Which UK spread betting brokers are FCA regulated?
Verdict
- Pepperstone, our top pick for UK spread betting, offers it through Pepperstone Limited, authorised and regulated by the FCA under reference 684312.
- Other FCA-regulated spread betting providers include IG Index (114059), Capital.com (793714), CMC Markets (173730), Spreadex (190941), StoneX Trading (446717), OANDA (542574) and ActivTrades (434413).
- FCA regulation brings retail leverage caps, negative balance protection and segregated client money; Pepperstone adds FSCS cover up to £85,000 for eligible clients.
- Spread betting on financial markets is regulated by the FCA, not the Gambling Commission, so always check the firm on the FCA's register.
Spread betting is a regulated investment activity in the UK, so the firm offering it should appear on the FCA's register under the exact company name on your account. Here are the main providers and their FCA references, as each firm publishes them.
Pepperstone Limited: FCA 684312
Pepperstone's UK spread betting account is provided by Pepperstone Limited, a company registered in England and Wales (08965105) with its registered office at 27 Old Jewry in the City of London. It offers spread bets on 1,432 markets in pounds per point, with no commission and a £10 minimum deposit, and it is the provider we rank first for UK spread bettors on cost and platform choice. Note its limits too: no guaranteed stops, and no retail crypto, in line with FCA rules.
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FCA-regulated spread betting providers
| Brand | FCA-regulated company | FCA reference | Guaranteed stops |
|---|---|---|---|
| Pepperstone | Pepperstone Limited | 684312 | No |
| IG | IG Index Ltd | 114059 | Yes |
| Capital.com | Capital Com (UK) Limited | 793714 | Yes |
| CMC Markets | CMC Markets UK plc | 173730 | Yes |
| Spreadex | Spreadex Ltd | 190941 | Yes |
| StoneX Trading | StoneX Financial Ltd | 446717 | Yes |
| OANDA | OANDA UK entity | 542574 | Yes |
| ActivTrades | ActivTrades PLC | 434413 | Not stated in our data |
What FCA regulation gives a spread bettor
- Leverage caps for retail clients: 1:30 on major FX, 1:20 on major indices and gold, 1:10 on other commodities, 1:5 on shares.
- Negative balance protection for retail clients, which Pepperstone, Capital.com, IG, Spreadex and StoneX all state.
- Client money held separately from the firm's own money; Pepperstone says it uses top-tier banks.
- A firm-specific risk warning: Pepperstone's says 73.6% of retail accounts lose money with it on spread bets and CFDs.
- Access to the FSCS if an eligible firm fails; Pepperstone cites cover up to £85,000 for eligible clients.
Spread betting is not gambling regulation
Because spread bets on shares, indices and currencies are financial products, the FCA supervises them. Spreadex shows why the distinction matters: it is FCA-regulated (190941) for financial spread betting and also holds a separate Gambling Commission account for fixed-odds sports betting. When you check a firm, make sure the FCA authorisation belongs to the company running your spread betting account.
Sources
Entity and licence details published by each firm.
Is Pepperstone FCA regulated for spread betting?
Yes. Pepperstone Limited, FCA reference 684312, provides its UK spread betting accounts.
Do spread betting firms need a Gambling Commission licence?
Not for financial spread betting, which the FCA regulates. Some firms, such as Spreadex, also hold a Gambling Commission account for sports betting.
Is IG's spread betting run by a different company from its CFDs?
Yes. IG Index Ltd (114059) handles spread betting and IG Markets Ltd (195355) handles CFDs.
FCA regulation protects how a firm treats your money, not against trading losses. Spread betting is leveraged and high risk, and you can lose money fast. Not investment advice; check each firm on the FCA register.