Spreadex is a spread betting broker specialising in financial and sports spread betting with low trading costs. In this Spreadex spread betting review, I’ve tested the broker’s trading conditions and spreads to see how they perform in the real-world.
Spreadex Summary
Spreadex is an ideal pick if you are an active trader, as its tight spreads, solid trading conditions, and range of markets make it a top environment to spread bet. In particular, I like that Spreadex offers TradingView, which I think is the best platform for technical analysis, as its charting outperforms everything else I’ve used. As a bonus, if you like to spread bet on sports events, you can enjoy both financial and sports spread betting under one company.
64% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
SpreadEx has the second lowest spread betting fees based on a comparison of all 16 spread betting broker’s accounts. The most traded instrument is forex and below are the average spreads of each spread bet account that I updated recently.
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Spread Bet Spreads
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0.90 | 1.20 | 1.40 | 1.10 | 1.80 |
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0.80 | 1.10 | 1.40 | 1.00 | 1.40 |
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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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0.90 | 1.20 | 1.60 | 1.50 | 1.80 |
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1.10 | 1.50 | 1.40 | 1.40 | 1.70 |
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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
As you can see, SpreadEx across the 9 currency pairs that I compared has near the best average spreads with an average spread of 1.52. Only Pepperstone has a lower average of 1.50 but only just. In the table below, I compared the SpreadEx spread to the industry average, and except for the USD/CAD, the broker consistently had low spreads.
| SpreadEX Spread | Average Industry Spread | |
|---|---|---|
| EUR/USD | 0.9 | 1.12 |
| AUD/USD | 1.1 | 1.26 |
| EUR/GBP | 1.2 | 1.35 |
| GBP/USD | 1.4 | 1.53 |
| USD/JPY | 1.1 | 1.26 |
| AUD/JPY | 1.8 | 1.86 |
| EUR/JPY | 1.8 | 1.85 |
| USD/CAD | 1.8 | 1.69 |
| USD/SGD | 2.6 | 2.81 |
To help calculate how spreads impact trading fees, use the fee calculator I created to compare SpreadEX with their main competitors.
Calculate Your Cost To Spread Bet
Total Cost of Spread Bet
Total Cost of Spread Bet
Total Cost of Spread Bet
Total Cost of Spread Bet
Of course, SpreadEX offers more than just forex spread betting so I compared the next most popular instrument to trade (Shares). Below are the fees by each market with SpreadEX beating the industry average across all five.
| Share Category | SpreadEX | Industry Average |
|---|---|---|
| UK Shares | 7pt | 5.19pt |
| US Shares | 0.15% | 0.16% |
| Geman Shares | 0.15% | 0.15% |
| Hong Kong Shares | 0.15% | 0.20% |
| Australian Shares | 0.15% | 0.17% |
SpreadEX avoids hidden fees as well including:
The only additional fees worth factoring in are for positions held overnight known as funding charges or financing fees. These are standard within the spread betting industry so I haven’t compared them but it’s worth understanding if you’re planning to hold positions for a longer period.
Verdict on Fees
I gave SpreadEX a rating of 9/10 for their fees based on the fact they had the 2nd lowest spread when trading currencies. The rating was also based on the fact their spread on shares is consistently below the industry average. If trading fees are important to you, then I would be shortlisting SpreadEx of Pepperstone as the right broker for you.
64% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
I found that Spreadex offers two trading platforms: its proprietary Spreadex platform and TradingView. Both platforms provide value for different trading styles, especially if you focus on technical analysis.
I’m a fan of brokers that offer TradingView, and Spreadex is one of them. From my experience, it’s one of the best trading platforms, offering the industry’s best charting and technical analysis tools.
The charting tools are a standout feature for me, with over 100 built-in technical indicators, 12 chart types, and more than 50 drawing tools. Plus, TradingView is always updating its catalogue with new and improved indicators, such as automated support and resistance levels, giving you endless choices for improving your technical analysis.
You can use the Pine Script to develop custom indicators if you require bespoke indicators.
