Best Spread Betting Sites and Brokers for 2024

OANDA

OANDA Review

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The name OANDA is an acronym for “Olsen & Associates” or “Olsen AND Associates”. It is registered in the United States and provides its clients with a wide range of financial services in most countries of the world. The company was founded in 1996 and is currently regulated in four jurisdictions. The main regulator of the broker is the UK Financial Conduct Authority (FCA). Oanda Canada is licensed by IIROC. The company has several significant awards to its credit, including a victory in the category "Best Forex Trading Technologies" from the UK Forex Awards, "Best Trading Platform" from FX Week, as well as "Best Customer Service" from the US Foreign Exchange Report.

IG Markets

IG Markets Review

IG Markets has been providing brokerage services for retail traders since 2014. It was established in 1974 in London to work with professional traders. It is a part of the IG Group with representative offices in 17 countries. IG Markets stocks are traded on the London Stock Exchange as a part of the FTSE 250 index. The broker is regulated by FCA (Financial Conduct Authority | the UK), CySec (Cyprus Securities and Exchange Commission), ASIC (Australian Securities and Investments Commission), BaFin (the Federal Financial Supervisory Authority | Germany), FINMA (Swiss Financial Market Supervisory Authority), and NFA (National Futures Association). The IG Group global representative office is supervised by BMA (the Bermuda Monetary Authority). The broker provides services of trading Forex and different CFDs through MetaTrader 4 and its in-house platforms for retail and professional traders.

FOREX.com

FOREX.com Review

Forex.com is a company owned by GAIN Capital Holdings, Inc. (NYSE: GCAP) and has earned a reputation as a reliable broker in the trading industry for its transparent work and high quality of services. The company cooperates with clients in 140 countries. The broker is registered in the Cayman Islands and supervised by CIMA (Certified Institute for Management Accountants). The license number is 25033. The parent company of the Forex.com broker is registered in England and Wales under the number 1761813 at the UK Companies House. It is licensed by one of the most reputable regulators in the world, FCA (No. 113942).

Vantage Markets

Review

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Vantage Markets is a multi-asset broker that has been operating since 2009. The company operates under the licenses of four regulators – the UK (FCA, 590299), Australia (ASIC, 428901), Vanuatu (VFSC, 700271), and South Africa (FSCA, 51268). Over the years, Vantage Markets has received numerous accolades and prestigious awards. Read more about Vantage Markets Available Countries.

FxPro

FxPro Review

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The FxPro broker was registered in July 2006 in Cyprus. The company’s activities are licensed by financial regulators: CySEC, 078/07 (Cyprus), Bahamas SCB (SIA-F184), FCA, 509956 (UK), and South African FSCA (45052). FxPro is successfully operating in more than 170 countries for retail and institutional clients. The broker has received more than 85 awards, including “Best Forex Trading Platform” and “Best Trading Platform”. FxPro has become known for providing the best trading tools. With FxPro broker, traders can trade more than 70 currency pairs, futures and stocks (Twitter, Apple, Google). The broker has over 2,100 trading assets in its pool, including cryptocurrencies, which are subject to the account type. The basic set of assets is available on cTrader accounts, the full set is available on accounts opened on MT4 and MT5. FxPro sets high safety standards with the client's funds being kept in large international banks. They are insured and separated from the broker's equity.

XTB

XTB Review

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The X Trade Brokers (hereinafter “XTB”) is registered in Belize and provides a fairly extensive list of financial services to traders. The company was incorporated in 2002 and its financial regulator is the Belize International Financial Services Commission (FSC, 000302/438), CySEC (169/12), FCA (522157). The broker has offices in Spain, Poland, and the UK, where it is authorized and regulated by the National Financial Supervision Commissions. The XTB is focused on working primarily with European investors. It has several significant awards, including the Best Broker in Europe award by Global Banking & Finance Review and Best Financial Teacher by World Finance Exchange & Brokers.

