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UK Spread Betting Reviews & Guides

Independent UK spread betting hub

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Financial spread betting is a leveraged way to speculate on price movements, priced in pounds per point. Profits are free of Capital Gains Tax for most UK retail traders. Start with what is spread betting, then compare seven accounts on spread betting for beginners. Ten brokers publish terms for spread betting demo accounts.

We score all 14 FCA-regulated UK spread betting brokers out of 100 each month on their published spreads. Pepperstone leads the August 2026 refresh at 98/100. Between 61% and 76.6% of retail investor accounts lose money across these brokers. See our monthly platform ranking for the order and the 20 brands we have reviewed for every write-up.

Use the spread betting calculator to get profit or loss, spread cost in pounds at each broker’s published spread, and margin at the FCA retail cap. No sign-up is needed. UK spread betting statistics records the monthly harvest of sixteen accounts on nine pairs, with a 1.74 point average across all nine pairs. For the professional-trader exception, see is spread betting tax free in the UK.

Over-the-shoulder view of a UK trader's desk with two monitors showing a GBP/USD chart and the FTSE 100, morning light, no face visible
  • 14FCA-regulated brokers ranked on the same criteria
  • 20brands reviewed since 2024
  • 1 Aug 2026the spread data this ranking is built on
  • 61% to 76.6%published share of retail accounts losing money

As seen on

In April 2026, Babypips quoted our co-founder Justin Grossbard on the tax treatment of spread betting and CFDs. Attitude and TheStreet quoted him on forex spread betting and risk management respectively in August 2025, while SavingTool cited our tax guide in June 2025 and London Post linked to us in August 2021.

Price a spread bet

Open the full calculator page

Our calculator prices a spread bet end to end: the profit or loss on the move, the spread’s cost in pounds, the margin a broker must hold at the FCA cap, and the level where the 50% close-out rule would trigger. It works from each broker’s own published average spreads on nine forex pairs, read 1 Aug 2026, plus the UK 100, US 500 and Germany 40 indices with your own level. The full page adds a margin mode and a compare mode that prices the spread’s cost at every broker we rank.

Spread betting calculator

Cost, profit or loss, and margin on one bet

Direction

On GBP/USD one point is a 0.0001 move, so £5 per point is £5 per pip. 1.3547 is 13,547 points.

GBP/USD is quoted in index points: one point is a 1.0 move of the level, and the bet is priced per index point.

Opening level from the Tue 1 Sept 2026 5pm New York close Opening level: your own figure, from your platform's deal ticket Spread: Pepperstone published, 1 Aug 2026 Spread: your own figure

A buy at £5 per point that closes 80 points higher makes £400.00 before the spread. Pepperstone's published 1.0-point spread costs £5.00 on this bet, leaving £395.00. The margin held to open it is £2,257.83.

Enter the level from your platform's deal ticket and your provider's spread in points; the ledger then prices the bet.

Profit or loss on the move80 points × £5.00 per point£400.00
Cost of the spread1.0 point × £5.00 per point, paid on entry− £5.00
Net result£395.00
Margin to open13,547 points × £5.00 = £67,735 notional, at the FCA 30:1 major-pair cap£2,257.83

Spread betting profits are free of Capital Gains Tax and stamp duty for most UK residents; see how spread betting profits are taxed. Overnight funding is not included; use the overnight funding calculator. Spreads are the brokers' own published averages, read on 1 Aug 2026, or your own figure where you type one; neither is a quote at the moment you deal. Margin uses the FCA COBS 22.5 retail leverage cap for the market class.

Capital at risk when spread betting.

The 14 brokers we rank

These are the 14 FCA-regulated brokers we rank. Each logo opens that broker’s review. We have reviewed 20 brands since 2024.

Why UK spread bettors need a UK-specific broker list

The rules below apply only to FCA-authorised brokers and only to UK spread betting accounts. We read these conditions from each broker’s UK site.

  • FCA authorisation

    Only FCA-authorised brokers can offer UK spread betting. They must hold segregated client funds and offer negative balance protection.

