Spreadex Forex Trading Review – A Must Read Document Before Getting Started With Spreadex

Editorial Team
spreadex-review

Spreadex is a London-based online broker well-known for its spread betting services. Traders can swap spread bets and CFDs on forex, crypto, indices, commodities, currencies, and bonds using their web-based trading site and smartphone trading applications. Our online broker analysis team has discussed some of the most critical things for you to remember when selecting the right broker for your online trading needs in this in-depth Spreadex study.

SPREADEX – OVERVIEW:

Spreadex is a London-based online trader that provides spread betting and CFD trading on over a hundred securities across eight asset groups — forex, commodities, indices, stocks, shares, ETFs, futures, and cryptocurrencies — via their automated web-based market platform and smartphone trading applications. Many specialised graphing and trading software, including candlestick information processing tools, are available to their customers. The FCA regulates and authorises the dealer, and customers’ funds are held in separate funds at top UK financial institutions. They could, however, boost their educational facilities, expand their payment options, and begin offering Meta Trade services.

SPREADEX – COUNTRIES, COMPLIANCE AND REGULATION:

Since Spreadex is a financial spread-betting broker based in the United Kingdom, they are fully approved and controlled by the Financial Conduct Authority (FCA), the regulatory agency in charge of regulating financial service firms in the United Kingdom. The brokerage has been in business for a long time, serving an ever-increasing clientele. Customers from the United States are not accepted. According to the Financial Conduct Authority’s (FCA) consumer money laws, funds from retail customers are held in a separate account.

This implies that the broker does not do business using the funds provided by the customers. Spreadex is a part of the Financial Services Compensation Scheme (FSCS), an organisation that helps pay qualifying clients up to £20,000 if a licenced UK broker declares bankruptcy. As a result, the broker tends to be reliable and well-regulated. Spreadex has a proven track record of profitability and is included on the Financial Times Europe’s Fastest-Growing 1000 ranking.

Residents of the United Kingdom, Ireland, and other EU constituent nations who endorse spread betting can use Spread ex’s facilities because they are still subject to the European Securities and Markets Authority’s (ESMA) CFD trading regulations, which include leverage limits, margin closeout, and negative balance security. The broker claims that the material on their website is not intended for dissemination to the general population of any specific country, nor is it meant for delivery to citizens of any country where such delivery or usage may be illegal or unauthorized.

SPREADEX – TRADING PLATFORMS:

1. SPRED EX WEB TRADING PLATFORM:

The broker offers a specialised web-based buying and selling platform for spread bets and CFDs that is completely adjustable, quick, and stable. Enhanced charting techniques with pattern classification and pro trend lines are included, as well as price alerts via message, push, or mailing and advanced orders such as forced open.

2. iPhone TRADING APPLICATION:

You can exchange the financial markets on the move with the Spreadex Financial Services App for iPhone. To maintain your information safe, the app includes advanced charting equipment, price notifications, advanced orders, SSL encryption, and biometric login.

3. IPAD TRADING APPLICATION:

This is the iPad version of the Spreadex Financial Trading App. Through their iPads, clients will exchange hundreds of financial systems when out and about. The broker’s website has a link to download the software.

4. ANDROID TRADING APPLICATION:

Traders with Android phones can get the Spreadex Financial Trading Application for Android operating systems, which allows them to access the markets at any time and from any location.

SPREADEX – TRADING TOOLS AND SERVICES:

1. CANDLESTICK PATTERN AND TREND RECOGNIZER:

Spread ex’s software includes a free specialised and automated candlestick pattern recognition app. Any desktop map can be used to use the tool. To use the app, go to the chart’s menu and choose Technical -> Pro Trading Tools -> Candle Patterns from the drop-down menu. Once you’ve enabled it, you can customise the system to your desired candlestick pattern.

2. CHART PATTERN AND TECHNICAL ANALYZER:

The broker gives instructions on how to recognise various map shapes, including ascending, falling, and symmetrical triangles; bull and bear flags; double top and bottom; head and shoulder and opposite one; and various types of networks. Traders may use this information to detect new trading opportunities.

