Spreadex Review
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Minimum Deposit: $20 |  |
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Minimum Deposit: $250 | |
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Minimum Deposit: $250 | |
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Minimum Deposit: $100 | |
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No deposit bonus | Minimum Deposit: $10 | |
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Minimum Deposit: $250 | |
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No deposit bonus | Minimum Deposit: $100 | |
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No deposit bonus | Minimum Deposit: $10 | |
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No deposit bonus | Minimum Deposit: $25 | |
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No deposit bonus | Minimum Deposit: $100 | |
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No deposit bonus | Minimum Deposit: $500 | |
Spread betting and CFD trading can lead to rapid profits but also carries high risk of losses. Choosing a secure and regulated broker platform is critical before you invest money. Spreadex is a leading UK-based spread betting and CFD broker catering to this need.
This Spreadex review will evaluate this broker across key criteria – trading conditions, platforms, asset classes, pricing, and reliability. Is Spreadex a reputable partner for spread betting and CFD trading? Read this unbiased Spreadex broker review to find out.
What is Spreadex? An Overview
Founded in 1999, Spreadex is a prominent spread betting and CFD broker based in the UK. It provides access to over 10,000 financial instruments spanning major asset classes – shares, forex, indices, commodities, and cryptocurrencies.
Spreadex offers spread betting for tax-free profits, along with traditional CFD trading from a single, integrated trading account. Leverage up to 1:30 and 24/7 trading is available. Their proprietary web and mobile platforms provide advanced tools for analysis, risk management, integrated news feeds and more.
Spreadex positions itself as a premium broker focusing on smaller cap UK stocks, pricing transparency, platform reliability and customer service over marketing gimmicks. With decades of experience, it strives to provide a trusted trading venue suited to all client levels.
Pros and Cons of Spreadex
| Advantages of Spreadex | Disadvantages of Spreadex |
| Well-regulated broker with over 20 years in business | Product range limited to spread bets and CFDs |
| Spread betting and CFD trading offered | No MetaTrader 4 or 5 platforms offered |
| Specializes in smaller cap UK shares | Limited educational resources for new traders |
| Great personal customer service | Spread betting services only for UK clients |
| Advanced yet user-friendly web/mobile platforms | Not a publicly listed company |
| Low and transparent spreads |
Overview of Spreadex Trading Conditions
Spreadex offers an intuitive web-based trading platform with mobile apps available. The platform includes risk management tools like stops and limits and advanced charting with technical indicators. It was built in-house so the interface is clean and focused on core trading functionality rather than flashy bells & whistles.
Integrated third-party research and news feeds provide market analysis and commentary from sources like Reuters. For direct trading insight, Spreadex dealers regularly publish reports and updates on the platform.
Spreadex requires a minimum deposit of £100 to open a live account. The maximum leverage offered is 1:30 across financial products. Over 10,000 tradable instruments are available spanning:
- UK & International Shares
- Stock Indices – FTSE 100, S&P 500 etc
- Commodities like gold, oil natural gas
- Treasury Bonds & Fixed Income
- Forex Majors, Minors & Exotics
- Leading Cryptocurrencies
- Options on Indices like FTSE & DAX
Popular global markets across asset classes are covered. For deposits and withdrawals, clients can use debit/credit cards, bank wire transfers or e-wallets. Deposits are processed instantly while withdrawals are typically completed within 24 hours.
Spreadex does not charge any trading commissions. It earns revenue through the spreads or markup between the buy and sell price as per industry standards. Average spreads start from just 0.1% on UK shares. Swaps or overnight financing fees apply for keeping trades open beyond daily cut-off.
Spreadex Bonuses
Spreadex currently does not offer any new account joining bonuses, promotions or rewards programs. As a spread betting and CFD focused broker catering predominantly to active traders rather than buy-and-hold investors, bonuses are not a priority element in their product design.
Trading Fees: How Much Does It Cost?
Instead of fees, Spreadex earns revenue from the spread between the buy and sell price. Spreads are competitive, starting from just 0.1% on UK shares.
Some examples:
- FTSE 100 spread: 1 pt
- EUR/USD spread: 0.4 pts
- US shares spread: $0.02 per share
There are no separate trading commissions except a small $3.50 cap per trade on major US stocks. For longer term trades held overnight, financing rates are charged at 3% over the SONIA benchmark rate, a competitive rate.
Inactivity fees kick in after 12 months of no trading activity. Charged at £2 per month, this covers maintenance costs for maintaining open positions and your account access.
Overall trading costs are competitive and aligned with other major UK spread betting brokers. Cost structure is transparent with spread markups explicitly specified upfront.
Charts and Analysis on Spreadex
Spreadex provides a full-featured proprietary web trading platform and mobile apps tailored for spread betting and CFD traders. The platform comes packed with 100+ technical indicators, customizable charts and advanced drawing tools to technically analyze markets across various timeframes for trading opportunities. Some key features are:
Charting
- Candlestick, line, hollow candlestick charts
- 9 timeframes from 1 minute to 1 month
- Multiple chart tabs and templates
Drawing & Studies
- Trendlines, channels, arrows, shapes, text etc.
