I would say if you are in the UK it is better to spread bet with Spreadex rather than to trade CFDs. Pricing and market access is exactly the same and the only reason Spreadex started offering CFDs in 2017 was so that they could offer financial trading to non-UK customers.
Spreadex CFD Trading Review
Name: Spreadex CFD Trading
Description: Spreadex is a smaller CFD broker that offers trading on a relatively large amount of markets, 10,000 including lots of smaller UK shares. I’ve used them for about 10 years and know some of the staff well.
72% of retail investor accounts lose money when trading CFDs with this provider.
Summary
Overall Spreadex is a good CFD broker for traders that want to trade on major and minor shares and put more of a focus on customer service than technology.
- CFD markets available: 10,000
- Minimum deposit: £1
- Account types: CFDs, spread betting
- Equity overnight financing: 3% +/- SONIA
- CFD pricing: Shares 0.2%, FTSE 1, GBPUSD 0.9
Spreadex has been providing trading since 1999, but only recently introduced CFD trading in 2017. The trading platform, whilst quite basic, does represent what Spreadex is good at, which is the major markets and customer service. Being a smaller CFD broker they have a bank of experienced dealers who can work orders for you and provide support for the CFD app and platform.
Recently Spreadex has become much more competently priced, offering UKX CFD trading with 1 pips spreads, 0.6 pips on EURUSD and 0.2% on UK shares. There is no minimum deposit and no inactivity fee.
Pros
- Excellent customer service
- Smaller cap stock CFD trading
- Wide range of CFD markets
Cons
- Limited options trading
- Trading only, no investing
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Pricing
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Market Access
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Online Platform
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Customer Service
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Research & Analysis
(4)
Overall
4.2
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
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