Beginners Guide To Spread Betting
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Beginners Guide To Spread Betting
Spread betting offers excellent opportunities to make money, but there is also the risk of losing money
… you should approach spread betting as you would starting any business
… take advantage of free education to help you learn spread betting
Many spread betting firms offer multiple types of trading platforms
So, you want to know how to start spread betting?
As with most financial enterprises, it’s important to get off on the right foot. What’s that old adage? – “Well begun is half done.”
Before you actually start placing spread bets, there are a number of things that you can do to make yourself better prepared to be successful as a spread bettor right from the beginning – and hopefully generating profits rather than losing your money.
Spread betting is a financial enterprise.
Therefore, it only makes sense that, before entering into it, you should take the time to assess your individual circumstances and current financial situation in regard to how you can fit spread betting into your life, and do some real thinking about what you want to get out of spread betting.
Spread betting, just like any other type of trading in the financial markets, involves risk . Spread betting offers excellent opportunities to make money, but there is also the risk of losing money.
It’s recommended that you never spread bet with money that you can’t afford to lose. Therefore, one of the first things you need to determine before you start spread betting is: How much money do I have that I can afford to lose?
A more important question to ask yourself may be: How much money am I comfortable risking on spread betting?
Think about this in terms of both how much money you have right at the moment that you’re willing to risk and also in terms of how much money you expect to have that you’re willing to spread bet with each week, month, or year.
Regardless of whether you plan to just place a few, small spread bets each month or you aim to make spread betting your career, you should approach spread betting as you would starting any business. This goes right along with assessing your financial situation.
That’s okay, and it shouldn’t discourage you from pursuing a career as a spread bettor.
It just means that you probably want to do a bit of thinking about things such as:
By asking yourself those kinds of questions, you can begin to craft a business plan designed to take you from your current situation to the point where you can work full-time on operating your spread betting business.
Calculating how much money you want to be able to make from spread betting each week or month will help you figure out how much money you need to start spread betting.
Before you can start spread betting, you need to find a spread betting company to place your bets with.
Spread betting companies differ in a number of important ways, such as:
Before opening an account with a spread betting provider, if you’re from the EU at least, don’t forget basic issues such as checking to make sure that the company is authorised and regulated by the FCA (the Financial Conduct Authority) to offer spread betting services.
Also, check out what other kinds of services they offer besides just the ability to place a bet. For example, are they a good source of market news? Do they offer market analysis and commentary?
Before you start spread betting, take advantage of as much free education as you can find to help you learn the skills you need to trade. Then, if you want to make the commitment to develop further, consider taking a premium course, like our Trading for Beginners and Trading Foundations Programme .
Make sure you understand the subject thoroughly, including understanding how leverage can work both for you and against you, and the different types of orders that you can use in spread betting.
Before you start financial spread betting, you need to decide which financial markets you want to spread bet on.
Are you mostly interested in spread betting on the stock market, or are the commodity markets or the forex market more your style?
The price movements of different financial assets are driven by different factors. The factors that drive the prices of stocks are not usually the factors that drive major price changes in commodities or foreign exchange.
You are more likely to have success in spread betting if you focus your betting on just a few financial assets that you can develop expert knowledge of.
Before you ever place your first spread bet with real money, you should have a strategy in place that will guide your trading. It can be a strategy drawn from fundamental analysis or from technical analysis , but in either case, it should fulfil the following requirements:
It’s a good idea to always double-check before placing a bet to see if, in fact, the bet meets all of your betting strategies criteria. A common mistake of traders is to enter a trade that looks attractive, but that doesn’t really meet all the requirements of their chosen trading strategy.
Then, when the trade results in a loss, traders have the tendency to fault their trading strategy, when the fault was actually in failing to follow their strategy.
When you’re engaged in spread betting, you don’t want to be slowed down in taking action to either open or close a bet.
Study the betting platform thoroughly to make sure that you can smoothly and easily navigate your way around in it, bring up information that you need, and enter and exit your spread bets.
Many spread betting firms offer multiple types of trading platforms:
There are typically significant differences between the various platforms. Unless you know for a fact that you will only be using one platform all the time, it’s a good idea to familiarise yourself with all three.
