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Spreadex Review

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Spreadex is a UK-regulated trading platform, offering access to financial spread betting, CFDs and forex with low fees and slim spreads. Founded in 1999 by former trader, Jonathan Hufford, it made its name in offering financial spread betting, before diversifying to offer some other trading instruments. Not as broad in scope as some other brokers, Spreadex tends to be a choice for those looking at spread betting and CFDs specifically, rather than those looking for a broker to trade in other markets and derivatives.

However, while its selection of markets is slimmer than those available at some brokers, there is still a lot to like about the Spreadex offering – particularly for those looking for a convenient, low-cost platform for spread betting, CFDs and forex trading.

Trading Instruments at Spreadex

Spreadex has a tight selection of trading instruments available, with some notable exceptions that many more advanced traders will miss. For most retail traders however, the selection available for spread betting, CFDs and forex trading will be sufficient to meet their needs. Markets are available across all the main global currency pairs, as well as spread betting markets on a wide range of underlying markets. As a leading spread betting broker since 1999, Spreadex excels in this area, with a good selection of markets available at tight spreads.

Trading is easy through the web and mobile interface, which is fairly self-explanatory and designed to be used by traders of all levels of experience. While there is no desktop trading platform as such, the Spreadex interface is streamlined enough on both web and mobile trading for the majority of traders.

Spreadex User Interface, Charting Tools and Order Execution

Advanced charting tools are part of the offering at Spreadex, both through their web and mobile interface. You choose to trade via charts, a range of drawing tools, tick-by-tick intervals and a host of other features, with templates you can use and customise to fit with your trading strategy. With price alerts, advanced orders and watchlist tools amongst others, there is plenty in the way of technical support to equip traders with the resources they need to execute a range of strategies.

Order execution is generally smooth and quick, even in times of high volatility and lower liquidity. Generally considered on the faster end of the spectrum for execution, Spreadex customers benefit from a lower market risk than with some other brokers when entering and exiting their positions.

It’s hard to fault Spreadex on the technical side. Everything they offer is easy enough to use, even for those still finding their feet with trading fundamentals, while providing the tools intermediate and more experienced traders need to make informed decisions about their trading.

Spreadex Mobile Apps

Spreadex has a range of apps available for traders who like to manage their positions on-the-go. Apple and Android users can benefit from apps that are free to download and install, offering a simple, intuitive interface for trading and monitoring your positions. The apps are encrypted by SSL for cutting edge levels of security, fast execution, price alerts and advanced charting software all built into the apps as standard.

Spreadex has gone all out with its apps, making them some of the best we’ve seen from a UK broker. Everything you could want as a retail trader is contained within the apps, all offering a native experience to your mobile device for the most streamlined trading interface available on mobile.

Alternatively, you can also login to your trading account on mobile via your device browser – an equally suitable option for traders who prefer not to download the app, or who want to login periodically to check the progress of their trades.

Accounts and Fees

One of the things Spreadex has become known for is its low fees – both trading and non-trading. There are low fees for trading forex, and no fees at all for inactivity. Again, this is something you often find across a number of leading brokers, where a charge will be levied for periods of inactivity on any balance within your account. At Spreadex, fees are only charged when you trade.

On the CFDs side, the fees can be slightly higher, but by no means outside the realms of average for brokers of this scale. Generally, trading with Spreadex feels like a low-ish fee experience, which is one of the reasons they remain such a popular choice for traders nearly 25 years after they were established.

Deposits and Withdrawals

With no minimum deposit amount and fast withdrawals across the board, Spreadex is top in class on the banking side. The lack of a minimum deposit means it’s possible to set up your account right away without committing initial capital – you can decide to deposit at a later date through one of the many supported payment methods, including debit card and direct bank transfer.

There is a minimum withdrawal amount of £50, though this is reasonable enough given the lack of deposit minimums. Withdrawals are processed quickly and can be with you in a matter of hours for most payment methods. At worst, you can expect to wait between 2-5 days to receive cleared funds in your account, in cases where your bank is not set up to receive the funds faster.

All in, the depositing and withdrawal experience at Spreadex feels pretty seamless – a major advantage of choosing Spreadex as your CFD broker or spread betting company.

Trust and Reputation

Trust is all important in a broker – with Spreadex, you can sleep easy in the knowledge that this is one of the leading names in the UK scene. Having been around since 1999, they continue to attract new customers while holding on to the old guard – testament to the trust and reputation they’ve built up in the market over the past 25 years.

As a fully compliant and FCA regulated broker, Spreadex has the highest levels of regulatory compliance possible for a UK broker. This means they operate entirely within UK laws, including consumer protection laws for retail customers, for that added sense of security. With full encryption on their website and mobile apps to protect your personal and financial data, Spreadex is a safe, secure and trusted place to conduct your trading business.
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