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Thadeus Geodfrey is an experienced and celebrated writer and self-taught trader specialising in cryptocurrencies and forex. Market analysis, identifying fraudulent brokers, and security are his cup of tea. At BrokerRaters Thadeus develops educational materials and user-guides, offer market insights, ensures our content conforms to the best standards. Join Thadeus to succeed in your trading endeavours.
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Over the years, we have encountered and used countless spread betting brokers that accept Britons. Before gaining experience and becoming gurus in our field, we fell for many shoddy service providers. The issues that plagued our careers in those days were many and varied, from enormous financial losses to exorbitant fees and laughable customer support. We don’t want you to suffer the same fate, which is why we’ve prepared this guide.
In this guide, we’ve outlined and reviewed the best UK spread betting brokers. We cherry picked these service providers from the crowd, courtesy of their outstanding qualities, from proper licensing to friendly fees and spreads. Vet them carefully and pick one broker.
List of the Best Spread Betting Brokers
- Pepperstone – Overall Best Spread Betting Broker UK
- OANDA – Best UK Spread Betting Broker for Flexible Trading Options
- AvaTrade -Best Spread Betting Broker for Newbies in the UK
- FxPro – Best Spread Betting Broker UK for Advanced Trading Tools
- Spreadex – Best Broker for Integrated Trading and Betting
In This Guide
UK Spread Betting Brokers: Comparison Table
Our team compared hundreds of service providers while searching for the best spread betting brokers UK. While sifting through the boatload of brands that embrace Britons, we checked numerous aspects, starting with support for spread betting. Since this guide focuses on the best spread betting brokers, we weeded out providers that don’t offer this service. After many days of grueling work, we were left with a handful of spread betting brokers operating in the UK, which we evaluated extensively and compared with each other in order to find the best of the best.
While assessing and comparing UK spread betting brokers, we considered multiple factors, with licensing and regulation coming first. We only recommend multi-regulated service providers, so our experts eliminated brands not authorized or regulated by the FCA and other respected authorities. Rest assured that our chosen spread betting brokers have proper licensing and obey strict regulatory standards in the UK and other regions.
Besides regulation, we also used the factors outlined in the table below to compare UK spread betting brokers and identify top service providers.
| Best Spread Betting Broker UK | License & Regulation | Support Service | Software | Payment Method | Demo Account |
|---|---|---|---|---|---|
| Pepperstone | MiFID, FCA, ASIC, FSCA, DFSA, CySEC, CMA, SCB, BaFin | 24/7 | TradingView, MT4, MT5, cTrader, Pepperstone Trading Platform, Social trading | Visa, Mastercard, Bank transfer, Neteller, Skrill, PayPal | Yes |
| OANDA | FCA, ASIC, MAS, CFTC, PFSA, FSA, FSC BVI | 24/5 | OANDA Mobile, OANDA Web, MetaTrader 4, TradingView | Credit/debit cards, Bank transfer, Wire transfer, Skrill, Neteller | Yes |
| AvaTrade | FCA, ASIC, MAS, FSCA, CBI, CySEC, PFSA, B.V.I FSC, FSA, ADGM, ISA | 24/5 | WebTrader, AvaOptions, AvaTrade App, Mac Trading, MT4, MT5, Automated Trading | Credit/debit cards, Neteller, Skrill, Wire transfer, WebMoney | Yes |
| FxPro | FCA, CySEC, FSCA, SCB | 24/7 | FxPro Mobile App, MT4, MT5, cTrader, FxPro WebTrader | Credit/debit cards, Bank wire transfers, Neteller, Skrill, PayPal | Yes |
| Spreadex | FCA | 24/5 | Online platform, Mobile trading, Charting package, TradingView | Credit/debit cards, Apple Pay, Bank transfer | No |
Brokers Short Overview
In addition to the elements in the first table, we compared UK spread betting brokers’ fees and assets. At BrokerRaters, we are committed to ensuring our readers have access to competitive costs and a broad selection of assets. These elements are critical in fueling every spread bettor’s rise to the top and maximizing profit potential.
