Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

BrokerDNA

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

SpreadEx
8.7 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT SPREADEX
XTB
10 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT XTB
AvaTrade
9.7 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT AVATRADE
About

SpreadEx is regulated by the Financial Conduct Authority. SpreadEx have provided Forex, CFDs, and spread betting services since 1999.

XTB is regulated by the Financial Conduct Authority. XTB have provided Forex, CFD, and social trading services since 2002.

AvaTrade is regulated by the Central Bank of Ireland, ASIC (Australia), FSA (Japan), FSB (South Africa) and BVI. AvaTrade have provided Forex trading services since 2006.

Why choose them?
  • Yes Over 19 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 16 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, KNF, and CMB.
  • Yes Over 12 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Central Bank of Ireland, ASIC, FSA, FSB and BVI
Headquarters St Albans, UK Level 34, One Canada Square, Canary Wharf, E14 5AA, London, UK Dublin, Ireland

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes Yes Yes
CFD Yes Yes Yes
Spread Betting Yes No Yes
Social Trading No No Yes
MARKETS & INSTRUMENTS
Forex (currency pairs) 51 48 59
Commodities Offered 16 21 16
Stocks Offered 1000 1606 99
Bitcoin Yes Yes Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes Yes Yes
Penny stocks Yes Yes No
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals Yes Yes Yes
FTSE Yes Yes Yes
Dow Jones Yes Yes Yes
Dax Yes Yes Yes
Nikkei Yes Yes Yes
ETFs Yes Yes Yes
IPO Yes Yes Yes
See all instruments

67% of retail investors lose money when trading spread bets and CFDs with this provider.

See all instruments

77% of retail investor accounts lose money when trading CFDs with this provider.

See all instruments

71% of retail investor accounts lose money when trading CFDs with this provider.

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 No Yes Yes
MT5 No No Yes
MT4 Mac No Yes Yes
WebTrader Yes Yes Yes
Mirror Trader No Yes Yes
ZuluTrade No No Yes
Sirix No No No
cTrader No No No
PAMM No No No
Custom Platforms Spreadex Xstation5 AvaTradeAct, AVAOptions

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image No Yes No
Available Languages

English

English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian.

English, Italian, German, French, Greek, Hebrew, Spanish, Arabic, Malay, Russian, Chinese, Portuguese and Dutch

See platform & features

67% of retail investors lose money when trading spread bets and CFDs with this provider.

See platform & features

77% of retail investor accounts lose money when trading CFDs with this provider.

See platform & features

71% of retail investor accounts lose money when trading CFDs with this provider.

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by SpreadEx and XTB

Demo account Yes Yes Yes
Mini account No Yes Yes
Micro account No Yes Yes
Standard account Yes Yes Yes
ECN Account No No No
Islamic account No Yes Yes
Zero spread account No No No
VIP account No Yes Yes
Fixed spreads Yes Yes Yes
Variable spreads Yes Yes Yes
See account options

67% of retail investors lose money when trading spread bets and CFDs with this provider.

See account options

77% of retail investor accounts lose money when trading CFDs with this provider.

See account options

71% of retail investor accounts lose money when trading CFDs with this provider.

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) No Yes Yes
Virtual private server No No No
Direct market access No Yes Yes
STP broker No Yes No
Market maker Yes Yes Yes
Min trade 0.01 Lot 0.01 Lot 0.01 Lot
Max trade Variable 100 Lot None
Min deposit $1 $1 $250

RISK MANAGEMENT

Stop losses Yes Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes Yes Yes
Price alerts Yes Yes Yes
Signal trading No Yes Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No Yes Yes
Neteller No Yes Yes
Skrill Yes Yes Yes
Payment processing time Varies Same day if requested before 1PM Varies
Withdrawal processing time Varies Same day if requested before 1PM Varies
See all funding options

67% of retail investors lose money when trading spread bets and CFDs with this provider.

See all funding options

77% of retail investor accounts lose money when trading CFDs with this provider.

See all funding options

71% of retail investor accounts lose money when trading CFDs with this provider.

DETAILED INFO

Excluded countries US,IN,PK,BD,IQ,IR,IL,AF,AU,CA US,IN,PK,BD,IQ,IR,IL,AF,AU,CA BE,BR,NZ,US,KE,IN,GH
Contact email Send Email Send Email Send Email
Phone number 44 (0) 1727 895 000 44 2036953085 (44) (0) 8005200423
Live Chat No Yes Yes
Website https://www.spreadex.com/ www.xtb.com http://www.avatrade.com/
Spreads:
EUR/USD (Average: 0.7 pips) 1.0 pips 0.1 pips 1.3 pips
GBP/USD (Average: 1.1 pips) 0.9 pips 0.1 pips 2.0 pips
USD/JPY (Average: 1.1 pips) 0.7 pips 0.1 pips 1.5 pips
AUD/USD (Average: 0.8 pips) 0.6 pips 0.2 pips 1.8 pips
USD/CHF (Average: 2.3 pips) 1.5 pips 0.2 pips 2.0 pips
USD/CAD (Average: 2.9 pips) 1.7 pips 0.3 pips 2.5 pips
NZD/USD (Average: 3.6 pips) 2.0 pips 0.3 pips 2.8 pips
EUR/GBP (Average: 2.4 pips) 0.9 pips 0.1 pips 2.0 pips
View all spreads

67% of retail investors lose money when trading spread bets and CFDs with this provider.

