Best Spread Betting Brokers and Platforms UK (2026)
Reviewed by Phillip Ashdown, Senior Forex Analyst · Last updated · How we review
Quick answer
- Our top pick: Capital.com, for its trading analytics tools and four-platform access including TradingView and MT4, from a £20 minimum deposit. Review
- Lowest account costs: Spreadex, with a £5 minimum deposit, no inactivity fee and a 1.5% annualised overnight funding charge. Review
- Fixed spreads: Trade Nation, the only broker here with fixed spreads: 0.5 points on EUR/USD whatever the market conditions. Review
Spread betting lets UK residents speculate on the price movement of forex, indices, shares and commodities without owning the underlying asset, and profits are typically free from Capital Gains Tax and stamp duty (subject to individual circumstances). It's a distinctly British product: only FCA-regulated brokers can offer it to UK retail clients, and not every broker does. We compared seven FCA-regulated brokers that offer spread betting to UK retail clients on spreads, minimum deposit, platform choice and tax treatment. All seven also offer CFD trading from the same or a linked account.
How We Ranked These Brokers
- Cost: Spreads, commission, minimum deposit and overnight funding charges. Small differences compound quickly for anyone holding positions overnight or trading in size.
- Platform choice: Availability of a proprietary platform, MT4/MT5, cTrader and TradingView specifically for the spread betting account, not just the CFD account. Several UK brokers offer MetaTrader on CFDs only.
- Tax treatment & regulation: FCA authorisation is the floor. Spread betting profits are typically exempt from Capital Gains Tax and stamp duty for UK residents (subject to individual circumstances and current tax law).
- Risk management: Guaranteed stop-loss orders, negative balance protection and limited-risk account options. These matter more in leveraged products than in almost any other retail investment.
Our Top Picks
1. Best for Trading Analytics & Behavioural Insights — Capital.com
Capital.com's spread betting account features its AI Search tool, which uses generative AI to help traders find information about financial instruments, platform features, and to answer common questions. 4,500+ markets are available via its dedicated app, with a minimum deposit of £20. Traders can access four platforms: Capital.com's own web and app, TradingView and MT4. Spread betting has been available since May 2020, running the same variable-spread cost structure as the CFD account.
Good for
- AI Search, for answers to trading questions and information about platform features
- Four-platform access including TradingView, for a broker not otherwise on this list
- 100+ technical indicators and a wide range of additional charting tools
- Trading Analytics, to analyse patterns and data after every position
Keep in mind
- No MT5 or cTrader access for spread betting
- Variable spreads only, no fixed-spread option (see Trade Nation)
Visit Capital.com · Read full Capital.com review
65% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
2. Best for Low Account Costs — Spreadex
Spreadex has run spread betting since 1999 and has the lowest retail loss rate of the seven (61%), no inactivity fee, and the lowest published overnight funding charge in our comparison (1.5% annualised vs 2.5% at several competitors). Minimum deposit is £5, and spread betting and CFDs sit on one account.
Good for
- Lowest documented loss rate of the seven and no inactivity fee
- Swing/position traders holding overnight (funding cost advantage compounds)
- Low-cost entry: £5 minimum deposit, zero account fees
Keep in mind
- No MetaTrader (4 or 5) and no cTrader: TradingView is the only third-party platform
- Spreads mid-table on majors (matched by IG, undercut by Trade Nation)
Visit Spreadex · Read full Spreadex review
61% of retail investor accounts lose money when trading spread bets and CFDs with this provider. *Tax laws are subject to change and depend on individual circumstances. Tax law may differ in a jurisdiction other than the UK.
3. Best for Established Track Record — IG
IG has offered spread betting since 1974 through a dedicated FCA-regulated entity, IG Index Ltd (FRN 114059), separate from its CFD arm. Spreads start from 0.6 points on EUR/USD, commission-free, with TradingView and MT5 alongside IG's own platform.
Good for
- Brand longevity and a dedicated spread betting FCA licence
- TradingView and MT5 alongside a proprietary platform
- Beginners who value extensive education content (IG Academy)
Keep in mind
- £250 minimum first deposit if funding by card or PayPal (no set minimum via bank transfer)
- Guaranteed stops carry a premium rather than being free
Visit IG · Read full IG review
70% of retail investor accounts lose money when trading CFDs or Spread Bets with this provider. You should consider whether you can afford to take the high risk of losing your money.
4. Best for Platform Choice — Pepperstone
Pepperstone is the only broker in this comparison offering spread betting across its full platform range: proprietary web and app, MT4, MT5, cTrader and TradingView. Minimum deposit is £10, spread-only pricing, with a published average EUR/USD spread of 0.5 points in August 2026.
