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75.2% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

8 Best UK Spread Betting Brokers for 2024 (Reviewed & Compared)

8 Best UK Spread Betting Brokers for 2024 (Reviewed & Compared)

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75.2% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

List of the Best Spread Betting Brokers May 2024:

  1. Spreadex
  2. Pepperstone
  3. AvaTrade
  4. Vantage Markets
  5. IG
  6. Saxo
  7. ActivTrades
  8. Moneta Markets

Within this article, we will provide you with the best 10 UK spread betting brokers and spread betting platforms to help you on your journey, whether you are a pro or a beginner.

Comparison Chart of the Best Spread Betting Brokers for May 2024

Broker

Spreadex Logo

Regulation

FCA

Minimum Deposit

£0

Spreads

Variable, Competitive

Spreadex

Broker

Pepperstone

Regulation

FCA, DFSA, CySEC, BaFIN, ASIC, CMA, SCB

Minimum Deposit

£0

Spreads

Variable, Competitive

Pepperstone

Broker

AvaTrade Logo

Regulation

ASIC, FSCA, FSA

Minimum Deposit

$100

Spreads

Variable, Competitive

AvaTrade

Broker

Alt text

Regulation

FCA

Minimum Deposit

£200

Spreads

Variable, Competitive

Vantage Markets

Broker

Alt text

Regulation

FCA, ASIC, CFTC

Minimum Deposit

£250

Spreads

Variable, Competitive

IG

Broker

Saxo

Regulation

FCA, FSA, MAS, ASIC, FINMA, ACPR, JFSA, SFC

Minimum Deposit

None

Spreads

Variable

Saxo

Broker

ActivTrades

Regulation

FCA

Minimum Deposit

£100

Spreads

Variable, Competitive

ActivTrades

Broker

Moneta Markets

Regulation

ASIC

Minimum Deposit

$200

Spreads

Variable, Competitive

Moneta Markets

Description of the Best UK Spread Betting Brokers for May 2024

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 the best 10 UK spread betting brokers:

1. Spreadex

Pros

  • Award-winning mobile app
  • Extensive US shares and ETFs
  • Extended hours trading available
  • Full TradingView integration
  • Free Financial Tomes subscription with qualifying deposit
  • No minimum deposit required
  • No inactivity fees

Cons

  • Does not offer MetaTrader 4 (MT4)
  • Limited to CFDs and spread bets
  • No physical share dealing

Spreadex stands out as one of the best spread betting brokers in the UK, offering a unique combination of features that cater to both novice and experienced traders.

Spreadex provides a wide range of markets for spread betting, including indices, shares, forex, commodities, and more. This extensive coverage allows traders to bet across global markets from a single platform, providing ample opportunities to speculate on price movements in various asset classes.

Both the Spreadex website and mobile app are designed with user experience in mind. The interfaces are intuitive, making it easy for new traders to get started while still offering the advanced functionality experienced traders expect. This balance ensures that all users can navigate and utilize the platform effectively, regardless of their trading expertise.

The Spreadex mobile app is an award-winner, noted for its excellent reliability and user-friendly design. This app allows traders to place bets, monitor markets, and manage accounts from anywhere, at any time. The ability to trade on the go is crucial for spread bettors who need to react quickly to market changes.

Integration with TradingView offers Spreadex clients state-of-the-art charting capabilities. These tools include a variety of technical indicators and graphical objects to help traders analyze market trends and potential price movements thoroughly. The platform also supports customized trading strategies, which can be particularly beneficial for more sophisticated trading approaches.

Spreadex is committed to providing educational resources that help traders understand and navigate the markets more effectively. This includes access to detailed market analysis, educational guides, and webinars that are suitable for enhancing the knowledge of traders at all levels. For beginners, these resources are invaluable in getting up to speed with spread betting fundamentals and strategies.

Spreadex offers competitive spreads and leverage options, giving traders the flexibility to manage their bets according to their risk tolerance and market outlook. Additionally, the platform allows for both small and large bets, accommodating various trading styles and budgets.

Regulated by the Financial Conduct Authority (FCA), Spreadex ensures that it adheres to strict financial standards and practices, providing a secure and transparent trading environment. This regulatory oversight is crucial for building trust and ensuring the protection of client funds and information.

Visit Spreadex

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% 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.

2. Pepperstone

Pros

  • Extensively regulated
  • No minimum deposit
  • Low fees and mostly free withdrawals
  • Good customer service

Cons

  • 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 spread bet 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 advantages of using spread betting brokers like 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.