- Over 65 technical indicators
- Integrated news commentary feeds
Alerts & Notifications
- Price, indicator and news alerts
- Push notifications on mobile app
- Pre-defined chart pattern alerts
Research
- Economic calendar
- Watchlists
- Company reports/fundamentals
- Reuters news
The analysis toolkit caters to both casual traders and advanced power users for devising trading strategies across markets.
How to Trade on the Spreadex Platform
Step 1: Getting Started
Opening a Spreadex trading account is quick and online-based:
- Visit spreadex.com and click ‘Open Account’
- Fill in personal details and confirm ID
- Deposit funds via card or bank transfer
- Access web & mobile trading platforms
Step 2: Placing Trades
Spreadex allows both spread betting and CFD trading:
Spread Betting
- Tax-free profits for UK residents
- Bet per point on price movements
- Use stops to limit potential losses
CFD Trading
- Trade on underlying price without direct ownership
- Risk management tools like stops & limits
- Hold long or short positions
Trades can be placed directly from updated streaming price charts in just a few clicks.
Spreadex Mobile App
Spreadex provides iOS and Android mobile trading apps that are simple and intuitive to use. The app includes core functionality like real-time pricing, charting, trades, orders, and account management.
It provides a seamless experience for traders on the go to analyze prices and manage existing positions and orders. Streaming price alerts can also be set to notify you of opportunities wherever you are.
The app is free to download and login is the same as your web account details. Biometric login like fingerprint authentication is not yet supported.
Downloading the Spreadex Mobile App
Spreadex offers iOS and Android mobile apps that provide a seamless experience for trading on-the-go. The apps can be downloaded easily in a few steps:
For iPhone & iPad
- Open the Apple App Store on your iOS device
- Tap the search bar and type “Spreadex”
- The Spreadex trading app will appear as the top result
- Tap on the Spreadex icon to view app details
- Click “Get” to begin the install process
- App will begin downloading and you will then be able to open it
For Android Devices
- Launch the Google Play Store app on your Android phone or tablet
- Search for “Spreadex Trader”
- The Spreadex trading app will show up on top
- Tap on the Spreadex icon and then click “Install”
- Accept requested permissions and app will begin installing
- You can then open the Spreadex app from your apps menu
The apps provide the same functionality as the web platform with live streaming prices, charts, trading, orders, alerts and account management tools adapted for mobile screens. The apps are free to download and new account registration can also be easily completed on mobile.
How to Trade Different Assets on Spreadex
The Spreadex trading platform provides access to a diverse range of over 2000 instruments across global markets. Here are some pointers on trading the major asset classes:
Shares/Equities
To trade share CFDs:
- Search for company stocks under ‘Shares’ section
- Select underlying share and enter CFD position size
- Choose ‘Buy’ or ‘Sell’ side based on price direction outlook
- Set guaranteed stop-loss orders for risk control
Currencies/Forex
To speculate on currency fluctuations:
- From ‘Currencies’ menu, select preferred forex pair
- Adjust trade size volume as per account leverage limits
- Place buy/sell order to open long/short CFD position
- Implement take profit and stop loss levels
Indices
- Find major indices like FTSE 100, DAX 30 under ‘Indices’ menu
- Buy or sell index CFD based on bullish or bearish view
- Utilize stop losses to limit downside risk
Commodities
To gain exposure to commodities:
- Pick instrument type like metals or energies
- Enter position size as per volatility and margin requirements
- Buy or sell CFD depending on bullish/bearish outlook
- Actively track prices and economic releases impacting commodities
Cryptocurrencies
- Select cryptocurrency like Bitcoin, Ethereum from listings
- Take buy/sell position on crypto CFD based on projection
- Use tight stop loss orders due to high crypto volatility
Can You Trade Forex on Spreadex?
Yes, Spreadex allows trading on 65+ currency pairs including EUR/USD, GBP/USD, USD/JPY etc. Spreads average ~0.4 pips for major pairs, going as low as 0.1 pips during quiet markets. Maximum leverage offered is 1:30 on currency pairs.
As a spread betting broker, you are speculating on FX moves rather than taking ownership of the underlying currencies. Use stops and limits to control risk on the volatile currency markets.
Can You Trade Binary Options on Spreadex?
No, Spreadex does not currently offer binary options trading on any assets. As an established UK spread betting firm since 1999, they remain focused on core derivative products – spread betting and CFDs across thousands of markets. Traders specifically looking for binary options will need to find other specialized brokers.
Frequently Asked Questions
What is the minimum deposit for a Spreadex account?
You need a minimum of £100 (or equivalent in other currencies) to open a live Spreadex trading account. Virtual demo accounts come preloaded with £10,000 virtual credits.
Does Spreadex accept non-UK clients?
Yes, Spreadex accepts international clients outside UK and has customers across 150+ countries. However, financial spread betting is only available for residents of the UK and Ireland.
What platforms does Spreadex offer?
Spreadex provides its own proprietary web and mobile trading platforms tailored specifically for spread betting and CFD traders. No MetaTrader integration is available currently.
How do I withdraw funds from my account?
Login to your Spreadex account through the web or mobile trader platforms. Under Funding section, click Withdrawal, select withdrawal method, enter amount, submit request. Requests received before 1 pm are typically processed same day.
Is Spreadex regulated?
Yes, Spreadex is authorized and regulated by the top-tier UK Financial Conduct Authority (FCA) under license no. 423099 for maximum investor protection and security of client funds.