Spread betting Brokers abound online, and we are sure that if you went online to run a quick search for them, you will come across many betting brokers or review sites discussing them. But which one of them do you go for? That becomes the tricky part. With so many spread betting brokers online, making a choice is not as easy as it should be.
To help you out, we have reviewed some of the best spread betting brokers online. We then finish the review by highlighting some of the things to consider when picking a broker. At the end of the day, it then becomes your choice to decide which broker you want to go for. So take your time to read our review first, then you can make up your mind once you are done.
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When it comes to stock or forex trading, spread betting is simply a trading practice where you place a bet on a stock or currency in the market with an expected outcome. For instance, you may place a bet on an asset with the expectation that it will rise or drop in value. If your expected outcome comes true, you earn income; if it does not, you lose money. If you want to engage in spread betting, you need to open an account with a betting broker. Read our reviews to identify the best spread betting brokers online.
So if you are into spread betting, you need to use a platform that offers you the best possible outcomes. Here are the best spread betting brokers online.
First on our list of the best spread betting brokers is Pepperstone. This Australian broker has a top-notch platform that is great for high-speed trading. Many traders find Pepperstone attractive because they charge very low fees as commission for using their platform. Over the last ten years, their user base has grown exponentially and continues to grow, with hundreds of thousands of clients in every region of the world.
Their platform is so good; it was adjudged the Best Client Relationship Manager at the 2019 Professional Trader Awards. They have responsive customer service, and you can use any of their available platforms such as MetaTrader4, MetaTrader5, and cTrader. Pepperstone is regulated by ASIC of Australia and the FCA of the UK.
Second on our list is eToro. This broker has a platform that is rated as the best copyreading platform ever because you can copy the same trades as many times as you want in a matter of seconds. eToro also charges zero commission for Options trading, which is great news for Options traders. There are no trading limits with eToro, and you can engage in spread betting even if you have minimal experience in such an endeavor.
Established in 2007, this broker offers access to crypto trading, stocks and CFDs, and many other securities at zero commission. They also have loads of educational materials you can use to improve your skills as well as advanced analytical tools. With access to over 800 assets, you can trade as much as you want with no limitations whatsoever.
If you are looking for the best spread betting brokers that charge no commission, and you still avoid tax liabilities for your trading activities, then Capital is the platform you should be looking at. This broker offers traders a host of benefits. They have desktop and Mobile App versions, so you can use whichever one you want. They also provide you access to over 3000 assets you can trade online. In terms of intuitiveness, their platform is one of the best there is.
Their AI uses your trading patterns in addition to other technologies to amplify analytics for improved user experience. They charge no commission, and moreover, there are no initial deposit requirements to start trading on the platform. Capital also has a rich resource base of educational materials like webinars, videos, and podcasts.
FXCM may not be as popular as other brokers on this list, but this spread betting broker is an industry leader in its own right. With more than 20 years of brokerage experience, FXCM is one of the most regulated brokers in the world. With offices in Australia, Canada, the UK, and many other regions, this broker offers spread traders the best possible outcomes.
While many other platforms will not allow you to engage in spread betting immediately after you open an account with them, FXCM allows it as soon as you verify and activate your account by funding it. You can place small, medium, or large bets as you so wish without restrictions. If you are a beginner, you can have a practice account to practice spread betting before you are bold enough to bet with real money. Another benefit of using FXCM is that you are aware of spread costs even before placing a bet which helps you calculate the cost ahead of time.
Founded in 2009, Moneta Markets is regulated by the FCA and ASIC. This broker offers three types of trading accounts that are commission-based, and each of them has different spreads with trading costs built into each spread. Moneta Markets allows you to trade commodities z indices, CFDs, and forex. The minimum deposit requirement is $50 minimum.
For ECN accounts, you need to pay a commission of $6 per lot, but the good news is that spreads that have a starting pip of 0 on STP and Prime accounts have their fees added to their spreads. Moneta Markets has MetaTrader4 and MetaTrader5 alongside their customized proprietary AppTrader and WebTrader platforms available in mobile and web versions.
