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Best Spread Betting Platforms and Brokers 2025

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Written By
Jemma Grist
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Written By
Jemma Grist
Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.
» Jemma Grist Profile Page
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Edited By
James Barra
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James Barra
James is an investment writer with a background in financial services. As a former management consultant, he has worked on major operational transformation programmes at prominent European banks. James authors, edits and fact-checks content for a series of investing websites.
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Fact Checked By
Michael MacKenzie
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Fact Checked By
Michael MacKenzie
Michael is a writer and editor with over a decade in journalism and publishing. His niche lies in editing and fact-checking content in the financial services sector, with a focus on online brokers and trading platforms. Michael previously reported on politics and economics in the Middle East and edits books for established publishers.
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Updated
Oct 4, 2024

Want to bet on the price movement of securities like shares in Apple without owning the asset? You can do this at a spread betting broker, where your profit or loss depends on how accurate you are and the size of your stake.

We’ve been testing the biggest names in the industry to find the best spread betting platforms in 2025. Use our guide to find the right broker for your needs, whether that’s trading tools, tradable assets or reliable support.

Best Spread Betting Brokers

Lots of spread betting firms impressed us during testing, but these 10 platforms are a cut above the rest:

Click a broker for details
  1. 1
    AvaTrade
    20% Welcome Bonus up to $10,000
    Ratings
    4.8 / 5
    4.3 / 5
    4.5 / 5
    3.8 / 5
    4.3 / 5
    4.3 / 5
    4.3 / 5
    4.5 / 5
    4.3 / 5
    4 / 5
    $100
    0.01 Lots
    1:30 (Retail) 1:400 (Pro)
    ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM, CIRO, AFM
    CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures
    WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
    Skrill, Wire Transfer, FasaPay, Mastercard, Perfect Money, Swift, MoneyGram, Credit Card, WebMoney, JCB Card, Debit Card, Neteller, Boleto
    USD, EUR, GBP, CAD, AUD
    Go To AvaTrade
  2. 2
    Pepperstone
    CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.8% of retail investor accounts lose money when trading CFDs.
    Ratings
    4.6 / 5
    4 / 5
    3.8 / 5
    4.4 / 5
    4.4 / 5
    4.6 / 5
    4.3 / 5
    4 / 5
    4.4 / 5
    4.1 / 5
    $0
    0.01 Lots
    1:30 (Retail), 1:500 (Pro)
    FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
    CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
    MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
    Visa, Mastercard, Credit Card, Debit Card, PayPal, Wire Transfer, POLi, UnionPay, BPAY, Neteller, Skrill, PIX Payment, Apple Pay, Google Wallet
    USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
    Go To Pepperstone
  3. 3
    Spreadex
    £300 cashback
    Ratings
    4 / 5
    3.8 / 5
    4.5 / 5
    4 / 5
    3.8 / 5
    4.3 / 5
    4.3 / 5
    4 / 5
    4.5 / 5
    4.5 / 5
    £0
    £0.01
    1:30
    FCA
    Forex, CFDs, Indices, Commodities, Stocks, Crypto, Bonds, Interest Rates, ETFs, Options, Spread Betting
    Spreadex Platform, TradingView
    Cheque, Wire Transfer, Debit Card, Credit Card, Mastercard, Visa
    USD, EUR, GBP, CAD, CHF
    Go To Spreadex
  4. 4
    Trade Nation
    200 Sign-Up Reward Points
    84% of retail investor accounts lose money when trading CFDs with this provider.
    Ratings
