What is Spreadex？

Spreadex is a UK-based brokerage firm, established back in 1999 and focused on a financial trading service providing, as well spread betting and sports betting, through its maintained office in London. Spreadex first moved into the online market in 2006 when it launched its website. Spreadex is regulated by the Financial Conduct Authority (FCA, registration number 190941) in relation to the spread betting services it offers.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

Spreadex Alternative Brokers

There are many alternative brokers to Spreadex depending on the specific needs and preferences of the trader. Some popular options include:

• FP Markets - for traders seeking access to a wide range of trading platforms, advanced charting tools, and competitive pricing across various financial markets.

• LiteForex - for traders looking for user-friendly MetaTrader platforms, a variety of analysis tools, and a range of trading instruments to choose from.

• Global Prime - for traders who prioritize institutional-grade execution, access to multiple trading platforms, and a focus on transparent and reliable trading conditions.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is Spreadex legit ？

Spreadex appears to be a legitimate broker for individuals interested in trading. The company is regulated by the United Kingdom Financial Conduct Authority (FCA, No. 190941), which adds a layer of safety and transparency for investors. Additionally, the fact that Spreadex offers clients segregated bank accounts can further enhance safety and security for their funds.Having many years of experience in the industry can also be seen as a positive sign, as it suggests that the company has a solid track record and established reputation.

However, it is always recommended for traders to do their own due diligence and research any potential broker before investing funds. Reviews and feedback from other traders can be helpful in determining the safety and legitimacy of a broker, as well as checking for any past incidents of fraud or other issues. Additionally, testing out the available trading platforms and customer support options can help to determine if a broker is a good fit for your individual trading needs and preferences.

Market Instruments

Spreadex offers access to over 15,000 tradable assets, covering a wide variety of markets and instruments. This includes popular markets such as indices, shares, forex, commodities, and bonds, as well as interest rates, exchange traded funds, options, cryptocurrencies and IPOs .

• Indices - Trade futures or daily contracts on a global selection of indices with tight spreads from 0.6 points. Access major markets worldwide.

• Equities - Buy or sell shares of thousands of companies across the globe. Specialized capabilities in trading small-cap stocks.

• Forex - Spot and futures forex pairs spanning hundreds of currencies. 24/5 trading from Sunday open to Friday close.

• Commodities - Speculative opportunities across metals (gold, copper), energy (Brent crude, natural gas), and soft commodities (cotton, corn).

• Fixed Income - Treasury products including UK Gilts, US T-Bonds, and interest rates like Short Sterling, Eurodollar.

• ETFs - Gain index exposure efficiently by trading bundled equity ETFs without buying all constituent stocks.

• Options - Limited online options suite complemented by broader phone trading capabilities.

• Cryptocurrencies - Speculate on major crypto prices like Bitcoin and Ether through spread bets.

• IPOs - Stay informed on upcoming and past initial public offerings for new trading prospects.

Accounts

There seems only one single account available for all traders, which is the Standard account. To open a real account just with the minimum deposit of $1, which sounds a good opportunity for most traders to get started.

Leverage

As a UK brokerage firm, Spreadex operates within regulatory restrictions for leverage levels. The maximum leverage offered to retail traders is 1:30 for major currency pairs and lower for other instruments. This limitation is in place to protect investors from significant losses and ensure responsible trading practices.

Professional traders, however, may have access to higher leverage ratios once their status is confirmed and specified conditions towards spread betting and trading services are met. This can provide experienced traders with the opportunity to increase their potential profits, but it should be noted that higher leverage also carries higher risk.

Overall, Spreadex's leverage offering is in line with regulatory restrictions and aims to promote responsible trading practices. Traders can still access a range of markets and instruments, but should be aware of the potential risks involved with higher leverages.

Spreads & Commissions

Spreadex offers variable spreads that can fluctuate throughout the day depending on market volatility. Major currency pairs such as EURUSD and GBPUSD have very low spreads of 0.6 and 0.9 pips respectively, which is competitive with other brokers in the industry. Spreads for minor and exotic currency pairs are comparable to most other brokers as well.