The advanced analysis tools on TradingView, such as Volume Profile, let you use the volume data collected by TradingView to analyse markets. The Screener tool provides you with a toolkit for filtering assets based on various criteria, helping you find assets ready to spread bet on.
One unique aspect of TradingView is its social trading and community features. The platform is a social network for traders, allowing you to share ideas, strategies, and analyses through chat rooms and video streams. I found this environment valuable for learning and exchanging ideas with other traders.
However, one drawback I encountered with TradingView was the inability to automate trading strategies fully. While custom indicators can alert you when there is an opportunity, you cannot set them to execute bets or manage trades automatically. This semi-automated trading option may appeal to some traders who prefer to review the markets before entering a trade.
The Spreadex web trading platform impressed me with its decent charting capabilities. It offers over 35 technical indicators, including popular ones like moving averages, RSI, and MACD.
I found the platform well-designed, with charts centrally focused and watchlists and trade tickets conveniently placed on the outside. This allows you to concentrate on the market action without distractions. Unlike other proprietary platforms, I found the ability to customise the layout to suit my preferences a nice touch.
One feature that stood out was the automated Pro Trend lines, which generate major and minor support and resistance levels based on recent price action. This tool can be particularly helpful for new traders in analysing their charts more efficiently.
Additionally, the pattern recognition tool is another useful feature for day traders and beginners, assisting in finding new trading opportunities throughout the day.
Like TradingView, the Spreadex platform does not offer the ability to fully automate trading strategies. However, unlike TradingView, it does not provide semi-automated options either, which may be a drawback for some traders who prefer a more hands-off approach.
Spreadex allows you to connect your spread betting account to both TradingView’s and Spreadex platform mobile apps, available on iOS and Android.
I found the Spreadex mobile app to have most of the same features as the web platform, enabling me to easily manage my trading account and find new trades on the go. However, it does lack some of the main features discussed earlier, such as the trend line and pattern recognition tools, making the web platform more suitable for in-depth technical analysis.
TradingView’s mobile app is similar, with some of its top features restricted on mobile devices. However, I still had access to all the same 100+ indicators and drawing tools while on the move.
Interestingly, I discovered I could access the restricted features by logging into either platform through Safari or Chrome on my mobile device. This workaround provides a way to access these tools on mobile, just not through the dedicated app.
The main advantage I found with mobile trading apps is the ability to receive push notifications at price levels of interest. This feature allowed me to react quickly to market movements while away from my desk, which I found particularly useful.
During my review, I found Spreadex’s execution speeds impressive, thanks to the broker’s Market Maker execution model.
While testing both platforms, I didn’t experience any issues with execution speeds or orders getting rejected. In fact, as part of Spreadex’s best execution policy, if I were to request a price worse than what they are receiving from the market maker, they would reject my request and offer me a better price. This policy ensures you always get the best prices when trading with Spreadex.
Verdict On Spreadex Trading Platforms
I like that Spreadex has options for trading platforms, as most other brokers don’t give you a choice. Both TradingView and Spreadex trading platforms focus heavily on advanced charting features, which will appeal if you use technical analysis. In fact, I think Spreadex is the best spread betting broker for TradingView overall.
Yes, Spreadex Ltd. is a safe and reliable broker. It is regulated by the Financial Conduct Authority (FCA) and the Gambling Commission in the UK. The broker has also been established for over 20 years and has over 60,000 traders using its services.
The Financial Conduct Authority regulates Spreadex and provides a licence to offer financial services to retail traders in the UK. The FCA’s strict oversight ensures that Spreadex adheres to high standards of financial conduct and client protection. I think this regulation provides several benefits for traders like myself:
I’ve found that Spreadex has built a solid reputation over the past two decades. Their recent accolade as the “Best Spread Betting Provider” by ADVFN in 2024 is particularly impressive. It’s worth noting that they’ve consistently won awards since 2016, which speaks volumes about their sustained quality of service.
