SpreadEX examen

Introduction

Established in 1999, Spreadex is an online FX broker offering financial trading, spread betting, and sports betting services. Headquartered in St. Albans, Hertfordshire, Spreadex positions itself as one of the leading spread betting firms in the UK.

Spreadex emphasizes a personalized trading experience, providing direct access to market experts and decision-makers. Over its history, Spreadex has navigated through various shifts and innovations in the financial world, experiencing both highs and lows.

This brokerage firm grants access to over 10,000 financial instruments, with a specialization in UK small-cap shares. Its comprehensive offerings cater to diverse trading preferences.

In this Spreadex Forex Broker review, the focus lies on evaluating Spreadex’s strengths and weaknesses, including live accounts, account denominations, deposits and withdrawals, mobile apps, and more. By the conclusion, readers can determine if Spreadex aligns with their trading needs.

Supported Countries

Spreadex Broker proudly asserts its presence as a global player in the financial markets, welcoming clients from a broad spectrum of countries spanning multiple continents. The firm extends its services to clients hailing from countries like Brazil, Argentina, Mexico, the United Kingdom, France, Germany, Italy, Spain, Sweden, Norway, Denmark, Finland, Japan, South Korea, India, Australia, South Africa, Kenya, Egypt, Ghana, Algeria, Saudi Arabia, United Arab Emirates, Qatar, Kazakhstan, Uzbekistan, Tajikistan, Indonesia, the Philippines, Malaysia, Singapore, Brunei, Fiji, Vanuatu, Cape Verde, Equatorial Guinea, Gabon, The Congo, Uganda, Rwanda, Zambia, Angola, Malawi, and Eswatini.

Despite its extensive global reach, Spreadex maintains a strict policy regarding client eligibility. The platform explicitly states that it refrains from accepting clients or residents from countries where utilizing its services would violate legal or regulatory mandates. These restricted countries include the United States, Syria, Cuba, China, North Korea, Yemen, Afghanistan, Iran, Iraq, Belarus, Venezuela, Chad, Libya, Nigeria, Somalia, and South Sudan. This policy ensures adherence to international regulations and compliance standards.

Customer Service Rating

On Trustpilot, Spreadex Trading has garnered a total of 76 reviews, boasting an excellent TrustScore and an impressive 4.6-star rating out of 5. Among the commendations, one reviewer lauded the platform for its comprehensive sports service, offering insightful stats and extensive coverage of events, particularly horse racing. They also praised the courteous and prompt customer service, especially during settlement queries or corrections.

Another reviewer highlighted Spreadex’s customer service as ‘on point,’ coupled with favorable spreads. A long-term trader noted the platform’s user-friendly interface and emphasized the importance of swift support team access. Additionally, a reviewer described Spreadex as having a clear, well-organized interface with fast execution and top-notch customer service.

However, not all feedback paints a rosy picture. Some clients expressed dissatisfaction with certain aspects of Spreadex. One complaint centered around the lengthy account opening process, citing it as time-consuming. Another grievance pointed to wider spreads on most tradable instruments. Additionally, a client accused Spreadex of imposing withdrawal charges, even for transactions within the UK, citing excuses made by the broker.

Despite the negative feedback, Spreadex’s responsiveness to all reviews underscores its commitment to customer satisfaction and professionalism. This blend of positive and negative feedback provides potential users with a balanced view of the platform’s strengths and weaknesses.

Spreadex Forex Trading Platforms

Spreadex sets itself apart from most forex brokers by offering its proprietary trading platform instead of the popular MT4 and MT5 options. Available on the web, iPad, iPhone, and Android devices, Spreadex’s platform boasts full customization, speed, and reliability. Additionally, clients gain access to TRADINGVIEW, enhancing their trading experience.

• Spreadex Trading Platform: Spreadex’s trading platform can be downloaded or accessed via a web-based browser. It features a clean and intuitive interface, along with fully customizable screens for organized trading. Traders benefit from advanced charting tools, including Pattern Recognition and Pro Trend lines, along with a wide range of technical indicators and macro-data directly available on charts. Other features include sophisticated drawing tools, an extensive price history of over ten years, templates for customization, and the ability to go long and short on the same market with guaranteed stops. Notably, the Spreadex trading platform received recognition as the Best for Efficiency of Taking Trades by traders in the Investment Trends UK Leveraged Trading Awards. Additionally, traders can set up price alerts to be notified when their chosen market hits specified levels, with options for receiving alerts via text, email, or push messages, all at no cost.
• TradingView Platform: Spreadex clients can access the TradingView platform, offering robust charting and analytical tools for an unparalleled trading experience. The platform provides an array of technical indicators, advanced screeners, financial reports, and more. With 12+ chart types, 50+ drawing tools, and 100+ pre-built technical indicators, traders can customize their analysis to suit their needs. Moreover, TradingView facilitates community interaction by enabling traders to research thousands of up-to-date community ideas and scripts. Compatible with all modern browsers and available as both a desktop and mobile app, TradingView enhances the trading experience with comfortable spreads and competitive commissions when linked to a Spreadex broker account. Additional features include expanded workspace size for better analysis and the ability to link several tabs with the same symbols.

