Is Pepperstone or IG better for spread betting in the UK?
Verdict
- For most UK spread bettors we prefer Pepperstone: its published EUR/USD spread betting minimum is 0.5 against IG's 'from 0.6 points', and it supports cTrader alongside MT4, MT5 and TradingView.
- IG is the better choice if you want guaranteed stops (free to place, premium only if triggered) or ProRealTime and L2 Dealer.
- Both are FCA-authorised: Pepperstone Limited (684312) and IG Index Ltd (114059), IG's spread betting company.
- Pepperstone's spread bets carry no commission; overnight fees apply after 10 pm UK time.
Both firms offer spread betting to UK residents under FCA authorisation, so the choice comes down to price, platforms and order types. On price and platform choice the published facts favour Pepperstone; on risk tools, IG has the edge.
Why we pick Pepperstone for spread betting
Pepperstone publishes spread betting minimums market by market: EUR/USD 0.5, GBP/USD 0.8, US500 0.4, GER40 0.9, UK100 and NAS100 1, and spot gold 0.1. You stake in pounds per point, pay no commission, and can trade from Pepperstone's own platform, MT4, MT5, TradingView or cTrader. Pepperstone states that UK spread betting profits are exempt from capital gains tax, adding that tax treatment depends on your circumstances.
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Pepperstone and IG spread betting side by side
| Pepperstone | IG | |
|---|---|---|
| FCA entity | Pepperstone Limited, 684312 | IG Index Ltd, 114059 |
| EUR/USD | Minimum 0.5 | From 0.6 points |
| Commission | None | None on standard spread bets |
| Guaranteed stops | Not offered | Yes, premium only if triggered |
| Platforms | Own web/app, MT4, MT5, TradingView, cTrader | Own web/app, MT4, MT5, ProRealTime, L2 Dealer, TradingView |
| Negative balance protection | Yes (retail) | Yes (UK) |
| Minimum deposit | £10 by card | No minimum by bank; £1 per card (another IG page says £250) |
What a tenth of a point means in pounds
At £10 a point on EUR/USD, Pepperstone's 0.5 minimum costs £5 per trade and IG's 0.6 'from' figure costs £6. Both are best-case numbers; neither firm's average spread betting spread is in our data. For a trader placing 40 such bets a month, that published gap is worth £40 at those minimums.
Where IG is the stronger choice
If you check IG on the FCA register, note that it uses two companies: IG Index Ltd for spread bets and IG Markets Ltd (195355) for CFDs.
- Guaranteed stops: IG offers them, free to place and charged only if triggered. Pepperstone's UK terms say stops cannot be guaranteed.
- ProRealTime and L2 Dealer for traders who already use them.
Sources
Spread betting terms as published by each firm.
Is Pepperstone cheaper than IG for spread betting?
On published EUR/USD minimums, yes: 0.5 at Pepperstone against IG's from 0.6 points. Neither publishes an average spread betting spread in our data, so check live prices on the markets you trade.
Does Pepperstone offer guaranteed stops on spread bets?
No. Pepperstone's UK terms say it cannot guarantee stop-loss execution at a set level. IG and several other UK brokers offer guaranteed stops.
Can I spread bet on MetaTrader with Pepperstone?
Yes. Pepperstone's spread betting account runs on MT4 and MT5, as well as TradingView, cTrader and its own platform.
CFDs and spread bets are leveraged, complex products, and you can lose money quickly. Pepperstone Limited reports that 73.6% of its retail investor accounts lose money trading them; other providers publish their own figures. Nothing on this page is investment or tax advice.