indices than any other provider, and extended hours on over 70 key US stocks
For those who prefer to own the underlying asset, IG offers access to over 13,000 global shares and ETFs, or a wealth portfolio managed by one of their experts.
- Advanced platform and charting – L2 dealer, ProRealTime and MT4
- Demo account
- Extended trading hours
- Extensive range of products
- Daily expert analysis & educational resources
- Round-the-clock customer service
- Negative balance protection for retail clients
Based on revenue (published financial statements, October 2022). 24/7 excludes the hours from 10 pm Friday to 8 am Saturday (UK time), and 20 minutes just before the weekday market opens on Sunday night.
5. City Index
- Regulated by FCA
- Low forex fees
- Low minimum deposit
- Good trading and research tools
- Social and copy trading
- No customer service during weekends
- Inactivity fee
- High commission for shares CFD trading
Best for: Spread betting and financial strength
City Index is well known across the industry as being the leading spread bet broker. It has competitive fees and a whole host of markets.
The company has been around for over 35 years and has won several awards for its exceptional trading platforms and mobile applications.
City Index also specializes in forex trading, spread betting and contract-for-difference (CFD) trading, and offers spreads from as low as 0.5 points.
Helping traders grow with its thorough educational tools, City Index has access to over 12,000 markets across indices, shares and commodities, and forex. It is also highly regarded within the industry and is regulated by the FCA.
City Index offers free withdrawals and deposits.
6. Saxo Bank
- Heavily regulated
- Good product portfolio
- Low forex fees
- No withdrawal fee
- Does not accept US clients
- High fees for options, futures and bonds
- High minimum deposit
As a renowned international online investment bank, Saxo Bank provides a sophisticated platform for spread betting, mainly catering to clients in the UK and Ireland where this form of trading is popular and tax-efficient (profits are free from capital gains tax).
Saxo Bank is known for its professional-grade trading tools and comprehensive market access. Traders can benefit from its advanced trading platforms, which offer extensive charting capabilities, real-time data, and a range of risk management tools.
These include stop-loss orders to help limit potential losses.
Additionally, Saxo Bank provides educational resources and market analysis to support traders in making informed decisions.
However, it's crucial to note that spread betting carries a high level of risk, especially when using leverage, which can both amplify profits and magnify losses.
Therefore, it's advisable for traders, especially those new to spread betting, to thoroughly understand the risks and consider their level of experience before trading on Saxo Bank's platform.
- Highly regulated
- Advanced trading tools
- Account protection
- Low trading fees
- No US clients
- Inactivity fee
- Minimum deposit of $250
Best for: On demand
Admiral Markets, rebranding to 'Admirals', describes itself as a ‘full-spectrum financial hub’.
In practice, Admirals is a broker that offers several forex and CFD trading instruments in most currencies.
Admirals (formerly known as Admiral Markets) has been known to offer spread betting services, particularly to clients in the UK where spread betting is a popular and tax-efficient way of trading the financial markets. Spread betting allows traders to bet on the direction of market prices without owning the underlying asset.
Founded in 2001, Admiral Markets is regulated by JSC, FCA, EFSA and CySEC, and offers traders access to both MetaTrader 4 and 5, with the opportunity to have several active accounts with different base currencies to take advantage of price instability.
There are several account types available, depending on the platform that you want to use.
On MT4, you can choose a standard account known as Trade.MT4. The minimum deposit for this account is 100 USD/EUR/GBP or equivalent, and you can trade 37 currency pairs as well as metal, energy, future, stock and bond CFDs.
In this account, the trading fees come from the spread, apart from with single share or ETF CFDs, which have a standard commission of 0.02 USD.
The Zero.MT4 account offers tighter spreads, with more currency pairs (45) but fewer CFD options.
The commission on forex and metal CFDs is 1.8 to 3 USD per lot, cash indices are 0.5 to 3 USD per lot, and energy CFDs are 1 USD per lot.
If you prefer the upgraded MT5, you can also have an Invest.MT5 account, alongside the Trade.MT5 and Zero.MT5. MetaTrader 5 accounts have access to more trading instruments in both Trade and Zero, but the Invest.MT5 is designed purely for buying stocks and ETFs, with more than 4,350 stocks and 200 ETFs available and a minimum deposit of 1 EUR/USD/GBP.
Deposits are free using bank transfer, card, PayPal or Klarna, but there is a 0.9% fee (or $1 minimum) for deposits made using e-wallets like Neteller or Skrill. You can have one free withdrawal a month as a bank transfer, but two if you use PayPal or e-wallets.
