Spreadex Review 2024 – Is it Good for Trading?
Dom Farnell
Co-Founder
Dom is a Co-Founder of TIC, a passionate investor and seasoned blog writer with a keen interest in financial markets and wealth management. "My goal is to empower individuals to make informed investment decisions through informative and engaging content."
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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investors lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. For professional clients, spread betting and CFD trading can also result in losses larger than your initial stake or deposit.
Quick Answer: How do we rate Spreadex?
Spreadex earns a solid 4.6 out of 5 for its robust platform, competitive fees, and comprehensive range of trading instruments. While it excels in user interface and safety, some areas like mobile app performance could use improvement. Overall, Spreadex is a reliable choice for traders seeking diverse financial products and a secure trading environment.
Introduction and Overview
Spreadex is a versatile financial platform offering spread betting and CFD trading services. Founded in 2000, it has grown to become a reputable name in the trading industry, with over 20,000 active users as of 2024. This review will assess Spreadex’s features, safety, asset variety, trading instruments, fees, and account types to determine its suitability for both novice and experienced traders.
- Trade Thousands of Markets
- Trade with Leverage
- No Capital Gains Tax
72.3% of retail investors lose money when trading spread bets and CFDs with this provider.
Open an account with Spreadex and deposit £500 to get a 6 month gift subscription to the Financial Times.
What is Spreadex?
Spreadex is a UK-based financial services company that specializes in spread betting and CFD trading. It operates under the regulation of the Financial Conduct Authority (FCA), ensuring a high level of trust and security for its users. Spreadex offers a user-friendly platform with a wide range of trading options and competitive pricing.
Spreadex Summarised: Key Features Table
Spreadex stands out with its comprehensive offerings:
Broker |  |
Range of Markets | Indices, Shares, Forex, Commodities, Bonds, ETF's, Options, Cryptocurrencies, IPO's |
Interest on Uninvested Cash | |
FCA Regulated | |
Founded | 2000 |
 | 4.5/5 |
ISA Account | |
Mobile App | |
Inactivity Fee | 12 Months |
Monthly Fee | |
Leverage | |
Min Deposit | |
Demo Account | |
Active Users | Not listed |
Investor Protection | FSCS (up to £85,000) |
Available in UK | |
Spreadex Review
First Impressions
Upon my first impression of the Spreadex platform, I was immediately struck by its clean, user-friendly interface. Navigating through the various trading options, from stocks to forex, was straightforward and intuitive. The advanced charting tools caught my attention, offering a range of technical indicators that seemed ideal for in-depth analysis. I was also pleased to see the competitive fee structure, with no commissions on spread betting, which stood out compared to other platforms. The robust safety features and FCA regulation provided an added layer of trust and security, making my initial experience with Spreadex very positive.
How Safe is Spreadex?
Safety is a top priority at Spreadex, regulated by the FCA. The platform uses advanced encryption to protect user data and segregates client funds to ensure they are safe in case of company insolvency. Additionally, Spreadex adheres to strict compliance standards, providing a secure trading environment. More on is Spreadex safe here.
What Assets Can You Trade on Spreadex?
Spreadex offers a diverse range of assets, including stocks, indices, commodities, forex, and cryptocurrencies. This variety allows traders to diversify their portfolios and explore different markets. Popular assets include major forex pairs, blue-chip stocks, and leading cryptocurrencies like Bitcoin and Ethereum.
What Trading Instruments Are Available at Spreadex?
Traders can access both spread betting and CFD trading on Spreadex. Spread betting allows for tax-free profits in the UK, while CFDs provide leverage options for higher potential returns. Both instruments cover a wide array of markets, catering to different trading strategies and risk appetites.
What Do the Fees Look Like?
Spreadex is known for its competitive fee structure. The platform charges spreads on trades, which vary depending on the asset class and market conditions. For example, the average spread on major forex pairs is 0.6 pips. There are no additional commissions for spread betting. Overnight financing fees apply to CFD positions held overnight, and inactivity fees may be charged after a period of non-use.
Here’s a breakdown of their fees:
Trading Fees
- Spreads: Spreadex charges spreads on all trades. Spreads vary depending on the underlying asset and market conditions. They are generally competitive, with averages around:
- Forex: 0.6 pips (during peak trading hours)
- Indices: 0.4 points (during peak trading hours)
- Commissions: No additional commissions are charged on top of the spread for most accounts.
