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Spreadex Broker Review 2024

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Spreadex Broker Review 2024
Options Trading CFDs Affiliate Spread Betting
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Your Capital is at risk.

Investing and trading in financial markets such as the stock exchange, forex, digital currencies in the form of spot or with leverage face a high inherent risk. According to the statistics of all exchanges and brokers, more than 75% of people lose!

Overview
Company:Spreadex
Founded:UK
Min Deposit:1
Max Leverage:30
Headquarter:Hertford, United Kingdom
US Accepted:
About
Spreadex is a leading trading services provider across various markets, including Forex, Crypto, Bonds, ETFs, Metals, Energies, etc., with leverage options up to 1:30. The broker provides CFDs, Options, and Spread Betting with tight spreads through TradingView and a dedicated app for Android, iOS, and Web.
Contact
Spreadex Ltd. Churchill House Upper Marlborough Road St Albans Hertfordshire AL1 3UU
Rank and Score
Pros and Cons
Account Types
Platforms
Pros
Customizable execution settings
No inactivity fees
Better-than-average spreads
Offers popular TradingView platform
Cons
No demo account available
MetaTrader platform not supported
Lack of 24/7 support

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?

Weā€™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
A brokerage company titled the ā€œBest Spread Betting Providerā€ at the Money AM and Good Money Guide Awards

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 companyā€™s 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

Why Spreadex? (Pros & Cons)
Spreadex is an award-winning broker as the best customer service provider

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.

  1. Visit the brokerā€™s official website;
  2. Click the "Create an Account" in the ā€œFinancial Tradingā€ 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

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).
Spreadex Payment Methods
The minimum withdrawal is Ā£50 of cleared funds not being used as margin

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, thereā€™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).

Email

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

Spreadex Trust Score on TrustPilot
The broker has received only five negative reviews on TrustPilot and has replied to 4 of them within a month

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.

TrustPilot

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.

FAQs

Is Spreadex regulated?

The broker is regulated by the UK FCA.

Can I trade cryptocurrencies?

Yes, the company offers cryptocurrency trading.

Does Spreadex offer a demo account?

No, there is no dedicated demo account.

What is the minimum deposit?

There are no requirements for minimum deposits.

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