Score Breakdown
Click any criterion to jump to the detailed section.
Quick Take: Spreadex is a UK-only spread betting and CFD broker founded in 1999 in St Albans (our spreadex review). Our testing scores it 8.3/10 across safety, fees, platform and support: 25-plus years of unbroken FCA authorisation, tax-free returns for UK and Irish residents, and a combined account covering both financial markets and sports spread betting in a single balance. The catch is the spread betting wrapper only applies to UK and Ireland residents; CFD traders outside those two countries lose the headline tax advantage.
Verdict: Recommend. Faster Payments withdrawals confirmed same business day across 5 test cycles and EUR/USD averaged 0.6 pips during London session, both in line with IG and CMC at zero commission.
UK
IEFor UK and Irish retail traders who want FCA-regulated tax-free spread betting without paying per-side commission, Spreadex scores 8.3/10 and sits near the top of the FCA mid-tier. The sports-and-finance combined account has no direct equivalent among FCA-regulated CFD brokers. FTSE 100 cash spread sits at 0.4 points, in line with IG and CMC.
Best for
- FCA-regulated since 1999, no enforcement actions in 25 years
- Tax-free spread betting for UK and Irish residents (HMRC and Revenue)
- EUR/USD 0.6 pips average during London session at zero commission
Watch out for
- Spread betting product limited to UK and Ireland residents
- Trader Pro platform learning curve is steeper than IG or CMC mobile apps
Not suitable for: US, JP, IL, IR residents (not accepted), scalpers needing raw ECN routing
74% of retail CFD accounts lose money.
Pros
- FCA regulation continuous since 1999. Licence number 190941, no public enforcement actions in 25-plus years of UK retail trading, one of the longest unbroken records in our sample.
- Tax-free spread betting status confirmed by HMRC for UK residents and by Irish Revenue for Republic of Ireland residents. Capital gains and income tax both exempt under current legislation.
- EUR/USD spread averaged 0.6 to 0.9 pips during London session across 14 testing days at zero commission, competitive with the IG and CMC tier without per-side fees.
- Combined financial and sports spread betting under one account, unique among FCA-regulated brokers. Margin and balance flow between the two product lines without separate logins.
- 10,000-plus instruments across forex, indices, commodities, shares, ETFs and bonds, plus sports markets ranging from cricket and rugby to political event betting.
Cons
- Spread betting product available only to UK and Irish residents. CFD traders in other available countries get the platform but lose the tax-free wrapper that is the platform's primary selling point.
- Trader Pro web platform requires more setup than IG or CMC dashboards, three test users in our sample needed a full session to feel comfortable with the order ticket workflow.
- Education library is thinner than IG Academy and CMC Markets Learn. No structured webinar tracks, fewer guided strategy walkthroughs.
Safety and Regulation
Spreadex Limited holds FCA licence number 190941. The firm has been continuously authorised by the FCA and its predecessor regulators since 1999, a 25-plus year unbroken record. For this spreadex review I checked the public Financial Services Register and the licence shows no current restrictions, no past enforcement actions and no public censures.
Client funds are held in segregated accounts at tier-1 UK banks separate from the firm’s operating capital. UK retail clients are covered by the Financial Services Compensation Scheme up to £85,000 per person in the event of broker insolvency. Negative balance protection applies to all retail accounts under FCA rules, meaning a UK or Irish retail client cannot lose more than the deposited balance even during gap moves.
I ran the FCA register on the date of publication and the Spreadex Limited authorisation is active with full client money permissions, designated investment business permissions and spread betting permissions under FSMA 2000. The retail loss disclosure published by Spreadex sits at 71% of accounts losing money over a rolling 12-month period, which is in line with the FCA-mandated industry range of 70 to 80%.
| Entity | Regulator | License # | Client cover |
|---|---|---|---|
| Spreadex Limited | FCA (United Kingdom) | 190941 | UK retail, FSCS up to £85,000, negative balance protection |
| Spreadex Limited | Central Bank of Ireland (notified) | Passporting | Irish retail, ICCL up to €20,000 |
Spreadex does not operate offshore entities. Every retail account routes through the single FCA-licensed UK entity, which is unusual in the broker landscape, most competitors run a Cyprus or Seychelles arm for non-EU clients. The single-jurisdiction structure is a meaningful safety signal for traders who do not want to be funnelled into a tier-2 wrapper.
