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.
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
Good for small capd
Good for small capd
Very good platform but slightly...
Very good platform but slightly simpler in terms of available features when compared to others. Excellent customer service.
Good platform but expensive.
Good platform but expensive.
Good
Good
good service and communications
good service and communications
Terrific range of instruments, fair...
Terrific range of instruments, fair spreads
Much the same as the...
Much the same as the rest.
Good value
Good value
Good for UK small caps....
Good for UK small caps. Has trailing stop losses and automatic email updates on share price movements.
Useful for occasional trades
Useful for occasional trades
good value, helpful customer service
good value, helpful customer service
Ok
Ok
haven't used for a while
haven't used for a while
Easy to use and great...
Easy to use and great support
Old school
Old school
4/5
Pros:
Easy access
Cons:
Reduce fees
5/5
Pros:
Easy to use
Cons:
Can't think of anything
4/5
Pros:
good for sign up bonus
Cons:
continue with better offers for current customers
5/5
4/5
Pros:
Customer service
Cons:
Not sure
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.
