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Forex broker Pepperstone has launched spread betting in the UK.
The key difference between spread betting and CFDs is that as financial spread betting is structured as a bet, profits are tax-free (of capital gains tax).
Spread betting and CFD trading essentially offer the same benefits, i.e. being able to trade on margin and not actually owning the underlying instrument. Unlike buying the actual physical shares through a stockbroker you also don’t have to pay stamp duty on purchases.
In the past CFD trading was reserved for larger accounts as you can trade DMA CFDs and place orders directly on exchange, however, as the tax benefits of spread betting are not available anywhere else in the world CFDs gradually because the default product for smaller traders.
Pepperstone’s Spread Betting Offering will include:
- 150+ instruments to trade
- Access to industry-leading platforms MT4 and MT5
- Low latency, lightning-fast execution
- Consistently competitive spreads
- Automated trading when you build your own trading strategies
You can compare spread betting with Pepperstone to other forex spread betting brokers here.
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Richard founded the Good Money Guide (previously 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.