Investor Protection & Regulations
“Spread Co is authorized and regulated by the FCA in the UK. It is registered with the FCA with the registration number 446677 Investors are protected by being provided with a regulated trading environment, using a Secured Socket Layer (SSL) protocol to protect user and account data, as well as funds segregation.”
The Spread Co brokerage brand provides investor protection at various levels. These include regulation, investment in the latest cyber-security protocols as well as funds segregation.
In terms of regulation, Spread Co is authorized and licensed by the Financial Conduct Authority with license number 446677. Information about the regulatory status of Spread Co can be found here.
The question a lot of people tend to ask is this: what does regulation of a broker really do for a trader? In the case of Spread Co, a UK brand regulated by the FCA, this means a lot for the trader in protection:
- Regulation by the FCA offers all clients of Spread Co access to the Financial Ombudsman Service, a dispute resolution mechanism that allows clients to get matters that they have against Spread Co to be resolved amicably and at far more affordable rates than if conventional legal processes are followed.
- There is also access to an insurance scheme known as the Financial Services Compensation Scheme (FSCS), which may provide up to 50,000 British Pounds in compensation if FCA-regulated financial services firms fail. So as a client of Spread Co, you are automatically enrolled into that scheme.
Furthermore, additional protection for clients of Spread Co has also implemented via the provision of a 128-bit Secured Socket Layer (SSL), which is able to encrypt all data transferred within the site. This protects user data, as well as payment data that is entered into the payment forms.
The last leg of protection ensures account segregation of investors’ deposits. These are kept in very solvent banks, and are distinct from the operational funds of Spread Co. So you can be sure that all operational and hedging activity carried out by Spread Co is not done with user funds.
“Spread Co.com offers 3 main types of trade types for its traders. They can trade in the spot forex market, CFDs and spread betting. Spread Co offers 38 currency pairs, 5 commodities, 5 indices,1 cryptocurrency asset, 47 ETFs and over 1000 stocks for trading.”
More than 1,150 assets can be traded on the various Spread Co platforms. The various assets available for trading are shown below:
*The above list was taken from the broker website; the asset listing is correct as at the time of writing this review.
“Trading accounts at Spread Co.co are categorized into 2 main categories, Spread betting accounts and CFDs trading accounts. They also offer a demo trading account. Spread Co offers a simplified account opening process which can be done using the online forms on the website.”
Account opening on Spread Co is a simple process which is done using an online form. Clarity on account opening can be obtained by calling a dedicated phone line: +44 (0) 1923 832659.
Spread Co provides three account types:
- Standard Spread Betting Account: This Account is the standard account provided for spread betting on Spread Co. There are no free opening trades, and no monthly fees. The maximum bet and position sizes that can be used for spread betting are variable. This account also allows the use of leverage.
- CFD Account: This is designed for the trading of FX as well as CFDs on shares, ETFs, commodities, etc. This account comes with a minimum account deposit of £250.
- Spread Free Basic Account: This account is a zero-spread account which comes with a minimum account opening capital requirement of £200. The maximum bet and position sizes are £3 and £5 per point respectively. There are no monthly fees, and the holder gets 4 free opening trades. Furthermore, the spread-free nature of the account translates into a lot of savings: up to £250 monthly savings and as much as £3000 in annual savings.
Spread Free Bronze Account: This account is a zero-spread account which comes with a minimum account opening capital requirement of £200. It differs slightly from the basic version of this account type. The maximum bet and position sizes are £5 and £12 per point respectively. There is a £10 monthly fee, and the holder gets 6 free opening trades. Furthermore, the spread-free nature of the account translates into a lot of savings: up to £615 monthly savings and as much as £7310 in annual savings.
Spread Co provides a demo account on all its platforms, with a virtual opening balance of 25,000 units of account currency. Accounts can be maintained in USD, GBP and EUR. New clients can use this demo account to test the platforms, learn how to spread bet and master the trading conditions found on Spread Co.
To open an account, you have to fill the multi-step online forms, choose from the various account types and complete the registration. An email with your demo account details will be sent to your email address, and also displayed on next screen.
