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.

What is LMAX Group？

LMAX Group is a UK-based multilateral trading facility (MTF) that offers forex and cryptocurrency trading to retail and institutional clients. It was founded in 2010 and is regulated by the Financial Conduct Authority (FCA) and Cyprus Securities and Exchange Commission (CYSEC). LMAX is known for its transparent and fair execution model, as well as its low latency and high-speed trading technology. The company's headquarters are located in London, and it has additional offices in New York, Tokyo, and Hong Kong.

What Type of Broker is LMAX Group？

LMAX is an electronic communication network (ECN) broker that operates a multilateral trading facility (MTF) for forex and cryptocurrency trading. It is a pure agency broker, which means it does not take positions against its clients and earns revenue solely from commissions and fees. LMAX provides institutional and retail traders with deep liquidity, fast execution, and transparent pricing through its proprietary trading platform, LMAX Global.

Pros & Cons

LMAX has several advantages, such as being a regulated broker, offering transparent and direct market access, providing a range of trading instruments, and offering a professional trading platform.

On the other hand, LMAX has some drawbacks, including limited account types and high minimum deposit requirements.

Note: This table is not an exhaustive list of all the pros and cons of LMAX and is only meant to provide a general overview.

Overall, LMAX is a suitable choice for experienced traders who value direct market access and professional trading tools.

LMAX Group Alternative Brokers

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

• IG

• Saxo Bank

• CMC Markets

• Admiral Markets

• Pepperstone

IG, Saxo Bank, and CMC Markets are all well-established and reputable brokers, with strong regulatory oversight and a range of trading instruments and platforms available to their clients. Admiral Markets and Pepperstone are both popular among traders for their low spreads, fast execution speeds, and user-friendly platforms.

Some traders may prefer brokers with a wider range of trading instruments than what LMAX offers, and these alternative brokers may fit the bill. Additionally, some traders may prefer brokers with more robust educational and research resources, and may find these alternative brokers more suitable in that regard. Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is LMAX Group Safe or Scam？

As a regulated broker by reputable financial authorities such as FCA and CySEC, LMAX is considered a reliable broker. The company also prioritizes the security of its clients' funds by keeping them in segregated accounts and offering negative balance protection.

How are you protected？

Note that this table is for informational purposes only and is not exhaustive. It is important to conduct your own research and due diligence when choosing a broker.

Our Conclusion on LMAX Group Reliability:

LMAX is a highly regulated and reputable broker that takes the security of its clients' funds seriously. It is regulated by the FCA and CYSEC, and it implements various measures to ensure the safety of its clients' funds, such as holding them in segregated accounts and offering negative balance protection. Overall, LMAX appears to be a reliable and trustworthy broker.

Market Instruments

LMAX provides access to a range of financial instruments across various asset classes, including:

• Forex: Major, minor, and exotic currency pairs

• Indices: CFDs on major global indices, including UK100, GER30, US30, and more

• Commodities: Precious metals such as gold and silver, as well as energy products like crude oil and natural gas

• Cryptocurrencies: CFDs on Bitcoin, Ethereum, Litecoin, and Ripple

• It is important to note that the range of trading instruments may vary depending on the specific entity of LMAX and the jurisdiction in which it operates.

Accounts

LMAX offers different account types, each with different features and benefits:

• LMAX Global Account: This account is designed for institutions, hedge funds, asset managers, and professional traders. It offers access to the LMAX Global trading platform, deep liquidity, and low latency execution.

• LMAX Professional Account: This account is designed for experienced traders and offers access to the LMAX Exchange central limit order book, low latency execution, and competitive pricing.

• LMAX Prime Account: This account is designed for brokers, banks, and other financial institutions that want to access LMAX Exchange liquidity and offer it to their clients. It offers deep liquidity, low latency execution, and access to a range of trading tools and services.

• LMAX Interbank Account: This account is designed for banks and other financial institutions that want to access LMAX Exchange liquidity and offer it to their clients. It offers deep liquidity, low latency execution, and access to a range of trading tools and services.

All of these accounts have different minimum deposit requirements and fee structures.

Leverage

The maximum leverage offered by LMAX varies based on the account type and the asset being traded. For example, the maximum leverage for forex trading is up to 1:100, while for metals and commodities, it is up to 1:50.

It's important to note that leverage can increase both potential profits and losses, so it should be used with caution.

Spreads & Commissions

LMAX offers a variable spread on EUR/USD, which can start from as low as 0.2 pips during peak trading hours. However, the average spread is usually around 0.5-1 pip. It's worth noting that the spread can widen during periods of low liquidity or high market volatility.

