So you want to be a forex trader and you’re looking for a tax-free way to keep your profits? Look no further. Our Top 10 Forex Brokers for Spread Betting will help you choose the broker that’ right for you. I’ve personally tried all of these brokers in order to find the best one according to our spread betting broker criteria. Feel free to check that out if you’re looking for ways to assess spread betting brokers.
Who is the Best Spread Betting Forex Trading Broker?
Anyway, let’s get to it and see who makes the cut!
1. ActivTrades
Spread Betting? Yes
Number of Forex Pairs: Over 50+
Spreads: From 0.5 pips
- Offers a proprietary platform, ActivTrader, alongside MT4 and MT5 for versatile trading
- Low spreads on forex, starting from 0.5 pips
- Advanced risk management tools, such as SmartOrder and SmartLines
- Strong regulation with oversight by the FCA, ensuring secure trading
- Comprehensive educational materials, including live webinars and tutorials
- Smaller selection of instruments compared to brokers like IG
- Limited deposit and withdrawal options
- No social trading features available
Why it’s #1:
Whilst not the most forex pairs on this list, ActivTrades is still the most-awarded FX broker on the list and one of the oldest names in UK trading, and they’ve perfected the art of offering spread betting. Their spreads start at a competitive 0.5 pips, and they provide access to MT4, MT5, and their proprietary ActivTrader platform.
They’ve won multiple awards for their forex prowess and are easily the top broker when it comes to spread betting forex online. Even with fewer pairs, you are unlikely to trade the minors in spread betting due to the volatility involved – how often have you really traded SGDMXN!?
For traders interested in spread betting on forex, indices, and shares, ActivTrades offers a nice balance of variety and low trading costs, along with educational resources and webinars for both new and seasoned traders.
£250 recommended deposit
Best for Forex
Founded in 2001, ActivTrades is a gloablly regulated and widely-recognised broker offering excellence in their proprietary platform.
83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
2. Pepperstone
Spread Betting? Yes
Number of Forex Pairs: Over 60+
Spreads: From 0.0 pips (Razor account)
- Low spreads starting from 0.0 pips on Razor accounts, offering cost-efficiency
- Multiple trading platforms, including MT4, MT5, and cTrader for flexibility
- Fast execution speeds due to No Dealing Desk (NDD) setup, ideal for scalpers and high-frequency traders
- Comprehensive educational resources for traders of all experience levels
- Regulated by FCA (UK), ASIC (Australia), and CySEC, ensuring strong oversight and security
- No proprietary platform, which may not suit traders looking for a custom-built interface
- Inactivity fee charged after 6 months of no trading activity
- No social trading options for those interested in copy trading
Why it’s second:
Pepperstone is consistently ranked among the best spread betting brokers in the UK (including on the best spread betting guide online) , and for good reason. With tight spreads starting from 0.0 pips on major forex pairs, it’s hard to beat them for low-cost trading. Their Razor Account is designed for spread bettors who crave precision and low spreads, while the MetaTrader 4, MetaTrader 5, and cTrader platforms allow for both manual and automated trading strategies. What’s more, the No Dealing Desk (NDD)execution ensures your trades are placed in real market conditions with no broker interference—ideal for those seeking transparent, fast execution.
£500 Recommended Deposit
Best Reputation
Pepperstone is a Melbourne-based broker that offers an excellent selection of trading instruments in the financial trading markets, including commodities, shares, ETFs and more.
75.5% of retail investor accounts lose money when trading on margin with this provider
3. IG
Spread Betting? Yes
Number of Instruments: Over 80+
Spreads: From 0.6 pips
- Extensive market access with over 17,000 instruments including forex, indices, and commodities
- Advanced ProRealTime platform with robust charting and analysis tools
- Low spreads on major indices, starting from 0.1 points
- Solid reputation for educational content, including webinars and courses for traders
- Well-regulated by the FCA, ensuring client fund protection
- Higher spreads on forex compared to competitors like Pepperstone
- Inactivity fee after 2 years of no trading, which might add up for long-term traders
- Platform complexity may overwhelm beginners due to advanced features
Why it’s third:
IG is the go-to platform for UK traders who want a wide variety of markets. With over 17,000 instruments available for spread betting, including forex, indices, commodities, and shares, IG really shines in terms of market diversity. It’s perfect for traders who want to spread bet on not just forex but a whole range of financial markets. Their spreads start from 0.6 pips, and they offer ProRealTime charts in addition to the usual MT4, which is ideal if you’re looking for a cutting-edge charting platform. The only reason it’s third is that the spreads on forex can be slightly higher than Pepperstone’s Razor Account.