3. ECONOMIC DIARY, INDICATORS AND METRICS:

On their website, Spreadex has a regular and weekly economic diary. All planned policy announcements, report updates, and any other economic occurrence that may affect the capital markets are mentioned in the diary. The broker has a segment where they review all of the quantitative data that comes into the market, such as inflation, interest rate announcements, and GDP analyses, among other things.

SPREADEX – EDUCATION AND TRAINING:

A financial trading forum is also maintained by the broker to put a spotlight on some of the more complicated trading issues. Their articles will teach traders a couple of things. The broker’s website has a page called Video Training Hub. It has several videos that illustrate how to use the broker to sell spread bets, including how to pick a market to exchange and how to modify a trade order. Many manuals are available on the broker’s websites that show customers how to use the app and its different resources.

SPREADEX – ACCOUNTS AND CHARGES:

There is only one account category offered by the broker. A trader may use the profile to spread bet on the software’s over 1000 exchangeable instruments or to sell CFDs. There are no joining fees, no minimum deposit conditions, and no trading obligations for a Spreadex account. Any sum may be used to begin trading. Spread bets and CFDs are also leveraged strategies, allowing traders to sell on a margin as little as 0.5 per cent on stock indices. Variable spreads start at about 0.6 pips, and some instruments have no commissions. As opposed to many other trading platforms, some of which sell raw spreads as low as 0 pips, these are not the lowest spreads we’ve seen.

SPREADEX – CUSTOMER CARE SUPPORT:

Spreadex has a devoted customer relations team that is present Monday through Friday from 8:00 a.m. to 5:30 p.m. London time to help traders during business hours. Clients can contact customer service representatives through a variety of methods, such as Live Chat, text, and telephone conversations. They can also be found on LinkedIn, Instagram, Twitter, YouTube, and Facebook, where they have accounts.

SPREADEX – ACCOUNT OPENEING:

Spreadex makes it easy to open an account. Simply go to the broker’s website and press the ‘Create an Account’ icon in the top right-hand corner, then fill out the questionnaire that appears. Then, once you’ve confirmed your email, submit your KYC credentials, which contain your photo ID and proof of residence. You will finance your account and begin trading until the records have been checked, which can take several days. You must read all of the broker’s requirements, conditions, and policies thoroughly. Move ahead only if you completely comprehend and accept them.

Spreadex supports the following mechanisms for payment:

  • Visa, Switch/Maestro, and MasterCard are accepted by the realtor. On debit card deposits of less than £50, they can charge £1. The minimum amount that can be withdrawn is £50. Spreadex allows credit cards from MasterCard and Visa. You may make a payment either online or by telephone.
  • Bank Transfer: Bank transfers can be used for both deposits and withdrawals. The bank account and Sort Code for the broker can be found on their website.
  • Cheque: A check may also be used to make a deposit.
  • Direct debit: Interested traders can set up a direct debit account.

SPREADEX – CONCLUSION:

Spreadex is a well-known spread betting platform in the United Kingdom. Via their patented web-based trading site and smartphone trading applications, they deliver spread bets and CFDs on over a hundred instruments including forex, assets, indices, shares, futures, ETFs, options, and virtual currencies. The FCA has completely approved and supervised the broker, and the assets of their customers are held in consolidated funds at major Financial institutions. Spread ex, on the other hand, could expand their payment options and boost their educational opportunities. They still don’t have any social trading site integration and don’t offer the famous Meta Trader services.

FREQUENTLY ASKED QUESTIONS:

1. HOW DOES SPREADEX WORKS?

Look at the Spreadex forecast or bet on the sector in question to put a football spread bet. You will purchase on the spread if you believe the result would be greater than our cost. You will offer on the spread if you believe the result would be cheaper than our cost.

2. IS SPREADEX SAFE? 

Since it has a great deal of experience and is governed by a top-tier financial authority, Spreadex is considered secure.

3. WHAT DOES IT MEANS TO DO SPREAD BETTING?

Spread betting is a financial tactic in which the initial payment, such as a portfolio or commodity, is not owned by the players. Spread bets have two rates a cost at which you can purchase (bid price) and a cost at which you can offer (as in stock market trading) (ask price).

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