Compare 4 best crypto spread betting brokers in 2024

By:

Harry Atkins

... read more.

 & 

James Knight

James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.

Reviewed by:

Richard Stutely

Richard is a Fact Checker for Invezz who ensures all our reviews and guides are accurate and unbiased. He is a best-selling international business author whose... read more.

Updated: Jun 28, 2023

Listen

---

---

0:00 / 13:13

Ad disclosure

Invezz is an independent platform with the goal of helping users achieve financial freedom. In order to fund our work, we partner with advertisers who may pay to be displayed in certain positions on certain pages, or may compensate us for referring users to their services. While our reviews and assessments of each product are independent and unbiased, the order in which brands are presented and the placement of offers may be impacted and some of the links on this page may be affiliate links from which we earn a commission. The order in which products and services appear on Invezz does not represent an endorsement from us, and please be aware that there may be other platforms available to you than the products and services that appear on our website. Read more about how we make money >

Trade your favourite markets with our top-rated broker, eToro.

10/10

77% of retail CFD accounts lose money.

Visit site

Our team of experts tried all the leading cryptocurrency brokers to find out which ones offered the best spread betting service. We tested out their accessibility, the range of crypto assets on offer, and how easy it was to get started.

After each expert had created a personal list of their favourite platforms, we compiled them all together to create a final overall ranking. Read on to find the best cryptocurrency spread betting brokers and discover what makes them so good.

Best crypto spread betting platforms for 2024

Where can I find the best crypto spread betting platforms?

This list shows our top rated betting platforms that you can use to start trading spread bets today. Click any of the links in the table to sign up, or keep reading to learn more about spread betting.

Most Popular

1

Min. Deposit

$ 50

Best offer

User Score

9.9

Award-winning platform - trade in real stocks

Commission Free on stocks

11 payment methods, including PayPal

Start Trading more info

Payment Methods:

Bank Transfer, Credit Card, Debit Card, PayPal, Wire Transfer

Full Regulations:

CySEC, FCA

77% of retail CFD accounts lose money.

2

Min. Deposit

$ 100

Best offer

User Score

9.7

Trade +2000 CFDs on Shares, Forex, Indices, Crypto, Options, Commodities & more

Unlimited risk-free Demo Account

0 commissions & attractive spreads

Start Trading more info

Payment Methods:

American Express, Apple Pay, Bank Transfer, Credit Card, Debit Card, Discover, Google Pay, Mastercard, PayPal, SEPA, Trustly, Visa, , skrill

Full Regulations:

ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator

82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

3

Min. Deposit

-

Best offer

User Score

9.0

Start Trading more info

Payment Methods:

Bank Wire, Check, Debit Card, Wire Transfer

Full Regulations:

Top 4 crypto spread betting brokers, reviewed

1. eToro. Best for beginners, copy-trading & demo-account

Visit site

1500

No. assets

$10

Minimum deposit

Crypto

Platform type

Pros & Cons

Great for beginners, simple to set up and get started Zero commission stock trading Popular ‘CopyTrader’ function lets you follow top traders Excellent customer service, with live chat support provided Over 2,000 CFDs available to trade

Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

Overview

We love eToro because it makes it simple to trade crypto at home or on the go. If you’ve never bought cryptocurrency before, then eToro makes it simple to buy 75+ of the leading coins, including the likes of Bitcoin, Ethereum, and Dogecoin. Every crypto trade comes with a flat 1% fee, which makes it one of the cheapest crypto brokers on the market to boot.

As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see what’s trending on the crypto market every day, browse the latest technical analysis about every one of those tokens, and copy other people’s trade suggestions from your desktop or the eToro app.

The fees: You will be charged a 1% fee every time you buy or sell crypto. The charge is included in the market price that’s displayed on eToro. CFD trades may be charged an overnight or weekend fee if you leave the position open.

Visit eToro eToro Review

77% of retail CFD accounts lose money.

