Best Spread Betting Brokers in the UK

With social trading capabilities and a commitment to client education, FXCM is an excellent choice for traders who wish to advance their knowledge on spread betting. Besides extensive guides and analyses studying trading patterns of successful investors, the platform also offers exposure to webinars delivered by financial experts on a weekly basis, discussing the latest market development regarding various securities. Beginners can also benefit from an in-built trade analytics tool, with which they can analyse their trading behaviour, identify mistakes, and ultimately make better-informed decisions.

While the broker has extensive coverage for traders with little experience, it doesn't lack in analysis and algorithmic functionalities; users can access the industry-grade charting tool TradingView and gain access to MetaTrader 4 to automate their trades. It does, though, lack market access compared to its competitors with a reach of 290 markets and products.

Markets.com

Depending on the underlying security, leverages offered by Markets.com can climb up to 300:1 — making the platform among the spread betting platforms offering the highest leverages. It's worth noting that while this can multiply your earnings by 300, it can also magnify losses 300x, which would be truly horrific, and therefore should be used with caution. The outfit also maintains an impressive reach of up to 2,100 investment products, along with a decent collection of educational materials, webinars, guides, and tutorial videos. The outlay of the platform is straightforward and neatly organised, with integrated analysis tools and a news feed for generating investment ideas.

Markets.com is ideal if you’re looking for high leverage. The platform’s easy-to-use design, combined with the potential for large gains, allows me to explore more riskier strategies with confidence—just be cautious about the risks involved.

Pros

• High leverage up to 300:1 available
• Intuitive platform with built-in analysis tools
• Over 2,000 tradable assets across sectors
• Comprehensive learning hub with video tutorials

Cons

• High leverage increases risk significantly
• No MetaTrader 5 support
• Some tools may be basic for experienced users

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Pepperstone

Pepperstone is the top choice for the lowest fees trading platform allowing you to get started with the razor minimum spreads, starting from 0.0 pip. This is among the best deals offered by the spread betting brokers and is applicable for many of their major forex pairings. The platform includes advanced order types to ensure risk management but lacks in more sophisticated tools. You can explore spread betting opportunities across various markets including indices, commodities, shares, and forex.

I’ve been impressed with the low fees on Pepperstone. The spreads starting from 0.0 pips make it one of the best for cost-effective trading, especially when trading forex. It’s perfect if you want to maximise profit without high costs.

Pros

• Extremely low spreads starting from 0.0 pips
• Fast execution with minimal slippage
• FCA-regulated and offers high transparency
• Wide market access including forex, indices, and shares

Cons

• Limited proprietary tools and analysis features
• Less educational content than competitors
• Lacks variety in platform personalisation

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CMC Markets

CMC Markets offers spread betting on over 12,000 instruments, including shares, commodities, ETFs, treasuries, forex pairs, and indices. It is an award-winning trading platform that allows strategies to be customized and deployed with automation. The outfit is regulated by the FCA, and the FSCS protects customer funds for up to £85,000. Its tight spread and precise charting tools allow traders to improve their trading experience and potentially have a better chance of profiting compared with less advanced brokers.

For anyone trading stocks, CMC Markets is a solid option. The platform’s tight spreads and automated strategies give me more control over my trades, and the 12,000 instruments available ensure there’s always something new to explore.

Pros

• Over 12,000 instruments to trade
• Tight spreads and precise charting tools
• Award-winning trading platform
• Customisable strategies with automation

Cons

• Platform may seem complex to new users
• Customer support can be slow during busy hours
• Minimum deposit requirements not as low as others

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A veteran in the spread betting industry with experience spanning six decades, OvalX offers an impressive reach of up to 6000 markets, appealing the most to traders who seek a wide range of trading opportunities and a diversified portfolio. Overall, the platform is more suited for seasoned traders as beginner traders may find the learning curve a bit too steep. Its proprietary ETX TraderPro platform is highly customisable, including an industry-grade charting tool and integration with MetaTrader 4 for those who'd like to automate their trades. Besides being regulated by the FCA, the outfit is also publicly traded on LSE, making it one of the safer options for spread betting.

