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Do you want to know which is the better broker between Spreadco and Directrader ?
In the table below, you can compare the features of Spreadco , Directrader side by side to determine the best fit for your needs.
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of spreadco, directrader lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Registered Country/Region | United Kingdom |
Regulation | FCA |
Minimum Deposit | $200 |
Maximum Leverage | 1:30 |
Minimum Spreads | 0.8 pips on the EUR/USD pair |
Trading Platform | Web Platform, Mobile Apps |
Demo Account | Yes |
Trading Assets | Forex, Equities, Commodities, ETFs, Indices |
Payment Methods | Bank wire transferDebit and credit cardSkrill |
Customer Support | 5/24, Email, Phone |
General Information & Regulation
Spread Co Limited is a limited liability company registered in England and Wales with its registered office at 22 Bruton Street, London W1J 6QE. Company No. 05614477. Spread Co is an online spread betting and CFD broker specialising in forex, commodities, equities and indices. Spread Co Limited is authorised and regulated by the Financial Conduct Authority with regulatory license no. 446677.
Market Instruments
With a Spread Co account, investors can trade on a wide range of global markets, from major indices and global equities to foreign exchange currency pairs, commodities, crude oil, precious metals, and bitcoin, to meet a wide range of investment needs.
Account Types
Spread Co has two different types of accounts, the spread trading account and the CFD account. Minimum deposits depend on account types. To open a spread trading account, traders are required a minimum initial deposit of £200 and £250 for a CFD account.
Demo Account
Spread Co does offer a demo trading account for beginners to practice forex trading in a 100% risk-free environment. The Spread Co demo account does not have a specific expiry date. Some features of the Spread Co demo accounts include the following:
Practice trading with £25,000 virtual funds
Develope you strategies with no risk
Learn how risk management tools work
Leverage
Leverage level offered by Spread Co do depends on the regulatory requirement you trading with and the brokerage operates. This applies due to various safety measures applied to eliminate the risks involved while trading, specially for retail traders.
With Spread Co, LverageTrading leverage vary by different instruments:
1:30 for Forex currency pairs,
1:10 for commodities
1:20 for indices
1:5 for enquities
Spreads & Commissions
Spread Co offers commission-free trading, and the broker only takes its cut from the spread. EURUSD spreads start from 0.8 pips, 4 pips for US Crude Oil, 4 pips for Gold, and 40 pips for Bitcoin/USD.
There are no other fee indicated for Spread Co, but traders are advised to verified fees pertainning to the following:
Account maintenance and management
Inactivity fees and Conversion fees
Trading Platforms
What Spread Co offers traders is not the MT4 trading platform, which is currently the most popular one, but its in-house developed online trading platform. This online trading platform requires no download and allows traders to customize their trading experience for experienced traders and novice traders. Anyway, lack of widely used MT4 & MT5 trading platforms really a drawback for such a big broker.
Deposit and Withdrawal of Spread Co
Spread Co allows traders to deposit and withdraw funds from their investment accounts via the following methods:
Credit Card;
UK Credit Card;
Bank Transfer;
Skrill
Spread Co does not charge traders any fees for withdrawals or deposits . Spread Co has no limit to how much you can fund via the platform, but the maximum amount which it can accept for your first payment is GBP500 via the phone. Successfully authorized payments will be available immediately.
Spread Co suppports the following deposit currencies when deposits and withdrawals are made to end from the trading account: GBP, USD, EUR.
Customer Support
Customer services are available in several options: email, whatapp, Live chat, and telephone.
Here are some contact details:
Telephone: 0800 078 9398
Email: info@spreadco.com
Or you can also follow this broker on some social media platforms, such as Facebook, Twitter, and Youtube.
Educational Resources
Spread Co provides clients support through relationship managers that provide assistance as well as providing eucation. The broker provides educational library with multiple guides and video updates along with the market overview, platform, news and economic calendars.
Pros & Cons
Pros | Cons |
FCA-regulated | Additional non-trading fees |
Competitive trading conditions | Limited product portfolios |
7/24 customer support | No Ilslamic account provided |
Demo accounts available | Withdrawal fees are charged |
No deposit fees | Conservative leverage |
Commission-free CFD trading |
Frequently Asked Questions
Is Spread Co legal ?
Yes, Spread Co is a legal broker that adheres to rules and regulations stipulated by the FCA.
Does Spread Co offer a demo account?
Yes, Spread Co does offer a demo account that is valid for 2 weeks.
What is the maximum trading leverage offered by Spread Co?
The maximum trading leverage offered by Spread Co is up to 1:30.
What are the deposit and withdrawal methods supported by Spread Co ?
Payment methods supported by Spread Co include Bank Wire Transfer, Credit/Debit Cards, Skrill.
What is the overall rating for Spread Co ?
The overall rating for Spread Co is 7.06/10 based on its License Index, Business Index, Risk Management Index, Software Index and Regulatory Index.
General Information & Regulation
Directrader is a forex and CFD broker allegedly registered in Saint Vincent and the Grenadines, a country that has no FX regulator, therefore making the broker unregulated there, no matter if it is incorporated in the country or not.
Markets Instruments
With Directrader, clients can partake in the trading of forex currency pairs, commodities, cryptocurrencies, and stocks.
Minimum Deposit
The minimum deposit is $50. Although this sounds encouraging, traders are not advised to register real trading accounts given the fact that Directrader is not subject to any regulation.
Leverage
The leverage is capped at 1:200, which seems a bit too low for a shady and offshore broker.
Spreads & Commissions
From this web trader we learn that the EUR/USD cost of trade is around 3.7 pips. This spread is useless to traders. The only party that can profit from it, if you allow it to, is the broker.
Trading Platform Available
Directrader offers the WebTrader, which contains some features including Pending orders, stop-loss, take -profit, time frames, live news feed, live TV, and some chart customization tool.
Deposit& Withdrawal
Users can invest by means of a bitcoin wallet, Directa, and Collexo. The minimum deposit is $50. Withdrawals are done through bank transfer, BTC wallet, and a credit card.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive spreadco and directrader are, we first considered common fees for standard accounts. On spreadco, the average spread for the EUR/USD currency pair is -- pips, while on directrader the spread is --.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
spreadco is regulated by FCA. directrader is regulated by --.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
spreadco provides trading platform including CFD Account,Spread betting account and trading variety including shares, commodities, forex, cryptocurrencies. directrader provides trading platform including VIP ACCOUNT,DIAMOND ACCOUNT,GOLD ACCOUNT,SILVER ACCOUNT,MINI ACCOUNT and trading variety including --.