Admirals is available as a trading app on mobile as well as web and desktop, and the user interface and real-time trading that is available across platforms offer a seamless user experience.
The research and analytics are extensive, with technical and fundamental analysis alongside trading news, market sentiment and a market heat map. Access to MetaTrader Trading Central and a weekly trading podcast is also provided.
In terms of education, there are articles and tutorials, eBooks, trading videos, webinars and seminars as well as a FAQ and a handy glossary.
If you are not a UK resident, the conditions might change depending on the regulation. Please, check the Admirals website for details.
Please, be aware that if you want to see UK conditions but you don't have a UK IP address, then you must select Admirals Markets UK at the bottom of the home page.
- No minimum first-time deposit
- Optimal trading execution
- More than 1,000 CFDs
- State-of-the-art trading infrastructure
- Customer support on 14 languages via email, chat and telephone
- No copy trading
- Not available for US clients
- No bonus for EU based clients
ActivTrades is a traditional CFD broker and has been trading for more than 20 years on 140 markets. ActivTrades is authorized and regulated by the FCA, CSSF and SCB.
Its strong points include:
- No minimum first-time deposit
- No commissions
- Several payment methods for deposits and withdrawals
- Tight spreads from 0.5 pips
It offers one of the best execution speeds in the industry with low latency below 0.004s.
It utilizes the most advanced technology to improve users' trading efficiency – users can automate trades, build integrations and create trading apps using ActivTrades' market-leading CFD and spread betting technology.
Exceptional trading infrastructure is available on ActivTrader and MetaTrader 4 and 5.
ActivTrades invests deeply in specially developed educational materials for its clients – including webinars, regular outlooks, manuals, etc.
Type of offers: ActivTrades focuses on well-developed products in its trading portfolio. Customers can choose from over 1,000 CFD or spread betting instruments across forex, indices, shares, commodities, financials and ETFs.
It also offers investing solutions for its institutional partners.
Spread betting allows UK residents ONLY to trade the prices of financial instruments, including forex, indices, commodities and LSE shares.
- Regulated by CIMA
- Negative balance protection
- No deposit fees
- Low minimum deposit
- MetaTrader 4 and PRO Trader platforms
- No inactivity fee
- No customer support during weekends
- Educational and research content not as strong as others
- No US clients
Moneta Markets is an online trading broker that offers spread betting on a wide range of markets, including forex, indices, commodities, shares, and cryptocurrencies. It is known for its competitive spreads, fast execution, and reliable platform.
Benefits of Spread Betting with Moneta Markets:
- Competitive Spreads: Moneta Markets offers competitive spreads on a wide range of markets, which can reduce your trading costs.
- Fast Execution: Moneta Markets' trading platform is designed for fast execution, so you can get your trades in and out of the market quickly.
- Reliable Platform: Moneta Markets' trading platform is reliable and stable, so you can trade with confidence.
- Wide Range of Markets: Moneta Markets offers a wide range of markets to spread bet on, including forex, indices, commodities, shares, and cryptocurrencies.
- Regulation: Moneta Markets is a regulated broker, which means that they are subject to certain financial regulations and standards. This helps to protect your money.
- Demo Account: Moneta Markets offers a demo account that you can use to practice spread betting before you start trading with real money.
- Education Resources: Moneta Markets offers a variety of education resources, including webinars, articles, and videos, to help you learn about spread betting.
Before you start spread betting, it is important to make sure that you understand the product. Spread betting is a complex product, and it is important to understand the risks involved before you start trading.
When you first start spread betting, it is a good idea to start with a small deposit. This will help you to limit your losses if things go wrong.
One of the most common mistakes that spread bettors make is chasing their losses. This is when you keep trading after you have made a loss in an attempt to recoup your money. This is a dangerous strategy, and it can often lead to even greater losses.
Spread betting is when you put a wager or place a bet on a product or market and the outcome of its success, without taking ownership of said product/market. The monies, or winnings, received after the bet is placed is determined by whether an asset’s value increases or decreases.
For instance, you place a bet on a well-known financial market and predict that it will increase from its current price within the next week. You open a spread betting position on the asset, and if it rises you’ll make a profit, and if it falls you’ll make a loss. The same also applies to whether you believe the price will fall and place a bet on that particular outcome.
For more on spread betting, see our comprehensive article: What Is Spread Betting and How Does It Work?