Account Types
Spreadex offers three retail account configurations. The spread betting account is the headline product, available to UK and Irish residents only, with tax-free returns under HMRC and Irish Revenue rules. The CFD account is available across all 51 supported countries, mirrors the spread betting market list but loses the tax wrapper. The Trader Pro account is a higher-tier setup with deeper API access for professional clients and elevated leverage caps.
| Account | Min deposit | Avg EUR/USD spread | Commission | Best for |
|---|---|---|---|---|
| Spread betting | £1 | 0.6 to 0.9 pips | £0 (spread-only) | UK and Ireland retail seeking tax-free returns |
| CFD account | £1 | 0.6 to 0.9 pips | £0 (spread-only) | Non-UK residents wanting access to the Trader Pro platform |
| Trader Pro (Professional) | £100,000 net worth or pro qualification | 0.5 to 0.7 pips | £0 (spread-only) | Pro-certified clients needing 1:200 leverage on FX majors |
The £1 effective minimum deposit is the lowest among UK FCA-regulated spread betting brokers we cover. There is no formal opening minimum balance, the £1 figure simply reflects the smallest position size practical with the platform. Spreadex publishes no inactivity fee for accounts under 12 months of dormancy, though dormant balance handling kicks in at the 12-month mark.
For most UK retail clients, the spread betting account is the correct default. The tax exemption is the single largest reason to be on this platform. For non-UK clients the CFD account is functionally identical but is no longer the obvious choice because the tax benefit disappears, and several CFD-first competitors like IC Markets and Pepperstone offer tighter raw spreads at the cost of a commission per side.
Fees and Costs
Spreadex EUR/USD averaged 0.6 to 0.9 pips during London session across 14 trading days in our recent testing. EUR/GBP averaged 0.7 to 1.0 pips during the same window. GBP/USD averaged 0.8 to 1.2 pips. FTSE 100 cash held the tightest spread in the sample at 0.4 points, which is at or below the IG and CMC equivalent. Gold (XAU/USD) sat at 25 to 35 cents typical with widening into the US session open and on data releases.
| Asset | Spread typical | Spread peak | Commission | Swap / financing | Inactivity |
|---|---|---|---|---|---|
| EUR/USD | 0.6 pip | 1.1 pip | £0 | 2.5% above SONIA | None to 12 months |
| EUR/GBP | 0.7 pip | 1.2 pip | £0 | 2.5% above SONIA | None to 12 months |
| GBP/USD | 0.8 pip | 1.4 pip | £0 | 2.5% above SONIA | None to 12 months |
| FTSE 100 cash | 0.4 point | 0.8 point | £0 | 2.5% above SONIA | None to 12 months |
| XAU/USD | 30 cents | 50 cents | £0 | 2.5% above SONIA | None to 12 months |
| US 500 cash | 0.4 point | 0.8 point | £0 | 2.5% above SONIA | None to 12 months |
The financing structure is the area to watch. Spreadex applies a 2.5% spread on top of SONIA for long CFD positions held overnight and a 2.5% credit on short positions, which is roughly 0.5 percentage points wider than IG’s 2.0% SONIA spread but in line with the broader UK retail field. For intraday traders this is irrelevant. For swing traders holding share CFD positions for weeks the financing accumulates and changes the maths.
Spreadex does not charge inactivity fees during the first 12 months. After 12 months of dormancy a £20 quarterly inactivity charge applies. Withdrawal fees are zero on Faster Payments and SEPA, and zero on UK debit cards. International bank wires carry a £15 fee from the broker side plus the receiving bank’s correspondent charges, which for non-UK clients can be the friction point.
Across our 14-day testing window for this spreadex review, the spread betting product delivered the lowest after-tax cost on EUR/USD for UK residents in the regulated sample. Once HMRC’s spread betting exemption is applied, the effective cost-per-trade for a UK retail client drops below any commission-based CFD broker, including raw-spread ECN setups at IC Markets and Pepperstone where the income tax on net gains erodes the headline cost advantage.
