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Which spread betting broker is best in the UK? (November 2026)
By the Economies.com editorial desk · Spread betting, United Kingdom · Last verified 23 October 2026 against pepperstone.com/en-gb, Pepperstone Limited’s UK legal documents and competitors’ own UK sites. Pepperstone average spreads are its published data for 1–31 August 2026.
The short answer
For most UK spread bettors who trade FX, gold and the big indices, Pepperstone is our pick: published August 2026 spread-bet averages of 0.5 points on EUR/USD and 0.9 on GBP/USD, a 1-point minimum on the FTSE 100, no commission, and spread betting on MT4, MT5, cTrader, TradingView and its own app. Two gaps to know: Pepperstone sells no guaranteed stops and no weekend markets — IG covers both.
- Pepperstone Limited, FCA FRN 684312; voted Best Broker in Spread Betting at the Compare Forex Broker Awards 2026, per its site.
- 1,432 spread-bet markets: 91 FX pairs, 26 indices, 40 commodities, 1,162 shares and 95 ETFs.
- Stakes are in pounds per point; profits are currently exempt from UK capital gains tax and stamp duty, depending on your circumstances.
- 73.6% of Pepperstone’s retail accounts lose money on spread bets and CFDs.
Our #2 pick for spread betting: Capital.com
Capital.com offers UK spread betting on 5,000+ markets with no commission and guaranteed stops; it says profits are currently free of capital gains tax and stamp duty for UK residents, though tax treatment depends on your circumstances and can change. Clients here deal with Capital Com (UK) Limited, authorised by the FCA (793714).
- FCA-regulated, with FSCS cover up to £85,000 and negative balance protection for retail clients.
- No commission on CFDs or spread bets; guaranteed stops are available and charged only if triggered.
- Platforms: its own app and web platform, TradingView, MT4 and an API (MT5 is not offered in the UK).
- Minimum deposit £20; no deposit, withdrawal or inactivity fees.
Full comparison: Best Spread Betting Brokers 2026.
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 (Capital Com (UK) Limited, FCA 793714). 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.
Which spread betting broker is best in the UK?
Spread betting is a UK and Irish product, so the field is narrow: IG, CMC Markets, Spreadex, City Index, Capital.com and Pepperstone are the main FCA-regulated providers. Trading 212, Plus500, XTB and eToro offer CFDs but no spread betting on their UK sites. We rank Pepperstone first on cost transparency and platform choice, IG first on features. Here is the comparison from each firm’s own site:
| Provider | EUR/USD | FTSE 100 | Guaranteed stop | Weekend markets |
|---|---|---|---|---|
| Pepperstone | 0.5 avg (Aug 2026) | 1 min | No | No |
| IG | 0.6 min | 1 min | Yes, charged if triggered | Yes |
| Spreadex | 0.6 min | 1 min (CFD) | Yes, e.g. 1.5 pts UK 100 | Not published |
| CMC Markets | From 0.5 on majors | 0.5 (promo to 13 Nov 2026) | Yes, premium refunded if not hit | Not published |
| City Index | Not readable on site | Not readable on site | Yes, charged on trigger | Not published |
| Capital.com | Not readable on site | Not readable on site | Yes, charged if triggered | Not published |
Compare the top UK spread betting brokers on cost and reliability
On cost, Pepperstone is the only provider whose spread-bet averages are published and dated; on EUR/USD it averaged 0.5 points against IG’s and Spreadex’s 0.6-point minimums. CMC’s temporary 0.5-point UK 100 spread beats everyone on the FTSE until 13 November 2026. On reliability, nobody publishes downtime; Pepperstone states a 99.32% fill rate for the first quarter of 2026. IG and CMC are listed companies whose accounts are public.
How do I choose a spread betting broker in the UK?
Check five things in this order: the firm’s FCA number on the Register; whether it sells guaranteed stops if you need them; the dated average spread on the markets you will actually trade; the overnight financing formula; and the platform. Pepperstone passes on four of five; it fails on guaranteed stops.
Which spread betting brokers charge no commission?
