For beginners it is not easy to understand the criteria which they need to keep in mind when selecting a spread betting platform. In this article we are going to explore some of the best spread betting platforms for beginners, including FX and Financial spread betting platforms. You can check the differences and similarities between spread betting and cfd trading here.
Broker Review Contents
What should beginner traders look for in a spread betting platform and broker?
Trust and Regulation
Trusting your spread betting brokerage is important, consider brokers which are regulated by top regulators. FCA regulated brokers keep client funds segregated from their company funds. Should a broker become insolvent, the FSCS (Financial Services Compensation Scheme) protects clients in case of a shortfall in the client funds. They cover up to 85,000GBP per trader. Some brokers purchase additional insurance for clients, where in case of broker default, clients are covered for up to 1million GBP.
Customer service
Is customer assistance available 24 hours a day, seven days a week, or 24 hours a day, five days a week? Are they reachable by phone, chat, or email? Some brokers provide clients with personal account managers. These account managers can serve as the client’s point of contact, resolving any difficulties and maintaining a positive connection. Some brokers also provide assistance in a variety of languages.
Platforms
The industry-standard Metatrader 4 and Metatrader 5 platforms are available from the majority of spread betting firms. You can check out our MT4 vs MT5 comparison here. Some even provide platforms that are exclusive to them. It’s crucial to consider whether the platform is simple to learn and whether it’s available on a desktop, mobile device, or web browser.
Educational materials and trading tools
Examine whether the broker provides educational materials for traders of various skill levels. Market analysis is a service provided by some spread betting companies to help traders discover trading opportunities. They also offer webinars to teach new traders how to trade. They can also provide other tools such as analyst reports, signal services, and other similar services.
Markets offered
You have access to a certain amount of markets and symbols. These include FX, Shares, Indices, Commodities etc. Larger spread betting companies are usually able to provide more. Figure out which market you want to trade and pick a broker which offers it.
Funding methods
What options do you have for funding your spread betting account? Are they fast and easy to use?
Best Spread Betting Platforms for Beginners in 2023
AvaTrade
Founded in 2006, Avatrade has established itself as one of the leading brokers in the world of FX, CFDs, and Spread Betting. Regulated by esteemed authorities such as the Central Bank of Ireland, Financial Sector Conduct Authority (FSCA), CySEC, and Australian Securities and Investments Commission (ASIC), Avatrade prioritizes the security of client funds by keeping them segregated from their own company funds. For Spread Betting clients in the UK, Avatrade EU (regulated by the Central Bank of Ireland) is the preferred choice, offering further protection through a compensation scheme.
Avatrade is committed to providing exceptional support to spread betting traders in various languages, including English, Russian, Spanish, Chinese, and Arabic. Their customer service can be accessed via email, phone, and chat, and is available 24/5 for assistance.
In terms of platforms, AvaTrade offer both MT4 and MT5. They also offer their unique platform called AvaTradeGo-another popular platform with retail traders. Spread betting customers should keep in mind that AvaTrade offer spread betting on their mobile and web verion platforms.
AvaTrade has an educational section on its website known as the Education center. They also have trading guides and hold regular webinars to help spread betting traders learn about markets. AvaTrade also have in house market analysts who post market analysis daily, although this is sometimes on and off– so no on a regular basis. AvaTrade also offers clients a feature called Ava Protect which could be useful for some clients as it works like purchasing an insurance product.
In terms of symbols offered when you spread bet with AvaTrade, you can access over 200 symbols across the following markets: Forex, Commodities, Stocks, ETFs, Bonds, and Indices.
Popular funding methods that are available with AvaTrade include: Credit/Debit cards, Bank Transfer, Paypal and Skrill/Neteller.
Pepperstone
Pepperstone, a reputable FX, CFDs, and Spread Betting broker, emerged in 2010 and has since gained significant momentum. With over 90,000 clients who trust them, Pepperstone is regulated by both the Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC). They ensure client funds are segregated from their own company funds, offering an additional layer of security. In the UK, Pepperstone UK caters to Spread Betting clients, who not only benefit from segregated funds but also receive coverage from the Financial Services Compensation Scheme (FSCS). Pepperstone’s strong foundation of trust, regulation, and experience makes them one of the top choices for beginners in the UK seeking a reliable spread betting platform.
Pepperstone offer support in 8+ languages including English, Spanish, Chinese and Arabic. You can contact them via email, phone, whatsapp and chat. They offer support 24/5.
