- What Is Spreadex?
- Why Join Spreadex?
- Is Spreadex Regulated?
- Pros and Cons
- Account Opening Process
- Types of Spreadex Accounts
- Spreadex Trading Platform
- Spreadex Markets
- Spreadex Leverage
- Deposit & Withdrawal Options
- Resources in Spreadex
- Mobile Apps
- Security Measures
- Customer Support
In an industry like betting and trading, which is picking up fast, traders have enough options to choose and trade. There are many options for forex trading and cryptocurrencies trading. However, before you engage with any trading platform, it is vital to check reviews on what experts and traders have to say about it. The below Spreadex review gives an in-depth analysis of different aspects. Reading this Spreadex review will be helpful while trying hands-on betting, and also do not have to lose money when trading.
|Headquarters||St Albans, Hertfordshire|
|Product offered||Indices, Shares, Forex, Commodities|
|Minimum Initial Deposit||$0|
|MetaTrader 4 (MT4)||No|
|MetaTrader 5 (MT5)||No|
|Withdrawal fee||Depends on the Payment Methods|
|Supported currencies||USD, EUR, GBP, CAD, AUD, and More|
|Customer Support||Email, Phone, Live Chat, and FAQs|
The Spreadex reviews cover different areas of the platform. There are chances that you may lose money when trading or face any of the risks which may affect your trading. So checking out a Spreadex review written by experts is important. Since Spreadex is a CFD platform, you should know that CFDs are complex instruments, and trading on it wrongly will make you lose money. This Spreadex review will analyze how this spread betting or trading platform is worth it or legit enough to spread bets. Furthermore, it will also cover customer support, financial conduct authority, CFDs with this provider, deposits, and withdrawal, types of Spreadex accounts, etc.
What Is Spreadex?
Spreadex was established in 1999 as a global CFD and FX broker. The top-tier UK Financial Conduct Authority oversees it (FCA). The firm also offers a separate sports betting service covered further in the Spreadex review. Since it has a long track record and is regulated by a top-tier financial body, Spreadex is deemed safe. It is one of the few brokers that provides a unique Spreadex offer, i.e., CFDs on cryptocurrencies. Experienced traders who want to trade have good options in Spreadex.
However, to trade or perform spread betting, it is vital to read Spreadex’s review and also to know that CFDs are complex instruments that carry a significant risk of losing money quickly owing to their leverage. When trading CFDs Spreadex, 63 percent of retail investor accounts lose money. You should consider whether you understand how CFDs operate and whether the user can afford to risk losing all money in this Spreadex trading platform.
Spreadex first introduced online sports betting service in 2006, followed by a financial online trading platform. In general, Spreadex exhibits good growth and aims to provide high-quality service, positioning itself as one of the largest spread betting firm brokers in the United Kingdom. It has its office in London and follows the country’s financial conduct authority laws for spread betting.
Over 60,000 account users choose Spreadex to offer trading with favorable conditions with access to over 10,000 worldwide markets, including indices, stocks, foreign exchange (including Bitcoin), commodities, bonds, Exchange Traded Funds, and interest rates. Furthermore, Spreadex has the industry’s most extensive range of AIM stocks, starting at a low 20 percent margin. Users performing bets on Spreadex don’t have to worry that he/she will lose money.
Spreadex offer demonstrates & its different enhancements and extra specifications through its ongoing development of trading offerings that keep pace with technological advancements and the need to access trading with the most recent improvements. Spreadex offer an updated virtual trading platform in 2012, adding sophisticated features such as one-click trading, standard/parallel view, and configurable trading windows. Later, Spreadex introduced its new financial fixed odds markets, dubbed “Speed Markets,” a few years later, enabling fixed risk trading on financial markets.
Why Join Spreadex?
Spreadex was featured in the FT1000 report among the 1000 fastest-growing firms in Europe in 2017 and was listed three times in the Sunday Times Profit Tracklist of the top 100 fastest-growing UK companies.
Spreadex has won several awards for its regulated trading, customers trust, and high-quality trading features. Some of the awards the firm won are:-
- Best Spread Betting Provider 2016.
- City of London Wealth Management Awards Best Spread Betting Provider 2016 Winner.
- Investment Trends Best Betting Firm award.
Furthermore, Spreadex offers excellent features and services, good customer support, and an easy trading process.
Features of Spreadex
According to the Spreadex reviews, it has multiple features under its arm, making it easy for betting and trading coins. Some of the features of Spreadex are:-
Bet on the Go
Spreadex trading platform’s iOS and Android tablet and smartphone apps allow users to bet on the move. If the user uses an iPhone, use Touch ID or Face ID to log in fast, reliably, and securely.
Client Money – Spread Betting
Any money Spreadex holds on users’ behalf in the spread betting ledger, including cash deposited, winnings, or the total value of any open sports betting – will be held in a well-formed Barclays and Lloyds bank account. This process followed by Spreadex is as per the financial conduct authority client money rules.