All of them on FX, indices and commodities: spread betting is priced through the spread. At Pepperstone even share spread bets carry no commission, with a minimum spread of 0.1% on UK, European and Hong Kong shares and 4 points on US shares. IG charges 0.10% minimum spread on UK and US share bets; City Index 10 basis points each side on non-US shares and 1.5 cents on US shares.
Which spread betting broker has the lowest spread on the FTSE 100?
Right now CMC Markets, at 0.5 points on the UK 100 until 13 November 2026, when it reverts to 1 point. Pepperstone, IG and Spreadex all quote a 1-point minimum on their spread-bet or cash FTSE. Pepperstone’s FTSE forward has a 3-point minimum.
Which spread betting broker has the lowest spread on EUR/USD?
Pepperstone, with a published 0.5-point minimum and 0.5-point average on EUR/USD spread bets for August 2026. IG and Spreadex both start from 0.6 points.
What is the difference between spread betting and CFD trading?
Both let you go long or short with leverage and both carry the same FCA leverage caps and negative balance protection. The difference is how the trade is expressed and taxed. A spread bet is a stake in pounds per point; a CFD is a number of contracts or units in the market’s own currency. Under current UK rules spread betting profits are exempt from capital gains tax and stamp duty; CFD profits are subject to CGT, and CFD losses can be offset against gains.
| Spread bet | CFD | |
|---|---|---|
| Size | £ per point | Lots or units |
| Currency | Always GBP | Market currency (converted) |
| UK capital gains tax | Exempt under current rules | Payable; losses offsettable |
| Commission at Pepperstone | None, even on shares | Razor £2.25/side FX; shares 0.10% UK |
| Platforms at Pepperstone | App, web, MT4, MT5, cTrader, TradingView | Same (MT4 and TradingView Razor-only) |
Is spread betting tax free in the UK?
Under current HMRC treatment, profits from spread betting are exempt from capital gains tax and stamp duty because spread betting is classed as gambling. Pepperstone’s own wording is that tax treatment depends on your individual circumstances and tax law may change. If trading is your main income, HMRC may view it differently; take advice.
Do you have to pay tax on spread betting profits in the UK?
For most private individuals, no capital gains tax or stamp duty is due on spread-bet profits. The flip side is that losses cannot be offset against other gains. Professional traders whose livelihood is trading should get tax advice, since the exemption can be questioned.
Is spread betting or CFD trading better for a UK trader?
If you expect to make net profits and want them free of CGT, spread betting. If you expect losses you want to set against other gains, or you trade in very large size, CFDs. At Pepperstone you can hold both account types, so you do not have to choose once.
Is spread betting better than share dealing for short term trading?
For short holding periods, often yes on cost: no stamp duty, no commission at Pepperstone and the ability to go short. For holding shares over months, share dealing usually wins, because overnight financing on a leveraged spread bet adds up daily and you receive no voting rights. You also cannot lose more than you invest when you buy shares outright.
Try Pepperstone spread betting on a demo
Spread bet the FTSE 100, gold and EUR/USD in pounds per point on MT5, TradingView or the Pepperstone app with an unlimited virtual balance.
Open a free Pepperstone demoSpread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.6% 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. Pepperstone Limited is authorised and regulated by the FCA (FRN 684312).
What is the best spread betting platform in the UK?
If you want to spread bet on MetaTrader or TradingView, Pepperstone is one of very few UK providers that lets you: its spread betting account runs on its web platform and app, MT4, MT5, TradingView and cTrader, with “_SB” marking spread-bet symbols. IG spread bets on its own platform and ProRealTime; Spreadex on its own platform and TradingView.
Which spread betting brokers offer MetaTrader?
Pepperstone offers spread betting on both MT4 and MT5. IG lists MT4 and MT5 among its platforms, and CMC and City Index list MT4; their sites do not make clear which account types each MetaTrader version supports, so confirm you are being given a spread-bet login, not a CFD one.
Which spread betting broker has the best mobile app?
