Our team opened both demo and live FCA regulated spread betting accounts and tested the apps available. Our testing included two Android Phones (Samsung) and iPhones and factored in the usability, spreads (fees) and features available to find the best spread betting App for UK traders.
Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site.
We found that the April 2024 best spread betting platforms were:
| Broker | Our Rating | Regulation | Standard EUR/USD Spread |
Standard GBP/USD Spread |
Standard AUD/USD Spread |
Raw EUR/USD Spread |
Raw GBP/USD Spread |
Raw AUD/USD Spread |
Commissions (USD Base) |
MetaTrader 4 | MetaTrader 5 | cTrader | Execution Speed | Minimum Deposit | Currency Pairs | Crypto CFDs | Retail Leverage | Prof. Leverage | Read Full Review |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Read review ›
|
98 |
FCA CySEC |
1.12 | 1.69 | 1.22 | 0.1 | 0.6 | 0.3 | $3.50 |
|
|
|
77ms | $0 | 62+ | 12+ | 30:1 | 500:1 |
|
Read review ›
|
81 |
FCA CIRO |
0.6 | 0.9 | 0.7 | - | - | - | - |
|
|
|
- | $0 | 70+ | 4+ |
|
||
Read review ›
|
69 |
FCA BaFin |
1.12 | 1.30 | 1.64 | 0.5 | 0.9 | 0.6 | $2.50 |
|
|
|
138ms | $0 | 338+ | 19+ | 30:1 | 500:1 |
|
Read review ›
|
71 |
FCA BaFin, CySEC |
1.13 | 1.66 | 1.01 | 0.16 | 0.59 | 0.29 | $6.00 |
|
|
|
174ms | $450 | 100+ | 12+ | 30:1 | 200:1 |
|
Read review ›
|
66 |
FCA ASIC, MAS |
0.70 | 1.1 | 2.2 | - | - | - | - |
|
|
|
95ms | $150 | 84+ | 25+ | 30:1 | 500:1 |
|
Read review ›
|
71 |
FCA CySEC |
0.6 | 1 | 1 | 0.1 | 0.6 | 0.5 | $3.0 |
|
|
|
132ms | $100 | 122+ | 37+ | 30:1 | 500:1 |
|
Read review ›
|
6.4 | FCA | 0.84 | 1.37 | 0.83 | - | - | - | - |
|
|
|
- | £0 | 50+ | - | 30:1 | - |
|
Read review ›
|
70 |
FCA BaFin, CySEC |
1.3 | 1.4 | 1.7 | 0.30 | 0.90 | 0.40 | $3.00 |
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|
|
150ms | $300 | 42+ | 7+ | 30:1 | 500:1 |
|
Read review ›
|
64 |
CySEC CBI, KNF |
- | - | - | - | - | - | - |
|
|
|
160ms | $100 | 55+ | 15+ | 30:1 | 400:1 |
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Pepperstone allows you to spread bet with MT4, MT5, cTrader and TradingView apps.
The best spread betting app for UK traders is Pepperstone, a no-dealing desk broker (NDD) that sources liquidity from multiple top-tier providers and offers some of the best quotes and most markets.
When trading with Pepperstone, you can spread bet on forex markets, stock markets, index funds, commodities and treasury markets, among others. I also found their educational resources impressive. Pepperstone’s education centre includes articles, webinars and tutorials for beginners and experienced traders.
Pepperstone Spread Betting Platform Options
If you choose Pepperstone as your spread betting broker, you can choose from four top spread betting platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader and TradingView.
Designed primarily for forex trading, MetaTrader 4 nevertheless fits the bill for spread betting. You’ll have access to Autochartist for advanced charting, Expert Advisors (EAs) for automated trading and multiple order types. It also offers a solid range of 30 built-in technical indicators that you can use to identify market trends and track price movements.
MetaTrader 5 offers the same benefits as its older sibling, plus additional technical indicators, Depth of Market analysis and access to centralised exchanges. This spread betting platform also boasts an impressive 21 timeframes (vs MT4’s nine).
cTrader has good depth of markets for greater pricing control while TradingView is the best choice for charting.
Pepperstone Accounts
If you want to spread bet with Pepperstone, you’ll need to open a Standard account. This spread-only account doesn’t charge a commission on your bets, which makes calculating your costs significantly easier.
You’ll have access to the full range of markets for your betting at competitive rates. Pepperstone’s minimum spreads hover at around 0.7 pips for major pairs like the EUR/USD.
