- Customer Service
Spreadco is a broker site, based in London. Founded in 2006, the company is one of the leading providers of CFD and Forex in the UK. They have an impressively wide range of market available, which coupled with their extremely competitive margin rates, has attracted numerous CFD traders.
The products available within their ‘contract for difference’ range are rather impressive and include over 2500 different products; encompassing FTSE 250 stocks, indices, FX CFDs, and commodities. These include the standard commodities such as copper, crude oil and gold as well as others like soybean oil and rough rice. The points on crude oil and gold are some of the tightest around at just 4 points. Their product availability is consistently cited as account holder’s main reasons for joining the Spreadco CFD broker platform.
Depending on your CFD trading experience you can choose to open a Standard or Limited Risk account. The limited risk account ensures guaranteed stop orders on all of your trades, unless you stipulate that this feature should be turned off. It may be sensible for amateur CFD traders to start off with a limited risk account before moving on to a standard account. The Spreadco CFD platform can be accessed online, or you can access your CFD account via your desktop. The Spreadco Saturn software download provides account holders with an enhanced CFD trading experience, regardless of their experience. With a strong downloadable platform on offer from Spreadco, you would expect them to have produced some mobile trading apps by now. More and more people are looking to their smart phones for all aspects of their life and the lack of such platforms here may hurt the company in the near future.
Spreadco’s decision to keep account holders, and trade enthusiasts alike abreast of current trading news and tips via social network site Twitter is sheer brilliance. Not only is it helpful for account holders, it also spreads their name all over the world. If someone decided to start trending ‘Spreadco’ it could create a surge in new account openings. The competitive fees and charges on the CFD accounts are also pleasing; the margin on indices stands at 1%, commodities at 3%, and global equities at 5%. Of course these are subject to change at any time. The 30 day demo account available from Spreadco is an excellent resource for those looking for an introduction into CFD trading. You are given a £25,000 virtual balance to trade with, which gives you every opportunity to see if you are made for the world of trading. The company also offers a comprehensive selection of training resources for those looking to brush up on their knowledge or refine their skills in the CFD market.
With regards to special offers, Spreadco currently has a £50 referral scheme in effect. Whenever a friend of yours opens an account, you could both earn this nice commission. There are a number of rules regarding this offer though. The new account holder must place a minimum of five non equity CFD trades before you can each receive your respective bonuses. Once this requirement has been met, the £50 will automatically be credited into your accounts. This is the only offer currently in effect, however Spreadco have been known to offer other deals throughout the year, so check back often to see if you could benefit.
Below you’ll find a rundown of the site’s best and worst features;
- The market range
- The 30 day demo account
- Low commission rates
- Limited offers available
- Lack of mobile platforms