    4.3 / 5
    4.5 / 5
    3.5 / 5
    4.5 / 5
    4.3 / 5
    4.5 / 5
    3.8 / 5
    3.8 / 5
    4.1 / 5
    0 / 5
    $0
    0.1 Lots
    1:500 (entity dependent)
    FCA, ASIC, FSCA, SCB, FSA
    Forex, CFDs, Indices, Shares, Commodities, Futures, Bonds, Cryptos (Bahamas Entity Only)
    MT4
    Credit Card, Visa, Mastercard, Wire Transfer, Skrill, PayPal, Debit Card
    USD, EUR, GBP, AUD, ZAR, SEK, NOK, DKK
    Go To Trade Nation
  5. 5
    Vantage
    50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme
    Ratings
    4.6 / 5
    4.5 / 5
    4.5 / 5
    4.4 / 5
    4.3 / 5
    4.4 / 5
    4 / 5
    4 / 5
    3.6 / 5
    3.9 / 5
    $50
    0.01 Lots
    1:500
    FCA, ASIC, FSCA, VFSC
    CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds
    ProTrader, MT4, MT5, TradingView, DupliTrade
    Skrill, BPAY, JCB Card, AstroPay, Visa, Swift, Neteller, Wire Transfer, Credit Card, Debit Card, UnionPay, FasaPay, Sticpay, Bitwallet, Volet
    USD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN
    Go To Vantage
  6. 6
    FxPro
    Ratings
    4.4 / 5
    3.8 / 5
    4 / 5
    4 / 5
    4.3 / 5
    4 / 5
    4 / 5
    4 / 5
    4.7 / 5
    4.3 / 5
    $100
    0.01 Lots
    1:30 (Retail), 1:500 (Pro), 1:1000 (Via Prime Ash Capital Limited)
    FCA, CySEC, FSCA, SCB, FSA
    CFDs, Forex, Stocks, Indices, Commodities, Futures
    FxPro Edge, MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTrade
    Wire Transfer, Credit Card, PayPal, Skrill, Neteller, Maestro, Mastercard, Visa, Google Wallet, Bitcoin Payments, Ethereum Payments
    USD, EUR, GBP, AUD, JPY, ZAR, CHF, PLN
    Go To FxPro
  7. 7
    CMC Markets
    Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% 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.
    Ratings
    4.8 / 5
    4.5 / 5
    4.5 / 5
    4.3 / 5
    4 / 5
    4.5 / 5
    4.5 / 5
    4.3 / 5
    4.1 / 5
    3.7 / 5
    $0
    0.01 Lots
    1:30 (Retail), 1:500 (Pro)
    FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA
    CFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting
    Web, MT4
    Visa, Mastercard, Wire Transfer, Credit Card, Debit Card, PayPal
    USD, EUR, GBP, CAD, AUD, NZD, SEK, NOK, SGD, PLN
    Go To CMC Markets
  8. 8
    City Index
    Ratings
    4.2 / 5
    3.8 / 5
    4.5 / 5
    3.8 / 5
    4 / 5
    4 / 5
    4.3 / 5
    4.3 / 5
    3.8 / 5
    3.1 / 5
    $0
    0.01 Lots
    1:30 (Retail), 1:50 (Accredited Investor), 1:200 (Sophisticated Investor), 1:300 (Wholesale Investor), 1:400 (Professional Trader). Varies with jurisdiction.
    FCA, ASIC, CySEC, MAS
    CFDs, Forex, Stocks, Indices, Commodities, Crypto, Futures, Options, Bonds, Interest Rates,ETFs,Spread Betting
    Web Trader, MT4, TradingView, TradingCentral
    Wire Transfer, Mastercard, Credit Card, Debit Card, Visa, Maestro
    USD, EUR, GBP, AUD, PLN, CZK
    Go To City Index
  9. 9
    FXCM
    Ratings
    4.3 / 5
    3.8 / 5
    4 / 5
    3.5 / 5
    4 / 5
    4.3 / 5
    3.8 / 5
    3.5 / 5
    0 / 5
    0 / 5
    $50
    Variable
    1:30
    FCA, CySEC, ASIC, FSCA, BaFin, CIRO
    Forex, Stock CFDs, Commodities CFDs, Crypto CFDs
    Trading Station, MT4, TradingView
    Credit Card, Debit Card, PayPal, Apple Pay, Google Wallet, Wire Transfer
    USD, EUR, GBP, AUD
    Go To FXCM
  10. 10
    Axi
    72.4% of retail investor accounts lose money when trading CFDs with this provider
    Ratings
    3.8 / 5
    3.5 / 5
    3 / 5
    3.8 / 5
    3.5 / 5
    3.8 / 5
    3.5 / 5
    3.8 / 5
    3.6 / 5
    4.2 / 5
    $0
    0.01 Lots
    1:500
    FCA, ASIC, FMA, DFSA, SVGFSA
    CFDs, Forex, Stocks, Indices, Commodities, Crypto
    Axi Copy Trading, MT4, AutoChartist
    Neteller, Skrill, Credit Card, Debit Card, Visa, Mastercard, JCB Card, Wire Transfer, FasaPay, PIX Payment, Maestro, Boleto, Giropay, Sofort, POLi, BPAY, iDeal, Alipay, Airtel
    USD, EUR, GBP, CHF, PLN
    Go To Axi