Type of Trading Accounts on Spreadex

Spreadex stands out from many forex broker platforms due to its unique approach to account types. The broker offers Spreadbetting and CFD accounts available, inside them Corporate,  Joint and Professional account subcategories available.

• Account oppenning: Spreadex simplifies the account setup process by offering a single integrated account. Prospective clients fill out an application form and proceed with funding to initiate live trading. The account interface allows users to view online history and statements, receive instant bet confirmations, and set suitable trading preferences. Notably, Spreadex imposes no minimum deposit requirements. However, to comply with FCA regulations, new customers must undergo compliance checks, including providing scanned copies of identification documents and recent utility bills or bank statements. While the compliance process may take several days, approved traders can utilize their single account for both sports and financial betting. Additionally, some traders may qualify for a credit limit, which they can apply for upon signing up. If accepted, traders can commence trading immediately without depositing funds into their account or opt for the standard pay-as-you-go option.

Despite its streamlined account policy, Spreadex lacks a demo account feature. This omission is significant, as demo accounts serve as valuable tools for both getting acquainted with a broker and platform and for novice traders to develop market confidence. Traders seeking a demo account may want to explore alternative brokers that offer this service free of charge and for an unlimited period.

Trading Denominations on Spreadex Forex

Spreadex offers its clients the flexibility to denominate their accounts in three major currencies: USD, EUR, and GBP. While this feature provides some level of flexibility, it’s essential to recognize that the options available are relatively limited compared to other broker platforms.

Some brokers allow clients to denominate their accounts in up to 12 different base currencies, offering a broader range of choices. Thus, while Spreadex caters to the needs of clients with these major currency options, it may be worth considering other platforms for those seeking more diverse currency denomination options.

Company Structure

Spreadex Ltd facilitates trading in forex, CFDs, and spread betting, entering the digital trading and gambling scene in 1999. Originally headquartered in Dunstable, Bedfordshire, the company relocated its central office to St Albans, Hertfordshire, in February 2008. Spreadex now offers clients access to six classes of trading instruments.

In 2006, the UK-based limited company launched an online spread betting service, followed swiftly by their financial trading platform. By May 2010, Spreadex introduced a new fixed-odds sports betting service, enabling users to place bets in both fractional and decimal formats. In 2011, the firm unveiled a digital casino featuring a dealer service and various games like slots, roulette, and blackjack. ‘Speed Markets’ were introduced in 2013, allowing clients to place fixed-risk bets on financial markets.

Spreadex regularly advertises available positions, welcoming interested applicants to be part of its inclusive and diverse team. It is recognized as a world leader in sports spread betting and a major player in the financial spread betting industry. Employees enjoy generous holiday allowance, an annual bonus scheme, private health care, and a contributory pension scheme.

Over the years, Spreadex has garnered numerous awards and recognition in the financial industry. In 2023, the platform was voted the Investment Trends 2023 Winner of Best Mobile Platform/App and Best Platform Reliability. Additionally, Spreadex has been honored as the Best Spread Betting Firm in various years at the City of London Wealth Management Awards and the Good Money Guide Awards, as well as at the EGR Operator Awards. Spreadex boasts a stable and profitable track record and is listed in the Financial Times Europe’s fastest-growing 1000 list.

Spreadex Forex Licenses and Regulatory Compliance

Spreadex operates under regulatory oversight from the UK’s Financial Conduct Authority (FCA) with license number 190941. As a tier-one regulatory body, the FCA ensures strong investor protection, which instills confidence in potential clients. This regulatory framework underscores Spreadex’s commitment to transparency and integrity in its operations, assuring traders seeking a reliable and secure trading environment.

When you place a spread bet, you’re entering into a legally enforceable contract governed by section 412 (or any superseding section) of the Financial Services and Markets Act 2000.