Client Money – Fixed Odds
Spreadex trading acts as a trustee for all funds stored on this authorized client money account. If the user is a retail client, the trading platform will never mix the money with its own or place it with a third party, such as a broker.
Whether on sports spread betting or sports fixed odds betting, in-play sports betting is one of Spreadex’s specialties.
This feature allows users to place or stop betting at any moment during a game or event, allowing you to collect gains or reduce losses early. Spreadex provides three Cash Out options: One-Click Cash Out, Auto Cash Out, and Partial Cash Out to make in-play betting more enjoyable.
Fixed Odds and Spreads
Spreadex is the only firm that allows users to wager on sports spreads and fixed odds from the same account. Spreadex offers hundreds of sports markets to select from, whether you like the thrill and adrenaline rush of spreads or the more secure nature of fixed odds. Other than these, there other features of Spreadex like:-
- One-Click Trading.
- Stop Loss.
- Trailing Stops.
- TakeProfit Orders.
- Advanced Financial Chart tool for comparison.
Services by Spreadex
Spreadex Sports Betting
Spreadex’s sportsbook offers industry-leading odds on a wide range of global sporting events, including football, Formula One, horse racing, and handball. In addition, there is live streaming, numerous cash-out choices, and a Bet-Builder feature.
As the leading trading platform, Spreadex offers easy financial trading. Investors have options to trade on worldwide shares, indices, foreign exchange, commodities, etc., using spread bets, CFDs, and options on the financial trading platform. Users can trade through charts, single-click dealing, Market Alerts, etc., with narrow spreads and cheap margins. Professional clients can trade on credit, but they will not be protected from negative balances.
Contracts for Difference or CFDs with this provider are as per the financial spread betting. It offers users access to trade at the global market level.
Is Spreadex Regulated?
To make the trading hassle-free and reliable, Spreadex follows regulations by the financial conduct authority. Suppose the user has a problem with Spreadex that has specific options under the law. Regulatory authorities protect traders through reimbursement programs that return the client’s investment if the broker goes bankrupt.
Financial Conduct Authority (FCA)
Reputable financial regulatory agencies oversee, manage, and supervise Spreadex. Regulatory agencies keep an eye on broker conduct and will take action if something goes wrong. Before trading with a broker like Spreadex, make sure they’re a genuine online broker and traders do not lose money.
Spreadex Reviews: Pros and Cons
|More than 60,000 users and traders.||Not listed on the stock exchange.|
|Regulated by Financial Conduct Authority (FCA).||Not CySEC Regulated.|
|Min Deposit from $1.|
|Negative balance protection is provided.|
Spreadex Account Opening Process
Since Spreadex is regulated by the Financial Conduct Authority (FCA), every new client must pass a few simple compliance tests to verify that they are aware of the risks associated with trading and eligible to trade. To open an account on Spreadex, below are the things the user needs to be handy:-
- Share a scanned color copy of the passport, driver’s license, or other government-issued identification.
- Three-month energy bill or bank statement that shows your current address.
- The user will also need to answer a few basic compliance questions to validate their trading experience, so it’s advisable to put aside at least 3 minutes or so to finish the account opening procedure.
- While the user may be able to explore Spreadex’s site immediately, the user will not execute any transactions until they have passed compliance, which might take several days.
The user must first complete and share the application form and then move to the next stage, which is financing, beginning live trading. The Spreadex allows international applications; however, some countries may be excluded due to legal and regulatory restrictions. The user can view trading history, statements, receiving fast bet confirmations, and setting appropriate trading preferences are all available from a single Spreadex account. There is no risk involved, and the user can open an account.
As a part of the sign-up process, the user will need to enter the name, email address, and resident country, select an account type and click ‘Create my account. The user’s account will go live right away and will be able to see a demo of the trading platform, but the user will need to fill out some extra information before trading:-
- Fill in the information like date of birth and contact details.
- Information about employment status and experience in trading finance and sports betting.
- Answer a few rather difficult questions assessing the financial and trading knowledge.
- Choose an account currency.
- Upload identity documents which can include Passport ID, and residency proof.
Types of Spreadex Accounts
The user may be eligible for a credit limit based on your specific circumstances. When filling out the application, the user may choose to apply for credit, which allows starting spread betting right away without depositing money into the account. The user may also run the account on a pay-as-you-go basis, financing it in advance with a credit/debit card, direct bank transfer, or check.
Spreadex allows users to open a Spread Betting and CFD Trading account. Spreadex offers a unique tool to enable users to bet on any games or casinos using a budget.
