Spread Betting Companies Uk Review

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Spread Betting Companies Uk Review
Best Spread Betting Platform UK FAQs

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Spread betting is a method to speculate on price movements in financial markets. But, before you can start spread betting, the first step is deciding which spread betting platform to use.
My in-depth guide will detail the features the best UK spread betting platforms, as well as tell you everything you need to know about how spread betting works.
Capital.com is a great trading platform if you want to try spread betting.
The broker is regulated in the UK by the Financial Conduct Authority (FCA) and offers access to more than 2,500 markets and products, which is a decent variety when compared to some of the other brokers on this list.
Like most spread betting brokers in the UK, the maximum leverage you can get is 30:1. This is due to the FCA’s leverage limit.
The platform’s fee structure is relatively cheap. Indeed, Capital.com is completely commission-free, and there are no inactivity fees.
It’s worth keeping in mind, though, that there are still trading fees built into the spreads when you make a spread bet.
Meanwhile, the minimum deposit amount is also relatively low, standing at £20 when you first open an account.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.61% of retail investor accounts lose money when trading spread bets and/or CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk.
City Index is another spread betting platform that offers access to a huge range of financial instruments. In fact, City Index allows traders to make spread bets on more than 8,500 markets and products.
Much like Capital.com , City Index is absolutely commission-free on spread bets, though you will still be charged a trading fee, which is built into the spreads.
Also, you may find that you are required to pay an overnight fee – which is essentially an interest adjustment that reflects the cost of keeping your trade open overnight – on any spread bets, though this can vary.
There is also an inactivity fee of $15 a month, though the good news is that this only kicks in after 24 months of inactivity.
However, you may find that the minimum deposit amount of $150 when you first open an account is fairly steep.
So, if you’re still a beginner and want to try spread betting with a smaller sum of money to start with, you may want to consider a broker with a lower minimum deposit.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CMC Markets is another FCA-regulated broker that offers a wide range of different trading tools, such as advanced charts and price alerts.
However, it’s worth noting that the fees may be slightly higher with CMC Markets than on other platforms.
Indeed, while there is no commission on this trading platform, you will typically be charged a trading fee that is built into the spread, as well as an overnight holding cost.
Also, there is an inactivity fee of £10 a month after just a year of inactivity, so make sure you keep your account active.
Even though CMC Markets does have a slightly higher fee structure than some of the others on this list, it does offer access to over 12,000 markets and products.
And, even better, there is no required minimum deposit amount when you first open an account, so it could be a good option if you just want to try your hand at spread betting as a beginner.
When it comes to spread betting brokers, IG is potentially one of the best ones available in the UK.
Indeed, the platform offers access to a staggering range of more than 17,000 different markets and products.
The trading costs on IG are relatively low, too – the trading platform is commission-free, and the only trading fees are those that are built into the spreads.
Also, there is no minimum deposit amount when you first open your account, and the inactivity fee is only £12 a month after two years of inactivity.
IG may also be great for beginners, as it offers a demo account for you to practise spread betting, and a wide range of different educational materials.
OvalX is another broker that allows you to make spread bets.
The broker offers access to over 5,000 markets and products, which is a relatively decent amount. And, like all of the brokers on this list, the maximum leverage retail investors can take advantage of is 30:1.
However, OvalX does have a slightly higher fee structure than other available options.
There is no commission on trades, but there are trading fees built into the spreads, and the inactivity fee is £25 a month after six months of inactivity.
So, if you use OvalX, it’s vital that you don’t let the inactivity fee kick in, as this is relatively steep.
You are also required to make a minimum deposit of £100 when you first open an account with OvalX, which may seem like quite a lot if you’re still a beginner.
FXCM is yet another good broker for making spread bets. One of the great things about this broker is its social investing service, which allows you to mirror other investors’ trades.
However, there is a far lower offering of markets and products on FXCM, with just over 290 available.
The good news is that there is no commission on trades made on FXCM, though there are trading fees built into the spreads.
Also, while the minimum deposit amount is slightly lower – $50 when you first open your account – there is an inactivity fee of $50 a month after one year of inactivity.
Much like the other brokers on this list, the maximum leverage for an individual investor is capped at 30:1.
Another FCA-regulated broker that offers access to spread betting is FxPro.
FxPro may be a good choice for beginners. This is because the broker offers a demo account where you can practise making spread bets, as well as lots of educational materials for you to build your spread betting knowledge.
There is also a relatively decent selection of markets and products on FxPro, with more than 1,800 on offer.
