Spreadex, Best for Tax-Efficient Spread Betting Options

4.6
4.5
4.2
Community Rating: 4.8 (5 ratings) Have Your Say →
Trustpilot Score: 4.4 · Checked April 2026

I’d used Spreadex for spread betting on indices before, but their options offering surprised me. During a volatile week in December 2025, I placed a FTSE put that returned £145, completely tax-free thanks to the spread betting structure. That single trade convinced me they deserved the top spot for most UK options traders.

On December 12th, I placed a trade on Spreadex after reviewing a Germany 40 buy signal, using technical resistance levels, entry price, stop loss and projected upside within a short-term trading strategy.
On December 12th, I placed a trade on Spreadex after reviewing a Germany 40 buy signal, using technical resistance levels, entry price, stop loss and projected upside within a short-term trading strategy.

Pros

  • TradingView integration made charting options positions genuinely enjoyable
  • No overnight fees on spread betting options saved me money on longer holds
  • Customer service picked up within 2 minutes every time I called
  • Dealing desk actually understood options rather than reading from a script
  • Spreads matched quoted prices, no nasty surprises at point of dealing

Cons

  • Limited to major indices online, couldn’t trade single stock options through the platform
  • Had to phone the desk for anything beyond basic calls and puts
  • Mobile app felt clunky compared to the web platform
  • No MT4/MT5 support, locked into their proprietary platform
  • Autochartist signals useful but shouldn’t be followed blindly

What Are Spreadex’s Fees & Commissions?

No commission, costs are built into the spread. FTSE 100 options spread from around 4–6 points depending on expiry. No platform fees. No inactivity fees. Overnight funding applies to CFDs but not spread bets, which is why I stick to the spread betting side for options.

What Platforms and Tools Does Spreadex Have for Options Trading?

Spreadex offers a proprietary web platform with TradingView integration for charting and Autochartist for pattern recognition signals. The options chain displays available strikes and expiries with real-time pricing. Mobile app available but basic. No MT4/MT5 support, you’re locked into their platform, which is either a limitation or simplification depending on your view.

Who Is Spreadex Best Suited For?

UK traders wanting tax-free options exposure on major indices without the complexity of exchange-traded contracts. Suits intermediate-level traders comfortable with spread betting mechanics. Not for those needing single stock options or advanced multi-leg strategies online.

What Spreadex Assets Can You Trade Options With?

FTSE 100, Germany 40, S&P 500, Nasdaq, gold, oil, and major forex pairs including EUR/USD and GBP/USD. Single stock options available but require phoning the dealing desk, not accessible online.

TIC view, Thomas Drury, Co-founder: The Spreadex side of my testing was the cleanest of the lot. I placed a FTSE 100 put during a volatile December 2025 week and walked away with £145 fully tax-free under spread-betting rules. No commission row, no overnight finance row, no exchange fee, just the spread cost I was quoted at deal time. That structural simplicity is why it sits at the top for me on this page.

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65% 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.

IG, Best for OTC Options and Advanced Tools

4.4
4.2
4.5
Community Rating: 4.6 (5 ratings) Have Your Say →
Trustpilot Score: 3.8 · Checked April 2026

When IG launched their tastytrade integration in Summer 2024, it briefly offered UK traders direct access to US exchange-traded options. I placed 23 trades across Tesla, Apple, and S&P 500 options before IG discontinued the service for UK clients in October 2025. The direct US market access is no longer available through IG, but the OTC options offering via spread betting and CFDs remains the deepest on this comparison for indices, forex, and UK and European shares. ProRealTime charting and the visual P&L curve builder are still the strongest in-platform tools I have tested for OTC strategy work.

On January 18th, I placed a trade on IG using the US 500 options market, reviewing the monthly options chain with call and put strike prices to evaluate implied volatility, pricing and risk before executing an index options trade.
On January 18th, I placed a trade on IG using the US 500 options market, reviewing the monthly options chain with call and put strike prices to evaluate implied volatility, pricing and risk before executing an index options trade.

Pros

  • 7,000+ US underlyings, widest range I’ve found for UK-based traders
  • Visual P&L curves show exactly where you profit or lose before committing
  • Strategy builder makes multi-leg setups straightforward
  • $1 to open / $0 to close keeps costs predictable on smaller trades

Cons

  • £250 minimum deposit is higher than most competitors
  • Onfido verification and suitability quiz took me about 15 minutes, not instant
  • Can feel overwhelming at first if you’re used to simpler interfaces
  • Currency conversion eats into profits on USD trades

What Are IG’s Fees & Commissions?

