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Best Spread Betting Account UK 2021

If you’re looking to spread bet financial instruments on a tax-free basis – you’ll need to open an account with a top-rated broker. The best platforms in this space allow you to trade on a 0% commission basis, alongside leverage and other useful tools.

In this guide, we reveal the Best Spread Account UK in 2021 and walk you through the process of signing up.

Best Spread Betting Account UK List

If you want to start trading now with the best spread betting account UK providers – check out which platforms made the cut. We do, of course, review each spread betting account in full detail further down.

  1. Spreadex – Overall Best Spread Betting Account UK
  2. Pepperstone – Best Online Spread Betting Account for Experienced Traders
  3. IG – Trusted Spread Betting Account UK With Over 17,000 Spread Betting Markets
  4. ETX Capital – Tight Spreads and Low Betting Stakes
  5. Capital.com – Best Spread Betting Account for Beginners

Best Spread Betting Accounts UK Reviewed

In searching for the best spread betting account UK – we looked at a wide variety of factors. This centres on key metrics like fees and commissions, tradable spread betting markets, regulation, and user-friendliness.

With this in mind, below you will find a selection of the very best spread betting accounts UK for 2021.

1. Spreadex – Overall Best Spread Betting Account UK

spreadex reviewWe found that Spreadex ticks all of the right boxes and thus – is by far the best spread betting account UK. First and foremost, the platform covers traditional sports betting markets as well as financial instruments. Assuming you are interested in trading the latter – you will have access to thousands of markets.

For example, you can spread bet stocks and shares not only from the UK, but multiple international exchanges. This includes over 15 marketplaces from Europe, North America, Asia, and more. You can also trade ETFs and indices, with the latter offering spreads of just 0.6 pips per slide. If you’re interested in gaining exposure to the global commodity markets, Spreadex supports everything from Brent crude oil and natural gas to gold and corn.

SPREADEX review

The forex spread betting department at Spreadex is also highly rated, with dozens of major, minor, and exotic currency pairs supported. Other markets available include options, bonds, and interest rates. When it comes to fees, Spreadex operates a 0% commission policy. This means that you simply need to cover the spread itself to make a profit. In most cases, we found that the provider is very competitive in the spread department – meaning you will benefit from super-low fees across the board.

We also like the fact that there is no minimum deposit threshold at Spreadex – so you can get started with any amount that you like. The platform supports several convenient payment methods – including debit and credit cards. We should also mention that Spreadex offers leverage on all of its supported markets. You’ll get up to 1:30 when trading forex and less on other asset classes. Finally, Spreadex has been operational for over two decades and it is authorized and regulated by the FCA.

Pros:

  • Spread betting available on sporting markets
  • You can also spread bet shares, indices, bonds, forex, commodities, and more
  • No minimum deposit
  • No deposit fee
  • Access the trading suite online or via your phone

Cons:

  • Account opening process can be a bit slow

55% of retail investors lose money when trading spread bets and CFDs with this provider

2. Pepperstone – Best Online Spread Betting Account for Experienced Traders

pepperstone review

If you’re an experienced trader – then you will want access to a spread betting account that comes packed with advanced tools and features. This will allow you to deploy your spread betting strategies to the best of your abilities. We found that the best spread betting account UK for seasoned traders is that of Pepperstone.

Firstly, the broker allows you to access your spread betting account via three advanced platforms – MT4, MT5, and cTrader. If you’ve been in the trading arena for some time, then you will note all three of these third-party platforms come pre-loaded with technical indicators, chart drawing tools, and the ability to fully customize your trading screen.

pepperstone spread betting

In fact, you also have the option of installing an automated forex robot so that you can spread bet in a fully passive manner. Irrespective of what platform you opt for, Pepperstone gives you access to an abundance of spread betting instruments. This includes a plethora of indices, hard and soft commodities, currencies, and shares from a number of international exchanges. When it comes to fees, Pepperstone is another UK spread betting broker that does not charge any commission.