Our table below sets out the average spreads for other major forex pairs. Based on our analysis, the broker deserves its reputation for competitive pricing and is one of the best spread betting brokerage options.
|
Spread Betting Account Spreads
|
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|---|---|---|---|---|---|
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1.10 | 1.40 | 1.40 | 1.40 | 2.00 |
|
1.13 | 1.12 | 1.66 | 1.71 | 2.27 |
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0.90 | 1.40 | 1.40 | 1.40 | 1.40 |
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1.20 | 1.80 | 1.80 | 1.50 | 2.20 |
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1.20 | 1.50 | 1.60 | 1.50 | 2.80 |
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1.10 | 1.20 | 1.50 | 1.40 | 1.50 |
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1.10 | 1.30 | 1.30 | 1.30 | 1.40 |
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1.20 | 1.10 | 1.30 | 1.20 | 1.20 |
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1.70 | 1.60 | 2.00 | 1.70 | 2.50 |
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1.20 | 1.60 | 1.90 | 1.90 | 2.30 |
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1.30 | 1.50 | 1.40 | 2.10 | 1.70 |
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1.12 | 1.38 | 1.30 | 1.30 | 1.55 |
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1.32 | 1.40 | 1.70 | 1.37 | 1.87 |
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1.20 | 1.20 | 1.30 | 1.50 | 1.70 |
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1.60 | 1.50 | 1.90 | 1.80 | 2.10 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 04/01/2024
Pepperstone Spread Betting Markets
Pepperstone allows you to bet on multiple products regardless of market conditions. If you aim to diversify your portfolio, the range of spread betting instruments presents the ideal opportunity. You can also access multiple markets to protect your positions and hedge against unforeseen events.
Pepperstone’s range of spread betting markets includes:
You can also spread bet the true value of the USD, EUR, and JPY with this broker’s currency index CFDs: the USDX & EURX at an average spread of 100 pips and the JPYX at an average spread of 4.0 pips.
Pepperstone Conclusion
Based on my experience, Pepperstone offers UK traders the best spread betting app overall. The competitive spreads and wide range of markets contribute, but the selection of spread betting platforms tips the scale for me.
And, of course, you can download all of Pepperstone’s platform options to your phone or tablet. Each is compatible with iOS and Android operating systems, meaning Pepperstone offers the best spread betting app regardless of your preferences.
View Pepperstone ReviewVisit Pepperstone
OANDA’s spread betting app features an accessible interface ideal for beginners.
A user-friendly with a seamless trading experience, OANDA’s spread betting app is the best match for newer traders, in my view. While OANDA does include a comprehensive set of analytical tools – advanced charting, technical indicators, and drawing tools – the interface isn’t overwhelming.
I also like OANDA for new traders due to the spreads. When you spread bet, every pip counts and OANDA ensures you get the most bang for your buck. Based on the standard spread data we analyse monthly, this spread betting broker truly stands out. OANDA has an average spread of just 0.7 pips for the top five most-traded currency pairs – far lower than the industry average of 1.52 pips!
You can view our beginners spread betting platform page for our full analysis of brokers suitable to those new to trading.
CMC Markets NGEN App Includes CMC Markets’ award-winning spread betting app has powerful tools for professional traders.
We consider CMC markets as the best spread betting app for professionals due to the wide range of markets available to trade and its sophisticated NGEN trading platform.
With CMC Markets, you can access over 11,000 financial instruments to spread bet, including forex pairs, indices, commodities and treasuries. This spread betting broker’s minimum spreads also compare well to other top-tier brokers: spreads for the EUR/USD pairs start at 0.7 pips.
The real draw for those who trade for a living – and the reason why we named CMC Markets – the best spread betting platform for professionals, is its proprietary platform. The NGEN trading platform won the Investment Trends’ ‘Best Mobile/Tablet App’ award from 2013 to 2019 for six years. Designed explicitly for spread bettors, this spread betting app includes unique features like:
Even better: CMC Markets offers a Guaranteed Stop-Loss Order (GSLO) if you execute your bets with the NGEN app. For a fee, this order type guarantees that your order closes at your set point and therefore ensures you don’t experience slippage.
IG Group features spread betting for over 17,000 financial instruments using IG Platform, MT4 and ProRealTime.
London-based IG is the online brokerage that invented spread betting back in 1974 and now gives you access to over 17,000 financial instruments, such as:
I like that IG Group complements the almost overwhelming selection of markets to spread bet with a broad selection of platforms. Depending on your trading strategy and preferred market, you’ll need a particular combination of features. The wide selection of trading platforms ensures you’ll have the tools you need to succeed with your instrument of choice.
However, be aware that not all these platforms support spread betting. IG Group’s online trading platform and mobile app allow it, as does the most popular trading platform, MetaTrader 4 (MT4). Both of these spread betting platforms are available on Apple’s iOS for iPhone & iPad and Android devices.