Spreadex Trading Platform
When choosing an exchange or trading platform, it is vital to check if the site is user-friendly and if there is any risk involved. The best is to review Spreadex well. Due to regulatory constraints, various businesses under Spreadex provide different trading products. The trading instruments available may vary depending on the Client’s country of residency. Spreadex allows users to trade an extensive range of tools.
As per the Spreadex review, it provides a user-friendly bespoke trading platform that is accessible via a web browser or even smartphone or iPad. With a decent search feature, clear reports, and assured stop orders, the user will find what the trader is looking for quickly. Unfortunately, the platform does not have a two-step login process and is only available in English.
Advanced drawing tools, comprehensive pricing history, strong indicators, a pattern detection function, and automatic Pro Trendlines are all included under the technical analysis. So, even if MetaTrader4 isn’t available, users can use Spreadex software instead. Some of the options include beginning tips or risk management tools, single-click trading, numerous order types with guaranteed stops, and spread-betting methods, as well as a comparison to CFDs.
- Spreadex offers market options to trade or do wagering on games. This makes trading handy.
- Speed Markets- The web platform allows users to place ultra-quick, fixed-risk transactions on the preferred financial asset.
- The broker platform’s Speed Markets service is only available to professional clients, and it is not available to retail clients.
Reasons to trade speed markets:-
Low Initial Stake
The minimum cost to place or start trading is 15, the lowest in the industry.
Trade During Low Volatility
During low volatility periods, speed markets are perfect to profit from tiny market changes.
Since Speed Market betting cannot be canceled out before they expire, traders’ profit or loss will be paid only after the bet has expired.
If the market price does not change, we will return half of your capital. At the moment of expiry, all bets settle to the midpoint of our pricing for the relevant market. Bets will be settled to the number of decimal places shown on the Speed Market deal ticket when the bet is placed.
However, it is vital to note that Speed Markets are a type of binary bet. Short-term profits and losses are possible with Speed Markets. These types of Markets have a low-risk profile, but you should be aware that you can still lose a lot of money as well as win a lot of money.
Spreadex is a UK brokerage firm, thus it is bound by the company’s rules and regulations. As a result, for major currency pairings, the maximum offering accessible to retail traders is 1:30, while for other products, it is lower. Financial spread betting comes with advantages compared to traditional trading methods. Some of the leverages Spreadex offers are:-
No Capital Gains Tax
Capital Gains Tax is not applied to profits made through financial spread betting. Earnings from spread betting do not go against the Capital Gains limit, but any losses cannot be offset against other profits.
Go Long and Short
Traders may benefit from both increasing and decreasing prices while using spread betting in finance. When trading stocks and shares the traditional way, traders rely on the value of shares rising over time to earn a return on investment.
No Stamp Duty
Stamp Duty is presently not applicable to any spread bets. Stamp Duty of 0.5 percent on the value of the shares will be paid to traditional investors buying shares via a stockbroker, a tax that does not apply to spread betting. Be mindful that each client’s tax treatment is determined by their unique circumstances. It’s possible that tax regulations will alter in the future.
Trading on Multiple Markets
On Spreadex, users like retail investors are allowed to trade on many markets using just one account, including indices, foreign exchange, commodities, stocks, etc.
In certain out-of-hours sessions, users can even bet on several markets. Out-of-hours trading is presently available on the UK100, Germany 30, and some US equities through Spreadex.
Spreadex Review: Fees
Spreadex broker platform does not charge fees for its services. It charges fees for only the withdrawal, the amount of which depends on the withdrawal payment options.
Deposits & Withdrawal Options
Spreadex’s minimum deposit is the amount of money needed to create a new online brokerage account with them.
Don’t put off because Spreadex broker requires a minimum deposit to start a trading account. Brokers with larger minimum deposits frequently provide additional premium services not available for free on other platforms. Brokers with smaller minimum deposits cater to a more mainstream clientele interested in some of the more complex services and research tools.
Brokers who do not demand a minimum deposit generally do so to attract new clients. Transaction commissions and other trading costs may be greater with a low minimum deposit account since they have to make a living.
As additional online trading platforms have joined the market, the minimum amount required to start a live trading account has decreased as more brokers compete for new customers.
Some best UK forex brokers ask for a minimum deposit of up to 6500 GBP/USD, depending on the type of trading account retail investors or any user can choose. Some brokers provide exchange rates of up to 10,000 GBP/USD.
Every broker using this website has its own set of withdrawal regulations that govern how a user may get money out of the trading account. Each brokerage company has multiple withdrawal options, and each payment provider may charge different transfer processing costs, have varying processing timeframes, and charge a currency conversion fee.
Withdrawals are generally cleared with a minimum of £50 and must be made to the same card used to deposit funds. Same-day CHAPS transactions are also available for a fee of 25£. The user has the option of credit cards, debit cards, bank transfers, and Payoneer to withdraw funds.
