No, IC Markets does not offer spread betting. IC Markets is an online CFD and forex broker founded in Sydney in 2007, and spread betting is not part of its range.
There is a bigger issue for UK traders. IC Markets is not authorised by the Financial Conduct Authority (FCA), and the FCA has had IC Markets Global on its warning list since 1 October 2024, updated on 10 August 2026. The FCA says the firm “is not authorised by us and may be targeting people in the UK”. If you deal with an unauthorised firm, you can’t use the Financial Ombudsman Service or the Financial Services Compensation Scheme (FSCS).
If you want to spread bet from the UK, use an FCA-regulated provider. These are three alternatives:
- Pepperstone: spread betting on MT4, MT5, cTrader and TradingView.
- IG: the UK’s longest-running spread betting provider, with more than 17,000 markets.
- CMC Markets: a wide range of markets on its own platform.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 69% and 73.6% of retail investor accounts lose money when spread betting and trading CFDs with the providers in this article. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
What is spread betting?
Spread betting lets you bet on whether the price of a market will rise or fall, without owning the asset. You choose a stake per point of movement. If the market moves your way, you win your stake multiplied by the number of points. If it moves against you, you lose the same way.
For example, you bet £2 per point that the FTSE 100 will rise. If it rises 50 points, you make £100. If it falls 50 points, you lose £100.
Every market has two prices. You buy at the higher price (the offer) and sell at the lower price (the bid). The gap between them is the spread, and it’s the main way the provider earns money from you. Positions held overnight also pay a funding charge.
In the UK, spread betting profits are currently free of Capital Gains Tax and stamp duty. Tax treatment depends on your circumstances and can change. HMRC may treat it differently if spread betting is your main source of income.
Spread betting uses leverage. You only put down a deposit (margin), so your gains and losses are based on the full size of the position. FCA rules limit leverage for retail clients to 30:1 on major currency pairs and 5:1 on individual shares.
Does IC Markets offer spread betting?
No. IC Markets offers CFDs on forex, indices, commodities, shares, bonds and futures, but no spread betting accounts.
CFDs work in a similar way to spread betting: you profit or lose from price moves without owning the asset. The main differences for UK traders are tax and regulation. CFD profits are subject to Capital Gains Tax, and IC Markets isn’t authorised by the FCA. A UK client with IC Markets Global is served by Raw Trading Ltd, which is regulated in the Seychelles.
IC Markets alternatives for spread betting
1. Pepperstone
| Feature | Pepperstone |
| Founded | 2010, Melbourne |
| UK regulator | FCA (FRN 684312) |
| Markets | 90+ FX pairs, 1,100+ shares, 20+ indices, 40 commodities and 90+ ETFs |
| Spreads | FX from 0.6 points and gold from 0.1 points (Standard account) |
| Platforms | MT4, MT5, cTrader, TradingView, Pepperstone platform and app |
| Retail accounts that lose money | 73.6% |
Source: Pepperstone, October 2026. Other fees may apply.
Pros:
- Spread betting on MT4, MT5, cTrader and TradingView
- Choice of a Standard account or a Razor account with raw spreads
- No commission on FX, commodities and indices on the Standard account
Cons:
- No real shares or ISA
- Fewer markets than IG or CMC Markets
Pepperstone was founded in Melbourne in 2010 and is popular with traders who use third-party platforms. In the UK, you can spread bet on MetaTrader 4, MetaTrader 5, cTrader and TradingView, as well as Pepperstone’s own platform and app.
There are two account types. The Standard account has no commission on FX, commodities and indices, with costs built into the spread. The Razor account offers raw FX spreads from 0.0 plus a commission from £2.25 per lot per side. Positions held after 10pm UK time pay an overnight fee. Pepperstone Limited is authorised and regulated by the FCA, with firm reference number 684312.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.6% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
2. IG
| Feature | IG |
| Founded | 1974, London |
| UK regulator | FCA (IG Index Ltd, register number 114059) |
| Markets | More than 17,000 |
| Inactivity fee | None |
| Deposits and withdrawals | Free by bank transfer, debit card and credit card |
| Overnight admin fee | 1.5% for FX and 3.4% for other markets, on top of the interbank rate |
| Retail accounts that lose money | 70% |
Sources: IG spread betting and IG charges, October 2026.
Pros:
- More than 17,000 markets
- No inactivity fee and free deposits and withdrawals
- Share dealing and a Stocks and Shares ISA in the same app
Cons:
- Overnight admin fee of 3.4% a year on non-FX positions
- The range of markets and tools can feel overwhelming at first
IG was founded in London in 1974 and says it invented spread betting. It offers more than 17,000 markets, including shares, indices, forex and commodities, and you can open trades on major markets with as little as £5.