Once again, all fees are built into the spread. To give you an idea of how competitive it the platform is, you can spread bet EUR/USD from just 0.70 points and the S&P 500 index from just 0.4 points. You can open an account with Spreadex – which is authorized and regulated by the FCA, in minutes. There is no minimum deposit and you can choose from a debit/credit card or bank transfer. Finally, in addition to its spread betting offering, Pepperstone also offers CFD trading instruments.

Pros: 

  • Spread betting assets include forex, indices, and commodities
  • Very tight spreads – often hitting 0 on major FX pairs
  • Trade via MT4, MT5, or cTrader
  • Leverage and short-selling available
  • Also supports CFDs
  • Regulated by the FCA
  • Supports Visa, MasterCard, and bank transfers

Cons:

  • More suited for experienced traders

78.6% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

 

3. IG – Trusted Spread Betting Account UK With Over 17,000 Spread Betting Markets

Another spread betting account provider to consider is IG. Although the platform is super popular with those in the UK looking to buy shares – IG is also home to an extensive CFD trading and spread betting facility. In fact, the latter is home to over 17,000 markets – so you’ll never struggle to find suitable trading opportunities.

This includes thousands of stocks from a wide variety of markets. On top of equities listed on the LSE and AIM, you can also spread bet companies based in the US, South Africa, Australia, Japan, Germany, France, and more. Other popular spread betting markets at IG include forex, hard metals, energies, interest rates, indices, and ETFs.  All of the spread betting markets at IG can be accessed with leverage – so you’ll be able to boost your account balance by up to 1:30.

ig review

When it comes to fees, all spread betting markets attract a commission of 0% – apart from stocks. The latter comes with a variable commission that averages 0.10% on most UK and European markets. Other exchanges will attract different fees – so be sure to check this for yourself. You can open an account at IG by meeting a minimum deposit of £250. The broker – which has been operational since 1974, permits instant deposits via Visa and MasterCard.

Pros:

  • Trusted UK broker with a long-standing reputation
  • Leverage and short-selling also available
  • Spread betting and CFD products
  • More than 17,000 markets
  • Access to UK and international markets
  • Great research department

Cons:

  • Minimum deposit of £250
  • Credit card fees of 0.5%-1% apply

71% of retail investors lose money when trading CFDs at this site

 

4. ETX Capital – Tight Spreads and Low Betting Stakes 

etc capital review

Launched in 1965 – ETX Capital is one of the most trusted and established brokers in the UK. On top of CFD trading, the platform is also popular with those looking to access tax-free spread betting markets. Here, you’ll be able to trade over 5,000 financial instruments – which is inclusive of forex, indices, shares, and commodities. If you’re a professional client, you’ll also be able to spread betting cryptocurrencies.

When looking at the broker’s spreads, we found these to be super-competitive across most markets. For example, you can trade major indices from just 1 point and currencies from 0.6 pips. In addition to tight spreads, ETX Capital allows you to trade on a 0% commission basis. We also like the fact that minimum stake sizes are low. For example, this starts at 25p per point on major currencies and 50p per point on indices.

etx capital spread betting platform best mt4 brokers uk

We also found that ETX Capital is suitable for spread bettors of all skillsets. For example, if you’re a seasoned pro, you might elect to trade via MT4. Or, if you’re just starting out, you might prefer to use the broker’s native web-trading platform. Either way, you can open an account at ETX Capital in minutes and the platform supports Visa, MasterCard, Maestro, Skrill, and Neteller. Perhaps the main drawback with ETC Capital is that it requires a minimum first-time deposit of £100.

Pros:

  • More than 5,000 spread betting markets
  • 0% commission trades
  • Minimum stake just 25p per point
  • Spreads start from 0.6 pips
  • Founded back in 1965 and FCA-regulated
  • Leverage offered
  • Supports debit cards and e-wallets

Cons:

  • No traditional stocks and funds
  • £10 withdraw fee if cashing out less than £100
  • Minimum deposit just £100

74.5% of retail investor accounts lose money when trading CFDs with this provider.

