We’ve compiled a list of spread betting accounts that, we feel, are appropriate for beginners. They offer various ways of limiting the significant risk of losses that a standard spread betting account may expose traders to.
Below, we’ve put together a short guide on each of the types of account available, and what they mean.
Low Stake Spread Betting Platforms for Beginners
|The Spread Co Mini Markets Account enables traders to spread bet from 10p per point on a range of Indices, Commodities and Currencies. There’s flexibility to increase stake sizes as you gain in confidence. See our full Spread Co review||go to site|
|ETX Capital enable new clients to trade on their platform from 25p per stake across a range of indexes, currencies and commodities. See our full ETX Capital review||go to site|
|IG offer new spread betting clients with the opportunity to build their confidence with reduced minimum bet sizes within the first two weeks of opening an account. You’ll be able to trade a 50% smaller bet size for those two weeks on an industry leading range of Indices, Commodities and Currencies. See our full IG review||go to site|
|FxPro have introduced a minimum stake size of 10p on all of their Spread Betting accounts across their entire range of markets. There is no time limit on their low stake offering, meaning beginners can take the time they need to become accustomed to spread betting. See our full FxPro review||go to site|
|GKFX provide spread betting clients with the option to trade from a minimum of 10p per stake across a range of forex pairs, commodities and indices.||go to site|
You can see our complete list of Spread betting companies which features a detailed 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, then it’s worth taking a minute or two to read our short guide. Get into some good habits at the outset.
Now, you might have been on a bulletin board and received heady advice from a group of seasoned traders or read everything you can through books, independent websites like this one and 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 – 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.
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 and 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 or insight into the key factors that determine pricing in those markets.
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, meaning 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.
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.