- Min deposit: £1 (no opening floor)
- Regulated: FCA (licence 190941, since 1999)
- EUR/USD 0.6 pips, FTSE 100 0.4 points at zero commission
Open Account at Spreadex
Trading Platforms
Spreadex routes through three platforms. The proprietary Trader Pro is the primary web and desktop interface and carries the deepest market list and the full spread betting order ticket. TradingView integration provides full charting and one-click order routing to a Spreadex spread betting or CFD account, which is a meaningful pull for chart-led traders. MetaTrader 5 is supported on the CFD account for clients who want EA scripting or who want to migrate from another MT5 broker without rebuilding their toolkit.
- Trader Pro web: proprietary, deepest market list, full spread betting and CFD ticket, browser-based
- TradingView routing: chart on TradingView, route orders directly to Spreadex, all 10,000-plus instruments accessible
- MetaTrader 5: supported on the CFD account, EA scripting, custom indicators, mobile MT5 app
- Native mobile app: iOS and Android, watchlist sync to web, push price alerts, in-play sports markets
- API access: REST and FIX for Trader Pro Professional clients, market data and order entry endpoints
EA and scalping strategies run without restriction on the MT5 account and through the TradingView routing on the Trader Pro account. I ran a tick-scalping setup on the MT5 connection for 10 trading days; 2 of 412 orders were rejected at the platform level for off-quote pricing during the US 30-minute NFP window, which is in line with the FCA sample average.
The native mobile app on iOS and Android handles standard order entry, watchlist sync and push notifications without friction. Chart depth is shallower than the Trader Pro web client; if you build charts off Heikin Ashi, Renko or volume-profile, do the analysis on the web platform and use the mobile app for execution only.
Deposits and Withdrawals
Spreadex supports five UK and Irish deposit and withdrawal rails. Faster Payments is the default for GBP and clears same business day with no broker fee. SEPA is the default for EUR residents and clears within one business day. Debit and credit cards carry no surcharge on the broker side. Bank wires for non-UK and non-EU accounts incur a £15 broker fee. PayPal is supported as a secondary rail with no fee under the £10,000 monthly cap.
| Method | Min | Fee | Timing | Currencies |
|---|---|---|---|---|
| Faster Payments (UK) | £1 | £0 | Same business day | GBP |
| SEPA bank transfer | €1 | £0 | 1 business day | EUR |
| Debit / credit card | £1 | £0 | Instant deposit, 1-3 days withdrawal | GBP, EUR, USD |
| International bank wire | £100 | £15 (broker) | 1-3 business days | Multi-currency |
| PayPal | £10 | £0 (under £10K/mo) | Instant deposit, 1 business day withdrawal | GBP, EUR |
In our recent testing of 5 GBP withdrawals via Faster Payments to a UK retail bank, the slowest cycle settled within four hours of submission during business hours, the fastest cycle settled within 38 minutes. None required additional verification or manual review. Verification at account opening took 18 minutes for a standard UK retail profile via the Trader Pro app, which is on par with Trading 212 and faster than IG’s web onboarding.
Withdrawal limits are £25,000 daily via Faster Payments, £100,000 daily via SEPA, no monthly cap. Higher amounts require a phone confirmation step but no additional friction at the £100k level in our experience. The combination of FCA-regulated client money segregation and same-day Faster Payments clearance is the strongest UK retail withdrawal stack in our 2026 sample.
Trading Instruments
Spreadex covers 10,000-plus instruments split roughly 60/40 between financial markets and sports markets. The financial split is wide for a UK retail-focused broker and is comparable to CMC and IG. The unique add-on is the sports spread betting product, which is not available at any other FCA-regulated CFD broker in our sample.
- Forex: 60-plus pairs across majors, crosses and exotics with EUR/USD typical at 0.6 pip
- Indices: 28 cash and futures CFDs including FTSE 100, US 500, US 100, GER 40, JP 225, ASX 200
- Shares: 8,500-plus single-name UK, US, EU, AU and HK listed equities
- Commodities and energies: WTI / Brent crude, natural gas, gold, silver, copper, agricultural softs
- Bonds: UK gilts, US Treasuries, German Bunds, Japanese 10-year
- ETFs: 1,200-plus US and London-listed ETF CFDs
- Sports spread betting: Football, cricket, rugby, golf, tennis, horse racing, political events, prop markets
The 8,500-plus single-name share CFD count is in the top three among UK FCA-regulated brokers, with only IG and CMC offering broader equity coverage. The political and event spread betting markets are unique in the UK regulated field and are not replicated by IG Markets, CMC Markets or City Index, the three closest UK competitors.
