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With thousands of registered users, Spreadex is one of the most popular brokers in the UK. The company’s reputation and popularity encouraged us to spend a considerable amount of time researching and testing its trading. The results were impressive, which is why we decided to prepare this Spreadex review.
While assessing this broker’s suitability and reliability, we considered numerous factors, including regulation, security, and user-friendliness. Our experts also evaluated this company’s product offerings, trading platforms, and fees and commissions. We’ve outlined everything we unearthed in this inclusive review. Use it to determine if Spreadex is ideal for you.
In This Guide
Our Opinion about Spreadex
FCA-regulated Spreadex ranks with the best trading platforms in the UK. Our team of experts researched and evaluated this broker for many hours. We found many admirable traits and a few downsides that you should know of. We’ve summarised them in the pros and cons sections below.
Spreadex
✔10,000+ financial instruments
✔Zero account inactivity fees
Pros & Cons
Pros
- Authorised and supervised by the FCA
- Elegant, user-friendly user interface
- Over 10,000 financial instruments
- No minimum deposit requirement
- Zero account inactivity fees
- Cost-free deposits and withdrawals
Cons
- Limited third-party trading platforms
- Focuses primarily on spread betting and CFD trading
- No demo account
Security & Regulations
Spreadex is authorised and regulated by the FCA. Consequently, it adheres to stringent FCA mandates for protecting client funds. For starters, this broker keeps money belonging to retail traders separate from its proprietary financial assets. This company will never use your funds to cover operational costs or pay creditors.
Moreover, Spreadex uses SSL to protect your data from malicious actors. That is indispensable in an era when over 69,000 identity theft cases are reported in the UK alone. Furthermore, the trading platform allows users to optimise security by implementing measures like PIN login and touch ID.
Platforms
The Spreadex broker website is elegant and professionally designed. Beginners and seasoned experts can find anything they need quickly, from news and analysis reports to educational guides for learning how to trade. We faced no significant challenges while navigating and evaluating this broker’s official site.
We discovered the following trading platforms offered by Spreadex:
- Online platform: Spreadex has a robust online trading platform you can access from your browser from your Android gadget, PC, iPhone, or iPad. It allows users to use one account to trade CFDs and spread bets. This platform has a fully customisable screen, superb charting tools, and advanced orders. It also allows users to receive updated price alerts via email, push, and text.
- Mobile trading: This platform is ideal for trading on the go from your iPhone, IPAD, or Android gadget. Like the web-based platform, the Spreadex mobile app has advanced orders and charting tools. With it, you can enhance the safety of your assets by setting a unique PIN and activating touch ID.
- Charting package: Spreadex has a phenomenal charting package. It allows you to trade via charts and use top-notch technical indicators to make informed decisions. It’s also equipped with automated pattern recognition and Pro Trend lines. Furthermore, using the provided charting package, you can leverage sophisticated drawing tools and customisable templates.
- TradingView: This is the only third-party trading platform hosted on Spreadex. It has powerful charting and analytical tools for supercharging your trading extravaganza. The platform also offers robust risk management tools for minimising financial losses and maximising returns.
Fees & Commissions for UK Traders
We analyzed Spreadex’s fees and commissions since these elements can impact a trader’s profitability. The first impressive aspect that caught our attention is this broker’s £0 minimum deposit requirement. You can deposit any amount into your Spreadex account and start trading almost instantly. Furthermore, the broker charges zero account maintenance and inactivity fees.
What’s more, Spreadex has tight spreads and commissions. While trading with this broker, you can enjoy low spreads starting from 0.9 pips for GBP/USD, 0.001 pips for USD/INR, and 0.6 pips for EUR/USD. However, note that this broker charges overnight financing fees for positions held overnight.
Product Offerings
Spreadex offers thousands of financial instruments to traders, ranging from 60+ FX pairs to over 10,000 CFDs. It also allows users to bet on spreads UK and earn returns. Here’s a breakdown of the assets we discovered while reviewing Spreadex:
- Forex: Spreadex supports 24/5 trading on select forex markets. You can trade different pairs on this platform, from GBP/CAD and GBP/AUD to EUR/NZD and USD/CAD. You can also trade CFDs on many of the available forex markets.
