With over 15 FCA-regulated spread betting providers in the UK, choosing the right one matters. Here are the eight factors you should evaluate before opening an account.
1. Spreads and Fees
The spread is your primary cost on every trade. Even small differences compound over hundreds of trades. Compare spreads on the markets you actually trade — a broker with tight forex spreads might have wide index spreads, or vice versa. Also check for overnight financing charges if you hold positions beyond the trading day.
2. Platform Quality
You will spend hours on your trading platform. It needs to be fast, reliable, and intuitive. Key things to test (use the demo account):
- Chart quality and drawing tools
- Order execution speed
- Customisable workspace
- Mobile app reliability
- Watchlist management
3. FCA Regulation
Only use FCA-regulated brokers. This gives you:
- FSCS protection up to £85,000 if the broker goes bust
- Negative balance protection — you cannot lose more than your deposit
- Segregated client funds — your money is kept separate from the broker's
- Leverage caps — protecting you from excessive risk
Verify any broker's FCA status at register.fca.org.uk before depositing money.
4. Market Range
Make sure the broker offers the markets you want to trade. Some focus on forex, others on shares. The range varies significantly:
- IG: 16,000+ markets
- CMC Markets: 12,000+ markets
- Saxo: 9,000+ markets
- Plus500: 2,800+ markets
5. Trading Tools
Advanced charting, technical indicators, news feeds, economic calendars, and research tools. If you use algorithmic trading, check for API access or compatibility with platforms like ProRealTime, cTrader, or MetaTrader.
6. Customer Support
When something goes wrong mid-trade, you need help fast. Test the support channels before you need them: live chat response time, phone availability, and email turnaround. UK-based support teams are preferable for spread betting queries.
7. Costs Beyond Spreads
Watch for hidden costs: inactivity fees, withdrawal charges, currency conversion fees, and data subscription costs. Most major brokers have eliminated the worst of these, but always check the fee schedule.
8. Demo Account
A good demo account lets you test everything risk-free. Check that the demo mirrors the live platform (some brokers use different pricing or execution on demo accounts). Ideally, the demo should not expire after 30 days — you want to practise as long as you need.
Our Quick Picks
- Best overall: IG
- Best spreads: Pepperstone
- Best platform: CMC Markets
- Best for beginners: Capital.com
See our full broker rankings for detailed scores across all six dimensions.