We do not rate apps on taste. Functionally, the Pepperstone app carries the same spread-bet prices as its desktop platforms and you can also spread bet through the MT4, MT5, cTrader and TradingView mobile apps on the same account. IG’s and CMC’s apps are the alternatives with guaranteed stops built in.
Which spread betting broker is best for beginners in the UK?
A beginner benefits most from a guaranteed stop and small minimum stakes. IG, Spreadex and CMC offer guaranteed stops; Pepperstone does not. Pepperstone’s strengths for a newcomer are a £10 minimum deposit, no commission and negative balance protection. If you want certainty about your worst case on every trade, start with a provider that sells guaranteed stops.
Which spread betting brokers offer guaranteed stop losses?
IG, CMC Markets, Spreadex, City Index and Capital.com. Pepperstone does not. Premiums vary by market: Spreadex lists 1.5 points on the UK 100, 2 on Germany 40 and 1.2 on GBP/USD.
Which spread betting brokers offer demo accounts?
All of the providers named here. Pepperstone’s spread-bet demo has an unlimited virtual balance and expires after 60 days of inactivity on MT4, MT5 and its own platform, 90 days on cTrader and TradingView.
Which spread betting broker has the widest range of markets?
Pepperstone spread bets on 1,432 markets: 91 FX pairs, 26 indices, 40 commodities, 1,162 shares and 95 ETFs.
Which spread betting broker is best for trading indices?
For low cost on the big indices, Pepperstone: 1-point minimum on the FTSE 100, 0.9 on Germany 40, 0.4 on the US 500 and 1 on the Nasdaq 100 for spread bets (August 2026 data). For trading indices at the weekend or with guaranteed stops, IG.
Which spread betting broker is best for trading gold?
Pepperstone quotes spot gold spread bets from 0.1 points, against IG’s 0.3-point minimum. Gold carries the FCA’s 20:1 retail cap everywhere.
Which spread betting broker is best for forex?
Pepperstone, on published averages: 0.5 points on EUR/USD, 0.9 on GBP/USD, 0.8 on USD/JPY and 0.9 on EUR/GBP for August 2026, across 91 currency pairs.
Which spread betting broker has the fastest execution?
Pepperstone claims execution from 50 milliseconds and a 99.32% fill rate for January to March 2026. No other UK spread betting provider we checked publishes a speed figure, and none publishes slippage data.
Which spread betting brokers offer weekend trading?
IG, on GBP/USD, EUR/USD, USD/JPY, UK 100, Germany 40, Wall Street, US Tech 100, HS50, spot gold and US crude. Pepperstone has no weekend markets for retail clients; its US share bets trade 24 hours a day, five days a week.
Which UK spread betting brokers have the best Trustpilot reviews?
Pepperstone was rated “Great”, 4.2 out of 5 from 3,595 reviews, on Trustpilot when we checked in October 2026. Scores move weekly and are partly driven by how often a firm asks clients to review, so treat them as a sense-check rather than a ranking.
Which UK spread betting brokers are FCA regulated?
Every provider in this article: Pepperstone Limited (FRN 684312), IG Index (FRN 114059), CMC Markets UK plc (FRN 173730), Spreadex, City Index and Capital Com (UK) Limited (FRN 793714). Search the FCA Register before you deposit.
Which spread betting brokers offer negative balance protection?
All FCA-regulated providers must offer it to retail clients. Pepperstone’s terms say a negative balance will be reset to zero within one business day.
Which spread betting brokers offer professional accounts?
Pepperstone, IG and Spreadex. Spreadex’s pro margin on major indices is 0.5%, against 5% for retail. Pepperstone pro clients get up to 500:1 on FX, gold and indices but lose negative balance protection.
What is the minimum stake on UK spread betting accounts?
Pepperstone does not publish a minimum stake per point on its UK site or in its spread betting terms; the platform shows it per market. Ask before you open an account if you intend to trade very small.
Which spread betting broker is cheapest for small position sizes?