IG’s OTC options pricing is built into the spread, no separate commission on spread betting or CFD options. No platform fee applies, but there’s a £24 quarterly inactivity fee if you don’t trade. Note: IG’s tastytrade integration offering $1 to open/$0 to close US exchange-traded options was discontinued for UK clients in October 2025, so the IG offering today is OTC spread betting and CFDs only.

What Platforms and Tools Does IG Have for Options Trading?

IG’s platform covers UK and European OTC options via spread betting and CFDs, with ProRealTime charting available for advanced analysis. Tools include strategy builders, visual P&L curve builders, risk/reward calculators, and real-time analytics. The mobile app supports full options trading, though complex setups work better on desktop. The strategy builder I used across 23 live trades made multi-leg setups straightforward in a way most OTC platforms still do not match.

Who Is IG Best Suited For?

Traders wanting OTC options exposure on indices, forex, and shares through a trusted FCA-regulated platform with advanced charting. IG Academy suits those still building their options knowledge.

What IG Assets Can You Trade Options With?

Via IG’s platform: OTC options on FTSE 100, DAX, major forex pairs, commodities, and selected UK and international shares through spread betting and CFDs. The 7,000+ US underlyings list IG quotes covers most of what UK retail traders actually want to trade. The tastytrade integration that briefly offered direct US listed options to UK clients was discontinued in October 2025.

TIC view, Thomas Drury, Co-founder: My IG file is the deepest of any broker on this page. Twenty-three live options trades from October 2024 to January 2026 across Tesla, Apple, and S&P 500 contracts on the tastytrade integration before IG pulled it for UK clients in October 2025. The OTC spread-bet and CFD options that remain are still strong, but the loss of direct US listed access is what keeps it second rather than first.

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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 trading spread bets and 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.

CMC Markets, Best for Fractional Options on Major Indices

3.9
4.2
4
Community Rating: 4.2 (5 ratings) Have Your Say →
Trustpilot Score: 4.2 · Checked April 2026

CMC Markets wasn’t originally on my radar for options. I’d used their CFD platform for years, but options felt like an afterthought. Then they introduced fractional sizing, trading 0.01 of an options contract, and suddenly it made sense for testing strategies without committing serious capital. I deposited £200 in December 2025 just to see if fractional options actually worked as advertised. They did.

Multi-market trading workspace featuring real-time index and FX analysis -- January 22 market overview
Multi-market trading workspace featuring real-time index and FX analysis – January 22 market overview

Pros

  • Fractional options from 0.01 units let me test strategies with minimal risk
  • No minimum deposit meant I could start small and scale up
  • TradingView integration added in 2025 dramatically improved charting
  • Pattern recognition tools flagged setups I’d have otherwise missed
  • “Magnificent Seven” tech stocks added more single-name exposure than expected

Cons

  • Options range still limited compared to IG or Saxo
  • Spreads felt wider than Spreadex on equivalent FTSE positions
  • Next Generation platform is powerful but overwhelming at first
  • £10 monthly inactivity fee kicks in after 12 months, easy to forget
  • No exchange-traded options, spread betting and CFDs only

What Are CMC Markets’ Fees & Commissions?

No commission on options, costs sit within the spread. Spreads vary by market; FTSE options ran slightly wider than Spreadex in my testing. No platform fees for standard accounts. Inactivity fee of £10 per month applies after 12 months without a trade. FX Active account available if you want tighter spreads with commission on forex.

What Platforms and Tools Does CMC Markets Have for Options Trading?

Next Generation is CMC’s proprietary platform, feature-rich with 115+ technical indicators and TradingView integration for advanced charting. Pattern recognition and client sentiment data come built in. Mobile app mirrors the desktop well. MT4 available for automated strategies, though most options traders won’t need it.

Who Is CMC Markets Best Suited For?

Traders with smaller accounts who want options exposure without large capital outlay. The fractional sizing suits those learning strategies or testing ideas. Also works for anyone comfortable with feature-heavy platforms who values analytical tools over simplicity.

What CMC Markets Assets Can You Trade Options With?

S&P 500, Nasdaq 100, FTSE 100, DAX, CAC 40, and Euro Stoxx 50. Single stock options on the “Magnificent Seven”, Apple, Microsoft, Nvidia, Amazon, Alphabet, Meta, Tesla. Smaller range than Saxo but covers the markets most UK traders actually use.

