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Spread Co is a UK based financial spread betting broker founded in 2006 by Ajay Pabari, (formerly Chief Financial Officer of CMC Markets), which also works in partnership with other institutions in countries worldwide such as Canada and the United Arab Emirates. Spread betting was only added to their services in 2009.
Spread Co’s free platform is their own downloadable Saturn Trader, which like Saxo’s can be customised to suit whatever type of trade and style you prefer. They also have Saturn Web for online trading and Saturn Mobile App for Apple and Android devices. In a spread betting brokers comparison for mobile betting it is amazing to find so many ignoring Windows and Blackberry users. While Windows is a small minority device, Blackberry is quite popular, and by failing to offer an app for these users the clients will go to IG or another firm who cater to their needs, and few, if any, will want their trading accounts spread over different brokers.
Spread Co are quite competitive compared to other financial spread betting brokers. They give 0.8 points on Euro/Dollar, UK 100 and US 30 (fixed), and compared with IG for the Dow Jones, Spread Co offer 0.8pts (US trading hours) and 2.8 otherwise, where IG offer 2 and 6 respectively.
One thing Spread Co proffer, which other financial spread betting firms generally don’t, is a ‘Dedicated Relationship Manager’ for your account.
Like just about all the top spread betting brokers, Spread Co claim to offer ‘some of the tightest spreads and lowest margins across the industry’. They do offer 0.8 spreads, but on UK100, US30 index and EURUSD, with no mention of what they offer on other trades. They also deal in CFDs and forex.
Their minimum deposit is of £100, which is higher than some, lower than others, but a minimum deposit sum does not appear to be mentioned.
They have a free demo account and a choice of two other types; a Standard Account and a Limited Risk Account. The limited risk is more suitable for novice traders as it has an automatic stop loss, while the cheaper Standard account doesn’t, although you can add a stop loss order when you feel the need.
Their education section is again somewhat limited, and a bit like others they tend to use technical words to explain things. The problem with this is that experts do not need an explanation and beginners will only get more confused by these unknown terms, so like it isn’t as useful as it could be,
A spread betting brokers comparison leaves this company short on many fronts, with other brokers beating them on just about every aspect. IG offer no re-quotes, which Spread Co don’t, Saxo has a much better range of trades to choose from and the analysis tools are superior on InterTrader. Add this to the comparisons made in the article and even though Spread Co are more appropriate for beginners in many respects, it is these same novices who need the most help.