In my opinion, the broker’s success in attracting 60,000 traders over 20 years reinforces its reputation and customer satisfaction with its services. I believe this growth and longevity in the competitive spread betting market highlight its strong reputation.
I always check customer reviews on TrustPilot to gauge a broker’s “real-world” reputation. Spreadex has an impressive 4.6 out of 5 rating on the platform, based on 106 reviews in the UK, earning them an “Excellent” rating. The high concentration of positive reviews indicates that most of Spreadex’s clients are satisfied with the services provided. This feedback from real users further solidifies my confidence in the broker’s trustworthiness.
Verdict on Spreadex’s Trustworthiness
Spreadex has proven to be a trustworthy broker, being regulated by the FCA and supported by its large customer base with overwhelmingly positive reviews. The broker’s reputation is backed up by the industry, achieving multiple awards from ADVFN in 2024.
Spreadex offers a good mix of traditional and modern funding methods. They provide secure and speedy options like debit cards and bank transfers, which I appreciate for their reliability. I was also pleased to see Apple Pay as an option, adding a convenient touch for those using Apple devices.
I was impressed to discover that Spreadex has no minimum initial deposit requirement. This low threshold is an advantage, in my opinion, as it allows traders of all levels to start with an amount they’re comfortable with.
I believe this flexibility is beneficial if you are new and might want to test the waters without committing a large sum upfront.
When it comes to account-based currencies for spread betting, I found that Spreadex offers a decent selection. They primarily use GBP, which is expected given their UK focus but they also support USD and EUR as base currencies for your account.
I found that Spreadex provides several payment methods for depositing funds into your account. These include debit and credit cards, bank transfers, and Apple Pay if you’re using an Apple device.
During my testing, I tried the Apple Pay and debit card options and was pleased to find that the deposits went through instantly, allowing me to start trading immediately. Moreover, no deposit fees were associated with these methods, which is always a plus.
When it came to withdrawing my funds, I was impressed with the speed of the process at Spreadex. In most cases, withdrawals can be processed within just two hours, faster than most brokers, who can take 24 hours to approve your withdrawal. Opting for a bank transfer may take longer, typically arriving back in your account within two working days.
The only slight drawback is that Spreadex has a minimum withdrawal amount of £50, so if you only want to withdraw £25, you’ll have to withdraw the full £50. However, this is likely in place to help save on administrative and banking processing fees, which is how they can offer such fast and free withdrawal methods.
Opening an account with Spreadex was a straightforward online process for me. Due to FCA requirements, all spread betting brokers must ask standard questions about your market knowledge, risk tolerance, and financial/employment details.
The process took me about 10 minutes to complete, and I was approved within an hour of sending my verification documents, which I consider a great turnaround time.
Verdict On Spreadex Funding
The broker offers multiple, secure, fast deposit methods with no minimum deposit required, allowing you to deposit the amount of funds you are happy to risk (no matter how small). Funding and withdrawing speeds are some of the fastest in the industry, which is why I think Spreadex does an excellent job in this category.
64% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Spreadex is a multi-asset spread betting broker offering an impressive 10,000 financial spread betting markets. The broker’s extensive range covers forex, commodities, indices, shares, ETFs, bonds, options, and sports spread betting.
I found Spreadex’s forex offering decent, with over 70 currency pairs available, including majors, minors, and exotic pairs. I liked the inclusion of forex futures on major pairs like EUR/USD, which is excellent for longer-term spread betting as you pay a wider spread but avoid overnight fees.
Providing futures offers an opportunity to speculate on intraday markets and longer-term bet ideas, which few brokers offer.
Spreadex provides access to 12 spot commodities, including gold, silver, oil markets, and soft commodities like coffee and sugar. Additionally, the broker offers commodity futures markets, totalling 26 markets.
I was pleased with Spreadex’s 17 indices on major global stock indices, such as the FTSE 100. This range is in line with most other brokers I’ve reviewed. However, what sets Spreadex apart is its offering of futures markets for indices, totalling 31 indices markets.
This feature allows for betting on indices over longer periods, which I found beneficial for implementing more extended trading strategies without worrying about daily financing charges.