The comparison tables our gurus have included below contain the fees and assets of our top spread betting broker. Use them to aid your search for the most compatible service provider
Fees
| Best Spread Betting Broker UK | Minimum Deposit Requirement | Commission/ Spreads | Deposits/ Withdrawals | Inactivity Fee |
|---|---|---|---|---|
| Pepperstone | £0 | From 0.0 pips | Free | £0 |
| OANDA | £0 | From £0 | £20 withdrawal fee | £10 monthly |
| AvaTrade | £100 | From 0.13% | Free | £50 after every 3 consecutive months of inactivity |
| FxPro | £100 | £3.50 per lot | Free | £0 |
| Spreadex | £0 | From 0.6 points | Free | £0 |
Assets
| Best UK Spread Betting Broker | Stocks | Forex | Crypto | Commodities | Indices | ETFs | Options |
|---|---|---|---|---|---|---|---|
| Pepperstone | Yes | Yes | Yes | Yes | Yes | Yes | No |
| OANDA | Yes | Yes | Yes | Yes | Yes | Yes | No |
| AvaTrade | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| FxPro | Yes | Yes | Yes | Yes | Yes | Yes | No |
| Spreadex | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Our Expert Opinion about Spread Betting Brokers
The spread betting brokers we’ve reviewed in this guide are the best in the UK; that’s undisputed. But that’s a general statement. Each service provider has specific pronounced strengths that make them stand out. For example, AvaTrade has unmatched educational resources, while FxPro offers advanced trading tools to its users.
To help you pick the most fitting service provider, we’ve reviewed each of our top spread betting brokers below. Our experts have covered the most noteworthy aspects we discovered while evaluating these service providers, including their upsides and drawbacks.
1. Pepperstone – Overall Best Spread Betting Broker UK
A favorite for hundreds of thousands of people, Pepperstone is our top pick. This trusted broker has been up and running since 2010. It’s licensed and regulated by the FCA, ASIC, BaFin, and many other reputable oversight bodies. Open an account with it today, bet on the spread of assets like commodities and forex pairs, and rake in tax-free profits.
While spread betting with Pepperstone, you’ll get access to a variety of outstanding platforms, including MT4, MT5, TradingView, and cTrader. This unique offering is not supported by many of Pepperstone’s competitors. Moreover, as a spread bettor working with this broker’s platforms, you’ll enjoy all the perks that come with low latency and fast execution.
Regarding industry reputation, Pepperstone is one of the most respected and recognized service providers. The company has received a plethora of industry recognitions and awards over the years. For instance, in 2024, the ADVFN International Financial Awards recognized it as the service provider with the Best Spread Betting and CFD Education Tools.
Pepperstone’s product range has also made this broker incredibly popular in the UK and other regions. Most popular securities are available here, including 1,200+ CFDs on forex pairs, commodities, shares, ETFs, etc. Many of the products that Pepperstone offers have super-tight spreads and commissions. For instance, popular currency pairs GBP/USD, EUR/USD, and AUD/USD have low spreads starting from 0.0 pips.
This spread betting broker has no minimum deposit requirement, so you don’t have to worry about budget restrictions. Plus, as its user, you get to maximize returns with free deposits and withdrawals as well as zero account inactivity fees.
Pepperstone
✔24/7 support service
✔User-friendly and navigable platform
Pros & Cons
Fees
Trading Assets
Pros
- Licensed and regulated by multiple tier-1 authorities, including the FCA
- No minimum deposit requirement
- Users can bet on the spreads of forex, commodities, indices, and other securities
- Spread bettors have access to MT4, MT5, and other outstanding platforms
- Low spreads and commissions starting from 0.0 pips and 0.10%, respectively
- Pros can build custom indicators and automated trading bots
Cons
- Withdrawals can take up to 3 working days
- Most available assets are CFDs
We find Pepperstone broker to be one of the brokers with transparent fee structures. There are no hidden charges, so what you see displayed on its platform is what you will incur. This makes it easier for you to budget without worrying about overspending.
Let’s discover below some of the trading and non-trading charges at Pepperstone.
| Trading and Non-Trading Charges | Details |
|---|---|
| Account Opening | $0 |
| Management Fee | $0 |
| Minimum Deposit Requirement | From $0, depending on your jurisdiction |
| Commission | From $0.02 on US-listed shares |
| Spreads | From 0.0 pips on its Razor Account |
| Deposits and Withdrawals | Free |
| Inactivity | None |
| Overnight Funding | Varies based on global market conditions |
| Copy Trading | Free |
Note that Pepperstone charges both spreads and commissions. While spreads are charged on all accounts, commissions are only imposed on the Razor Account.
2. OANDA – Best UK Spread Betting Broker for Flexible Trading Options
OANDA is the most versatile and well-rounded broker we encountered during our exploration. We analyzed the service provider for hours and realized a few things. First, its users can take a tax-free position on diverse markets, from indices and forex to commodities, bonds, and metals. These come with competitive commissions and spreads. For instance, popular currency pairs have tight spreads from 0.6 pips.
We highly recommend OANDA to both high-budget and small-scale spread bettors and traders for a good reason. Unlike other service providers, OANDA doesn’t have fixed lots. On the contrary, its users can customize lot sizes to fit their budgetary limitations. Not to forget, this spread betting broker has no minimum deposit requirement.