Also, there is no minimum deposit amount when you first open your account, making it good for those who just want to try their hand at spread betting. Even the inactivity fee is quite low on FxPro, as you will only be charged $5 a month after six months of inactivity.
However, there is a varied commission when you trade on FxPro that depends on the market or product you bet on. For example, you may find that you’ll end up paying more commission on FxPro when you make spread bets against forex currency pairs compared to stocks and shares .
And, much like other brokers, there are trading fees built into the spreads. You may also find that you could be charged an overnight holding fee on your spread bets.
Markets.com is another good spread betting broker, though you should note that the trading costs are relatively high.
Indeed, there is a commission involved when you try spread betting on Markets.com, as well as trading fees that are built into the spreads.
Non-trading fees are also higher on Markets.com – the inactivity fee is $10 a month after three months of inactivity, and you are required to deposit $250 when you first open an account.
Despite this, Markets.com does offer a decent selection of markets and products, with over 2,100 to choose from.
The broker even has a decent range of educational materials, with trading tips, webinars, and tutorial videos on offer.
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 trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the risk of losing your money.
Next, we have Pepperstone. This spread betting broker could be relatively good for beginners, as there is no minimum deposit and no inactivity fee.
And, even though there are varied commissions and trading fees built into the spreads, these are typically quite competitive spreads.
The spread betting broker has over 1,600 different markets and products on offer, and while this may be lacking when compared to some of the other brokers on this list, it may still be suitable.
Since Pepperstone is an FCA-regulated spread betting broker, the leverage is limited to 30:1 for individual traders, like many of the others in my guide.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts 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.
Finally, Spreadex could be another good choice as a spread betting broker. If you were looking for a broker with low non-trading fees, then Spreadex could be what you’re looking for.
Indeed, the broker has no minimum deposit requirements and no inactivity fees whatsoever.
However, you may find the trading costs to be slightly higher with Spreadex, as there is a varied commission on trades and a trading fee that, like the other brokers on this list, is built into the spread.
The broker does have a good range of markets and products, though, with over 3,300 for you to choose from.
You may also find the educational materials supplied by Spreadex to be slightly lacking, as it only has tutorials about how to use the platform itself.
Now that you know about some of the spread betting brokers available in the UK, you are probably wondering which one is best.
Ultimately, this all depends on your experience levels and your investment style.
For example, if you’re still a beginner, you may want to choose a trading platform with a good selection of educational materials for you to use, such as FxPro.
Or, if you don’t want to commit large sums of money and you just want to dabble in spread betting, a broker with low minimum deposit amounts may better suit you, like IG .
Of course, the number of trades you think you’ll make should also factor into your choice of a spread betting broker. If you’re planning on making large volumes of trades, a broker with zero commission may better suit you.
Now that you’ve read about some of the best spread betting brokers available to you, you’re most likely wondering how you can start spread betting in the first place.
Well, continue reading my comprehensive guide and follow these six easy steps to start financial spread betting now.
First things first, you need to open a spread betting account with a broker that allows you to spread bet.
Using my list above of some of the best spread betting brokers available, you should decide which broker best suits your needs.
For example, if you think you’ll be trading large volumes of spread bets, you may want to consider spread betting platforms with a low fee structure.
Or, if you wish to spread bet with smaller amounts of money, you may want to choose a broker that offers larger leverages.
And, of course, if you have a specific security you wish to open spread bets on, such as forex spread betting, you should ensure that your chosen broker offers access to these financial markets.
When you’ve decided on the best spread betting broker for you, you may need to supply them with any relevant information to prove your identity, perhaps a recent utility bill or personal details such as your National Insurance number.
After you’ve done all this, you should be able to open your spread betting account.
Now that you’ve opened your brokerage account, the next step is depositing money into your account.
This should be easy enough – simply choose how much money you wish to deposit and ensure it enters your account.
When you’re depositing money to your trading account, you may want to only deposit the amount of money you intend to invest.
This is because you are unlikely to earn interest on any uninvested money, and due to inflation, your savings’ purchasing power could be eroded in real terms.
The next step to spread betting is deciding what spread betting instruments you wish to trade.
You will have a wide variety of different financial markets and securities to spread bet on, the volatility of which may differ.
It may be worth spread betting in areas you’re more proficient in. For example, if you’re knowledgeable about tech stocks, you may want to spread bet on a tech company.
Or, if you regularly keep track of forex markets, you may want to spread bet on currency pairs.
Now, you’re finally ready to place an order.
Simply search for your chosen security, decide whether you want to open a short or long position, and select the size of your bet.
At this stage, you’ll have the choice of whether you’d like to trade using leverage. Find out more about what this means later in my guide.