2. Plus500. Best for international CFD trading*

Visit site

2800

No. assets

$100

Minimum deposit

Crypto

Platform type

Pros & Cons

Can get a free demo account A great mobile platform Well regulated in multiple jurisdictions Wide variety of CFDs to trade Several good risk management tools

No support on trading information and education Website isn’t brilliantly designed to help users find answers to their questions No MetaTrader trading platform compatibility

Overview

We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you make a trade. Its technology driven platform gives access to over 2800 instruments, including CFDs on stocks, forex, commodities, and cryptocurrencies among several others.

Plus500 has something for all types of traders, no matter what level of experience. It’s zero commission and tight spreads make it a top choice for day traders and its trading academy is packed with educational content, perfect for beginners just starting. 

For accurate instrument availability, visit plus500.com.

The fees: There are no commission fees on any trades with Plus500 and it makes it money through the Bid/Ask spread. Spread starts from 0.01% or 0.9 pips and varies depending on the instrument. Additional fees include overnight funding which is dependant on trade size and guaranteed stop orders, which add a minimum of 10% to the spread. There is an inactivity charge of £10 per month for accounts not logged in for three months. 

*Based on a comparison of 60+ leading brokers and trading platforms.

Visit Plus500 Plus500 Review

82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

3. Best online broker for range of markets

Visit site

...

No. assets

...

Minimum deposit

Crypto

Platform type

Pros & Cons

Regulated by several financial authorities Free stock and ETF trading for US traders Earn interest on cash balance Free demo trading account available

The desktop trading platform is complex to navigate Customer service not available 24/7 Credit/debit card payment not available

Overview

We love Interactive Brokers because it has one of the widest selections of tradable assets we’ve ever seen. IBKR is one of the best-known and longest-running brokers in the world and when you create an account you’ll have access to tens of thousands of stocks, ETFs, funds, indices, currencies, bonds, and cryptocurrencies. 

Besides lots of markets, Interactive Brokers also offers a good range of additional tools and features including risk management tools, cutting-edge portfolio management services, and the ability to automate your trading system through ready-made or custom-built algorithms. 

The fees: Charges vary depending on the asset you’re trading. Stocks and ETFs are commission-free, as are most funds. Options fees range from $0.15 to $0.65 per option contract. Cryptocurrency fees range between 0.12% to 0.18% of the trade value. Forex trades have commissions which can be as low as a fraction of a pip. 

Visit Interactive Brokers Interactive Brokers Review

4. Public. Best for sharing beginner trading ideas

Visit site

...

No. assets

...

Minimum deposit

Crypto

Platform type

Pros & Cons

Commission free stock and ETF investing Share and compare your portfolio on a social trading platform Trade crypto, fractional shares, and alternative investments

You can't trade on margin or use leverage No forex, options, funds, metals, or bonds

Overview

We love Public because it’s a social platform where you can share trading tips and get ideas from other people. Public offers 9,000+ financial instruments, including cryptocurrencies and stocks from around the world.

Alongside a community of other investors all sharing their ideas, Public offers real time news and information so that you can see the full picture before you invest. And the assets don’t just include your run-of-the-mill assets; you can make alternative investments in things like handbags and comic books as well.

The fees: Cryptocurrency trades are charged a 2.5% fee per transaction. 

Visit Review

What is cryptocurrency spread betting?

It’s the practice of placing a bet on how you think a cryptocurrency (such as Bitcoin) will perform. Essentially, you’re betting whether the price of that asset will rise or fall from the prices provided by a broker.

Each crypto spread betting broker offers a buy and sell price (known as the ‘bid’ and ‘ask’ price) for a cryptocurrency and you place a bet on either one, depending on how you think the price is going to perform in the future. If you bet on the price to increase and it goes up, you make money. If you bet on it to increase and it goes down, you lose money.

Trading spread bets is different to regular cryptocurrency trading. How spread betting works is that the money you make is based on the number of ‘points’ a price changes multiplied by your original stake, rather than the absolute value of the change. Points are usually measured in either $1 or $0.1 increments.

For instance, let’s imagine the Bitcoin price is $30,000 and you bet $5 per point on the price to increase:

• If the price increases to $30,005, you would make $5 (your stake) x 5 (the number of points the price has changed). Or $25 in total.

• Had you bought one Bitcoin instead, you would have made just $5. 

