Spreadex Broker Review

Is Spreadex Safe?

Yes, Spreadex is a safe broker for British traders to trade with. It has good regulatory oversight, segregates client funds, and provides traders with negative balance protection.

FCA Regulation: Regarding financial and sports spread betting, Spreadex Limited is authorised, regulated and registered by the Financial Conduct Authority (FCA), registration number 190941. 

Safety Features:

• Spreadex segregates its client funds from company funds 
• All traders are provided with negative balance protection
• Traders are also insured by the Investor Compensation Fund up to a maximum of 85,000 EUR per trader should the company be liquidated

On this basis, we consider Spreadex a safe broker for British clients to trade with. 

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Spreadex Trading Instruments

Spreadex’s range of financial instruments to trade is wider than most other brokers, with a large number of share CFDs that are hard to find at similar brokers. 

Alongside Forex pairs, Spreadex offers cryptocurrencies, equities, commodities, indices, ETFs, and metals. Due to FCA regulations, maximum leverage on all assets is relatively low, see below for details: 

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Spreadex generally offers a similar range of instruments as other brokers but also a wider range of equities, ETFs, and Forex pairs.

Forex: Spreadex offers over 60 currency pairs for trading, including majors, minors, and exotics, a much wider range of currency pairs than other similar brokers.

Share CFDs: Spreadex offers trading on over 3,000+ share CFDs, which is a similar number to other brokers. The selection available includes shares from over 15 countries, including the US, UK, Europe, and Australia.  

Commodities: Spreadex offers 19 commodities, whereas most brokers only offer trading on between 5 – 10 commodities.  These include Gold, Silver, Brent, Natural Gas and Light Crude Oil, and softs such as cocoa, coffee, corn, and sugar. 

Indices: Spreadex offers trading on 30+ indices, which is average compared to other similar brokers, and includes the likes of the NASDAQ, TSX, SPX, and the Dow Jones.

Cryptocurrencies: Traders can take a position on the price of cryptocurrencies including bitcoin, bitcoin cash, ether, ripple, litecoin, and ripple. However, under FCA regulation, crypto trading is only available for professional clients.

ETFs: Exchange Traded Funds have rapidly gained in popularity in recent years, and Spreadex offers trading on over 200 ETFs, a much broader range than is typically found at other brokers. 

Bonds and Interest Rates: Spreadex offers 8 bonds to trade, a broader range than other brokers.

Overall, traders will find an extensive asset selection, consisting of thousands of equity CFDs across fifteen countries, complemented by over 200 ETFs, which should satisfy most professional traders. 

Accounts and Trading Fees

Spreadex offers single CFD account for retail traders, which is in line with most other brokers. Compared to other brokers, Spreadex’s trading fees are lower than average.

Retail Account

A market maker, Spreadex’s retail account is commission-free and has spreads that start at 0.60 pips on the EUR/USD, which is lower than other similar market maker brokers.  There is a minimum required deposit of only 1 GBP to open an account, but trading is only offered on the Spreadex proprietary platform which integrates with TradingView. Traders can choose between a wide range of tradable assets, including over 60 Forex pairs, share CFDs, interest rates, bonds, ETFs, commodities, and cryptocurrencies, with a grand total of 9500 symbols. 

Spreadex allows hedging and scalping but does not offer copy-trading.  SpreadEx also allows clients to execute a minimum trading volume of 0.01 lots. Under FCA regulation, the maximum leverage is up to 30:1 on major currency pairs. UK-based traders may additionally use a tax-free spread betting account. 

Note that Spreadex does not offer Islamic swap-free accounts.

See below for Spreadex’s account details:

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Spreadex’s UK-based traders may open a tax-free spread betting account. Spreadex also offers a sports betting service (which will not be the focus of this review). 

Deposits and Withdrawals

Spreadex offers several different funding methods and deposits are usually cleared within two hours.

A well-regulated broker, Spreadex ensures that all anti-Money Laundering rules and regulations are followed, and as such, all withdrawals are returned to the deposit source. 

SpreadEx offers Open Banking to clients, and it also works with Payment Service Providers that are integrated with VISA Direct, which means traders using these cards can expect withdrawals to be processed in 2 hours.

Spreadex’s funding methods include bank transfers and debit cards or credit cards, but also Apple Pay, which is a great advantage for traders.

While Spreadex does not charge a fee for payments using UK cards, international bank transfers, and bank transfers in currencies other than GBP will be subject to additional currency conversion charges.

Direct withdrawal times range from two hours on Apple Pay to up to five days for Bank Transfers.

See below for more details:

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While a 1 GBP fee is charged for debit card deposits under £50, overall Spreadex has a good range of payment methods compared to other brokers.