OANDA integrates seamlessly with MT4 and TradingView. If you prefer trading with such platforms, sign up with this broker today. You’ll also get uncapped access to its powerful proprietary solutions, including OANDA Trade web and the OANDA trade app for mobile phones and tablets.
As a retail OANDA client, you can increase potential returns with leverages of up to 30:1, depending on your chosen instruments. You can also become a pro client, which comes with higher leverage of up to 100:1, access to a dedicated relationship manager, and other perks.
OANDA
✔Offers a negative balance protection
✔Customizable trading platform
Pros & Cons
Fees
Trading Assets
Pros
- Zero minimum deposit requirement
- Competitive spreads, commissions, and charges
- MT4, TradingView, and other powerful platforms are available
- Users can leverage fully automated trading
- Quality customer support service
Cons
- £10 monthly inactivity fee
- Higher withdrawal fees than its counterparts
OANDA broker has a clear fee structure with no hidden charges. This makes it easier for you to know how much you will be paying once you make a commitment. Some of the fees to incur at OANDA include the following:
| Trading and Non-Trading Charges | Details |
|---|---|
| Account Opening | $0 |
| Management Fee | $0 |
| Minimum Deposit Requirement | From $0, depending on your jurisdiction |
| Commission | From 0% on US-listed shares |
| Spreads | From 0.6 points |
| Deposits and Withdrawals | Free deposits. Withdrawal fees apply based on the payment method used |
| Inactivity | $10 after 12 months |
| Overnight Funding | Varies based on global market conditions |
| Currency Conversion Fee | Calculated by applying a 0.5% mark-up or mark-down |
3. AvaTrade – Best Spread Betting Broker for Newbies in the UK
AvaTrade’s dedication to helping newbies thrive in the tricky world of spread betting and trading is unparalleled. We have yet to find a service provider that pays closer attention to beginner-focused learning. Admittedly, most UK brokers provide learning materials to their users, but AvaTrade has gone above and beyond. How so?
First and foremost, this broker has a top-quality online academy filled with diverse materials. It’s dubbed Ava Academy and is free! If you are a novice, the academy should be your starting point. Sign up and get access to countless courses on different markets and assets, from forex and stocks to cryptocurrencies and commodities. AvaTrade has also provided hundreds of guides, quizzes, webinars, tutorials, and other educational materials.
AvaTrade’s users have access to diverse beginner-friendly platforms. The first one that our gurus tested and were impressed with is AvaTradeGo. This is a state-of-the-art dedicated mobile for IOS and Android users. It comes with a simplified interface and features that are easy to use. Use this app if you don’t want to get bogged down by unnecessary complications. Other platforms and software are accessible to AvaTrade users, from MT4 and MT5 to WebTrader and AvaOptions.
Now, let’s explore the highlights of spread betting with AvaTrade. Signing with this broker will put you in a position to bet on spreads and maximize potential returns with leverage of up to 400:1. You can also hedge against risk by trading forex, stocks, and other financial instruments.
AvaTrade
✔Regulated by FCA
✔The platform supports algorithmic trading
Pros & Cons
Fees
Trading Assets
Pros
- It has a free online academy with hundreds of learning materials
- Excellent, responsive support team
- Competitive spreads, commissions, and charges
- Multiple outstanding platforms, including MT4, MT5, and AvaTradeGo
- Supports algorithmic trading
- Zero currency conversion fees for spread bettors
Cons
- Inactive accounts incur a £50 fee every 3 months
- You need to deposit at least £2,000 to access DupliTrade’s top strategy providers
Our experts investigated the AvaTrade broker’s fees and charges. We first noticed that the platform has a modest minimum deposit requirement of $100. What’s more, its users pay no additional costs while depositing funds or cashing out. That makes AvaTrade an ideal broker for both cost-conscious and newbie traders who want to test their waters with small capital before going all in.
That said, AvaTrade requires dormant account holders to pay $50 after every 3 consecutive months of inactivity. Moreover, if you let your account remain inactive for over successive months of inactivity, the broker will charge you a $100 administration fee. Not to forget, AvaTrade requires traders who hold positions overnight to cover a premium.
Here’s a breakdown of the fees you should expect to encounter while trading with this service provider:
| Fees and Charges | Amount |
|---|---|
| Spreads | From 0.9 pips |
| Administration fee | $100 |
| Inactivity fee | $50 |
| Overnight premium | Yes |
4. FxPro – Best Spread Betting Broker UK for Advanced Trading Tools
After exploring, evaluating, and testing what FxPro offers, we highly recommend this broker to advanced traders for multiple reasons. To begin with, it offers a significant range of top-notch proprietary trading platforms. The first is the WebTrader, which boasts excellent features like detachable chart windows and allows users to access their FxPro MT4 and MT5 accounts conveniently.
