SpreadMarket Review – Main Features, Pros and Cons Explained

In general, with an FCA regulation, SpreadMarket should be 100% trusted. However, without transparent SpreadMarket reviews and a few more discrepancies, this company can be highly questionable.

That’s why we must go through every detail to determine if this firm can be trusted. So, don’t miss out a bit in this comprehensive SpreadMarket review. You don’t want to complain later.

Legal Information and Regulation

SpreadMarket regulation is one of the key things about this firm. Since the company claims to have an FCA license, we need to check that first. Indeed, the ownership they present to us, BUX Financial Services Limited, can be found in the FCA database. However, there’s a problem. In the same result, it shows that four companies were already trying to clone this legitimate brokerage.

Since the spreadmarket.com domain is not listed in the same regulatory approval, it remains a question does history repeat itself? That’s left up to you to decide. In addition to that, the original Bux Markets company doesn’t have this trading name in their service providers.

Lack Of Reviews Not a Good Sign

Since the firm was created in 2014, there has been plenty of time to build its credibility. Yet, it seems the SpreadMarket broker failed to do so since zero reviews are available. 

Therefore, can we truly trust the company’s features regardless of their license? To find out which companies you certainly can’t trust, read our CrystalFX and TechBerry reviews.

Trading Software Available

If you take a look at any top-tier licensed UK trading firm, you will find most of the time cTrader or Meta Trader platform is offered. Instead of those highly popular options, the SpreadMarket Forex company offers a NetDania trading platform.

Luckily, it appears the platform itself is quite good and could be compared to these most popular ones. It’s a Danish FinTech company that was also winning awards in its early days. Yet, with Client APIs, any company can implement their own charting into their apps. So, be aware of that. All in all, quite a good solution with a wide range of advanced options.

Mobile Trading Another Great Deal

When you compare the MT5 and NetDania, you will realize there’s just a slight difference between download rates. With more than 1 million downloads on PlayStore, it shows you how reliable the app is. Most importantly, traders can enjoy seamless functionalities without fear of manipulation.

SpreadMarket Withdrawal Process

Generally, comparing the SpreadMarket broker and BuxMarkets will show you those are two different worlds. With this firm, traders don’t even know what withdrawal procedures, fees, and processing time are. 

Sadly, without access to legal documents, it’s hard to reveal any of these details. Thus, if you try accessing the legal documents, you will be redirected to a blank page for BuxMarkets.

What Are Trading Fees, Spreads, and Commissions

In general, the SpreadMarket fees are quite mysterious. Same as the commissions and swap rates. Usually, that’s not what traders can expect from an FCA-regulated company. Anyway, the only visible detail about the costs is the spread. Fairly, not the most attractive one, starting from 1.5 pips for AUD/USD.

The key point with the company is missing. That’s a leverage. Bear in mind all UK-regulated firms can offer a maximum of up to 1:30 to retail traders. So, if you get anything higher than that, you better choose another firm.

Testing Out On a Demo Account

If you are unsure if this company is reliable, there’s a SpreadMarket demo account available. Yet, you will still need to deposit money once you start trading with them. Thus, only for 40 days. With such unknown conditions, there could be a lot of pitfalls. Luckily, there’s a guaranteed stop loss and negative balance protection. Of course, if the company is truly regulated.

Anyway, an alternative option to a demo is a funded program, such as Funded Trading Plus. With up to $200k funded on the account, it’s way more comfortable to trade without any stress. But once you get confident in your skills and strategies, that’s where the journey starts.

Customer Support Available

With all the irregularities, it’s quite important that The SpreadMarket trading platform offers trusted contact options. For that purpose, the company decided to offer UK and Denmark phone lines, e-mail addresses, and web contact forms. Yet, without precise working hours revealed. Consequently, you might expect some delays or no responses at all.

Trading With Your Money or Funded Program

Generally, everything is way easier once you find the perfect soil for your trading strategies. That’s why traders should opt for trusted firms where they can explore all the options. Overall, trading with your own money involves risk. That’s why you need to be sure that you know what you are doing.

For that reason, many traders nowadays opt for funded programs. With Funded Trading Plus and their trusted connections with reliable platforms, traders can improve their skills drastically. Most importantly, once they pass the initial phases, they can collect up to 90% of the profit share.

Not to mention it doesn’t involve risking your own money in the trading. Therefore, if you want to see more about it sign up straight away with them and see all the benefits of it. Once you realize how stressless it is, you might even fall in love with trading. Create your account today and maximize the results without fear of losing money!

FAQ