Spread Co is an FCA-regulated spread betting broker with 1,000+ markets, including mini-markets for smaller bet sizes – ideal for new traders. In this Spread Co spread betting review, I’ve used my live trading account to test the broker’s trading conditions and see how it performs during London trading hours.
Spread Co Summary
Our review for Spread Co was not complementary with a score of 46/100. Spread Co rated 12th of the 16 spread bet providers with both high fees and a poor trading experience overall. The trading platform is at least half-decent but only because it uses TradingView’s charts.
If there is any positive to the broker it’s that the broker allow smaller bet sizes from 10p per point staked (instead of £1).This allows you to experience spread betting without risking too much until you are ready to scale. I think the perfect balance for this broker is betting on the mini markets or indices, as the fixed spreads.
Spread Co offers a spread-only pricing model through its spread betting account, meaning there are no commissions, and the cost to trade is built into the spread. The spreads are variable, which means they can widen or narrow throughout the trading day.
Using my live Spread Co account, I tested the spreads during typical trading hours to determine the average cost of trading. I found that Spread Co is competitive, with spreads averaging 1.10 pips on EUR/USD, slightly more expensive than its minimum spread of 0.80 pips. This variance is expected during the trading day, and the average of 1.10 pips is slightly below the industry average of 1.12 pips, as shown in the chart below.
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Spread Bet Spreads
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1.10 | 1.50 | 1.40 | 1.40 | 1.70 |
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0.90 | 1.20 | 1.60 | 1.50 | 1.80 |
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0.80 | 1.10 | 1.40 | 1.00 | 1.40 |
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0.90 | 1.20 | 1.40 | 1.10 | 1.80 |
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1.00 | 1.10 | 1.50 | 1.20 | 1.50 |
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0.85 | 1.40 | 1.40 | 0.82 | 1.77 |
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1.10 | 1.30 | 1.60 | 1.20 | 1.60 |
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1.20 | 1.30 | 1.30 | 1.20 | 1.70 |
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1.00 | 1.50 | 1.50 | 1.00 | 1.80 |
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1.00 | 1.30 | 1.60 | 1.30 | 1.50 |
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1.30 | 1.50 | 1.50 | 1.50 | 1.50 |
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0.90 | 1.40 | 1.40 | 1.30 | 2.20 |
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1.20 | 1.50 | 1.50 | 1.40 | 1.80 |
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1.90 | 1.20 | 2.00 | 1.00 | 1.70 |
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1.40 | 1.70 | 1.60 | 1.40 | 1.80 |
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1.40 | 1.40 | 1.70 | 1.90 | 1.70 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 20/09/2024
However, like most brokers, Spread Co offers the best spreads for EUR/USD due to its high liquidity. Other markets, such as AUD/USD (averaging 1.40 pips) and is almost 15% more expensive than the industry average at 1.24 pips.
Finding a broker with consistently low spreads across all of its markets is crucial for reducing overall trading costs. I think Spread Co performs fine in this regard, though there’s room for improvement in some markets like GBPUSD.
To help calculate how spreads impact trading fees, use the fee calculator I created to compare Spread Co with their main competitors.
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Interestingly, Spread Co is the only broker I’ve seen that offers fixed spreads on indices. For example, the FTSE100 spread is fixed at 0.60 points during trading hours (08:00 – 16:30 UK time), although it widens significantly to as high as 4.1 points outside these hours.
Other popular indices, like the S&P 500, also have low fixed spreads of 0.40 points during US trading hours. In my opinion, Spread Co offers the best spreads for index spread betting.
Verdict on Spread Co’s Spreads
I rated Spread Co a 3/10 for trading fees with poor spreads across both currency and shares. They have just a few bright spots from the GBP/USD spread to their indicies trading costs but overall their fees are abnormally expensive.
Spread Co offers its proprietary web-based platform, SaturnTrader, which clients can access from any device with an internet connection.
When I first started using SaturnTrader, I was initially underwhelmed. Compared to popular platforms like MetaTrader 4, it felt quite basic, lacking many advanced tools that most brokers offer.
The interface seemed clunky, and I encountered some issues opening charts and using watchlists, though this could have been due to browser compatibility problems impacting the trading experience.