Regarding fixed odds, Spreadex Ltd operates under a license from the Gambling Commission, with license number 000-008835-R-104580-004, ensuring compliance with regulatory standards.

For casino betting, Spreadex Ltd operates under an approved Business Association with Net Entertainment Alderney Ltd, licensed by the Alderney Gambling Control Commission (AGCC) under License #084. This ensures adherence to regulations and standards in casino betting operations.

Spreadex Customer Protection

Spreadex operates under the authorization and regulation of the UK Financial Conduct Authority (FCA), ensuring compliance with the FCA’s client money rules. This mandates the separation of client funds from the firm’s funds, providing added security for clients’ capital. Under FCA oversight, Spreadex must adhere to regulations aimed at protecting consumers and maintaining the security of clients’ funds, safeguarding them from scenarios like bankruptcy.

Spreadex prioritizes client protection by offering an Investor Protection pack of up to £85k, providing an extra layer of security for clients’ investments. Additionally, Spreadex has implemented Negative Balance Protection, shielding clients from adverse market movements to prevent losses exceeding the funds in their accounts. Collectively, these measures contribute to a secure and transparent trading environment for Spreadex clients.

Customer Service

Spreadex prides itself on delivering above-average customer service to its traders, catering to both financial and sports betting needs. Clients have multiple avenues to reach out for assistance, including a dedicated phone line at +44 1727 895 000 and email support at [email protected]. For quick inquiries, Spreadex offers a live chat feature on its help page, facilitating prompt dialogue with support representatives.

In addition to these customer support options, Spreadex hosts a dedicated Help section on its website, offering a wealth of informative articles and answers to commonly asked questions. This resource-packed segment addresses a wide range of client queries, ensuring traders can quickly find solutions to their concerns. Spreadex’s support team comprises courteous and knowledgeable employees, with response times aligning closely with industry standards.

Clients can access Spreadex’s support services throughout the week, from Monday to Sunday, between the hours of 8 am and 5:30 pm, providing ample assistance during trading hours.

Trading Information

Spreadex operates during normal market hours and extends its trading services beyond standard times. From 21:00 on Sunday until 21:15 on Friday, the company quotes prices on UK 100 markets, offering out-of-hours trading opportunities. Spreadex generates revenue by widening the spread from the bid/offer price and incorporating commission within it. The broker’s minimum spreads are notably attractive, with the EUR/USD pair starting from 0.6 pips, compared to the industry average of around 1.5 pips.

Traders should be aware of rollover charges based on their position size. For major FX, commodity, and index markets, Spreadex’s rollover charges are generally aligned with industry standards. One notable advantage discovered in this guide is Spreadex’s absence of inactivity fees, distinguishing it from many competitors. Moreover, the broker does not impose deposit or withdrawal fees, enhancing the cost-effectiveness of trading with Spreadex.

Tradable Instruments

Traders at Spreadex enjoy a wide array of speculative opportunities, with over 60 FX pairs available for trading and access to more than 10,000 instruments. These instruments encompass

• Forex
• Shares
• Indices
• Interest rates
• Bonds
• ETFs
• Commodities

Spreadex boasts one of the most extensive selections of AIM stocks in the market. In addition to financial instruments, Spreadex applies its spread betting concept to sports events, offering speculation opportunities across various sports categories. Traders can engage in spread betting on events ranging from UFC and golf to cricket and e-sports. Other options include football supremacy betting, horse racing, virtual sports, and even political events like the UK general elections.

Spreadex provides traders with a diverse range of trading options, catering to a broad spectrum of interests and investment strategies. This extensive selection allows traders to explore various markets and capitalize on emerging opportunities across different asset classes and sporting events.

Spreadex Forex Leverage

As a UK brokerage firm, Spreadex adheres to regulatory restrictions governing leverage levels. Retail traders can access maximum leverage of 1:30 for major currency pairs, with lower leverage offered for other instruments. These limitations are in place to ensure responsible trading practices and mitigate the potential risks associated with high leverage ratios.

Deposits and Withdrawals

Deposits

Spreadex offers clients multiple deposit methods, including cheque, wire transfer, debit and credit cards, and online bank transfer. The broker don’t charge deposit fees. However, it’s important to mention that Spreadex does not accept deposits from e-wallets like Moneybookers, Paypal, Neteller, or Ukash, which may disappoint clients preferring these deposit methods.

Clients should anticipate some time required for bank details verification initially, and they can only use currencies such as GBP, USD, EUR, CHF, and CAD. On a positive note, Spreadex imposes no minimum deposit requirement, making it appealing to a wide range of clients.