Spreadex Deposit fees
In most situations, Spreadex broker does not impose a deposit fee; however, it retains the right to charge £1 for debit card deposits under £50.
The user can use a bank transfer or credit/debit card to make a deposit. However, there is no electronic wallet support, which is a disadvantage to users compared to some of the forex brokers in the market.
Spreadex Inactive Fees
The registered brokerage client is charged an account inactivity fee. Clients will need to meet specific trading activity criteria by brokers as part of the account’s set regulations. If the client’s trading account is inactive for a length of time as determined by the broker, an inactivity fee may be charged.
Online trading accounts are not exempt from inactivity penalties. Many financial service providers may charge inactivity fees. Do a thorough check on the broker’s website to ensure the broker is aware of and satisfied with all of the services and costs paid to the user. It is best to close the trading account with the broker’s customer service if you no longer utilize it.
To compensate for the lack of commission revenues from your trading, certain brokerage firms usually impose inactivity fees to retain user’s accounts on their costly trading platforms. Click here to get more detail on its fee structure.
Resources in Spreadex
To trade in Spreadex, the user must first have a thorough grasp of the trading tools Spreadex offers along with markets. Make full use of all educational resources available on the platform. It covers both Spreadex and external education tools.
Spreadex broker has a wide range of instructional materials. Users should take time and become familiar with how the financial markets and the company operate. Users need to learn about buying and selling, learn how to take advantage of worldwide trading hours, and most importantly, understand how to minimize and manage risk in your investments. Using an analytical approach to trade using Spreadex may be a smart idea.
Spreadex Mobile App
Spreadex offers a user-friendly app for both Android and iOS users to make sports betting handy. Users will have plenty of betting alternatives to select from irrespective of the device and location, making the sports betting journey interesting and lucrative at any time and place. The Spreadex app will provide pre-match football stats to keep track of the games interested in.
As per the Spreadex review, the app will provide pre-match football stats to keep track of the games interested in. The analytics can assist in making decisions for users’ subsequent trading, allowing them to have a fantastic betting experience even when on the go. The user will also follow various sporting events by loading the app’s in-play match centers. There are special incentives or bonuses available for app users.
Spreadex broker also has a financial app for spread betting. The app is available for both Android and iOS users.
Spreadex Security Measures
As per the Spreadex reviews, it is regulated by the UK’s top-tier FCA, which ensures robust investor protection; yet, it lacks a banking license and does not disclose financial information. Spreadex protects retail consumers from negative balances. You will be protected if the amount on your account falls below zero. Traders’ deposits into Spreadex accounts are stored in a separate bank account.
Spreadex broker uses tier-1 institutions for enhanced security. The official gauge of a bank’s financial health and strength is its Tier 1 rating.
Spreadex Customer Support
As per Spreadex user reviews, the platform has earned a good reputation for its customer service. The customer reviews tell us that the support team is effective, kind, and responsive to solve customer service issues. They have a ticketing system that you may use to contact them directly. Within 24 hours, you should receive a response. Spreadex not only provides award-winning support but also educational resources, allowing you to start learning via knowledge of the most recent trading methods.
The FAQ section of the forex trading platform serves users with all the details about trade fees, withdrawal, deposits, features, sports betting, and other things, along with additional information. One can also connect with the team through the live chat service. Moreover, for any queries to solve, the user can send a mail, reverted within hours. When it comes to email support, they have the fastest email response. The fastest revert is in 15 minutes. Moreover, the live chat section is helpful. The brokers’ AI-enabled chat offers a quick response. Users can also know what tools or services Spreadex offer.
Spreadex Review: Conclusion
The Spreadex review covered all the major sections of the betting and trading platform. Spreadex features reasonable forex brokers costs, an excellent web trading platform, and a professional and quick customer support team to handle any difficulties or inquiries. Spreadex’s product offering is confined to FX and CFDs, excluding popular asset classes such as actual stocks and mutual funds. There is also no desktop platform, and the quality and quantity of research tools and educational resources are also lacking. Users should review Spreadex well before using it. In fact, users can also review Spreadex from registered members on forums. Combining all the above merits makes it one of the reputable forex brokers in the current market.
How Long Does Spreadex Withdrawal Take?
Users using Spreadex for withdrawal of funds will have to wait 2-5 days.
Do Spreadex Close Winning Accounts?
There is no policy in Spreadex brokers’ to close down the legitimate winning accounts.
Does Spreadex Have a Demo Account?
Yes, there is a demo account in Spreadex forex.
Does Spreadex Have the Best Odds Guaranteed?
Spreadex is the only firm that allows users to wager on sports spreads and fixed-odds using the same account. There are hundreds of sports betting markets to select from, whether the user likes the thrill and adrenaline rush of spreads or the more secure nature of fixed odds.
What Is the Minimum Deposit for Spreadex?
The minimum deposit to trade with Spreadex forex brokers is $0.