 

5. Capital.com – Best Spread Betting Account for Beginners

Capital.comIf you’re attracted to the many benefits that spread betting offers – such as tax-free profits and leverage, but you’re still a newbie – then it might be worth considering Capital.com. This is because the provider is arguably the best spread betting account for beginners. In total, this top-rated broker offers more than 3,000 financial instruments.

This covers everything from currencies, ETFs, and indices to stocks, precious metals, and energies. Each and every spread betting market at Capital.com can be traded without you needing to pay any commission. Much like Spreadex, it’s only the spread that needs to be covered. There are no fees to deposit or withdraw funds – nor will you need to pay any stamp duty on UK-listed equity trades.

CAPITAL.COM spread betting

In terms of useability, there are several reasons why Capital.com is the best spread betting account UK for newbies. Firstly, you can open an account and start trading via the demo facility without needing to risk any money. This will replicate live market conditions – so it’s a great way to get to grips with spread betting as a beginner. The platform is also suitable for inexperienced traders as the minimum deposit is just £20.

This low minimum threshold is applicable to debit/credit card and e-wallet deposits only. If you elect to transfer funds from your UK bank account, the minimum goes up to £250. You will also find a wide range of educational and research materials at Capital.com – which covers everything from guides, videos, and market insights. The platform has a great reputation in the online trading scene and is fully licensed by the FCA.

Pros:

  • Bet on over 3,000 global markets, including stock, forex, and more
  • No commissions, inactivity fees, or deposit/withdrawal fees
  • Advanced trading platform with AI trade tracking software
  • Regulated by the FCA and offers negative balance protection
  • 24/7 customer service by phone, email, and live chat
  • Get started with just £20

Cons:

  • Price alerts are only available on mobile devices

75.26% of retail investor accounts lose money when trading CFDs with this provider.

Spread Betting Accounts Comparison

If you’re still unsure which platform is right for you and your financial goals – check out our spread betting account comparison table below.

Provider Spread Betting Fees Minimum Spread (Indices) Payments Demo Account Platforms
Spreadex 0% Commission All Markets From 0.6 Points Debit/Credit Cards, Bank Transfer Yes – Free
Web Trading, App
Capital.com 0% Commission All Markets From 0.7 Points Debit/Credit Cards, Bank Transfer, E-wallets Yes – Free
Web Trading, App, MT4
Pepperstone 0% Commission All Markets From 0.4 Points Debit/Credit Cards, Bank Transfer, E-wallets Yes – Free
MT4, MT5, cTrader
IG Stocks from 0.1%, All Other Markets at 0% From 0.1 Points Debit/Credit Cards, Bank Transfer Yes – Free
Web Trading, App, MT4
ETX Capital 0% Commission All Markets From 1 Point Debit/Credit Cards, Bank Transfer, E-wallets Yes – Free
Web Trading, App, MT4

 

How to Choose the Best Spread Betting Account UK for You

If you are still undecided as to which provider is right for you – we are now going to help you choose the best spread betting account UK for your needs. After all, no two platforms are the same – so it’s important to do a little bit of additional research prior to opening an account.

Regulation and Safety

The spread betting industry is heavily regulated in the UK – much like other investment sectors. As such, your first port of call should be to ensure that your chosen spread betting provider is both authorized and regulated by the Financial Conduct Authorty (FCA).

  • You might be surprised to learn that the Gambling Commission is not involved in the spread betting scene – even though capital gains are viewed as gambling winnings.
  • Nevertheless, you should also ensure that your chosen platform is covered by the Financial Services Compensation Scheme (FSCS).
  • In doing so, this ensures that your brokerage account balance is protected up to the first £85,000 – should the unthinkable happen and the spread betting platform goes bust.

Additionally, you should also explore how long the spread betting provider has been trading and what reviews and ratings are like in the public domain.

Assets

The best spread betting account UK providers will offer thousands of financial instruments on its platform. For example, Spreadex offers a highly diverse range of asset classes to ensure that traders of all shapes and sizes are covered.

spread betting markets

This includes everything from stocks and forex to commodities and indices. With that said, if you like to trade a specific financial market – such as the FTSE 100 index or USD/TRY,  make sure that the spread betting platform supports it.

