Compare the best cryptocurrency spread betting brokers in 2022

If you want to start spread betting cryptocurrency, you need to choose a broker that works for you. Our experts have rated and reviewed the best crypto spread betting brokers to help you find one.
Reviewed by Richard Stutely
Updated: Sep 9, 2022
Tip: our preferred broker is, eToro: visit & create account

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.

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.

1
Min. Deposit
$ 50
Promotion
User Score
10
Award-winning platform - trade in real stocks
Commission Free on stocks
11 payment methods, including PayPal
Start Trading
Payment Methods:
Bank Transfer, Wire Transfer
Full Regulations:
CySEC, FCA
eToro is a multi-asset platform which offers CFD and non CFD products. 68% 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.
2
Min. Deposit
$ 100
Promotion
User Score
10
Trade out-of-hours on over 70+ US stocks
Get exposure to a wide range of popular UK, US and international stocks
Enjoy flexible access to more than 17,000 global markets, with reliable execution
Start Trading
Payment Methods:
Bank Transfer, Credit Card, Debit Card, PayPal
Full Regulations:
ASIC, FCA, FINMA, is a licensed bank (IG Bank in Switzerland)

What is spread betting?

It is 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 bid and ask prices provided by a broker.

How does cryptocurrency spread betting work?

Each crypto spread betting broker offers a buy and sell price (bid and ask) 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.

However, trading spread bets is different to regular cryptocurrency trading. 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?

Spread betting vs CFD trading

Crypto spread bets and CFDs are very similar practices. Both methods are a form of derivatives trading, where you predict how the price of an asset is going to change.  Both also let you use leverage. However, there are a couple of key differences in the way spread bets and CFDs work.

Here are the main ones to consider before you decide whether spread bets or crypto CFDs are best for you.

  • Spread betting is more tax efficient. The money you make from spread bets is tax free. Spread betting is classed as a form of gambling, so you don’t have to pay a Capital Gains Tax on the profits.
  • Access to spread betting is restricted in many countries. Spread betting is popular in the United Kingdom and Ireland, but is generally not available anywhere else. Even in the UK, the rules on spread betting are strict and it’s only available to professional clients. CFDs, meanwhile, are available in most countries around the world and are more accessible to retail investors (although crypto CFD trading is not allowed in the United Kingdom).
  • There is no trading fee on spread bets. There is normally no fee for placing spread bets, whereas you may have to pay a small percentage of the trade value when you buy or sell a CFD. The cost of spread betting normally comes as part of the spread, as brokers add a charge on top of the market rate.

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

No. When you’re cryptocurrency spread betting, you’re betting on the price of a cryptocurrency, but you never actually own the cryptocurrency 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.

What should I look for in a spread betting service?

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

  • Find 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.
  • 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 brokerage accounts, and some platforms will accept newer payment methods, such as cryptocurrency.
  • Low spreads. Low 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 a platform’s reputation. 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 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.

Quick answers to key questions

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

Yes, it’s like the house in a casino; you need someone to take the other side of your bets. You also need a broker to set the bid and ask price for each coin. Make sure to pick one that’s regulated and which offers a wide range of cryptocurrencies to bet on.

Read more: do I need a broker to spread bet crypto?

When can I spread bet on cryptocurrency markets?

24/7. One of the benefits of spread betting is that you can place bets at any time of day and aren’t restricted by normal trading hours. In this case, you can trade crypto all hours of the day anyway as well, so there are no limits on when you can bet.

Read more: what are the trading hours for crypto spread betting?

If you live in the UK or Ireland, then yes. If you live in Australia or the United States, then no. The local laws vary across other European countries, but outside Europe it is almost universally banned. That’s because spread betting is considered as a form of gambling.

Read more: where is crypto spread betting allowed?

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.

Read more: What is margin in crypto spread betting and why is it important?

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:

Benefits

  • You can make spread bets instantly on the crypto you want
  • Spread betting is tax free
  • Spread betting platforms have lots of technical tools to make market analysis easier
  • There are usually no fees or commissions

Risks

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

What are some of the crypto assets you can spread bet?
How long can you keep a spread bet open?
What’s the built-in risk of spread betting?
Where can I find tighter spreads?
What’s the biggest disadvantage of trading with leverage in a spread bet?
Is there a way to mitigate that risk with standard stop-loss orders?

Sources & references
Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

Harry Atkins
Financial Writer
Harry was a Financial Writer for Invezz, drawing on more than a decade writing, editing and managing high-profile content for blue chip companies, Harry’s considerable experience… read more.
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Editor of Education
James is a lead content editor for Invezz. He's an avid trader and golfer, who spends an inordinate amount of time watching Leicester City and the… read more.