Here is a summary of why we recommend these brokers:

  1. AvaTrade - AvaTrade is a first-rate spread betting platform with opportunities on 1000+ stocks, indices, commodities and currencies, sporting leverage up to 1:400. The MetaTrader platforms cater to seasoned traders with advanced charting tools and alerts, while the extensive Academy is home to terrific education with 18 courses, 150 lessons, 50 quizzes and a video tutorial explaining how to spread bet at AvaTrade.
  2. Pepperstone - Pepperstone offers a competitive range of 1200+ spread betting instruments covering forex, indices, commodities, shares and ETFs. Spreads are some of the most competitive that we’ve seen during tests, starting from 0.6 pips for EUR/USD. Spread betting is also available on the MT4, MT5, cTrader and TradingView terminals, offering more platform flexibility than most alternatives.
  3. Spreadex - Spreadex stands out as one of the few brokers that specializes in spread betting, offering 10,000+ instruments (rivalling top contenders like IG with 17,000+). There’s also valuable spread betting education covering strategies, tips and analysis. With user-friendly TradingView charts and advanced order types, both beginners and experienced spread betters are well catered to.
  4. Trade Nation - Trade Nation offers hundreds of instruments via spread bets, though this notably trails top alternatives like CMC Markets (12,000+) and Spreadex (10,000+). We found the TN Trader platform to be a standout option for beginners during tests, thanks to its straightforward fixed-spread model. That said, offering just one platform for spread betting makes the broker more restrictive than most competitors.
  5. Vantage - Vantage continues to offer commission-free spread betting on forex, indices and precious metals. With 15 indices, including less commonly offered instruments like the VIX and Bovespa, Vantage is particularly suited to experienced equities traders. It’s also one of the few brokers that offers an unlimited demo account, allowing you to practice your strategies continuously.
  6. FxPro - Spread betters can access six asset classes through the FxPro's proprietary spread betting platform, Edge. Whilst it’s a shame that Edge is the only available terminal for spread betting, traders can access 50 technical indicators (more than MT4), plus an economic calendar and price alerts, providing a decent all-in-one spread betting environment. Customer support also performed well during tests, connecting us to an agent instantly and responding to our spread betting queries sufficiently.
  7. CMC Markets - CMC Markets’ range of 12,000+ spread betting instruments surpasses most competitors, allowing you to speculate on forex, indices, commodities, shares, ETFs and treasuries. You can trade on both CMC Web or MT4, though we recommend the award-winning CMC terminal for a top-notch mobile and web trading experience - perfect for spread betters who prefer to trade on the go.
  8. City Index - City Index offers 8,500+ spread betting instruments on its award-winning web platform, including bonds, ETFs and interest rates. Spreads start from 0.2 pips on EUR/USD, positioning the broker ahead of top competitors like Pepperstone. With 16 chart types, over 80 technical indicators, and a performance analytics tool, City Index is a top pick for both beginners and experienced spread bettors.
  9. FXCM - UK traders can enjoy competitive stakes at FXCM from £0.07 per point. Spread betting is available on all available platforms, making it a flexible option for beginners. That said, getting reliable help may be a challenge - when tested, customer support was unhelpful, and we were frustrated that the agent required clarification when asked a straightforward spread betting query.
  10. Axi - Axi offers a compelling spread betting experience for residents in the UK and Ireland. Where it excels is its 24/5 support to help with any issues and smooth three-step process to spread betting trading on currencies, socks, indices and commodities.