4. Vantage Markets
Spread Betting? Yes
Number Forex Pairs: 60+
Spreads: From 0.0 pips
- Extremely tight spreads starting from 0.0 pips on Raw Spread accounts
- Supports multiple platforms, including MT4, MT5, and TradingView
- Offers high leverage up to 1:500, catering to risk-tolerant traders
- Fast execution speeds thanks to an ECN-like setup
- No commissions on Standard accounts, which can be great for beginner traders
- Limited educational resources compared to brokers like IG and Pepperstone
- Smaller range of instruments at 300+ compared to industry leaders
- No proprietary platform, which might deter traders looking for more customization
Why it ranks high:
Vantage Markets is a serious contender for spread betting with ultra-tight spreads starting at 0.0 pips and MT4 and MT5 platforms for robust technical analysis and automation. This broker is known for offering ECN-like trading conditions with fast execution speeds, making it perfect for high-frequency traders. While it doesn’t offer as many instruments as IG or Pepperstone, its low spreads and high leverage options make it an attractive choice for forex spread bettors looking for solid value.
£500 Recommended Deposit
Best All-Rounder
Vantage Markets in a seasoned provider of both CFD & Spread Betting tools with a range of over 1000+ instruments to trade
70.5% of retail investor accounts lose money when trading CFDs and Spread Bets with this provider.
5. XTB
Spread Betting? No, CFD-only
Number of Forex pairs: 70+
Spreads: From 0.1 pips
- Proprietary xStation 5 platform is highly intuitive and user-friendly
- Low forex spreads starting at 0.1 pips, which can help traders save on costs
- Comprehensive educational resources including a trading academy and webinars
- Access to a large number of instruments — over 2,100 assets
- No minimum deposit requirement, making it more accessible to new traders
- No spread betting options available as it’s CFD-only
- Inactivity fees kick in after 12 months
- Limited account types compared to other brokers
Why it’s worth a mention:
OK, we know, not a spread betting broker, however, even though XTB doesn’t offer spread betting, it’s one of the most well-rounded brokers in the UK for CFDs, especially in forex trading. Their xStation 5 platform is one of the best in the industry, offering lightning-fast execution and incredible charting tools. With spreads starting from 0.1 pips on major forex pairs, XTB is perfect for traders who want tight spreads without the added commission costs of some other brokers. Although it’s CFD-only, it’s worth noting for the sheer quality of their execution and platforms.
£250 Recommended Deposit
Best for CFD's
XTB offers a proprietary platform with incredible trading resources & educational material in an easy-to-use, low cost trading environment. Perfect for currency traders.
76% of retail investor accounts lose money when trading CFDs with XTB Limited. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
6. AvaTrade
Spread Betting? Yes
Number of Forex Pairs: Over 50+
Spreads: From 0.9 pips
- Wide range of instruments including forex, indices, commodities, and cryptocurrencies
- Provides AvaOptions, a dedicated platform for options trading
- Comprehensive trading tools, including Autochartist and DupliTrade for automated trading
- Regulated by several top-tier regulators, ensuring security and trust
- Commission-free trading with competitive spreads
- Spreads are not as tight as some competitors like Vantage Markets
- Limited account types and customization options
- Some features, like AvaOptions, may be overwhelming for beginners
Why it made the cut:
AvaTrade offers a pretty comprehensive of instruments for spread betting and forex trading. With spreads starting from 0.9 pips, it might not be the tightest spread on this list, but their AvaTradeGO mobile platform, combined with MT4 and MT5, provides ample opportunities for both manual and automated traders. AvaTrade is also known for offering social trading tools, making it an excellent choice for traders who want to follow or copy successful trading strategies.
It has also won several FX awards including best forex app by FX Empire in 2024 so it’s well worth a mention here.
7. City Index
Spread Betting? Yes
Number of Forex Pairs: 65+
Spreads: From 0.5 pips
- Offers over 12,000 markets, including forex, indices, shares, and commodities
- Supports advanced platforms such as MT4 and the proprietary Web Trader
- Regulated by the FCA, ensuring a safe and transparent trading environment
- Competitive spreads, especially on indices and commodities
- Good range of educational tools, including market insights and webinars
- Limited account types and features compared to competitors
- Some spreads, particularly on forex, may not be as competitive as other brokers
- Inactivity fees after 12 months, which can add up for passive traders
Why it stands out:
City Index offers one of the widest selections of spread betting markets in the UK, with over 12,000 instruments to choose from, including forex, shares, and indices and over 65+ FX pairs to trade. Their spreads start from 0.5 pips, and they offer a variety of platforms, including MT4 and TradingView integration. For spread bettors who want a balance of low spreads, high execution speed, and access to a wide range of markets, City Index is a highly reliable broker.
