Spread betting is a trading package that the UK and Irish tax residents can use to evade their responsibility to pay tax on trading earnings. Most of the big Forex brokers that serve clients in the UK and Ireland offer this, which can obviously increase the profitability of profitable trading significantly.
The best spread betting broker list here to explore, along with an overview of the selection criteria you should use.
1. Black Bull Markets
In 2014, Black Bull Markets was established in New Zealand. Black Bull Markets is an ECN broker that offers raw spreads and commissions like many other antipodean Forex brokers.
The Financial Services Providers Register (FSPR), which oversees them in New Zealand, limits the maximum leverage on several Forex currency pairs to 500 to 1. Black Bull Markets has locations as branch offices in New York and Malaysia in addition to their worldwide headquarters in New Zealand.
Black Bull Markets offers a limited selection of successful trading, including six significant equity indices, gold, silver, crude oil, and natural gas, along with 27 Forex currency pairs and crosses. That should be plenty for traders with narrowly focused methods who don’t need extensive diversity. This is one of the best uk forex brokers with millions of trustworthy clients.
Avatrade is a user-friendly trading platform to spread bettors. The minimum deposit is $100 or equivalent to another currency, less than many rival spreads. Forex, commodities, indices, and FX options are the available asset classes for spread betting accounts, which is enough for basic cross-asset diversification. Three duplicate trading providers serve spread bettors who are passive.
Higher-end spreads and swaps are included in the commission-free price structure, but overall trading expenses are still within reasonable parameters. Retail spread betting has a maximum leverage of 1:30.
Through its recently spun-off Sharp Trader business subsidiary, Avatrade offers one of the best educational tools for beginning traders. Avatrade has seven regulators, one of the most tightly regulated Forex firms.
3. ETX Capital
Spread betting broker ETX Capital ETX has its headquarters in London and has been in business since 1965. The service exposes you to a huge selection of stocks (over 5,000 instruments in total). Indexes, currency, stocks, bonds, and the metals and energy industries are examples of arenas. The main benefit of ETX Capital is that you can stake 10p per point for most major markets if you only wish to make minor bets at once.
Similar to IG, you can use Negative Balance to prevent your funds from being reduced more than the amount of your account balance. Since our last check, they only provide this for FX and CFDs, and Pro accounts are not eligible for it; only Customers are. Therefore, you will need to rely on the decreased risk of betting lesser sums. This is yet another site that charges no commission in terms of fees. Charges are combined into a single spread, so pay attention on that. However, ETX is also reasonably priced compared to industry standards. The uk forex brokers helps you in trading and provides you the complete guideline of how to trade on a specific platform.
Trading AUD/USD and EUR/USD, for instance, has competitive spreads for spread betting indices and starts at just 0.8 and 0.6 points, respectively. In reality, there is only a 0.1% spread for spread betting on equities in Europe and the United States. For spread betting on the FTSE 100, this decreases to 0.5%, which is even more market leading. The minimum account deposit is merely £100, and you may fund it with a bank transfer or several e-wallets.
Similar to Capital.com, Markets.com concentrates on providing online trading to beginners. This results in a user-friendly interface accessible through the web browser without installation and free of technical jargon.
However, traders should use the same caution they would work on any platform when dealing with contracts for differences or spread betting, as Markets.com primarily offers these two types of trading. Also, remember that even while leverage is limited to UK levels, it is still extremely considerable at 30 times account funding. These amplifiers can lead to both significant immediate gains and losses.
Therefore, we advise starting off by using the platform’s free demo account, which puts no real money at risk. This indicates that you can use spread betting software without risking any actual money.
According to the market you are accessing, fees differ. Indexes, commodities, and currencies, for instance, all have 0% commissions; nonetheless, all fees are adjusted according to the spread. However, regardless of the amount on the line, stocks carry a high fee of $10 for each slide, which is charged both when the trade is opened and closed