The commission fee varies depending on the account type and the trading volume of the client. Here is a breakdown of the commission fees for LMAX:

LMAX Global: The commission for forex pairs ranges from $2.5 to $4.5 per $100,000 traded, depending on the trading volume. For indices, the commission ranges from $1.25 to $5 per lot traded, depending on the instrument and the trading volume.

LMAX Professional: The commission for forex pairs ranges from $2 to $3 per $100,000 traded, depending on the trading volume. For indices, the commission ranges from $1 to $3 per lot traded, depending on the instrument and the trading volume.

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

Note that the above information may vary depending on the account type, trading platform, and other factors. It's always a good idea to check with the broker directly for the most up-to-date and accurate information.

Trading Platforms

LMAX offers its proprietary trading platform called LMAX Global, which is a web-based platform accessible from any device with an internet connection. It also offers connectivity through industry-standard APIs, allowing clients to connect directly to LMAX Global's liquidity pool through third-party platforms.

Additionally, LMAX offers the MetaTrader 4 platform for traders who prefer using a familiar interface.

See the trading platform comparison table below:

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

Deposits & Withdrawals

LMAX offers a variety of deposit and withdrawal methods, including:

Payment Options:

• Bank Wire Transfer

• Debit/Credit Cards (Visa and Mastercard)

• Skrill

• Neteller

LMAX does not charge any deposit or withdrawal fees. However, fees may be charged by the payment provider or bank involved in the transaction.

Minimum deposit requirement

The minimum deposit requirement for LMAX varies depending on the type of account. The LMAX Global account has a minimum deposit requirement of $1,000, while the LMAX Professional account has a minimum deposit requirement of $10,000.

LMAX Group minimum deposit vs other brokers

LMAX Group Money Withdrawal

To withdraw funds from LMAX, you need to follow these steps:

Step 1: Log in to your LMAX account and go to the “My Account” section.

Step 2: Click on the “Withdraw Funds” button.

Step 3: Select the account you want to withdraw from and enter the amount you wish to withdraw.

Step 4: Choose your preferred withdrawal method and fill out the necessary information.

Step 5: Submit your withdrawal request.

LMAX processes withdrawal requests within one business day, and the time it takes for the funds to reach your account will depend on the withdrawal method you choose.

Fees

LMAX charges various fees for trading and account maintenance. Here is an overview of some of the fees charged by LMAX:

• Swap Fees: LMAX charges a swap fee for positions held overnight. The swap fee is based on the interest rate differential between the two currencies of the trading pair.

• Deposit/Withdrawal Fees: LMAX does not charge any deposit or withdrawal fees. However, fees may be charged by the payment provider or bank involved in the transaction.

• Inactivity Fee: LMAX does not charge any inactivity fee.

It's important to note that the fees charged by LMAX may vary depending on the type of account and trading instrument. Traders are advised to check the latest fee schedule on the LMAX website before trading.

See the fee comparison table below:

Customer Service

LMAX provides 24/7 customer service through phone, email, and live chat. You can also follow LMAX on some social networks such as LinkedIn, Facebook and YouTube.

Overall, LMAX's customer service is considered to be of good quality with responsive and helpful agents.

It's worth noting that the quality of customer service can be subjective and may vary from client to client. However, this table provides a general overview of the strengths and weaknesses of LMAX's customer service.

Education

LMAX provides a range of educational resources for its clients, including:

• Video tutorials: LMAX offers video tutorials on various topics related to trading, such as technical analysis, fundamental analysis, and risk management.

• Webinars: LMAX hosts regular webinars that cover a wide range of topics, including market analysis, trading strategies, and risk management.

• eBooks: LMAX provides a range of eBooks on various topics related to trading, such as forex trading strategies and technical analysis.

• Trading guides: LMAX offers a range of trading guides that cover a variety of topics, including forex trading, CFDs, and cryptocurrencies.

• Glossary: LMAX has a comprehensive glossary of trading terms that clients can refer to when needed.

• Overall, LMAX's educational resources are comprehensive and cover a wide range of topics, making it a good choice for traders who are looking to improve their knowledge and skills.

Conclusion

In conclusion, LMAX is a highly-regulated broker that offers institutional-level trading services to retail clients. The broker offers a wide range of trading instruments and a powerful trading platform. LMAX's low-latency trading environment, deep liquidity pool, and transparent pricing model make it an ideal choice for traders who demand high-quality execution and a fair trading environment.

However, LMAX's high minimum deposit requirement and limited account types may not be suitable for beginner traders. Additionally, the broker's relatively high trading costs may not be attractive to cost-sensitive traders. Overall, LMAX is a reliable and competitive broker for experienced traders looking for top-tier trading services.

Frequently Asked Questions (FAQs)