City Index is our top commodity spread betting platform in the UK due to its impressive reach of over 20 markets, with the most commonly traded assets including gold, silver, oil, metals, and soft commodities. It is competitively priced and the award-winning software ensures quick and reliable trades. The outfit harnesses over four decades of experience and maintains an impeccable industry reputation.

Forex.com

The specialised trading platform includes over 50 currency pairs with very competitive spreads. It's possible to access the execution scorecard, which showcases the quality of their trade executions. According to the data shared, 99.48% of trades are executed in less than 1 second and the average execution speed stands at 0.06 seconds. The far-reaching of forex educational resources on the platform are among the best in the industry, making it a perfect choice for beginners.

Pros

• Specialised in forex with over 50 currency pairs
• Competitive spreads and fast execution
• Industry-leading educational materials
• Execution scorecard promotes transparency

Cons

• Lacks variety in other asset classes
• Some tools require a learning curve
• Web platform less flexible than desktop version

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Spreadex

SpreadEX is a spread betting-focused platform that requires no minimum investments to open an account. At first glance, it is easy to confuse it for a sports betting platform, but there is a section of the website that’s dedicated to financials like indices, shares, forex, commodities, and more. The simple UI and lack of other financial products mean traders can quickly find the features they need to execute trades. The pricing structure is among the most transparent across the board, making it easier to compare the platform before making a decision.

Pros

• No minimum investment required to get started
• Simple, user-friendly interface
• Transparent pricing structure
• Covers both financial and sports betting options

Cons

• Fewer features for advanced traders
• Market access is more limited
• Confusing site layout between financial and sports sections

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It’s important to find a brokerage platform that is in regulation by top-tier organisations like the Financial Conduct Authority. Regulators ensure that financial companies adhere to scam-free and safe practices, which protect customer funds and promote trust in the industry. As per these regulations, customer accounts need to be segregated from company assets. This ensures that in the event of the firm going insolvent, the customer assets will be protected and not seized to cover the debts. Other popular regulators in the UK that oversee financial services include the Bank of England, the Prudential Regulation Authority (PRA), and The Financial Policy Committee.

Besides regulatory compliance, brokers also employ industry-standard security measures like data encryption, two-factor authentication, secure payment processing, and anti-fraud measures.

The platform's reliability and stability are important to execute trades quickly and avoid large amounts of slippage. Traders who want to execute a trade at a specific price point would be frustrated if they miss out on the opportunity because of technical problems. We recommend that users use small amounts of money or a demo version to test out a broker before increasing the size of their investments. Also, reading customer reviews on review aggregators like Trustpilot gives you an idea about customer feedback.

Using risk management tools is crucial for reducing the risks that come with spread betting. These tools act as a protective layer, helping traders stay within manageable risk limits. Without proper safety features, your losses could easily surpass the funds available in your account—which can quickly spiral into a financial disaster.

Risk management tools allow you to set clear rules for when to exit a trade, either to cap losses or to lock in profits. From personal experience, I can say that not having these tools in place led to some painful lessons in my early trading days. Once I began consistently using them, not only did my losses shrink, but I also felt much more confident in my decisions and less emotionally driven.

Now let’s take a closer look at the different risk management tools available when spread betting:

• Stop Loss: A stop loss is a vital function that automatically closes your trade when the market price moves against you to a certain point. It acts like an emergency brake, limiting your downside. Depending on your trading strategy, you might set your stop loss based on your total account balance (equity stop), market volatility (volatility stop), technical chart patterns (chart stop), or your available margin (margin stop). Personally, I often rely on volatility-based and chart-driven stops, as they offer a more dynamic response to market behaviour while still keeping risk in check.

• Take Profit to Secure Profits: This tool does exactly what the name implies—it secures your gains by automatically closing your trade once a set profit level is achieved. It's particularly useful for maintaining discipline and avoiding the temptation to chase even higher profits at the risk of a sudden market reversal. Using take profit orders has saved me from countless missed opportunities. There have been times when I hesitated to close a position manually, only to see the price swing in the opposite direction. Now, I always set my targets in advance and stick to them.

