Spreadex Review 2024
Website: www.spreadex.com
Min. Deposit: US$ 0
Leverage: 1:30
Trading Platforms: Spreadex platfrom
Regulation: FCA
Headquarters: UK
Founded: 1999
Regulatory Licenses:
- Spreadex Limited - authorized by FCA (UK) registration no. 190941
Updated on February 29, 2024
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Spreadex, an online FX broker established in 1999, has steadily grown into a notable figure in the financial trading service sector, also offering spread betting and sports betting through its office in London. Initially launching an online sports betting service in 2006, Spreadex expanded its offerings to include a financial online trading platform. The company has demonstrated positive growth and a commitment to quality service delivery, positioning itself as one of the leading spread betting firm brokers in the UK.
Pros
Spreadex is recognized by experts as a good and reliable broker with several years of proper operation and good regulation under its belt.
The broker offers excellent trading conditions for CFD traders and provides access to spread betting for its UK clients.
A userfriendly trading platform is provided, supported by good customer service and insightful video tutorials.
Cons
The broker's instrument offering is limited to FX and CFDs.
Lack of 24/7 support and higher fees for fixed spreads are notable drawbacks.
The educational section is underdeveloped, and the absence of a demo account is a significant disadvantage.
The absence of MT4 and/or MT5 platforms is also considered a con.
Spreadex Review Summary in 12 Points ▲
Headquarters: The UK
Regulation: FCA
Platforms: Not specified
Instruments: Forex, Share, Indices, Commodities, Bonds, ETFs, Cryptocurrencies, Interest Rates, Options
EUR/USD Spread: 0.6
Demo Account: Not Available
Minimum deposit: No Minimum Deposit
Base currencies: USD, GBP, or EUR
Education: Available
Customer Support: 24/5
Based on our comprehensive review and expert opinion, Spreadex is a trusted broker with strong regulation and favorable trading conditions. It offers clients a variety of instruments with competitive spreads and ensures trading protection while charging low fees for transactions. Spreadex's Overall Ranking is 4.0 out of 5, based on our thorough testing and comparison to over 1000 brokers.
Spreadex is deemed safe as it is a UK-based brokerage and sports betting firm fully licensed by the FCA (Financial Conduct Authority), presenting low-risk Forex trading options. Spreadex’s trading offerings and operations fully comply with regulatory requirements, ensuring reliability through a regulatory framework and transparency. Our Ranked Spreadex Trust Score is 4.3 out of 5 for its reputable operation over the years, stringent regulation by a top-tier financial authority, and exceptional client protection measures.
Spreadex's stable and profitable track record, along with meeting sufficient capital requirements, underscores the company’s reliability and instills confidence in clients. Customer protection is guaranteed according to FCA rules, ensuring that client funds are safe and segregated in top-tier bank accounts. Moreover, clients are also covered by the FSCS Scheme, which compensates up to 50,000 GBP in the unlikely event of the company’s insolvency, further enhancing the safety net for investors.
Spreadex is a forex broker whose fees and spread structure are designed to be competitive and transparent. The broker does not impose any charges for deposits or withdrawals, a feature that sets it apart from many in the industry. However, potential traders should remain vigilant for other possible fees such as funding or inactivity charges. Through a comprehensive evaluation, Spreadex's fees have been deemed low, achieving a commendable score of 4.5 out of 5 when assessed in comparison to over 1000 other brokers. This evaluation considers the overall pricing and fee structure offered by Spreadex, marking it as both good and competitive within the market.
Detailed Analysis of Spreadex Fees ▲
The fee structure at Spreadex is primarily incorporated into the spread, ensuring a straightforward and transparent cost model for traders. The absence of deposit or withdrawal fees is a significant advantage, although it's advisable for traders to review potential charges like funding or inactivity fees. Based on extensive comparative research, Spreadex's fee structure is ranked competitively, with an overall rating of 4.5 out of 5. This ranking reflects a detailed examination of the broker's fees in relation to offerings by other entities, highlighting Spreadex's position as a competitive choice for traders.
Spreadex's cost framework is integrated mainly through fixed tight spreads for various markets such as indices, shares, and commodities, with variable spreads applicable to Forex instruments. For instance, the spread starts from 1 point on the UK100 and Germany 30, and 1.7 on Wall Street. Additionally, Forex spreads are notably lower than the industry's average, with EURUSD spreads being significantly less than the 1.2 pips norm. Spreadex also offers financial spread betting, providing spreads from as low as 0.6 points alongside leading margin rates, particularly for UK AIM stocks. This comprehensive analysis positions Spreadex's spreads with a high rating of 4.5 out of 5, indicating its attractiveness and competitiveness in comparison to other brokers.
Pros
No deposit or withdrawal fees
Competitive spread and fee structure
Lower than average Forex spreads
Cons
Potential funding or inactivity fees
Leverage levels for this UK-based forex broker are strictly regulated, adhering to the legal restrictions imposed on the company. Retail traders can access a maximum leverage of 1:30 for major currency pairs, with lower ratios available for other financial instruments. Professional traders, upon verification of their status, are granted access to higher leverage ratios. This provision comes alongside specific conditions related to spread betting and trading services that the broker may offer.
This broker provides a straightforward account setup, requiring applicants to complete a form and proceed with account funding to commence live trading. International applications are accepted, though restrictions may apply in certain regions due to legal and regulatory constraints. The account interface is designed for ease of use, offering features such as online history viewing, instant bet confirmations, and customizable trading preferences.
Our evaluation of the broker's trading platform reveals a proprietary system that is both customizable and reliable. Available through web and mobile applications, the platform grants access to a variety of trading instruments, including spread bets and CFDs, equipped with advanced charting tools, award-winning execution, price alerts, and watch lists. Despite the absence of MetaTrader4 and MetaTrader5 alternatives, the platform boasts sophisticated technical analysis features, drawing tools, extensive price history, and powerful indicators.
The review concludes with an appraisal of the broker's significant growth within the UK market, highlighting its achievements in spread betting and sports betting services. The broker offers a wide range of financial instruments and markets, competitive fees, and a proprietary trading platform rich in tools and capabilities. While spread betting remains a focal point, the broker's offerings cater to a diverse clientele, including professional traders, those employing various trading strategies, and individuals interested in currency trading, CFD trading, and CFD shares trading.
