Spreadex vs FOREX.com - 2024 Comparison | FxScouts
EditorEditor: Chris CammackUpdated: November 15, 2023

Last Updated On November 15, 2023

Björn Michels

Trading with a reputable online broker is a crucial factor for success in the international markets. At FxScouts, we help you find the broker that suits your trading needs.

Each year we spend thousands of hours testing brokers by opening accounts, testing their platforms, and rating them according to a set of over 200 metrics. We deposit real money with the brokers to ensure that the products and user experience they advertise are consistent with reality.

We have found that the best way for traders to choose a broker is to compare brokers side-by-side. The comparison tool below allows you to compare two brokers based on their ratings and features.

Select brokers to compare

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Broker Score
Risk Statement
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Acct
Trading Platforms
Funding Methods
Trading Commission
11110.54.26/ 5 64% of retail CFD accounts lose moneyUSD 0FCA Regulated Forex BrokersMarket MakerBonds, Commodities, Cryptocurrencies, Stock CFDs, ETFs, Forex, Indices698
  • Tight spreads
  • Low minimum deposit
  • Wide range of assets
  • Limited demo account
  • No swap-free account option
Read Review 111104/ 5 111115/ 5 111104/ 5 111115/ 5 1110.503.5/ 5 111115/ 5 111003/ 5 64%30:10.60 pips Standard Spreadex, TradingViewApple Pay, Bank Transfer, Maestro, Mastercard, VisaFees Included in Spread
11110.54.62/ 5 Hello Chris 69% of retail CFD accounts lose moneyGBP 100FCA Regulated Forex BrokersMarket MakerCommodities, Stock CFDs, Forex, Indices, Metals910
  • Well regulated
  • Wide range of assets
  • Excellent education
  • High inactivity fees
  • Limited demo account
Read Review 111115/ 5 111115/ 5 11110.54.5/ 5 11110.54.5/ 5 111115/ 5 111104/ 5 111104/ 5 68%30:10.70 pips Commission, DMA Account, MT4, MT5, Raw Spread, Standard MT4, TradingView, FOREX.com Web TraderBank Transfer, Maestro, Mastercard, Paypal, VisaFees Included in Spread

How do FOREX.com and Spreadex stack up against each other?

The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.

FOREX.com

Spreadex

At FxScouts, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.

To compare FOREX.com and Spreadex, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.

Does FOREX.com or Spreadex have a better trust and regulation rating?

Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.

In our comparison, we found that FOREX.com holds one Tier 1 and no Tier 2 licences, and Spreadex holds one Tier 1 and no Tier 2 licences.

 

Is FOREX.com financially regulated?

Yes FOREX.com was founded in 2001 and is regulated by FCA.

 

Is Spreadex financially regulated?

Yes Spreadex was founded in 1999 and is regulated by FCA.

 

Based on these findings, FOREX.com earned a higher trust rating than Spreadex.

Does FOREX.com or Spreadex have lower costs?

Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged. 

Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that Spreadex has overall lower trading costs than FOREX.com. 

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
Spreadex
111115/ 5
USD, EUR, GBP
0.60 pips
USD 6
0.60 pips
0.90 pips
0.70 pips
USD 0
FOREX.com
111115/ 5
USD, EUR, CAD, JPY, CHF, AUD, GBP
0.70 pips
USD 7
0.70 pips
1.10 pips
1.40 pips
USD 0

 

Does FOREX.com or Spreadex offer a better choice of trading platforms?

Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms. 

In this case, FOREX.com offers support for MT4, FOREX.com Web Trader and TradingView and Spreadex offers support for Spreadex and TradingView. 

Do the brokers offer copy trading?

In this case both FOREX.com and Spreadex offer copy trading.

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Broker
Platform Choice
Copy Trading
Platforms
Spreadex
111104/ 5
Spreadex
TradingView
FOREX.com
11110.54.5/ 5
TradingView
FOREX.com Web Trader

 

Which broker offers a better choice of trading instruments?

A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that FOREX.com offers a greater range and depth of instruments to trade than Spreadex. FOREX.com offers 91 Forex pairs to trade and Spreadex offers 69 Forex pairs to trade.

Toplist Forex Pairs

And what about Cryptocurrencies?

In this case, Spreadex offers 8 cryptocurrencies while FOREX.com offers 0 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with Spreadex.

Which broker offers better deposit and withdrawal processes?

Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals. 

We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that both FOREX.com and Spreadex charges a withdrawal fee. Overall, Spreadex has better deposit and withdrawal processes than FOREX.com. 

Which broker offers better educational support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

FOREX.com has better educational support than Spreadex. Both FOREX.com and Spreadex offer educational support for more experienced traders.

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Broker
Beginner Course
Advanced Course
Spreadex
FOREX.com

 

Which broker offers better market analysis materials?

To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field. 

We found that FOREX.com offers better research analysis than Spreadex and that both FOREX.com and Spreadex offer frequent webinars.

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Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
Spreadex
FOREX.com

 

Our overall Verdict on FOREX.com

Founded in 2001, FOREX.com is an FCA-regulated broker with a 100 GBP minimum deposit suitable for serious beginners and more experienced traders. The Standard and MT4 accounts have slightly higher costs than entry-level accounts at other popular UK brokers, with spreads usually averaging about 1 pip on the EUR/USD. Experienced traders will like the DMA account with a minimum deposit of 25,000 GBP but raw spreads (0.0 pips on the EUR/USD) and some of the lowest commissions in the industry. 

FOREX.com provides support for MT4, TradingView, and its own trading platform. Experienced traders will appreciate the range of trading tools, including Trading Central, SMART Signals, and subsidised VPS hosting. Education and market analysis are both excellent, and traders will appreciate the wide range of tradable assets, including over 91 currency pairs, 5500 share CFDs, commodities, indices, precious metals, and cryptocurrencies.

Overall, while lower spreads can be found at other brokers, FOREX.com ticks all the boxes for those looking for a wide range of assets to trade and a choice of trading platforms.

Our overall Verdict on Spreadex

Founded in 1999, Spreadex is a large sports and spread betting broker with a CFD division that offers a low-cost trading environment on a wide range of tradable assets. It offers a proprietary web platform that integrates with TradingView. 

Spreadex offers one live commission-free CFD account with no minimum deposit requirement and spreads starting at 0.60 pips on the EUR/USD, which is significantly tighter than other similar brokers. Spreadex also stands out for the number of financial assets on offer, including over 3000 share CFDs, 200 ETFs, 69 Forex pairs, 31 commodities, indices, and a small range of cryptocurrencies (though under FCA regulations cryptos are only available for professional traders).

The only real drawback for traders considering Spreadex is that it offers no demo account. However, it has vastly improved the education and market analysis on offer, which will help traders make better trading decisions.

Overall, Spreadex will appeal to traders who value a low-cost trading environment and a vast range of tradable assets.

Which broker has the highest overall rating?

FOREX.com has an overall rating of 4.62 and Spreadex has an overall rating of 4.26. For more detail please read our reviews of FOREX.com and Spreadex.

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