As their name suggests, Spreadco are all about providing great spreads to its clients. The company claim to offer some of the lowest spreads in the industry and are certainly a great option for traders who require the most competitive spreads available. Its claim to be a market leader in this allows it to compete with larger, established companies such as IG in terms of the spreads that they offer. Spreadco currently offer three markets with spreads below 1 point. The FTSE100, US30 and EUR/USD each have spreads of just 0.8 points and Spreadco also support very low margin trading with only a 30 point margin required on the FTSE100 index.
Spreadco was created by the previous management team of CMC Markets and they certainly demonstrate a lot of experience in the financial betting industry. Perhaps most notable is their attraction to a more diverse group of traders and they include a wide range of translations of their website and platform as well as spread betting options which are compatible with Shar’ia law. The minimum deposit for a Sharia compliant account (which will be swap free) is however $10,000 which is much larger than a regular account which can be opened for as little as GBP200.
Opening an account with Spreadco is very straightforward. Financial betting starts from as little as £1 per point. Importantly, Spreadco is very favourable to those traders who like to hold positions overnight as they don’t charge a financing fee on overnight short rollovers. This feature adds to the ethos of the company which is very focused on being a leading provider of low-cost and economical trading. It is certainly a good option for all types of trader including frequent traders who are looking to take advantage of low spreads as well as longer-term swing traders.
Software
Spreadco offer an online platform accessed through their website. Although their website may appear rather overwhelming, relative to more contemporary online brokers, it reflects the flexibility of the platform. Focusing on spread betting and CFDs the company offer a decent portfolio of available markets; as long as the market is liquid it will be offered at Spread Co. Whilst these markets are all accessible through the online platform the layout is perhaps not designed for the outright novice. In order to incorporate the range of markets it provides, Spreadco has opted for quite a basic design. However, once you get to grips with the layout it is both highly functional and takes a very logical approach to navigation. In this respect, Spreadco is perhaps geared more towards those who have some previous experience of standard trading platforms.
Support
Spreadco offer comprehensive support for their clients. This includes a 24-hour telephone trading desk as well as email and a live chat support service. Their client service helpdesk is open from 8am to 6pm Monday to Friday and they also have a comprehensive online guide to the trading platform as well as a fairly extensive frequently asked questions section.