Which spread betting brokers offer demo accounts?
Verdict
- Pepperstone is the spread betting provider we would learn with: its UK spread betting account runs on all five of its platforms, so practice on any of them carries straight over to live trading.
- Practice-account terms such as duration and virtual balance are not part of the documents we reviewed for any firm, so check them on each provider's sign-up page.
- The point of practising spread betting is the arithmetic: stake per point, margin, overnight fees and how fast a loss builds at £1, £2 or £5 a point.
- Going live, Pepperstone asks a £10 minimum; Capital.com 20 GBP and Spreadex £5, and both of those offer guaranteed stops, which Pepperstone does not.
Spread betting has its own maths, and a practice account is the cheapest place to get it wrong. We pick Pepperstone because one spread betting account works on its own app, MT4, MT5, cTrader and TradingView. Here is what to rehearse and how the main providers compare once you go live.
Why Pepperstone for learning spread betting
Most providers tie spread betting to one in-house platform. Pepperstone Limited (FCA 684312) lets its UK spread betting account connect to every platform it offers, so you can learn on the simple Pepperstone app and later move to TradingView charts or MetaTrader automation without changing account. Stakes are in pounds per point, there is no commission, and Pepperstone says profits are exempt from capital gains tax. Confirm on Pepperstone's sign-up page what practice access it currently provides.
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What to rehearse before risking real pounds
- Stake sizing: at £2 a point, a 40-point move is £80. Work out your loss at the stop before every practice bet.
- Margin: at the 1:20 retail rate on a major index, £2 a point at 9,000 points controls £18,000 and needs about £900.
- Overnight fees: hold a bet past 10 pm UK time and watch the financing charge appear.
- Stops: set one, move it, then watch how it behaves in a fast market; Pepperstone does not guarantee stop levels.
- Closing partially: practise reducing a stake rather than closing the whole bet.
How spread betting providers compare once you go live
| Provider | Minimum deposit | Guaranteed stops | Platforms |
|---|---|---|---|
| Pepperstone | £10 | No | Own app, MT4, MT5, cTrader, TradingView |
| Capital.com | 20 GBP | Yes | Web, app, MT4, MT5, TradingView |
| IG | None by bank transfer, £1 by card | Yes | Web, app, MT4, MT5, ProRealTime, TradingView |
| Spreadex | £5 | Yes | Web, apps, TradingView |
| StoneX Trading | None (£100 per card payment) | Yes | Web Trader, apps, MT4, TradingView |
The step from practice to live
Start live at the smallest stake you can, on the same platform you practised on. Expect results to be worse than in practice: real fills can slip, and real losses change how you trade. Pepperstone reports that 73.6% of its UK retail accounts lose money on spread bets and CFDs. Negative balance protection means a retail spread betting account cannot go below zero, but you can still lose everything in it.
Sources
Account and platform terms as published by the providers.
Can I practise spread betting on TradingView?
Pepperstone connects its live UK spread betting accounts to TradingView. Check its sign-up page for whether practice accounts include it.
How much should I stake when I move from practice to live?
The smallest stake your provider allows, sized so that the loss at your stop is a small share of your balance.
Is a practice account the same for spread bets and CFDs?
The platform may look the same, but spread bets are staked in pounds per point and CFDs in lots or contracts, so practise on the product you will trade.
Practice results are simulated and do not predict live performance. Spread betting is complex and leveraged, and you can lose money rapidly. This page is not investment advice.