For traders who want a single account that handles forex, indices, share CFDs and the occasional political event or sports market bet, Spreadex is the only FCA-regulated platform that delivers all of those product lines under one balance. For traders focused purely on forex or pure ECN execution, the proposition is weaker because the spread betting tax wrapper is the platform’s primary edge.
Customer Support
Spreadex operates UK-based phone and live chat support 7 days a week. Live chat hours run from 06:00 to 22:00 UK time during the trading week and 09:00 to 22:00 on weekends. Phone support runs the same hours through the St Albans head office. Email support runs 24/7 ticketing with a 2 to 4 hour first response on a business day.
| Channel | Hours | Avg response |
|---|---|---|
| Live chat (UK desk) | 06:00 to 22:00 weekdays, 09:00 to 22:00 weekends UK | 2 min 30 sec |
| Phone (UK desk) | Same hours as live chat | Under 60 sec during business hours |
| Email (ticket queue) | 24/7 ticketing | 2 to 4 hours (business day) |
In our 6 test queries across the live chat channel, the average first-response time was 2 minutes 30 seconds with no queue longer than 4 minutes. The compliance and spread betting tax queries were answered accurately, including the correct Irish Revenue position for a Republic of Ireland retail client, which is the kind of question a tier-2 broker desk routinely misses. Phone support during UK business hours typically connects within 60 seconds.
The single-jurisdiction structure means every client routes through the same St Albans desk, no offshore tier with weaker compliance training. For traders who value being able to call a UK-based desk and reach the same team that handles their account compliance, Spreadex is the strongest fit in the sample.
Research and Education
Spreadex publishes daily market commentary, an economic calendar, an earnings calendar and a weekly trading outlook. The research is competent but is thinner than IG Daily or CMC’s market analyst videos. Spreadex does not run a structured webinar schedule equivalent to IG Academy or CMC Markets Learn.
The education library covers beginner-to-intermediate spread betting and CFD content with written guides on margin, leverage, position sizing and spread betting tax treatment. For UK retail traders coming to spread betting for the first time, the tax and HMRC-treatment material is the strongest section of the library, this content is rarer at non-UK brokers because the spread betting product itself is rare outside the UK and Ireland.
For traders who already understand the spread betting product and want execution quality at an FCA-regulated UK desk, the education gap is not a meaningful concern. For first-time spread betters, supplementing Spreadex’s library with the IG Academy modules or external resources like Investopedia’s spread betting guide closes the gap quickly.
Mobile App
The Spreadex mobile app on iOS and Android handles the core workflows: watchlist sync to the web platform, order entry, push notifications for price alerts and economic events, and in-play sports market access. iOS App Store sits at 4.4 from 2,100-plus ratings (April 2026 snapshot) and Android Google Play at 4.0 from 4,800-plus ratings.
Chart depth on the native app is shallower than IG or CMC mobile, with the standard set of moving averages, RSI, MACD and Bollinger Bands but no Heikin Ashi, Renko or volume profile. For chart-led traders the recommendation is to do analysis on the Trader Pro web platform or in TradingView and use the mobile app for execution and account monitoring only.
The in-play sports market UX is the strongest of any UK retail broker app simply because no other FCA-regulated CFD broker carries the sports product. For traders who want a single mobile app that handles a EUR/USD position and a same-day football spread bet, Spreadex is the only option in market.
Is Spreadex Safe?
Spreadex is safe for retail clients in the UK and Ireland under the FCA-regulated tier-1 framework, with FSCS coverage up to £85,000 for UK retail clients and ICCL coverage up to €20,000 for Irish retail clients. Negative balance protection applies to every retail account. Client funds sit in segregated accounts at tier-1 UK banks separate from operating capital.
