We’ve compiled a list of spread betting platforms for beginners to help get you get started. They offer various ways of limiting the significant risk of losses that a standard spread betting account may expose traders to.
Below, we have put together a short guide on each of the types of account available, and what they mean.
Low Stake Spread Betting Platforms for Beginners
| Broker | Minimum Deposit | Markets | Products |
|---|---|---|---|
Pepperstone | £0 | Bonds Commodities Currencies Indices Stocks & Shares | CFDs FX Spread Betting |
| With a strong focus on the trading experience, industry leading technology, low costs and award-winning client support, we feel that Pepperstone is a good option for the more established high volume day trader. | |||
CMC Markets | £0 | Bonds Commodities Currencies Indices Stocks & Shares | CFDs FX Spread Betting |
| FTSE 250 listed broker CMC Markets offers Spread Betting, CFDs, FX and Options trading. With access to over 12,000 instruments, this FCA listed broker has more than 1 million clients globally and is a great all-round option for all levels of trader. Risk Warning: 68% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets, CFDs, OTC options or any of our other products work and whether you can afford to take the high risk of losing your money. | |||
Trade Nation | £0 | Bonds Commodities Currencies Indices Stocks & Shares | CFDs FX Spread Betting |
| Trade Nation offer something a little different for traders. You won't find research or educational tools - the emphasis is on trading, so pricing and fees can be kept low. | |||
IG | £0 | Bonds Commodities Currencies Indices Stocks & Shares | CFDs ETFs FX Futures ISA Spread Betting Stocks & Shares |
| Widely recognised as the largest broker of its kind for CFDs and Spreadbetting, IG has now expanded its services to include Equities and ETF trading. Their range of markets is wide reaching while both trading and share dealing costs are low. We really like their Smart Portfolio's which are ideal for inexperienced investors to gain exposure to the markets. With deeper pockets to invest in their services than most brokers, IG's platform suite and trading support tend to lead the way. IG is a good all-rounder for novice through to experienced traders and investors. Risk Warning: Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. | |||
Accendo Markets | £0 | Bonds Commodities Currencies Indices Stocks & Shares | CFDs FX Spread Betting |
| We've got to know the team over at Accendo Markets pretty well over the last few years. They always have time for their clients, whether that's welcoming them to their offices in Aldgate, or through their dedicated account management team over the telephone. If you are new to trading, they'll make sure you get the support you need at the outset. If you are looking for a knowledgeable, personal service from your CFD, Spreadbetting or Forex broker, you won't go wrong with the Accendo Markets team. | |||
You can see our complete list of Spread betting brokers here. It features a review of each broker and our independent opinion of them. Please note that some of the brokers mentioned above are affiliates. While there would be no cost to you, for transparency, we may receive a fee should you open an account.
Choosing the right spread betting platform for beginners
If you are new to spread betting and haven’t placed any kind of trade before now, you should take a minute or two to read our short guide. You will get into some good habits at the outset.
Now, you might have been on a bulletin board or Twitter and received heady advice from a group of seasoned traders. You may have read everything you can through books and independent websites like this one, too. Or you may have visited some of the many Broker websites for their advice.
There is so much information available, it can become a bit overwhelming. You may still be no nearer to making a decision on what products to trade or who you are going to trade with.
That’s why we put together the selection of spread betting platforms for beginners above. These spread-betting accounts provide a way for you to earn your stripes. You can start trading without the risk of losing all of your hard earned money.
The most important part of this process is to find out if spread betting is right for you. To do that, you need to make the most of the tools that are available to you as a spread-betting novice.
Start with the basics
I’m making an assumption here.
You’ve read up on spread-betting and understand the principles behind it. The risks you face and the tools you have at your disposal in order to minimise that risk.
If you haven’t done that yet, take a look at our spread betting introduction. Make sure that margined trading is something you fully understand and are comfortable with.
I’m also going to assume that you are familiar with the variety of financial markets that are available to trade through a spread betting account. Consquently, you have identified the ones you are going to trade.
Take a look at our short guides to some of the most popular markets if you need some inspiration. Our guides will give you an insight into the key factors that determine pricing in those markets.
Demo Accounts
You’ve probably considered opening a demo account and indeed, may have already taken the plunge.
If you haven’t, it’s worth investing some time.
Take a look at our spread betting demo account guide to find out how you can use them to enhance your trading education. The article covers some of the things you should look for in your broker, even before you commit to opening a demo account.
Right, so now we’ve covered off what’s needed before you begin to trade with real money. You can start looking at live spread betting platforms for beginners.
The spread betting accounts we have introduced you to above will offer you access to the financial markets with a lower degree of risk. With real money at stake, it’s not a good idea to jump straight in and risk it all.
Low Stake Spread Betting Platforms for Beginners
Generally, spread betting brokers will offer their clients a minimum stake of £1 per point.
That means you could lose a minimum of £100 on the FTSE100 should the market go against you by 100 points over the course of your trade.
A low stake account reduces the minimum stake you can place. It means that a similar trade with 10p per point would result in a maximum loss of £10.
Even with that kind of extreme movement, that trade is going to dent your pride much more than your wallet.
There is, however, a downside to Low Stake Accounts.
That is, when you get your trades right, you won’t stand to gain any sizeable profits either. However, once you have your trading strategy in place and you are comfortable with the results, you’ll be ready to start increasing your stakes.
Islamic accounts
Muslims are typically advised to open Islamic accounts that practice Shariah principles. These Islamic spread betting accounts are also known as swap-free accounts. They are halal trading accounts in which interest is not accumulated, collected or paid. These accounts do not make use of futures and forward contracts. All transactions (including the transaction cost) take place without any delay. You can read our thoughts on whether trading is Halal or Haram. You’ll also be able to explore a selection of regulated brokers that offer permissable accounts.
I’ll add to this list as and where the brokers develop new spread betting platforms for beginners. If you find a broker that you think would fit nicely in our spread betting platforms for beginners list, feel free to let us know through the comments section below.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Over 70% of retail investor accounts lose money when trading spread bets and CFDs. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
