Spreadex Review

Author By Jeffrey Cammack
Updated: September 23, 2021
Overall Rating
3.67 3.67 / 5
Rated #53 of 68 Recommended Brokers
Min. Deposit
USD 10
Regulators
Trading Desk
Trading Cost
USD 6
Website Language
English
Support Language
English
AlertDoes NOT accept clients from SA. Average spread on the EUR/USD is 0.60 pips on trading account with the lowest minimum deposit of 10 USD. Max leverage 30:1. Islamic account not available. MT4/Trade Nation platforms supported. Spreadex is regulated by FCA .

TradeForexSA follows a strict editorial standard in our review process. We may receive compensation when you click on links to products we review. Please read our advertising disclosure.

Summary

A market maker, Spreadex is a well-regulated CFD and sports betting brokerage.  Offering trading in over 15,000 assets, including 63 FX pairs and vanilla options for experienced traders, Spreadex is one of the largest spread betting brokers in the UK.  Spreadex offers tight spreads, reasonable leverage, and requires no minimum deposit, but accounts are only denominated in GBP, USD, and EUR.  Furthermore, trading is only offered on its proprietary platform.

Another drawback for traders considering Spreadex is its lack of educational and market analysis materials.  Spreadex also does not have a demo account, making it a poor choice for beginner traders.

Reviews

Regulation
111104/ 5
Trading Conditions
111115/ 5
Trading Platforms
111104/ 5
Deposit & Withdrawal
100001/ 5
Education & Research
1110.503.5/ 5
Assets Available
1110.503.5/ 5
Customer Service
111003/ 5
Beginner Friendly
Standard
Bonuses
None

Account Information

Base Currencies
USD, EUR
Number of FX Pairs
63
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Min. Spread
0.60 pips
Commission
Fees Included in Spread
EUR/USD
0.6 pips
GBP/USD
0.9 pips
USD/JPY
1.0 pips
Max. Leverage
30:1

Company Details

Company Name
Spreadex Ltd
Founded
1999
Office Locations
United Kingdom

Pros

  • Well regulated
  • Low minimum deposit
  • 24/7 customer service
  • Excellent education

Cons

  • Limited demo account
  • No swap-free account option
  • Non-transparent spreads
  • Expensive withdrawals

Is Spreadex safe?

Founded in 1999 and headquartered in London, Spreadex is authorised and regulated by the Financial Conduct Authority (FCA).  Furthermore, every deposit is protected by the Financial Services Compensation Scheme in the UK in accordance with regulatory provisions. See below for details on the Spreadex registered company:

  • SpreadexLimited 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.

Spreadex offers negative balance protection, which means that you can lose more than you have deposited and will not be liable for any debt resulting from these positions.  Spreadex also holds client funds in segregated bank accounts.

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Group Regulators
Trading Desk
Website
Year Founded
Office Locations
Additional Fees
FCA
Market Maker
1999
United Kingdom
No

 

Trading Conditions

Spreadex offers trading on an extensive list of products and instruments, including forex, options, shares, interest rates, bonds, ETFs, commodities, and cryptocurrencies.  Offering commission-free trading on one live account, clients can speculate on over 60 currency pairs, including the EUR/USD from 0.6 pips and the GBP/USD from 0.9 pips. Furthermore, there are no minimum deposit requirements or joining fees, and leverage is up to 30:1 on major FX pairs.  Spreadex allows hedging and scalping but does not offer copy-trading.  SpreadEx also allows clients to execute a minimum trades of 0.01 lots and does not charge dormancy fees on inactive accounts.

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
111115/ 5
USD, EUR
0.60 pips
USD 6
0.6 pips
0.9 pips
1.0 pips
0.0
111003/ 5
AUD, EUR, USD
0.80 pips
USD 8
0 pips
0 pips
0 pips
0.0
111003/ 5
EUR, GBP, RUB, USD
0.70 pips
USD 7
5.0 pips
7.0 pips
8.0 pips
0.0

 

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

Spreadex Trading Conditions

Spreads and commissions

Spreadex offers tight spreads and charges no commission fees.  Spreads on the EUR/USD are at around 0.6 pips and 0.9 pips for the GBP/USD.  As with most brokers, fees are only charged if positions are held open overnight.

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Display Name
Min. Deposit
Max. Leverage
Min. Spread
Commission
Standard
USD 0
30:1
0.60
None
Account Details

Withdrawals and Deposits

As 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.  Withdrawals are only cleared with a minimum of 50 EUR, and CHAPS same-day transfers are available at a charge of 25 EUR.  Deposits are free, but Spreadex reserves the right to charge 1 EUR on debit card deposits under 50 EUR.