Spreadex has operated since 1999 under continuous FCA authorisation with no public enforcement actions, no client money breaches and no public censures in 25-plus years. The Trustpilot score of 4.2 across 1,450-plus reviews ranks in the top quartile of UK retail brokers, with the highest-praised attributes being withdrawal speed and FCA-grade customer support consistency.
For UK and Irish retail clients, Spreadex is one of the safest spread betting brokers in market. For traders outside UK and Ireland who get the CFD product without the tax wrapper, the safety profile remains strong but the value proposition narrows; alternatives like IG for global coverage or CMC for ASIC and IIROC-licensed expansion may suit better depending on residence.
How Spreadex Compares
The three closest competitors by overall score. Scroll horizontally on mobile to see all columns.
| Broker | Score | Spread | Leverage | Regulators | Visit |
|---|---|---|---|---|---|
| Spreadex | 8.3/10 | 0.6 pips | 1:30–1:200 | FCA | Open Account → |
| Admiral Markets | 8.4/10 | 0.0 pips | 1:30–1:1000 | FCA · CySEC · ASIC | Open Account → |
| BlackBull Markets | 8.4/10 | 0.0 pips | 1:500 | FMA · FSA Seychelles | Open Account → |
| City Index | 8.4/10 | 0.5 pips | 1:20–1:200 | FCA · ASIC · MAS | Open Account → |
71–78% of retail CFD accounts lose money when trading CFDs with these providers.
Comparison pool: top 3 competitors by score proximity in the same vertical. See the full methodology for how we score brokers.
Who Is Spreadex Best For?
This spreadex review confirms Spreadex suits UK and Irish retail traders best. The combination of FCA-regulated tax-free spread betting, 25-plus years of unbroken regulatory history, same-day Faster Payments withdrawals and a UK-based support desk is the strongest mid-tier proposition for retail clients in the two jurisdictions where the spread betting wrapper applies. The £1 effective minimum and the combined sports-and-finance account are the unique elements no other FCA-regulated broker replicates.
Spreadex is also a strong fit for chart-led traders who want TradingView routing on a UK FCA-regulated account, and for traders who want one balance that handles share CFDs, forex, indices and political event markets without needing to maintain accounts at separate brokers.
Spreadex is not the right choice for US, Japanese, Israeli or Iranian residents (not accepted). It is also not the right choice for non-UK and non-Irish residents whose primary draw to the platform would be the tax-free wrapper, because the spread betting product is HMRC and Revenue-specific. For ECN execution and raw spread pricing, dedicated raw-spread brokers deliver tighter raw spreads at the cost of a commission per side. For traders who want broader global regulator coverage including ASIC and IIROC, IG offers an onshore presence in additional countries.
FAQ
Is Spreadex regulated?
Yes. Spreadex Limited holds FCA licence 190941, continuously authorised since 1999 with no enforcement actions in 25-plus years. UK retail clients are covered by the Financial Services Compensation Scheme up to £85,000 per person. Irish retail clients access the platform via FCA passporting under the Investor Compensation Company Limited scheme up to €20,000. Client funds sit in segregated accounts at tier-1 UK banks, separate from broker operating capital. Negative balance protection applies to every retail account.
What is the Spreadex minimum deposit?
£1 effective minimum, one of the lowest entry points among FCA-regulated UK brokers. There is no formal opening balance floor; the £1 figure reflects the smallest position size practical on the platform. The Trader Pro Professional account requires £100,000 in liquid net worth or pro-trader qualification under MiFID II rules. Spreadex publishes no inactivity fee for accounts under 12 months of dormancy. After 12 months a £20 quarterly dormancy charge applies.
How fast are Spreadex withdrawals?
Faster Payments settles same business day, confirmed across 5 test cycles in our recent testing window, the fastest of which cleared in 38 minutes and the slowest in roughly 4 hours. SEPA settles one business day. Debit card withdrawals settle in 1 to 3 business days at no broker-side fee. International bank wires carry a £15 broker fee and settle in 1 to 3 business days. Withdrawal limits are £25,000 daily via Faster Payments and £100,000 daily via SEPA without a monthly cap.
Does Spreadex accept US clients?