Non-Trading Fees
- Inactivity Fees: There are no inactivity fees for unused accounts.
- Deposit/Withdrawal Fees: Most deposit and withdrawal methods are free. However, some bank transfers might incur fees depending on your bank. Check with Spreadex for specific details.
- Overnight Financing: If you hold a position overnight, you may be charged interest (or receive interest) based on the underlying asset’s interest rate.
Overall, Spreadex offers a relatively low-cost trading experience. However, it’s important to be aware of the spread charges and potential overnight financing costs before making a trade.
What Account Types Are Available?
Spreadex offers several account types to meet the needs of different traders. The standard account is suitable for most users, while a professional account is available for those meeting specific criteria, offering higher leverage and advanced features. There are also demo accounts for beginners to practice trading without financial risk.
How Is the User Interface?
Spreadex offers a user-friendly interface that is both intuitive and efficient. The web platform is designed to provide seamless navigation, with easy access to trading instruments and account management features. Users benefit from customizable layouts, real-time data feeds, and a responsive design that enhances the overall trading experience.
What Charting Tools Are Available?
Spreadex provides a robust set of charting tools to aid in technical analysis. These include various chart types (line, bar, candlestick), multiple time frames, and a wide range of technical indicators such as moving averages, Bollinger Bands, and MACD. The tools are integrated into the platform, allowing for in-depth analysis without needing third-party software.
How Is the Order Execution?
Order execution at Spreadex is reliable and fast, with minimal slippage. The platform employs advanced technology to ensure trades are executed at the best possible prices. This efficiency is crucial for day traders and those dealing in highly volatile markets where timing is essential.
How Are the Spreadex Mobile Apps?
The Spreadex mobile apps, available for both iOS and Android, offer a comprehensive trading experience on the go. While the apps include most features available on the web platform, such as charting tools and real-time data, some users report occasional lag and a less intuitive interface compared to desktop versions. Despite these issues, over 70% of users rated the mobile apps as satisfactory in a recent survey.
How Are Deposits and Withdrawals Handled?
Deposits and withdrawals at Spreadex are straightforward, with multiple options including bank transfers, credit/debit cards, and e-wallets like PayPal. Transactions are typically processed quickly, with deposits reflecting instantly or within a few hours. Withdrawals are usually completed within 1-3 business days, depending on the method used.
What Is Spreadex’s Trust and Reputation?
Spreadex has built a strong reputation since its inception in 2000, largely due to its regulatory compliance and customer-centric approach. The FCA regulation ensures that Spreadex adheres to strict financial standards, offering traders a high level of protection. The platform’s long-standing presence and positive customer reviews further solidify its credibility in the trading community. This is evident in its TrustPilot score of 4.5/5
How Does Spreadex Compare with Its Competitors?
Spreadex stands out in the trading industry through its dual offering of spread betting and CFD trading, both regulated by the FCA. Its fee structure is competitive, particularly for spread betting where there are no commissions, only spreads. In comparison, some competitors charge both spreads and commissions, making Spreadex more cost-effective. However, while Spreadex excels in user interface and asset variety, its mobile app performance is slightly behind leading competitors like IG and eToro. Spreadex’s strong safety measures and reputation provide additional reassurance, setting it apart from lesser-known platforms.
| Feature | Spreadex | IG | eToro | Saxo | AvaTrade |
|---|---|---|---|---|---|
| Focus | Spread betting & CFDs | CFDs & Forex | Social trading & CFDs | Advanced traders & CFDs | Forex & CFDs |
| Minimum Deposit | £50 | £250 | $10 | €10,000 (Classic) €1,000 (Select) | $100 |
| Commissions | Spread-based | Spread-based & commission-based | None for stock trading (copy trading fees apply) | Spread-based & commission-based | Spread-based & commission-based |
| Spreads | Competitive | Generally tight | Wide for stocks (tight for CFDs) | Tight | Variable |
| Platforms | Proprietary platform | Proprietary platform & MT4 | Proprietary platform | SaxoTraderGO (own platform) & MT4/MT5 | MetaTrader 4 & 5 |
| Investment Products | Stocks, indices, forex, commodities | Stocks, indices, forex, commodities, options | Stocks, ETFs, CFDs (limited) | Wide range of stocks, ETFs, CFDs, options, futures | Stocks, indices, forex, commodities, crypto |
| Regulation | FCA | FCA | CySEC, FCA (depending on entity) | FCA, various others | Various (depending on entity) |
| Education & Research | Good | Excellent | Basic | Extensive | Good |
| Mobile App | Yes | Yes | Yes | Yes | Yes |
| Copy Trading | No | No | Yes | No | Limited |
What are the Pros and Cons of Spreadex
- Regulation and Safety: FCA-regulated, ensuring high security standards.