For all markets apart from shares, the fee is simply the spread between the buy and sell price. However, for shares, there is an interest rate charge applied to the total value of the stock. This fee typically amounts to 1.25%, but it can increase to 1.5% for smaller stocks and those with less liquidity.

There is no information available on any commissions charged by Spreadex. However, the competitive spreads and lack of hidden fees make Spreadex a potentially attractive option for traders looking to minimize their costs.

Below is a comparison table about spreads and commissions charged by different brokers:

Please note that this information may have changed since my last knowledge update, and it's always recommended to verify the latest details with the respective brokers directly.

Trading Platforms

Spreadex offers a range of trading platforms to cater to traders' different preferences and needs. The online platform is Spreadex's flagship trading platform, featuring a user-friendly interface and a range of tools and features. The platform allows traders to access all of Spreadex's tradable assets and markets, as well as providing access to a range of analysis tools and educational resources.

Mobile trading is available through Spreadex's mobile app, which is available for both iOS and Android devices. The app provides traders with a convenient and flexible way to access their accounts and trade on-the-go, with many of the same features and tools as the online platform.

Finally, Spreadex also offers integration with TradingView, a popular third-party charting software. This can allow traders to access advanced charting features and tools, as well as collaborate with other traders in the TradingView community.

Overall, Spreadex's range of trading platforms provides traders with a range of options to suit their individual needs and preferences, whether they prefer a desktop platform, mobile app, or third-party software integration.

See the trading platform comparison table below:

Deposits & Withdrawals

Spreadex accepts deposits and withdrawals via Credit Card, Bank Transfer, Cheque, and Direct Debit. However, it does not currently accept deposits from E-Wallets such as Moneybookers, Paypal, Neteller, Ukash, etc. Deposits made by debit card under £50 are subject to a £1 fee. Spreadex does not accept any third-party payments.

Spreadex minimum deposit vs other brokers

International bank transfers and bank transfers in currencies other than sterling will be subject to additional charges. The minimum withdrawal amount is £50 cleared funds on your trading ledger that is not being used to support the margin/NTR on any open positions. If the available amount is less than £50, you will only be able to withdraw the full amount.

Spreadex offers card withdrawals which you'll receive within 2 hours of your withdrawal being approved. However, some card issuers may be unable to accept funds through this method, and in such circumstances, payments back to these cards will take 2-5 days to be received. Bank transfers should be in your account within 2 working days.

Overall, Spreadex's deposit and withdrawal options are limited compared to some other brokers, but the available options are low-fee and relatively quick processing times. It is recommended for traders to carefully review the available deposit and withdrawal options to ensure they meet their individual needs and preferences before investing funds.

Customer Service

Spreadex customer support channels available includes live chat, phone support, and email support. The financial desk can be reached at +44 (0)1727 895 151 while general inquiries can be directed to +44 (0)1727 895 000. The email address for customer service is info@spreadex.com.

Traders can also follow Spreadex on various social networks, including Twitter, Facebook, Instagram, YouTube, and LinkedIn. This can provide a convenient way to stay up-to-date on news and updates from the broker, as well as connecting with other traders and the Spreadex community.

Note: These pros and cons are subjective and may vary depending on the individual's experience with Spreadex's customer service.

Education

Spreadex offers a range of educational resources to support traders, including a video training center, account FAQs, charting FAQs, trading FAQs, and a financial spread betting glossary. These resources can provide traders with a solid foundation of knowledge and help them develop their skills and understanding of the trading markets and instruments.

The video training center offers a library of educational videos covering topics such as market analysis, technical analysis, and risk management. Traders can watch these videos at their own pace and access them at any time.

The account FAQs, charting FAQs, and trading FAQs provide answers to common questions and concerns that traders may have about using Spreadex's platform and services. These resources can provide guidance and clarity for traders who are new to the platform or may be experiencing technical issues.

Finally, the financial spread betting glossary provides definitions and explanations of key terms and concepts related to spread betting and trading. This can be a valuable resource for traders who are new to the industry or may be unfamiliar with some of the terminology and jargon used in trading.

Overall, Spreadex's educational resources can provide traders with a solid foundation of knowledge and help them develop their skills and understanding of the trading markets and instruments.

