Eightcap Review
Broker: Spread Co
Leverage: 1:30
Regulation: FCA
Min. Deposit: 200 US$
HQ: UK
Platforms: Web Platform, Mobile Apps
Found In: 2006
Website: spreadco.com
Spread Co Licences
Spread Co Limited - Authorized by FCA UKregistration number. 446677
Our Review Method
Over 10 years of Forex Trading experience, 55Brokers' financial experts have reviewed broker offerings, safety and licensing. They also reached out to customer service to place trades and evaluate trading conditions in order to provide an expert opinion on Spread Co.
What is Spread CO?
Spread Co was founded in 2006. It is an online trading platform based in London that allows you to trade spread betting and Forexthrough currencies and equity indices and commodities. Spread Co offers competitive spreads, with fixed spreads, and low commissions. This keeps trading costs down while maximising potential gains.
Spread Co's trading platforms are loaded with technology and a fixed spread strategy. This allows you to control the trading process by calculating the exact expanse as well as safe information about the charges.
Overview
Spread Co offers easy account opening via digital media. It is a reliable broker with good trading conditions. There are tight spreads and a variety of platforms. You can deposit and withdraw funds using a variety of options. The education section includes trading videos, news, and information.
Trading instruments are not available for Forex or CFDs. Stock CFDs have higher fees and no support 24 hours a day.
Pros
Conditions for competitive trading
Support available 24/7
Closed Spreads
Cons
Additional fees not related to trading
Small Range of Market Instruments
Rating of the company overall
Reliability ⭐⭐⭐⭐
Platform ⭐⭐⭐⭐⭐
Commissions ⭐⭐⭐⭐
Support ⭐⭐⭐⭐⭐
Financial instruments ⭐⭐⭐⭐
RATING: 4.6
Ranking of Overall Spread Co
Spread Co has been rated a reliable broker based on Expert findings. They offer good trading conditions for Forex, CFD, and Spread Betting trading, and provide excellent service and education. We find that the number of instruments available is insufficient. There are not enough major market instruments.
Spread Co overall ranking is 7 out 10 based upon our testing. Compare this to 500 other brokers. See Our Ranking below compared with other industry-leading brokers.
Spread Co Alternative Brokers
Spread Co is a reliable broker that offers good trading conditions and spreads at a lower rate than the industry average. However, there are some drawbacks. Spread Co offers a limited number of trading instruments, and most are on a CFD basis. It is also regulated by FCA and offers low leverage of up to 1:30.
See alternative broker detailed reviews:
IG - Excellent Conditions for High Leverage Trading
Pepperstone - Wide Range of Trading Tools with Good Conditions
Futures trading is easy with FP Markets
Spread Co is it safe?
Spread Co is a trusted broker that offers low-risk Forex trading and CFD trading. Spread Co is registered in the UK and is regulated by FCA.
Are Spread Co's activities regulated?
Spread Co's UK trading platform uses the most recent online security features. All credits of Live Spread Co accounts are also held by top-tier banks in segregated accounts according to Spread Co regulation,read More Why trade with FCA brokers via the link.
All funds must be managed according to the strict rules of the FCA. There are many reporting and restrictions that must be followed. If you have a complaint, you can also use the Financial Ombudsman Service if you deal with an FCA-regulated company.
Read our conclusion about Spread Co Reliability:
We have a 8 out of 10 Trust Score for our Ranked Spread Cotrust Score. This is a great score and reflects our excellent reputation over the years.
Spread Co Leverage
Spread Co's leverage levels depend on which regulatory requirements you are trading with and where the brokerage is located. This is due to the various safety precautions that are taken to minimize risks when trading, especially for retail traders.
The UK brokerage has a set of rules that allow for lower leverage levels.
1:30 to Forex instruments; 1 :20 for minor currency pair
1:0 for Commodities
Types of accounts
Spread Co does not offer a variety of account typesbut you have the option to choose between spread betting or CFD accounts. Spread Co requires that you complete an application form. You will need to provide some personal information and details about your trading experience. We had a smooth opening during our test.
The first account will be considered a Demo account. Once funds have been deposited, it will be moved to the Live status. You can then trade immediately.
Spread Co Instruments
Spread Co offers a good selection of trading instruments in the most popular markets, including indices and global equities. The broker also allows you to speculate via CFDs or Spread Betting. However, the broker does not offer other markets such as stocks, futures or bonds. The broker does not offer cryptocurrency trading as the FCA in the UK has banned decentralized digital currencies by 2021.
