Best Spread Betting Platforms and Brokers 2024

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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.
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James Barra
James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.
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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.
Updated

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 2024. 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 1 platforms are a cut above the rest:

Click a broker for details
  1. 1
    IG
    Forex trading involves risk. Losses can exceed deposits.

    Ratings
    4.9 / 5
    4 / 5
    4.5 / 5
    3.5 / 5
    4.8 / 5
    4.5 / 5
    4.9 / 5
    5 / 5
    4.6 / 5
    4 / 5

    $0
    0.01 Lots
    1:30 (Retail), 1:250 (Pro)
    FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB
    CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
    Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral
    PayPal, Wire Transfer, Mastercard, Credit Card, Visa, Debit Card
    USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD

Here is a summary of why we recommend these brokers:

  1. IG - IG offers spread betting on 17,000+ markets, including currencies, indices, shares and commodities - more than almost every alternative. Notably, IG also offers spread bets on less commonly offered assets like IPOs, allowing experienced traders to diversify their portfolios. For casual traders, IG also offers the opportunity to spread bet on weekend markets – a terrific feature that we don’t come across often.

Best Spread Betting Platforms and Brokers 2024 Comparison

Best Spread Betting Platforms and Brokers 2024 Comparison
Broker Overall Rating Trust Rating Accounts Rating Assets Rating Cost Rating Tools Rating Research Rating Education Rating Support Rating
IG logo
4.4 / 5 4.9 / 5 4 / 5 4.5 / 5 3.5 / 5 4.8 / 5 4.9 / 5 5 / 5 4.5 / 5

IG

"IG continues to provide a comprehensive package with an intuitive web platform and best-in-class education for beginners, plus advanced charting tools, real-time data, and fast execution speeds for experienced day traders."

Christian Harris, Reviewer

IG Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
RegulatorFCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB
PlatformsWeb, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:30 (Retail), 1:250 (Pro)
Account CurrenciesUSD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD

Pros

  • The IG app offers a superb mobile trading experience with a clean design that helped it secure Runner Up at our Best Trading App award
  • IG is amongst the best in terms of its range of instruments, which includes stocks, forex, indices, commodities, and cryptocurrencies, providing ample diversification opportunities
  • The proprietary web-based platform continues to caters to traders of all levels, with advanced charting tools and real-time market data useful for day trading

Cons

  • Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges
  • While there is negative balance protection in the UK and EU, there is no account protection or guaranteed stop losses for US clients
  • IG has discontinued its swap-free account, reducing its appeal to Islamic traders

Methodology

We took our database of close to 500 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.

💡
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).

💡
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.
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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.

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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