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 charges.

Direct withdrawal times range from two business days for bank transfers to up to five days for debit cards.

Payment methods include:

  • Credit cards
  • Bank Transfer
  • Skrill
  • Payoneer

Spreadex for Beginners

Spreadex does not offer much in the way of educational content.  It does, however, offer a selection of market analysis materials and helpful customer support to get new traders started. 

Educational Materials

Spreadex lacks educational content for beginner traders.  One will find a video training centre, but this material mainly delves into the specifics of how to set up a Spreadex trading account.  Spreadex also only offers a few written materials on chart analysis and chart patterns.  

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Broker
Beginner Course
Advanced Course
Well Structured Education
Education Quality
Webinars
Low
Low
None

 

Market Analysis Materials

While Spreadex offers a weekly trading update, a financial trading blog, an economic calendar, and a news section, it doesn’t make up for the lack of trading ideas, limited fundamental data, and a poor selection of analytic tools.

Spreadex Market Analysis

Customer Service

Customer support is available during business hours, seven days a week in English, via telephone, email and live chat.  For the purposes of this review, we found the customer support to be unresponsive.

Trading Platforms

Spreadex’s trading platform is a fully-customizable, fast and reliable proprietary platform under constant development to ensure it stays up-to-date with modern tools and advanced trading capabilities.  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.  Note that the Spreadex platform is not available for desktop use.

Spreadex does not offer demo accounts.  This is a real shame, as practice accounts are a fantastic way to get a feel for the broker and the platform.

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Broker
Platform Choice
Copy Trading
Platforms
111104/ 5
Spreadex
111104/ 5
Plus500
111104/ 5
IQ option

 

Mobile Apps

Spreadex has a well-designed and user-friendly mobile trading platform for trading on the move that users can download and access on Android and IOS tablets and mobile phones.

Spreadex Mobile Apps

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. 63% 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 no minimum deposit, but accounts are only denominated in EUR, GBP, and USD.

A major drawback for traders considering Spreadex is its lack of educational and market analysis materials, high withdrawal fees on some payment methods, and the fact that it has no demo account.  Furthermore, Spreadex only offers trading on its proprietary platform. 

AlertDoes NOT accept clients from SA. Average spread on the EUR/USD is 0.60 pips on trading account with the lowest minimum deposit of 10 USD. Max leverage 30:1. Islamic account not available. MT4/Trade Nation platforms supported. Spreadex is regulated by FCA .
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Overall Rating
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 Account
Trading Platforms
Funding Methods
Trading Commission
1110.503.67/ 5
USD 10
Market Maker
Indices
Forex
Commodities
Stock CFDs
63
0
  • Well regulated
  • Low minimum deposit
  • 24/7 customer service
  • Excellent education
  • Limited demo account
  • No swap-free account option
  • Non-transparent spreads
  • Expensive withdrawals
111104/ 5
111115/ 5
111104/ 5
100001/ 5
1110.503.5/ 5
1110.503.5/ 5
111003/ 5
63% of retail investor accounts lose money when trading CFDs with this provider
30:1
0.60 pips
Standard
Spreadex
Bank Transfer
Visa
Mastercard
Fees Included in Spread
11110.54.09/ 5
ZAR 1500
Market Maker
Commodities
Cryptocurrencies
Forex
Indices
Stock CFDs
ETFs
70
9
  • Well regulated
  • Wide range of assets
  • Limited education
  • Limited account options
111115/ 5
111003/ 5
111104/ 5
11110.54.5/ 5
1110.503.5/ 5
11110.54.5/ 5
11110.54.5/ 5
72% of retail investor accounts lose money when trading CFDs with this provider
30:1
0 pips
Standard
Plus500
Bank Transfer
Visa
Mastercard
Skrill
Paypal
Fees Included in Spread
1110.503.13/ 5
USD 10
Market Maker
Commodities
Cryptocurrencies
Forex
Indices
Stock CFDs
ETFs
25
12
  • Low minimum deposit
  • Wide range of assets
  • Unpublished spreads
  • Expensive withdrawals
  • Limited education
  • Limited market analysis
1110.503.5/ 5
111003/ 5
111104/ 5
100001/ 5
10.50001.5/ 5
111104/ 5
111104/ 5
85% of retail investor accounts lose money when trading CFDs with this provider
1000:1
5 pips
Live Account
IQ option
Bank Transfer
Visa
Mastercard
Skrill
Neteller
Bitcoin
Fees Included in Spread
Visit Broker

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