All their platforms have outstanding tools with access to their research tools for algorithmic trading. Moneta Markets also has a demo account attached to all accounts for practicing your strategy and trading styles.
Spread betting brokers cater to the specific needs of traders who do spread betting, and that is exactly what City Index is known for. This broker is tested very highly for its spread betting features and financial strength. While it may lag behind compared to other brokers in many other areas, it rates well for being a leading expert platform for spread betting. First of all, their competitive fees and a host of many other tools make spread betting very easy and rewarding.
And with a market experience of more than three decades, this is a broker you can trust with your funds. City Index also provides access for forex trading and contract of difference trading. As for their spreads, they start from 0.5 points and above, which is quite low compared to what other brokers offer spread bettors. You have access to more than 12,000 markets across the globe where you can trade shares, indices, commodities, forex, and CFDs. The FCA regulates City Index.
For those who may not have heard of SwitchMarkets, this spread betting broker offers traders flexible options regardless of their trading style. You can trade CFDs, Forex, Commodities, and Crypto on SwitchMarkets. Moreover, you have the option to trade with zero spreads starting with a minimum deposit of $50. Their maximum leverage is 1:500for those brave enough to go that high.
Another added benefit of trading with SwitchMarkets is that it offers traders an advanced VPS that comes attached to their trading accounts. On top of that, you can make deposits and withdrawals very fast with promotional cash backs and free trader tools like their Risk Manager.
Another Spread betting broker worth mentioning is CMC Markets. Many traders have stuck to this broker because they consider the platform to be very safe and secure. CMC has been around for more than 30 years, and as the world transitioned into the internet age, they followed suit. Their mobile and web versions are top-notch, and their forex fees are very low. The only criticism leveled against them is that their stock trading fees are quite high, but in terms of fee transparency, you know exactly how much you are to pay as commission.
Their live chat line is also quite commendable, and you can always have a customer service agent resolve whatever issue you may have with your account as quickly as possible. CMC is a safe and secured platform for spread traders.
With so many brokers online advertising their service features as the best, it can be quite difficult to figure out which broker is best for you. However, there are certain features you can look out for to know if a betting broker is as good as they claim. Here are some of the things to look out for.
The first thing you want to look for is the regulatory licenses the broker possesses. Highly regulated brokers are safe because they play by the rules. They will not cheat you of your money or fail to pay you your earnings anytime you request it. They operate under the strictest regulatory standards; otherwise, they will be sanctioned by the authorities. Brokers regulated by the FCA, FINRA, ASIC, and other Tier 1 and Tier 2 brokers are the ones you should be trading with, not unregulated brokers.
It pays to trade with betting brokers who have been around for a long time. This is because they are highly predictable, and you know what their policies are and how their platforms work. Moreover, if you go online, you will find an unlimited volume of reviews written about them. If they are good enough, it will be obvious based on the reaction of other traders.
Brokers charge commissions and fees for operating their trading platforms, and that is how they make money. However, you want to ensure that the broker you choose charges very low commissions. When picking a betting broker, consider the spread they offer and the bid price. Remember that brokers charge you for opening and closing bets, so to make a profit, you need to seek out the lowest spread possible.
The best spread betting brokers offer traders first-class Customer Service. So make sure that the one you pick has a responsive pipeline that you can reach out to if you have any problems. The last thing you want is to use a broker that takes hours or days to respond to your inquiries. Good brokers also have special communication channels through which they liaise with traders. Watch out for brokers that can be reached through various methods such as calls, text, emails, and, more importantly, live chats.
There are many spread betting brokers in the world. Some are widely known, while others are not. Before you decide on a broker to go for, make sure you do your homework. If you end up using the best spread betting broker for your spread bets, you increase your chances of getting your desired results.
No, not all brokers offer spread betting. Some brokers allow it for only selected trading accounts, while others don’t allow it at all.
If a broker allows spread betting, they will advertise it on their website.
That will depend on the broker. Different brokers have different funding requirements.
Yes, you can. All betting brokers have demo trade accounts attached to live accounts.
You can utilize the funding methods found on the broker’s platform. Your broker may have the following funding channels: