- forex trading 3.8/5
- Top-tier regulation in the UK
- Long track record - founded in 1999
Our take on Spreadex
Spreadex is a UK CFD and Forex broker. Spreadex has low forex fees and low non-trading fees. It offers a user-friendly web trading platform covering the most commonly used search and order functions. Customer support is fast and helpful via all channels. On the flip side, Spreadex’s product portfolio is limited only to forex and CFDs, lacking popular asset classes such as real stocks. There is no desktop trading platform. Lastly, research tools are limited and the education section is very poor. BrokerChooser gave Spreadex a 4.4/5 rating based on analyzing 500+ criteria and testing via opening a live account.
S&p 500 CMD benchmark fee
Spreadex pros and cons
Pros
Cons
- Low forex fees
- Good Web platform
- Helpful customer service
- Thin product selection
- No desktop platform
- Limited research and education tools
Spreadex main highlights
🗺️ Country of regulation
Australia, Cyprus, Lebanon, Saint Vincent and the Grenadines, Vanuatu
💰 Trading fees class
Average
💰 Inactivity fee charged
No
💰 Withdrawal fee amount
$0
💰 Minimum deposit
$50
🕖 Time to open an account
1 day
💳 Deposit with bank card
Available
👛 Depositing with electronic wallet
Available
💱 Number of base currencies supported
12
🎮 Demo account provided
Yes
🛍️ Products offered
Forex, CFD, Crypto
Fees
Spreadex has low forex fees and low stock CFD fees, and it charges no inactivity fee.
Account opening
Opening an account at Spreadex is easy and straightforward, and involves no minimum deposit. However, account verification was a bit slow, taking us 2-3 business days.
Deposit and withdrawal
Deposit and withdrawal, via bank transfer or credit/debit cards, are quick and mostly free. However, the account currency selection is rather average.
Web trading platform
The Spreadex trading platform is user-friendly, with a good search function, clear reports and guaranteed stop orders. However, it lacks a two-step login and is available only in English.
Mobile trading platform
Spreadex has a well-designed and user-friendly mobile trading platform with a good search function, although it lacks advanced login options like two-step or biometric authentication.
Desktop trading platform
Spreadex does not offer a desktop trading platform.
Markets and products
At Spreadex you can only trade forex, CFDs, and spread betting. Popular asset classes such as real stocks, ETFs, or bonds are missing.
Research
Spreadex has good market analyses on its blog, but unfortunately this doesn’t make up for a lack of trading ideas, limited fundamental data, and a poor selection of analytic tools.
Customer service
Spreadex offers great customer service, with quick and useful responses especially over live chat. They are also helpful over the phone. On the down side, we missed 24/7 support.
Education
Spreadex has good platform tutorial videos, but little else in the way of educational material aside from a few basic articles and a glossary. There is also no demo account.
Safety
Spreadex is regulated by the top-tier UK FCA, involving strong investor protection; but it has no banking license, is not listed on an exchange, and financial information is not public.