Good for
- Platform parity between spread betting and CFDs, including MT4/MT5 and cTrader
- Active traders who may want to move to a raw-spread CFD account later
- No inactivity fee
Keep in mind
- No Guaranteed Stop-Loss orders
- Higher published retail loss rate (73.6%) than Spreadex or IG
Visit Pepperstone · Read full Pepperstone review
73.6% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
5. Best for Client Fund Protection — ActivTrades
ActivTrades (ActivTrades PLC, FCA reference number 434413) has operated since 2001 and offers spread betting alongside CFD trading for UK clients. Its distinguishing feature is individual client fund insurance of up to £1,000,000, on top of FSCS protection. There is no minimum deposit and no commission on its standard pricing, and it offers its own ActivTrader platform and mobile apps alongside MT4, MT5 and TradingView.
Good for
- Extra protection: client fund insurance up to £1,000,000 beyond the FSCS
- No minimum deposit to open an account
- A long operating history (since 2001) with FCA authorisation
Keep in mind
- Spread betting spreads and platform support are not published separately, so confirm both before opening an account
- £10/month inactivity fee after 12 months
Visit ActivTrades · Read full ActivTrades review
69% of retail investor accounts lose money when trading CFDs with this provider.
6. Best for Free Risk Management — FxPro
FxPro is the only broker here running spread betting on its own dedicated platform, FxPro Edge, separate from its CFD platforms. Limited Risk Accounts are available at no extra cost: risk is capped at your initial deposit, the equivalent of a free guaranteed stop. Market access on FxPro Edge covers four asset classes (forex, indices, metals, energy).
Good for
- A genuinely free guaranteed-stop equivalent built into the account
- Comfortable with a dedicated spread betting platform rather than one shared with CFDs
- Established broker (27 years) with strong execution stats
Keep in mind
- Spread betting market access limited to four asset classes
- Specific spread betting pricing not publicly disclosed
Visit FxPro · Read full FxPro review
72.87% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider.
7. Best for Fixed, Predictable Spreads — Trade Nation
Trade Nation is the only broker here running a fixed-spread model: 0.5 points on EUR/USD, unaffected by market volatility or time of day. Minimum deposit is £0.01 via Apple Pay or Google Pay, with zero commission. Spread betting runs on TN Trader and TradingView (MT4 is CFD-only on Trade Nation).
Good for
- Knowing spread cost in advance regardless of market conditions
- Very low-barrier account opening
- Free deposits and withdrawals, with Trade Nation absorbing payment provider costs
Keep in mind
- No MT4/MT5 access for spread betting specifically (CFD account only)
- No ISA or Guaranteed Stop-Loss
- Inactivity fee terms are not published on Trade Nation's main pricing pages
Visit Trade Nation · Read full Trade Nation review
73.8% of retail investor accounts lose money when trading CFDs with this provider.
Spread Betting Brokers Compared
Key spread betting terms side by side. Figures refer to each broker's UK spread betting account where it differs from the CFD account.
| Broker | Min deposit | EUR/USD spread | Spread betting platforms | Guaranteed stops | Inactivity fee | Open an account |
|---|---|---|---|---|---|---|
| Capital.com | £20 | Variable (no published average) | Capital.com web and app, TradingView, MT4 | Yes, fee charged only if triggered | None listed | Visit Capital.com
65% of retail investor accounts lose money when trading spread bets and CFDs with this provider. |
| Spreadex | £5 | From 0.6 points, variable | Spreadex platform, TradingView | Yes | None | Visit Spreadex
61% of retail investor accounts lose money when trading spread bets and CFDs with this provider. *Tax laws are subject to change and depend on individual circumstances. Tax law may differ in a jurisdiction other than the UK. |
| IG | No set minimum by bank transfer (£250 by card) | From 0.6 points, variable | IG web and app, TradingView, MT5 | Yes, premium charged | None | Visit IG
70% of retail investor accounts lose money when trading CFDs or Spread Bets with this provider. You should consider whether you can afford to take the high risk of losing your money. |
| Pepperstone | £10 | 0.5 points average (Aug 2026), variable | Pepperstone platform, MT4, MT5, cTrader, TradingView | No | None | Visit Pepperstone
73.6% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. |
| ActivTrades | No minimum | Not published for spread betting | ActivTrader, MT4, MT5, TradingView (spread betting support per platform not published) | Not published | £10/month after 12 months inactive | Visit ActivTrades
69% of retail investor accounts lose money when trading CFDs with this provider. |
| FxPro | Not published for spread betting | Not published for spread betting | FxPro Edge (dedicated spread betting platform) | Free via Limited Risk Account | Not published | Visit FxPro
72.87% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider. |
| Trade Nation | £0.01 (Apple Pay or Google Pay) | 0.5 points, fixed | TN Trader, TradingView (MT4 is CFD only) | No | Not published | Visit Trade Nation
73.8% of retail investor accounts lose money when trading CFDs with this provider. |
Spreads are minimums or typical figures published by each broker and widen in volatile markets. Retail loss rates are each provider's latest FCA disclosure. Check terms directly with the broker before opening an account.