Fees

When you buy shares in the traditional sense from a UK stock broker – you normally need to pay a flat dealing fee. However, when you trade financial instruments via a spread betting provider – the pricing structure will work in a different way. That is to say, the best spread betting accounts UK discussed today typically offer 0% commissions on all supported markets.

This means that the main trading fee that needs to be taken into account is the ‘spread’ itself. This is the gap between the long and short price of your chosen market. For example, the likes of Spreadex allow you to trade major indices from 0.6 points. This means that you need the value of your indices trade to increase by at least 0.6 points to make a profit.

In addition to spreads and commissions, you also need to look at overnight financing charges. This is a fee that is charged when you keep a spread betting position open for more than one day. This fee won’t be applicable if you opt for a daily funded betting market, but it will on its quarterly counterpart.

Trading Tools & Features

If you’ve got a particular trading tool in mind – be sure to check whether or not the spread betting provider offers it.

Some of the most notable features that we came across when searching for the best spread betting account UK are as follows:

Leverage

Leverage – which allows you to amplify the value of your trade, is offered by all of the spread betting account providers discussed on this page. In terms of limits, you won’t be able to get more than 1:30 at any of the platforms we have reviewed today. This is as per FCA regulations to protected retail investors.

spread betting leverage

We did, however, also come across platforms that do not offer leverage at all, so you should check this for yourself before opening an account.

Third-Party Platforms

If you’re relatively new to the spread betting arena, then you will likely be more comfortable trading via a basic web platform. This means that you can simply log in to your spread betting account and start trading via your browser. However, if you want access to more advanced charting tools – then it’s worth using a broker that is compatible with MT4, MT5, or cTrader.

Educational and Research Materials

Some of the best spread betting accounts UK that we came across offer an abundance of educational materials that can help you become a better all-round trader. For example, Spreadex is home to a number of blogs, guides, and explainers. In terms of research tools, you will also find live interviews, market updates, blogs, and an economic diary.

Bet Duration

Don’t forget to check what bet duration periods your chosen spread betting provider offers. For example, if you only have access to daily funded markets, this means that your position will be closed at the end of each trading day. This won’t be suitable for targeting longer-term trends.

On the other hand, if the broker also offers a quarterly bet duration, this means that you can keep your position open for up to three months. As such, this permits swing trading strategies.

Mobile App

Make no mistake about it – the best spread betting accounts in the UK offer a fully-fledged mobile trading app. This allows you to perform a number of key tasks while on the move – such as depositing/withdrawing funds, performing research, or checking the value of your trading portfolio.

And of course – by having access to a mobile app – you can enter and exit spread betting positions no matter where you are. If a spread betting app is offered, it is all but certain that this will be compatible with both iOS and Android devices.

User Experience

The best spread betting platforms will cater to both newbies and experienced pros. If you fall within the category of the former, then it’s important that the user experience is suitable for your skillset. In particular, the spread betting trading arena itself should be easy to use and free of unnecessary jargon.

spread betting brokers for beginners

This means that you should be able to find your chosen spread betting instrument with ease and be able to read the terms of the respective market without needing assistance. The process of placing a buy/sell, market/limits, and stop-loss/take-profit order should also be seamless – as should depositing and withdrawing funds.

Payments

If you want to spread bet financial instruments with real money – then you will need to add some capital to your brokerage account. The best spread betting providers in the UK support a range of everyday payments –  such as debit/credit cards and local bank transfers.

Some platforms will even support e-wallets like Paypal. Once you have established that your preferred payment type is supported, you also need to explore whether or not any deposit fees apply.

Customer Service

If you need assistance on your spread betting account – then you’ll want to be able to speak with a support agent in real-time. The best spread betting providers that we have discussed today not only offer telephone support – but a live chat facility. At the other end of the spectrum, we also came across platforms that only offer email support.