- Indices: With a Spreadex account, you can speculate on the prices of major stock indices, including UK 100, UK MID 250, and Hong Kong 50. You can also trade CFDs on the available stock indices.
- Shares: This broker allows you to trade CFDs on popular stocks and bet on spreads on supported shares. All you have to do is use the incorporated search function to look for your preferred stock and any related information, including minimum stakes and spread widths.
- Commodities: After signing up with Spreadex, you can trade CFDs on different commodities, including gold, cotton, and crude oil. You can also venture into commodity spread betting.
- ETFs: Over 200 ETFs are available on Spreadex, including the Valkyrie Bitcoin Fund and the Invesco Galaxy Bitcoin ETF. You can use this platform for ETF CFD trading and spread betting.
- Options: Spreadex supports options trading and spread betting. The platform offers numerous options, including UK 100, SPX 500, and US Tech 100.
- Cryptocurrencies: As a Spreadex account holder, you can bet on the spreads of popular digital assets like Bitcoin, Ethereum, and Dogecoin. These have reasonable spreads starting from 0.1 pips.
- Bonds and interest rates: Spreadex allows investors to speculate on the prices of bonds and interest rates. You can also bet on the spread of these instruments while interacting with this platform. The available products range from UK Long Gilt and German Schatz to French OAT and Japanese Government Bond.
Spreadex Support Service
Our team discovered that Spreadex has an extensive FAQ section. You can access it through the broker’s Help and Support page. In it, Spreadex’s experts have addressed countless questions and concerns regarding crucial topics like opening and funding a new account. If you need to know anything, search for a fitting answer here before contacting support.
If reaching out to the Spreadex support team is necessary, there are various channels you can use. You can call, email, or chat with this company’s representatives. We tried all of these options and received quick responses. You can contact the Spreadex customer support team any day within the stipulated service hours.
How to Sign up For an Account at Spreadex
Due to KYC requirements, registering an account with a regulated broker like Spreadex might sound challenging. But don’t worry; the process is simple. We only spent a few minutes signing up and verifying our account. To avoid unnecessary complications and delays, ensure you submit factual information and clear copies of the required documents.
To open a Spreadex account, do the following:
Step 1: Visit the broker’s official website
Step 2: Create your account
Step 3: Verify your identity and location
Step 4: Fund your account
Step 5: Trade
Visit the official Spreadex UK trading website. Once you’re there, explore and evaluate crucial aspects like fees and markets. If you are a beginner, click “LEARN TO TRADE” and educate yourself. If you want to trade from a mobile gadget, navigate to the bottom of the page and download the app.
Click “CREATE AN ACCOUNT” to register. Fill out the application forms with all required details, including your full name, email address, and preferred username. While setting your password, use a combination of letters, unique characters, and numbers to optimise security. Most importantly, review the broker’s terms and conditions.
Complete KYC by providing the necessary documents. That may include a photo of your national ID and bank statements. Spreadex uses such documents to verify the identity and location of new signees.
Spreadex supports diverse payment methods, including credit and debit cards. After your account has been approved, you can use the available options to deposit funds into your trading account. Since this broker doesn’t have a minimum deposit, you’re free to fund your account with any amount within your budget.
The Spreadex has thousands of instruments you can trade today. Pick one instrument and start trading once there’s money in your trading account. Use the tools provided here, including stop loss orders, to mitigate risk exposure and protect your capital.
Conclusion
Spreadex is a splendid online trading platform available in the UK. It boasts numerous desirable qualities, including a proper regulatory status and top-notch security. But don’t take our word for it. Research this broker and read its customer testimonials before signing up.
Also, if you are a beginner, research the risks of online trading and budget wisely before putting your money on the line.
InvestingGuide Rating:
✔10,000+ financial instruments
✔Zero account inactivity fees
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Risk Warning
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.
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5
Customer Support
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4
Commissions & Fees
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4
Platforms & Tools
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5
Educational Resources