However, my opinion improved when I discovered that SaturnTrader leverages TradingView’s charts. This was a pleasant surprise, as TradingView is known for its extensive suite of charting tools.
With the TradingView integration, you get 100 built-in technical indicators, 12 chart types, and more than 50 drawing tools. The platform allows for highly customisable and visually appealing charts, with features like auto-saving and multiple chart layouts.
Once I loaded the charts, the platform became much easier to use. Trading directly from the charts was a far better experience than using the platform’s order ticket feature. I can’t fault the charts—I think Spread Co made an excellent choice by integrating TradingView instead of programming their own.
While the abundance of indicators and drawing tools makes the platform easy to use for technical analysis, the platform won’t let you automate your strategies. This may be a drawback for some spread bettors who prefer to use automated trading systems or algorithmic strategies to manage their positions.
I was also surprised to find the broker doesn’t offer guaranteed stop loss orders on its platform.
Spread Co offers SaturnTrader as a mobile trading app for iOS and Android. I found the mobile app to be pretty much the same as the web application, allowing you to perform the same analysis on your mobile device as you would on your desktop. It has all of the same indicators as TradingView charts, which is good.
Interestingly, I felt the mobile app performed better overall. It was more responsive and easier to navigate compared to its desktop counterpart.
One advantage I particularly appreciated was the ability to set up push notifications. These alerts can notify you about trade management events or price alerts, prompting you to take a bet and allowing you to react to changing market conditions on the go.
When it comes to execution speeds, I found Spread Co to be efficient. It’s worth noting that the broker operates as a Market Maker, which means all your trades are executed against the broker. This typically results in faster execution times.
Despite the platform’s clunkiness, I was pleasantly surprised by Spread Co’s execution speed. After placing more than 20 trades, I could enter the market when I wanted without experiencing any price rejections. This consistency in execution was a definite plus in my book.
Verdict On Spread Co Trading Platforms
SaturnTrader wouldn’t be my go-to platform, but I think the fact that it has TradingView’s charts saves the platform thanks to the excellent indicators it brings. Without the advanced charts, SaturnTrader would be a very limited trading platform in terms of technical analysis features.
Yes, Spread Co is a safe choice for financial spread betting, given its long-standing presence since 2006 and regulation by the Financial Conduct Authority.
I believe that Spread Co’s regulation by the FCA is a strong indicator of its trustworthiness and commitment to protecting its clients. The FCA is one of the most respected financial regulators globally, and its oversight ensures that Spread Co adheres to strict guidelines and maintains high standards of operation.
As a spread bettor, I feel confident knowing that my funds are held in segregated accounts and that the broker is subject to regular audits and reporting requirements. FCA regulation also provides access to the Financial Services Compensation Scheme (FSCS), which can offer compensation in the event of broker insolvency.
While I couldn’t verify Spread Co’s exact number of traders or find specific awards, I think their longevity speaks volumes. Operating since 2006, Spread Co has maintained a loyal client base. In my experience, brokers don’t survive for nearly two decades without satisfying their customers. This track record suggests a level of reliability and consistency in its services that I find reassuring as a spread bettor.
I always check TrustPilot for a broader perspective on a broker’s reputation. Spread Co’s score of 4.3 out of 5 based on 46 UK reviews is impressive, earning them an “Excellent” rating. I find this particularly encouraging as it suggests consistent performance across various aspects of their services. While the number of reviews isn’t vast, the positive sentiment aligns with my experience using their platform.
Verdict on Spread Co’s Trustworthiness
By being regulated by the FCA, Spread Co has had to prove to the authority how professional and secure its operations are, which is a strong trust signal. Backing up this trust is having over 15 years of industry experience, showing that its customers value its services.
Spread Co offers traditional methods for funding your account, including debit card and bank transfer options. While these are standard choices, I would have liked more modern payment methods like PayPal, Skrill, or Neteller.
The minimum initial deposit at Spread Co is £50, which is relatively low compared to other brokers. However, I believe depositing at least £100 is ideal to ensure you have sufficient funds to open a spread betting position and meet margin requirements. This higher amount provides more flexibility and reduces the risk of immediate margin calls.