Best Spread Betting Platforms and Brokers 2025 Comparison

Best Spread Betting Platforms and Brokers 2025 Comparison
Broker Overall Rating Trust Rating Accounts Rating Assets Rating Cost Rating Tools Rating Research Rating Education Rating Support Rating
AvaTrade logo
4.9 / 5 4.8 / 5 4.3 / 5 4.5 / 5 3.8 / 5 4.3 / 5 4.3 / 5 4.5 / 5 4.3 / 5
Pepperstone logo
4.8 / 5 4.6 / 5 4 / 5 3.8 / 5 4.4 / 5 4.4 / 5 4.3 / 5 4 / 5 4.6 / 5
Spreadex logo
3.5 / 5 4 / 5 3.8 / 5 4.5 / 5 4 / 5 3.8 / 5 4.3 / 5 4 / 5 4.3 / 5
Trade Nation logo
4.4 / 5 4.3 / 5 4.5 / 5 3.5 / 5 4.5 / 5 4.3 / 5 3.8 / 5 3.8 / 5 4.5 / 5
Vantage logo
4.7 / 5 4.6 / 5 4.5 / 5 4.5 / 5 4.4 / 5 4.3 / 5 4 / 5 4 / 5 4.4 / 5
FxPro logo
4.4 / 5 4.4 / 5 3.8 / 5 4 / 5 4 / 5 4.3 / 5 4 / 5 4 / 5 4 / 5
CMC Markets logo
4.7 / 5 4.8 / 5 4.5 / 5 4.5 / 5 4.3 / 5 4 / 5 4.5 / 5 4.3 / 5 4.5 / 5
City Index logo
4.4 / 5 4.2 / 5 3.8 / 5 4.5 / 5 3.8 / 5 4 / 5 4.3 / 5 4.3 / 5 4 / 5
FXCM logo
4 / 5 4.3 / 5 3.8 / 5 4 / 5 3.5 / 5 4 / 5 3.8 / 5 3.5 / 5 4.3 / 5
Axi logo
3.7 / 5 3.8 / 5 3.5 / 5 3 / 5 3.8 / 5 3.5 / 5 3.5 / 5 3.8 / 5 3.8 / 5

AvaTrade

"AvaTrade offers active traders everything they need: an intuitive WebTrader, powerful AvaProtect risk management, a smooth 5-minute sign-up process, and dependable support you can rely on in fast-moving markets."

Jemma Grist, Reviewer

AvaTrade Quick Facts

Bonus Offer20% Welcome Bonus up to $10,000
Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures
RegulatorASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM, CIRO, AFM
PlatformsWebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
Minimum Deposit$100
Minimum Trade0.01 Lots
Leverage1:30 (Retail) 1:400 (Pro)
Account CurrenciesUSD, EUR, GBP, CAD, AUD

Pros

  • Years on, AvaTrade remains one of the few brokers offering a bespoke risk management tool, AvaProtect, that insures losses up to $1M for a fee and is easy to activate on the platform.
  • AvaTrade continues to enhance its suite of products, recently through AvaFutures, providing an alternative vehicle to speculate on over 35 markets with low day trading margins.
  • Support at AvaTrade performed excellently during testing, with response times of 3 minutes and localized support in major trading jurisdictions, including the UK, Europe and the Middle East.

Cons

  • Although the deposit process itself is smooth, AvaTrade still doesn’t facilitate crypto payments, a feature increasingly offered by brokers like TopFX, which caters to crypto-focused traders.
  • The AvaSocial app is good but not great – the look and feel, plus the navigation between finding strategy providers and account management needs upgrading to rival category leaders like eToro.
  • While signing up is a breeze, AvaTrade lacks an ECN account like Pepperstone or IC Markets, which provides the raw spreads and ultra-fast execution many day traders are looking for.
Visit AvaTrade
AvaTrade Review

Pepperstone

"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."

Christian Harris, Reviewer

Pepperstone Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
RegulatorFCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
PlatformsMT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:30 (Retail), 1:500 (Pro)
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD

Pros

  • There’s support for a range of industry-leading charting platforms including MT4, MT5, TradingView, and cTrader, catering to various short-term trading styles, including algo trading.
  • Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing.
  • Pepperstone boasts impressive execution speeds, averaging around 30ms, facilitating fast order processing and execution that’s ideal for day trading.

Cons

  • Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers such as eToro, with no option to invest in real coins.
  • Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets, though it has introduced an intuitive copy trading app.
  • Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies.
Visit Pepperstone
Pepperstone Review

Spreadex

"Spreadex will appeal to UK day traders who are interested in both spread betting on financial markets and placing traditional bets on sports events. Fees are low on short trades and profits are tax-free on spread bets. There's also a powerful proprietary charting platform, plus £0 minimum deposit required to get started. "

Tobias Robinson, Reviewer

Spreadex Quick Facts

Bonus Offer£300 cashback
Demo AccountNo
InstrumentsForex, CFDs, Indices, Commodities, Stocks, Crypto, Bonds, Interest Rates, ETFs, Options, Spread Betting
RegulatorFCA
PlatformsSpreadex Platform, TradingView
Minimum Deposit£0
Minimum Trade£0.01
Leverage1:30
Account CurrenciesUSD, EUR, GBP, CAD, CHF

Pros

  • There are some attractive new account promotions, including double the odds and matched betting offers
  • A rare broker that provides access to lower market cap stocks traded on the AIM
  • Spreadex gives UK traders the opportunity to make tax-free profits through spread betting

Cons

  • No third-party e-wallets are accepted
  • The lack of a demo account will frustrate prospective clients who want to test Spreadex's services
  • The limited customer service can make it time-consuming to troubleshoot problems
Visit Spreadex
Spreadex Review

Trade Nation

"Trade Nation is a good choice for newer traders looking for a wide range of financial markets on a user-friendly platform. There is no minimum deposit, free funding options and strong education."