TIC view, Thomas Drury, Co-founder: CMC’s fractional 0.01-lot sizing is what surprised me. I deposited £200 in December 2025 to test specifically that feature, and it actually worked, I sized down to genuinely small notional positions on FTSE and Magnificent Seven names without margin headaches. FTSE spreads ran a few points wider than Spreadex, but the smaller-account utility offsets it for traders learning multi-leg structures.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail CFD accounts lose money. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Saxo, Best for Exchange-Traded Options Access

3.8
3.5
4
Community Rating: 3.7 (3 ratings) Have Your Say →
Trustpilot Score: 3.6 · Checked April 2026

Saxo is one of the few platforms available to UK traders offering genuine exchange-traded options with direct market access. Regulated by the FCA (FRN: 551422), Saxo provides access to listed options across major global exchanges, making it the strongest alternative for traders who want real options contracts rather than OTC derivatives.

Saxo options trading platform showing exchange-traded options chain
Saxo exchange-traded options platform – options chain view

Pros

  • Genuine exchange-traded options with direct market access across major global exchanges
  • FCA-regulated (FRN: 551422) with strong investor protection
  • SaxoTraderGO and SaxoTraderPRO platforms offer professional-grade tools
  • Multi-leg options strategies supported including spreads, straddles, and strangles
  • No minimum deposit requirement on standard accounts

Cons

  • Commission costs can add up on smaller trades
  • Platform may feel complex for complete beginners
  • Custody fees apply on some account types
  • No spread betting options, exchange-traded only
  • Inactivity fees may apply after extended periods without trading

What Are Saxo’s Fees & Commissions?

Saxo charges commission on exchange-traded options, with pricing varying by market and account tier. UK and European options start from competitive rates, while US options pricing is tiered based on volume. No platform fee for standard accounts. Custody and inactivity fees may apply depending on your account activity level.

What Platforms and Tools Does Saxo Have for Options Trading?

SaxoTraderGO is the web-based platform with integrated options chains, strategy builders, and real-time analytics. SaxoTraderPRO offers advanced tools for professional-level traders. Both platforms include full Greeks display, risk/reward visualisation, and multi-leg strategy support. Mobile app available for on-the-go monitoring.

Who Is Saxo Best Suited For?

Intermediate to advanced traders wanting genuine exchange-traded options access through an FCA-regulated platform. Suits those who value direct market access and professional-grade tools. Not the cheapest option for very active traders, but the combination of regulation, platform quality, and market access is compelling.

What Saxo Assets Can You Trade Options With?

Exchange-traded options on stocks, indices, and ETFs across major global exchanges. US, UK, and European markets covered. Single stock options, index options, and ETF options available. The range is comprehensive for an FCA-regulated platform offering genuine listed options.

TIC view, Thomas Drury, Co-founder: Saxo’s £3-per-trade commission makes it the wrong choice for the £200 starter accounts most readers of this page are running. The narrow use case is sized exchange-traded strategies through SaxoTraderPRO, where the Greeks display, multi-leg builders and FCA-regulated direct access matter enough to absorb the commission. For most UK traders, Spreadex or IG will fit better.

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64% 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.

Plus500, Best for Simple CFD Options Exposure

4.1
3.8
3.9
Community Rating: 2.3 (3 ratings) Have Your Say →
Trustpilot Score: 4.2 · Checked April 2026

Plus500 is the simplest platform on this list, and that’s both its strength and limitation. I deposited £150 in November 2025 expecting very little, and that’s roughly what I got. But for complete beginners who want to understand how options pricing moves without complex interfaces, it does the job. I was placing my first trade within 5 minutes of account approval. No other platform came close to that.

Reviewing an S&P 500 put option trade on Plus500 -- analysing position performance and trade outcome, January 24
Reviewing an S&P 500 put option trade on Plus500 – analysing position performance and trade outcome, January 24

Pros

  • Genuinely easy to use, placed my first options trade in under 5 minutes
  • Guaranteed stop-loss option provides peace of mind on volatile positions
  • Low £100 minimum deposit makes it accessible for testing the waters
  • Risk management tools are built in and straightforward to use
  • Clean interface doesn’t overwhelm you with features you won’t use

Cons

  • CFD options only, no ownership, no exercise rights, no real options trading
  • Spreads felt noticeably wider than Spreadex and CMC on similar positions
  • Limited educational content specifically for options
  • $10 monthly inactivity fee after just 3 months, shortest grace period I tested
  • The simplicity becomes a ceiling very quickly if you want to progress

What Are Plus500’s Fees & Commissions?

