Company Summary
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Spreadco , FXCL Broker Comparison
Do you want to know which is the better broker between Spreadco and FXCL ?
In the table below, you can compare the features of Spreadco , FXCL side by side to determine the best fit for your needs.
- Rating
- Basic Information
- Benchmark
- Account Information
- Relevant information
- Relevant exposure
- Rating
- Basic Information
- Benchmark
- Account Information
- Relevant information
- Relevant exposure
2 brokers in total
Rating
Score
Regulatory Status
WikiFX Guarantee
WikiFX Survey
Risk Evaluation
Exposure
Official website
Basic Information
Established(years)
Regulatory license
MT4
MT5
Crypto
Deposit and withdrawal method
Benchmark
environment rating
Transaction Speed
Transaction speed rating
Average transaction speed(ms)
The highest transaction speed(ms)
The highest speed of opening positions(ms)
The highest speed of closing position(ms)
Slowest transaction speed(ms)
The lowest speed of opening positions
(ms)
The lowest speed of closing position(ms)
Trading slippage
Transaction slippage rating
Average slippage
Maximum transaction slippage
Maximum positive slippage
Maximum negative slippage
Transaction Cost
Transaction cost rating
- Average transaction cost (USD/Lot)
Rollover Cost
Rollover cost rating
- Average Rollover Cost (USD/Lot)
Disconnection results
Software disconnection rating
Average disconnection frequency (times/day)
Reconnection time(ms)
Account Information
Accounts
Account name
Products
Deposit REQ
Maximum Leverage
Spread of majors
Forced Liquidation Ratio
Spread Types
Minimum Position
Crypto
Lock postition
Scalping
EA trading
Pin on the left
7.09
Regulated
No guarantee
--
15-20 years
FCA
Not supported
Not supported
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
CFD Account,Spread betting account
shares, commodities, forex, cryptocurrencies
--
--
--
--
--
--
--
Pin on the left
2.21
No Regulation
No guarantee
--
5-10 years
VFSC
Supported
Not supported
BTC,Online bank (Paytrust),PerfectMoney,Local Deposit,Dragonpay,FasaPay
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
ECN Pro account,Volume Cash account,Live Contest account,Interbank Cent account,Interbank Standard account,Start account,Standard account,Cent account
--
--
Forex, metals: up to 1:300 Indices: up to 1:100 Crypto: up to 1:10
from 0.1
80.00
Floating
0.01
--
Score
Regulatory Status
Regulated
No Regulation
FXCL BrokerRelevant information
Spreadco 、 FXCL BrokerRelevant exposure
Which broker is more reliable?
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of spreadco, fxcl lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Forex broker introduction
spreadco
| Registered Country/Region | United Kingdom |
| Regulation | FCA |
| Minimum Deposit | $200 |
| Maximum Leverage | 1:30 |
| Minimum Spreads | 0.8 pips on the EUR/USD pair |
| Trading Platform | Web Platform, Mobile Apps |
| Demo Account | Yes |
| Trading Assets | Forex, Equities, Commodities, ETFs, Indices |
| Payment Methods | Bank wire transferDebit and credit cardSkrill |
| Customer Support | 5/24, Email, Phone |
General Information & Regulation
Spread Co Limited is a limited liability company registered in England and Wales with its registered office at 22 Bruton Street, London W1J 6QE. Company No. 05614477. Spread Co is an online spread betting and CFD broker specialising in forex, commodities, equities and indices. Spread Co Limited is authorised and regulated by the Financial Conduct Authority with regulatory license no. 446677.
Market Instruments
With a Spread Co account, investors can trade on a wide range of global markets, from major indices and global equities to foreign exchange currency pairs, commodities, crude oil, precious metals, and bitcoin, to meet a wide range of investment needs.
Account Types
Spread Co has two different types of accounts, the spread trading account and the CFD account. Minimum deposits depend on account types. To open a spread trading account, traders are required a minimum initial deposit of £200 and £250 for a CFD account.
Demo Account
Spread Co does offer a demo trading account for beginners to practice forex trading in a 100% risk-free environment. The Spread Co demo account does not have a specific expiry date. Some features of the Spread Co demo accounts include the following:
Practice trading with £25,000 virtual funds
Develope you strategies with no risk
Learn how risk management tools work
Leverage
Leverage level offered by Spread Co do depends on the regulatory requirement you trading with and the brokerage operates. This applies due to various safety measures applied to eliminate the risks involved while trading, specially for retail traders.
