Traders Union Revealed the Top Spread Betting Platforms in the Market

By
April 17, 2023

Spread betting has become increasingly popular among experienced traders due to its potential for high profits. However, to fully enjoy the benefits of spread betting, it is crucial to select a reliable broker.

Traders Union has extensively researched the best-spread betting platforms and developed a comprehensive rating system. This highlights that opting for a spread betting platform with a high rating can enhance traders’ likelihood of succeeding in the market.

What is spread betting?

According to Traders Union, spread betting involves speculating on the price movements of various financial markets, such as forex, indices, commodities, and shares. Traders don’t actually own the underlying asset; instead, they bet on whether its price will rise or fall. Profits or losses are determined by the stake multiplied by the number of points the market moves in or against the trader’s favor. Traders can close their bets at any time before the set expiry date.

How to choose the best spread betting broker?

When it comes to choosing a spread betting broker, Traders Union experts have listed several important factors to consider:

  • Regulation: Preferably by the Financial Conduct Authority (FCA) for UK traders. This guarantees a certain level of fund safety and broker accountability.
  • Low spreads and commissions: Spread betting brokers profit from the spread, so low spreads and no additional commissions benefit traders.
  • Asset variety: A wider range of available assets provides more opportunities for traders to take advantage of market movements.
  • Demo account availability: This allows beginners to practice trading strategies in a risk-free environment. Ideally, the demo account should be free and without time limitations.
  • Low minimum bet sizes: Particularly important for beginners who might not want to risk large amounts per point of movement.
  • Reliability: Including fast trade execution and favorable trading conditions. User reviews can be a good source of information about a broker’s reliability.
  • Low leverage: High leverage can magnify profits and losses, so it’s generally safer for beginners to stick with brokers offering lower leverage.

Best spread betting platforms in 2023

TU has researched and reviewed the best-spread betting platforms for Forex trading in 2023. Here are the top platforms with their unique features and benefits.

FxPro

FxPro, established in Cyprus in 2006, is a regulated broker serving retail and institutional clients in over 170 countries. They offer low spreads, MetaTrader, proprietary trading platforms, and negative balance protection. The broker is also included in the top 10 Forex brokers in the world, which indicates its reliability.

IG

IG Markets is a UK broker regulated by the FCA, offering spread betting, CFDs, Forex, stocks, and cryptocurrencies. Their spreads start at 0.6 pips, offering a proprietary trading platform and a demo account.

FXCM

FXCM Markets, established in 1999 and regulated by FCA, ASIC, and CySEC, offers forex, stocks, indices, and more. They have multiple trading platforms, including MetaTrader, and offer a demo account. Spreads start at 1.3 pips.

Pepperstone

Pepperstone, founded in Australia in 2010, is regulated by FCA and ASIC and offers low fees, fast execution, and low spreads starting at 0.0 pips. They use popular trading platforms and offer spread betting. A demo account is available for one month.

CMC Markets

With over 30 years in the business, CMC Markets is a trusted broker offering CFDs for stocks, commodities, cryptocurrencies, and forex. Regulated by FCA, ASIC, FMA, and MAS, it has low spreads and quick trade execution. Fees apply for overnight spread betting positions.

Conclusion

Spread betting platforms are crucial for traders to succeed in this high-risk, high-reward market. Each of the reviewed brokers offers unique features, benefits, and drawbacks, and traders should carefully consider their needs and preferences before deciding. Traders Union’s research and ratings can provide valuable guidance in this process; visit the website to know more.