First of all, professional CFD and spread betting accounts are not for everyone. I’ve been involved in spread betting and CFDs for about twenty years, but of late there has been a real move to make CFDs and spread betting mass-market products. However, they are not.
There are about 150,000 active traders in the UK, about 340,000 in EMEA and only about 100,000 in the US. Which is not really a lot, when you think about the size of the overall investing markets.
Trading spread betting (compare spread betting brokers here) and CFDs (compare CFD brokers here) is very risky and as per the new ESMA required risk warnings around 75% of traders lose money. But who knows what that is based on, or how accurate the reporting is, or even if it’s even relevant.
But never the less, traders will trade and they will want to make the most efficient use of their risk capital by searching for a broker that offers the best margins, rates and access.
How to compare professional trading accounts?
The key differences between brokers offering professional trading accounts are:
- Margin rates
- Commission rates
- Spread width
- Additional/restricted market access
- Voice brokerage/personal account managers
Where to compare professional trading accounts?
Brokers are a bit fussy about comparison sites comparing margin rates so we’ve put together a comparison table of brokers that offer professional trading accounts.
All brokers in our professional trading account list are regulated by the FCA and offer higher leverage to traders that can prove they are of professional status. In some cases, these brokers will offer discounted commission rates for high volume traders.
There are of course risks upgrading your account to professional status and disadvantages with going offshore with an ASIC regulated broker.
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Richard started the Good Broker Guide in 2015 and has been a broker for 20 years most recently at Investors Intelligence and previously a multi-asset derivatives broker at MF Global (Man Financial). Richard started his career working as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson) after interning on the NYMEX oil trading floor in New York and London IPE in 2001 & 2000.