What if, for example, you’re using the software trading platform, but it suddenly freezes up just when it’s urgent that you enter a new order? – In such a situation, you may need to utilise either the company’s web-based platform or enter a trade with your phone through a mobile app.
Practising with a demo account (virtually all financial trading firms provide these, free of charge) before you risk betting with real money can be one of the smartest moves you make as a beginning spread bettor.
Practising spread betting in a demo account can do much more for you than just giving you the opportunity to get comfortable with the whole process of spread betting.
It will help you monitor the markets, opening and closing spread bet positions, and managing your bets and making adjustments to orders.
Practising spread betting also gives you the opportunity to test out your betting strategy and perhaps make some adjustments to it.
You’ll also get a feel for what it’s like to actually have a position in the markets, even if it’s just with “play” money. This can help you avoid being overly nervous when you start placing spread bets for real money.
Spread betting offers the opportunity to make money even starting out with just a little bit of money.
But with potentially high rewards also comes high risk. You need to have an honest awareness of the risks involved in spread betting, such as the fact that since you’re trading with high amounts of leverage, you can potentially sustain a loss greater than your original investment.
Manage your risk exposure by deciding beforehand how much money you are willing to risk on any one spread bet. Set your leverage level in alignment with both your trading goals and your risk tolerance.
Know how to carefully manage your betting positions so that you don’t become financially over-committed to the point where you don’t have enough trading capital in your account to maintain whatever spread bets you have open at any given time.
Professional financial traders don’t jump up and down for joy every time they have a winning trade.
Nor do they become a bundle of nerves, start crying, or blaming everyone else whenever they experience a losing trade. Approaching the markets with a professional, objective, rational attitude – rather than being ruled by your emotions – is a critical part of being a profitable financial trader and learning to spread bet successfully.
You may want to take a look at books such as Jack Schwager’s “Market Wizards” series to get a clearer idea of the mindset that super-successful, professional traders have.
There are a lot of things that go into becoming a successful, consistently profitable spread bettor – things such as knowing your market, understanding how leveraged products work, using a solid trading plan, and managing risk.
Fortunately, you can get started doing the things you need to do to make money spread betting before you actually start placing spread bets and risking any real money.
The more work you put in before you enter the world of spread betting, the better prepared you’ll need to do when you do start spread betting for real.
Learn the skills needed to trade the markets on our Trading for Beginners course.
My Trading Skills® is a registered trademark and trading name of PMJ Publishing Limited. The material on this website is for general educational purposes only and users are bound by the sites terms and conditions. Any discussions held, views and opinions expressed and materials provided are for general information purposes and are not intended as investment advice or a solicitation to buy or sell financial securities. Any person acting on this information does so entirely at their own risk. Trading is high risk, it does not guarantee any return and losses can exceed deposits. My Trading Skills®, its employees and directors shall not be held responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein. Trading may not be suitable for you and you must therefore ensure you understand the risks and seek independent advice. The information on this site is not directed at residents of the United States or any particular country outside the UK and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when spread betting and/or trading 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.
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Do not trade with money that you cannot afford to lose.
Practise new strategies on a demo account first. This enables you to test your strategies on the price movement of indices, forex, cryptocurrencies, commodity market, shares and treasuries, without risking real money. However, remember that past performance is not an indicator of future performance.
Make sure that you understand the upside and downside risk of every trade. You may only need to deposit a small amount of margin to open a spread betting position but the potential gains and losses could be much greater. Remember, increased leverage means increased risk and you could lose more than your deposit.
To help manage your risk, we recommend using a stop-loss order , such as a trailing stop or guaranteed stop-loss order, to protect your trades.
Find out how to open a spread betting account and start trading with us. Learn about our account opening process, trading platform, funding your account and more. Not sure if spread betting is right for you? Visit our what is spread betting article.
If you're new to spread betting or CFD trading, a spread betting demo account is a great way to try your hand at the markets and test-drive our trading platform. There is no charge for opening a demo account and it can be set up instantly. Once you have familiarised yourself with our platform and are confident with how it works, you can apply for a live account.
