61% of retail investor accounts lose money when trading CFDs with this provider
- Experts rate Spreadex Forex Trading highly for its focus on tax-efficient forex spread betting, highlighting its excellent customer service and user-friendly platform. The platform features a clear overview of major markets and offers unique functionalities like voice brokerage, which is rare among competitors.
- Across 272 user reviews on Good Money Guide, averaging 4.3/5, customers frequently commend the platform for its reliable customer service, efficient execution of trades, and competitive pricing. Many users appreciate the clear communication and the ease of use of the platform, while some mention the need for a broader range of forex options as a potential area for improvement.
Spreadex Forex Trading Expert rating
Our expert rating is the average of the areas listed here, each scored out of 5 by our team.Our experts have rated Spreadex Forex Trading across five key areas of our review framework.
- Pricing4.0
- Market Access5.0
- App & Platform4.0
- Customer Service5.0
- Research & Analysis4.0
Pros
- Excellent customer service
- Good range of FX pairs
- Competitive overnight financing rates
Cons
- No DMA forex trading
- Limited FX options
See full expert review
Is Spreadex good for forex trading?
Yes, we rate Spreadex as 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 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.
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.
Customer reviews for Spreadex
Customer ratings come from reviews left on this site. Every review is read and approved before it is published.Based on 272 reviews
- Excellent57%
- Very good26%
- Basic10%
- Poor4%
- Bad3%
Read customer reviews
william priddle @ 03/11/2021 03:58
Excellent! No fuss-everything just works and they are always swift to answer the phone if there is any difficulty.
Si @ 03/03/2021 04:32
Not impressed. WonÔÇÖt take orders or dealings with no explanation
Richard Abel @ 02/26/2021 09:16
By far the best financial institution that I have ever used. Very very helpful staff that really care about your investments and positions. Never had to wait for more than 2 or 3 rings to get through to the dealing desks, while other organisations I use like HL and IG think a 45 min wait is acceptable, not Spreadex. Charlie and Andrew are great guys to deal with.
Paul @ 02/25/2021 09:19
Good reliable service.
Peter H @ 02/25/2021 01:42
My preferred SB platform. App works well on phone and tablet, online chat and customer service is good and responsive. A happy customer.
Ravi Nadar @ 02/19/2021 04:17
Great customer service. Price competitive. However some markets disappear without notice. So itÔÇÖs difficult to plan ahead.
Amit @ 02/18/2021 10:05
Service is good and website & mobile App are easy to use. The one problem is they are not competitive on the particular markets I trade (high daily funding charges and wide spreads).
bob edwards @ 02/18/2021 05:49
always been good up to now , but i now find most small caps and aim stocks no longer available ,inc some ftse 250 stocks, but no one said anything about this. a lack of communication.
Paul Scott @ 02/18/2021 05:23
Spreadex have always been highly supportive and flexible when needed, over many years. Their support enabled me to get back on my feet after disasters in 2008-9. I put nearly all my business through them to this day. Great people.
Richard Green @ 02/18/2021 12:04
Never had any complaints about Spreadex. They offer a highly efficient service and I've never felt ripped off. Can't say that about all spread betting companies!
5/5
4/5
5/5
5/5
5/5
5/5
5/5
5/5
3/5
4/5
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.
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.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