Conclusion

In conclusion, Spreadex is a regulated financial spread betting and CFD provider offering various trading instruments. With competitive spreads, a user-friendly online platform, and mobile trading capabilities, Spreadex aims to cater to traders' needs. As with any trading platform, it's essential to review the latest information, terms, and conditions to make an informed decision that suits your specific requirements.

Frequently Asked Questions (FAQs)

Is Spreadex legit？

Yes. It is regulated by United Kingdom Financial Conduct Authority (FCA, No. 190941).

At Spreadex, are there any regional restrictions for traders？

Yes. The information on their website is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any law or regulatory requirement.

Does Spreadex offer industry leading MT4 & MT5？

No. Instead, it offers Online platform, Mobile trading, and TradingView.

What is the minimum deposit for Spreadex？

The minimum initial deposit to open an account is $1.

Is Spreadex a good broker for beginners？

Yes. It is a good choice for beginners because it is regulated well and has many years experience in the industry, as well as offers various trading instruments with competitive trading conditions on multiple trading platforms.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

What is Amana Capital？

Amana Capital is a global brokerage firm registered in the United Arab Emirates that provides online trading services in forex, commodities, and other assets. The company offers a range of trading platforms and tools, including MetaTrader4 and MetaTrader5, to suit the needs of a wide range of investors. The firm is regulated by various financial authorities, including the Financial Conduct Authority (FCA) in the UK and the Dubai Financial Services Authority (DFSA) in the UAE.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

Amana Capital Alternative Brokers

There are many alternative brokers to Amana Capital depending on the specific needs and preferences of the trader. Some popular options include:

• OctaFX - offers competitive spreads and low commissions, making it a good choice for experienced traders.

• FXOpen - With a user-friendly website and mobile app, FXOpen is a good option for beginner traders looking for easy access to the markets.

• Hantec Markets - offers a range of trading platforms and tools for both novice and experienced traders, making it a versatile choice for investors of different levels.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is Amana Capital Safe or Scam？

The Group comprises four main entities- Amana Financial Services-UK, Amana Capital-Lebanon, Amana Capital-Cyprus, and SouqElmal.com – UAE and each entity is regulated and authorized by different reputable regulatory bodies i.e. FCA, BDL and CySec respectively.

• Amana Financial Services UK Ltd is authorized and regulated by the Financial Conduct Authority (FCA, suspicious clone) Firm Reference Number 605070;

• Amana Financial Services (Dubai) Limited is authorized and regulated by the Dubai Financial Services Authority (DFSA) (License number F003269);

• Amana Capital LTD is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC, suspicious clone), License Number 155/11;

• Amana Capital SAL is authorized and regulated by the Lebanese Capital Markets Authority (CMA) as a Financial Intermediary Institution (Authorization number 26).

Though Amana Capital has valid DFSA and CMA regulatory license, it is important to remember that investing always carries some level of risk and it is recommended to do thorough research before investing in any financial service or product.

Market Instruments

Amana Capital offers a wide variety of market instruments to investors. These include over 1,000 commission-free products across global, local, and regional markets. This means that investors can access a diverse range of financial instruments through a single platform. Some of the markets that Amana Capital covers include cryptocurrencies, stocks, exchange-traded funds (ETFs), commodities, and currencies.

Cryptocurrencies, in particular, have become increasingly popular in recent years, and Amana Capital offers 100+ commission-free cryptos to investors.

In addition to global stocks, ETFs are another popular investment option, and Amana Capital offers a range of options to suit investor preferences.

Commodity trading is another area where Amana Capital has expertise. Investors can trade in a variety of commodities, including precious metals, agricultural products, and energy commodities such as crude oil. This offers investors the opportunity to hedge against inflation and currency fluctuations, among other factors.

Finally, Amana Capital offers a range of currency trading options, with access to a bunch of global currency pairs. This includes major currency pairs such as the USD/EUR and USD/JPY, as well as emerging market currencies.

Accounts

Live account

Amana Capital offers a range of account types to suit the needs of different types of investors, with a minimum deposit of $50. The Forex & CFDs account offers access to trading in Forex, commodities, indices, and cryptocurrencies. This account is ideal for those who mainly trade currencies and CFDs.

