Spread Co Broker Review
As a company founded by the former Chief Financial Officer of CMC Markets you would expect Spread Co to have a solid grasp of the spread betting world, and there is no doubt that there are some strong benefits to their platform – fixed low spreads being the key one. Their online interface is not the best, however, and without an MT4 option you are limited to trading on a platform that lacks some of the ease of use and aesthetic appeal of CMC itself or other larger platforms. However, the one-to-one account management you will receive from an articulate and well informed rep and the pretty reasonable spreads on offer may convince you to give this 10 year old firm a shot.
Spread Co Broker Review – Products and Spreads
Spread Co clearly focus on core products that are regularly traded. They only provide 2 of our 10 randomly selected basket of products and some pretty normal products (Coffee, USD/MXN) are simply not available. However, if you, like many people, just wish to trade major FX pairs or normal indices then they are not a bad shout. On the largest majors their spreads rival the big players although on some less major majors (!) such as NZD/USD at 2.5 pips the spreads are slightly higher than some.
It is also worth pointing out that although their FX offering is smaller than some, they do have a very strong line in equities, down to UK 250 and Portuguese, Belgian, Finnish, Italian etc equities all on offer!
If you know you want to trade a wide variety of FX or commoditiy products then maybe this isn’t the broker for you. However, if you are an equities trader or trade the FX majors then you may well find that their offering is quite tasty.
Spread Co Broker Review – Interface and Platforms
Not the best front end, not the worst. It is quite spartan and seems to share a common ancestor with some of the platforms provided by other small brokerages (unconfirmed, just a visual surmising!) but the basics are all there and there are plenty of technical indicators. You won’t go wrong with it and the menus are more easily laid out than some. There does appear to be some lag in the system that means you may have to wait a bit longer for certain things to load than desired, but we are talking seconds and fractions of seconds.
With no MT4 option available, if you wish to trade with Spread Co, you really do have to use their platform. If you like the cut back, clean look and feel then you may like it. If you are into the richer visuals on offer at a CMC Markets or City Index then it may not feel quite right to you.
Spread Co Broker Review – Service
When you open at Spread Co account someone will call you and that person will be your personal account manager. If you don’t pick up they’ll leave you a voicemail but you are unlikely to get thousands of pestering calls from them if you don’t really want to chat. The customer service team are very friendly and whilst acknowledging the weakness in their front-end they can also talk you through the positives of trading with Spread Co – primarily: tight, fixed spreads on most products. In short, if you have questions they are there, but you are unlikely to be hounded with questions over your “intention to fund your account” like some spread betting companies.
Spread Co Broker Review – Safety
Spread Co are FCA regulated and have been since 2006. They have strong financial services pedigree in the founders and at a senior level so this gives confidence that all of the correct procedures and processes will be followed regarding client money etc. Additionally, being a London based company it is easy to contact them – giving you the peace of mind that you’ll always be able to find them!
Spread Co Broker Review – Conclusion
Spread Co seem to be a well run challenger broker in the Spread Betting market. If you like their front end and a stripped back service then you know you will be receiving good spreads on the most commonly traded products. Perhaps their Forex offering isn’t the strongest except for great spreads on the big pairs like Euro-Sterling, Cable etc. but if you wish to trade equities then they have a great selection of UK and international shares available. If you would rather avoid a big-player in the market and want to trade either major FX pairs or a variety of unusual shares then Spread Co could be a great option for you.