Company Review: Spreadex
Spreadex is based in St Albans, just outside of London and has been operating since 2000. The company provides a platform for sports spread betting as well as financial spread betting, with the latter being their most popular.
The Spreadex platform was completely redesigned in June 2012. The redesign led to faster execution speeds as well as allowing personalisation of the platform for individual users. The company provides a wide range of markets including bonds and interest rate spread betting with an iPhone application alongside. The application itself also has a fully fledged charting package; so decisions can be made as well as executed while on the move. You can find more details about the spread sizes, available offers, markets and deposit options below.
More on Spreadex
Customers can enjoy the range of markets you would expect from a leader in the spreadbetting sector, including shares, indices, currencies, ETFs, bonds and commodities.
In June 2012, Spreadex gave its online trading platform a thorough overhaul, resulting in a revamped system providing speed of execution combined with an interface capable of being customised to personal preferences. For those that like to keep tabs on their account while away from their computer, an iPhone app offers full charting capability as well as the capacity to open and close trades.
For customers who prefer to trade when volumes are lower, Spreadex offers round-the-clock trading from Sunday evening through to Friday night.
There is no minimum deposit needed to open an account with Spreadex and both credit and deposit accounts are available. Agreement to a credit account is subject to a credit check but if it is approved it allows instant trading without any money being deposited first.
The minimum stake starts from just £1 in most cases, but customers (other than those with a credit facility) are required to have the necessary funds in their account in order to cover the Notional Trading Requirement. This is the margin set by Spreadex and varies between markets – it starts at just 10 but is typically much higher.
In order to control risk and prevent a margin call, Spreadex offers the facility to attach either a stop order or a guaranteed stop order to each trade in return for a premium.
The spread on indices starts from 1 on a daily bet and 0.8 on a futures position.
Charts are vital for the vast majority of traders and those available at Spreadex are superior to many others on the market. The company won the Best Online Charts award from MoneyAM in 2011 and there is a wide range of data available which traders can zoom in on, customise or save.
The available resources from Spreadex also include an economic calendar, an explanation of the importance of the various factors as well as trader updates and analysis. For fans of social media, Spreadex also regularly posts updates on Twitter.