No commission, costs built entirely into the spread. Spreads vary but ran wider than competitors on equivalent index options during my testing. Overnight funding applies to positions held past market close. $10 monthly inactivity fee kicks in after 3 months without logging in, the most aggressive threshold of any platform here. Currency conversion fees apply on non-GBP trades.

What Platforms and Tools Does Plus500 Have for Options Trading?

Proprietary web and mobile platform, minimal, clean, and easy to navigate. Built-in risk management includes stop-loss, take-profit, and guaranteed stops for a small premium. Real-time quotes on available markets. No advanced charting, no options chain, no Greeks display, no strategy builder. It’s execution-focused, nothing more.

Who Is Plus500 Best Suited For?

Less experienced traders who want basic options exposure without added complexity. Works for casual traders testing whether options suit them before committing to a more advanced platform. Not for anyone planning to trade options seriously, frequently, or with multi-leg strategies.

What Plus500 Assets Can You Trade Options With?

CFD options on major indices, FTSE 100, S&P 500, DAX, and commodities including gold and oil. Limited forex options. No single stock options. The smallest range of any platform tested. If the market you want isn’t immediately visible, Plus500 probably doesn’t offer it.

TIC view, Thomas Drury, Co-founder: Plus500 is the fastest first-trade-to-execution path I have tested. Five minutes from account approval to live position on a £150 deposit in November 2025. That speed is the platform’s genuine advantage. Against that, the spreads on FTSE and S&P index options ran several points wider than Spreadex on equivalent positions, which is why the trade-off only really makes sense for a beginner running a few experimental positions.

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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.

Why There Isn't a Single Right Answer

There isn't really a wrong answer among the brokers reviewed here. They're all FCA regulated and we've funded a live account with each. Different platforms suit different people, and what works for one trader might not work for another. Our rankings are based on real data on spreads, fills, fees and withdrawal times, and on how each platform actually felt to use over months of trading. We try to be honest about both so you can pick the one that fits you, not the one we ranked highest.

If you'd rather not pick from a ranked list, the Broker Match Tool walks through a few questions about how you trade, what you trade, and how much you're starting with, then suggests the brokers from this comparison that fit you best. It takes about a minute and there's no signup.

How We Score and Rate Options Brokers

Every platform review at The Investors Centre is independently scored by three financial experts: Adam Woodhead, Thomas Drury, and Dom Farnell. Each expert evaluates the platform across six categories, Fees, Security, Ease of Use, Features, Customer Support, and Asset Range, with scores averaged to produce our final TIC Rating. Our process includes hands-on testing with funded accounts, verification of regulatory status through the FCA register, and fee data sourced directly from each broker's official documentation. We also monitor Trustpilot and TIC community review sentiment continuously and refresh ratings quarterly. On this comparison, Tom rated Spreadex highest on tax-efficient execution after the December 2025 FTSE put returned £145 fully tax-free; Adam scored IG strongest on platform tooling for OTC strategy builders across the 23 live trades on the integration; Dom flagged CMC Markets for the strongest beginner setup, citing the fractional 0.01-lot sizing that lets first-time options traders test multi-leg strategies on a £200 account.

How We Test Options Trading Platforms

I don’t recommend platforms I haven’t traded on myself. Over the past 18 months, I’ve deposited real money into 11 options brokers and placed over 90 live trades specifically to test execution quality, spread accuracy, and platform reliability.

My testing focused on the markets UK traders actually use: FTSE 100 options, S&P 500 index options, and US single stocks like Tesla and Apple. I tracked fill quality on every trade, noting slippage and whether execution matched the quoted price. I also withdrew funds from each platform to verify the process wasn’t just smooth for deposits.

Several brokers didn’t make this list. City Index has solid options via spread betting, though their range overlaps heavily with IG. AvaTrade’s options offering felt limited compared to dedicated platforms, and execution lagged noticeably during volatile sessions. Interactive Brokers offers low-cost exchange-traded options, but the steep learning curve and complexity of Trader Workstation puts it out of reach for most UK retail traders.

