SpreadEx offer four ways to trade: Forex, CFDs, Spread Betting, Binary Options.
To open a live account, you’ll need a minimum deposit of at least $1. Alternatively, SpreadEx offer a demo account that you can use to practice and familiarise yourself with their platform.
Regulated by the Financial Conduct Authority, UK (FRN: 190941). SpreadEx puts all client funds in a segregated bank account and uses tier-1 banks for this. SpreadEx have been established since 1999, and have a head office in UK.
Before we dive into some of the more detailed aspects of SpreadEx’s spreads, fees, platforms and trading features, you may want to open SpreadEx‘s website in a new tab by clicking the button below in order to see the latest information directly from SpreadEx.
Open a demo account Visit SpreadEx
Full disclosure: We may receive a commission if you sign up with a broker using one of our links.
PROS
- Segeregates client funds
- Established in 1999
- Regulated by Financial Conduct Authority
- Min. deposit from $1
CONS
- Doesn't allow EA's (See alternatives)
- Not CySEC Regulated (See alternatives)
What are SpreadEx's spreads & fees?
Like most brokers, SpreadEx take a fee from the spread, which is the difference between the buy and sell price of an instrument.
The spreads displayed below are based on the minimum spreads listed on SpreadEx’s website. The colour bars show how competitive SpreadEx’s spreads are in comparison to other popular brokers featured on BrokerNotes.
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EUR/USD
Not offered $0 per lotThe average spread for EUR/USD across all brokers on BrokerNotes is 0.82 pips. See popular brokers for trading EUR/USD
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USD/JPY
Not offered $0 per lotThe average spread for USD/JPY across all brokers on BrokerNotes is 0.91 pips. See popular brokers for trading USD/JPY
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GBP/USD
Not offered $0 per lotThe average spread for GBP/USD across all brokers on BrokerNotes is 1.18 pips. See popular brokers for trading GBP/USD
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Bitcoin
Not offeredThe average spread for Bitcoin across all brokers on BrokerNotes is 41.15 pips. See popular brokers for trading Bitcoin
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Gold
0.4 PTSThe average spread for gold across all brokers on BrokerNotes is 8.62 pips. See popular brokers for trading gold
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DAX30
1 PTSThe average spread for DAX30 across all brokers on BrokerNotes is 14.95 pips. See popular brokers for trading DAX30
As you can see, SpreadEx's minimum spread for trading EUR/USD is N/A pips - which is relatively high compared to average EUR/USD spread of 0.82 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with SpreadEx vs. similar brokers.
See all SpreadsHow much does SpreadEx charge to trade 1 lot of EUR/USD?
If you were to buy one standard lot of EUR/USD (100k units) with SpreadEx at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $6. Here's a rough breakdown of the fees and how this compares against AvaTrade & Plus500.
| SpreadEx | AvaTrade | Plus500 | |
|---|---|---|---|
| Spread from: | $6.00 | $7.00 | $6.00 |
| Typical overnight fee: | $0.00 | $5.00 | $9.40 |
| Commission: | 0 | 0 | 0 |
| Total cost of a 100k trade: | $6 | $12 | $15.4 |
| $6.00 more | $9.40 more | ||
| Visit SpreadEx | Visit AvaTrade | Visit Plus500 |
All fees/prices are for informational purposes and are subject to change. Last updated: March 21, 2018.
What can you trade with SpreadEx?
SpreadEx offers over 15000 different instruments to trade, including over 51 currency pairs. We’ve summarised all of the different types of instruments offered by SpreadEx below, along with the instruments offered by AvaTrade and Plus500 for comparison.
| FX / Currencies | SpreadEx | AvaTrade | Plus500 |
|---|---|---|---|
| # of forex pairs offered | 51 | 59 | 61 |
| Major forex pairs | Yes | Yes | Yes |
| Minor forex pairs | Yes | Yes | Yes |
| Exotic forex pairs | Yes | Yes | Yes |
| Cryptocurrencies | Yes | Yes | Yes |
| Commodity CFDs | SpreadEx | AvaTrade | Plus500 |
|---|---|---|---|
| # of commodities offered | 16 | 16 | 17 |
| Metals | Yes | Yes | Yes |
| Energies | Yes | Yes | Yes |
| Agricultural | Yes | Yes | Yes |
| Indiced & Stock CFDs | SpreadEx | AvaTrade | Plus500 |
|---|---|---|---|
| # of Stocks offered | 1000 | 99 | 1816 |
| UK Shares | Yes | Yes | Yes |
| US Shares | Yes | Yes | Yes |
| German Shares | Yes | Yes | Yes |
| Japanese Shares | Yes | Yes | Yes |
| See SpreadEx's Instruments | See AvaTrade's Instruments | See Plus500's Instruments |
What's the SpreadEx trading experience like?
1) Platforms and apps
SpreadEx offer a user-friendly custom trading platform, available as both a downloadable program or as a broswer based WebTrader. If you are looking for a MetaTrader broker, see our comparison of MT4 brokers here.
See SpreadEx's Platforms
SpreadEx also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you’re on the move.
See SpreadEx's platforms2) Executing Trades
SpreadEx allow you to execute a minimum of trade of 0.01 Lot. This may vary depending on the account you open. SpreadEx allow you to execute a maxium trade of Variable.
As a market maker, SpreadEx may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically have larger capital and minimum trade requirements. Market makers typically have lower minimum deposit, smaller minimum trades requirements and no commission on trades.
As with most brokers, margin requirements do vary depending on the trader, accounts and instruments, but as a guide, SpreadEx offer margin up to 0.05% on currencies.
Finally, we’ve listed some of the popular funding methods that SpreadEx offers its traders on the right.
3) Client support
SpreadEx support a limited number including English
SpreadEx have a BrokerNotes A support rating because SpreadEx offer over three languages and email and phone support.
4) What you’ll need to open an account with SpreadEx
As SpreadEx is regulated by Financial Conduct Authority, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:
- A scanned colour copy of your passport, driving license or national ID
- A utility bill or bank statement from the past three months showing your address
You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.
While you might be able to explore SpreadEx’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.
To start the process of opening an account with SpreadEx you can visit their website here.
CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.spreadex.com/ on March 21, 2018.