Spreadex Mobile Trading Platforms

Spreadex offers the Spreadex Financial Trading App, that allows trading on the go. Traders with a pre-existing TradingView account can also use the TradingView app.

Spreadex Financial Trading App

Spreadex Financial Trading App is the proprietary mobile app from Spreadex, which can be downloaded and accessed on Android and iOS tablets and mobile phones, including a native iPad and iPhone app. 

The mobile app allows traders to open and close positions and has the same indicators and charts. Its quality has been praised often, including Best Mobile App by Investment Trends.

The app features:

• Advanced charting tools at your fingertips
• Fast and fair execution
• Advanced Orders, including going long and short 
• Price Alerts by text, email or push message
• SSL encryption and PIN login to keep your data secure

TradingView

If you use TradingView, you can connect your account to Spreadex. This allows you to make use of the TradingView mobile abilities, which include advanced charting, custom scripts and ideas shared by users, and also:

• 400+ built-in indicators and strategies
• 100,000+ public indicators
• 110+ smart drawing tools
• Volume Profile indicators
• Candlestick patterns recognition
• Multi-timeframe analysis
• Auto Chart Patterns

Other Trading Platforms

Spreadex offers its own web-based platform. However, if you also have a TradingView account, you can trade directly from the TradingView platform.

The Spreadex web trader is web-based and offers a streamlined trading experience, appealing to traders who want to avoid the complexity of third-party platforms.  The platform is intuitive and easy to use. 

Spreadex’s trading platform is a fully customisable, fast and reliable proprietary platform under constant development. Spreadex traders get access to spread bets and CFDs with advanced charting tools, award-winning execution, price alerts, and watch lists from a single account. It also offers a comprehensive suite of technical indicators and drawing tools, in addition to historical prices.  You can use the Spreadex app on your laptop or desktop, as it is web-based.

TradingView

Clients who already have a TradingView account can connect their Spreadex trading account to TradingView and trade directly from the TradingView platform. The TradingView platform is renowned for its charting capabilities and advanced analytics. The only downside is the cost involved for anything other than the basic version. Read more about the TradingView platform and the pricing options available. 

Overall, Spreadex’s platform is a good choice for beginner traders because of its simple and intuitive interface. If you have a TradingView account or would like to have one for your charting and trading needs, Spreadex is a great choice as it allows for integration. It’s easy to connect too:

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Broker

Platform Choice

Copy Trading

Platforms

Spreadex

4/ 5

No

Spreadex

TradingView

CMC Markets

4.5/ 5

No

MT4

CMCmarkets

IG

4.5/ 5

Yes

MT4

L2 Dealer

ProRealTime

Opening An Account at Spreadex

The account opening process at Spreadex is hassle-free and fully digital and accounts are ready for trading within 48 hours.

All British residents are eligible to open a trading account at Spreadex.

Creating an account is straightforward, the process is fully digital, and accounts are usually ready within 48 hours.

The majority of accounts are electronically verified and clients won’t need to complete these steps and can start trading straightaway. Some clients who can’t be electronically verified for whatever reason will need to provide further proof of ID.

How to open an account at Spreadex:

1. Click on “Create an Account.”
2. Spreadex’s intake form requires clients to fill in their personal details, including name, email address, and country of residence. They will also have to create a password and choose a username.
3. Clients will then be required to confirm their physical address. 
4. Thereafter, clients will have to detail their previous trading experience and financial status. The following steps won’t be needed for most traders as the majority of accounts are electronically verified. When that is not possible, this is how Spreadex verifies accounts:
   1. Spreadex requires individuals to submit a copy of their National ID or Passport with the signature page, as well as a copy of a recent utility bill or bank statement. Documents can be scanned or sent through as a high-quality digital camera picture.
   2. Your documents will be checked by the verifications department within 48 hours. Any deposits will be credited to the account only after your documents have been approved.
5. We advise you to read Spreadex’s risk disclosure, customer agreement, and T&Cs before you start trading.

Overall, Spreadex’s account opening process is fully digital and accounts are ready for opening within 48 hours.

Spreadex Research and Trading Tools

Spreadex does not offer any external tools, as all trading tools are built into the platform. 

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Broker

Autochartist

Trading Central

Trading View

Spreadex

No

No

Yes

CMC Markets

No

No

No

IG

Yes

No

No

Spreadex has two daily market research updates, as well as a weekly email finance preview. Also, you can read through their weekly technical analysis, which contains potential trade ideas.

The trading platform has a candlestick pattern recognition program, which may assist in identifying trading opportunities. 

In addition, if you deposit £500, you get access to a Financial Times subscription for free.