IG doesn’t charge an inactivity fee, and deposits and withdrawals are free. To hold a position after 10pm UK time, you pay overnight funding: the relevant interbank rate plus an IG admin fee of 1.5% a year for FX and 3.4% for other markets. Spread betting is provided by IG Index Ltd, which is authorised and regulated by the FCA. IG also offers share dealing and a Stocks and Shares ISA if you want to invest for the long term.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
3. CMC Markets
| Feature | CMC Markets |
| Founded | 1989, London |
| UK regulator | FCA (CMC Markets UK plc, FRN 173730) |
| Markets | More than 12,000 |
| Margin | From 3.34% of the position value |
| Platforms | CMC platform and app. MT4 through a separate account |
| Retail accounts that lose money | 69% |
Source: CMC Markets, October 2026.
Pros:
- More than 12,000 markets on one platform
- Lowest share of losing retail accounts of the three (69%)
- Detailed charting on its own platform
Cons:
- MetaTrader 4 needs a separate account and covers fewer markets
- No TradingView for spread betting
CMC Markets was founded in London in 1989 and is listed on the London Stock Exchange. It offers spread betting on more than 12,000 instruments through its own web platform and app, with margin from 3.34% of the position value. MetaTrader 4 is available through a separate account, but it only covers forex, indices and commodities. CMC Markets UK plc is authorised and regulated by the FCA, with firm reference number 173730.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
Comparison table
| Provider | Spread betting | FCA authorised | Markets | Losing accounts |
| IC Markets | No | No (on the FCA warning list) | CFDs only | Not applicable |
| Pepperstone | Yes | Yes (FRN 684312) | 1,300+ | 73.6% |
| IG | Yes | Yes (114059) | 17,000+ | 70% |
| CMC Markets | Yes | Yes (FRN 173730) | 12,000+ | 69% |
Sources: providers’ websites and the FCA register, October 2026.
How to choose a spread betting provider
- Check the FCA register: only use a firm that is authorised by the FCA, and search the FCA warning list for its name. Offshore brands often offer higher leverage, but you lose the Financial Ombudsman Service and the FSCS.
- Compare total costs: look at the spread on the markets you trade and the overnight funding charge if you hold positions for more than a day.
- Pick the right platform: if you already use MT4, MT5, cTrader or TradingView, Pepperstone supports all of them. IG and CMC Markets have strong platforms of their own.
- Start small: use a demo account first, then a small stake per point, and set a stop loss on every trade.
For more options, see our guide to the best MetaTrader brokers in the UK.
Conclusion
IC Markets doesn’t offer spread betting, and it isn’t authorised by the FCA: IC Markets Global has been on the FCA warning list since October 2024. If you want to spread bet from the UK, choose an FCA-regulated provider. Pepperstone suits traders who use MT4, MT5, cTrader or TradingView, IG offers the widest range with more than 17,000 markets and CMC Markets had the lowest share of losing retail accounts of the three, at 69%.
Spread betting is high risk, and most retail accounts lose money. Only trade with money you can afford to lose.
FAQs
Is IC Markets regulated in the UK?
No. IC Markets is not authorised by the FCA. The FCA added IC Markets Global to its warning list on 1 October 2024 and updated the warning on 10 August 2026. Its UK clients are served from the Seychelles, so they don’t have access to the Financial Ombudsman Service or the FSCS.
Do you pay tax on spread betting in the UK?
Spread betting profits are currently free of Capital Gains Tax and stamp duty for most UK traders. If spread betting is your main source of income, HMRC may treat it differently. Tax rules can change, and losses can’t be offset against other gains.
What are the differences between spread betting and CFDs?
Both let you trade price moves with leverage without owning the asset. With spread betting, you choose a stake per point, and profits are free of Capital Gains Tax in the UK. With CFDs, you trade a number of contracts, profits are subject to Capital Gains Tax and losses can be offset against other gains.
Is spread betting good for the long term?
Usually not. Overnight funding charges build up the longer you hold a position, which makes spread betting better suited to short-term trading. For long-term investing, a Stocks and Shares ISA is usually cheaper and also free of UK tax.
Does Hargreaves Lansdown offer spread betting?
No. See our article Does Hargreaves Lansdown offer spread betting?
Does Trading 212 offer spread betting?
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Does Interactive Brokers offer spread betting?
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