  • Leverage capped by the FCA

    The FCA caps retail leverage at 30:1 on major currency pairs and 20:1 on non-major pairs and major indices. The margin held is 3.33% of the position on major pairs and 5% on the others.

  • Tax position

    Spread betting profits are free of Capital Gains Tax for most UK retail traders. No Stamp Duty applies. A professional-trader exception exists, depending on your individual circumstances.

  • What the brokers disclose

    Between 61% and 76.6% of retail investor accounts lose money across the brokers we compare. These are each broker’s own published figures. Our ranking uses each broker’s published spreads, read on 1 Aug 2026.

A desk in a London office with a laptop showing a price chart, a stamped statement, a calculator and a small stack of pound coins, no people

Who we are

Why Trust Spread Bet UK

Justin Grossbard and Noam Korbl founded Spread Bet UK in 2024 after watching traders try to work out a provider’s spread betting terms from a page written about its CFD account. Justin has over 20 years trading and investing. Noam has over 15 years building fintech and business-finance ventures.

Founded
2024
Brands reviewed
20
Open FCA-authorised accounts
14
Spread data re-read
Every month
Current spread data
1 Aug 2026
Ranking scale
Score out of 100

We apply the same criteria to every broker and score each out of 100. Published average spreads are re-read every month; our current set is from 1 Aug 2026. Every other detail, from the FCA entity and reference number to the demo cost, is read from the provider’s own UK site and recorded with the date it was read. Where a provider publishes nothing quotable, the cell stays empty.

We are paid when a reader visits a partner site. The ranking is not for sale and scores are independent of what a broker pays. You can read the full arrangement on our about us page. Our head office is at 1/650 Inkerman Road, Caulfield North, Victoria, Australia, 3161.

Method

How we score brokers

We open the trading accounts ourselves to see conditions and spreads first-hand.

Scoring starts with cost per trade, from the published average spreads we re-read monthly. We then assess platform quality: a wide range of platforms scores higher because automated, copy trading and chart trading each need something different. Funding and withdrawal terms and customer support are assessed next.

We add points for market analysis, rebate schemes and education. The result is a score out of 100 that reflects the value an account brings, not a feature list. The full criteria are in our methodology.

Diagram of the Spread-Bet.co.uk scoring pipeline: cost per trade, platforms, funding and support, and extras combine into one score out of 100
Cost, platforms, funding and support, and extras combine into a score out of 100.

The monthly ranking

We track 14 FCA-regulated spread betting brokers and re-score them every month. The average spreads come straight from each broker’s published data. Pepperstone leads the August 2026 refresh. For the full table and cost breakdown, see our current list of the best spread betting platforms in the UK.

Between 61% and 76.6% of retail investor accounts lose money across the 14 brokers we compare. What that figure does and does not mean.

Capital at risk when spread betting.

Questions

FAQs

What is spread betting?

Spread betting is a derivative product for speculating on price movements without owning the underlying asset. Profit or loss depends on the accuracy of your prediction and the size of your bet.

It is the only derivative with tax-free status in the UK for most retail traders, carrying no Capital Gains Tax on profits and no Stamp Duty when placing a bet.

Are spread betting profits taxable?

Spread betting profits are not taxable for most UK individuals. HMRC treats spread betting as gambling, so no Capital Gains Tax and no Stamp Duty apply.

A professional-trader exception exists. Profits may be subject to Income Tax when spread betting is your main source of income, while remaining exempt from Stamp Duty. Individual circumstances differ, so speak to a tax professional about your own.

Is spread betting FCA regulated?

Spread betting is regulated by the Financial Conduct Authority (FCA) in the UK. Only brokers licensed and authorised by the FCA can provide spread betting markets.

FCA-regulated brokers must hold segregated client funds, offer negative balance protection, and maintain transparent pricing.

Understand the risk

Spread bets are leveraged, and a leveraged position moves faster than the stake suggests. Across the 14 brokers we compare, the published share of retail investor accounts losing money runs from 61% to 76.6%.

Disclaimer: leveraged instruments are risky. Conduct your own research before trading on margin or with leverage. This page is not financial or tax advice. We are paid when you visit a partner site, and the ranking is not for sale.

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