William Berg, Reviewer

Trade Nation Quick Facts

Bonus Offer200 Sign-Up Reward Points
Demo AccountYes
InstrumentsForex, CFDs, Indices, Shares, Commodities, Futures, Bonds, Cryptos (Bahamas Entity Only)
RegulatorFCA, ASIC, FSCA, SCB, FSA
PlatformsMT4
Minimum Deposit$0
Minimum Trade0.1 Lots
Leverage1:500 (entity dependent)
Account CurrenciesUSD, EUR, GBP, AUD, ZAR, SEK, NOK, DKK

Pros

  • Trade Nation is a multi-regulated and respected broker that previously operated as Core Spreads
  • Full range of investments via leveraged CFDs for long and short opportunities
  • A choice of trading platforms and apps, including MT4, make the brand a good fit for savvy traders

Cons

  • Fewer legal protections with offshore entity
Visit Trade Nation
Trade Nation Review

Vantage

"Vantage remains an excellent option for CFD traders seeking a tightly-regulated broker with access to the reliable MetaTrader platforms. The fast sign-up process and $50 minimum deposit make it very straightforward to start day trading quickly."

Jemma Grist, Reviewer

Vantage Quick Facts

Bonus Offer50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme
Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds
RegulatorFCA, ASIC, FSCA, VFSC
PlatformsProTrader, MT4, MT5, TradingView, DupliTrade
Minimum Deposit$50
Minimum Trade0.01 Lots
Leverage1:500
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN

Pros

  • There are no short-term strategy restrictions with hedging and scalping permitted
  • Vantage caters to hands-off investors with beginner-friendly social trading via ZuluTrade & Myfxbook
  • The broker has recently made efforts to expand its suite of CFDs providing further trading opportunities

Cons

  • A steep $10,000 deposit is needed for the best trading conditions, which include the $1.50 commission per side
  • It's a shame that some clients will need to register with the offshore entity, which offers less regulatory protection
  • The average execution speeds of 100ms to 250ms are slower than alternatives based on tests
Visit Vantage
Vantage Review

FxPro

"FxPro is a stellar option for day traders, sporting exceptionally fast execution speeds under 12ms, competitive fees that were lowered in 2022, and terrific charting platforms in MT4, MT5, cTrader and FxPro Edge."

Christian Harris, Reviewer

FxPro Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, Futures
RegulatorFCA, CySEC, FSCA, SCB, FSA
PlatformsFxPro Edge, MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTrade
Minimum Deposit$100
Minimum Trade0.01 Lots
Leverage1:30 (Retail), 1:500 (Pro), 1:1000 (Via Prime Ash Capital Limited)
Account CurrenciesUSD, EUR, GBP, AUD, JPY, ZAR, CHF, PLN

Pros

  • FxPro operates under a 'No Dealing Desk' (NDD) model, ensuring fast and transparent order execution, often under 12 milliseconds, ideal for short-term trading strategies.
  • FxPro's Wallet is a standout feature that allows traders to manage funds securely. By segregating unused funds from active trading accounts, the Wallet provides additional protection and convenience.
  • FxPro offers four reliable charting platforms, notably the intuitive FxPro Edge, with over 50 indicators, 7 chart types and 15 chart timeframes.

Cons

  • While FxPro provides 24/5 customer support through multiple channels that performed well during testing, it lacks 24/7 availability, which can disadvantage traders needing assistance outside traditional market hours.
  • There are no passive investment tools like copy trading or interest paid on cash. While active traders may not miss these, competitors like eToro catering to active and passive investors have more comprehensive offerings.
  • Despite a growing Knowledge Hub and a $10M funded demo account, FxPro is geared towards advanced traders, with beginners potentially finding the account and fee structure complex.
Visit FxPro
FxPro Review

CMC Markets

"With advanced charting tools and an extensive range of tradable CFDs, including an almost unrivalled selection of currencies and custom indices, CMC Markets provides a fantastic online platform for traders of all levels. "

Christian Harris, Reviewer

CMC Markets Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting
RegulatorFCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA
PlatformsWeb, MT4
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:30 (Retail), 1:500 (Pro)
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, SEK, NOK, SGD, PLN

Pros

  • CMC Markets is heavily regulated by reputable financial authorities and maintains its stellar reputation, helping to ensure a secure and trustworthy trading environment.
  • CMC offers excellent pricing, including tight spreads and low trading fees for all but stock CFDs. The Alpha and Price+ schemes also offer perks for active traders with up to 40% discounts on spreads.
  • The web platform delivers a fantastic user experience with advanced charting tools for day trading and customizable features, catering to both beginners and experienced traders. MT4 (but not MT5) is also supported.

Cons

  • An inactivity fee of $10 per month is applied after 12 months of inactivity, which may deter casual investors.
  • Trading stock CFDs incurs a relatively high commission, especially compared to the cheapest brokers like IC Markets.
  • The CMC Markets app offers the complete trading package but the design and user experience trails category leaders like eToro.
Visit CMC Markets
CMC Markets Review

City Index

"City Index is a great match for active traders, with ultra-fast execution speeds averaging 20ms, a highly customizable web platform featuring 90+ technical indicators, and some of the best education we’ve seen."

Christian Harris, Reviewer

City Index Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, Crypto, Futures, Options, Bonds, Interest Rates,ETFs,Spread Betting
RegulatorFCA, ASIC, CySEC, MAS
PlatformsWeb Trader, MT4, TradingView, TradingCentral
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:30 (Retail), 1:50 (Accredited Investor), 1:200 (Sophisticated Investor), 1:300 (Wholesale Investor), 1:400 (Professional Trader). Varies with jurisdiction.
Account CurrenciesUSD, EUR, GBP, AUD, PLN, CZK

Pros

  • City Index is regulated by top-tier authorities like the FCA (UK), ASIC (Australia), and MAS (Singapore), while its ownership by StoneX Group Inc., a listed company, further reinforces its credibility.
  • City Index boasts 13,500+ markets spanning forex, indices, shares, commodities, bonds, ETFs, and interest rates, with the platform's inclusion of niche markets like interest rates offering unique trading avenues not always found elsewhere.
  • City Index has made strides to enhance the trading experience, notably through its Performance Analytics in 2024 for insights into trades and discipline, plus an upgraded mobile app featuring in-built market research and news at a swipe.

Cons

  • While many brokers like eToro have expanded their crypto offerings, City Index only provides crypto CFDs, and the limited range may not satisfy traders looking for a broader selection of altcoins.
  • Unlike brokers such as AvaTrade and BlackBull, City Index does not provide passive investment opportunities like social copy trading, or real stock or ETF ownership, making it less appealing for hands-off trading.
  • City Index lacks an Islamic account with swap-free trading conditions, making the broker less appealing to Muslim traders compared to providers like Eightcap and Pepperstone.
Visit City Index
City Index Review

FXCM

"FXCM maintains its position as a top pick for traders deploying automated trading strategies, with four powerful platforms, strategy backtesting and algo trading through APIs. The broker is also great for active traders, with discounted spreads and low to zero commissions on popular assets."

William Berg, Reviewer

FXCM Quick Facts

Demo AccountYes
InstrumentsForex, Stock CFDs, Commodities CFDs, Crypto CFDs
RegulatorFCA, CySEC, ASIC, FSCA, BaFin, CIRO
PlatformsTrading Station, MT4, TradingView
Minimum Deposit$50
Minimum TradeVariable
Leverage1:30
Account CurrenciesUSD, EUR, GBP, AUD

Pros

  • The proprietary Trading Station terminal is a good choice for day traders looking for an all-in-one solution for their short-term and automated trading strategies
  • The broker offers spread discounts and other excellent perks for experienced traders in the Active Trader account
  • FXCM’s global reputation is impressive, with licenses from the FCA, ASIC, CySEC and FSCA and a 20-year business history

Cons

  • There is no choice of retail accounts for traders, nor any Cent/Micro account options
  • The live chat support can be slow and unreliable compared to the top competitors
  • Although FXCM continues to gear their services towards experienced traders, it’s a shame that there are no managed accounts on offer
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FXCM Review

Axi

"Axi is a stand-out option if you want to day trade forex on the MetaTrader 4 platform thanks to the broker’s growing selection of 70+ currency pairs, the MT4 NextGen upgrade, and tight spreads from just 0.2 pips if you opt for the Pro account."

