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Spreadex

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From Wikipedia, the free encyclopedia

Spreadex
TypePrivate limited company
Industry Financial spread betting | Gambling |
Founded25th February 1999
HeadquartersChurchill House, 26-30 Upper Marlborough Road, St Albans, Hertfordshire, England
ProductsFinancial spread betting
Sports spread betting
Fixed-odds betting
Casino
Websitewww.spreadex.com

Spreadex Limited is a British company that provides sports betting and financial trading services. Its product include sports spread betting, fixed-odds betting, financial spread betting and contracts for difference. The company was incorporated in 1999 and is headquartered in St Albans, Hertfordshire.[1][2][3][4]

History

[edit]

Spreadex was founded in 1999 by Jonathan Hufford, a former City of London dealer. The company was initially based in Dunstable, Bedfordshire, and later relocated to St Albans, Hertfordshire.[5][6][7]

Spreadex launched an online sports betting service in 2006 and later introduced an online financial trading platform. In 2010, it added fixed-odds sporting betting.[8][6]

Spreadex appeared in the Sunday Times PwC Profit Track 100 in 2006, 2007, and 2008.[9][10][11]

In 2011, Spreadex acquire the majority of the client list relating to IG Group's Extrabet sports business. In 2012, it purchased the client database of MF Global Spreads. In 2013, it acquired the non-equities financial betting customer base of Cantor Index.[12][13][14][15]

In 2013, Spreadex signed a private-cloud agreement with Computacenter. The company later moved its registered office to Churchill House in St Albans. [16]

In 2017, Spreadex was included in the Financial Times list of Europe's 1,000 fastest-growing companies.[17][18]

In 2021, Jonathan Hufford stepped down from his executive role and remained on the board as a non-executive director.[19]

In April 2024, the Competition and Markets Authority referred Spreadex's acquisition of Sporting Index's business-to-consumer arm for an in-depth investigation. In July 2024, the CMA publihed provisional findings that the transaction raised competition concerns in the supply of licensed online sports spread betting services in the United Kingdom.[20][21][22]

In May 2024, Spreadex made its spread-betting products available through TradingView.[1]

In March 2025, the Competition Appeal Tribunal quashed the CMA's 2024 Phase 2 decision and referred the case back to the CMA for reconsideration. In September 2025, the CMA published its remittal final report and again concluded that the acquisition created competition concerns in the UK licensed online sports spread betting market. In October 2025, the CMA accepted final undertakings requiring the divestment of the Sporting Index business.[21][23]

In May 2026, the CMA updated the remedy group overseeing the case.[21]

Operations

[edit]

Spreadex operates in sports betting and financial trading. Its services are available online and by telephone.[3][4]

The company's sports-betting products include sports spread betting and fixed-odds betting.[23][24][25]

Spreadex financial trading products include financial spread betting and contracts for difference across asset classes such as indices, shares, foreign exchange. commodities and bonds.[26][4]

Spreadex's casino and fixed-odds betting offering is regulated by the Gambling Commission. Its financial trading and financial spread betting products are regulated by the Financial Conduct Authority.[3][4]

Regulatory Action

[edit]

In May 2025, the Gambling Commission imposed a 2.022 million pounds penalty on Spreadex Limited after finding anti-money laundering and social responsibility failings. The Commission also issues a warning and added an additional condition to the company's operating license requiring a third-party audit.[4][27]

References

[edit]
  1. 1 2 Chmiel, Damian (14 May 2024). "TradingView Adds Spread Betting to Its Platform via Spreadex Integration". Finance Magnates. Retrieved 1 September 2024.
  2. ↑ "SPREADEX LIMITED overview - Find and update company information - GOV.UK". find-and-update.company-information.service.gov.uk. Retrieved 1 June 2026.
  3. 1 2 3 "Spreadex Limited - Licence summary". Gambling Commission. Retrieved 1 June 2026.
  4. 1 2 3 4 5 "£2m fine for online operator Spreadex Limited". Gambling Commission. 15 May 2025. Retrieved 1 June 2026.
  5. ↑ "Sports Spread Betting | Why Spreadex | Spreadex". www.spreadex.com. Retrieved 1 September 2024.
  6. 1 2 "The schoolboy bookie who turned into a spread betting evangelist". CityAM. 31 May 2019. Retrieved 1 September 2024.
  7. ↑ Lewis, Alex (4 March 2008). "Growing betting firm choses [sic] St Albans". St Albans & Harpenden Review. Archived from the original on 1 September 2024. Retrieved 1 September 2024.
  8. ↑ Hobart, David (18 July 2018). "Exclusive: Spreadex 2018 Revenue up 17% to £59M, Profits hit £27M | LeapRate | Online Trading Industry News, Broker Intelligence & Fintech Analysis". Retrieved 1 June 2026.
  9. ↑ "Spreadex 34th in Profit Track 100" (PDF). Archived (PDF) from the original on 7 October 2011.
  10. ↑ "Spreadex 23rd in Profit Track 100". Archived from the original on 16 March 2012.
  11. ↑ "Spreadex 49th in Profit Track 100". Archived from the original on 16 March 2012.
  12. ↑ "MF Global investors – your questions answered". Financial Conduct Authority. Retrieved 18 May 2026.
  13. ↑ "Insights". KPMG. 16 July 2021.
  14. ↑ "Spreadex Review: CFD Trading and Financial Spread Betting".
  15. ↑ "Annual Report 2012 IG Group Holdings plc 31 May 2012" (PDF).
  16. ↑ "Spreadex and Computacenter agree private cloud deal". iGaming Business. 27 September 2013. Archived from the original on 14 January 2014. Retrieved 10 August 2020.
  17. ↑ Roocroft, Andy (12 April 2017). "Five gambling firms named in FT's fastest-growing companies rankings". EGR Intel. Retrieved 10 August 2020.
  18. ↑ "Spread Betting Awards". spreadex.com. Retrieved 10 August 2020.
  19. ↑ Segal, Gerald (8 November 2021). "Exclusive: Spreadex CEO Jonathan Hufford steps down, as revenues rise 41% in 2021". FX News Group. Retrieved 2 June 2026.
  20. ↑ "Spreadex-Sporting Index deal faces lengthy review by UK regulator". Reuters. 17 April 2024. Retrieved 1 September 2024.
  21. 1 2 3 "Spreadex / Sporting Index merger inquiry". gov.uk. Competition and Markets Authority. Retrieved 18 May 2026.
  22. ↑ "Spreadex and Sporting Index merger raises provisional competition concerns". gov.uk. 25 July 2024. Retrieved 1 September 2024 – via Competition and Markets Authority.
  23. 1 2 "Spreadex to sell Sporting Index unit to ease competition concerns, UK regulator says".
  24. ↑ "What Is Sports Spread Betting". spreadex.com. Retrieved 10 August 2020.
  25. ↑ "CMA publishes final report on Spreadex / Sporting Index deal". GOV.UK. Retrieved 2 June 2026.
  26. ↑ "Spreadex Review and Investigation – Is It Trustworthy?". www.independentinvestor.com. Retrieved 22 September 2024.
  27. ↑ "Spreadex Limited - Regulatory sanctions". Gambling Commission. Retrieved 2 June 2026.
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