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?
Weāll 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 companyās net worth was reported at Ā£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:
Broker | Spreadex |
Account Types | Live |
Regulating Authorities | FCA |
Based Currencies | GBP, USD, EUR |
Minimum Deposit | Unlimited |
Deposit Methods | Credit/Debit Cards, Bank Transfer, Cheque, Apple Pay, Google Pay |
Withdrawal Methods | Credit/Debit Cards, Bank Transfer, Cheque, Apple Pay, Google Pay |
Minimum Order | 0.01 lots |
Maximum Leverage | 1:30 |
Investment Options | Copy Trading |
Trading Platforms & Apps | Proprietary Platform, TradingView |
Markets | Indices, Shares, FX, ETFs, Bonds, Interest Rates, Commodities, Crypto |
Spread | Starting from 0.60 pips on major forex pairs |
Commission | 0.1% for share CFDs |
Orders Execution | Market, Trailing Stop, Instant, Force Open, Guaranteed Stops |
Margin Call / Stop Out | 100% / 50% |
Trading Features | Spread Betting, Options Trading, CFDs |
Affiliate Program | Yes |
Bonus & Promotions | FT Subscription, TradingView Premium, Referral |
Islamic Account | No |
PAMM Account | Yes |
Customer Support Ways | Email, Live Chat, Phone |
Customer Support Hours | 24/4 Friday 00:00 - 21:15 Sunday 21:00 - 00:00 Saturday Closed |
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.
Pros | Cons |
Offers popular TradingView platform | MetaTrader platform not supported |
Better-than-average spreads | No demo account available |
No inactivity fees | Limited educational resources compared to some competitors |
Customizable execution settings | Lack of 24/7 support |
Regulated by FCA | - |
Unique spread betting offerings | - |
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.
- Visit the brokerās official website;
- Click the "Create an Account" in the āFinancial Tradingā section;
- Fill in the online application form with your personal details;
- 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
TradingView
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 Ā£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 ā¬50 will be subjected to a Ā£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 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 Ā£500 in your new account and receive a 6-month gift subscription;
- TradingView Premium: Open an account with an initial balance of Ā£500 and get a premium account for 3 months;
- Affiliate: Various payment schemes, including CPAs;
- Referral: Earn Ā£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, thereās 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).
fins@spreadex.com | |
Phone | +44 1727 895 151 |
Live Chat | Quick responses during business hours |
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.
4.5 out of 5 based on 112 comments | |
Reviews.io | 3.1 out of 5 based on 15 reviews |
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.