Editor’s Verdict
Overview
Review
Headquarters | United Kingdom |
|---|---|
Regulators | FCA |
Year Established | 1999 |
Execution Type(s) | Market Maker |
Minimum Deposit | None |
Trading Platform(s) | Proprietary platform, Web-based |
Islamic Account | |
Signals | |
US Persons Accepted? | |
Managed Accounts |
Spreadex was established in 1999 and has, since then, continuously expanded in the sports and spread betting sectors. Between 2006 and 2008, it was identified as one of the Top 100 most profitable UK companies by the Sunday Times PriceWaterhouseCoopers Profit Track 100 list. Spreadex is among the most customer-friendly brokers in operation today, as evidenced by the Investment Trends UK, CFD, FX, and Spread Betting Report, which named Spreadex as the best spread betting firm for customer service five times. Spreadex primarily focuses on clients who prefer trading from mobile devices, it maintains an exceptional asset selection, and continues to increase market share via acquisitions and organic growth.
Regulation and Security
Spreadex LTD is authorized and regulated by the UK Financial Conduct Authority (FCA). Client deposits remain segregated from company funds, and enjoy the protection of the Financial Services Compensation Scheme (FSCS), up to £85,000, in the unlikely event of default. Relevant documents are available on the corporate website, together with a risk notice. This company remains fully compliant with its regulator and has a clean track record.
Everything is in order, but Spreadex emphasizes regulation less than competitors.
Fees
A combination of spreads and commission on CFDs represents the primary revenue source for this market maker. Spreadex also profits directly from client losses, where it acts as a counterparty. The pricing structure is acceptable, with the EUR/USD listed from a minimum spread of 0.6 pips. CFD commissions can be as low as 0.1%, offering an attractive cost structure geared towards trader profitability rather than broker revenues.32323232
Spreadex is fully transparent about all costs involved, which may be obtained directly from the website. Corporate actions such as dividends and mergers are passed on to relevant client portfolios. A premium for guaranteed stop orders exists, and third-party charges related to deposits and withdrawals apply. The overall fees are kept at a minimum, creating a competitive edge.
Spreadex is transparent about all involved trading costs.
Currency pairs rank in the middle of the pricing range, as compared to rival brokers.
What Can I Trade
Traders will find an extensive asset selection, consisting of thousands of equity CFDs across fifteen countries, complemented by over 20 index CFDs. Forex traders have access to over 50 currency pairs, while more than 20 commodity CFDs provide proper cross-asset diversification opportunities. A minor selection of bonds and interest rate CFDs introduce traders to this sector, repeated with options and cryptocurrency trading. Rounding up the acceptable asset choice is over 200 ETFs.
Spreadex maintains an excellent asset selection across eight sectors.
Account Types
International traders will manage their portfolios from the CFD account, which is identical for all clients. UK-based traders may additionally use a tax-free spread betting account. There are no minimum deposits, and there is no upselling of superior services for more significant deposits. An upgrade to professional status is available upon request and provided conditions are satisfied. Spreadex democratized client classification, joining a trend among retail brokerages to treat all accounts equally. The same account additionally grants clients access to the company’s sports betting services.
Traders may choose between spread betting and CFD trading.
An upgrade to professional account status is possible, if criteria is met.
Trading Platforms
Spreadex features a proprietary trading platform, available as a webtrader or mobile version. It is advertised as an award-winning platform, equipped with an advanced charting package, and featuring automated pro trend lines and chart pattern recognition. Advanced orders and price alerts are equally noted, together with one-click trading from the chart. It duplicates MT4 trading platform features with a more professional interface but does not support automated trading solutions. Regrettably, the MT4 trading platform is not supported, as Spreadex focuses on spread betting, which is unsuitable for MT4. Third-party app development is not enabled. Traders have access to an acceptable trading platform, but the inability to deploy automated solutions places advanced traders at a clear disadvantage, especially considering the range of markets available.
The proprietary trading platform is sufficient for new clients and manual trading strategies.
The trading platform does feature fundamental tools, but the lack of support for automated trading is a misstep.
Unique Features
UK based clients classified as professional traders may request a tax-free credit limit. It is comparable to that of a “no deposit bonus” often provided by competing brokers to clients. Spreadex focuses on the core trading environment, where it maintains an acceptable overall product and services portfolio, placing it in the top-half of brokers. No unique features are present for retail traders.
The interest-free credit limit is exclusive to UK professional traders.
Research and Education
Spreadex does not generate in-house research. It does publish a daily and weekly market commentary where traders are provided with a brief description of developments; regrettably, no signals or ideas are offered. The trading platform has a candlestick pattern recognition program, which may assist in identifying trading opportunities. An economic diary is available, but the absence of proper research is dominant.
