Spread Co Review
(11 votes, average: 3.73 out of 5)
Loading ...October 28, 2011 // By: Spread betting reviewer // 5 Comments
| Spread Betting Company | Spreads From | Deposit Margin | Trade Min. | Account Min. | Loyalty Program | Special Offers | Mobile Trading | Total Score |
|---|---|---|---|---|---|---|---|---|
 Spread CO | 0.8 pip | 1-10% | £1 | £100 |
|  Open Referrals |
| 7.6 |
London based Spreadco was founded in 2006, by the former CFO of CMO Markets, Ajay Pabar. The company is currently one of the UK’s most used financial spread betting facilities. Spreadco offers some of the tightest spreads in the UK and has a number of financing options available to its account holders.
Trading Market
With a Spreadco account you can trade on over 2500 different products. You can choose from any of the FTSE 250 stocks, the other main markets and from a range of sector-based products too. Their commodities list includes copper, soybean oil and rough rice. They also have one of the lowest industry spreads on US crude oil at just 4 points.
Betting Platforms
There are currently two accounts available to choose from at Spreadco. You can choose to open a Standard Account, or a Limited Risk account. With a limited risk account, you have a number of guaranteed stop orders already in place prior to placing your bets. You can use Spreadco online at their website or you can download their Saturn designed software programme. The downloadable version of Spreadco offers a much more customisable spread betting experience that can be enjoyed by experienced and novice spread betters alike. With the programme you can examine watch lists, order screens, and economic charts open simultaneously. You can really make the spread betting experience individual to you.
Benefits
The 30 day demo account offers you a generous £25,000 virtual trading wallet. The time frame and limit should really give you a feel for spread betting. In fact all of their training programmes are excellent. There are a number of comprehensive guides available, as well as a 14 part video training series, which covers everything from the absolute basics of downloading their desktop platform, to judging what the most cost effective spread bets will be.
The range of trading tools available is impressive. Day traders will no doubt benefit from and enjoy the Quick Trade option that is available from the site. The real time technical analysis provided by Spreadco’s constantly updated twitter feed is also fantastic as it provides minute by minute updates, ensuring you are as well informed as you can be before you place your bets.
Special Offers
The company is currently running a £50 refer a scheme which rewards you and your friend when they sign up to the site. Each friend must place a minimum of five non equity trades with the site, before they automatically credit your respective accounts. This is the only offer that Spreadco is currently offering, but they do run other account opening incentives from time to time, so it may be worth waiting to start your account.
Site Strengths
- The 30 day demo account
- The trading tool range
Site Weaknesses
- The £1 per point minimum stake size
Conclusion
The minimum stake size of £1 per point will no doubt dissuade novices from creating a spread betting account. In fact the site on the whole feels like an environment that is most suited to the experienced amateur or the committed expert in this field. The limited functionality of the site compared to its download platform is also an issue. Most users would prefer to be able to log into their account wherever they are. The added features of the download programme are of such high quality, that you’ll become accustomed to the added usability they bring.
More details
- Website: Spread CO
5 Comments
reading about CFD’s and financial spread trading at one in the morning on a sunday night. i don’t even know.
Spread Co has great competitive spreads. Better trading platform. Orders are executed quite fast when comparing to other providers like City Index.
Spread Co has a potential to develop into something great for traders… there’re lots and lots of spread betting and CFD brokers around and most of them never make it.
I tried them!
They offered up to 1000 pounds refund when making a 5000 pounds deposit
I open a position on oil and lost £870, contacted them and asked for refund they said according to T&C I need to wait three month which I did.
I got my money back and have to say that their customer service is one of the nicest I’ve talked to. The platform is great but I won’t use it because it is missing the option to move the stop loss into profit which I use a lot. They told me that they will add it soon.
All in all you can trust them, but read the terms before.
I agree that Spread Co still have a long way to go to catch up with Capital Spreads and IGindex but if they continue developing the feedback and improve their trading platform they might become a competitive player.