- Competitive Fees: Low spreads and no commissions on spread betting.
- Diverse Asset Range: Access to multiple markets, including stocks, forex, and cryptocurrencies.
- User-Friendly Interface: Intuitive design that is easy to navigate.
- No Capital Gains Tax: Profits from spread betting are not subject to capital gains tax.
- Long and Short Trading: Flexibility to go long or short on trades.
- Extensive Market Access: Trade in thousands of markets worldwide.
- Leverage Trading: Ability to trade with leverage for higher potential returns.
- No Minimum Deposits: Start trading without any minimum deposit requirements.
- Hedge Positions: Use spread betting to hedge other investments.
- Leveraged: Spreadex does not provide Individual Savings Accounts (ISAs) or non-leveraged accounts. It is tailored for active trading rather than long-term investing.
- Limited Educational Resources: Compared to some competitors, Spreadex offers fewer educational materials.
- Inactivity Fees: Charges apply after a period of account inactivity.
- Overnight Financing Fees: Applicable for holding CFD positions overnight, which can add up.
list highlights the key advantages and disadvantages of using Spreadex, making it easier for readers to evaluate the platform’s suitability for their trading needs.
What is our Verdict on Spreadex
In summary, Spreadex is a robust trading platform well-suited for both beginners and seasoned traders. Its dual offering of spread betting and CFD trading, regulated by the FCA, ensures a secure trading environment. The platform’s user-friendly interface, diverse asset range, and competitive fee structure make it an attractive choice. According to user feedback, 85% of traders report a positive experience with Spreadex.
However, there are areas for improvement, particularly in mobile app performance and educational resources. The pros of Spreadex, such as its regulatory safety, low fees, and wide market access, significantly outweigh the cons.
Overall, Spreadex provides a reliable and versatile trading experience, making it a commendable option for those looking to engage in spread betting and CFD trading. Spreadex earns its 4.6 star rating.
Ready to start trading with a reliable and versatile platform?
Join Spreadex today to take advantage of competitive fees, a user-friendly interface, and a wide range of trading instruments. Sign up now and explore the benefits of spread betting and CFD trading with one of the industry’s trusted leaders.
72.3% of retail investors lose money when trading spread bets and CFDs with this provider.
Open an account with Spreadex and deposit £500 to get a 6 month gift subscription to the Financial Times.
2024 Review Methodology
This review is based on a comprehensive analysis of Spreadex’s platform features, regulatory compliance, fee structure, user experience, and customer feedback. Data was gathered from multiple sources, including official regulatory filings, user reviews, and industry reports. The evaluation criteria focused on safety, usability, market access, and cost-effectiveness. By applying a balanced and data-driven approach, this review aims to provide an accurate and unbiased assessment of Spreadex’s offerings.
FAQs
CFDs (Contracts for Difference) involve trading the price difference of assets without ownership, allowing leverage and short positions. Spread betting also avoids ownership, with profits tax-free in the UK, and involves betting on asset price movements, but both incur risk of significant losses.
Spreadex offers competitive fees, diverse asset access, and a user-friendly interface, making it ideal for traders seeking flexibility and cost-efficiency.
Spreadex is regulated by the Financial Conduct Authority (FCA) in the UK, ensuring adherence to stringent financial standards.
The minimum stake size at Spreadex varies by asset, with some starting as low as £1, making it accessible for small-scale traders.
Withdrawals from Spreadex typically take 1-3 business days, depending on the chosen withdrawal method and banking processes.
References -
At The Investors Centre, our writers/contributors are required to underpin their work with primary sources. These sources range from government records and white papers to direct reporting and expert interviews in the field. Where suitable, we also integrate research from other distinguished publishing sources. This approach ensures our content remains both accurate and unbiased, as detailed in how we test.
- Spreadex Official Website: Spreadex
- Financial Conduct Authority (FCA) Regulatory Filings: FCA Register
- User Reviews and Feedback: Collected from various financial forums and review sites like Trustpilot
- Industry Reports: Data and insights from industry publications such as Finance Magnates and Investopedia
- Market Analysis: Detailed market analysis from leading financial news sources like Reuters and Bloomberg
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