| Spreadex |
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| Formed in 1999, Spreadex is one of the longest-established financial spread betting firms in the industry and the only company to offer financial spread trading, sports spread betting and sports fixed odds betting from the convenience of one account. Spreadex was formed by former City dealer Jonathan Hufford, who was hooked on the sheer fun offered by spread betting. He decided to set up his own company but to make spread betting much more user-friendly. Since its inception, Spreadex has developed a reputation for great customer service. |
| Established: UK 1999 (FSA 190941) |
| Capitalisation: N/A |
| Languages: English |
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| Advantages |
1. Only firm to offer financial market trading, sports spread betting and sports fixed odds betting from the convenience of one account.
2. One of the most experienced and longest established firms in the market place.
3. Some of the best margin rates in the industry giving leveraged access to the markets.
4. Wide range of global markets and extensive range of AIM stocks listed on which to trade.
5. Credit facilities provided, depending on client status.
6. Professional, yet simple-to-use trading platform.
7. Tailored phone trading service to complement full online trading provision.
8. Comprehensive suite of charting tools.
9. Attractive account opening offers. |
| Disadvantages |
1. No demo account
2. No 24 hour trading
3. Unable to offer trading advice |
| Terms & Conditions |
| Please click here to view terms and conditions |
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| Account Information |
| Deposit Margin: From 5% See detail info |
| Spread Type: Fixed |
| Spread: Spread on each market |
| Spread Explained: See site for details |
| Overnight Interest (LONG): +3% LIBOR or equivalent |
| Overnight Interest (SHORT): -3% LIBOR or equivalent |
| Trade Size (Min): 100p per point | |
| Account Size (Min): £100 | Account Size (Max): Unlimited |
Stop and Limit Orders:  | Guaranteed Stop Orders with Fee:  |
Contingent Orders:  | Trailing Stops:  |
Scalping:  | Hedging:  |
Dedicated Account Handlers:  | Discretionary Management:  |
Accepts US Citizens:  | Islamic Swap-Free Accounts:  |
Binary Betting:  | Interest On Balance:  |
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| Markets Covered |
Indices, Shares, Commodities, Currencies, Bonds, Interest Rates and Exchange Traded Funds.
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| Products Available |
| See Markets covered above. |
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Base Currencies: 2 (GBP / USD / EURO) |
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| Introductory Offer |
N/A |
| Setup Costs and Duration |
| Online application form can be completed in two minutes. Account can be up and running immediately depending on client status. |
| Funding Methods and Costs |
For share trading, your roll charge is calculated by the following formula: (1 month Libor +/- 3%) x (days/365) x closing price x stake x (+/-1) x -1.
Here, the (+/-) refers to whether the position is long (buy) or short (sell), i.e. for a £25 long position in a stock that closed at 200p, with 1 month Libor at 0.5%, rolling for 1 night, the calculation would be:(0.005+0.03) x (1/365) x 200 x £25 x 1 x -1 = -£0.48 so you would be charged 48p to roll the trade for 1 night. For a £10 short position in stock that closed at 120p, with 1 month Libor at 1%, rolling for 1 night, the calculation would be: (0.01-0.03) x (1/365) x 120 x £10 x -1 x -1 = -£0.07 so you would be charged 7p to roll the trade for 1 night.
For daily indices, the roll charge is simply 1 x your stake for the UK 100, Daily and Germany 30, Daily, 2 x your stake for the Wall Street, Daily and 0.5 x your stake for the SPX 500, Daily Future.
For currency trading, your roll charge is calculated by a formula based on the differential of overnight LIBOR rates plus, or minus, a funding charge. |
| Additional Services |
1. Live Charts Spreadex customers have access to live charts to aid their trading. 2. Weekly Trading Update Email A Weekly Trading Update email is sent out every Friday reporting on the main moves of the week, listing highs and lows and open and close prices for popular markets. We also have an Economic Diary listing the forthcoming week’s data releases and company reporting dates.
3. Initial Margin/Leverage: UK shares from 5%, 250 and non-350 from 20%, US shares from 10%. Indices margin rates (multiplier) are UK 100 50x stake, Wall St 100x stake, Dax 60x stake, Cac 50x stake. Currencies 100x stake. Commodities are Gold 100x stake, oil 200x stake. £100 minimum initial deposit then margin based on the above. I.e. if you wanted to trade £1 of Gold you would need £107 in your account (£1 x 100 multiplier and £1 x 7 point spread) 4. Spreads There are no added commissions other than the cost you pay for the spread on each market. 5. Overnight Interest Charges For share trading, your roll charge is calculated by the following formula: (1 month Libor +/- 3%) x (days/365) x closing price x stake x (+/-1) x -1. Here, the (+/-) refers to whether the position is long (buy) or short (sell), i.e. for a £25 long position in a stock that closed at 200p, with 1 month Libor at 0.5%, rolling for 1 night, the calculation would be:(0.005+0.03) x (1/365) x 200 x £25 x 1 x -1 = -£0.48 so you would be charged 48p to roll the trade for 1 night. For a £10 short position in stock that closed at 120p, with 1 month Libor at 1%, rolling for 1 night, the calculation would be: (0.01-0.03) x (1/365) x 120 x £10 x -1 x -1 = -£0.07 so you would be charged 7p to roll the trade for 1 night. For daily indices, the roll charge is simply 1 x your stake for the UK 100, Daily and Germany 30, Daily, 2 x your stake for the Wall Street, Daily and 0.5 x your stake for the SPX 500, Daily Future. For currency trading, your roll charge is calculated by a formula based on the differential of overnight LIBOR rates plus, or minus, a funding charge. |
Forex Trading:  | CFD Trading:  |
Futures Trading:  | Share Dealing:  |
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| Software Information |
| Platform: In-house, purpose built platform |
| No downloads needed, you just need to have the relevant Java and Flash on your machine to show the prices. |
| Software Requirements |
| Online, All browsers, no download required, Java, Flash |
| Training Facilities |
| Training videos, live charts, online information website and dedicated account handlers |
24 Hour Trading:  | Live Chat Support:  |
Live Stream Quotes:  | Free Phone Support:  |
Mobile Trading:  | Mobile Alerts:  |
Automated Trading:  | API Access:  |
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