In terms of platforms, Pepperstone offer both MT4 and MT5, the two mainstream trading platforms from Metaquotes. They also offer cTrader platform – another popular platform with retail traders. Metatrader platforms have web, desktop, and mobile versions.
Pepperstone has an educational section on its website with sections on trading forex and shares. They also have trading guides and hold regular webinars to help spread betting traders learn about markets. Pepperstone also have in house market analysts who post market analysis daily. Trading tools in the form of apps (Expert Advisers EAs) for MT4 and MT5 are available. Also, industry leading Autochartist tool can help traders to pick trading opportunities.
Pepperstone offers a wealth of educational resources on its website, including dedicated sections on forex and shares trading. They provide comprehensive trading guides and conduct regular webinars to assist spread betting traders in learning about various markets. Moreover, Pepperstone boasts in-house market analysts who share daily market analysis, providing valuable insights to their traders. To further aid traders, Pepperstone offers trading tools in the form of apps such as Expert Advisers (EAs) for MT4 and MT5 platforms. Additionally, they provide access to the industry-leading Autochartist tool, which empowers traders to identify potential trading opportunities with precision.
In terms of markets and symbols offered, you can access over 1200 symbols across the following markets: Forex, Commodities, Indices, Stocks and Cryptos.
Popular funding methods that are available with Pepperstone include: Credit/Debit cards, Bank Transfer, Paypal and Skrill/Neteller.
VISIT PEPPERSTONE PEPPERSTONE REVIEW
ThinkMarkets
Established in 2010, ThinkMarkets gathered momentum to become one of the leading FX, CFDs and Spread Betting brokers. Regulated by the FCA, FSCA and ASIC, they keep client money segregated from their company funds. Spread Betting clients in the UK are trading with ThinkMarkets UK and further to their funds being segregated, they are also covered by the FSCS. ThinkMarkets have also purchased additional insurance which covers their clients for up to 1million GBP in the event of broker default. This makes them one of the top spread betting brokers in terms of safety of client funds and particularly attractive for high net worth spread betting traders who might want to deposit bigger sums.
ThinkMarkets offer support in 8+ languages including English, Spanish, Chinese and Arabic. You can contact them via email, phone and chat. They offer support 24/7.
In terms of platforms, ThinkMarkets offer both MT4 and MT5. They also offer their unique platform called ThinkTrader– another popular platform with retail traders.
ThinkMarkets has an educational section on its website with sections on trading forex and different asset classes. They also have trading guides and hold regular webinars to help spread betting traders learn about markets. ThinkMarkets also have in house market analysts who post market analysis daily. Trading tools in the form of apps (Expert Advisers EAs) for MT4 and MT5 are available. Also, industry leading Autochartist tool can help traders to pick trading opportunities.
In terms of symbols offered when you spread bet with ThinkMarkets, you can access over 30 symbols across the following markets: Forex, Commodities, and Indices. If you want more symbols, you can try their CFD account which has more than 1000 symbols.
Popular funding methods that are available with ThinkMarkets include: Credit/Debit cards, Bank Transfer and Skrill/Neteller.
VISIT THINKMARKETS THINKMARKETS REVIEW
IG
IG was established in 1974 and since then it has gathered momentum to become one of the leading FX, CFDs and Spread Betting brokers. Regulated by the Financial Conduct Authority (FCA), Financial Sector Conduct Authority (FSCA) and Australian Securities and Investments Commission (ASIC), they keep client money segregated from their company funds. Spread Betting clients in the UK are trading with IG UK and further to their funds being segregated, they are also covered by the Financial Services Compensation Scheme (FSCS).
IG offer support in many languages including English, Spanish, German and Portuguese. You can contact them via email, phone, and chat. They offer support 24/7.
In terms of platforms, IG offer MT4, one of the mainstream trading platforms from Metaquotes. They also offer their unique platform which is one of the best spread betting platforms for beginners. Their platforms have web, desktop, and mobile versions.
IG has an educational section on its website with sections on trading forex and different asset classes. They also have trading guides and hold regular webinars to help spread betting traders learn about markets. They focus on interactive education with online trading courses and IG Academy. IG also have in house market analysts who post market analysis daily. Trading tools in the form of apps (Expert Advisers EAs) for MT4 are available. Trading signals and Pro-real time charts are at your disposal as well.
Finally in terms of markets and symbols offered when you spread bet with IG, you can access
over 17000 symbols across the following markets: Forex, Stocks, ETFs, Commodities, and Indices.