City Index has one of the best trading platform apps with access to over 8,000 financial markets for retail investor accounts.
This spread betting broker offers its own spread betting app and MetaTrader 4, available for free to download to iOS devices and Android.
Spread betting on City Index means clients can trade on margin, whereas if they had a share dealing account, they would have to put forward the total value.
City Index offers fixed spreads or variable spreads for the full range of markets. The average spread for the world’s most popular traded forex pair EUR/USD is 0.8 pips, though it can go as low as 0.5 pips.
City Index has its own award-winning platform that suits any trader, regardless of expertise. Their mobile applications have been specifically designed for Android and IOS users, whether on a tablet or phone. Some of the key features included in the apps are:
Spreadex Allows Spread Betting For CFDs and Your Favourite Sports
Losing interest in financial spread betting? Spreadex, the top online brokerage for sports spread betting for the last 20 years, may spark your excitement for trading again. (It did for me.) The range of markets available on this multi-purpose platform extends from commodities to golf and includes:
Spreadex offers a mobile spread betting app compatible with iOS and Android devices. You can download these for free on Google Play Store and Apple’s App Store.
Despite being a multi-industry trading platform, Spreadex incorporates professional analytical tools into its mobile apps. That is unsurprising, given that you can trade CFDs and spread bet from the same Spreadex trading app account. You’ll have access to award-winning charting, advanced order types and price alerts that arrive via email, text or pop-up notification.
Admirals Has MT5 For Shares Trading.
Admirals is a leading choice for MT5 spread betting, catering to UK and Irish clients. This spread betting broker’s unique approach to spread betting using the MT5 platform offers a leveraged trading option with tax-free profits, appealing to those who prefer MT5 over the more commonly used MT4 for spread betting.
Regulated in multiple jurisdictions, including Australia, Europe, and the UK, it offers a variable spread with no commission, making it cost-effective for traders. The platform supports various instruments like Forex, CFDs, cryptocurrencies, and commodities. A minimum deposit of $100 is required, and the platform supports credit card deposits.
Admirals provide three account types: Trade, Zero, and Invest, each with unique features like micro lot trading, hedging, scalping, and automated trading with Expert Advisors. The Trade accounts (Trade.MT4 and Trade.MT5) appeal to beginners and long-term traders due to their no-commission structure and competitive spreads, like 0.6 pips on EUR/USD, significantly lower than the industry average.
The platform’s volatility protection is notable, offering advanced order settings to manage risk in volatile markets. This includes setting maximum limits for price slippage and protection against price gapping.
Admiral’s education resources are extensive, with courses and webinars for all levels, from basic to advanced trading strategies. The “Zero to Hero” program, a 20-day training course, and regular webinars provide valuable insights for enhancing trading skills.
FXCM’s Trading Station App Has Extra Tools To Test Out With A Demo Account.
FXCM is an FCA-regulated spread betting broker that allows spread betting for UK clients on its Trading Station mobile app platform and MetaTrader 4 app (MT4) via a demo account. (The broker also offers Ninja Trader for spread betting, though this is a web app only – no mobile access.) That means FXCM clients can access the markets on two different mobile trading applications available for both iOS and Android devices.
Trading and spread betting can carry high risks as well as rewards. If a broker has sound risk management tools and features, it can help you make more money (versus losing it). In addition to a demo account, which allows you to practise using its spread betting app without risking actual funds, FCMX has implemented stop-losses, pending market orders, and take-profit levels. Using the MT4 application, you can leverage the Expert Advisor feature to hone your decision-making.
FXCM has a wide range of markets for spread betting, including ten different forex pairs, seven indices including the S&P 500, six commodities, and over 15 stock shares.
*Your capital is at risk ‘67% of retail CFD accounts lose money’
Avatrade Distinguishes Itself As A Premier Choice For iOS Spread Betting.
The platform’s approach to risk management is robust and includes features like negative balance protection for all clients. AvaTrade also uses a range of margin call policies depending on experience level. This makes it an excellent platform for traders still learning and requiring a safety net.
The AvaTradeGo mobile app, which is compatible with iOS and Android, is a standout feature. It serves as a comprehensive tool for managing MetaTrader 4 trading accounts, providing functionalities such as real-time chart analysis, creation of watch lists, live feeds and prices, and unique features like “Market Trends” for community insight and AvaProtect™ for risk management.
This market maker is well-regulated across multiple regions, including Europe, the UK, Australia, UAE, and South Africa. Its diverse trading instruments encompass 55 Forex pairs, 26 commodities, 23 indices, and even bonds, catering to various trading preferences. You’ll also enjoy commission-free trading with competitive spreads, such as 0.9 pips for EUR/USD
AvaTrade’s iOS app stands out for its user-friendly interface, comprehensive trading and learning tools, and strong regulatory compliance. In my view, these factors make it a top choice for spread betting on iOS devices.