8. SpreadEx
Spread Betting? Yes
Number of Forex Pairs: 60+
Spreads: From 0.6 pips
- Unique spread betting platform that also includes sports betting
- No minimum deposit requirement, making it a good fit for beginners
- Tight spreads across most major forex pairs
- Strong regulation by the FCA, providing peace of mind for UK traders
- User-friendly platform designed for simplicity
- Limited range of financial instruments compared to larger brokers
- No access to MetaTrader platforms (MT4/MT5)
- Lack of advanced trading features like automated trading or algorithmic strategies
Why it’s great for beginners:
SpreadEx is a fantastic broker for beginners due to its simple and intuitive platform. With spreads starting from 0.6 pips, it offers competitive pricing while making the trading process straightforward. It also has a simple to use proprietary platform which makes it super simple to get up and running quickly. What makes SpreadEx unique is its ability to combine financial spread betting with sports spread betting, making it a multi-functional platform for UK traders. It’s especially well-suited for traders who want to get started with low-risk, small-position spread betting.
£250 recommended deposit
Best Service
Founded in 1999, one of the old-heads in the industry, SpreadEx has won multiple accolades for it's outstanding customer service and great range of markets.
64% of retail investors lose money when trading spread bets and CFDs with this provider.
9. TradeNation
Spread Betting? Yes
Number of Forex Pairs: 33+
Spreads: Fixed, from 0.6 pips
- Simple and transparent pricing structure with fixed spreads, offering cost predictability
- No commission on trades, with tight spreads across major markets
- Excellent customer support, with a reputation for being helpful and responsive
- No minimum deposit requirement, making it accessible for all traders
- Limited range of available instruments compared to other brokers
- No access to MetaTrader platforms (MT4 or MT5), which may not appeal to advanced traders looking for these tools
- Trading features may feel basic for seasoned traders or those needing more advanced tools
- The platform is mainly focused on spread betting and CFDs, which might limit diversity for other investment strategies
Why beginners love it:
With the fewest number of Forex pairs to spread bet (only 33+), TradeNation is all about simplicity and transparency, making it an excellent broker for those just starting out with spread betting. They offer fixed spreads, meaning the cost of trading is consistent no matter the market conditions—which makes it great for forex spread bettors / traders who want predictable costs. While it doesn’t offer as many instruments as the larger players, TradeNation shines for its fixed spread structure and simple, beginner-friendly interface.
£250 Recommended Deposit
Best for Beginners
TradeNation offers a proprietary trading platform with fixed spreads resulting in an easy, reliable trading environment for those just getting started.
10. Global Prime
Spread Betting? No, CFD-only
Number of Forex Pairs: 48
Spreads: From 0.0 pips
- ECN broker with extremely fast execution and low latency, perfect for algorithmic trading
- Regulated by ASIC, ensuring security and trustworthiness
- Offers access to MetaTrader 4, making it ideal for automation and algorithmic traders
- Highly transparent broker with no dealing desk, offering raw market spreads
- Low-cost trading with tight spreads starting from 0.0 pips
- No spread betting options, as it’s a CFD-only broker
- Limited range of instruments compared to bigger brokers like IG or Pepperstone
- No proprietary platform available
Why it’s worth mentioning:
Although Global Prime is a CFD-only broker, it’s a standout for traders who prioritize fast execution and automation. Their ECN model ensures raw spreads starting from 0.0 pips, and they provide VPS services for traders who want to automate strategies using MT4 or TradingView. Global Prime is perfect for traders who need lightning-fast execution without dealing desk interference, making it a top choice for algorithmic and high-frequency traders.
Conclusion
When it comes to finding the best spread betting brokers, the choice really depends on what you prioritize. ActivTrades comes out on top for its tight spreads, multiple awards in the space and platform offering – making it an excellent all-around broker for spread betting in the UK.
For beginners, SpreadEx and TradeNation offer great starting points with straightforward platforms and competitive pricing. Regardless of your experience level, there’s something on this list for every kind of trader.
James is a former FTSE100 AI Director and trader with 10+ years trading his own capital. He is the Managing Director of SpreadBet.AI and currently trades his own capital through both CFD trading & spread betting as well as working with one of the leading prop firms in the world.