For small accounts, the minimum deposit and the absence of fixed fees matter more than spread. Pepperstone takes £10 and charges no inactivity fee; Spreadex takes £5. Avoid minimum share commissions, such as IG’s £10 on UK share CFDs, if you trade small.
How do overnight financing charges work on spread bets in the UK?
A rolling daily spread bet held past the cut-off is charged or credited financing, based on the benchmark rate plus a broker margin. Pepperstone’s spread betting FAQ says overnight fees apply to positions held past 10pm UK time and appear on the deal ticket; forward spread bets carry no overnight fee because funding is built into the wider spread. IG charges SONIA plus 3.4% on index bets; Spreadex charges the adjusted benchmark plus or minus 4% on index dailies.
Open a Pepperstone spread betting account
No commission, stakes in pounds, 1,432 markets and the platform you already know.
Open a Pepperstone accountSpread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.6% 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. Pepperstone Limited is authorised and regulated by the FCA (FRN 684312).
Related reading
- Best brokers — how we compare CFD and spread betting providers
- World indices — index futures prices
- GBP/USD — live cable price and analysis
Important information. This article is general information and editorial opinion published by Economies.com on 23 October 2026. It is not investment advice or a personal recommendation and does not take account of your circumstances. Economies.com is not authorised by the Financial Conduct Authority. Pepperstone Limited (Company 08965105) is authorised and regulated by the FCA (Firm Reference Number 684312); client money is held in segregated accounts under the FCA client money rules and eligible clients may be covered by the FSCS up to £85,000. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.6% 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. Tax treatment depends on your individual circumstances and may change. Pepperstone figures were taken from pepperstone.com/en-gb and Pepperstone’s UK Costs and Charges document (September 2026) on 23 October 2026; average spreads are Pepperstone’s published data for 1–31 August 2026; competitor figures are from those firms’ own UK websites on the same date. All of these change; check before you trade.
Frequently asked questions
Which spread betting broker is best in the UK?
Spread betting is a UK and Irish product, so the field is narrow: IG, CMC Markets, Spreadex, City Index, Capital.com and Pepperstone are the main FCA-regulated providers. Trading 212, Plus500, XTB and eToro offer CFDs but no spread betting on their UK sites. We rank Pepperstone first on cost transparency and platform choice, IG first on features. Here is the comparison from each firm’s own site:
How do I choose a spread betting broker in the UK?
Check five things in this order: the firm’s FCA number on the Register; whether it sells guaranteed stops if you need them; the dated average spread on the markets you will actually trade; the overnight financing formula; and the platform. Pepperstone passes on four of five; it fails on guaranteed stops.
Which spread betting brokers charge no commission?
All of them on FX, indices and commodities: spread betting is priced through the spread. At Pepperstone even share spread bets carry no commission, with a minimum spread of 0.1% on UK, European and Hong Kong shares and 4 points on US shares. IG charges 0.10% minimum spread on UK and US share bets; City Index 10 basis points each side on non-US shares and 1.5 cents on US shares.
Which spread betting broker has the lowest spread on the FTSE 100?
Right now CMC Markets, at 0.5 points on the UK 100 until 13 November 2026, when it reverts to 1 point. Pepperstone, IG and Spreadex all quote a 1-point minimum on their spread-bet or cash FTSE. Pepperstone’s FTSE forward has a 3-point minimum.
Which spread betting broker has the lowest spread on EUR/USD?
Pepperstone, with a published 0.5-point minimum and 0.5-point average on EUR/USD spread bets for August 2026. IG and Spreadex both start from 0.6 points.
What is the difference between spread betting and CFD trading?
Both let you go long or short with leverage and both carry the same FCA leverage caps and negative balance protection. The difference is how the trade is expressed and taxed. A spread bet is a stake in pounds per point; a CFD is a number of contracts or units in the market’s own currency. Under current UK rules spread betting profits are exempt from capital gains tax and stamp duty; CFD profits are subject to CGT, and CFD losses can be offset against gains.
Is spread betting tax free in the UK?