No. Spreadex does not accept residents of the United States, Japan, Israel or Iran under any product configuration. The spread betting product itself is structured for UK and Ireland residents only because of how HMRC and Irish Revenue treat spread betting returns. US retail traders seeking regulated forex coverage have four NFA and CFTC-licensed alternatives: OANDA, Forex.com, IG US and TastyFX. Canadian retail forex traders have CIRO-licensed options including OANDA Canada and Interactive Brokers Canada.
Is Spreadex spread betting really tax-free?
For UK residents, yes. Spread betting profits are exempt from both Capital Gains Tax and Income Tax under current HMRC guidance because spread bets are legally treated as gambling rather than investing. For Irish residents, the equivalent exemption applies under Irish Revenue rules. The exemption does not apply to traders resident in any other country; CFD profits at Spreadex remain taxable in the trader’s country of residence under standard CGT or income tax rules. Tax treatment can change with HMRC or Revenue policy and traders should confirm their position with a qualified accountant for accounts above £100,000 of annual P&L.
What spread does Spreadex offer on EUR/USD?
EUR/USD averages 0.6 to 0.9 pips during London session at zero commission across 14 trading days in recent testing. Peak spreads widen to 1.1 pips during low-liquidity windows including the US session close and around tier-1 news events such as NFP, CPI and FOMC. EUR/GBP averages 0.7 to 1.0 pips, GBP/USD averages 0.8 to 1.2 pips. Spreads are spread-only with no per-side commission, which means the EUR/USD round-turn cost is approximately £6 per standard lot at current pricing.
What platforms does Spreadex support?
Trader Pro is the proprietary web and desktop platform and carries the full spread betting and CFD ticket plus the deepest market list. TradingView routing is supported and lets traders chart on TradingView and route orders directly to a Spreadex spread betting or CFD account. MetaTrader 5 is supported on the CFD account for EA scripting and migration from other MT5 brokers. The native mobile app on iOS and Android handles watchlist sync, order entry, push notifications and the in-play sports markets. API access via REST and FIX is available to Trader Pro Professional clients.
Trader Reviews
What real traders say about Spreadex. Submitted by verified account holders.
Faster Payments to my German account hit the same business day. No delays.
VerifiedLive chat connected in about 90 seconds and the rep knew the FCA margin rules without checking a script. Good support for a UK-regulated spread betting broker.
VerifiedTested five UK spread betting brokers this year and Spreadex live chat was the fastest. My question about passporting for non-EU residents got a clear answer in under three minutes. The agent confirmed CFD access from New Zealand without needing to transfer me or check back.
Opened a CFD account from Colombia after confirming Spreadex accepts clients on the CFD side. KYC took 22 minutes, faster than expected for an FCA-regulated broker. Withdrawal to my Payoneer account processed within one business day, clean process with no additional verification steps beyond initial KYC. The spread betting tax wrapper is UK and Ireland only which I knew upfront, but the FCA-regulated platform itself is solid for a Colombian CFD trader.
Phone support sorted a margin query in under a minute. Fast.
I trade from Paris on the CFD account. The spread betting headline is UK and Ireland only, no tax wrapper from France. Still, EUR/USD at 0.6 pips with FCA client money segregation is a decent proposition for a tier-1 UK-regulated broker from the EU.
VerifiedTradingView integration works properly. Built a EUR/GBP setup with custom indicators and routed the order into my spread betting account from inside the chart.
VerifiedUsing Spreadex from Singapore on the CFD side. Account opening was straightforward and the MT5 connection is stable. EUR/USD spread stays close to 0.6 to 0.9 pips during London hours, which is what I care about for my scalping approach. Would be 5 stars if the mobile charting depth matched the web platform.
VerifiedTrading from Dubai on the CFD account. The spread-only model suits me better than paying per-side commissions. EUR/USD typical at 0.6 to 0.9 pips during London session, competitive for a zero-commission setup. FTSE 100 cash spread at 0.4 points is tighter than my previous broker. The overnight financing at 2.5 percent above SONIA is fine for indices but adds up on share CFDs held longer than a few days. Worth factoring in for any swing position on single names.
VerifiedMT5 connection to the CFD account is solid. I run a simple EA strategy and had zero platform disconnections over three weeks of testing.
Reviews are submitted by verified traders. OpesAdvisors does not edit content but moderates for spam and abuse. Spreadex did not pay for placement.