View all spreads

77% of retail investor accounts lose money when trading CFDs with this provider.

View all spreads

71% of retail investor accounts lose money when trading CFDs with this provider.

FEES

Inactivity Fee No No No
Commission No Yes No
Deposit Fee No No No
Withdrawal Fee 0, minimum £50 No No
View All Fees

67% of retail investors lose money when trading spread bets and CFDs with this provider.

View All Fees

77% of retail investor accounts lose money when trading CFDs with this provider.

View All Fees

71% of retail investor accounts lose money when trading CFDs with this provider.

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Last update

All information collected from https://www.spreadex.com/. Last updated on 01/10/2019.

All information collected from www.xtb.com. Last updated on 01/10/2019.

All information collected from http://www.avatrade.com/. Last updated on 01/10/2019.

Company

Spreadex is a leading provider of spread betting services and have captured an estimated 10% of the financial spread betting market. Spreadex understand the importance of security and trust and therefore all client funds are held in a segregated Barclays bank account in accordance with the Financial Conduct Authority, whom they are regulated by. Spreadex is perfect for those that are looking for an established and trusted spread betting broker.

For more information about trading with Spreadex, we have put together an indepth Spreadex review with all the pros and cons about this broker.

XTB provides hyper fast execution and facilitates seminars with external professional traders, providing personalised education depending on your individual circumstances.

XTB operates with two factors in mind; to provide traders with the fastest execution speeds and to be the most transparent broker on the market, which is reflected by the services and products they provide.

XTB also have a dedicated education area - the Trading Academy - which contains material to help you become a better trader, including video tutorials, trading courses, articles and much more to improve your skills at every step of your trading journey.

If you are looking for a broker that is regulated by the Financial Conduct Authority and focuses on transparency, fast execution speeds and customer service, XTB is a great option.

For more information about trading with XTB, we have put together an in-depth XTB review covering the pros and cons of this broker.

Since 2006, Avatrade have attracted over 20,000 traders to their platform. While their spreads are not the most competitive, they do offer traders a range of great features, such as guaranteed stop losses, the ability to hedge / scalp, and low margins.

For more information about trading with AvaTrade, we have put together an indepth AvaTrade review with the pros and cons about this broker.

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SpreadEx or XTB?

Well established or access to MT4?

If you’re a trader looking for a broker that has been established for a long time, SpreadEx is likely a good choice. However, if you want a broker that offers MetaTrader4 as a trading platform, XTB may be more suitable.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider SpreadEx to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

SpreadEx and XTB are both regulated by Financial Conduct Authority

As the Financial Conduct Authority are one of the most stringent regulators in the world, both SpreadEx and XTB will have very strict guidelines to follow to ensure they protect their retail trader clients.

AvaTrade are regulated by Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

SpreadEx has been around for 20 years, while XTB have been around for 17 years. Our third alternative broker, AvaTrade, have been around for 13 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both SpreadEx and XTB use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

We’re not aware of any penalties or fines imposed by regulators on SpreadEx or XTB in the past five years.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

XTB is more popular with over 230,000 traders.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both SpreadEx and XTB are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

SpreadEx are based in St Albans, UK, while XTB are based in Level 34, One Canada Square, Canary Wharf, E14 5AA, London, UK .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both SpreadEx and XTB offer forex trading. SpreadEx have a slightly larger variety of currency pairs with 51 pairs, compared to 48 offered by XTB. Also, if you’re looking to trade cryptocurrencies, SpreadEx offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

Both SpreadEx and XTB allow you to trade commodities like gold, silver and crude oil.

Platforms & Account Types

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. XTB, for example, offer a mini account, standard account and VIP account.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

SpreadEx does allow scalping and hedging. While XTB also allows scalping and hedging. You can't trade with EAs (expert advisors) on SpreadEx but you can trade EAs (expert advisors) with XTB.

In terms of risk management tools, SpreadEx doesn't offer negative balance protection, but XTB does. Negative balance protection prevents you owing your broker more than you’ve deposited.

SpreadEx also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

SpreadEx accept Skrill while XTB accept Paypal.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, SpreadEx charges 0.60 points, while XTB charges 0.20 points. Therefore, XTB is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: SpreadEx or XTB?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, SpreadEx is more reliable based on our criteria above. SpreadEx has a wider range of instruments to trade. SpreadEx offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.