Visit Pepperstone

75.2% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

3. AvaTrade

Pros

  • Worldwide regulated
  • Multiple platforms – MT4, MT5, etc.
  • Negative balance protection
  • 20% welcome bonus
  • Educational content
  • Wide rage of payments methods
  • Fixed spreads

Cons

  • 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.

This spread betting 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.

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Top Spread Betting Platform 2024
Top Spread Betting Platform 2024

4. Vantage Markets

Pros

  • Regulated by FCA, ASIC and VFSC
  • Low forex fees
  • No inactivity fee
  • No withdrawal or deposit fee
  • Good MetaTrader add-ons
  • Social trading

Cons

  • 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, one of the leading spread betting brokers, you have the opportunity to spread bets on a diverse range of markets, including forex, indices, commodities, shares, and cryptocurrencies. Vantage Markets distinguishes itself with competitive spreads, swift execution, and a dependable 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.

Visit Vantage Markets

Trading Forex and CFDs involves significant risk of losing of your invested capital and is not suitable for all investors. 64.86% of retail investor accounts lose money when trading CFDs with this provider. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.

5. IG

Pros

  • Highly regulated
  • MetaTrader 4 (MT4)
  • Over 10,000 instruments
  • Available in the UK and US
  • 24/7 customer support

Cons

  • 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. 

Benefits of using IG as your spread bet broker:

  • 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. 

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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of IG retail investor accounts lose money when trading spread bets and CFDs with IG. 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.

6. Saxo

Pros

  • Heavily regulated
  • Good product portfolio
  • Low forex fees
  • No withdrawal fee

Cons

  • Does not accept US clients
  • High fees for options, futures and bonds

As a renowned international online investment bank, Saxo provides a sophisticated spread betting platform, 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 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 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's platform.

Visit Saxo

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs, FX or any of our other products work and whether you can afford to take the high risk of losing your money. Losses can exceed deposits on some products.

7. ActivTrades

Pros

  • 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

Cons

  • 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 as a spread bet broker 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.

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Spread betting and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread betting and CFDs work and whether you can afford to take the high risk of losing your money.

8. Moneta Markets

Pros

  • Regulated by CIMA
  • Negative balance protection
  • No deposit fees
  • Low minimum deposit
  • MetaTrader 4 and PRO Trader platforms
  • No inactivity fee

Cons

  • No customer support during weekends
  • Educational and research content not as strong as others
  • No US clients

Spread betting brokers like Moneta Markets provide access to an extensive array of markets, encompassing forex, indices, commodities, shares, and cryptocurrencies. It is known for its competitive spreads, fast execution, and reliable platform.

Benefits of using Moneta Markets as your spread bet broker:

  • 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.

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What Is Spread Betting?

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?

What Is the Difference Between Financial and Forex Spread Betting?

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.

Key Points to Consider When Choosing a Spread Betting Broker

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.

Frequently Asked Questions

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.

Spread betting brokers look at the markets and make decisions about which products, markets and assets they believe will gain value. They will then make a wager based on this information.

Spread betting brokers make money primarily through the spread, which is the difference between an underlying asset's buy (bid) and sell (ask) prices. They adjust the spread to cover their costs and also to generate profits. Additionally, they may charge other fees such as overnight financing, account management, or trade commissions.

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.

Spread betting is tax-free in the UK. Profits from spread betting are exempt from capital gains tax and stamp duty, making it an attractive option for traders.

To start spread betting, you must open an account with a spread betting broker. Research and choose a reputable broker that offers the markets and features you're interested in. Once you've selected a broker, you'll need to complete the account opening process, deposit funds into your account, and then you can start placing spread bets on various financial instruments.

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.

It is possible to make money from spread betting. You should always remember though, that any sort of trading and gambling comes with risks and you should never risk more than you can afford to lose.

The right platform for you will largely depend on your requirements and level of experience. Some of the most popular options are:

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

Yes, spread betting is legal in the UK. It is regulated by the Financial Conduct Authority (FCA), which sets standards for brokers and ensures that they operate fairly and transparently.

Spread betting is primarily popular in the UK and Ireland, where it is legal and regulated. Some other countries may also permit spread betting, but regulations and tax treatment may vary. It's essential to check the local laws and regulations regarding spread betting in your country before engaging in it.

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.

Final Thoughts

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.

WikiJob does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. Investing involves risk including the possible loss of principal.

75.2% of retail investor accounts lose money when trading spread bets and CFDs with this provider.


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