This is relatively simple to understand, but you need to be careful with your stakes. Cryptocurrency prices can move very quickly and if you place a large stake on every point of change there is a high chance of losing money rapidly.

Read more: can you make a profit from spread betting crypto?

Do I have to use a broker to spread bet crypto?

Yes, the broker is like the house in a casino. You need someone to offer crypto spread betting markets and to take the other side of your bets. The broker plays a vital role because it sets the bid and ask price for each coin. You can’t spread bet Bitcoin without one.

What should I look for in a spread betting service?

When you look for a broker you should be after one that makes crypto spread betting as simple and easy to understand as possible. You also want to prioritise secure, regulated platforms and ideally find one with a free demo account so you can practice. Here is a quick list of things to look out for:

• A regulated platform. The Financial Conduct Authority (FCA) oversees and regulates most reputable brokers in the UK. Whatever platform you choose, make sure it’s regulated by the FCA. You can do this by searching for a company’s registration number on the FCA website.
• Variety of payment methods. Pick a platform that allows you to deposit and withdraw funds in whatever way best fits your needs. Bank transfers are a common way to fund crypto spread betting accounts, and some platforms will accept newer payment methods, such as cryptocurrency.
• Low spreads. Competitive spreads mean a cheaper cost of trading spread bets. As the cost of trading is included in the spread, you want to find as low ones as possible. The cryptocurrency spread is the difference between the buy price (bid) and the sell price (ask) that a broker offers you.
• Suitable deposit and withdrawal limits. Different spread betting platforms offer deposit and withdrawal limits. Pick a platform that’s right for the level of trading you want to do, whether it’s small bets or much larger value trading.
• Good reputation. User reviews are often the best way to gauge spread betting companies’ reputations. Take the time to scrutinise those reviews so you know your chosen platform ticks all the boxes, from customer service to design and ease of use.
• Design and ease of use. UX is an important factor to consider when choosing a platform. The better designed the platform is, the smoother your user experience will be. Ease and speed of use are particularly valuable factors when the moment of truth comes and you’re ready to place a bet, and when you’re tracking the performance of your spread bets on more volatile markets like cryptocurrency.
• Variety of cryptocurrencies. Whichever broker you choose, make sure it offers the variety of crypto currency pairs you’re looking for. Most platforms will have crypto options that go well beyond just Bitcoin, so you can trade cryptos like Bitcoin Cash, Ethereum, Ripple, Solana, and many others.

What are the trading hours for crypto spread betting?

Some spread betting firms let you spread bet cryptocurrencies around the clock, but most spread betting platforms have selected weekly trading hours. The majority open on Sunday night and close on Friday, and only a few offer 24/7 access. Below you’ll find crypto spread betting trading hours for some of the best known platforms.

The above trading hours are similar across all spread betting brokers. Some platforms also have trading breaks. These are usually once or twice a week and occur around midnight and last from a few minutes or an hour or two. During a trading break, you won’t be able to open or close trades. 

What happens during the weekend in crypto spread betting?

Unless your broker offers 24/7 trading hours, you won’t be able to spread bet crypto over the weekend. When trading comes to a close on Friday evening, any positions you have live will remain open until trading resumes on Sunday night.

Keeping trades open over the weekend can be a risky strategy, especially in the cryptocurrency market which is known to be volatile. As spread betting is a leveraged product and traded on margin, you run the risk of losing more money than you’ve deposited if prices go against you over the weekend.

Is cryptocurrency spread betting legal in my country?

Crypto spread betting is allowed in the UK and Ireland, but it’s banned in the United States and Australia. The main reason for this is that spread betting is classed as a form of gambling, and the US and Australia in particular have strict laws against gambling, at least for now.

You may also find that there are limits on who can spread bet even in countries where it is legal. Even in the UK and Europe, spread betting is considered gambling and regulated as such. With that said, in the parts of the world where it is allowed, spread betting is an extremely popular way to trade financial markets.

Quick answers to key questions

What is the difference between crypto spread betting and CFDs?

The main difference is the tax status. Spread betting is classed as a form of gambling and so is tax-free, while any money you make from CFD trading is liable to be taxed. The other key difference is that spread betting is only available in the UK, while CFD trading is more widely available.