Congratulations, you’re now a spread better! The hard work doesn’t stop here, though. Since many spread betting markets can be volatile, you may want to think about setting up stop loss limits to mitigate risk.
Stop loss limits are orders that will automatically close your position when it reaches a specific value. You can read more about stop loss limits later in my guide.
Even if you’ve set up stop loss limits, you should still continue to monitor any price movements that may occur.
When you feel as though you want to cut your losses, or are happy with your gains, you should close your position.
Spread betting is a form of derivative trading that involves “betting” on the price movement of a particular security over a certain period of time.
When you spread bet, you don’t actually purchase or own the underlying asset, you’re simply speculating on how the price of the asset will move.
One of the aspects of spread betting that makes it popular with investors is leverage. This is a ratio that your spread betting broker will offer you that allows you to open a larger position on a bet for less money upfront.
When you spread bet, you can decide to open a long position, where you predict that an asset will increase in value, or a short position, where you speculate that the asset will decrease in value.
Depending on how the value of the underlying asset moves ultimately dictates your spread betting gains, or indeed, losses.
So, let’s say you open a short position against Apple. You could stake £100 against every point of negative movement Apple’s share price makes. If Apple’s share price did indeed fall by two points, you would earn £200.
Conversely, if Apple’s share value increased by two points, you would instead lose £200.
As previously mentioned, leverage allows you to gain more market exposure to an underlying asset for less money.
These leverages are usually presented to you by your spread betting broker in the form of a ratio – these can range from 5:1 to 500:1.
Say your broker offered leverage of 5:1 on any spread bets you make. If you wanted to open a £100 position against Apple, it would only “cost” you £20. This initial deposit amount is called the “margin”.
This is part of the allure of spread betting – the leverage brings the potential for greater profits should your prediction come true.
However, it’s absolutely vital that you keep in mind that leverage is a double-edged sword; not only would any profits be magnified, but so would any losses.
This is because the total profits, or indeed losses, are based on the total value of the bet, not just the initial margin payment.
For example, say you opened a short position against Apple shares for £100, and the leverage on offer was 5:1 – meaning your margin payment was only £20.
If the value of Apple shares increased rather than decreased, you would lose the full £100 for every point of movement you bet on, rather than £20 for every point.
This is how you could end up losing far more money than you initially paid in, which makes spread betting particularly high risk.
It’s worth keeping in mind that FCA-regulated spread betting brokers will typically offer a maximum leverage of 30:1 to individual investors, as these are the regulator’s rules.
Meanwhile, many of these spread betting brokers will offer higher leverages to professional customers, sometimes as high as 500:1.
This is to protect less experienced traders from losing large sums of money due to leverage.
The spread, which, strangely, isn’t related to the “spread” in spread betting, is the difference between the buy and sell prices for a particular position.
These spreads are usually based on the market price of the underlying asset and are sometimes called the “offer and bid” price.
Typically, you will find that brokers will build the cost of a trade into these spreads, which is why it’s essential to understand your broker’s fee structure before you start trading.
Unfortunately, these spreads mean that you’ll typically be buying spread bets slightly above the market price, and you’ll be selling slightly below it.
Some brokers may offer more competitive spreads than others, so it’s worth checking the spreads they offer before you open an account with a specific trading platform.
Another aspect of spread betting that makes it quite popular with investors is the wide range of different financial markets and underlying assets you can open spread bets on.
As mentioned, you aren’t actually purchasing or owning a security when you spread bet, but simply speculating on the underlying asset. This allows you to access a wide range of markets, including:
Of course, the process of spread betting varies depending on the type of underlying asset you bet on in the first place.
For example, forex spread betting price movements may be based on currency spreads, while spread bets on commodities are typically based on the value of the commodity in question.
So, if you wanted to speculate on a particular market, such as forex spread betting, you should first ensure that your broker offers access to the market.
As spread betting is considered to be a form of gambling, this affects how spread bets are taxed.
Spread bets are entirely free from Capital Gains Tax (CGT) and Stamp Duty Land Tax (SDLT) in the UK. That means you don’t have to report any profits or losses to HMRC whatsoever.
Of course, if spread betting is your main source of income, you may face Income Tax.
As mentioned, most brokers will offer you leverage when you spread bet. While this can bring greater gains if your prediction is correct, it can also magnify your losses.
In fact, you could end up losing far more money than you initially paid in when you spread bet.
Many retail investor accounts in the UK have negative balance protection, meaning investors can’t lose amounts of money when trading which would bring them to a negative amount of money in their account.
However, it’s still essential to keep in mind that you could potentially lose all your invested money when financial spr
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