Spread Bet Reviews

Drawing on our experiences opening up spread betting accounts September 2024 spread data, and platform reviews, our spread betting platform assessments offer the latest ratings on the top FCA regulated brokers.

Written by Justin Grossbard

Edited by

Fact Checked by

Updated: 01/11/2024

What Changed?

Each month we update average spreads data published by the brokers the retail brokers lose %

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Best Spread Betting Platforms

Low Fee Spread Bet Providers

Best For Beginner Brokers

Best Demo Account

Best Trading Apps

Best Spread Betting Platforms

Spread bet brokers typically charge based on the spread, without additional commissions. These brokers aim to offer competitive spreads, often benefiting traders with lower overall costs. Top spread betting brokers provide fast execution and direct access to the market, ensuring tighter spreads and better liquidity.

Experienced UK spread bettors often prefer brokers with these features, as they allow for more efficient trading and greater market transparency.

Low Fee Brokers

About Low Fee Spread Bet Brokers

Low-fee spread betting brokers make their money primarily from the spread—the difference between the buy and sell price—without charging additional commissions. The spreads may vary based on the market being traded and the time of day, with more popular markets typically offering tighter spreads.

These brokers are often preferred by newer traders due to their straightforward fee structure, making it easier to calculate profits and losses. However, traders should be aware that overall costs can sometimes be higher than with commission-based alternatives

Spread Bet Brokers For Beginners

When starting out with spread betting, I’ve found that brokers offering fixed spreads are often the best option. With fixed spreads, you always know what fees to expect, making it easier to manage costs while learning. Many of these brokers also offer tools like guaranteed stop losses, which can be a real safety net.

While more experienced traders may look for tighter spreads and faster execution, I’d recommend fixed spread brokers for beginners due to their risk management tools and solid training resources.

Best Spread Bet Demo Accounts

We judge a good demo account by the amount of virtual funds and markets available, expiration date, and ease of opening. Not all brokers offer spread betting demo accounts so we shortlisted just those that do without the need to make a deport.

Best Spread Bet Apps

OANDA

Many spread bettors choose to trade on the go through their mobile devices. A web-based platform in these circumstances is unrealistic, so having an iOS or Android app is a must. We tested the apps of each platform to create our list of spread betting apps offered by each broker.

Who Are The Best Spread Bet Companies?

What makes a great spread betting company really depends on what matters most to you as a trader. Some may prioritise tight spreads or fast order execution, while others might look for lower fees or strong risk management features. On this page, I’ve broken down the top brokers into categories for easy comparison—whether you’re looking for low fees, fast execution, or beginner-friendly features, there’s a section tailored to your needs.

1. Best Spread Betting Brokers In UK – Pepperstone

Pepperstone was awarded the best broker in 2024 for spread betting based on their:

Lowest fees across markets from currencies, shares to precious metals like Gold
Multiple platforms from MetaTrader 4 (MT4) to TradingView
A wide range of markets from forex, shares and commodities to indices
Award-winning customer service

The broker is one of the forex brokers worldwide and since disrupting the spread betting market has rapidly gained market share. We compared all the brokers based on their execution speeds and found Pepperstone had the fastest-spread bet platform.

Final verdict: Pepperstone received the highest score of 98/100 with perfect scores for trading costs (spreads), platform performance and customer support. While the broker is relatively new to Spread Betting they have a worldwide footprint and can be trusted. The only slight markdown was that the broker didn’t offer some exotic markets and instruments.

Visit Pepperstone

75.3% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

Our Rating

The overall rating is based on review by our experts

Trading Costs

6.8 / 10

Trading Experience

9 / 10

Trading Platform

9 / 10

Trust

8.1 / 10

Range of Markets

8.5 / 10

Customer Service

10 / 10

2. Best For Financial & Sport Spread Betting – SpreadEX

We gave SpreadEX a score of 96/100 which was almost a tie with Pepperstone. As their name suggests, they primarily focus on spread bet and are the only broker to offer sports and financial spread betting. This means they offer the widest range of markets and offer competitive spreads and a favourable trading environment including an easy-to-use mobile app.

Final verdict: If you are considering both financial and sports betting then SpreadEx is the clear choice with the only all-in-one solution.

Visit Spreadex

64% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

3. Wide Range Of Markets – City Index

City Index is an excellent choice for spread bettors who want access to a wide range of markets. With over 4,500 instruments to trade, including indices, shares, commodities, bonds, and interest rates, City Index offers something for every trader. The broker provides competitive, commission-free spreads starting from 1.1 pips. It also delivers valuable features, such as built-in trading strategies, a wealth of market analysis, and a trading academy that caters to all skill levels.

Final verdict: With a vast market range, competitive spreads, and robust educational resources, City Index is ideal for UK spread bettors looking for a diverse and reliable trading experience.

Visit City Index

71% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

4. Best For Beginner Traders – OANDA

OANDA is an ideal option for beginners entering the spread betting market. The platform’s simple, no-commission structure makes trading easy to understand, with spreads starting from just 1.0 pips. Additionally, there’s no minimum deposit, which allows new traders to start small. OANDA’s demo account, along with its educational resources, offers a great way to practice and learn before diving in. With FCA regulation ensuring security and transparent fees, OANDA is a reliable and trusted choice for UK spread bettors.

Final verdict: OANDA’s simplicity, competitive spreads, and beginner-friendly features make it a perfect broker for those new to spread betting.

Visit OANDA

76.6% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

5. Most Trusted Spread Betting Provider – IG Markets

IG Markets is the largest and most trusted spread betting provider in the UK, with over 17,000 markets available. Established in 1974, it has built a reputation for offering excellent trading conditions, with spreads starting from 0.6 pips, no minimum deposit, and FCA regulation ensuring a secure trading environment. IG provides access to an extensive range of markets, including indices, shares, and commodities, all supported by robust trading platforms like MT4 and ProRealTime.

Final verdict: IG Markets is the go-to choice for UK spread bettors seeking reassurance with a trusted broker with market diversity.

Visit IG

70% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

How To Select The Right Spread Betting Broker

Choosing the right spread betting broker involves several key factors:

Fees: With spread betting, brokers make money from the spread—the difference between buy and sell prices. Compare spreads to ensure you get competitive pricing.
Platform: Look for a user-friendly platform that offers the tools you need. Many brokers offer industry-standard platforms like MT4 or proprietary options tailored to spread betting.
Regulation: Stick to FCA-regulated brokers for maximum security and transparency in the UK market.
Risk Management: Ensure your broker provides features like guaranteed stop-losses and negative balance protection to limit risks in volatile markets.
Market Range: Some brokers focus on specific markets, while others offer various options, from indices and commodities to shares.
Customer Support: Reliable, responsive customer service is key for handling any issues, especially for beginners.

Selecting a spread betting broker comes down to understanding your own needs. Consider fees, platform usability, and customer support as top priorities. Stick with trusted, FCA-regulated brokers for a safe and transparent experience.

Note: Trading 212, ETX Capital, OvalX, Markets.com and Admirals used to offer spread betting but now specialise in CFD and share trading products.

About the author:

Justin Grossbard

With a background in trading and investing that spans over 20 years, Justin co-founded Spread-Bet.co.uk. He has a Masters in Business and has contributed to leading finance sites including Forbes, Kiplinger to Finance Magnates.