Spreadex Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $2
- Spreadex
- FCA
- 1999
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $2
- Spreadex
- FCA
- 1999
Our Evaluation of Spreadex
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Spreadex is a broker with higher-than-average risk and the TU Overall Score of 4.45 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Spreadex clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
Spreadex is a CFD and Forex broker that specializes in mobile trading. The broker targets Asia and the British Isles.
Brief Look at Spreadex
Spreadex is a CFD and Forex broker that has been operating since 1999. The platform offers clients access to six classes of trading instruments. Here you can trade currency pairs (Forex) and contracts for difference (CFDs) on stocks, bonds, indices, commodities, and ETFs. Spreadex is headquartered in the UK and is regulated by the UK Financial Conduct Authority (FCA, 190941). Betting on sports is a secondary activity of the company.
- Tight spreads (from 0.6 pips for EUR/USD).
- Withdrawal fee - 0%.
- 3,500+ trading instruments.
- Free broker analytics.
- Minimum deposit from USD 2.
- There are no investment instruments.
- Support is not 24/7.
TU Expert Advice
Financial expert and analyst at Traders Union
The Spreadex Broker has been operating since 1999. The company was established as a sports spread-betting broker. Predicting the price of an asset and trading on the prediction that does not involve the actual ownership of assets. Besides Forex and CFD trading, the company is heavily involved in sports betting.
The broker offers clients one type of trading account, so the trading conditions are the same for everyone. The minimum spread on the platform is only 0.6 pips for EUR/USD, which can be considered an attractive commission. Fixed commissions per lot or per trade are not provided here. It is also worth noting the low level of the minimum deposit, which is from USD 2. Also, a USD 1 commission is paid by traders for replenishing an account with less than USD 50.
Spreadex is not suitable for clients who want to invest and receive passive income, since there are no investment tools on the platform. However, traders will feel comfortable working with this broker. The platform offers 3,500+ trading instruments, of which 3,000+ are CFDs on stocks. In addition, there are useful chart and candlestick analysis services, which make technical analysis much faster.
Spreadex Summary
| 💻 Trading platform: | Spreadex (desktop, Android, iOS, Webtrader) |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | USD, EUR, GBP |
| 💵 Replenishment / Withdrawal: | Credit cards, bank transfers |
| 🚀 Minimum deposit: | From USD 2 |
| ⚖️ Leverage: | up to1:30 (Forex) |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 Spread: | From 0.6 pips |
| 🔧 Instruments: | Currency pairs (60), CFDs on stocks (3000), indices (30), commodities (27), bonds (6), ETFs (200) |
| 💹 Margin Call / Stop Out: | 100%/50% |
| 🏛 Liquidity provider: | More than 20 large banks |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Instant execution, Market execution |
| ⭐ Trading features: | No inactivity fee on the account |
| 🎁 Contests and bonuses: | No |
Spreadex offers clients six classes of trading instruments. Leverage depends on the chosen trading instruments. The maximum size is applied up to 1:30. There is no demo account, and there is no swap-free account either.
Spreadex Key Parameters Evaluation
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Trading Account Opening
To start trading on Spreadex, you need to become a client of the broker by opening a trading account. A quick guide looks like this:
On the main page of the Spreadex broker, click on the “Create an Account” button. After that, a basic registration form will open.
Fill out the basic registration form with your name, nationality, country of residence, email address, username, and password, and choose the type of trading, such as spread betting, CFD trading, or both.
Next, you will get access to your account, but in order to trade, you need to fill out a detailed form and go through verification. In the detailed form, you need to indicate your address, financial situation, trading experience, and answer questions related to trading. If you answer three or more questions incorrectly, you can only re-take the survey after 24 hours. After that, you need to go through verification, for this, you need to upload a scanned copy of your identity card to the platform.
In the personal account, the trader also has access to:
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Economic calendar with information about upcoming economic events in the world.
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Broker analytics - economic reports for the past day and the week.
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Financial Blog – Here, the Spreadex experts conduct market analysis and provide trading insights.
Regulation and safety
The broker has a representative office located in the UK. The official name of the management company is Spreadex Limited.
The broker carries out its activities transparently. Spreadex is licensed by the UK's Financial Conduct Authority (FCA). The Financial Activity Authorization Number is FCA No. 190941. The company has negative balance protection. Funds are held in segregated accounts.
Advantages
- Client funds are segregated from Spreadex capital and held in segregated bank accounts
- Negative balance protection always active
- In case of violation by the broker of the obligations prescribed in the offer, the client can file a complaint with the regulator
Disadvantages
- Financial transactions are possible only after verification
Commissions and fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | From $6 | No |
There are swaps (commission for transferring a position to the next day). The analysts at the Union also compared the size of the average trading commission of Spreadex, Admiral Markets and FXPro. The comparative results are presented in the form of the below table:
| Broker | Average commission | Level |
|---|---|---|
|
$6 | |
|
$1 | |
|
$8.5 |
Account types
The Spreadex broker offers traders one type of trading account, so all clients of the company work under the same conditions. The minimum deposit to open an account on the platform is USD 2 or the equivalent in another currency. Spreadex offers clients margin trading. The leverage varies depending on the trading instruments you choose:
There is no demo account on the platform.