Login with your email address and the password provided to you in the Welcome email. Demo trading can begin in earnest once you have logged into your account.
To open a real account, you must complete the verification processes on Spread Co, which include submitting documents to prove your identity and place of residence.
Deposit & Withdrawals Options
“UK Debit Cards, Major Credit/Debit Cards, Bank Transfer and Skrill are the acceptable payment options by Spread Co. There are no deposit fees and payments are processed instantly.”
Spread Co does not accept third party deposits. Cash payments and Cheque payments are also prohibited. Card payments can be made online or over the phone. A limit is £500 is placed for card payments made over the phone. Normally, Spread Co does not charge for deposits.
The following payment options are available:
- Credit Cards: The acceptable cards are Visa and Master Cards. There is no limit on the deposit amount. Payments are processed instantly.
- UK Debit Cards: The acceptable debit cards are UK Maestro, Visa-Delta and Electro Cards. Payments can be made online or over the phone. There are no deposit fees and the payments are processed immediately.
- Bank Transfers: Spread Co provides 4 account numbers denominated in GBP, EUR, USD and JPY. These are segregated client account numbers for deposits. Bank transfers can take up to 3 business days before the deposited cash reflects in the client account.
- Skrill: This e-payment wallet is accepted for both deposits and withdrawals. The minimum deposit is £200. For withdrawals, a fee of 1% is charged. The transactions are processed instantly.
The platforms and website payment gateways are secured and there is no history of lost funds with this broker.
Web & Desktop Trading Platforms
“Unlike most established forex and CFDs brokers in the online trading industry, Spread Co.com doesn’t provide its traders with the MetaTrader 4 trading platform. Instead, the broker uses a proprietary web based trading platform called the Saturn trading platform. The platform is web based and runs on the web browser.”
The only platform made available by Spread Co is its proprietary platform known as “The Saturn.” It is web based and so, no downloads and installations are required. The Spread Co trading platform works on all devices and on all operating systems. It has undergone upgrades over the years and has become more robust, sophisticated and powerful.
The application interface is simple, intuitive and colourful. It is also available on mobile devices as downloadable apps. It comes with several features. For instance, it comes with pop-up charts which open as a separate pop-up window from the platform. This feature gives it an advantage over standard MT4/MT5 charts, which are restricted to the platform interface and cannot be expanded easily for chart analysis.
The key features of the trading platform include the following:
- Customizable User Interface
Traders can customize the trading platform interface to suit their preferences. The Saturn trading platform is able to support multi screen and lets you detach charts and trade tickets into individual windows.
- Comprehensive Charting tools
The charting package integrated into the Saturn trading platform comes with a range of technical indicators such as the MACD and Fibonacci Retracement. There are also drawing tools to traders to create their own trend channels so they can get a better picture of the developments in the markets.
- No Software to Download or Install
As a web based trading platform, there is no software to download or install. Traders simply just have to log in to Spread Co.com website to start trading immediately.
The Saturn platform comes with integrated risk management tools such as limit orders and guaranteed stop. These tools are designed to help you have more control over your trading risk exposure.
Mobile Trading Platforms
“The Spread Co Trading platform is also designed for mobile trading. It is available on the iOS and Android operating systems. The mobile app has many features which include ability to enter trade information seamlessly, perform technical analysis and provision of market news.
The Spread Co Web based trading platform is available on mobile devices. It is designed for the android and iOS mobile operating systems. The app interface is simple, visually appealing and user friendly. The following are some of the features of the mobile app:
- One-click trading can be enabled in order place trades without further confirmations.
Traders with multiple trading accounts can easily switch between accounts with the mobile trading apps. The switch can be done without have to log out of each account.
- Advanced charting tools and over 50 indicators are available for technical analysis.
- Market News is available on the platform.
- Customizable economic event notifications with time zones settings in case the trader changes location.
- Real time quotes with other order management features.
“The Web based Spread Co platform is replete with features. It has76 indicators, 6 chart styles, customizable windows and layouts. It also has order management features, market news and an economic calendar.”