For active traders who frequently trade in high volumes, Amana Capital offers an Active Traders account. The Share account is for investors who mainly trade in stocks. The Elite Service account is a premium account that offers a range of benefits, including access to a dedicated account manager and exclusive market analysis. This account is suited for high net worth individuals who require personalized service. Finally, Amana Capital offers a Copy Trading account, which allows investors to automatically copy the trades of experienced traders. This is an ideal option for those who are new to trading or who prefer a more passive approach to investing.Demo account

Amana Capital also offers demo accounts that allow investors to trade instruments without risking real money. Beginners can learn the basics of trading, or experienced traders can use it to practice their trading strategies. The Amana Capital demo account is available for 30 days, on both MT4 and MT5 desktop and mobile apps.

Leverage

Amana Capital offers leverage on its trading accounts, which can be used to amplify potential returns but also increases the risks of trading. By default, the leverage for trading currencies, metals, and commodities is set at 1:100. This means that for every 1in trading capital,traders have the option of taking positions up to 100 in value.

However, different assets have different leverage limits. For shares and cryptocurrencies, for example, the leverage varies between 1:2 and 1:20, depending on the asset being traded. It is important for investors to be aware of the specific leverage limits for different assets and to adjust their trading strategies accordingly.

It is also worth noting that traders based in Europe who have accounts with Amana Capital will need to comply with ESMA regulations, which require maximum forex leverage of 1:30. This is intended to protect retail investors from excessive risk-taking, and traders should be aware of these limits when making trading decisions. Ultimately, the level of leverage that is appropriate for any given trader will depend on their individual risk tolerance and investment objectives.

Spreads & Commissions

Amana Capital offers floating spreads on its trading accounts, which means that the spreads can change depending on market conditions. Forex trading only charges from spreads, meaning there are no additional commissions.

For indices, energies, and commodities trading, a commission of USD 5 per lot is charged, with a minimum commission of USD 15 for each trading of stock CFDs. This commission structure can vary depending on the asset being traded and investors should check with Amana Capital for the specific rates for each asset.

Below is a comparison table about spreads and commissions charged by different brokers:

Please note that these values are approximate and may vary depending on market conditions and the type of account you have with each broker. It's always recommended to check with the respective brokers for the most up-to-date and accurate information on spreads and commissions.

Trading Platforms

Amana Capital offers two trading platforms to its users – MetaTrader4 (MT4) and MetaTrader5 (MT5). These platforms are suitable for novice and experienced traders alike and offer advanced technical analysis tools and automated trading functions (EA), as well as mobile applications.

MT4 is a user-friendly platform that allows traders to view orders, transactions, and account details, and keep track of the latest market conditions. It provides a flexible trading environment and various technical analysis tools, making it a popular choice for traders of all levels.

MT5 is an optimized version of MT4 and is the latest generation of trading platforms. It offers a more intuitive and concise interface while providing more powerful analysis functions, including various trend lines, icons, and other graphical objects. MT5 also includes 12 new chart time frames and a built-in economic calendar, making it easier for traders to make informed decisions.

Both MT4 and MT5 platforms allow users to place orders, monitor the market, view account details, copy transactions, and rely on automated trading strategies. These platforms are available on PC/Mac, mobile phones, tablets, and other devices, allowing traders to access the markets from anywhere at any time.

Amana Capital also offers a mobile app, allowing traders to access the markets and their accounts on-the-go. The app provides access to all the trading tools and features of the MT4 and MT5 platforms and is available for download on both iOS and Android devices.

Overall, Amana Capital's trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders.

See the trading platform comparison table below:

Please note that this table provides a general overview of the trading platforms offered by each broker. The features and availability of specific platforms may vary, so it's recommended to visit the respective broker's website for more detailed information.

Deposits & Withdrawals

Amana Capital offers a range of popular deposit and withdrawal options for its investors. Deposits can be made via bank wire transfer, international credit/debit cards, UnionPay, Neteller, Skrill, and Epay/FasaPay. Bank wire transfers typically take 3-5 working days and incur a fee of £6. However, deposits made through international credit/debit cards, UnionPay, Neteller, Skrill, and Epay/FasaPay are instantly received.

