|Operating since year:||1999|
|Address:||Freepost RRRS-GTBG-HGZB, SpreadEX Ltd., Churchill House 26-30, Upper Marlborough Road, St Albans, Hertfordshire, AL1 3UU|
|Phone:||+44 1727 895 000|
|Availability:||Mon - Sun 8 AM - 5:30 PM|
|The Trading platforms:||Proprietary|
|Trading platform Time zone:||-|
|Other trading instruments:||Commodities, Indices, Stocks|
|Minimum deposit ($):||$0.01|
SPREADEX REVIEW CONTENT:
- GENERAL INFORMATION
- FUNDS TRADING AND SECURITY
- TRADING ACCOUNTS
- TRADING CONDITIONS
- TRADING PLATFORM
- SPREADEX’S TRADING PRODUCTS
- CUSTOMER SERVICE
- SPREADEX REVIEW: CONCLUSION
New Broker on the Horizon: SpreadEX
SpreadEx: General Information
SpreadEX is a multi-purpose company with a total of two decades of experience behind it. It first started providing brokerage services in 2011, with an iPhone app release. Since then, the broker section has become a mainstay, showing consistent and rapid development. The company operates from the United Kingdom, specifically Churchill House 26-30, Upper Marlborough Road, St Albans, Hertfordshire, AL1 3UU.
You shouldn’t assume that the brokerage is outdated just because it’s been around for quite a while. If anything, SpreadEX has done a fantastic job at following innovations and is indistinguishable from newer brokers. The constant changes have allowed it to maintain its sizable userbase and keep customers satisfied. Additionally, the changes have allowed the firm to throw its numerous years of experience into the mix and create something unique.
SpreadEX did an outstanding job at staying on top of the rapidly-changing brokerage world, and as such, stands out as one of the most established online brokers. To maintain a userbase over such a long period is quite a daunting task, and should be commended. It’s a mark that the broker didn’t only provide top quality services, but was adaptive enough to meet ever-increasing trader expectations. You are probably aware that traders won’t hesitate to switch online brokers as soon as they’re slightly dissatisfied. As such, SpreadEX’s loyal userbase is a badge of service quality and trustworthiness.
However, being a stable and trustworthy broker isn’t enough to keep an audience interested for long. To keep customers coming, you need to provide a stellar trading experience. SpreadEX does just that, with a set of top-notch trading and various conditions. Here are some of the broker’s best features at first glance:
The broker takes care of both veterans and newbies simultaneously, making it great for everyone. The starting cost is less than a dollar, making it so anyone can try it out without making a dent in their budget. Additionally, there are many educational materials meant for inexperienced brokers, allowing them to grasp core trading concepts quickly. For those that are more self-sufficient already, there’s a plethora of analytical tools and sources they can use to gather the info they need to make precise market predictions. Brokers often overspecialize in one side or another, so seeing SpreadEX’s versatility is quite welcome.
The variety of assets at SpreadEX is, undoubtedly, one of the broker’s greatest strengths. Not only does that make for a less tedious trading process, but it also has multiple practical advantages. Firstly, the greater choice variety pairs with better average choice quality, as more top-notch assets are present. Additionally, it makes grasping portfolio diversification, a skill many experts deem necessary, much more straightforward.
Brokers that survive and remain relevant for as long as SpreadEX has are quite tricky to come by. Furthermore, those brokers are often hindered by their experience rather than helped by it. SpreadEX appears to be one of the rare brokers that can effectively utilize years of business knowledge to its own and its customers’ advantage. The firm still maintains the old-school approach of catering to each client individually and finding unique solutions instead of standardizing.
Funds Trading and Security
SpreadEX boasts an extensive set of security conditions that should easily set it apart from malicious brokerages. That’s especially crucial now, with the COVID-induced increase of new traders, as the number of exploitative brokerages has increased as well. Security should be a trader’s primary concern, as the finance world is stacked with risk. Introducing another layer of trust in whether a broker will steal your money or not is merely unacceptable. As such, in judging broker safety, there’s not much room for flexibility.
And even with the most rigid judgment, SpreadEX should pass with flying colors. The broker operates under the UK’s FCA‘s eye, notoriously one of the strictest licensers globally. The watchdog is quite active, with multiple punishing irregular behavior cases even if you only look a few weeks back. As such, it’s quite challenging to slip by the regulator and get away with fraudulent activities.
However, some traders have become untrusting of licensers recently. There have been times in the past where phony brokerages have been operating with a valid license for a while before getting busted. So, it’s essential to take a look at SpreadEX’s past customer interaction. However, opposing to most competitors, that’s where the broker shines the brightest.