Spreadex is a broker that offers clients favorable trading conditions, a minimum entry threshold, and a large number of instruments to trade.
Deposit and Withdrawal
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Spreadex processes a withdrawal request within 2-5 business days.
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Money can be withdrawn to Visa and Mastercard (debit and credit) and by bank transfer.
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It takes up to 2 additional business days to process a withdrawal request by bank transfer.
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Spreadex does not charge withdrawal fees.
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A USD 1 commission is charged for replenishment of the account with less than USD 50.
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Deposits and withdrawals of funds are available only after passing the verification.
Investment Options
The Spreadex broker specializes exclusively in trading services. The platform does not provide any investment programs or ways to generate passive income. The only way to generate additional income is through an affiliate program from Spreadex, but only webmasters can use it.
If you are a large investor and plan on investments over $ 10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Spreadex’s affiliate program:
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Standard affiliate program. Available only to webmasters who promote services through websites, blogs, social networks, instant messengers, etc.
An affiliate is a client who has followed the affiliate link, registered, and made a deposit on the platform. The company charges up to 20% of the deposit amount as affiliate payments. To become a member of the affiliate program, you must submit an appropriate application. The platform provides banner ads, videos, and other necessary tools for webmasters.
Customer support
Support operators are available 7 days a week. Business hours are from 8:00 am to 5:30 pm London time.
Advantages
- In the online chat, you can ask a question without being a client of the company
- Works 7 days a week
Disadvantages
- No 24/7 support
- Support is provided in English only
This broker provides the following communication channels:
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by phone; the number is listed in the Contact section;
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by email;
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by online chat - on the website and in the personal account;
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by feedback form.
Not only a registered client but also a trader without an active account may ask the broker's representative a question.
Contacts
| Foundation date | 1999 |
|---|---|
| Registration address | Churchill House, Upper, Marlborough Road, St Albans, Hertfordshire, AL1 3UU |
| Regulation | FCA |
| Official site | https://www.spreadex.com/ |
| Contacts |
08000 526 570
|
Education
There is a separate tutorial section on the Spreadex website, but the information there is not comprehensive and is mainly presented in the form of articles only.
The broker does not have cent accounts or a demo account, so you will have to solidify any newly acquired knowledge by practicing on a real account.
Comparison of Spreadex with other Brokers
| Spreadex | RoboForex | Pocket Option | Exness | Deriv | InstaForex | |
| Trading platform |
Spreadex | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Pocket Option, MT5, MT4 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | Deriv bot, Deriv MT5, Derivix, Deriv Trader, SmartTrader | MT4, MultiTerminal, MobileTrading, MT5, WebTrader |
| Min deposit | $2 | $10 | $5 | $10 | $5 | $1 |
| Leverage |
From 1:1 to 1:30 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:1 to 1:1000 |
| Trust management | No | No | No | No | No | Yes |
| Accrual of % on the balance | No | No | No | No | 1.00% | No |
| Spread | From 0.6 points | From 0 points | From 1.2 point | From 1 point | From 0 points | From 0 points |
| Level of margin call / stop out |
100% / 50% | 60% / 40% | 30% / 50% | No / 60% | 100% / 50% | 30% / 10% |
| Execution of orders | Instant Execution, Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Instant Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | Yes | No | No | No | Yes |
Detailed Review of Spreadex
The Spreadex broker specializes in spread betting. Spread betting is a wager or trade on the up or down movement of prices. However, the trader does not actually own the asset with which he works. The platform allows the client to choose the type of order execution such as instant execution or market execution. Traders can use the analytics of the company, which is provided for free. A single type of trading account is available for all clients.
Spreadex by the numbers:
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22 years of experience in the market.
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3,500+ trading instruments.
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0.6 is the minimum spread for EUR/USD.
Spreadex is a broker for active trading
The Spreadex broker trades independently. Thus, the company has two types of order execution, such as instant execution and market execution. Liquidity is ensured by cooperation with more than 20 major banks. The platform provides traders with access to six types of trading instruments, including the Forex market and Contracts for Difference (CFDs) on stocks, ETFs, bonds, indices, and commodities.
Spreadex offers its clients a proprietary trading terminal. Also, desktop, mobile, and Webtrader versions of the platform are available. Clients have the opportunity to connect to trading with one click. Any trading strategy can be used.
Useful services of Spreadex:
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Economic calendar. On the Spreadex website, traders can follow upcoming economic events. In the economic calendar, you can sort events by dates, assets, expected volatility, etc.
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Chart analysis service. Thanks to this application, clients can find patterns on charts, identify support and resistance lines, etc.
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Candlestick analysis service. An extension for candlestick analysis is available on the platform, which will help confirm a trend or find an approximate reversal point, find an entry point, and a take-profit point.
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Economic data. Spreadex regularly publishes key economic indicators of the world's leading economies, such as inflation, employment, information on the real estate sector, key interest rates, industrial production, etc.
Advantages:
There are six asset classes available for trading.
To ensure the safety of client funds, the company stores them in segregated accounts.
Tight spreads (from 0.6 pips).
A proprietary trading terminal with adaptability for browsers, desktop, and mobile devices.
The broker provides analytics and online tools to improve the quality of trading.
All analytical services of Spreadex are available to traders free of charge and without additional conditions.
User Satisfaction