Apart from low entry requirements, features which traders at Spread Co.com enjoy include:
- Ability to earn interest on cash balances
- Ability to trade both CFDs and Spread Bet
- Choices of trading accounts
- Dedicated Relationship manager
- Free economic calendar
- Powerful mobile trading app
- Regulated trading environment
- Tax free earnings from spread betting
- Wide range of trading instruments
The Spread Co trading Platform itself has many features not yet mentioned. Here are some of the salient features:
- Customizable Windows and Layout: Several charts, orders, news, etc can be opened at the same time. The windows are fully customizable. A trader can open and resize several windows and save the layout for future use. The layout button can be used to save different layouts. The “tear off” button can be used to open a separate window from the platform window. This is perfect for better viewing and further analysis. The “tear off” button is located on the title bar of every open window.
- There are about 76 indicators for technical analysis. These include the popular indicators like moving average, MACD, Bollinger bands, Ichimoku Cloud, etc. The indicators are arranged in alphabetical order.
- Six chart styles are featured. They are Bars, Candles, Hollow Candles, Heikin Ashi, Line and Area Charts.
- Up to date market news headlines from across the globe is streamed directly on the platform.
- Order management features which includes stop and limit levels, order history, transaction history, statements etc.
- 11 timeframes from 1 minute to 1 day is featured. This is important in analyzing the charts.
- An economic calendar is featured on the platform. This aids the trader in fundamental analysis by listing all the global financial events likely to impart the market.
Commissions & Spreads
“Spread Co charge from the spread and also charge commissions on some transactions. The typical spread on the EUR/USD is 0.8 pips.”
Spreads at Spread Co.com are fixed and competitive. In addition, traders at Spread Co.com also benefit from commission free through spread betting. This is because Spread Co.com has factored in the commission into the spreads. However, for equity trades, Spread Co.com charges extremely competitive commission which start as low as 0.05%.
Find below some trading instruments and their spreads:
||0.3 – 0.4
||US CRUDE OIL
||0.03 – 0.04
||BITCOIN INDEX FUTURE
|| MINI GERMANY 30
||1.2 – 2.2
||2 – 3
|| JAPAN225 FUTURE
||1 – 8
|| UK100 FUTURE
||2 – 8.5
||0.8 – 2.8
||1.2 – 3.2
|| US30 FUTURE
||3 – 5
|| US500 FUTURE
|| USD INDEX FUTURE
||2 – 4
Over 100 ETFs are also available for trading. They track different assets including bonds, commodities, indices and Country ETFs. Spread Co charges 0.075% per side plus the market spread.
*Please note that these figures were correct at time of writing this review, were taken from the broker’s website and are subject to change.
Bonus & Promotions
“As a regulated entity of the FCA, Spread Co.com does not offer any kind of bonuses or promotional offers. Only the 2% interest on balance is given to clients”
Spread Co does not offer any bonuses for new or active traders. There are no trading contests or cash back rewards. However, they offer an annual 2% interest on uncommitted cash balances. This is only for live accounts with balances from £10,000 to £20,000. This interest is paid on a monthly basis.
“The customer support desk is available 5 days a week on phone, web chat, email and social media. These communication channels are managed by the support team from Monday to Friday 8am-6pm (UK time). The support is very helpful, respectful and knowledgeable.”
The Client services team is available 8am to 6pm from Monday to Friday. The Relationship Management team works from 9am to 5pm from Monday to Friday. The dealing team opens from10pm on Sunday to 10pm on Friday. All times are UK time (GMT).
- Instant Web Chat: This facility is accessible from all pages of the website.
- Email: For general support, contact: info@Spread Co.com; Client Services; cs@Spread Co.com; For sales support: salesteam@Spread Com.com;
- For Phone Support: 0800 078 9398; Client Services: +44 1923 832 682; Relationship Management: +44 1923 832 659; Dealing Team: +44 1923 832 609.
