Spreadex Broker Review 2024

Spreadex is a UK-based financial powerhouse that has been providing spread betting, CFDs, and Options on various markets since 1999. What markets are available on Spreadex broker?

We’ll delve deep into the company's offerings, exploring everything from its unique spread betting services to its robust CFD trading platform for desktop, Android, and iOS in this Spreadex review.

Spreadex; Company Introduction and Licenses

Spreadex, founded on 25 February 1999 by former City dealer Jonathan Hufford, has grown from a modest startup to one of the UK's leading financial services providers. The company’s net worth was reported at £111.5M in 2023, according to Company Check.

The company offers a diverse range of services, including financial spread betting, CFD trading, and many more. As you know, regulation and licensing are crucial aspects of any reputable broker. Spreadex operates under the watchful eye of the Financial Conduct Authority (FCA) in the UK.

Spreadex Broker Table of Specifications

The company has been recognized by the Financial Times as one of the top 1000 fastest-growing companies in Europe, a testament to its continued success and excellent features, including:

Spreadex Account Types

Unlike many brokers that offer multiple account tiers, Spreadex keeps things simple with a single live account type for its financial trading services. This approach aligns with the company's ethos of making trading accessible to all. Key features of Spreadex Live account:

• No minimum deposit requirement;
• Access to 3000+ financial instruments;
• Competitive spreads starting from 0.60 pips on major forex pairs;
• Leverage up to 1:30 for retail clients (higher for professional clients, subject to eligibility);
• No commissions on most trades (spread betting);
• Advanced charting tools and market analysis;
• Mobile trading apps for iOS and Android.

It's worth noting that while Spreadex doesn't offer traditional demo accounts, they do provide a "Try for Free" option on their sports spread betting platform, allowing new users to get a feel for how spread betting works without risking real money.

Spreadex Pros & Cons

To help you make an informed decision, let's break down the main advantages and disadvantages of using Spreadex as your broker.

Spreadex Broker Account Opening and Verification

Opening an account with the company is a straightforward process, designed to get you trading as quickly as possible while adhering to regulatory requirements. Here's a step-by-step guide to opening your Spreadex account.

1. Visit the broker’s official website;
2. Click the "Create an Account" in the “Financial Trading” section;
3. Fill in the online application form with your personal details;
4. Submit your application.

The broker is required to verify your identity and address as part of anti-money laundering (AML) regulations. Required documents for Spreadex KYC:

• Providing a copy of a government-issued ID (passport, driver's license);
• Proof of address (recent utility bill or bank statement).

Spreadex Trading Platforms [proprietary platform]

At this stage of the Spreadex review, we must discuss trading platforms. The broker offers a proprietary trading platform for desktop and mobile users and the robust TradingView.

Spreadex Trading

• Android;
• iOS;
• Web.

TradingView

• Android;
• iOS;
• Web;
• Windows;
• macOS;
• Linux.

Spreadex Commission and Spread

Understanding the cost structure is crucial when choosing a broker. Spreadex offers a competitive fee structure, but it's important to note that the costs can vary depending on the type of trading you're engaged in (spread betting vs. CFD trading) and the specific markets you're trading.

Spread Betting

• No commission charges;
• Costs are built into the spread;
• Spreads start from 0.60 pips on major forex pairs;
• Tax-free profits for UK residents (subject to current tax laws).

CFD Trading

• Commission charges apply for share CFDs;
• Typical commission of 0.1% of the trade value (minimum £10);
• Spreads are generally tighter than spread betting.

Spreadex Broker Payment Methods

The company offers a variety of payment methods to cater to different user preferences and needs.

• Credit/Debit Cards: Visa, MasterCard, Maestro;
• Bank Transfer: Available for deposits and withdrawals;
• Apple Pay: Instant transactions;
• Google Pay: Similar to Apple Pay, but for Android users;
• Cheques: Accepted for deposits with longer processing time (5-7 business days).

Withdrawals are generally processed using the same method used for deposit. While there are no charges on deposits, Credit/Debit Card transactions under €50 will be subjected to a £1 commission.

Spreadex Copy Trading and Growth Plans?

It's important to note that the broker does not offer copy trading or social trading features directly. This absence is a significant consideration for traders who rely on or enjoy these services.

However, the integration with TradingView enables you to exploit the benefits of a rich trading community with over 50M users and start social trading.

Spreadex Financial Instruments

It’s time to explore the financial markets in this Spreadex review. The broker offers a wide array of financial instruments, allowing traders to diversify their portfolios.

• Shares: Trade CFDs on thousands of global stocks;
• Indices: Access major world indices with spreads from 0.6 pips;
• Forex: Trade currency pairs with competitive spreads 24 hours a day;
• Commodities: Trade gold, oil, and other popular commodities;
• Cryptocurrencies: Speculate on major digital currencies;
• Bonds: Treasuries like UK Long Gilt or US T-Bond or interest rates such as Short Sterling or Eurodollar;
• ETFs: Trade the most popular indices as a bundle.

Spreadex Broker Promotion and Bonus Plans

The company understands the importance of incentivizing both new and existing customers. Here are some of their standout promotions.

• Financial Times: deposit £500 in your new account and receive a 6-month gift subscription;
• TradingView Premium: Open an account with an initial balance of £500 and get a premium account for 3 months;
• Affiliate: Various payment schemes, including CPAs;
• Referral: Earn £500 for each qualified referred client.

How to Reach Spreadex Customer Support

The company prides itself on providing excellent customer support through various channels.

However, there’s a downside to it. Support is not available 24/7. The team assists you 24 hours a day, Monday to Thursday (Friday 00:00 - 21:15, Sunday 21:00 - 00:00, and Saturday Closed).

Spreadex Broker Restricted Countries

The company offers its financial markets services globally, and there are almost no restrictions for any specific regions. However, if your country of residence prohibits these types of services, the responsibility is yours.

Spreadex User Satisfaction and Trust Scores

One of the most important topics in this Spreadex review is user satisfaction. The broker, with over two decades of experience, has garnered impressive user satisfaction ratings.

Spreadex Broker Education Hub

The company is committed to trader education, offering a robust “Education Hub” which covers various topics, including:

• Introduction to financial markets;
• Spread Betting and CFD Trading;
• Trading with Spreadex;
• Trading strategies;
• Chart analysis.

Conclusion and Final Words

Spreadex, with its user-friendly platform and integration with the robust TradingView platform, covers various asset classes from Forex to Crypto.

Spreadex broker offers CFDs, Spread Betting, and Options on 3000+ financial instruments with low spreads and mostly commission-free. Share your thoughts about the Spreadex review in the comments.