Education is emphasized more than research but appears scattered and disorganized. Rather than maintaining a distinct educational category, fundamental lessons are briefly described and listed in the Analysis and Get Started sections of the website. The limited articles feature an acceptable introduction to essential topics without provision for a more comprehensive lesson. An FAQ section and glossary attempt to cover the shortfalls of the broad educational content, but the final product resembles an unfinished service to new traders. The video training center merely discusses how to operate the trading platform. While there is potential, it would require a complete overhaul to resemble a genuine attempt to increase the knowledge base of new traders.
While no research is available to traders, a daily and weekly market commentary is published.
The economic diary highlights essential fundamental reports.
The candlestick pattern recognition tool offers the most valuable research assistance at Spreadex.
A basic introduction to chart analysis is available.
Spreadex offers a brief explanation of chart patterns.
Fundamental topics follow the same brief explanatory format.
Customer Support
Customer Support Methods |  |
|---|---|
Support Hours | 24/5 |
Website Languages |  |
Customer support is available 24/5 and may be requested by sending an e-mail or calling directly. The video training center, glossary, and FAQ sections attempt to answer most questions, reducing the need for additional assistance. Spreadex is a well-managed brokerage, focused on maintaining an efficient core trading environment. Most traders are unlikely to require customer support.
A dedicated financial trading room is available alongside customer support.
Bonuses and Promotions
Spreadex neither offers bonuses nor hosts special promotions.
Opening an Account
Per industry standards, new accounts are processed via a brief online application form that grants traders access to the back-office. Spreadex is an FCA regulated broker, and account verification is mandatory to satisfy AML/KYC stipulations. A copy of the trader’s ID and one proof of residency document usually complete this step. Given the spotless regulatory track record, traders can trust Spreadex with their personal and financial information.
An online application processes new account openings.
Deposits and Withdrawals
Spreadex only supports bank wires and credit/debit cards. The absence of third-party processors and a modern approach to financial management is disappointing and a serious misstep by this broker. Deposits under £50 incur an additional £1 fee. The minimum withdrawal amount is £50, and if the account balance is less than that, a full withdrawal must be requested. Currency conversion costs apply, but Spreadex focuses primarily on UK based clients. Processing times are as high as five business days. Per the industry standard, the name on the trading account and Spreadex account must be identical.
The limited options to fund trading accounts is disappointing.
Withdrawals may take up to five business days.
UK-based clients are the focus of Spreadex.
Trading Platform
MT4 | |
|---|---|
MT5 | |
cTrader | |
Proprietary Platform | |
Automated Trading | |
Guaranteed Stop Loss | |
Scalping | |
Hedging | |
OCO Orders | |
Interest on Margin |
Summary
Spreadex is a popular choice as a spread betting broker, especially in the UK. In operation since 1999, this brokerage has expanded aggressively through a series of acquisitions, which included growing its sports betting business. CFD trading is available, but the tax-free nature of spread betting makes it a superior choice for UK traders. Spreadex has received numerous awards, admittedly, most from past years when the company was more vibrant. Despite serving clients for over two decades, it has only 60,000 active accounts. The broker's somewhat narrow focus can be partially to blame, while Spreadex appears to have slowed its organic growth rate after it ended its buying spree. The company shifted its attention towards betting (as evident with the addition of a casino) and away from trading.
The company is regulated in the UK by the Financial Conduct Authority (FCA), where it is fully compliant. The trading environment is secure, and Spreadex is transparent about involved costs, which are minimal. Most assets are reasonably priced, near the middle of the range, as compared to competitors. With over 10,000 assets, the choice is excellent and allows for proper cross-asset diversification. Over 69% of traders operate their portfolio at a loss.
Only the proprietary trading platform is maintained; while it represents an acceptable choice for manual traders, the lack of support for automated trading solutions is notable. Spreadex does not publish research, but daily and weekly market commentary is available. Scattered articles which introduce elementary topics to new traders are in place, but a proper educational section is absent. The limited choice for deposits and withdrawals is regrettable.
There is nothing fundamentally wrong with Spreadex, but committed traders do not have the proper tools to manage portfolios efficiently. The asset selection may be difficult, if not impossible, for some traders to navigate without automated assistance. While the candlestick pattern recognition program resembles an attempt to remedy that, it is hardly sufficient. Besides focusing more on betting, Spreadex appears geared towards retail traders with a preference for trading on mobile devices. Spreadex remains a popular choice in the UK spread betting sector, but most international traders will find a superior offering at other well-established brokers. This broker is authorized and regulated by the UK FCA, fully compliant, and a legit broker. Spreadex charges a spread and a commission on CFD trades. Swap rates on leveraged overnight positions exist, but the overall cost-structure is minimal and competitive. Yes, it is part of the available order management options. Yes, both are available from one account. There is no minimum, but deposit amounts below £50 incur an additional £1 fee.FAQs
Is Spreadex legit?
What are the Spreadex fees?
Does Spreadex offer a trailing stop?
Are spread and sports betting offered from the same Spreadex account?
What is the minimum deposit at Spreadex?