Best Spread Betting Demo Account

If you’re relatively new to spread betting – then it’s worth choosing a broker that offers a demo account. This will reflect real market conditions – meaning that you can learn the ins and outs of how spread betting works without needing to risk any money. Instead, the provider will give you an allocation of paper trading funds – which you can use as you please.

If you’re looking for a free spread betting demo account, Capital.com is worth considering. In order to gain access, you simply need to register an account. Alternatively, you might also consider using Pepperstone – should you wish to practice your spread betting endeavors via a third-party platform like MT4 or MT5.

How to Get Started with the Best Spread Betting Account UK

If you’ve read our guide up to this point and are ready to start spread betting financial instructions – we are now going to walk you through the set-up process with Spreadex. To recap – Spreadex is the best spread betting account UK, not least because you will have access to thousands of tax-free and 0% commission markets in a safe and regulated environment.

Step 1: Open a Spreadex Account

The first step is to visit the Spreadex website and click on the ‘Create an Account; button. You will then be required to complete an online application form by entering your personal information and contact details.

how to Open a Spreadex Account

This is the same process as any other regulated spread betting provider. You will also need to choose a username and password – which will be required on each occasion that you log in to your account.

Step 2: Account Verification

Once you submit your account application form, the Spreadex system will perform checks with third-party sources with the view of automatically verifying your identity. However, if it is unable to do this, you will receive an email asking for some documents. This is usually just a copy of your passport or driver’s license and a proof of address.

Step 3: Deposit Funds

Once your account has been verified by Spreadex, you can log in with your username and password. Then, you can proceed to make a deposit. As we covered earlier, there is no minimum deposit at Spreadex and you can instantly fund your account with a debit or credit card. Cheques and bank transfers are also an option, but this will delay the deposit process by a number of days.

Step 4: Search for Spread Betting Market

If your account is funded you can now search for the spread betting market that interests you. Spreadex makes this part of the process easy as it offers a search box facility. As such, all you need to do is enter the name of the financial instrument you wish to trade.

Don’t forget – Spreadex offers both daily and quarterly markets. As such, it’s important that you select the correct trade duration for your preferred strategy.

Step 5: Place Spread Betting Trade 

The final step at Spreadex is to place a spread betting trade.

First, you need to determine whether you think the price of the financial instrument that you are trading will rise or fall. If you think it is will rise you will need to select a ‘Buy Order’. If you think the asset will fall in value, select a ‘Sell Order’.

how to use spreadex

You then need to enter your stake per point – and if you want to apply leverage, select your multiple. For risk-management purposes, it’s also a wise idea to set up a stop-loss and take-profit order.

Finally, when you are happy with all of the information you have entered – confirm the order.

Spreadex – Best Spread Betting Account UK with 0% Commission

This guide has reviewed the best spread betting accounts available in the UK. We noted that the best providers will offer access to thousands of financial instruments across stocks, forex, indices, commodities, and more. You should also look for platforms that offer competitive fees and tight spreads, as well as support for your preferred payment methods.

In conclusion, we found that Spreadex is the overall best spread betting account UK – not least because it meets the criteria mentioned above. The platform is authorized and regulated by FCA and covered by the FSCS. Getting started is super straightforward and there is no minimum deposit requirement!

 

spreadex review

55% of retail investors lose money when trading spread bets and CFDs with this provider

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About Kane Pepi PRO INVESTOR

Kane Pepi is a British researcher and writer that specializes in finance, financial crime, and blockchain technology. Now based in Malta, Kane writes for a number of platforms in the online domain. In particular, Kane is skilled at explaining complex financial subjects in a user-friendly manner. Academically, Kane holds a Bachelor’s Degree in Finance, a Master’s Degree in Financial Crime, and he is currently engaged in a Doctorate Degree researching the money laundering threats of the blockchain economy. Kane is also behind peer-reviewed publications - which includes an in-depth study into the relationship between money laundering and UK bookmakers. You will also find Kane’s material at websites such as MoneyCheck, the Motley Fool, InsideBitcoins, Blockonomi, Learnbonds, and the Malta Association of Compliance Officers.

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