Spread Co Review – Spread Betting

Spread Co are one of the online trading giants, with a lot of products on offer to trade on via a variety of methods. If you want to trade on currencies you can use the Forex lot size trading method, or you can also spread bet on the EUR/USD starting at a £1 a point. To take advantage of all their trading systems you would need to open a couple of accounts, though which seems a bit of a faff, but then again their software is the same across the board, so it’s preferable to signing up with a completely new broker, and getting to grips with another software system, and having to be interchanging between the two all the time if you do opt for both methods.

If you definitely consider yourself to be of ‘spread betting stock’, then Spread Co do have a lot to offer. They’ve probably got the largest range of products on offer anywhere. This is a bit of a double edged sword for the beginner, as the question ‘where do I start?’ leaps screaming at you. The good thing conversely, is that they have such a range that if you pick a few stocks or instruments to research, you will quite easily find a lot of relevant information that will allow you to make a well considered decision as to which stock or instrument to trade on.

Another advantage of such a potentially wide portfolio, is that as long as you have money on account, any stock news item can be acted on very quickly, as practically all the major stocks are on offer. Your approach to trading need not be ‘ad hoc’, but sometimes these opportunities do appear.

Obviously as this is spread betting, margin requirements are quite considerable. For UK stocks, the FTSE 100 and Spot Gold the IMR is 30:1. For currencies, the EUR/USD is 50:1, and the USD/JPY is 150:1. This means that to open a USD/JPY trade at a £1 profit per point move, you would need to have £150 margin available in your account, but that is about the highest margin that you will be asked for, most, are considerably less.

Margin levels are in no way a criticism of Spread Co, as such high requirements are fairly standard, but it needs to be pointed out to beginners that high potential losses that may be entailed if they haven’t got ‘their eye on the ball’. You are not risking your stake, but a lot more, which is why it is called betting. But, conversely this is the system that enables you to make huge profits if you do ‘keep you eye on the ball’.

From a software interface standpoint there are no real complaints about Spread Co’s trading platform, in fact it is definitely one of the better ones out there, and coupled with it’s wide range of instruments to trade on, this is another reason that it is definitely worth trying out, and at the very least, you should try their demo account.

Sign Up at Spread Co here

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The Facts

How To Open An Account

Minimum Deposit

  • £100

Minimum Trade

  • £1

Promotions

Deposit Withdrawal

  • Visa and MasterCard, UK Maestro, Visa-Delta, Solo and Electron cards, bank transfer
  • 2% charge on credit cards.
  • Trading Platform Logon

    Tutorials

    • Online

    Support

    • Telephone (Intl.), webform

    Operating system requirements

    • Online / Windows

    Demo Account

    • Yes

    Sign Up at Spread Co here