SpreadCo is a unique forex and CFD broker regulated in the UK by the FCA. SpreadCo offers some interesting types of trading such as bitcoin futures, CFDs, forex, as well as spread betting which is very popular among UK traders as it is tax free. There are also several platforms offered for trading.
SpreadCo review will help traders understand all aspects of trading with this broker, special features, benefits and perks that are waiting for you, trading platforms and depositing and withdrawing. Keep reading our SpreadCo review to get a full picture and decide whether or not to trade with this broker.
Account Features
SpreadCo has a simple plan for all traders who wish to trade with them. Instead of bothering users with multiple account types, they are offering two accounts:
- Live Trading Account
- Demo Account
The difference is more than obvious, as the live trading account is used for real trading and real profit, while exposing you to real risk at the same time. Demo account is there for practice.
SpreadCo Live Trading Account
Live trading account requires registration and a real money deposit. Minimum deposit is 250 GBP for CFDs trading or 200 GBP for spreads betting. SpreadCo seems like a serious broker as they are warning you to read several documents before you even open a trading account, as they want you to be sure to understand all potential risks and the entire trading process.
Live trading account offers:
- 38 currency pairs
- 13 major indices
- Wide range of UK and international equities
- Spot Gold
- Spot Silver
- US Crude Oil Future
- Stop Loss
- Guaranteed Stop Loss
- Limit Order
- Personal relationship manager
SpreadCo Demo Account
SpreadCo demo should be used before you even start trading. You can open it simply by registering, as no deposit is required. It comes equipped with solid 25,000 GBP in virtual money. You can’t make any real money profit but you can gain valuable knowledge and experience.
Demo account has:
- 5 currency pairs
- 3 indices
- 10 equities
- Spot Gold
- Spot Silver
It should be noted how the SpreadCo demo doesn’t offer everything the live trading account does, but still delivers plenty of features that will enable traders more insight in the world of trading with this broker. The demo account is available for all types of trading, including spread betting.
SpreadCo Bonus
This broker is not offering any special bonuses on their website. We also found no mentioning of bonuses in their terms and conditions. If you want to use these types of benefits we suggest you ask the customer support about it or find another broker.
Trading Software & Assets
SpreadCo is using Saturn trading platform. They describe it as 100% customizable interface with great charting tools. It is a web-based platform so you are free from any installations or special downloads hich makes it suitable for traders who are not so used to using computers or simply don’t want to slow down their computer. Make sure to remember your username and password and you will be able to access it anytime and anyplace.
You can also trade with SpreadCo via your mobile phone. You can use it on Android and Apple devices. Mobile platform supports one-click trading, easy switch between CFDs and spreads betting account and event notifications. There is also a special iPad app for those who prefer to trade via their Apple Tablet. All these platform variations come equipped with charts that can be used for market analysis.
SpreadCo Bitcoin Futures
Bitcoin futures with SpreadCo are available as a form of spread betting. It is much easier, safer, quicker and easier than actually buying bitcoin via an exchange (and especially compared to mining them). Low margin requirement makes it attractive as well, only 20%, any you can also make 2% interest on your balance.
EURUSD spread with this broker is only 0.8. The leverage is 1:200.
Support Information
SpreadCo has support in form of live chat advertised in the bottom right corner, so we decided to test it immediately during this review. The agent immediately responded offering us the answer we were looking for and suggesting us to check out a link for more information. He wasn’t trying to convince us to make a deposit first which we truly appreciated. It can be concluded how the customer support with Spread Co live chat is really exquisite.
If you don’t want to chat, you can always contact the broker via online form or a phone. Make sure to check out the contact page as new and existing traders must use different phone numbers. Traders who want to find the answer by themselves, we recommend using the FAQ section that contains all the basic information necessary for you to trade.
Education section has many market news, articles, guides and is constantly updated so better keep an eye on it. We recommend all traders to learn about spread betting and different trading strategies prior to making a deposit. You can always test your skills and knowledge on a free demo account.
Banking & Company Information
Minimum deposit with SpreadCo varies depending on the trading type you choose. Spread betting accounts require 200 GBP deposit, and CFDs account 250 GBP deposit. Minimum withdrawal is 10 GBP. This is very user friendly and reasonable amount.
Depositing methods are as follows:
Credit Cards – Visa and MasterCard. The broker is not charging any fees, but your bank or credit card company might do so.
UK Debit Cards – Visa-Delta and Electron cards, but no American Express or Irish Laser Cards.
Bank transfer – there are no special conditions, but it may take up to 3 working days for the transfer to be completed. Express bank wire withdrawals that happen on the same day are charged with GBP 15.
Skrill – minimum deposit after the initial deposit is 10 GBP. Fees are charged by Skrill, and according to their T&C. The transaction can be made only in GBP or EUR. Skrill withdrawals are charged with 1% fee.
All documents regarding trading with this broker can be found on the website. SpreadCo is owned by Spread Co Limited and regulated by the UK’s FCA.