FxPro extends its spread betting services to UK residents via its proprietary FxPro Edge spread betting platform. It’s fully customizable and tailored to give users the opportunity to trade hundreds of financial securities across six asset classes without worrying about taxes compromising returns. With FxPro Edge, you can create custom setups that will allow you to spread bet quickly or open positions directly from the ticker or charts.
If you encounter any issues while spread betting with FxPro, you can seek instant help from the broker’s team via the LiveChat feature. You can also request a call back; FxPro’s technicians will get back to you within a short while.
We can’t fail to mention FxPro’s Limited Risk Accounts. This account should be your go-to if you are risk-averse and would like to protect your capital. While spread betting with it, you’ll have peace of mind knowing you’ll never lose more than what you’ve deposited into your account.
FxPro
✔24/7 customer support
✔Thousands of financial instruments
Pros & Cons
Fees
Trading Assets
Pros
- Multiple advanced platforms, including MT4 and MT5
- Low latency and fast execution speed
- Spread bettors can reduce their exposure to losses with limited risk accounts
- A broad selection of securities for portfolio diversification
- Algorithmic and automated trading functionalities are available
Cons
- Limited learning materials for advanced traders
- Higher spreads and commissions than most of its peers
Admittedly, FxPro isn’t the cheapest broker today. The company requires first-time users to make a $100 initial deposit to use a standard account, which is reasonable but can’t be termed as the lowest threshold. Also, Raw+ account holders must make an initial deposit of $500 or more. Additionally, anyone interested in the company’s Elite account offering must be ready to meet the $30k minimum deposit mandate. Please review and understand FxPro minimum deposit requirements before registering a live account.
When it comes to spreads and commissions, FxPro has juicy offerings. Everyone who opts for Raw+ or Elite gets the opportunity to enjoy sharp spreads starting from 0 pips. The numbers are higher for Standard Account owners, with the lowest spreads starting from 1.2 pips.
We have some good news for those worried about transaction fees inflating costs. FxPro doesn’t charge additional deposit or withdrawal fees. However, you may have to cover charges inflicted by financial institutions, depending on your preferred funding method.
Here’s an overview of the FxPro broker fees and charges:
| Fees and Charges | Amount |
|---|---|
| Minimum deposit | $100 |
| Spreads | From 0 pips |
| Transaction fees | $0 |
| Currency conversion fee | Yes |
5. Spreadex – Best Broker for Integrated Trading and Betting
One crucial aspect makes Spreadex stand out from the rest of its peers: this broker offers financial trading and sports betting services. Let’s cover financial trading first. This broker allows its users to spread bet and trade CFDs on thousands of global markets, from forex, shares, and ETFs to commodities, options, and indices.
Besides providing CFD trading and spread betting services, Spreadex is also a sportsbook offering top odds on diverse global sports events, from handball and football to horse racing and F1. If you are a fan of both trading and sports betting, open an account with this service provider today.
Our experts spent ample time assessing and testing the Spreadex financial trading platform, which can be accessed via the web or using an Android or iOS mobile device. We found it incredibly fast and reliable. Plus, it’s fully customizable, which made our experience better. The platform’s users can trade CFDs and spread bets from one account, leverage advanced charting tools, and use live price alerts to make better decisions.
If you are an expert and wish to enjoy unique perks, Spreadex has something for you. This broker’s professional clients have the opportunity to enjoy everything from hospitality invitations to lower margins and more markets. But first, check if you meet the company’s eligibility requirements for professional clients.
Spreadex
✔Licensed and regulated by FCA
✔Zero account inactivity fees
Pros & Cons
Fees
Trading Assets
Pros
- Supports both financial trading and sports betting
- Offers thousands of financial instruments, including forex, commodities, and indices
- Traders can trade CFDs and spread bets from one account
- Users have access to myriad advanced charting tools
- Has robust order tools, from one-click dealing to guaranteed stops
- Users can harness TradingView’s supercharged analytical and charting tools
- No minimum deposit requirement
Cons
- A thin selection of educational resources
- Rigorous eligibility requirements for professional clients
Our experts evaluated Spreadex’s fees and have good reasons to consider it one of the most affordable brokers today. Several aspects caught our eyes from the get-go. For starters, the platform has zero minimum deposit requirement, free transactions, and no inactivity fees. We’ve summarized Spreadex’s fees in the table below.
| Description | Commission/Fee |
|---|---|
| Minimum deposit | $0 |
| Deposit fee | $0 |
| Withdrawal fee | $0 |
| Inactivity fee | $0 |
| Overnight fee | Yes |
Spread Betting in the UK
One of the most respected watchdogs in the world, the FCA, regulates spread betting in the UK. Therefore, you can safely assume this activity is legal in this region. Moreover, spread betting is tax-free for UK residents.
