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

Within this article, we will provide you with the best 8 UK spread betting brokers and spread betting platforms to help you on your journey, whether you are a pro or a beginner.

List of the Best Spread Betting Brokers October 2024:

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

Comparison Chart of the Best Spread Betting Brokers for October 2024

Description of the Best UK Spread Betting Brokers for October 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 8 UK spread betting brokers:

Pepperstone is a leading global spread bet broker that offers spread betting on a wide range of markets, including forex, indices, shares, commodities, cryptocurrencies (professional clients only), and ETFs.

Pepperstone is one of very few brokers offering spreadbetting on the TradingView platform.

The broker is known for its 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. It offers 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.

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.

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.

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.

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. 

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.

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.

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.

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

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.

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