Apply for a live account by completing our online application form. You can also apply for a live account directly from your iPhone , iPad or Android device.
Our online application form will only request the most relevant pieces of information and automatically try to verify your identity online using a third party system. If the verification is successful you will not need to provide any further documents to support your application and your account will be opened almost immediately.
If we are unable to automatically verify your identity, you will need to provide supporting documentation before we can open an account for you. You can provide copies of the following documents as proof of identity and address:
* Proof of identity: a valid passport or photocard driving licence (full, not provisional).
* Proof of address: a bank, building society or credit union statement showing your name, address and account number, a recent mortgage account statement, a local authority tax bill, a utility, telephone (landline) or broadband bill, received in the post and dated within the last three months. We cannot accept online statements.
Please note, we do not accept certificates of insurance or a copy of your TV licence, even if it is less than three months old.
Once you have completed an application (including providing supporting documentation, as necessary) and your account has been opened, you will receive a notification asking you to verify your account. You will then receive a welcome notification which will contain all of your account details. This will also provide you with useful information on how to access our trading platform so you can get started more easily. We also offer articles that can help you get started in trading assets, such as spread betting forex .
You are not required to make a minimum deposit in order to activate your live account, but you will not be able to place a trade until you have deposited some funds into your account.
You can fund your account via the 'payments' icon on our platform.
You'll find the 'payments' icon in the navigation bar located at the top of the platform. Click on the icon to transfer funds in and out of your account. You will need to enable 'pop-ups' so your browser allows the payments window to open.
To withdraw funds from your live account, simply click on the 'payments' icon on the platform, then click the 'withdrawals' tab. You can also contact the Client Management team on +44 (0) 203 003 8588, who will be happy to process the withdrawal for you.
There are no charges for funding or withdrawals when you use a UK debit card. Other methods of payment may have a fee associated with them and you should contact your card provider for more information.
Learn more about funding and withdrawing from our account support section .
Our wide range of videos offer platform guides and tours, plus features to help you get started and understand how to take full advantage of the platform's functionality and risk management features.
When you spread bet, you are taking a position on the real-time movement of a financial market. The markets can move quickly throughout the day, so the value of your spread bets and/or account can also change quickly. It is therefore important that you understand how to manage your risk .
We provide in-depth learning materials on how to use the risk-management tools available on our platform, to help you successfully manage and reduce the risks.
It is important to remember that the loss you could make on a bet may exceed the amount of margin that you used to enter into that bet. This is a feature of leverage ( margin trading ) and it means that you can lose more than your deposit.
The impact of any price movement on your account will partly depend on the size of your stake in the relevant product. A small movement in price may have a large impact on your account if you have a large stake in the relevant product.
Seamlessly open and close trades, track your progress and set up alerts
Spread betting is a form of derivative financial trading, where traders do not own the underlying assets they are trading on. Instead, you attempt to forecast whether an asset’s value will fall or rise. You gain profit for a correct speculation and lose capital for an incorrect speculation. To find out more, visit our ‘what is spread betting’ page.
Spread betting works by a trader speculating on whether they think the price of a financial instrument will rise or fall. You can go long and buy if you believe the price of an asset will go up. However, you can also go short and sell if you believe the market will take a downtrend. New to spread betting? Watch our intro video .
Spread betting and share dealing, what’s the difference?
There are many differences and some unique advantages to both spread betting and traditional share trading. Spread betting is a leveraged product which means that, unlike share dealing, you can gain exposure to a larger amount of trading capital with a smaller initial outlay. However, when you ‘share deal’ you own the underlying asset, which could provide some income benefits, such as those received from dividends. Read about the advantages of spread betting to discover if it is suitable for you.
On the CMC Markets spread betting platform, you can place all of the necessary steps to start trading, such as choosing from a variety of instruments, buying or selling via an order ticket, and implementing risk management conditions. To get started, open a demo account or live account and start trading.
Disclaimer: CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.
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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when spread betting and/or trading 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.
CMC Markets UK plc (173730) and CMC Spreadbet plc (170627) are authorised and regulated by the Financial Conduct Authority in the United Kingdom.
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