But can just about anyone bet on spreads in the UK? Not really. This venture is solely for UK residents aged 18 and older. Additionally, to engage in spread betting and profit, you must be knowledgeable and adhere to effective strategies, especially where risk management is involved.
What is Spread Betting Trading?
In spread betting, individuals bet on the price movements of different markets, from currencies and stocks to indices and commodities. As a spread bettor, you can bet on diverse markets’ price movements and earn handsomely without owning the underlying assets.
How does Spread Betting Trading Work?
Spread trading has multiple key features, ranging from leverage to profit and loss. To profit while betting on spreads, you must predict whether the price of a specific market will rise or fall. If things go in your favor, you profit, and vice versa. If you want to get started in spread betting, follow these steps:
Step 1: Find a spread betting broker
Step 2: Choose an asset
Step 3: Trade
Choose a spread betting broker that aligns with your needs and goals. Ensure you sign up with a regulated and reputable service provider. Finally, open and fund your spread betting account.
Assess available products and pick the right market to trade. Then, use fundamental and technical tools to learn more about your chosen asset and make informed decisions.
Take a position according to the insights you gather after extensive research and analysis. For instance, if signs indicate a particular asset’s price will increase, buy at the ask price and wait for things to go your way.
How to Choose the Best Spread Betting Broker UK
We’ve mentioned choosing the best spread betting broker several times. But saying it and doing the actual work are two different things. As a UK resident, many spread betting brokers are at your disposal.
But you can’t shut your eyes and play eenie, meeny when choosing a service provider to invest with. If you don’t do it cautiously, you might sign up with an inferior or straight-up fraudulent service provider. For your own good and to avoid detrimental consequences, choose the best spread betting broker UK based on the following:
Regulation and Security
Costs
Market Range
Trading Platforms
Reputation
The best UK spread betting brokers are regulated by the UK’s pride and joy, the FCA, as well as other international regulators, like the SEC and ASIC. They also use industry-leading tech and protocols to optimize security. Before using a platform, vet its regulatory status and security standards.
When searching for the best UK spread betting broker, please evaluate multiple service providers. Compare costs and prioritize affordability, but don’t focus on cheapness alone; just ensure your chosen service providers have competitive fees and offer premium services.
To rank among the best, a broker should offer a reasonable range of financial markets and instruments. Its users should also have access to many of the most popular markets, including forex, commodities, and shares.
In your quest for the best spread betting broker, assess the trading platforms provided. Scrutinize indispensable features like technical indicators, charting tools, and user-friendliness. Also, check the types of platforms that every broker offers, both proprietary and third-party.
Research every spread betting broker’s reputation. Popular independent sites, from Google Play to the App Store and Trustpilot, are at your disposal; use them. Use the ratings and testimonials on such platforms to measure reliability and trustworthiness.
Spread Betting Trading Risks for UK Traders
Spread betting is a high-risk endeavor. Before diving in, learn its risks; it’s the best way to prepare yourself and avoid ending up in a disastrous situation. Here are some of the risks of spread betting to get you started:
- Leverage risk: As a spread bettor, you can use leverage to access larger positions and increase potential gains. Sadly, leverage also magnifies losses and puts your capital at risk.
- Market volatility: Volatility is inherent in most financial markets. As such, while spread betting on different assets, sudden extreme price movements can slap you with enormous losses.
- Unlimited loss potential: Losses are often capped in conventional trading. But, while betting on spreads, you are exposed to unlimited losses that can even exceed your initial deposit.
Pros & Cons of Spread Betting Trading
Let’s close shop with an outline of the pros and cons of spread betting:
Pros & Cons
Pros
- Profits emanating from this activity are tax-free
- Bettors can increase returns with leverage
- Most spread betting brokers charge zero commissions
- Spread bettors can profit from both falling and rising markets
Cons
- Steep learning curve
- High potential for crippling losses
Don’t miss our other article featuring Penny Stock Brokers in the UK market.
Conclusion
You can choose a good spread betting broker and start your journey to earning handsome returns. However, if you are a novice, we strongly recommend starting with a demo account and practicing until you’re confident in your skills. Also, develop and stick to a specific, super-effective trading plan. Once you start trading, do all you can to control your emotions and avoid overtrading.
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