With Spread Co, LverageTrading leverage vary by different instruments:
1:30 for Forex currency pairs,
1:10 for commodities
1:20 for indices
1:5 for enquities
Spreads & Commissions
Spread Co offers commission-free trading, and the broker only takes its cut from the spread. EURUSD spreads start from 0.8 pips, 4 pips for US Crude Oil, 4 pips for Gold, and 40 pips for Bitcoin/USD.
There are no other fee indicated for Spread Co, but traders are advised to verified fees pertainning to the following：
Account maintenance and management
Inactivity fees and Conversion fees
Trading Platforms
What Spread Co offers traders is not the MT4 trading platform, which is currently the most popular one, but its in-house developed online trading platform. This online trading platform requires no download and allows traders to customize their trading experience for experienced traders and novice traders. Anyway, lack of widely used MT4 & MT5 trading platforms really a drawback for such a big broker.
Deposit and Withdrawal of Spread Co
Spread Co allows traders to deposit and withdraw funds from their investment accounts via the following methods:
Credit Card;
UK Credit Card;
Bank Transfer;
Skrill
Spread Co does not charge traders any fees for withdrawals or deposits . Spread Co has no limit to how much you can fund via the platform, but the maximum amount which it can accept for your first payment is GBP500 via the phone. Successfully authorized payments will be available immediately.
Spread Co suppports the following deposit currencies when deposits and withdrawals are made to end from the trading account: GBP, USD, EUR.
Customer Support
Customer services are available in several options: email, whatapp, Live chat, and telephone.
Here are some contact details:
Telephone: 0800 078 9398
Email: info@spreadco.com
Or you can also follow this broker on some social media platforms, such as Facebook, Twitter, and Youtube.
Educational Resources
Spread Co provides clients support through relationship managers that provide assistance as well as providing eucation. The broker provides educational library with multiple guides and video updates along with the market overview, platform, news and economic calendars.
Pros & Cons
| Pros | Cons |
| FCA-regulated | Additional non-trading fees |
| Competitive trading conditions | Limited product portfolios |
| 7/24 customer support | No Ilslamic account provided |
| Demo accounts available | Withdrawal fees are charged |
| No deposit fees | Conservative leverage |
| Commission-free CFD trading |
Frequently Asked Questions
Is Spread Co legal ？
Yes, Spread Co is a legal broker that adheres to rules and regulations stipulated by the FCA.
Does Spread Co offer a demo account？
Yes, Spread Co does offer a demo account that is valid for 2 weeks.
What is the maximum trading leverage offered by Spread Co？
The maximum trading leverage offered by Spread Co is up to 1:30.
What are the deposit and withdrawal methods supported by Spread Co ？
Payment methods supported by Spread Co include Bank Wire Transfer, Credit/Debit Cards, Skrill.
What is the overall rating for Spread Co ？
The overall rating for Spread Co is 7.06/10 based on its License Index, Business Index, Risk Management Index, Software Index and Regulatory Index.
fxcl
| FXCLReview Summary | |
| Founded | 2006 |
| Registered Country/Region | Saint Vincent and the Grenadines |
| Regulation | VFSC |
| Market Instruments | Forex, indices, cryptocurrencies, metals |
| Demo Account | ✔ |
| Leverage | Up to 1:2000 |
| Spread | Low |
| Trading Platform | MT4 Margin WebTrader |
| Min Deposit | $1 |
| Customer Support | Email: support@fxclearing.com |
| Registered office: Plot 54368 Western Commercial Road, The Hub, Itowers, Cbd, Gaborone, Botswana. | |
FXCL Information
FXCL, founded in 2006, is a forex brokerage registered in Saint Vincent and the Grenadines. It is regulated by VFSC. Its current status is revoked. It charges no fees or commissions. Its leverage is up to 1:2000.
Pros and Cons
| Pros | Cons |
| VFSC regulated | Limited customer support options |
| Wide range of currency pairs and trading instruments | Fixed spreads |
| Low minimum deposit of $1 | No Islamic trading account |
| Eight types of trading accounts to choose from | No MT5 supported |
| Generous leverage up to 1:2000 | No phone number information offered |
| Competitive spreads and low trading fees | |
| MT4 trading platform and webtrader supported | |
| Copy trading available | |
| Demo account available |
Is FXCL Legit?
FXCL is regulated by VFSC in Vanuatu. Its current status is revoked.
| Regulated Country | Regulated Authority | Regulated Entity | License Type | License Number | Current Status |
| Vanuatu | VFSC | FXCL Markets Ltd | Retail Forex License | 14610 | Revoked |
What Can I Trade On FXCL?