Spreadex offers access to thousands of share markets across 15 stock exchanges, including US, UK, and European markets. I found it interesting that the broker focuses on IPOs and AIM stocks (small cap), providing unique trading opportunities compared to other brokers tested.
The potential for tax-free profits on these markets, especially for UK traders, adds an extra layer of appeal to their share offering.
I was impressed by Spreadex’s selection of over 200 ETFs covering various sectors, from commodity-tracking gold to specific sectors like banking and finance. The broker’s ETF offering allows you to bet on professional funds tracking and outperforming different market sectors, which is cheaper than doing it yourself.
In my testing, I found Spreadex’s bond offering to be solid. It has 13 markets covering European, UK, and US bonds, including popular options like Euro BUND, UK Gilt, and US T-Bonds.
I found Spreadex’s offering of 6 American-style option markets covering major indices like S&P 500, FTSE 100, NASDAQ, and DAX 40 to be a valuable addition. The ability to request options on other markets like gold and shares by calling the Spreadex trading team is a bonus, providing flexibility for more advanced traders.
As an all-in-one platform, I found Spreadex’s sports spread betting offering a standout feature. There’s no shortage of opportunities, with over 10,000 sports markets across various sports like football, tennis, and golf.
The inclusion of in-play spread betting adds an extra layer of excitement and potential for those who enjoy real-time action through the live-streaming service of the event Spreadex makes available.
Verdict On Spreadex Trading Products
I found Spreadex to offer one of the largest ranges of trading products, with a choice of 10,000 financial markets (plus thousands more sports spread betting markets). Based on my findings, Spreadex is certainly one of the best if you want access to multiple assets, especially if you want to bet on AIM and IPO markets.
During my review, I had a great experience with Spreadex’s customer service. I primarily used their Live Chat support, which is available 24/5 for all clients. Whenever I reached out with questions, the support team responded swiftly and provided helpful answers.
I appreciate the convenience of having round-the-clock assistance, as it ensures I can get help whenever I need it, regardless of the time.
Alternatively, Spreadex offers phone support for faster assistance. However, the customer support team is only available via phone from 8 a.m. to 5:30 p.m. UK time.
You’ll need to rely on Live Chat or the Help Centre for self-service outside these hours. While the limited phone support hours might be a drawback for some, I found the Live Chat and Help Centre sufficient for most of my needs.
One aspect I particularly liked was the comprehensive Help section on its website. It’s well-organised and allowed me to quickly find answers to many common questions without needing to contact support directly.
Verdict On Spreadex Customer Service
Spreadex customer service is impressive. The 24/5 live chat support is excellent, dealing with human agents and not bots, which is one of the reasons I rate Spreadex highly. On top of that, the phone support is impressive (although limited hours), and access to an expert on the phone ensures your questions are resolved quickly.
Spreadex offers a solid combination of in-house market analysis and an educational hub, providing valuable resources to enhance your knowledge and find new trading ideas.
Spreadex Market Analysis
I found Spreadex’s in-house market analysis to be a valuable resource. Their team of analysts covers the latest market news and data releases, offering in-depth commentary supported by charting and data tables from multiple sources.
One thing I appreciated was the multiple updates, such as the Daily Market Update and Weekly Technical Analysis.
These periodic updates give you a heads-up on what to look for in upcoming trading sessions while inspiring new views for trading opportunities that may have been overlooked. The objective and insightful analysis provided by Spreadex’s analysts is a great tool for traders looking to stay informed and make well-informed trading decisions.
Spreadex Education Hub
The Spreadex Education Hub is a decent resource if you’re looking to expand your knowledge. I found the 35 web-based lessons informative. Although I would have appreciated the inclusion of video content, the explanations were excellent, with helpful diagrams that simplify complex concepts.
I enjoyed the humour injected into the lessons, which made the learning experience more engaging. The Hub covers various topics, from the basics of spread betting and using Spreadex’s platform to advanced trading strategies and risk management.
