Spreadex Options Trading Expert Review

Is Spreadex good for options trading?

Yes, you can trade options with Spreadex, but you are limited to only a few indices, but profits are tax-free if you trade as a spread bet and commission is built into the spread. If you want to trade options as a spread bet, then you are much better off with IG. Or if you are a more sophisticated trader, Saxo and Interactive Brokers offer DMA on exchange options trading across all asset classes.

I really like Spreadex and I really like options, I much preferred it when you could trade shorter-term options, but the FCA no longer allows retail investors to trade binary options, so you have to take a slightly longer-term view.

It’s been a long day testing options trading platforms, and I’m a little tired so when I logged into my Spreadex account after 4 pm with only 10 minutes till the close, I wasn’t sure what to trade.

However, thankfully, Spreadex has recently integrated trading signals from Autochartist, which gives you an ever-updating list of trading ideas. These are mainly for going long or short on spread bets, but still give you an idea of where the market may be going.

There was a bearish signal for the FTSE, and whilst I wouldn’t normally bet against Britain, the UK markets have been sliding a bit recently from all-time highs. Plus I won £500 from Spreadex on the Cheltenham Gold Cup, so I don’t mind having a punt on the markets falling further. I bought some April 8625 Puts which is just below where the market is trading.

If the FTSE goes down, I’ll add my winnings to this years Ascot kitty. If the UK market continues to rise, my max loss is £90, but everyone else wins. That’s a pretty good hedge by my book, I’d say.