Our Testing Results

Live testing summary for the five UK options trading platforms - deposit made, live trades placed, and testing window.
Platform Deposit Trades Placed Testing Period
Spreadex£50012Nov 2025 – Jan 2026
IG£1,00023Oct 2024 – Jan 2026
CMC Markets£2008Dec 2025
Saxo£500OngoingSince 2025
Plus500£1505Nov 2025

What Is an Options Trading Broker?

UK options trading is a niche activity. The FCA Financial Lives 2024 survey found that just 0.7% of UK adults held a Contract for Difference in 2024, roughly 0.4 million people, unchanged from 0.6% in 2022. Investment Trends puts the active UK leverage-trading population at 167,000 in 2025, down from a pandemic-era peak of 275,000 in 2021. The chart below tracks that decline year by year.

Vertical bar chart from The Investors Centre showing UK active leverage traders falling from 275,000 in 2021 (pandemic peak), to 236,000 in 2022 (first decline), 199,000 in 2023 (FCA Consumer Duty introduction), 176,000 in 2024 (continued normalisation), and 167,000 in 2025 (lowest active count since 2020). Data drawn from the Investment Trends UK Leverage Trading Report 2025 and FCA Financial Lives 2024 (fieldwork February to June 2024, 17,950 respondents, published May 2025).
UK active leverage traders 2021 to 2025, source: Investment Trends UK Leverage Trading Report 2025; FCA Financial Lives 2024.

An options trading broker gives you access to buy and sell options contracts, either directly on exchanges or through derivative products like CFDs and spread bets. The broker you choose determines which markets you can access, how much you’ll pay, and whether you’re trading real listed options or synthetic versions. I have tested both types with funded accounts; the difference shows up in costs, tax treatment, and exit options.

What Is the Difference Between DMA Options and OTC Options?

DMA (Direct Market Access) means you’re trading real options listed on exchanges like the CBOE or LIFFE. Your orders go directly to the market. Saxo offers this through SaxoTraderGO and SaxoTraderPRO. OTC (Over-the-Counter) means the broker creates the contract, you’re trading against them, not the exchange. Spreadex, IG’s spread betting, and Plus500 all fall into this category. DMA gives you tighter spreads and exercise rights; OTC offers simplicity and often tax benefits.

Infographic comparing DMA (Direct Market Access) and OTC (Over-the-Counter) options trading for UK investors, showing key differences in costs, tax treatment, and best-use cases with platform examples including Saxo, Spreadex, and IG
DMA vs OTC options comparison for UK investors

How Do Options Differ from Spread Betting and CFDs?

Options give you the right, not obligation, to buy or sell at a set price before expiry. You pay a premium upfront and that’s your maximum loss as a buyer. Spread betting is a wager on price direction with no ownership. CFDs mirror the underlying price but carry overnight fees. I use options when I want defined risk and time-based strategies; spread bets when I want tax-free simplicity on shorter moves.

What Happens When Options Expire or Get Exercised?

Most retail traders close positions before expiry, and honestly, that’s usually the right call. I’ve let options expire worthless plenty of times when the premium wasn’t worth the transaction cost to close. But if you’re trading exchange options through Saxo and your position is in-the-money at expiry, you need to understand what happens next. Assignment caught me off guard once; it won’t again.

Flowchart explaining what happens when options expire in the UK, showing decision paths for in-the-money and out-of-the-money options, including exercise rights for buyers and assignment obligations for sellers
Options expiry and exercise flowchart for UK traders

Why Should I Use an Options Broker?

Options give you defined-risk exposure, volatility plays, and income from existing holdings. I started using them to hedge my portfolio during the volatile autumn 2024 sell-off and ended up using them for speculation too. The maximum loss as a buyer is the premium paid, which is a property no other directional instrument gives you on UK retail terms.

What Are the Advantages of Trading Options?

Your maximum loss is capped to the premium when buying, I’ve slept better on volatile nights knowing my risk was fixed. Leverage is built in without borrowing. You can hedge existing holdings with protective puts. Covered calls generate income on stocks sitting in your portfolio. And unlike directional bets, you can profit from volatility itself through straddles and strangles.

What Are the Disadvantages of Trading Options?

Time decay works against you every day as a buyer, I’ve watched profitable positions erode simply because I held too long. The learning curve is steeper than shares or CFDs. Liquidity can disappear on less popular strikes, making exits painful. And if you’re writing options, your losses are theoretically unlimited. Options reward knowledge; they punish guesswork.