You don’t need to look far to see cases where SpreadEX took financial hits to rectify issues caused by customer mistakes. The firm seems to understand its clients, willing to fix problems caused by their confusion or misunderstanding. Additionally, a look at its history reveals that it’s had no broader issues. The blend of technical and practical safety measures paints a pretty picture of SpreadEX, as a broker that puts customer safety and satisfaction first.
Trading Accounts at SpreadEX
Accounts can be a contentious issue when visiting brokerages. Two common revenue-increasing tactics have become common. The first puts up a high price on an initial live account type, making traders invest multiple hundreds before even knowing what they’re getting into. The second is intentionally weakening cheaper account types so that you need to pay more to achieve a decent service. Although in our SpreadEx review we consider both these practices borderline predatory, they’ve managed to become the norm.
However, the broker manages to avoid both with ease, simultaneously providing account variations for both newer and more experienced traders. As we mentioned earlier in our SpreadEX review, the cost to start you off is less than a dollar, so there shouldn’t be any mention of high prices. As for the second practice, the broker avoids it by not having investment-based account tiers at all.
Instead, SpreadEX has two accounts that are available no matter how much you plan on putting in. The retail version is the default, targeting newer traders. It has limited leverage and a set of risk mitigation features, preventing inexperienced customers from getting too ahead of themselves. The other, pro version, can be attained through submitting additional documentation that proves you can hold your own. Besides drastically increasing leverage, it comes with a few extra features but entirely removes the training wheels.
Neither account is strictly better, and each trader should pick based on their skill, experience, and confidence. However, the account setup creates a remarkably fair playing field, where everyone can access everything. Here are some of the advantages the pro accounts brings with it:
- Trading on Credit
- Dedicated Services
- Trading Tools
- Lower Margins
As we said earlier in our SpreadEX review, you can’t survive for as long as it has without a world-class trading service. The broker offers the CFD trading everyone’s used to and a similar but more specific spread betting method. The second concept might be foreign to some, which is why the broker provided a detailed explanation of the entire process on its website. If you’re interested in a slightly less common trading method, we support trying out spread betting.
The overall conditions, however, don’t change according to the type you decide to go with. They remain fixed and are powerful enough to satisfy even the most seasoned traders. The leverage sits at a comfortable 1:200, which strikes an excellent balance between assistance when trading and not being too risky. Furthermore, the massive asset number ensures that nobody will be disappointed by a shortage of trading products.
Even as you move to secondary conditions, such as security, the broker keeps performing flawlessly. There’s also a nice variety when it comes to payment methods, meaning you’ll likely find your preferred one. The list goes on, as there aren’t any apparent weak points in the trading conditions.
Trading Platform Available at SpreadEX
While some traders might be disappointed to hear this, SpreadEX uses a proprietary platform. Custom trading software has earned a bit of a bad reputation by merit of shady brokers often using it. However, SpreadEX is different, putting a significant amount of effort into platform development. The result is a tech solution that can easily rival industry giants, such as MetaTrader4.
SpreadEX’s software comes in the web trader form by default, meaning you can log in and use it straight away from a browser. It’s also available for all the commonly used mobile devices, including iPhones, iPads, and Android phones and tablets.
SpreadEX’s Trading Products
Multiple times through our SpreadEX review, we’ve mentioned the asset count as a significant advantage. However, the selection might still be surprising to some, as the trading product collection includes over 15000 different options. That easily beats out most competitors, and by a significant margin at that. The assets are aptly split into categories, meaning each major trading product class will have a healthy selection. Here are the sections you can expect to see:
- Bonds and Interest Rates
SpreadEX’s customer service follows the usual broker formula of an active phone line, live chat, and email address. However, the broker beats out others because it works over the weekend, not only on workdays. Additionally, the firm has an international phone line, simplifying the communication process for non-UK customers.
Phone number: : +44 1727 895 000
SpreadEX Review Conclusion: A Guarantee of Satisfaction
SpreadEX stands out as a rarity in the brokerage world. It’s rare you come by an experienced broker that’s kept up with the time and managed to incorporate newer industry standards perfectly. Meanwhile, it maintains its status as entirely secure and enjoys a pristine reputation with customers.
The broker is a textbook example of a quality all-rounder service. Even if you attempt to find flaws, they are incredibly challenging to come by and likely minor. As such, we’re quite content in recommending SpreadEX to everyone, regardless of experience or skill level.