Company Review: Spread Co
Founded in 2006 and based in London, Spread Co offers online spreadbetting services to customers in a range of countries globally, including South America, UAE and Europe.
Spread Co is regulated by the Financial Services Authority and provides spreadbetting and CFDs. Here’s what you should know.
More on Spread Co
Spread Co offers a great choice of trading options, including, very shortly, a mobile application. Traders can select from either a web-based platform which enables account access from any computer or a downloadable version known as Saturn Trader. The mobile application, Saturn Mobile, is due for release soon.
Trading is offered from 10pm on Sunday evenings through to the same time on Friday night.
Markets available for spreadbetting include commodities, indices, equities and currencies. As well as daily bets, CFDs and Futures are also offered. Traders can either opt to open a live account immediately or start with a demo account to practise before risking any real cash.
The minimum stake size is 1 point and spreads start from an extremely competitive 0.5 for high-volume markets. The maximum permitted stake for these rates is £50 per point and above this the spread increases.
To place a trade a minimum deposit is required and this is calculated based on the size of the stake and the market being entered. Spread Co operates a system known as Notional Trading Requirement, which is the multiple applied to the stake to work out the deposit needed to open a position. As an example, the NTR starts from 12 on the indices market. If a guaranteed stop loss is attached to an order, the deposit required is calculated based on the maximum potential loss instead.
Spread Co does not have a minimum balance requirement to keep the account active but if insufficient funds are held to cover the specified NTR while positions are open, trades could be compulsorily liquidated.
To help traders manage their positions more effectively, Spread Co provides a number of different resources. These include a trading calendar and a live news stream as well as Market Commentary, a service which offers information on research and strategy.
Balances can be funded with either a credit or debit card or a bank transfer, although the latter could take up to three days to reach your Spread Co account. Debit cards accepted include Visa Delta, Electron and Maestro. Credit cards attract an additional fee of 2% of the transaction value.
Spread Co clients benefit from:
- Tight spreads from Just 0.8pts on EURUSD, UK100 and US30
- Extremely Low Financing Charges
- 0% financing charges on short index and equity positions
- Low Margins – Trade From As Little As £30
- Wide Range of Global Markets
- Powerful Platform and Free Charts
- Free Market Commentary and Live News
- A quick and easy account opening process
Spread Co is a privately held company based in North London and is authorised and regulated by the Financial Services Authority in the UK, with register number 446677.