Christian Harris, Reviewer

Axi Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, Crypto
RegulatorFCA, ASIC, FMA, DFSA, SVGFSA
PlatformsAxi Copy Trading, MT4, AutoChartist
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:500
Account CurrenciesUSD, EUR, GBP, CHF, PLN

Pros

  • The growing educational resources in the Axi Academy, including free eBooks, video tutorials and notably interactive quizzes, are excellent for supporting beginner traders.
  • Advanced traders can now sign up for the Axi Select funded trader program through the broker’s offshore entity, providing funding up to $1 million with a 90% profit share.
  • Axi's latest copy trading app is really intuitive based on our tests with useful filtering options to match strategies with individual risk preferences.

Cons

  • Axi still has our confidence but issues with the ASIC and FMA in recent years mean it needs to continue providing a secure environment while adhering to licensing conditions.
  • Axi is falling behind by only offering MT4 when many rivals now support MT5, cTrader, TradingView and proprietary software for a slicker experience with more advanced tools.
  • Despite performing well whenever we use it, Axi's support is unavailable 24/7, which can be inconvenient for traders in different time zones or those needing assistance outside standard trading hours.
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Axi Review

Methodology

We took our database of 216 brokers and trading platforms and pinpointed the 25+ that offer spread betting trading.

We then ranked the shortlisted brokers by their overall rating, which blends 100+ data entries with the direct observations of our testers following hours of hands-on evaluations.

  • We checked that every broker offers a spread betting account with an accessible deposit of <$250.
  • We only recommended brokers we’d trust with our own money after verifying their regulatory credentials.
  • We prioritized brokers with excellent spread betting fees after evaluating their spreads and other charges.
  • We confirmed brokers offer a range of financial markets, providing diverse trading opportunities.
  • We selected brokers with reliable support based on our spread betting inquiries during testing.
  • We investigated each broker’s order execution because fast speeds are key for successful spread betting.
  • We examined each broker’s margin requirements to ensure they are transparent for traders using leverage.

Infographic showing DayTrading.com spread betting platform testing methodology

How To Choose A Spread Betting Broker

Trust

Only use an established spread betting provider with many years in the industry and authorization from a ‘green tier’ regulator. This is the best way to protect yourself from trading scams.

This is key given that the UK’s Financial Ombudsman Service has highlighted the dubious practices adopted by some spread betting companies. In one case study, “Geraldine made significant losses on a spread-betting platform” that she thought was making money by referring clients to a workshop that taught useless strategies so they could profit from their users’ losing trades.

Spread betting is legal and regulated in several prominent countries, including Australia, Singapore, South Africa and Ireland. However, the largest market is in the UK, where the top providers are regulated by the Financial Conduct Authority (FCA) – a ‘green tier’ body.

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You can check whether a platform is licensed by the FCA by running its details through the Financial Services Register and then scrolling to ‘Activities and Services’ to confirm that it’s authorized for ‘Spread Bet’.
Pepperstone FCA license showing authorization for spread betting
Pepperstone – FCA License
  • Pepperstone has earned and maintained an excellent 4.6/5 Trust score owing to its authorization from four ‘green tier’ regulators and stellar reputation since 2010. It has also scooped our ‘Best Overall Broker’ and ‘Best Trading App’ awards in recent years.

Markets

Pick a broker that offers spread betting on the financial markets you’re interested in.

From our investigations, most platforms offer spread bets on stocks, indices, forex and commodities. However, some providers stand out by providing a much richer suite of trading opportunities, such as bonds, interest rates, and cryptos, that may appeal to seasoned traders.

  • IG blows the competition out of the water with over 17,000 markets you can spread bet on, from currencies, indices, and commodities to upcoming IPOs. It’s also one of the few brokers we’ve used that supports spread betting on the weekend via IG’s out-of-hours markets.

Fees

Choose a platform with low trading fees to help you towards a successful spread betting journey.

Unlike contracts for difference (CFDs), commissions are not typically charged on spread bets so the primary cost to consider is the spread – the difference between the bid and ask price. Spread betting companies normally incorporate a fee for their services into the spread.