How Spread Betting Works
A spread bet is a bet on the direction of a market, sized in pounds per point of movement. You choose a stake, say £2 per point, and decide whether the price will rise (buy) or fall (sell). Every point the market moves in your favour earns your stake; every point it moves against you costs the same amount.
Worked example: the FTSE 100 is quoted at 8,000 and you buy at £2 per point. If it rises to 8,050, the 50-point move is worth 50 x £2 = £100 profit. If it falls to 7,950 instead, you lose £100. The broker's spread, the gap between its buy and sell price, is the main trading cost, and positions held past the daily cut-off also pay an overnight funding charge.
Spread bets are leveraged. You put up margin rather than the full value of the position. FCA rules cap retail leverage at 30:1 on major currency pairs (3.33% margin) and 20:1 on major indices (5% margin), so the £2 per point FTSE bet above, with a notional value of £16,000, needs about £800 of margin. Losses are calculated on the full position, not the margin, which is why they can mount quickly.
To work out a stake from the amount you want to risk, and the margin the bet needs, use the spread bet mode of our position size calculator. Our pip value calculator converts a stake per point into the equivalent CFD size.
How to Choose a Spread Betting Broker
The headline spread is only one line of the cost. These are the checks that separate the brokers in our table:
- FCA authorisation: Check the firm's reference number on the FCA Register and confirm the entity named in your account documents is the authorised UK entity.
- Spread betting on your platform: Many brokers offer MetaTrader for CFDs only. If you want MT4, MT5 or cTrader for spread betting, confirm the account type supports it (Pepperstone does; Trade Nation's MT4 is CFD only; Spreadex has no MetaTrader).
- Total cost, not just the spread: Overnight funding varies more than spreads do: Spreadex publishes 1.5% annualised against around 2.5% at several competitors, which matters if you hold positions for days or weeks.
- Guaranteed stops: A guaranteed stop closes your position at your chosen level even if the market gaps. Check whether it is free, charged as a premium, or not offered at all.
- Account fees: Inactivity fees range from none (IG, Spreadex, Pepperstone) to £10 a month after 12 months at some brokers. Read the fee schedule before funding.
- Minimum stake and deposit: Low minimums let you practise position sizing with small amounts. Most brokers here accept deposits of £20 or less.
Retail loss rates are useful context but not a ranking factor on their own: they reflect each broker's client mix as much as its pricing. Every broker on this page reports that a majority of retail accounts lose money.
Spread Betting Platforms and Apps Compared
Every broker on this page has its own web platform, and all except FxPro (which uses its dedicated FxPro Edge platform) also offer their own mobile app for spread betting. The bigger difference is third-party platforms: many brokers support MetaTrader or cTrader on their CFD accounts but not on spread betting accounts, so check the spread betting account specifically.
- TradingView: Available for spread betting at Capital.com, Spreadex, IG, Pepperstone and Trade Nation, so you can chart and place spread bets from the same screen.
- MT4: Pepperstone and Capital.com. Trade Nation's MT4 is for CFDs only, and Spreadex has no MetaTrader.
- MT5: Pepperstone and IG.
- cTrader: Pepperstone is the only broker in this comparison that supports spread betting on cTrader.
- Dedicated spread betting platform: FxPro runs spread betting on FxPro Edge, separate from its CFD platforms, with a free Limited Risk Account option.
- Not published: ActivTrades offers ActivTrader, MT4, MT5 and TradingView, but does not publish which of them support spread betting, so check with ActivTrades before choosing it for a specific platform.
If you mostly trade from your phone, the broker's own app matters most: open a demo account and test order entry, charts and alerts before funding. If you already use TradingView or MetaTrader, choose a broker that supports that platform on its spread betting account, not just for CFDs. Pepperstone covers the most platforms; Capital.com, IG, Spreadex and Trade Nation cover TradingView plus their own apps.
Which Markets and Forex Pairs Can You Spread Bet?
All seven brokers offer spread bets on forex, major stock indices and commodities, and most add individual shares. Forex coverage ranges from 32 pairs at Trade Nation to 60+ at Spreadex and 80+ at IG. FxPro is the narrowest: FxPro Edge covers four asset classes (forex, indices, metals and energy).
