Spreadex review – 5 things you should know about spresfx.com

Spreadex review – 5 things you should know about spresfx.com

Rating: 1

Beware! Spreadex is an offshore broker! Your investment may be at risk.



Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.


The Spreadex website confidently states that this is “trustworthy premier forex broker” with over 20 years of experience”. But even a superficial inspection gives us many reasons to doubt that this is true. Spreadex does not offer the basic information and functionality one would expect from a genuine financial services provider. Therefore, we can just as confidently conclude that we are dealing with yet another online scam disguised as a broker.


Legitimate forex brokers provide clear and detailed information about the legal entity that owns and operates them, where it is based, what licences it has and which regulators oversee its activities. Lack of such details or improper presentation of them are always a red flag that we are probably dealing with a scam.

The name of the company behind this alleged established broker cannot be found on the Spreadex website. There is also no office address. The only means of contact is by email.  Spreadex does not provide access to Terms and Conditions, Client Agreement, Privacy Policy and other legal documentation required by licensed brokers.

This complete anonymity is proof enough that the Spreadex is a fraud. It also means that there is no good reason to believe Spreadex’s claims to be licensed by regulators in the UK, Cyprus and Hong Kong.

No broker using the Spreadex’s trade name and domain can be found in the Cyprus Securities and Exchange Commission (CySEC) and Hong Kong Securities and Futures Commission (SFC) databases. There is a company named Spreadex Limited on the UK’s Financial Conduct Authority (FCA) register, but it operates through a different domain from that of Spreadex. The regulator warns that there are clones of this company – fraudsters using the licensed company’s details illegally. Spreadex is apparently one of them.

When choosing a broker through which to invest in the financial markets, you should not only make sure that all the information required by law is available, but also that this information is true. Always check that the company is indeed on the records of the specified regulator and that the domain used is among those officially approved for the particular broker.

In some places on the website, a different brand from Spreadex can be seen – Maliksi. This is probably an artefact left over from another project by the same scammers.

Under no circumstances should you trust your money to such anonymous websites full of false and contradictory information. Instead, you can turn to one of the many companies that really work under the supervision of respected regulatory bodies like CySEC or FCA.

As their customer you will enjoy a number of guarantees including negative balance protection and guarantee for your funds if the broker goes bankrupt, which goes up to EUR 20,000 in EU and 85,000 GBP in the UK. Regulations in the UK and EU include some important measures designed to improve investor protection and promote market integrity and transparency, such as transaction reporting. Regulated brokers are also required to segregate their operational funds from the client’s money.


Spreadex claims to offer its clients the industry-standard MetaTrader 4 (MT4) trading platform. But Spreadex does not provide links to download the software or credentials to log into a trading server.

At the time of writing this review, it was possible to register a new account withSpreadex, but not to log into the dashboard. Because of this, we were not able to determine if Spreadex has any trading software at all. But even if there is such software, scammers offer fictitious rather than real trading.

It is advisable to contact one of the many legitimate brokers that offer MT5 or the still very popular MT4. These platforms have established themselves as leaders because they offer a wide range of features, including a wide variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.


Another clear sign that we are dealing with a scam is the total lack of information about the terms of trade on the Spreadex website.

Legitimate forex brokers offer a variety of trading account types tailored to the needs of clients with different capital and investment intentions. These brokers also provide clear and detailed information on trading parameters – leverage, spread, commissions, order execution method, etc.

Many leading companies in the industry allow you to start trading with a very low initial deposit, often under 100 USD.


The Spreadex website does not provide information on available payment methods and transaction fees. As stated, it was also not possible to log into the dashboard, so we could not access the deposit menu.

Experience with scams of this type has shown that fraudsters direct their potential victims to payment methods that do not allow refunds or chargebacks, most commonly cryptocurrencies.

Legitimate brokers typically offer clients a wide choice of transparent payment methods, including bank transfer, credit/debit cards and established e-wallets such as PayPal, Skrill, Neteller or GiroPay.

The lack of a publicly available Terms and Conditions or Client Agreement means that scammers may have set many traps such as hidden fees and impossible-to-meet  withdrawal terms.


Scammers who promise easy money without any effort are nothing new, especially on the internet. But given the excitement around bitcoin and cryptocurrencies in recent years, malicious actors have run rampant more than ever, capitalizing not only on people’s desire to solve their financial woes with a magic wand, but also ignorance and misunderstanding of how blockchain and complex financial instruments actually work.

If your curiosity is stirred by one of the many flashy websites promising easy riches, and you provide your contacts, you will soon be contacted by skillful and persuasive scammers who will convince you to start with a relatively small and “risk-free” investment. If you agree to this, you will be transferred to even more skilled at convincing scammers, who will persuade you to invest even more. Any money you give to such people is money you are unlikely to get back.

Any attempt to withdraw deposits or alleged profits will be hampered by numerous and significant fees, as well as harsh and often prohibitive conditions written into the terms and conditions – such as high trading volume requirements, unexpected “taxes”, or withdrawal fees as high as 10% or even 20% of your funds.


Recovering money you have given to fraudsters is difficult and often impossible. Fraudsters always want you to provide them with documents such as a copy of your ID and proof of address so that they can claim that it is a legitimate transaction, agreed voluntarily between both parties. If the transaction is made by credit or debit card, you can request a cashback and hope for the best, but transactions via wire transfer or cryptocurrencies are not refundable.  It is important not to trust online offers from people who offer to recover your money in exchange for an upfront payment, because this is also a well-known scam.

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