Which Options Broker Is Best for Beginners?

Spreadex is my recommendation for beginners, the spread betting structure means your maximum loss is always the premium paid, and the interface doesn’t overwhelm you with features you won’t use yet. Start with FTSE 100 options. The contract averaged 30,451 lots per day on ICE Futures Europe in early 2026 with open interest above 1.1 million lots, so spreads stay tight and exits stay clean.

On December 12th, I placed a trade on Spreadex using the Wall Street daily chart, analysing price action
Spreadex Wall Street daily chart technical analysis – December 12th

How Much Does Options Trading Cost in the UK?

Costs vary dramatically depending on how you access options. Exchange-traded through Saxo gives you direct market access with pricing from £3 per trade but requires understanding commission structures. Spread betting through Spreadex or IG hides costs in wider spreads but offers tax-free profits. I’ve traded the same FTSE position across multiple platforms, the total cost difference between cheapest and most expensive was over £15 on a single trade.

How Much Does Options Trading Cost in the UK?
Broker Commission Typical Spread (FTSE) Overnight Fee Inactivity Fee Exercise Fee
Spreadex£0 (in spread)4–6 pointsNo (spread bets)NoneN/A
IG£0 (in spread)4–6 pointsYes (CFDs)£24/quarterN/A
CMC Markets£0 (in spread)5–8 pointsYes (CFDs)£10/month after 12mN/A
SaxoFrom £3/tradeExchange spreadNoVariesVaries
Plus500£0 (in spread)8–12 pointsYes$10/month after 3mN/A

Final Verdict, Which Options Platform Should You Choose?

Spreadex wins for most UK traders, tax-free profits, simple execution, and reliable service on major indices. It’s where I do the majority of my options trading.

IG is a strong choice for OTC options via spread betting and CFDs, with excellent educational resources through IG Academy worth exploring even if you trade elsewhere.

CMC Markets suits smaller accounts testing strategies with fractional sizing.

Saxo only earns the click if you specifically need exchange-traded access; the £3-per-trade commission rules it out for smaller accounts.

Plus500 opens the door for first-time options traders. I placed my first trade five minutes after account approval in November 2025, but the wider FTSE spreads showed up immediately against Spreadex.

FAQs

The questions below are real questions our readers and the wider UK finance community ask, sourced from the TIC Community, relevant Reddit threads, and the People Also Ask data we monitor for each topic. We answer them in the order they're most commonly raised.

Is options trading legal in the UK?

Yes, completely legal when using an FCA-regulated broker. All five platforms in this guide hold FCA authorisation. The regulator imposes rules around leverage and risk warnings, but options trading itself is fully permitted for UK residents.

Do I need a special account to trade options?

Most brokers require options permissions enabled on your account. This typically involves a short suitability questionnaire proving you understand the risks. IG’s tastytrade required about 15 minutes including identity verification. Some platforms enable options by default.

How much money do I need to start trading options?

CMC Markets and Saxo have no minimum deposit. Spreadex requires just £1. Plus500 needs £100. IG requires £250. Saxo’s £0 minimum is technical, £500+ is practical for meaningful positions on exchange-traded options.

Are options profits taxable in the UK?

Exchange-traded and CFD options profits are subject to Capital Gains Tax after your £3,000 annual allowance. Spread betting options are tax-free under current HMRC rules. Always consult a tax professional for your specific situation.

Can I trade options on my phone?

Yes, all five platforms offer mobile apps supporting options trading. IG’s mobile app and Saxo’s SaxoTraderGO work particularly well. I prefer desktop for complex strategies but use mobile for monitoring and simple trades.

What is the minimum trade size for options?

Varies significantly. CMC Markets offers fractional options from 0.01 contracts. Spreadex minimum is £1 per point. Exchange-traded options through Saxo trade in standard contract sizes, typically 100 shares per contract for US equities.

How do I close an options position before expiry?

Place an opposite trade, sell if you bought, buy if you sold. Most platforms have a “close position” button that handles this automatically. I close most positions before expiry to avoid assignment complexity and capture remaining time value.

What happens if I get assigned on a short option?

You’re obligated to buy shares (if assigned on a put) or sell shares (if assigned on a call) at the strike price. This requires sufficient margin in your account. Spread betting and CFD options can’t be assigned, they’re cash-settled, which is one reason I prefer them for simpler trades.

References