Spreadex specializes in two financial activities: Spread Betting and CFD trading. Their services are available for over 10,000 global markets. Traders can Regardless of choice, both provides competitive margin rates.
Spreadex A Short Background and Its Security Checks
A company established in England, the franchise came into existence back in 2006. It then authored its own trading platform in 2007.
SpreadEx is governed by the Financial Conduct Authority (FCA), thus being expected to segregate client funds from operational funds through individual bank accounts.
Spreadex also holds membership with the Financial Times Europe’s Fastest Growing 1000 list, strongly suggesting that its established status.
The firm also received a number of accolades, including the “Best Spread Betting Firm” across three years alternately in 2020, 2018, and 2016. This has been awarded in the City of London Wealth Management Awards.
SpreadEx’s Myriad of Features, Offers and Fee Infrastructure
The financial instruments available through SpreadEx are extensive with the firm doing its best to cater to multiple markets and trader types. The instruments open to the firm’s traders are detailed below alongside the exact amount of each (as of 2021):
- Indices: over 30
- Shares: Coming from 15 nations
- Foreign Currencies: over 60 pairs
Over 200 in total:
- Exchange-Traded Funds
- Interest Rates
How to Register
Unlike several brokers, Spreadex only provides a singular live account to its traders wherein they can both lodge bets and execute CFDs trading. As of writing, there are over 1,000 tradable assets through Spread Betting with no minimum investment, no fees for joining, and the trader is not compelled to make a sell immediately.
Given that SpreadEx offers leverage for Spreads and CFDs, traders are able to trade stock indices through a margin with only 0.5 percent. Variable spreads and zero commission fees come with spread betting. Equities are available for Spreads, Swaps, and Commission fees when a trader transacts with CFDs.
The only thing that the review team had seen to be a letdown with account offers is that SpreadEx does not offer a Demo Account. This had denied traders to try out simulations prior to actually invest real funds. This is deemed important for traders who are just beginning their career. As this is the case, not being given the chance to do simulated trades might prove somewhat limiting for the novice’s experience.
Opening an account with SpreadEx entails a visit to the company’s website. The client needs to provide all his or her pertinent personal information, After this provision, the user would be brought to the live account.
To administer trading, the a registration consisting of 5 steps and a signup process would be done which includes the provision of verification information and documentation.
Methods for Saving Money Within the Trader’s Account
SpreadEx allows for multiple payment methods through different payment gateways. These methods include the following:
- Payment through debit and credit cards
- Online bank transfers
- Wire transfers
No charges are placed when the trader opts to perform bank transfer or UK debit cards. However, it must be noted that deposits done through credit cards are implement with a 2% charge. Purchases through non-sterling cards are asked of a 2.5 percent fee.
eWallets are simply not accepted as payment sources. Fifty Dollars are expected of a minimum payment transaction regardless of the payment method the trader had chosen.
Spreadex Trading Platforms & Tools
SpeadEx’s own platform is available across different devices namely for Apple and Android and even in different browsers.
The platform created by Spreadex’s developers may be customized and has notable tools for charting like Pattern Recognition and Pro Trend lines, alongside other helpful tools with each updates about it sent through SMS, email, or push notifications.
Pulse, the broker’s notification system gets its users up-to-date with the broker’s activities. It is seen by the review team as a largely helpful feature. On top of this, SpreadEx includes in its artillery a selection of educational tools which includes tips, interviews, OddsChecker, Market forecasts, guides on charts, examples of trade transactions, and economic calendars, alongside others.
The Bottom Line
Spreadex boasts of a myriad of advantages and disadvantages. On top of these, the firm offers a broad range of trading assets, functions within a cutting-edge trading software that it had developed for itself, bereft of required minimum deposits, and provides sophisticated charts and other trading implements.
Meanwhile, SpreadEx does not offer MetaTrader, a Demo account, or real-time . Furthermore, only a few payment types are made available accept clients from the United States.