Spreadex Review

Regulation - 10/10

Is Spreadex Legit?

Yes, Spreadex is legit because they are regulated by the Financial Conduct Authority FCA) here in the UK, with Firm Reference Number 190941.

Spreadex is also a member of the Financial Services Compensation Scheme (FSCS) so UK traders get investor protection up to 85,000 GBP if Spreadex should become insolvent.

Funding & Withdrawal - 7/10

Spreadex Minimum Deposit

Spreadex minimum deposit is 1 GBP for both CFD trading and spreadbetting. The accepted deposit methods are limited to just Debit/Credit Cards and Bank Transfer.

Spreadex Minimum Withdrawal

There is no minimum withdrawal limit at Spreadex, so you can withdraw any amount you wish.

Spreadex Payout & Withdrawal Time

Spreadex withdrawals can take between 1 to 3 days to reflect in your account but for instant payment to be assured, you can request a guaranteed same day withdrawal which attracts a 25 GBP fee for withdrawals in GBP

If your withdrawal is in EUR, the guaranteed same day payment fee will be 45 EUR, and if it is in USD the fee will be 65 USD.

Account Types - 5/10

Spreadex offers only two account types which are CFD Trading Account & Sports Betting Account with 1 GBP starting deposit.

Sports Betting on Spreadex can be further divided into SPreadbetting and fixed odds.

Spreadex does not provide for a Demo Account so there is no way to test their services before you go live.

Account Management - 5/10

Account Currencies

Spreadex trading & betting accounts can be opened in GBP currency. You can also open the accounts in EUR & USD currencies.

Number of Trading Accounts Allowed

Every client can only open one trading account; so this means you can open one account for CFD trading and another for Spreadbetting.

Negative Balance Protection

Spreadex accounts cannot go into negative balance, because there is a mechanism, to ensure you can only lose the amount you deposited into the account, and nothing more.

Margin Call & Stop Out

Spreadex margin call comes when your largin level is 100% and stop out comes when your margin evel falls to 50%.

Range of Markets - 9/10

1. Forex CFDs & Spreadbet

Over 100 forex pairs are on the menu for trading through CFD or Spreadbetting.

2. Indices CFDs & Spreadbet

Spreadex has 30+ Indices (incusing nas100, de40, uk100) which you can trade as CFDs or Spreadbets.

3. Stock CFDs & Spreadbet

1,000+ CFDs & Spreadbets on Shares of global companies (US, UK, Asia Europe) as well as shares of small cap companies.

4. Commodity CFDs & Spreadbet

20+ CFDs & Spreadbets on instruments like Gold, Copper, Crude Oil, natural Gas, Cotton, Maize, Soybean etc.

5. Bond & Interest Rate CFDs & Spreadbet

You get exposure to CFDs & Spreadbet on UK/US Bonds as well as interest rate speculation.

6. ETF CFDs & Spreadbet

Over 200 ETFs are available for you to trade as CFDs or as Spreadbet.

7. Option CFDs & Spreadbet

You can trade CFDs & Spreadbets on Options such as NAS100. SPX500, US30, UK100 & DE40. Spreadex also allows for trading custom options which can be specially designed for you on request.

Spreadex Fees - 7/10

1. Spread

Spreads on forex start from 0.6 pips, spreads on indices start from 0.6 pips, spreads on commodities like gold start from 0.4 pips.

Spreadex is a zero commission broker so the major trading fee you will encounter is the spread on all transactions.

2. Overnight Fees

Spreadex charges overnight fees on CFD trades that are kept open till the next day.

3. Withdrawal Fees

Spreadex only charges withdrawal fees of 25 GBP, if you select the guaranteed same day payment option. Otherwise, there is no withdrawal fees if you accept that you may not receive your withdrawal on the same day.

4. Inactivity Fees

Spreadex does not charge inactivity fees on dormant accounts.

5. Guaranteed Stop Fees

Spreadex charges a fee of 0.25% of the current rice of the instrument when you use the guaranteed stop loss order.

Trading Platforms - 5/10

Spreadex does not have MetaTrader platforms on offer so you have to make do with the ones we will dicuss below.

1. TradingView

You can trade on the TradingView platform using your Spreadex account.

2. Spreadex Mobile App & Web Terminal

SPreadex also has their own mobile trading app you can download to your phone. They also provide a Spreadex web terminal which doesnt need downloading, you just launch it from their website.

Tools - 5/10

1. Economic Calendar

Spreadex cas an economic calendar (which they refer to as economic diary). It shows you all the dates when important economic news is going to be released.

2. News & Market Analysis

you also get lots of news and analysis of the market from Spreadex teams. You get weekly technical analysis, weekly trading update, weekly market update, etc.

Customer Support - 7/10

1. Live Chat

You can chat with a Spreadex support agent 24/7 and they respond under one second.

2. Telephone & Email

You can reach Spreadex through theor dedicated email address on their website or through dedicated UK telephone lines (which are not toll-free).

3. Education

Spreadex education is great, with a focus on learning how to spreadbet and learning how to use their trading platforms. However, there is no demo account.

Final Verdict - 8/10

A very versatile broker but their focus is more on spreadbetting than CFD trading. Spreadex is ideal for experienced traders who want to have the best of both spreadbetting and CFD trading without paying commissions.