Spread Co Limited is the company that owns the broker. It is registered in England with headquarters in London.
Spread Co claims to be one of the leading UK brokers offering financial spread betting, Contracts for Difference (CFD) and Forex trading.
Company. Fund security
Spread Co Limited has 10 years of experience in online trading and is regulated by the most reliable financial regulator in the EU - FCA (registration number 446677).
All FCA regulated companies are required to comply with strict rules and procedures set by the UK Comptroller: they must keep all client money separate from the company's own funds; they must report regularly to the FCA; they are required to maintain net tangible assets of at least EUR 730,000 to prove their financial stability.
In addition, what is more important in relation to the safety of funds is the program for compensation of funds to investors, which in the event of a bankruptcy of the broker can cover the investment loss (or funds held in the trading account) up to 50,000 pounds sterling.
There is one type of account in Spread Co, from which the markets for stocks, indices, currencies are available. It also offers clients fixed spreads and leverage up to 1: 200. Micro lots and Muslim accounts are not available for trading.
The broker provides its spread betting services on another account with a minimum initial deposit of $ 250 and fixed spreads of 0.8 pips in EUR / USD.
Minimum initial deposit
To open a trading account with Spread Co, you need to deposit at least $ 250, which is the average minimum initial deposit. Of course, there are some brokers that require less, for example $ 1.
Spreads and commissions
Spread Co offers fixed spreads of 1.5 pips on EUR / USD. Most fixed spread brokers provide around 2 pips for this pair.
Spread Co clients also benefit from interest-free trading as the broker makes money on the spread (like most fixed spread brokerages).
Maximum leverage rates at Spread Co are up to 1: 200. Such leverage is considered standard, although a number of brokers offer leverage equal to or greater than 1: 500.
If you are looking for the industry standard MT4 platform, you will not find one from this broker. When trading with Spread Co, you will only be offered its own platform, available for desktop and mobile versions.
The platform has a customizable interface and is equipped with useful charting tools. In addition, it provides advanced risk management tools such as stop loss and limit orders and more. You can also specify time frames for your trades.
We have tried the Spread Co platform and find it to be quite good, however for some traders there may be a problem - the lack of advisors and other advanced features.
The site has a section with frequently asked questions and a glossary where traders can find extensive information to get started. If you have any additional questions, you can contact the support service, and the owners of real trading accounts can contact their manager.
If you need help with a specific product, you can visit the specialized sections on the site - spread betting, CFDs and Forex - where product guides are published. You can also follow company news and updates on Facebook and Twitter.
Ways of payment
Spread Co customers can make deposits and withdrawals from their accounts through credit / debit cards, bank transfers and Skrill.
Withdrawals via credit card are 2%, but via debit cards are free. For payments to Skrill accounts, a commission of 1% of the transaction value is charged.
Withdrawing funds to bank accounts is free.
Clients can open accounts in pounds sterling, euros and dollars. However, if you are used to trading in another currency, then the broker may meet you halfway.
FCA regulated broker with over 10 years of experience; competitive spreads; commission trade.
MT4 is not available; micro-lots and advisors for trading are not offered; only fixed spreads.
SPREADCO is a brokerage company whose task is to provide intermediary services to traders. Brokers provide access to currency trading in the first place. Many of them also provide an opportunity to transact with company stocks, bonds, commodities, precious metals, indices, cryptocurrencies and other assets. A private person can make transactions with all these instruments only on the trading platform, which the broker provides access to.
In addition, thanks to the brokerage company, an individual can operate on the market with amounts that significantly exceed the size of their own funds. This is called providing leverage. For example, having a deposit of 1,000 USD with a 1: 400 leverage, a trader can make deals for 400,000 USD.
The broker also opens access to analytics, auxiliary tools, and trading signals. Modern trading is impossible without all this.
The broker SPREADCO makes profit from traders' transactions, as a rule, in two main ways.
The first is the most common. Using spreads. This word refers to the difference between the best prices for buying and selling a particular asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between a broker and users of the Forex market - another. The mediator takes the difference for himself.
The second way is easier to understand. This is the collection of a commission for each transaction performed. Most often it has a standard value, but it can be measured as a percentage.
Thus, the brokerage company is interested in attracting as many clients as possible and for them to conduct active trading.
We have found out how honest brokers should work and how they work. Now let's look at how scammers operate, they are also called the kitchen.
The most common way to cheat is to tweak quotes. The broker provides the trader with quotes that differ from the real market ones. Data substitution occurs in order to make operations unprofitable. The deposit is reduced, and then completely zeroed out. At the same time, the trader thinks that his operations were carried out in the market, but in fact - only on the site of scammers.
Bonuses are traps. They are generously distributed for anything: for registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money, mixed with bonus money, it will be necessary to fulfill a number of virtually impossible conditions. For example, conduct trading operations for an amount tens of times greater than the size of the deposit.
In the User Agreement, a clause can also be disguised that allows the broker to manage the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.
One of the key points is the place of registration and regulation of the company's activities.
Let's talk about registration first. As a rule, brokers from either their own country or from an economically developed country, for example, a member of the European Union, are more credible to traders. Of course, compliance with UK legislation is reassuring, and compliance with the legislation of an unknown island in the Indian Ocean does not mean anything to most.
However, most brokerage companies are registered offshore. And it's not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are offshore zones popular among brokers. By registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has any claims against such a company, then it is likely that he will have to deal with it in accordance with the legislation of that very conditional Belize. It is possible to be physically present there at the court sessions. And this is extremely expensive and difficult.
But is it worth running like fire from just the word "offshore"? As an answer, we will give the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes through offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point - this is the regulation of the broker's activities. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokerage activities. So, in Russia it is the Central Bank of the Russian Federation. A trader can find permissive documentation on the websites of such bodies. But there are also supranational structures. For example, the International Financial Commission (The Financial Commission), which is an independent self-regulatory organization, considering disputes between its members - brokers and their clients.
If the broker's website does not contain information about the regulation of its activities, then these are almost certainly scammers. Or the site contains information about a certain license issued to him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, study its history. Check out the links to her experts. If one of the leading TV channels in economic news for 5 years in a row refers to the opinion of the analyst of the broker in question, this is good. If a broker claims to have been working for 15 years, but there is no information about him on the Internet at all, this is bad.
It's important to pay attention to company reviews. And read them not only on the website of the broker itself. In the kitchen, they will probably only be laudatory. It is best to browse as many sites as possible.
Pay attention exclusively to the specifics in the offers on the brokers' websites. Honest companies openly write about interest, spread size, minimum deposit, etc. Fraudsters lure with loud, streamlined phrases about a rich tomorrow, stable income, misleading with incomprehensible terms about multi-sites, super functions, and so on.
Find out the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers sometimes hold social promotions. Fraudsters will definitely not do this.
Thus, the process of choosing a broker is complex. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich all over the world.
Any feedback can raise or lower the rating company. To read reviews, go into the rating and select your broker.
In order to leave a review about the broker, go down page, enter a valid email and Your review with an overall score. Reviews are moderated and tracked by the number of comments from the same IP or email. Tech support may request the actual documents that prove that the user was or is a customer of the broker. This rule applies to negative and positive reviews. We want our portal to be honest and independent.
Before any trade and choosing a broker You must always read reviews on this site and on other sites. Brokers who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the broker. SPREADCO received a score of 1 of 5 on our resource.