In compliance with regulations and anti-money laundering rules, Spreadex does not accept third-party payments. Traders also have the flexibility to adjust their credit limit on Spreadex. However, requests to increase the credit limit beyond £2000 necessitate additional documentation for verification purposes and only available for professional clients. These policies ensure a secure and transparent deposit process for Spreadex clients.

Withdrawals

The minimum withdrawal amount at Spreadex is £50 in cleared funds from your trading ledger. If the available amount is less than £50, you can only withdraw the full amount. Traders can utilize the same withdrawal method as they used for depositing funds. Withdrawals to cards must go back to the card used for deposit, with a maximum withdrawal amount onto a card set at £25,000, except for Mastercard, which is limited to £2,500 at a time. However, multiple withdrawals in one day are possible.

Card withdrawals are typically completed within 2 hours of approval, though some card issuers may take 2 to 5 days to process payments. Bank transfers should be reflected in your account within two working days. International bank transfers and transfers in currencies other than Pounds sterling may incur additional conversion charges for foreign clients.

For urgent transfers, clients can opt for the CHAPS same-day transfer feature, subject to a £25 charge. To ensure same-day delivery, the deadline for amounts over £50,000 is 10:00, while for amounts under £50,000, the deadline is 13:00. These withdrawal policies aim to provide clients with efficient and transparent transaction processes at Spreadex.

Spreadex Trading Education and Training

Spreadex offers a valuable knowledge base for its clients to access. The platform features a comprehensive Help section on its website, providing a wealth of information for traders. Additionally, clients can stay informed about current events in the financial industry by exploring the News and Analysis section. For those looking to enhance their trading skills, Spreadex’s Learn To Trade section offers an educational hub filled with articles covering various trading topics.

Within Spreadex’s educational resources, traders can find a range of useful materials, including:

• Tips
• Interviews
• Market updates
• Charting guides
• Trade examples
• Economic calendars
• Explanations of indicators

The platform also provides video guides on Premier League points and essential sports information, including rules for golf, tennis, and cricket. These resources aim to empower traders with the knowledge and insights needed to make informed decisions in the dynamic world of trading.

Unique Selling Points

1. FT Subscription Offer: Spreadex provides clients with a 6-month gift subscription to the Financial Times. To qualify, clients need to complete the application process to open a live trading account and deposit at least £500 (or equivalent) within 30 days of account opening. Once qualified, clients receive an activation link from the FT within 72 hours. They must activate the subscription within 30 days; otherwise, it will lapse. The 6-month subscription begins upon activation, with a maximum of 1 subscription per person.

2. Unique WebTrader Platform: The WebTrader app by Spreadex is a powerful tool enabling traders to access financial markets anytime, anywhere. It offers a comprehensive range of technical indicators to assist traders in making well-informed decisions. Spreadex provides various charting options, including candlestick charts, line charts, and bar charts, catering to diverse trading styles.

3. Comprehensive Trading Education: Spreadex prioritizes client education, offering an education hub covering everything from spread betting fundamentals to the use of technical and economic indicators. Whether traders are new to trading or experienced investors, Spreadex ensures opportunities for improvement and staying on top of the trading game.

4. Efficient Customer Service: Spreadex prides itself on efficient customer support, with quick response times and effective communication with customers. The broker maintains a team of knowledgeable and well-trained customer support representatives who address inquiries promptly. Online reviews highlight Spreadex’s commitment to understanding each customer’s specific needs and concerns and providing tailored solutions accordingly.

Conclusion

Spreadex Forex Broker offers a comprehensive trading experience for traders of all levels. With a variety of trading accounts tailored to different needs and experience levels, traders can find an option that suits them best. The availability of Spreadex’s proprietary platform and TradingView, enhances flexibility and accessibility for traders.

Spreadex extends its services to clients in a wide range of countries across several continents, offering access to a diverse array of trading instruments, including forex, CFDs, and spread betting. However, it’s important to note that there are certain restricted countries where Spreadex does not offer its services due to regulatory restrictions.

As a regulated broker authorized by the UK Financial Conduct Authority (FCA), Spreadex adheres to strict regulatory standards, providing clients with a level of security and peace of mind. The broker’s customer protection policies, including segregation of client funds and negative balance protection, further bolster confidence among traders.

Traders can benefit from competitive leverage levels, a variety of deposit and withdrawal methods, and a robust educational resource center. Spreadex’s educational resources equip traders with valuable insights and knowledge to make informed trading decisions.