Spread Co offers three account-based currencies for spread betting: GBP, USD, and EUR. These options are beneficial, as they allow you to choose the currency, minimising currency conversion fees.
Spread Co provides several methods for depositing funds, including debit cards, credit cards, and bank transfers with no deposit fees. I found that deposits via debit and credit cards were processed instantly, allowing me to start trading quickly. However, bank transfers were slower and can take up to 3 business days, taking more time to reflect in my trading account.
I found Spread Co to be quite efficient in processing withdrawals and approving my requests within hours. However, it’s worth noting that receiving the funds can take 1-3 days.
Spread Co has a £50 minimum withdrawal policy, automatically withdrawing your full balance if you request less than £50. In my opinion, this is a fair approach that prevents account dormancy. I was pleased to see no standard withdrawal fees, though they offer a same-day bank transfer option for £10, which I think could be useful in urgent situations.
In my experience, opening an account with Spread Co was a short online process. The application was standard for the industry, asking about market knowledge, risk tolerance, and financial/employment details. While these questions might seem intrusive to some, I understand they’re necessary due to FCA requirements.
I completed the process in about 5 minutes, and my account was approved within 24 hours of submitting verification documents. In my view, this is a decent turnaround time, balancing efficiency with necessary due diligence.
Verdict On Spread Co Funding
Spread Co offers the basic options for funding your account, which are proven to be the cheapest, fastest, and most secure methods of payments with brokers. In terms of processing, I found the broker did a great job ensuring my deposits and withdrawals were processed as fast as possible.
Spread Co is a multi-asset spread betting broker offering over 1,000 financial instruments, ranging from forex to equities. The broker offers a good selection of markets to trade, especially the mini markets, which make it cheaper for new spread bettors.
In my experience, Spread Co’s forex offering is solid, with 35+ currency pairs covering majors, minors, and a couple of exotic forex pairs. The selection provides access to popular pairs like EUR/USD, GBP/USD, and USD/JPY, which I think will be enough for most traders. However, if you prefer trading higher-risk exotic currency pairs, Spread Co lacks in this department.
I found Spread Co’s commodity markets range to be rather basic. With just five markets focused on energy and metals, I could spread bet on markets like oil and gold. However, I was disappointed by the absence of soft commodities and other metals such as copper and palladium. You might find this selection restrictive if you’re looking for a wider range of commodity markets.
I found Spread Co’s indices offering to be comprehensive. With 17 markets covering major global stock indices such as the FTSE 100, the broker also offers other popular indices like the S&P 500, Dow Jones, and DAX, providing a good range of options if you like trading indices.
One of Spread Co’s strengths is its extensive share trading offering. With access to over 1,000 shares across major stock exchanges like the FTSE 100 and NASDAQ, I could easily trade popular companies like Tesla and Tesco during my review. The wide selection of shares makes Spread Co an attractive option for those looking to spread bet on individual companies.
One area in which Spread Co performs well is its range of ETF markets, which give you access to 80+ ETFs with strategies covering currency, bonds, equities, and commodity markets.
I was impressed that the broker offered mini spread betting markets with lower stake sizes from 10p instead of the traditional £1. This allows you to spread bet without risking too much, which I think is helpful if you are new to trading and transitioning from a demo account to a live account. You can find mini markets on major assets like EUR/USD, gold, and the FTSE 100.
Verdict On Spread Co Trading Products
Spread Co has a decent amount of financial markets to trade, covering the popular markets, but I was more impressed with the mini-spread betting markets available. This is an excellent offering to help beginners or those with low funds experience spread betting with small bet sizes.
During my review, I found Spread Co’s customer service to be one of their strongest offerings. I was particularly impressed with their 24/5 live chat, which connected me directly with a human agent instead of a bot. This saved me the hassle of filling in lots of information before getting an answer, making the process much more efficient.
Spread Co offers multiple departments to call into, including client services, sales, and dealing desk. Client services operate from 8 a.m. to 5:30 p.m., making support available during market hours. However, live chat is the only option if you need assistance after these hours.
I was pleased to see Spread Co’s dealing team is available 24 hours a day during the trading week. This level of accessibility is essential if you need to make quick decisions or resolve issues related to your trades.
