Is Spreadex good for forex trading?

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Yes, Spreadex is particularly good for forex spread betting, which is a form of trading where you do not have to pay capital gains tax on your profits.

Spreadex Forex Trading Review
Spreadex Trading

Product Name: Spreadex Forex Trading

Product Description: Spreadex focuses on tax-efficient forex spread betting but has recently added the ability for traders outside of the UK to use their platform by trading Forex CFDs. The platform has recently had a facelift and provides a very clear overview of the major markets, with clear order tickets, with key fx pairs trading info prominently displayed.

Summary

Yes, one of the key benefits of Spreadex’s forex trading platform, is customer service. They have experienced dealers, that you can quickly get through on the phone, or via the platform’s chat functionality, plus voice brokerage. The ability to trade forex over the phone is something that few brokers offer nowadays, so it’s good to know that you still can, if you need to.


Forex Trading Platform

The desktop version of the forex trading platform is tabular which saves automatically on exit so you can spread it over multiply screens in one browser, window or detach modules to run separately. Spreadex, have built the trading platform in house, and they have some very good charting functionality where it is quick and easy to overlay technical indicators, that other forex brokers do not offer like VWAP.


Usability

It’s a good platform to get started on as you can trade forex from as little as £0.5 a point. One advantage of spread betting on forex is that your P&L will be in £, so you do not have to worry about FX fees on your resulting profit and loss. Spreadex also offers guaranteed stop losses, for added risk management and trailing stops, which move along with your profitable positions. For forex traders, that look at futures levels, you can also work limits with a time limit, so you don’t need to worry about leaving GTC orders open indefinitely.
Spreadex Forex Trading

Pros

  • Excellent customer service
  • Good range of FX pairs
  • Competitive overnight financing rates

Cons

  • No DMA forex trading
  • Limited FX options
  • Pricing
    (4)
  • Market Access
    (5)
  • Online Platform
    (4)
  • Customer Service
    (5)
  • Research & Analysis
    (3.5)
Overall
4.3
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