Withdrawals can be made via bank wire transfer, international credit/debit cards (bought by Amana), bank debit cards (bought by Amana), Neteller, and Skrill. Bank wire transfers do not incur a fee, while international credit/debit cards and bank debit cards, as well as Neteller and Skrill, have handling fees ranging from 2% to 15%, depending on the method used and the currency.

Investors should also be aware of any fees or limitations placed on deposits and withdrawals by their banks or payment providers. Overall, Amana Capital offers a convenient and varied selection of deposit and withdrawal methods to suit the needs of its global client base.

Amana Capital minimum deposit vs other brokers

Fees

Amana Capital does not charge any deposit/withdrawal fees or inactivity fees. This means that investors can deposit and withdraw funds from their accounts without incurring any additional costs. Additionally, there are no fees for holding overnight positions in certain assets, such as US stocks, US ETFs, regional stocks, and cryptocurrencies.

However, for derivative products, overnight fees do apply. These fees are calculated based on the size of the position and the holding period. It is important for investors to be aware of the specific fees associated with each asset or product they trade and to factor these into their overall trading costs.

See the fee comparison table below:

Customer Service

Amana Capital offers a range of customer service options to its investors. Customers can get in touch 24/5 with the broker via live chat, phone, email, online messaging, WhatsApp, Telegram, and Messenger. This provides a range of options for investors to reach out for help and support.

In addition to these contact methods, the broker also has an FAQ section on its website that addresses some of the most common questions and concerns that investors may have. This helps to streamline the support process and allows customers to quickly and easily find answers to their queries.

Amana Capital also maintains a presence on several social networks, including Facebook, Twitter, Instagram, LinkedIn, YouTube, and TikTok. Customers can follow the broker on these platforms for news, updates, and insights into the financial markets. This also provides an additional way for customers to interact with the broker and ask questions.

Facebook: https://www.facebook.com/chooseamana

Twitter: https://twitter.com/chooseamana

Instagram: https://www.instagram.com/chooseamana/

YouTube: https://www.youtube.com/chooseamana

TikTok: https://www.tiktok.com/@chooseamana

Overall, Amana Capital's customer service is considered reliable and responsive, with various options available for traders to seek assistance.

Note: These pros and cons are subjective and may vary depending on the individual's experience with Amana Capital's customer service.

User Exposure on WikiFX

On our website, you can see that reports of unable to withdraw and scams. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

Education

Amana Capital offers a range of educational resources to help investors learn about trading and improve their skills. These resources include the Basics of Trading, a video library, a blog library, and investor tutorials.

The Basics of Trading is a comprehensive guide that covers all the essentials of trading, including market analysis, technical indicators, risk management, and trading strategies. This guide is suitable for beginners and provides a solid foundation for those who want to start trading.

The video library contains a variety of educational videos that cover a range of topics, such as technical analysis, chart patterns, and trading psychology. These videos are designed to help investors learn at their own pace and provide practical advice and tips for successful trading.

The blog library is regularly updated with articles and analysis on the latest market trends and events. This resource can be helpful in keeping investors up-to-date with the latest developments in the financial markets, as well as providing insights into trading strategies and techniques.

Finally, investor tutorials are available to help investors learn how to use the trading platforms offered by Amana Capital, such as MT4 and MT5. These tutorials cover everything from basic platform navigation to more advanced trading functionalities.

Overall, Amana Capital's educational resources provide a comprehensive suite of tools for investors to learn about trading and improve their skills. This can be helpful for both novice and experienced traders looking to improve their performance in the financial markets.

Conclusion

To sum up, Amana Capital offers a wide range of trading instruments, a comprehensive suite of trading platforms, and rich educational resources. The broker is regulated by various financial authorities and provides a transparent and reliable trading environment. However, this broker has received some reports of unable to withdraw and scams. It's important for investors to do their own research and due diligence before choosing a broker, and to be aware of any reports of fraudulent activity or issues with withdrawal.

Frequently Asked Questions (FAQs)