- Social Media: The following social media channels are available:
- Facebook.com/Spread Co
- Twitter.com/Spread Co
When a chat was initiated, it took the support attendant 10 seconds to respond. The support teams are knowledgeable, courteous and willing to assist.
“Spread Co provides the Economic Calendar and Market News. This is a bit restricted when compared to other spread betting platforms.”
The following research tools are provided:
- Market News: The market news is updated on the website and on the platform. This news affects many tradable assets from all over the globe.
- An Economic calendar is provided on the website and on the platform. This calendar shows a list of economic events that are likely to affect prices of tradable assets.
The broker could certainly do with offering a greater variety of research materials to its traders.
“Spread Co only provides articles and tips to give new trader guidelines on how to trade successfully. Again, trader education on Spread Co needs to be expanded for better competitiveness.”
The “Guide section” on the Spread Co websites contains articles grouped into Forex tips, Spread betting tips, CFD trading tips, and Glossary. The articles are aimed to give a newbie a general idea of how to trade and how trading works.
There are no training videos, webinars or detailed Comprehensive Trader Education Suite. However, there is an extensive Frequently Asked Questions (FAQ) page which may hold more information about Spread Co’s product offerings and processes. This in some way, compensates for the lack of a comprehensive trader education package.
“Spread Co is accepted by traders as they have been in operation for over a decade. They are a good choice for simple traders who do not use any complicated trading style.”
Spread Co has been in operation for over 10 years. FCA regulated brokers are well respected because of the stringent regulatory requirements. Spread Co has been under the FCA regulation for over a decade..
The proprietary platform has a simple interface which makes it easy on the eye: a feature most beginner and intermediate traders will find useful. For experienced investors, Spread Co.com offers competitive spreads to enable them maximize their profitability. The charting package will also suit expert traders who use complex technical analysis. This is because the charts can be made to stand alone using the pop-up feature. However, expert traders with complex trading styles and trading tools will be hard pressed finding comfort with Spread Co as many of these tools are missing.
Here are some of the “Frequently Asked Questions” about Spread Co:
Where is Spread Co based?
The Spread Co brokerage firm is located in London, UK.
How does Spread Co make money?
Spread Co makes money from spreads and commissions.
How do I deposit in Spread Co account?
The payment options accepted are: Bank Transfers, Credit/Debit Cards like Mastercard and Visa Cards. UK debit cards like: UK Maestro, Visa-Delta and Electron Cards are accepted. Skrill e-payment wallet can be used to fund Spread Co account.
What is the min. deposit for Spread Co?
The minimum deposit is £250 for CFD accounts and £200 for Spread betting accounts.
What is the maximum leverage in Spread Co?
Maximum leverage is 1:200.
How do I open an account with Spread Co?
Click the “Start Trading Now” button found on the top of the website.
Does Spread Co use MetaTrader?
No, only the Spread Co. proprietary platform is available.
“As a regulated broker of the FCA, traders at Spread Co.com know that they are working under the umbrella of one of the globe’s strictest regulators. This broker is required to follow stringent rules concerning how it manages its clients’ funds.”
Spread Co is an experienced broker that has been operating successfully for over a decade. The brokerage firm is located in London and it is regulated by the FCA, which has a reputation of zero-tolerance for brokerages that do not adhere to its standards. Traders’ funds are held in segregated bank accounts, and insurance with the FSCS is assured.
The broker offers its proprietary Spread Co trading platform which is web-based. The platform is packed with basic analytical tools, order and account management tools as well as a news bar which provides market news in a visually appealing format.
Spread Co does not offer comprehensive research tools and trader education. The provided tools are limited to an economic calendar and market news. The training provided is only in the form of articles explaining how to trade and some basic trading principles.
In summary, Spread Co is suitable for traders who do not employ any complex strategies. But experts may have to resort to the use of more advanced third-party trading tools to get the best out of the Spread Co platforms.
- Proprietary web-based trading platform which is feature-packed
- FCA regulated broker, which conforms with stringent protocol
- 10 years track history
- No research tools for more advanced traders
- No real educational resources for beginners or intermediate traders
- No Metatrader 4 is offered by Spread Co