FXCL offers traders forex, indices, cryptocurrencies, metals to trade.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Indices | ✔ |
| Metals | ✔ |
| Cryptocurrencies | ✔ |
| Commodities | ❌ |
| Stocks | ❌ |
| Futures | ❌ |
| Options | ❌ |
Account Types
FXCL offers 4 different types of accounts to traders - Start Account, Cent Account, Standard Account, Interbank Cent Account, Interbank Standard Account, ECN Pro Account, Live Contest Account, Volume Cash Account. It also provides demo accounts.
| Account Type | Start Account | Cent Account | Standard Account | Interbank Cent Account | Interbank Standard Account | ECN Pro Account | Live Contest Account | Volume Cash Account |
| Leverage | 1:2000 | 1:1000 | 1:500 | 1:500 | 1:500 | 1:300 | 1:1000 | 1:1000 |
| Spreads | Floating for full spread list | Fixed for fufor full spread list | Fixed for fufor full spread list | Floating starting from 1.1 pip with a 5-digit price feed for full spread list | Floating,starting from 1.1 pip with a 5-digit price feed for full spread list | Floating, starting from 0.1 pip with a 5-digit price feed | Floating for full spread list | Floating for full spread list |
| Position Size | 0.01-1.00 (standard lot) | 0.01-200 (micro lot) | 0.01-2.00 (standard lot) | 0.01-500 (micro lot) | 0.01-5.00 (standard lot) | 0.01-50.00 (standard lot) | 0.01-3.00 (standard lot) | 0.01-3.00 (standard lot) |
| Execution | Market | Instant | Instant/Market | Market | Market | Market | Automatic Market Execution | Automatic Market Execution |
FXCL Fees
FXCL's spreads are as low as 0 pips. FXCL charges low commissions. It charges $3 per lot for forex, metals, indices 0.15% per lot of Crypto when transaction happens in ECN Account and $1.5 per lot for forex, metals when transaction happens in Live Contest Account and Volume Cash Account. The min deposit is $1.
Trading Platform
FXCL's trading platform is MT4 Margin WebTrader, which supports traders on PC, Mac, iPhone and Android.
| Trading Platform | Supported | Available Devices | Suitable for |
| MT4 Margin WebTrader | ✔ | Web, Mobile | Beginner |
| MT5 | ❌ |
Deposit and Withdrawal
FXCL offers a lot of deposit and withdrawal methods.
Deposit
| Method | Processing Time | Fees |
| Online bank (Asiabank) | Instant | N/A |
| Crypto (Alphacoins) | Instant | N/A |
| PerfectMoney | Instant | Low fees |
| Local Deposit | Up to 1 business day | Low fees |
| FasaPay | Quick | FXCL provides full fee coverage for all Fasapay deposits |
| Dragonpay | Instant | N/A |
Withdrawal
| Method | Processing Time | Fees |
| Online bank (Asiabank) | Instant | N/A |
| Crypto (Alphacoins) | Instant | N/A |
| PerfectMoney | Instant | Low fees |
| Local Deposit | Up to 1 business day | Low fees |
| FasaPay | Quick | Low fees |
| Dragonpay | Instant | N/A |
Copy Trading
FXCL's copytrading offers an opportunity to automatically follow good traders and monitor the markets.
Any FXCL client may open an ECN Copy Pro account as a Follower (hereinafter, Follower‘s Account).In order to open an ECN Copy Pro account as a Signal Provider (hereinafter, Provider’s Account), the client should verify the Traders Cabinet first and provide a link to his/her previous trading results on Myfxbook, MQL5 or FX Blue resource or upload an MT4 statement from his/her previous trading account (any account type from any broker is allowed).
Are the transaction costs and expenses of spreadco, fxcl lower?
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive spreadco and fxcl are, we first considered common fees for standard accounts. On spreadco, the average spread for the EUR/USD currency pair is -- pips, while on fxcl the spread is from 0.1.
Which broker between spreadco, fxcl is safer?
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
spreadco is regulated by FCA. fxcl is regulated by VFSC.
Which broker between spreadco, fxcl provides better trading platform?
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
spreadco provides trading platform including CFD Account,Spread betting account and trading variety including shares, commodities, forex, cryptocurrencies. fxcl provides trading platform including ECN Pro account,Volume Cash account,Live Contest account,Interbank Cent account,Interbank Standard account,Start account,Standard account,Cent account and trading variety including --.