Here is a quick summary of the two approaches and their similarities and differences.

Do I own the assets I’m trading on a crypto spread betting platform?

No. When you’re betting on cryptocurrency, you’re betting on the price changes of a particular crypto, but you never actually own the coin in question. That means you don’t have to worry about digital storage or hackers. It also means you can trade faster and take advantage of market fluctuations to land gains.

When is the best time to spread bet the crypto market?

Usually the best time to trade cryptocurrencies is when the market has the highest trading volume, or is most active. It is nearly impossible to predict when this will happen as lots of factors need to be considered, however, according to data from Bitcoinity, volume in the Bitcoin market tends to pick up around 7am when European markets open.

Can I use leverage when spread betting cryptocurrency?

Yes, it’s common to use high leverage when spread betting. When you use leverage you place a large bet and put a small amount of money down as a deposit – known as the ‘margin’ – and your broker provides the rest of the money. Many professional traders trade this way, but there is a high risk of losing money rapidly with leverage and retail investors should be careful.

What are the tax laws on spread betting profits?

In the UK, spread bettors are not required to pay capital gains tax or stamp duty. That gives the method an advantage over using CFDs, stock investing, and buying physical commodities.

Are crypto spread bets safe and secure?

Yes, cryptocurrency spread betting is no different to using CFDs, stock market investing or other trading methods in terms of security. In fact, arguably spread bets are more secure than other forms of cryptocurrency trading because all the brokers that offer spread betting must be regulated. 

The most important thing in terms of keeping safe is to understand how spread bets work. In particular, how points of difference are measured. Bitcoin spread betting is likely to be a bit different to Dogecoin or Cardano, for example, because the price is significantly higher to start with. 

Bitcoin spread betting is likely to be measured in units of $1, whereas Dogecoin might be $0.1 or even $0.01. Take care to make sure you know exactly what you’re betting on.

Can I bet on multiple assets?

Yes, you can. Cryptocurrency spread betting lets you bet on lots of different types of cryptocurrency, it just depends on what coins are available with each broker. It’s much easier to spread bet Bitcoin than smaller altcoins, simply because there’s more likely to be a broker that offers a market for it. 

Do crypto spread betting platforms charge fees?

No, cryptocurrency spread betting platforms usually don’t charge fees; they make their money from the spread of your bet. The wider the price spread, the more money they make (and the bigger the gain you have to net just to break even). 

This is one of the main differences between spread bets and CFDs, because with CFD trading you are likely to have to pay fees. Whereas when trading spread bets the price is normally included as part of the spread.

Should I use a spread betting broker?

That’s up to you. If you want to bet on Bitcoin quickly and simply without having to worry about storing it, using a cryptocurrency spread betting broker is a great option. Another benefit of crypto spread betting is that it is tax free, which makes it a top choice for anyone wanting to keep hold of all of their profits.

However, cryptocurrency spread betting is only an option to traders in the United Kingdom and Ireland. If you live in the United States or most other countries around the world, it’s not available. In that case, your best option is to trade CFDs instead. There are many similarities between spread bets and CFDs, so you don’t need to worry about learning a whole new form of cryptocurrency trading.

Even for traders in the UK, crypto spread betting is limited to professional clients. To qualify as a professional you must deposit a large amount of money – in the hundreds of thousands – and have proof of significant trading volume over the last year. Retail investors are better off trying out CFD trading instead of crypto spread bets.

What are the risks of using a crypto spread betting platform?

Cryptocurrency spread betting platforms are generally considered safe but you should always make sure to use one that’s regulated in your region. There are lots of benefits of using one as well as a couple of risks which we have summarised below:

Methodology: How did we choose the best crypto spread betting brokers?

The recommended crypto spread betting brokers on this page have been extensively tested by our cryptocurrency experts. The testing process involved registering an account, depositing funds, making a spread bet trade, and withdrawing money. Customer support was also evaluated as was each broker’s website.

None of the services listed on this page influenced our recommendations. However, on occasion we may receive an affiliate commission if you click on a link and register an account. You can learn more about our review process here.

FAQs