HYCM

HYCM Review

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HYCM company is a division of Henyep Group. It has been trading on the Forex market for over 40 years. The broker has earned 15 awards since it commenced trading. Among these awards, broker has won the Best Forex Broker Award in 2019 and Best Mobile Trading Platform by World Finance in 2017. The company provides services to both private and institutional traders. It offers a wide selection of trading tools allowing traders to trade currency, precious metals, securities, cryptocurrency, etc.

Plus500

Plus500 Review

Plus500 is an international fintech holding that offers CFD and options trading worldwide through its network of branches, as well as futures trading in the U.S. The company was established in 2008 in the United Kingdom. It is regulated by the FCA, as well as by 9 financial supervisory authorities in other countries, such as CySEC (Cyprus), ASIC (Australia), MAS (Singapore), FSCA (South Africa), among others. Plus500 is listed on the London Stock Exchange (ticker: PLUS) and is part of the companies that make up the FTSE 250 stock index. Plus500 is a reliable intermediary for accessing financial markets, used by over 25 million traders worldwide.

CMC Markets

CMC Markets Review

CMC Markets is one of the leading companies in Forex and CFD trading, founded in 1989. The broker is regulated by the FCA 173730 (UK Financial Conduct Authority). The company provides a wide range of trading assets, including indices, stocks, and cryptocurrencies. Solid experience in the financial services market, regulation in the UK, and segregated accounts for clients are the foundation of a high level of traders' trust. The broker also has a risk management program. CMC Markets is popular in many countries, for example, in Australia.

ThinkMarkets

ThinkMarkets Review

ThinkMarkets was launched in 2010 and has grown to offer Forex & CFD trading services globally since then. ThinkMarkets is duly licensed by the FCA (629628) in the UK, ASIC (ACN: 158 361 561) in Australia, CySEC (215/13) in Cyprus, JFSA (1536) in Japan, FSCA (49835) in South Africa, and the FSA (SD060) in Seychelles. With ThinkMarkets, one can trade more than 3,500 global assets, including Forex, Indices, Commodities, Shares & ETFs, CFDs, and Crypto CFDs. ThinkMarkets is an award-winning broker with offices in several countries of the world, in particular in Johannesburg (South Africa), Tokyo (Japan), Limassol (Cyprus), Dubai, London (the United Kingdom), and Melbourne (Australia).

FXCM

FXCM Review

FXCM Markets company incorporated in Bermuda and provides a wide range of financial services for traders almost all over the world. The company was founded in 1999 and registered in Great Britain. It is regulated by the independent nongovernmental organization of Great Britain — Financial Conduct Authority (FCA). Broker’s registered license number — 217689. The FXCM Group has several significant awards such as: prizes in the "Best Trading Tools” category and the "Best Customer Support 2018" by FXEmpire.

Hantec Markets

Review

The Hantec Markets (also, Hantec) broker was founded in Hong Kong in 1990. Initially, the company focused only on the Chinese and Taiwan markets, providing classic services on OTC financial markets. In 2008, the broker was rebranded and offices were opened in Australia, Great Britain, Japan, and other countries during the next two years. Today, Hantec is a multinational company with 18 offices in the European and Asian regions and is licensed by six regulators.

How to Spread Bet?

Here is how to place a spread bet in a few simple steps:

Choose an asset

In the beginning, you have to select an asset to bet on.

Select to buy or sell

If you think the price will rise, you have to choose “buy.” But if you think the price will fall, choose “sell.”

Select the bet size

Choose how much money you want to risk per unit of movement.

Add a stop loss or take profit

A stop-loss will automatically close the spread bet if it falls under a certain price, while a take profit will close the spread bet if it reaches a certain profit.

Monitor the trade

Each spread bet can be closed at any time if you are happy with the profits it generated. Sometimes, it is better to close it earlier with smaller profits than later with bigger losses.

Spread Betting and Taxation

One of the advantages of spread betting in comparison to other types of investment is that it is not taxed. In the UK, spread betting is considered betting by law, and betting is free from Stamp Duty and CGT. But some people might have to pay tax for betting profits if that is their only source of income.