Which broker is best for spread betting on the FTSE 100?
Verdict
- Pepperstone is our pick for spread betting the FTSE 100: its UK100 spread bet has a published minimum spread of 1 point, no commission, and runs on MT4, MT5, TradingView, cTrader and Pepperstone's own platform.
- Pepperstone's index data shows a 1.5-point average on the UK100 for Razor; a separate spread-bet average isn't published, so treat 1 point as the best case.
- Pepperstone doesn't offer guaranteed stops. If you want one on FTSE bets, IG, CMC Markets, Capital.com and Spreadex all sell them.
- Pepperstone says UK spread betting profits are exempt from capital gains tax, though tax treatment depends on your circumstances and can change.
If you spread bet the FTSE 100 actively, cost per point and platform choice matter most, and that is where Pepperstone leads among the firms we track. Here is how its UK100 pricing works out per bet, where rivals have an edge, and the checks worth making before you fund an account.
Why Pepperstone gets our vote for FTSE 100 bets
Pepperstone Limited (FCA 684312) prices the UK100 spread bet from 1 point, the same minimum as its Razor CFD and tighter than the 1.2 on its Standard CFD. There is no commission on spread bets: you stake pounds per point and the spread is your dealing cost. Unusually for a spread betting firm, the account works on all five of Pepperstone's platforms, so you can bet on the FTSE straight from TradingView charts or run an expert advisor on MT4 or MT5. Card deposits start at £10, and eligible clients are covered by the FSCS up to £85,000.
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UK100 cost per bet at different stakes
The minimum is a best-case figure. The average comes from Pepperstone's index-fees page (Razor CFD, August 2026 data) and is a fairer guide to what you'll pay over time; the Standard CFD averages 1.9.
| Stake | At 1 point | At 1.5 points |
|---|---|---|
| £1 per point | £1 | £1.50 |
| £5 per point | £5 | £7.50 |
| £10 per point | £10 | £15 |
| £25 per point | £25 | £37.50 |
Where other spread betting firms are stronger
Every FCA-regulated spread betting firm in our fact pack has one feature Pepperstone lacks: a guaranteed stop. None of them publishes an FTSE 100 spread on the pages we verified, so we can't rank them on price.
- IG (IG Index Ltd, FCA 114059): guaranteed stops are free to place, with a premium charged only if triggered.
- CMC Markets (FCA 173730): charges a fee to attach a guaranteed stop and refunds it in full if the stop isn't hit.
- Capital.com (FCA 793714): spread betting accounts and guaranteed stop-loss orders, with a £20 minimum deposit.
- Spreadex (FCA 190941): guaranteed stops and deposits from £5, but it runs on its own platform and TradingView, without MetaTrader.
Margin on an FTSE 100 bet
UK retail rules cap major-index leverage at 1:20, so margin is 5% of your exposure. A stake of £10 a point with the index at 10,000 (a round number for the maths) is £100,000 of exposure and needs £5,000 of margin; every 10-point move is £100 for or against you. Pepperstone returns a retail account that goes negative to zero, but that protection doesn't apply to Professional clients.
Before you place your first FTSE bet
- Bets still open after 10 pm UK time pay an overnight fee.
- Stops can slip in a gap: Pepperstone's UK terms say it can't guarantee that stop-loss orders fill at a set level.
- Tax: Pepperstone says spread bets carry no CGT or stamp duty, while CFD profits are subject to CGT; your own position may differ.
- Base currency can be GBP, USD, EUR or CHF; a GBP account keeps FTSE results in pounds.
Sources
Is the FTSE 100 spread the same on spread bets and Razor at Pepperstone?
The published minimum is 1 point on both. The Standard CFD minimum is 1.2.
Can I use TradingView to spread bet the FTSE 100?
At Pepperstone, yes: TradingView is one of the five platforms on the spread betting account.
Which firms offer guaranteed stops on FTSE spread bets?
IG, CMC Markets, Capital.com and Spreadex all list guaranteed stops. Pepperstone does not.
Spread bets and CFDs are complex instruments that use leverage, so losses can build quickly. Only trade with money you can afford to lose. We are not giving investment advice, and the broker figures quoted here can change.