- GENERAL INFORMATION
- FUNDS TRADING AND SECURITY
- TRADING ACCOUNTS
- TRADING CONDITIONS
- TRADING PLATFORM
- SPREADEX’S TRADING PRODUCTS
- CUSTOMER SERVICE
New Broker on the Horizon: SpreadEX
Although the firm has been in business for a while, it never stopped moving forward and innovating. As such, it has managed to avoid the trap most established companies fall in. You’ll often see a firm that stops updating its services, which leads to newer competitors with fresh ideas simply overtaking it. SpreadEX didn’t let that happen, always following shifts in the finance world and online brokerage services. That, coupled with a robust integral service, allowed them to gather and maintain a loyal userbase.
Especially in the finance world, keeping a loyal customer base for a prolonged period is quite a feat. In recent times, brokerage services have been continuously revolutionized, with many firms falling into obscurity. Only the sharpest and quickest to innovate and accommodate customers survive, as traders will gladly jump to a different service if they’re dissatisfied with what they are receiving. That’s simply a downside that the variety of choices on the internet brings online brokers.
As such, SpreadEX has already impressively accumulated experience, and continued success tells us a lot about the firm’s quality. That much is apparent even when you open up the broker’s website. You can see the blend of old and new in their air-tight, slightly retro design. Everything runs smoothly, and the information you need to know is never more than a few button presses away. The company also avoided the usual mistake of informational overload, cutting out or separating a lot of excess info.
However, all that would fall apart if the overall trading experience wasn’t satisfactory. Luckily, the broker ensured that it would provide cutting-edge conditions for its customers. Let’s inspect some of their key features before analyzing further:
- ASSET DIVERSITY
While many traders consider a comprehensive asset library to be a luxury feature, having a bigger trading product pool to choose from also has practical uses. Greater choice diversity, for example, leads to higher average choice quality. There are bound to be more top-quality assets when there are more instruments, in general, to pick from. Also, many experts consider diversification a crucial safety strategy any aspiring trader should master. Diversifying is naturally much simpler when you have a wide array of assets to buy or sell.
- AMAZING BEGINNER EXPERIENCE
SpreadEx has ensured that newer traders, or even people trying trading for the first time, have a smooth entrance into the finance world. There are multiple reasons for that, the first being the comprehensive learning materials. They start from the ground and move upwards slowly, building essential trader skills. Beyond that, there’s the unusually low live account cost, starting at less than a dollar. Naturally, that’s an advantage for traders of all skill levels, but especially so for those still unsure whether they’ll enjoy or be good at trading.
- DETAILED ANALYSIS
The broker didn’t leave experienced traders out of the equation, providing them with a wealth of analytical tools and sources. SpreadEX provides a regularly-updated and detailed coverage of markets and important events. On top of that, they have tools that help you learn analysis basics and conduct your independent investigation. When making predictions, it’s always wise to check multiple sources, but for a broker, SpreadEX’s analytical outlets are definitely far above average.
Funds Trading and Security
Security is one of the primary concerns anyone should have when finding a new brokerage to begin working with. Even the best service is only one misstep from the brokerage away from turning into a miserable one. The safety issues have been boosted even further with the recent increase in new traders. As more novices enter the finance world, scams are trying to exploit their inexperience increase as well.
However, we’re confident in saying that SpreadEX doesn’t fall into that group and is adversely one of the most trustworthy firms on the market. We aren’t just saying that on a gut feeling either, as the company has regulation and past behavior patterns to back that up. The broker operates under the UK’s FCA, which is famous as one of the most stringent watchdogs worldwide. Even recently, they’ve had a burst of regulatory activity, fining and blacklisting a multitude of misbehaving brokers.
The license on its own wouldn’t be enough to convince us in the broker’s well-intendedness entirely. There have been multiple cases in the past of brokers slipping through loopholes or license givers turning a blind eye to foul play. However, SpreadEX’s history shows us that they are among the most customer satisfaction-focused brokerages out there.
Traders are content with what the broker provides and how it interacts with them. Additionally, the firm often makes compromises even though customers were technically at fault. That shows a level of individual appreciation that most brokers have stopped showing since online financial trading made it into the mainstream.
SpreadEX Account Opening Process
As a top-notch broker, SpreadEX is pushing the limits of the old online service technology. The brokerage has created an easy account opening system. It only takes a couple of the most straightforward steps: filling an online application and waiting to confirm the approval. So, we’ve already stated in our SpreadEX review, opening a live account requires nearly no time investment. Double click and you are ready to go!
One of the most notable things is that the trading experience is equal across the board. As the broker offers fair usage of one standard account, it provides—the account has all the possible featurettes and instruments that any type of broker would need. Moreover, traders will not need to worry about features locked behind different accounts or other specifications made worse to force upgrades.
The single account type that SpreadEX offers means that the broker is all for fair use and does not need to stagger its services. Having one ultimate account variation eliminates any financial motivation behind having a weaker service, which adds up to the broker’s strength to provide the best services to its clients.
SpreadEX Trading Market & Products
In our reviews, we always try to pay close attention to the range of markets that the broker provides, as it shows how much of the freedom the client can have in their everyday trading menageries.
SpreadEX offers a wide range of financial markets, including indices, shares, forex, commodities, EFTs, interest rates, bonds, Cryptocurrencies, options, and Speed Markets.
However, the broker specialized in spread betting more. Spread betting is much more uncommon in online brokerages. Please do not fret; even though it is something quite rare to the trading activity, spread betting is based on the difference between buying and selling price, also called an ask and bid. In case you want to find out more about spreads, SpreadEX has provided excellent educational explanations on its website, so in case you need to, check it out!
Overall conditions, they are quite good. We were quite pleased to see what the broker had to offer.
- Fast execution
- Great proprietary platform
- Good spreads
- Variety of assets
- Very responsive customer support
The broker provides a leverage rate of 1:200. The spreads of different assets are fixed and tight. In conclusion, we must say that the company is willing to cooperate with clients through feedback. Thus, they have played at the top of their game and showed true devotion and determination to their customers.
SpreadEX review: Trading Platform
The broker offers a fully-customizable, fast, and reliable proprietary platform on the web, iPad, iPhone, and Android. The platform provides advanced order executions, advanced charting, and price alerts.
Here are some of the features offered by the broker:
- Spread bets and CFDs from one account
- Price Alerts by text, push, or email
- Fast and fair execution
- Macro-data directly available on charts
- Automated Pro Trend lines and Pattern Recognition
- Extensive price history of over ten years
- Guaranteed stops
- One-click dealing
Moreover, there are also mobile trader versions for the iPhone, iPad, and Android devices. The platform is easy to access anywhere you are as long as you have wi-fi connection or mobile data.
Last but not least comes customer service. SpreadEX Customer Support offers three ways to reach them: via email, live chat, and phone calls. The broker has two phone lines: one free-of-charge, and the international one for non-UK traders.
Phone number: +44 1727 895 000
Email: [email protected]
You can access the live chat through the broker’s website. Our team has checked all three communication sources, and the customer service answered us right away.
SpreadEX What do we think?
So what can we say as our ultimate conclusion? We think SpreadEx is quite an impressive broker. It is quite rare to see such an astoundingly reliable, experienced, and modern broker, functioning correctly in the financial market.
The amount of hard work that they put in their functionality and spread trading is marvelous.
However, before you decide what to do, make sure to go ahead, and do your research. After all, you’ll be trading with your own hard-earned money and always better be safe than sorry.
- Trading Instrument