Spread Co Score is 8 out of 10 for good trading instrument selection. However, the market range might seem limited and not appropriate for all traders.
Fees
Spread Co fees are included in a spread. Additional fees such as funding fees or other fees should also be considered. Please see the fee table below. Always Consider Rollover or Overnight Fee as a Cost, which is approximately -2% for positions that are held longer than one day.
Spread Fees are average and low, with an overall rating 8 out of 10 based on our testing. This is compared to over 500 brokers. Spreads include fees, and most currency pairs have spreads at a lower level. Additional fees such as rollover and funding fees should be considered.
Spreads
Spread bets on the FTSE 100 or US DJIA Index are eligible for 0.8 Spread Co spread along with EUR/USD pair. You may also be eligible for 0% financing for short equity and equity positions. Also, apply to receive 2% interest on cash balances of spread betting accounts (check out spread betting companies). The account must have a minimum 10,000 GBP.
See below for example, a comparison of Spread Co Spread and some popular instruments, and compare fees with other popular brokers.
Based on comparisons to other brokers, our experts gave Spread Co spreads an overall rating 8 out of 10. Forex spread was lower than the industry average, with just 0.8 pip for EURUSD
Withdrawals and deposits
You must deposit an initial amount to begin Live trading. Spread Co.
Spread Co Funding Methods were rated Good by us with an overall score of 8. The fees are minimal or very low. However, the broker only accepts funding via Bank Transfers and Credit/Debit Cards. They do not accept payments via ewallets.
We have compiled a list of positive and negative points about Spread Co funding methods:
Minimum deposit
Spread Co Minimum deposit amount for Spread betting accounts is 200GBP, and 250GBP for CFD accounts.
Spread CO Minimum Deposit vs Other Brokers
Withdrawal
While brokers do not charge additional fees for deposits, payment providers may consider deposits to be cash advances and therefore will add fees. Please check the issue. According to the withdrawal company policy, withdrawals must be made back to the source. This can be done by any of these methods. The minimum withdrawal allowed is 50GBP.
Trade Platforms
Spread Co provides easy-to-use platforms for monitoring and trading positions from anywhere. Spread Co's platforms have been designed to provide optimal performance across the thousands in equities and indices as well as commodities and FX pairs.
Spread Co Platform, a proprietary software that is web-based Platform that requires no download. It allows you to customize your trading experience through the most popular and useful features. Both professionals and novices will find it easy to trade. Professionals can also use the tiled window which provides a variety of information in one location.
Spread platforms are rated Good with an overall rating 7 out of 10, compared to more than 500 other brokers. It is user-friendly and easy to use. However, the desktop version doesn't exist. The desktop has full trading capacity. The broker does not offer third-party platforms such as the industry-leading MT4 and MT5 platforms.
Mobile Platform
Mobile Applicationis an indispensable tool that is always at your disposal. It allows you to keep up-to-date at all times with nearly the same powerful features and tools as a web platform. Spread Co charts powered by TradingView Inc. provide a secure place to trade and a full suite of analysis tools.
To make trading enjoyable, you must be familiar with platforms to ensure that you can use the tools and data available to you. The broker offers news, data, and guides that cover global markets and keep your up-to-date.
Spread Co's trading platform allows for hedging.
Hedging is allowed by the broker. Trades can be placed directly from the chart by using broker risk management features such as hedging to go short or long on assets. Demo accounts allow you to practice hedging strategies.
Education
Spread Co offers client support via relationship managers that provide assistance as well as education. Spread Co provides an educational library that includes video updates and multiple guides, as well as market overviews, platform tours, news, and economic calendars.
Spread Co Education was ranked 8 out of 10 based on our research. Spread Co offers great Education Materials, including high-quality videos and guides.
Spread Co Review Conclusion
We conclude this Spread Co review that, after more than a decade of experience, Spread Co has been a reliable UK broker. The offering offers a variety of trading instruments via CFDs, with a fixed spread. Spread Co's strategy is simple and you can understand your expenses easily.
The main problem is that the broker doesn't offer the popular MT4 or MT5 platforms. This is a major drawback for traders. However, the proprietary platform is powerful and there are no alternative trading markets.
Based upon our findings and financial expert opinion Spread Co is good for:
Starting traders
Trade professionals
Currency Trading and CFD Trading
Tight Spread Trading
Spread betting