Founded in 2006, Spread Co is leading, regulated global provider of spread betting, CFD and Forex trading. Customers can access markets all over the world, to trade in cryptocurrency CFDs, currencies, commodities, indices and stocks. Trading costs are kept down by Spread Co through tight fixed spreads, low commissions and low charges on a ‘feature rich’ web trading platform for mobile, tablet and desktop trading. Notably, Spread Co offers 2% interest in cash balances deposited in the trading account. Customers living in South Africa enjoy all the benefits of trading with Spread Co.
Read our Spread Co review to find out about the trading conditions offered by the broker, including funding a live trading account, features of the trading platform and customer support.
Spread Co Special Features
Customers in South Africa and all over the globe, don’t need to waste time considering what kind of trading account they need to meet their personal goals and trading requirements. Spread Co offers a single live trading account for Spread betting and a separate account for Forex and CFD trading. A Demo account is available for either of these two account types.
Spread Co Live Trading Account
The minimum deposit for opening a live trading account with Spread Co is £250, irrespective of whether it’s a spread betting account or a Forex and CFD trading account. Before opening the account, Spread Co recommends that potential customers in South Africa and elsewhere, read the documents on the website explaining the risks involved in spread betting and CFD trading. We consider this to be a transparent and ethical policy, that makes Spread Co a commendable broker.
The trading account features include a relationships manager, low-cost financing – 0% on short index trades, fixed spreads from 0.8 pips and zero account inactivity fees. CFD and Forex trading are free of commissions and there are no micro lots available for trading. Moreover, there is no possibility of opening an Islamic account with Spread Co.
Spread Co Demo Account
We always recommend that whenever possible, traders test the trading platform features and trading strategies, in a risk-free Demo account, before investing real money for online financial trading. Irrespective of their level of trading experience, traders in South Africa and other parts of the world, can usually benefit from becoming familiar with the trading platform and any hidden parts of it that they should get to know. We think that learning during real money trading can lead to losses that may have been avoided with some risk-free preparation and practice trading.
The Spread Co Demo account does not require a real money deposit. Just register an account with the broker and click on the demo tab, to start trading on the limited platform with £25,000 of virtual funds. Customers are given access to 5 currency pairs, 10 equities, 3 indices as well as Spot Gold and Silver. Even though the ‘profits’ from demo trading can’t be withdrawn, the experience can be very valuable for making real profits in the live trading account.
Tip: Trade with IQ Option instead, the best regulated broker for South African traders with a minimum deposit of only $10!
Spread Co Bonus
We didn’t see any mention of promotional bonuses in the Spread Co terms and conditions or anywhere on the website. However, traders who maintain a balance of between £10,000 and £20,000 in a Spread Co trading account, without using it to open trading positions, can earn 2% interest per annum. In a world where many central banks may even pursue negative interest rate policies, we consider this offer to be a good deal for customers.
Spread Co Trading Software Features
Spread betting, Forex and CFD trading take place on a single proprietary trading platform at Spread Co. Customers are given access to more than 1,000 Forex currency pairs, cryptocurrencies, commodities, equities and indices with leverage up to 1:200. Spreads as low as 0.8 pips on EUR/USD are available for spread betting and 1.5 pips for Forex Trading accounts.
Conveniently, traders don’t need to download software, just simply log in through the browser of multiple devices, whether desktop, tablet or mobile phone. The web platform has a customizable screen, allowing traders to select the most useful features for their personal trading objectives. The platform has stop-loss and limit orders, a tiles window feature showing a broad range of information in one place as well as ‘Watch’ lists for keeping a close eye on critical markets.
For stable 24-hour trading with optimum performance, on an iOS or Android-powered mobile device, Spread Co offers free dedicated apps in the Apple App Store and in the Google Play store. The mobile trading app enables traders to trade multiple markets simultaneously with great ease, manage positions and place stop/limit orders. The app is straightforward to use, with a full-screen chart view, drag and drop feature and a fast fingerprint login to the trading account. It even has smart alerts sent to mobile devices from the economic calendar, so that traders never miss an important event.
Spread Co Bitcoin Futures
With a spread betting account at Spread Co, customers can place spread bets on Bitcoin futures, with a low margin requirement of just 20%. It means that traders don’t need to buy and sell physical cryptocurrencies on a crypto exchange, risking low liquidity and extreme market volatility. Instead, they can make bets on the price movements of Bitcoin, and earn profits potentially from both price falls and price rises.
Spread Co Customer Support
It’s very easy for customers to get in touch with the support team at Spread Co. A dedicated UK phone number and email address are given for the client services team, available from Monday to Friday, 8 am to 6 pm UK time. Separate phone numbers and email addresses are given for inquiries about new accounts and for the dealing desk at Spread Co. It’s worth noting that the dealing desk is open from 10 am Sunday to 10 am Friday.
Alternatively, clients can simply use the live chat helpline available 24/5 on the platform interface. We tried out the live chat service and found the agent very polite and efficient. We were pleased that the agent didn’t apply pressure to open a trading account with Spread Co, but simply answered our questions and suggested some links to find out more information about Spread Co. We recommend that customers read the informative FAQs page at Spread Co. It’s packed with clearly explained information about the trading conditions for both spread betting and Forex trading.
Further practical support is provided to customers at Spread Co in the ‘Learn’ section on the website. We found the vast amount of diverse educational material very impressive, and well worth checking out before commencing real money trading or spread betting. Lessons such as ‘How to make money trading Forex’ and ‘How to stop losses in spread betting’ are the kind of tutorials that can assist traders in honing their skills and enhance profits. Importantly, risk management is dealt with separately by Spread Co in the learn section, showing that the company is very transparent about the risks involved in financial trading and spread betting.
Spread Co Payment Methods
Customers at Spread Co are presented with a reasonable range of funding options when opening a live trading account. Customers in South Africa can expect to see some local payment methods indicated at the time of account registration. At the time of writing this review, clients could choose from Visa and Mastercard, bank wire transfer, UK Visa, Delta, and Electron debit cards as well as Skrill electronic payment method.
Notably, customers depositing with credit cards are not charged fees by Spread Co. Moreover, bank wire transfers are only charged a £15 fee if customers request an express transaction. Withdrawals using Skrill are charged a 1% fee and the minimum withdrawal amount across all payment methods is £10. We were impressed to see that customers can make deposits to Spread Co over the telephone, up to an amount of £500 without paying deposit fees. Importantly, Non-UK and Non-EEA residents must provide copies of a valid ID document and proof of address when they open a trading account, in order that Spread Co can verify customers’ accounts.
Spread Co is a financial services company licensed by the Financial Conduct Authority (FCA) in the UK. The company is registered at 22, Bruton, London W1J 6QE in London with company number 05614477.
South Africa newsletter
Signup for the newsletter and keep updated
about the best brokers and auto trading robots.
about the best brokers and auto trading robots.