Some companies specialize in certain markets with low prices. However, they will then offer other markets at less attractive prices, just to ensure they have a presence. Specific spread betting forex brokers, for example, may offer you a better deal than a jack of all trades, master of none firm.

Also, while less relevant for day traders, if you hold a spread bet open overnight you may incur a charge (futures can be more cost-effective for longer-term trades).

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Spread betting offers special tax advantages in the UK and Ireland where it’s exempt from capital gains tax and stamp duty.
  • Vantage stands out with excellent fees on spread betting markets during tests, including 0.1 on EUR/USD, 0.3 on oil and 3.1 on S&P 500, delivering a low-cost trading environment across a variety of asset classes. With no deposit, withdrawal or inactivity fees, it also keeps additional costs to an absolute minimum.

Tools

Choose a broker that offers reliable and powerful charting platforms. The best software will offer a wide range of tools for technical analysis, including various chart types, drawing tools and timeframes.

Some providers offer proprietary platforms with unique tools, notably IG’s Online Platform, CMC Markets’ Next Generation platform, and FXCM’s Trading Station.

Spread betting platform at FXCM showing EURUSD chart
FXCM – Web Platform

Alternatively, or additionally, brokers may offer third-party solutions which do not natively offer spread betting, but can support this style of trading. The most widely available platforms we see are TradingView, MetaTrader 4, MetaTrader 5 and cTrader.

I don’t think TradingView can be beaten when it comes to ease of use and features – it offers the complete trading experience in my view. It’s also being increasingly integrated by spread betting brokers, notably Pepperstone.
author image
Jemma Grist
Author
  • FXCM caters to all types of spread betters at every experience level with their wide range of platforms, including Trading Station, MT4 and TradingView. There’s also an unlimited number of demo accounts, which are a great place to start for all spread betters, so you can find the platform that ticks your boxes.

Execution Quality

Choose a broker with fast and reliable order execution – these are crucial for fast-paced trading styles like spread betting.

High-quality execution will help ensure your trades are executed at the requested time and price. In general, we view anything below 100 milliseconds (ms) as ‘fast’, but some trading platforms go much further.

  • FxPro is one of the fastest spread betting platforms that we’ve evaluated, with extremely impressive speeds of less than 11 ms. Prices are sourced from 12+ liquidity providers, making the firm an excellent choice for active spread betters looking for fast execution, tight spreads and reduced price slippage.

Margin Requirements

A key component of spread betting is leverage – which allows you to trade much larger positions by putting down a small outlay, known as ‘margin’.

It’s essential to choose a provider with transparent margin requirements so you understand how much capital you need to put down and maintain in your account, plus how much leverage (borrowed funds) you can access. For example, equities often require a 10% margin. So, if you’re a high-volume trader you’ll need significant capital.

Notable spread betting jurisdictions like the UK cap leverage to a maximum of 1:30.

This means that if I want to bet on EUR/USD with a margin of $250, my potential profits could be magnified to the value of $7,500 (30 x $250), less any fees.

Of course, my losses will also be magnified so risk management is essential, with tools like stop-loss and take-profit orders popular with spread bettors.

author image
Jemma Grist
Author
  • Trade Nation offers transparent leverage and margin depending on the entity you sign up with, with 1:30 available at the FCA and ASIC-regulated entities. Higher leverage of 1:500 is also available globally, though we don’t recommend high leverage for beginners.

Support

Access to convenient, prompt and dependable support is key when you’re using short-term trading products like spread betting. It’s also an important safety cushion for beginners who typically need more support getting started.

Most platforms provide assistance through live chat, telephone and email as standard, though the trend towards automated chatbots I’ve found extremely frustrating in recent years, sometimes hampering your ability to get urgent trading issues resolved quickly.

  • ThinkMarkets is one of the few brands that offer 24/7 assistance that’s performed excellently over the years, with response times of <5 minutes during testing and staff that are knowledgeable about spread betting products. Its trading simulator, Trading Gym, is also a superb tool for testing spread betting strategies.

FAQ

Which Is The Best Spread Betting Broker?

See our list of the best spread betting brokers to find the trading platform that best meets your individual needs.

IG, for example, is a stand-out option if you want to place spread bets on an extensive range of financial markets (17,000+), while FXCM is a fantastic option if you want a choice of intuitive, reliable platforms (Trading Station, MT4, TradingView).

Article Sources

The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com