Spreadex Educational Material

Spreadex’s educational content is good compared to other similar brokers but is somewhat lacking in depth for more experienced traders. Unfortunately, educational webinars are not available.

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Broker

Beginner Course

Advanced Course

Spreadex

Yes

Yes

CMC Markets

Yes

Yes

IG

Yes

Yes

Spreadex has an Education Hub that beginners will find useful for learning how to trade Forex while minimising risks.

In addition, Spreadex also offers a range of written materials on technical analysis and chart patterns. Spreadex also has a range of practical tutorial videos covering various aspects of the trading platform and account management.

Customer Service

Spreadex’s customer service is above standards and has been recognised internationally. However, customer support is only available from 8 am-5:30 pm, whereas most other brokers over support 24 hours a day during the work week.

Customer support is available during business hours, seven days a week in English, via telephone, email, and live chat. The team received the award for Best Customer Service in the Investment Trends 2022 survey.

For the purposes of this review, we found the customer support responsive, polite, and helpful. Customer service is handled by the trading room so clients get an informed response. This includes phone service, where you get straight through to someone who understands your specific issue.

Safety and Industry Recognition

Founded in 1999 and headquartered in London, Spreadex has continuously expanded in the sports betting and spread betting sectors. Spreadex is authorised and regulated by the Financial Conduct Authority (FCA).  See below for details on the Spreadex registered company:

• Spreadex Limited is authorised, regulated, and registered by the Financial Conduct Authority (FCA), registration number 190941. The Financial Conduct Authority is based at 12 Endeavour Square, London E20 1JN.

The FCA is widely held to be one of the strictest and most careful regulators in the world. As a result, Spreadex can only offer a maximum leverage of up to 30:1 on Forex pairs and can only offer crypto CFDs to professional traders. Spreadex is also required to be a member of the Financial Services Compensation Scheme (FSCS), covering customer losses up to 85,000 GBP in the event of broker bankruptcy.

All British client funds are held in segregated accounts with top-tier banks and Spreadex is subject to frequent audits of its finances and client operations. In addition, all British clients have negative balance protection, meaning they can never lose more money than is held in their trading account.

Spreadex has won several awards for its platform and customer service over the years. 

• Investment Trends 2023 Winner of Best Mobile Platform/App and Best Platform Reliability.
• Best Spread Betting Firm of 2020, 2018 and 2016 at the City of London Wealth Management Awards
• Investment Trends Leveraged Trading Awards has awarded Spreadex with the Best Spread Betting Firm for Customer Service four times.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of how we review Spreadex’s product offering.

Central to that process is the evaluation of the broker’s reliability, the platform offering of the broker, and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

Risk Warning

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. Spreadex would like you to know that:  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.

Overview

Spreadex is a large, well-regulated CFD, forex, and sports betting brokerage offering multi-asset trading. It boasts decent trading conditions with low spreads, reasonable leverage, and a minimum deposit of 1 GBP, but accounts are only denominated in EUR, GBP, and USD.

It has improved its education and market analysis material to a good standard, which is always great for beginner traders. Its integration with TradingView is also good for traders who want access to TradingView’s advanced charting abilities. Spreadex’s proprietary platform is also available in browsers. Both platforms are also available as apps on most devices. 

Editorial Team

 

Chris Cammack
Head of Content

Chris joined the company in 2019 after ten years experience in research, editorial and design for political and financial publications. His background has given him a deep knowledge of international financial markets and the geopolitics that affects them. Chris has a keen eye for editing and a voracious appetite for financial and political current affairs. He ensures that our content across all sites meets the standards of quality and transparency that our readers expect.

 

Alison Heyerdahl
Senior Financial Writer

Alison joined the team as a writer in 2021. She is the Senior Editor for FXScouts.  She has a medical degree with a focus on physiotherapy and a bachelor’s in psychology. However, her interest in forex trading and her love for writing led her to switch careers. She has a passion for Forex trading and over a decade of editorial experience researching Forex and the financial services industry, producing high-quality content. She hosts a weekly podcast, “Let’s Talk Forex,” alongside her colleague, Chris, and has produced over 100 Forex educational videos for the FXScouts YouTube channel. She also writes weekly technical analyses and has tested and reviewed over 100 Forex brokers.

 

Ida Hermansen
Financial Writer

Ida joined our team as a financial writer in 2023. She has a degree in Digital Marketing and a background in content writing and SEO. In addition to her marketing and writing skills, Ida also has an interest in cryptocurrencies and blockchain networks. Her interest in crypto trading led to a wider fascination with Forex technical analysis and price movement. She continues to develop her skills and knowledge in Forex trading and keeps a close eye on which Forex brokers offer the best trading environments for new traders.