Financial spread betting is a by-product that is used to figure out the increasing or decreasing value on financial products, whereas forex spread betting is about the purchasing and selling of one currency in exchange for another currency.
Some people prefer spread betting as they do not have to take ownership of the product and can just place a simple bet on their chosen product – which might seem more appealing to early traders.
If you would prefer to partake in forex spread betting over a financial spread bet, you can take advantage of using leverage to complete the trade. Leverage lets you borrow money from investors, or brokers, to finance the exchange.
The key differences between financial spread betting and forex spread betting are:
- Forex trading only allows you to work with currency-based trades and foreign exchange, whereas financial spread betting offers you a wider range of markets to bet on.
- There are no direct trades with financial spread betting like there is with forex. For forex deals, you must work with currency exchanges directly.
- Financial spread betting can be tax-free in some areas – this will depend on where you are trading. For instance, you do not have to pay tax for bets in the UK.
- You can take advantage of leverage and receive finance from investors when you are doing a forex trade.
When you are choosing a spread betting broker, there are a few things you must consider before placing your bet.
Trust – It is important you do your homework and have faith in the spread betting broker you are going to use to place your bet. After all, you could be betting a large amount of capital on a certain market.
Experience – How long has the brokerage been going for? Do they have experience in spread betting in the market you have been speculating?
Cost – To make big on your return you want to keep your costs low, which means you need to think carefully about how much commission the broker wants in return. To begin with, you need to think about the spread, which is the difference between the bid price and the offer cost of the asset you are trading. A spread betting broker will charge for the opening and closing of a bet for you, so to make a profit you will need to look for the lowest spread.
Customer service – As with most industries, you might have had good customer service from a spread betting provider in the past and wish to proceed with this provider due to positive interactions. Are they available all day long? For some bets, you might want to liaise with your spread betting broker throughout the day.
The platform – The spread trading platform a broker uses is important as the customer journey will help new spread betting traders get started. This will also help with time and accessibility. Is the platform mobile friendly? Does it offer useful tools if a customer service agent is not available?
Tradeable assets – How many markets does the broker trade in and do they offer financial spread betting and forex? It is good to know this before placing your bets, especially if you are looking for a broker to have a long relationship with.
Regulation – Check whether the spread betting broker is regulated. The broker must be clear about their financial history. The location of the broker will determine which governing body they are regulated by. For example, if you are using an EU-based broker, they should be regulated by the Financial Conduct Authority (FCA).
There are many top brokers around the world, some you may have heard of, and newer brokers who might focus on specialist markets. You must do your homework on each broker to know which one suits you and your bet.
Spread betting is essentially a form of gambling. It is the process of putting a wager – or bet – on the success of a particular product or market without owning it. The number of potential earnings or losses are calculated depending on whether an asset gains or loses value.
The right broker for you will largely depend on your needs and what you hope to gain. Spread betting can offer high returns but it is generally considered to be riskier.
If you are a naturally cautious person then you may prefer forex trading.
The most important thing to consider when spread betting is the broker to use. You will want to choose one which offers a range of educational tools and resources to help you learn about spread betting as well as providing regular market updates to help you create your strategy.
No, although they have some similarities they are different forms of market trading activity.
There are several pros and cons to consider when it comes to spread betting. Some of the pros are:
- The ability to access out-of-hours trading
- The ability to trade your bets without paying commission
- The potential to profit from trades without paying tax or stamp duty on it
Some of the potential cons are:
- The potential for sudden losses
- Losses can be significant
- Potentially riskier than other market strategies
Spread betting is essentially gambling and, as with other forms of gambling, this means that it comes with a level of risk.
However, this doesn’t mean that you won’t be able to make a profit. As long as you are careful to educate yourself about the market conditions and are aware of what your stop limits should be, you have the potential to make money.
The qualities you are looking for in a spread betting broker will depend on the market you want to bet on, your trading experience and the amount you want to place.
If you are new to the world of spread betting, most of the providers listed above provide the ability to create demo accounts or replicate existing bets so you can get a feel for it. You might also want to go with a broker who specializes in dealing with new traders and is more equipped with educational and training facilities.
To summarize, consider the following factors when selecting a broker:
- Are they regulated in all the countries where they are based?
- Do they offer good value and showcase their fees and financials clearly?
- Do they provide access to high-quality, optimized trading platforms that offer a user-friendly experience?
Many brokers offer a vast amount of training courses and educational assets. Do your homework if you are a spread betting beginner.
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