Spreadex

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Spreadex
Type Privately Held
Industry Financial Services
Founded 1999
Headquarters St Albans, UK
Key people Jonathan Hufford Managing Director
Products spread betting,
sports betting,
fixed-odds betting
Employees 100+
Website www.spreadex.com

Spreadex Ltd is a British-based company that offers financial spread betting, sports spread betting and sports fixed-odds betting.

History[edit]

Spreadex commenced trading in 1999 in Dunstable, Bedfordshire.[1]

The business was founded by former City dealer Jonathan Hufford.[1] He decided to set up his own company with the intention of making spread betting more accessible.[2]

In May 2006 Spreadex launched an online sports betting service and followed that by launching a financial online trading platform soon after.[1]

Spreadex was listed in the Sunday Times PriceWaterhouseCoopers Profit Track 100 for three years in succession. In 2006 Spreadex finished 34th, [3] 2007 they finished 23rd [4] and in 2008 finished in 49th place.[5]

In February 2008 Spreadex moved to offices in St Albans, Hertfordshire and followed this by opening an office in Liverpool in 2010.[6]

In February 2010 Spreadex piloted a JetMiles scheme which allowed their clients to earn flight time in a private jet from their trading.[7]

In May 2010 Spreadex launched a full fixed odds sports betting service allowing bets to be placed in both fractional and decimal format.[8]

In June 2011 Spreadex acquired the client database of extrabet, the sports betting arm of IG Group. [9]

In September 2011 Spreadex introduced an online Casino featuring table, card, slot, video poker, instant win games and a live dealer service. [10]

In January 2012 Spreadex purchased the client database of bankrupt company MF Global Spreads from administrator KPMG. [11]

In November 2012, Spreadex won the Investment Trends award for Best Customer Service for the second year running. [12]

In March 2013 Spreadex purchased the non-equities business of rival spread betting firm Cantor Index.[13]

In April 2013 Spreadex was the first firm to launch leveraged trading on Bitcoin. [14]

In July 2014 Spreadex reported record annual accounts, £18.5m profit before tax from a turnover of £35.4m. This was a 30% increase from the previous year. [15]

In October 2014, to accommodate the firm's growing workforce, Spreadex moved to a larger, newly-refurbished office in St Albans. The location of the office remains a short train journey from Central London. [16]

The same month, Spreadex released its new financial fixed odds markets, also referred to as "Speed Markets", [17] allowing clients to place fixed risk bets on financial markets.

Operations[edit]

Spreadex has operated from St Albans, Hertfordshire since February 2008 after originally being located in Dunstable. Spreadex takes bets via telephone, mobile and via their website.[18]

Spreadex owns financial spread betting company www.shortsandlongs.com which was launched in October 2008.[19] The client database of ShortsandLongs was transferred to Spreadex in March 2012 to consolidate its business.[20]

Spreadex also operates a fixed odds betting pitch at Kempton Park Racecourse.[21]

Regulation[edit]

Spreadex Ltd is authorised and regulated by the UK’s Financial Conduct Authority (FCA). [22]

Spreadex Ltd is licensed and regulated by the gambling commission to provide fixed-odds betting, licence no 000-008835-R-104580-004.[22]

In relation to casino betting, Spreadex Ltd is operating under an Alderney Gambling Control Commission approved Business Association with AGCC Class II License Holder, Amaya (Alderney) Ltd, License #068 [22]

References[edit]

External links[edit]