The UK's Best Financial Betting Sites (2024)
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What is Financial Betting?
Financial betting - which is sometimes also known as spread betting or even financial spread betting - has been around for some time, but it only recently earned mainstream UK appeal. With the market for online casino games such as slots and sports betting somewhat saturated in the UK these days, financial spread betting is seen as being a potential industry growth area.
The idea behind financial betting is that people can place wagers on whether the value of a major commodity - like the pound, gold, or even some of the top stocks - is going to rise or fall. Financial spread betting is essentially a form of trading, which is why it can seem so confusing. Some spread betting sites try to make it more straightforward for newcomers to understand.
However, there is still a lot for people to get their heads around when it comes to financial betting. One of the most important things to point out is that, similar to placing wagers on sports betting exchanges such as Betfair, it is possible to lose significant sums of money. While financial spread betting in the UK certainly can be profitable, it requires a solid understanding of how it all works, as well as a healthy slice of luck, of course. Newcomers to financial spread betting should exercise extreme caution and take it slow and steady when they first get started.
Let's say that someone interested in financial spread betting wants to place a wager on the value of gold. In the event they believe that the price of gold is set to rise, they will place what is known as a 'long' order on their favoured financial betting site in the UK. If the prediction is accurate and the price of gold does rise, the bet wins and the customer wins money. If the user thinks that the price of gold is going to fall, they will instead opt to place a 'short' order. In this example, the customer needs the price of gold to fall for their financial bet to be a winning one.
Profits and losses when financial betting depends on exactly how accurate the prediction was. A big rise in the price of gold means more profits if a long order is placed, and so on and so forth.
The UK's Best Financial Betting Sites Reviewed
The UK has a few top financial betting sites for people to pick from, such as the following sites:
Spreadex
Having been operational since 1999, Spreadex is probably the most famous option in the UK when it comes to financial spread betting, though the site now offers sports betting.
Users who open an account with Spreadex are able to trade indices, shares and FX.
Spreadex claims it is the only firm in the UK to offer two types of sports betting - fixed odds and spread betting - while the site now provides casino gaming and financial trading too.
As Spreadex is authorised and regulated by the Financial Conduct Authority, it is safe and legal to use as a financial betting site.
Betfair
While many people in the UK might know Betfair as a sports betting site and exchange, this is also a top option for people who want to try out financial betting for the first time.
Betfair's best financial betting options include the chance to bet on the rise and fall of stocks, shares, commodities, currencies and indices too.
Top financial spread betting markets include major markets such as the FTSE 100, while a variety of specials are also offered on a regular basis here.
Naturally, joining Betfair for financial betting gives users access to a top sports betting site too.
etoro
Describing itself as the world's social investing platform, etoro can also be considered a major financial betting site in the UK.
With etoro being a multi-asset investment platform, customers who sign up for an account here must be aware that the value of their investments may go up or down.
CFD trading is one of the most popular options on etoro, with users able to potentially benefit from price movements without physical delivery of a particular asset.
At etoro, CFD trading covers commodities, indices, currencies, and stocks - so there are plenty of options for people who want to get started.
Financial Spreads
With more than 1000 spread betting and CFD markets to pick from, Financial Spreads has to be considered one of the very best options in the UK when it comes to financial betting.
As the site offers the chance to try out a free demo account, it is a natural choice for people who are hoping to test out financial betting with little risk being attached.
Due to the fact that tax-free trading is available on several markets at Financial Spreads, this is definitely a strong option for those who want to get started with financial betting in the UK.
IG index
With financial spread bets and CFDs available at IG index alongside stockbroking and plenty of extra other investment options, this is another option to consider for UK financial betting as well.
It is possible to trade more than 18,000+ markets with spread bets and CFDs with an IG index account, so joining the site is a must for those who value being given a lot of choices.
As IG index offers the chance to begin with a demo account, it is handy for those who are new to financial betting in the UK to give it the first go.
City Index
This global spread betting, FX and CFD trading provider are one of the biggest names in the global world of financial betting.
City Index has 40 years' experience in financial markets and, due to the fact that it is backed by StoneX, it can be considered a very trustworthy option for financial betting from the UK. A demo account is offered by City Index and this is recommended as the first port of call for users.
Tight spreads, zero commissions and no tax on profits or stamp duty are among the benefits of using City Index for UK financial betting.
Types of Financial Bets and Where You Can Place Them
There are a few different types of financial betting to be aware of, such as the following options:
- Fixed odds betting: Simple and easy - this works in the same way as normal sports betting
- Spread betting: Payouts in this type of betting depend on the accuracy of the prediction made
- CFDs: More complex, contracts for differences can be deemed a form of financial betting
The UK sites that are listed above will offer some combination of these financial betting options.
Popular Financial Betting Markets
For those who are new to financial betting, getting to grips with the markets is a challenge. To give people a leg up as they get started, here are some popular financial betting markets:
Forex
Probably the most popular type of financial betting market in the UK right now is forex. Standing for foreign exchange, forex betting involves placing wagers on national and regional currencies.
Where it can get complicated is the fact forex betting itself is made up of three categories:
- Forwards market
- Spot market
- Futures market
Forex is often described as the most actively traded market in the world, so this is a natural place to start for anyone in the UK who is thinking about getting started with financial betting.
The idea behind forex betting is that a currency will rise or fall in price relative to other types of currency. As an example, people have the chance to bet on the price of the USD compared to GBP, which at times during 2022 has been very popular due to the crashing of the pound.
Commodities
This refers to basic raw materials such as gold and so on, with commodities without a doubt one of the most popular forms of financial betting in the UK right now.
Placing wagers on the price of commodities such as oil and gold is one of the most common ways that people in the UK choose to get started with forms of financial betting markets.
Some financial betting sites even offer their users the chance to place financial bets on the value of natural gas, corn, and wheat along with common options like gold, silver and oil.
Stocks and Shares
A lot of people in the UK have gotten involved with buying stocks and shares in recent years, but it is also possible to take a financial betting route into this area by placing wagers on these.
For example, some financial betting sites might allow their users to place a wager on the value of a popular stock such as the Facebook owner Meta, which has been very up and down of late.
Many of the biggest stocks in the world, such as Apple, are available on financial betting sites.
Indices
This type of financial betting gives people the chance to place wagers on whether a major index such as the Financial Times Stock Exchange (FTSE) 100 Index is going to rise or fall in value.
Examples of top indices that might be available on some major financial betting sites include:
- Nasdaq 100: This one is a stock market index made up of 102 equity securities
- Dow Jones: This is an index of 30 prominent companies listed on US stock exchanges
- Standard & Poors 500: This tracks 500 large companies listed on US stock exchanges
- Nikkei 225: This is a stock market index for the Tokyo Stock Exchange in Japan
Financial Betting FAQs
What are the best financial betting sites?
What types of financial betting are there?
What is spread betting in finance?
Can you make money from financial spread betting?
Can you bet on stocks?
Steven is an experienced iGaming content writer who has been working in the industry since 2018. He is passionate about sports betting and enjoys writing about all aspects of the industry, including bookmaker reviews, betting tips and strategies, and news and analysis. If you have any questions about online gambling in the UK, please don't hesitate to contact him.