Spreadex Demo Account
One aspect that surprised me was the lack of a demo account. Offering no demo account is unusual for a spread betting broker, and I found it to be a drawback as you cannot test the broker’s services or platform before committing to a live account. As an experienced trader, I always recommend testing a platform before committing real money, and the absence of this option at Spreadex is disappointing.
Verdict On Spreadex Research and Education
I think Spreadex provides a decent research service, with analysis and commentary that is easy to follow and valuable information, unlike others who regurgitate Bloomberg news.
While lacking videos, the Education Hub offers well-written and comprehensive lessons that I think new traders may enjoy learning from.
Spreadex provides an excellent blend of some of the top services I’ve experienced in my testing. Its spreads are competitive, if not better than most brokers I’ve tried, averaging 0.9 pips on EUR/USD. As for markets, the broker offers a strong collection of 10,000 markets covering typical markets like forex and stocks and advanced products like futures and options markets. If you fancy a bet on sports markets, you can do that with Spreadex, combining both forms of spread betting with one company.
You can use TradingView or its Spreadex Web Trader platform. Both have access to the full suite of markets while offering excellent charting tools. The Spreadex platform, in particular, offers advanced tools like automated Pro Trend Lines and pattern recognition, helping make technical analysis easier.
On top of these excellent features, I found the broker’s operations for deposit and withdrawal to be fast and customer service to be one of the best I’ve used.
64% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Spread betting on Spreadex is a form of financial trading where you speculate on the price movement of various markets without owning the underlying asset. You can profit from both rising and falling markets, with potential gains or losses based on how far the market moves in your predicted direction. One key advantage of spread betting is that it is exempt from capital gains tax and stamp duty, helping you save money if you are a profitable spread bettor.
Sports spread betting is wagering on the outcome of a sporting event where profits or losses are based on the accuracy of your bet. You bet on whether a specified outcome will be above or below a ‘spread’ offered by the bookie, with winnings or losses determined by how far above or below the spread the outcome finishes.
Yes, Spreadex offers a mobile app for iOS and Android devices with TradingView and its proprietary Spreadex platform. The Spreadex betting app allows you to bet on thousands of financial markets on the go, including indices, shares, FX, and commodities. It features advanced charting, price action tools, and price alerts that offer a user-friendly interface with easy access to the tools, improving the user experience on a mobile device.
Spreadex offers spread betting on various markets, including indices, shares, forex, commodities, options, ETFs, bonds, and interest rates. It also provides sports spread betting on various sports, such as football, horse racing, cricket, snooker, and rugby, as well as in-play spread betting on live markets through its sportsbook. With tennis tournaments and Premier League football betting being the most popular betting options punters use with Spreadex sports.
The difference is that financial spread betting involves speculating on price movements of financial markets, while sports spread betting allows wagering on various aspects of sporting events. Both services use the spread betting model, but they cover different types of markets, and profits are tax-free from capital gains tax.
The main difference is that with fixed odds betting, your potential profit or loss is ‘fixed’ by the odds offered by the bookmakers. For example, if you had a bet with fixed odds of 2 to 1 and bet £10, your maximum win the bookie will payout is £20. In spread betting, your profit or loss is a multiple of your stake based on how far the outcome differs from the spread, giving you unlimited upside potential. Spread betting offers potentially higher profits but also higher risks.
As a retail trader, you cannot spread bet crypto (or crypto CFDs) in the UK, as the FCA restricts this functionality with brokers. If you want to speculate on crypto markets, you need to be either a professional trader or buy and sell on crypto exchanges.
Ask an Expert
How fast is trade execution on SpreadEx’s platform?
Trade execution on SpreadEx’s platform is fast, ensuring minimal delay during high-volume trading times.
Can I use SpreadEx’s platform on mobile devices?
Yes, SpreadEx offers a mobile app, allowing traders to manage their accounts and trade from mobile devices.
How does SpreadEx’s platform perform for spread betting?
SpreadEx’s platform performs well for spread betting, offering a solid and user-friendly experience for traders.