Verdict On Spread Co Customer Service
Spread Co has done a good job at providing multiple channels to contact customer support, especially for the phone and live chat options. Connecting with a human agent immediately on live chat is a particular highlight, especially considering their professionalism.
Spread Co doesn’t offer much market research, but it offers a solid range of educational resources.
Spread Co Market Research
I was disappointed that Spread Co lacks additional in-house or third-party market research services, which is a letdown compared to many other brokers I’ve used. Most competitors offer at least a service like Trading Central to cover this aspect.
While they have a market news section, I discovered this information is simply streamed from DailyFX. This approach feels somewhat lacking, as I believe traders would benefit from research and technical analysis tools.
Spread Co Trading Guides
Spread Co offers over 60 trading guides covering various topics, from day trading strategies to using their SaturnTrader platform.
However, I found that the content lacked depth, with little to no images or examples supporting the information. It seems like these guides are more focused on generating traffic to the website rather than providing genuine value to clients, which I think is disappointing.
Spread Co Demo Account
I appreciate that Spread Co offers a free demo account, which is available for two weeks and provides £25,000 in virtual funds to trade with. This is a decent timeframe for new traders to get a feel for the platform and test strategies in real-time with a live market price feed without risking real money. However, I think a longer demo period would benefit thorough testing and learning more.
Verdict On Spread Co Research and Education
This is one category that Spread Co underperformed in as it lacks any market analysis tools that are common with most spread betting firms. On the other hand, education offers a decent catalogue of online lessons but falls short of engaging content with the lack of videos and charts.
Spread Co has a few excellent stand-out features, like the mini spread betting markets, which allow for small stake sizes. I think this is excellent for new bettors that most brokers have overlooked. The trading conditions are smooth, and the spreads are somewhat competitive if you focus on major markets.
However, I think it can improve its services to support your trading, like providing market research (in-house or third-party services) to help analyse the markets or additional platforms like MetaTrader 4 for automated trading options.
That said, I think Spread Co is a top pick if you want to spread bet indices because its fixed spreads during London trading hours are far cheaper than those of most other brokers.
No, CFDs and spread betting are different. While both derivatives involve speculating on price movements without owning the underlying asset, spread bets are tax-free in the UK. At the same time, CFD profits are subject to capital gains tax.
Spread betting is risky due to market volatility and leverage, which can magnify both profits and losses. You need to focus on highly liquid and not volatile markets while using strict risk management to lower your risk spread betting.
Spread betting can be highly profitable if you have a market-proven trading strategy, sound risk management, and years of experience knowing how the markets react daily. Most unprofitable traders think spread betting is about getting rich quickly, so they risk too much money and get wiped out.
A spread betting broker is a company that facilitates spread betting markets by providing a service to buy and sell assets through the broker’s platform. The broker deals and executes your bets while providing live pricing so you can analyse the markets.
Yes, Spread Co offers some of the tightest spreads for its foreign exchange and indices markets. For EUR/USD, you can get spreads from 0.80 pips, while with indices, you can get FTSE 100 spreads fixed at 0.60 points during the London trading session
No, you do not need a new account to trade Mini Markets. You can use the same Spread Co account to trade standard spread betting markets and CFDs. Mini Markets offer smaller stake sizes, starting from just 10p instead of the minimum £1 per point stake size, providing a lower barrier to entry for forex trading.
The key difference between spread betting and CFD trading is how tax laws treat them. Spread betting is tax-free from capital gains tax and stamp duty because with spread betting, you never own the underlying market, making it a top option for profitable traders. While CFDs are subject to paying capital gains tax, your losses can be written off against your wins.
Yes, hedging is possible on the Spread Co platform with retail investor accounts allowing you to place short positions to hedge long trades and vice versa without closing your open bets.
Yes, spread betting with Spread Co allows the use of leverage as it is built into the product. Leverage allows you to open larger positions with less capital, amplifying your profits and losses.
This review focuses exclusively on UK spread betting brokers. We compared trading accounts from FCA-regulated brokers offering spread betting services. For consistency, we primarily evaluated accounts using the MetaTrader 4 platform.
Our Methodology:
Our goal is to provide UK traders with well-informed recommendations for the best spread betting brokers in the market.
You can learn more about how we perform our spread bet broker reviews on our methodology page.