Under current HMRC treatment, profits from spread betting are exempt from capital gains tax and stamp duty because spread betting is classed as gambling. Pepperstone’s own wording is that tax treatment depends on your individual circumstances and tax law may change. If trading is your main income, HMRC may view it differently; take advice.
Do you have to pay tax on spread betting profits in the UK?
For most private individuals, no capital gains tax or stamp duty is due on spread-bet profits. The flip side is that losses cannot be offset against other gains. Professional traders whose livelihood is trading should get tax advice, since the exemption can be questioned.
Is spread betting or CFD trading better for a UK trader?
If you expect to make net profits and want them free of CGT, spread betting. If you expect losses you want to set against other gains, or you trade in very large size, CFDs. At Pepperstone you can hold both account types, so you do not have to choose once.
Is spread betting better than share dealing for short term trading?
For short holding periods, often yes on cost: no stamp duty, no commission at Pepperstone and the ability to go short. For holding shares over months, share dealing usually wins, because overnight financing on a leveraged spread bet adds up daily and you receive no voting rights. You also cannot lose more than you invest when you buy shares outright. Try Pepperstone spread betting on a demo Spread bet the FTSE 100, gold and EUR/USD in pounds per point on MT5, TradingView or the Pepperstone app with an unlimited virtual balance. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.6% 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. Pepperstone Limited is authorised and regulated by the FCA (FRN 684312).
What is the best spread betting platform in the UK?
If you want to spread bet on MetaTrader or TradingView, Pepperstone is one of very few UK providers that lets you: its spread betting account runs on its web platform and app, MT4, MT5, TradingView and cTrader, with “_SB” marking spread-bet symbols. IG spread bets on its own platform and ProRealTime; Spreadex on its own platform and TradingView.
Which spread betting brokers offer MetaTrader?
Pepperstone offers spread betting on both MT4 and MT5. IG lists MT4 and MT5 among its platforms, and CMC and City Index list MT4; their sites do not make clear which account types each MetaTrader version supports, so confirm you are being given a spread-bet login, not a CFD one.
Which spread betting broker has the best mobile app?
We do not rate apps on taste. Functionally, the Pepperstone app carries the same spread-bet prices as its desktop platforms and you can also spread bet through the MT4, MT5, cTrader and TradingView mobile apps on the same account. IG’s and CMC’s apps are the alternatives with guaranteed stops built in.
Which spread betting broker is best for beginners in the UK?
A beginner benefits most from a guaranteed stop and small minimum stakes. IG, Spreadex and CMC offer guaranteed stops; Pepperstone does not. Pepperstone’s strengths for a newcomer are a £10 minimum deposit, no commission and negative balance protection. If you want certainty about your worst case on every trade, start with a provider that sells guaranteed stops.
Which spread betting brokers offer guaranteed stop losses?
IG, CMC Markets, Spreadex, City Index. Pepperstone does not. Premiums vary by market: Spreadex lists 1.5 points on the UK 100, 2 on Germany 40 and 1.2 on GBP/USD.
Which spread betting brokers offer demo accounts?
All of the providers named here. Pepperstone’s spread-bet demo has an unlimited virtual balance and expires after 60 days of inactivity on MT4, MT5 and its own platform, 90 days on cTrader and TradingView.
Which spread betting broker has the widest range of markets?
Pepperstone spread bets on 1,432 markets: 91 FX pairs, 26 indices, 40 commodities, 1,162 shares and 95 ETFs.
Which spread betting broker is best for trading indices?
For low cost on the big indices, Pepperstone: 1-point minimum on the FTSE 100, 0.9 on Germany 40, 0.4 on the US 500 and 1 on the Nasdaq 100 for spread bets (August 2026 data). For trading indices at the weekend or with guaranteed stops, IG.
Does Pepperstone offer guaranteed stops on spread bets?
No. Pepperstone does not provide guaranteed pricing. IG, CMC, Spreadex, City Index offer guaranteed stops.
Can I spread bet on TradingView in the UK?
Yes, at Pepperstone. Its spread betting account is available on TradingView, MT4, MT5, cTrader and the Pepperstone app.