This free Excel spread betting journal template is built specifically for UK traders who size positions in £/point — not share count or contract size. It captures the two things most generic templates miss entirely: overnight funding charges and margin utilisation, giving you a clean gross vs. net P&L split so your tax-free take-home is always visible.
What’s Included
- Trade Log sheet — Records instrument, provider, direction, £/point stake, opening and closing levels, gross point P&L, and net GBP P&L in a single row per trade.
- Overnight Funding Tracker — Calculates per-night funding drag automatically using the formula (notional × annual rate) ÷ 365 × nights held. Enter nights held; the charge populates.
- Margin Utilisation column — Shows margin locked per trade as both a GBP amount and a percentage of account balance, plus a running total so you can see overall exposure at a glance.
- Provider field — Tag each trade with your broker (IG, CMC, Spreadex, City Index) to segment win rate, average P&L, and total funding paid by venue.
- Gross vs. Net P&L split — Gross column shows points gain × stake; net column subtracts all funding charges. The difference makes carry cost visible on every trade.
- FCA leverage reference table — A fixed reference sheet showing current retail leverage caps: 30:1 major FX, 20:1 indices, 10:1 commodities/minor FX, 5:1 shares, 2:1 crypto.
- Monthly Summary sheet — Aggregates net tax-free profit, total funding drag, win rate, and average R-multiple by month and by provider using built-in AVERAGEIF formulas.
How to Use
Step 1: Configure Your Account Settings
Open the Settings sheet. Enter your starting account balance in B2 and your provider’s annual overnight funding rate in B4. As of early 2025, SONIA sits at approximately 5.2% and most UK providers add 2.5–3% on top, giving a total rate of roughly 7.5–8.2% p.a. on notional. This single cell feeds the funding formula across every trade row — update it if your provider changes their rate.
Step 2: Enter Each Trade at Open
In the Trade Log, fill columns A–F when you open a position: date, instrument, provider, direction (Long or Short), £/point stake, and opening level. Column H (margin required) calculates as notional × your margin rate. Column I shows that margin as a percentage of your account balance — this is the figure to watch against FCA leverage caps.
Step 3: Track Overnight Funding
For each night the position remains open, enter the number of nights held in column J. Column K computes the total funding charge automatically: (opening level × stake × funding rate) ÷ 365 × nights. To use the worked example: a long FTSE 100 trade at 7,820 with a £5/point stake has a notional value of £39,100. At 8% annualised, that is £8.57 per night. After 3 nights the funding drag is £25.71 — an amount that becomes meaningful relative to the trade’s gross P&L.
Step 4: Close the Trade
Enter the closing level in column G. Gross P&L (column L) calculates as (close − open) × stake for longs. For the FTSE 100 example above, closing at 7,880 gives 60 points × £5 = £300 gross. Net P&L (column M) subtracts the £25.71 funding charge, leaving £274.29. Because spread betting profits are exempt from CGT and Income Tax under HMRC BIM22017, that £274.29 is the complete take-home figure — no further tax adjustment needed.
Step 5: Review the Monthly Summary
Each month, open the Summary sheet to review total funding drag as a percentage of gross profit. If funding charges exceed 10% of gross profit in a month, most of those gains came from positions held for several days where carry cost eroded the edge. The provider breakdown shows which venue is generating the best risk-adjusted returns net of spread and funding.
Key Benefits
- £/point position sizing — The template uses the unit UK spread bettors actually work in, making risk calculations (stake × point risk = max loss in GBP) immediate and accurate.
- Funding drag visibility — A dedicated overnight funding column prevents the most common journaling error: treating gross point gains as final profit when held positions carry a daily cost of roughly 7.5–8.2% p.a. on notional.
- Margin discipline — The running margin utilisation metric keeps traders within FCA leverage limits and provides early warning before a margin call occurs.
- Provider benchmarking — Segmenting by IG, CMC, Spreadex, or City Index reveals real differences in net performance once spread width and funding costs are factored in.
- Simplified tax section — No CGT worksheet, no allowance calculations, no disposal records. The net P&L column is the final number.
Template vs JournalPlus App
| Feature | This Template | JournalPlus App |
|---|---|---|
| Position Sizing Unit | £/point, manual entry | £/point, auto-import from broker |
| Overnight Funding | Manual nights-held entry | Automatic from broker statements |
| Margin Utilisation | Per-trade calculation | Real-time account dashboard |
| Provider Comparison | Filter/pivot manually | Dedicated venue analytics |
| Performance Metrics | Win rate, avg R, monthly P&L | 30+ metrics including funding-adjusted returns |
| FCA Leverage Alerts | Reference table only | Alerts when approaching limit |
| Price | Free | £159 one-time, lifetime access |
This template is a complete, working solution for any UK spread bettor who wants a structured record of their trades. When trade volume grows and manually entering funding charges becomes a bottleneck, JournalPlus picks up where the spreadsheet leaves off — with automatic imports and a margin dashboard built for the £/point world.
Download
Download the free Spread Betting Journal Template and start tracking your trades today. No account required — open in Excel or upload to Google Sheets.
Frequently Asked Questions
Is a spread betting journal template different from a regular trading journal?
Yes. A spread betting journal must use £/point as the position sizing unit rather than share count or contract size. It also needs a dedicated overnight funding column — generic templates omit this, which causes traders to systematically overstate profitability on positions held for multiple days.
Are spread betting profits tax-free in the UK?
Yes. Under HMRC’s gambling exemption (confirmed in BIM22017), spread betting profits are exempt from Capital Gains Tax, Income Tax, and Stamp Duty Reserve Tax. The net P&L in your journal is your actual take-home amount with no further tax calculation required.
How do I calculate overnight funding charges in a spreadsheet?
The formula is (opening level × £/point stake × annual funding rate) ÷ 365 × nights held. Using an 8% annual rate, a £5/point FTSE 100 position opened at 7,820 costs £8.57 per night. SONIA was approximately 5.2% in early 2025; most providers add 2.5–3% on top, giving a total rate of roughly 7.5–8.2% p.a. on the notional value.
What leverage limits apply to UK spread betting accounts?
Following FCA post-ESMA rules, retail clients face caps of 30:1 on major FX pairs, 20:1 on major indices, 10:1 on commodities and minor FX, 5:1 on individual shares, and 2:1 on cryptocurrency. The FCA also mandated negative balance protection for retail clients in 2019, so losses cannot exceed your deposited balance.
Can I use this template for any UK spread betting provider?
Yes. The template includes a provider field so you can segment results by IG Markets, CMC Markets, Spreadex, City Index, or any other FCA-regulated venue. Each provider has different spread widths and funding rate formulas, so segmenting by provider helps identify where your edge is strongest and where carry costs are highest.