To choose the best spread betting app, zero in on your trading needs.
The ideal spread betting app for an algorithmic trader who also day traders forex will need to offer MetaTrader 4. On the other hand, the AvaTrader spread betting app makes more sense for a trader who can’t afford to lose money and doesn’t mind paying a premium. And someone who also wants to trade stocks will need access to a centralised exchange via MetaTrader 5.
Do you see where I’m going with this? There is no one-size-fits-all approach to choosing the best spread betting app or the best spread betting broker; the answer will always depend on multiple factors.
CMC Markets and AvaTrade offer the most comprehensive risk management tools.
CMC Markets stands out for its Guaranteed Stop Loss Order, which ensures your position closes at a predetermined level, regardless of market gaps or slippage. GLSOs provide strong protection because they guarantee that you exit the market precisely when you intend, even if the market moves against you.
AvaTrade doesn’t offer a GSLO. However, its overall approach to trading ensures you’re never without a safety net. Negative balance protection and conservative margin calls prevent catastrophic losses, while AvaProtect allows you to recoup your losses on losing spread bets.
In my view, the best risk management tool is education. Read up on the risks of spread betting before opening positions with real money, and don’t put funds into the market that you can’t afford to lose.
Yes, you can use the same app to spread bet and trade CFDs with many brokers.
Because both spread betting and trading CFDs involve speculating on price movements without purchasing the underlying asset, they’re closely related trading methods.
‘Closely related,’ however, doesn’t mean ‘the same’, and it’s essential to understand how spread betting and CFD trading differ before choosing an app. Read our analysis of each trading technique to better understand the pros and cons of each.
The spread betting markets you can use with your app will depend on your particular spread betting broker.
Some, like IG Group, offer access to tens of thousands, from precious metals commodities like gold to exotic forex pairs to stocks to indices. Others, like AvaTrade, may offer a more limited selection due to a less experienced or more specialised customer base.
Yes, most brokers offer a free demo account when you sign up for a spread betting app.
I’m a big proponent of ‘try before you buy’, and demo accounts are a great way to do just that. Use a demo account to test out a spread betting app’s trading experience, execution speeds or accessibility before committing any real money.
If a spread betting company or spread betting app doesn’t allow for a demo account, proceed with caution. It’s not a red flag, per se, but you won’t know for sure if the broker can meet your needs until you’re trading with real money.
OANDA is the best app for beginners just starting to spread bet based on our reviews and analysis. While the risk management tools may not be as powerful as other brokers, I prefer OANDA for new traders due to the accessible interface, favourable trading conditions and excellent selection of trading tools.
Read more about my analysis of the best spread betting platforms for beginners here.
Avatrade offers excellent apps for day traders with a wealth of great features. Spread betting is available with MT4 and MT5 when using AvaTrade. Many brokers have MT4 and MT5 but AvaTrade have good trading conditions for day-trading as they permit scalp trading.
The best spread betting provider for day traders will include some additional features, particularly for financial spread betting. Look out for advanced charting, powerful technical indicators and more order types than you might expect with a garden-variety forex broker.
Yes, spread betting is legal in the UK and regulated by the Financial Conduct Authority. However, be aware that spread betting entails significant risk and should only be undertaken with a licensed, regulated provider.
Spreadex offers sports spread betting as well as financial spread betting. Before branching out into this new spread betting market, learn more about the unique features of sports betting here.
Yes, spread betting is tax-free in the UK. Because HMRC considers spread betting a form of gambling, you do not pay stamp duty or capital gains tax on your spread betting profits.
Spread betting’s many advantages include the possibility of profiting in up and down markets, avoiding the risk of owning a financial asset, and not having to pay tax on your profits. Read more about the pros and cons of spread betting.
Pepperstone has the tightest average spreads, the best range of trading platforms, and educational facilities for any level trader. With the option of using either their easy-to-use proprietary cTrader app, TradingView app or the most popular MT4 & MT5 apps, it makes for an excellent selection of charting tools and indicators. Pepperstone is an FCA-regulated broker that operates with no dealing desk (NDD) and no commissions providing you with the lowest costs to trade and make tax-free profits. We named it the best UK spread betting platform winner in 2024.
View Pepperstone ReviewVisit Pepperstone
It should be noted this recommendation is based on spread betting trading, not share trading. If you’re looking to actually buy and sell shares, view the Stock Trading App page made by WealthUp. This list focuses on commission-free stockbrokers which are popular for traders with a longer-view approach compared to spread betting.
Note: This is not investment advice and there is an inherent risk warning when trading spread bets and CFDs.
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