Spreadex

Spreadex has a reputation for great customer service, which can be vital when problems arise. The trading platform is reliable but may be too simplistic for more advanced traders, although it does cover a considerable number of global markets including ETFs. Their spreads are not the tightest in the industry but they are far from unreasonable and they do offer competitive IMRs, particularly on S&P500 and Commodities, giving leveraged access to the markets. There is no live chat facility but their customer support via their free-phone line is very good. The platform provides guaranteed stops for a small premium and the stop and limit orders can be easily modified within open positions.

They do not offer 24 hour trading but they do have an iPhone app for mobile trading and award winning charting software, recognised at the MoneyAM Financial Awards 2011. Spreadex were also nominated for the 'Spread Betting Company of the Year' at the World Finance Exchanges and Brokers Awards 2011 after winning the 'Best Online Spread Betting Service' in 2009 at the Money AM Financial Awards.

It is also worth noting that Spreadex are the only provider to offer clients financial spread betting, sports spread betting and fixed odds betting from the same account helping clients with multiple interests keep all their trading under one roof.

Spreadex cover a wide range of markets including ETFs and an impressive list of AIM stocks. They cover a fair range of global indices but their list of Shares is limited to the UK, European and US markets.

Their commodity list is separated into Energies, Metals and Softs, but these are limited to include only the major products. Spreadex do, however, provide an extensive list of FX Pairs that includes Majors, Minors, Australasian, Scandinavian and Exotics as well as offering futures on nine major pairs.

Spreadex are one of only two firms who offer AIM stocks for trading. The Spreadex offering is more comprehensive, they offer firms with a market capitalisation of £1million plus and also look to build any AIM stock by request.

• Indices
  
• Shares
  
• 45+ Sport FX Pairs
  
• Commodities, Metals
  
• Bonds/STIRS
  
• ETF/ETC/Trackers
  
• AIM stocks

The trading platform for Spreadex is web based, very intuitive and easy to navigate through their strong range of markets. It is not available for 24 hour trading and does not offer streaming news but it does posses low IMRs, a weekly trading update email and access to live charts.

One downside of the platform is that it does not enable traders to set a stop loss when placing an order. You must first open a position and then put in place your stop-loss or limit-order for risk management. As a trader you do have the option to use a guaranteed stop loss in order to protect against the market 'gapping out' during volatile conditions, and for this you will be charged a 0.5% premium. The charting on offer is fairly advanced and won the award for 'Best Online Charts' at the Money AM Online FinanceAwards 2011.

Spreadex have recently released their iPhone spread betting app. It's fast, secure, easyily navigable and customisable to suit your preferences. It comes with a charting package that is also fully customisable, allowing users to switch between 4 main chart types while making use of technical indicators such as Moving Averages, Bollinger Bands, Parabolic SAR and several others. Traders can use the app to spread bet on shares, indices, commodities, FX, Bonds and Interest Rates while on the move. An excellent addition to the spreadex platform.

Spreadex provide a comprehensive list of FAQs related to their charting package as well as a video tutorial on how to use and make the most of it. They also offer a 'Weekly Financial Diary' feature which comprises of major economic announcements and company reporting dates.

The Spreadex weekly trading update includes a round up of all the latest spread betting news, commenting on key support/resistance levels and technical analysis reports. Their free videos provide an insight into the basics of spread betting and market news but there do not appear to be any trading seminars or webinars available. Examples of trading on Currencies, Bonds/STIRS, Commodities, Indices and Shares are on offer and they have a youtube account with videos for beginners that include 'How to place a Financial Spread Bet' and 'Spread Betting on the FTSE'. Well worth a watch for beginners, if you want to check them out, click here.

Also, Spreadex are offering a selection of spread betting guides that cover a range of topics for free. You can choose to receive your guides via post or in e-book format, whichever suits you most. Simply click the link to get your free spread betting guide.

Spreadex do not offer a demo account. There is no minimum opening deposit for a live account.