UK broker CMC Markets said on Monday that it has opened its Spectre trading account to retail clients, after first launching the product for professional traders last year.
Spectre is structured as a fully funded spread betting account. On long positions, clients trade with their own capital at 100% margin, with no leverage, no financing costs and no margin calls. Short positions can still involve leverage and margin calls, CMC’s product documents show.
CMC is positioning the product around the standard UK spread-betting tax treatment, including possible exemptions from capital gains tax and stamp duty. The company adds the usual caveat that tax treatment depends on individual circumstances and may change.
Fees
The product still carries fees. CMC’s own fee schedule shows an account maintenance fee of 0.70% annually, an open position maintenance fee of 0.50% annually for most listed shares, ETFs, indices and commodities, and an FX conversion fee of 0.70%.
“Following strong demand and a growing waiting list, our Spectre account is now available to all clients, including retail investors, following the initial launch to professional-only clients,” said Lord Peter Cruddas, founder and CEO of CMC Markets.
The product covers indices, forex, shares, ETFs, cryptocurrencies and precious metals from a single account.
CMC first rolled out Spectre to UK professional traders in late 2025. The retail expansion comes during an active product cycle for the company, which has also launched weekend gold trading, a Junior Cash ISA, its CapX tokenised share trading pilot and a new multi-asset platform in 2026.