• Trading Calculator: Trading calculators are incredibly helpful in determining how much you should risk per trade based on your portfolio size and risk tolerance. They take into account leverage, stop-loss distance, and account balance to help you plan more responsibly. Before I started using a trading calculator, I often placed trades that were either too large or too small, which threw off my strategy. Since making it part of my routine, my trading has become far more structured and sustainable.

Check out the customer support quality before registering an account with a UK spread betting broker. That’s because you’ll eventually run into problems and receiving adequate support is important to avoid getting frustrated and missing out on money-making trades. The customer support communication channels should be available 24/7 and include multiple channels such as live chat, phone, and email.

Understanding trading fees is essential for evaluating profit potential and comparing investment platforms. Even small differences in fee structures can significantly impact long-term returns, especially if you trade frequently or hold leveraged positions. Below is a breakdown of common fee types you may encounter when spread betting:

• Spread: The spread is expressed in points and represents the difference between the bid and ask prices. It's essentially the broker’s built-in cost for facilitating your trade. The size of the spread varies depending on the instrument—more liquid markets like major forex pairs tend to have tighter spreads, while less common assets might have wider spreads. In my early trading days, I was surprised to see how much spreads could eat into profits on fast trades, so I started focusing on assets with tighter spreads to reduce costs.

• Commission: Some spread betting platforms do charge a commission per trade, although many reputable brokers now offer commission-free models. These platforms typically generate revenue from the spread itself. It’s important to check whether a low spread compensates for commission charges or not. Personally, I switched from a commission-based broker to a spread-only platform, and it simplified my cost analysis considerably without sacrificing execution quality.

• Overnight Funding: If you’re using leverage and hold a position overnight, you’ll usually be charged an overnight funding fee (also known as a swap fee). This is essentially an interest payment on the borrowed funds used to maintain your position. When I first got into longer-term trades, I didn’t factor in these costs, and they gradually reduced my gains. Now I always double-check the overnight rates before holding positions past market close.

• Inactivity Fee: Some platforms charge an inactivity fee if your account has a positive balance but no trading activity over a specific period—typically three months or more. This fee is usually deducted monthly. It caught me off guard once when I took a break from trading, only to return and see my account slightly drained. Since then, I’ve set reminders to either withdraw funds or place a small trade occasionally to keep the account active.

• Deposit/withdrawals: While many platforms offer free deposits and withdrawals, fees may still apply depending on the payment method or if currency conversion is required. It’s worth checking the fine print, especially if you’re using international bank transfers or third-party payment processors. I once used a credit card to deposit and was hit with both a service fee and a conversion fee—lesson learned!

• Extra Service Charges: Additional services like premium charting tools, priority support, or access to real-time market data may come with separate charges. These features can be valuable for active traders but are not always necessary for beginners. I subscribed to live data feeds during a particularly volatile trading month, and although it was an extra cost, it paid off by helping me time my trades more accurately.

Spread betting works by taking a position on an underlying asset without taking ownership of the said asset. You’ll need to understand some concepts, most notably going long and short: going long refers to predicting that the price of the asset will increase, whereas going short is predicting that the asset will go down in price. The practice is fairly common across the UK, with the majority of trading platforms including it within their service line.

The trade is broken up into points, which is the interval that the asset can move. The bet size is the amount you want to bet per point. So if you bet £10 per point, and the asset moves 10 points in your predicted direction, then you’d make a profit of £100. Furthermore, you can take advantage of leverage to increase the risk and potential reward of your spread betting. Brokerage platforms may provide leverage of up to 10-30 times your margin, which is the number of funds you’ve deposited into the margin account. Leverage can also be expressed as the amount of margin required. For example, if the margin requirement is 5%, then it means that the leverage is 20x.

Spread Betting Vs CFDs: Both of these are leveraged derivative products where the value is derived from the underlying asset. Also, investors have no ownership of the assets for these trade types. Yet, there are key differences: spread betting has a fixed expiration date, whereas CFDs don’t, and spread betting is completed via OTC (over-the-counter), and CFD trades are done directly within a market.

Spread Betting Vs Futures Contracts: The major difference between these two is that the price of spread betting is determined by the brokers, whereas futures brokers remain impartial, the prices are set by the supply and demand of the users instead. Therefore, spread betting is created for private investors with smaller sums of money, and futures contracts are more suited for hedge funds with large resources.