The seven major pairs (EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD, AUD/USD and NZD/USD) carry the tightest spreads and deepest liquidity. Minor pairs such as EUR/GBP and GBP/JPY cost a little more to trade, and exotic pairs involving currencies like the South African rand or Mexican peso can have spreads many times wider. FCA rules also set lower leverage on non-major pairs (20:1 instead of 30:1), so they need more margin per point.
Spread Betting Tax in the UK
For most UK residents, spread betting profits are exempt from Capital Gains Tax and there is no stamp duty, because HMRC treats spread bets as bets rather than investments (HMRC Capital Gains Manual, CG56105). CFD profits, by contrast, are subject to CGT.
The exemption cuts both ways: spread betting losses cannot be offset against other capital gains, whereas CFD losses can. Tax treatment depends on your individual circumstances and tax law can change. If trading forms a significant part of your income, speak to a qualified tax adviser before relying on the exemption.
Sources & Further Reading
Frequently Asked Questions
Is spread betting tax-free in the UK?
For most UK residents, profits from spread betting are exempt from Capital Gains Tax and stamp duty, because no asset is bought or sold; HMRC treats it similarly to gambling winnings rather than an investment gain (see HMRC's Capital Gains Manual, CG56105). This depends on your personal circumstances and current tax law, both of which can change.
What's the difference between spread betting and CFD trading?
Both let you speculate on price movements using leverage without owning the underlying asset, and both are typically commission-free with cost built into the spread. The main practical difference for UK residents is tax treatment: spread betting profits are typically exempt from CGT and stamp duty, while CFD profits are subject to CGT (losses can offset gains). Spread bets are also quoted per point in GBP, while CFDs trade in the underlying market's currency and contract size.
Which broker has the lowest spread betting spreads?
On EUR/USD, Trade Nation's fixed 0.5-point spread and Pepperstone's published 0.5-point average (August 2026, variable) are the tightest figures among the brokers compared here. Spreadex and IG quote from 0.6 points, variable. Which is cheaper in practice depends on the pair, when you trade and whether you value fixed or variable pricing.
Can I use MT4 for spread betting?
With some brokers. Among those compared here, Pepperstone offers spread betting on MT4 and MT5, Capital.com on MT4, and IG on MT5. Trade Nation's MT4 is for CFDs only, Spreadex has no MetaTrader, and FxPro runs spread betting on its own FxPro Edge platform.
What is the best spread betting platform in the UK?
It depends on how you trade. Of the FCA-regulated brokers compared here, Pepperstone supports spread betting on the widest range of platforms (its own platform and app, MT4, MT5, cTrader and TradingView). Capital.com offers its own web platform and app plus TradingView and MT4, and is our top pick overall. Spreadex suits traders who are happy with its own platform and TradingView, and Trade Nation suits those who want fixed spreads on TN Trader or TradingView.
What is the best spread betting app?
Capital.com, IG, Pepperstone, Spreadex and Trade Nation all offer their own mobile apps with spread betting, and most also connect to the TradingView app. The best choice depends on the markets, costs and features you need, so try each broker's demo account on your phone before opening a live account.
Can you spread bet on TradingView?
Yes, if your broker supports it. Among the brokers compared here, Capital.com, Spreadex, IG, Pepperstone and Trade Nation let you connect a spread betting account to TradingView and place spread bets from its charts. FxPro's spread betting runs on its own FxPro Edge platform instead.
Do I need a separate account for spread betting and CFDs?
Not usually. Spreadex runs spread betting and CFDs from a single account. IG operates its spread betting through a separate FCA-regulated entity (IG Index Ltd) rather than its CFD entity, though the client experience is unified. FxPro is the exception: spread betting runs on its own dedicated platform, FxPro Edge, separate from its CFD platforms.
Is spread betting regulated in the UK?
Yes. Spread betting can only be offered to UK retail clients by firms authorised by the Financial Conduct Authority. You can check a firm's authorisation on the FCA's Financial Services Register before opening an account.
What's the minimum deposit to start spread betting?
Among the brokers compared here, Trade Nation has the lowest practical minimum (£0.01 via Apple Pay or Google Pay), followed by Spreadex (£5) and Pepperstone (£10). IG sits higher by card (£250) though has no set minimum via bank transfer.
Can I lose more than I deposit spread betting?
It depends on the broker and account type. Standard FCA retail accounts include negative balance protection, meaning you cannot lose more than your account balance. FxPro's Limited Risk Accounts go further, capping risk at your initial deposit at no extra cost. Always check a broker's specific terms.
Full Risk Disclosures
Capital.com: Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% 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.
IG: Spread bets and 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 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.
Risk Warning: Spread betting and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 61% and 75% of retail investor accounts lose money when trading spread bets and CFDs with the providers compared on this page. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.