A few months ago, I had lunch with a couple of guys at Spreadex. It was at a lovely little Greek place called Bar Meze in St Albans. Just round the corner from their offices. Fantastic taramasalata and friendly staff.
It’s one of those restaurants you go to where you don’t have to look at the menu. One of the owners (he might have been the owner, he acted like it anyway) just comes up and says don’t worry we’ll bring you a tapas selection of the best stuff. The Swordfish was particularly good too…
But anyway, I’ve had an account with Spreadex for years and always loved their service, but also their credit facility. It allowed me to deal with no money on account, which was great. Mainly because I never had any money and had to wait for my “half-com” commission cheques to clear before I could fund any positions or clear my inevitable losses.
I think Spreadex are probably one of the most underrated brokers out there. So if you haven’t tried them we’ve done a video review of their trading platform so you can have a look under the bonnet before opening an account.
Many years ago I wrote an article about if spread betting brokers where cars what would they be. Spreadex I said would be Bristols.
And I think that still holds true. Bristols are handmade in England and tend to get all their business by referrals from looking after their customers well. Spreadex doesn’t spend a huge amount on marketing and instead prefer to rely on their reputation to win long-term business. Plus Spreadex makes most of their own stuff in-house. From trading platforms to CRMs. A lot of brokers outsource those kinds of things.
Even their affiliate portals.
For most other brokers we work with we can see what we refer to them, what our conversion rate percentage is, what’s popular and so on. Plus it’s all audited by an independent third partly like Income Access. But with Spreadex, they do it all in-house. We just get an email saying that we’ve had x amount of click-throughs and referred x amount of clients.
But when you have a good relationship in place, it pays to keep it honest. It’s Spreadex’s similar approach to clients as to why we like them on the Good Broker Guide.
For more info on Spreadex, you can read our interview with CEO Jonathan Hufford
Anyway, I’ve been meaning to do a video review of Spreadex’s trading platform for a while. So here it is.
Watch our video review of Spreadex’s trading platform
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Richard founded the Good Broker Guide (now Good Money Guide) in 2015 and has been a broker for 20 years most recently at Investors Intelligence and previously a multi-asset derivatives broker at MF Global (Man Financial). Richard started his career working as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson) after interning on the NYMEX oil trading floor in New York and London IPE in 2001 & 2000.