{{Short description|British gambling company}} {{Use dmy dates|date=May 2015}} {{Use British English|date=May 2015}} {{Infobox company | name = Spreadex | logo = Spreadex Spread Betting | type = Private limited company | foundation = 25th February 1999 | location = Churchill House, 26-30 Upper Marlborough Road, St Albans, Hertfordshire, England | key_people = | industry = Financial spread betting | Gambling | | products = Financial spread betting<br/>Sports spread betting<br/>Fixed-odds betting<br/>Casino | homepage = {{URL|http://www.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.<ref name="magnates">{{cite web|url=https://www.financemagnates.com/forex/tradingview-adds-spread-betting-to-its-platform-via-spreadex-integration/|title=TradingView Adds Spread Betting to Its Platform via Spreadex Integration|date=14 May 2024|website=Finance Magnates|author-first=Damian|author-last=Chmiel|access-date=1 September 2024}}</ref><ref>{{Cite web |title=SPREADEX LIMITED overview - Find and update company information - GOV.UK |url=https://find-and-update.company-information.service.gov.uk/company/03720378 |access-date=2026-06-01 |website=find-and-update.company-information.service.gov.uk |language=en}}</ref><ref name=":0">{{Cite web |title=Spreadex Limited - Licence summary |url=https://www.gamblingcommission.gov.uk/public-register/business/detail/8835 |access-date=2026-06-01 |website=Gambling Commission |language=en-GB}}</ref><ref name=":1">{{Cite web |date=2025-05-15 |title=£2m fine for online operator Spreadex Limited |url=https://www.gamblingcommission.gov.uk/news/article/gbp2m-fine-for-online-operator-spreadex-limited |access-date=2026-06-01 |website=Gambling Commission |language=en-GB}}</ref>
==History== 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.<ref name="history">{{Cite web|url=https://www.spreadex.com/sports/why-spreadex#history|title=Sports Spread Betting {{!}} Why Spreadex {{!}} Spreadex|website=www.spreadex.com|access-date=1 September 2024}}</ref><ref name="cityam">{{Cite web|date=31 May 2019|title=The schoolboy bookie who turned into a spread betting evangelist|url=https://www.cityam.com/the-schoolboy-bookie-who-turned-spread-betting-evangelist/|website=CityAM|access-date=1 September 2024}}</ref><ref>{{Cite web|url=https://www.stalbansreview.co.uk/news/2092197.growing-betting-firm-choses-st-albans/|title=Growing betting firm {{sic|nolink=y|reason=error in source|choses}} St Albans|website=St Albans & Harpenden Review|author-first=Alex|author-last=Lewis|date=4 March 2008|access-date=1 September 2024|archive-url=https://web.archive.org/web/20240901184917/https://www.stalbansreview.co.uk/news/2092197.growing-betting-firm-choses-st-albans/|archive-date=1 September 2024|url-status=live}}</ref>
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.<ref>{{Cite web |last=Hobart |first=David |date=2018-07-18 |title=Exclusive: Spreadex 2018 Revenue up 17% to £59M, Profits hit £27M {{!}} LeapRate {{!}} Online Trading Industry News, Broker Intelligence & Fintech Analysis |url=https://www.leaprate.com/forex/brokers/spreadex-2018-revenue-up-59m-profits-27m/ |access-date=2026-06-01 |language=en-US}}</ref><ref name="cityam"/>
Spreadex appeared in the Sunday Times PwC Profit Track 100 in 2006, 2007, and 2008.<ref>{{Cite web|url=http://www.keltruck.com/Images/2007-ProfitTrack100_178193.pdf|title=Spreadex 34th in Profit Track 100|archive-url=https://web.archive.org/web/20111007184353/http://www.keltruck.com/Images/2007-ProfitTrack100_178193.pdf|archive-date=7 October 2011|url-status=live}}</ref><ref>{{Cite web|url=http://www.fasttrack.co.uk/fasttrack/leagues/dbDetails.asp?siteID=2&compID=1830&yr=2007|title=Spreadex 23rd in Profit Track 100|archive-url=https://web.archive.org/web/20120316172722/http://www.fasttrack.co.uk/fasttrack/leagues/dbDetails.asp?siteID=2&compID=1830&yr=2007|archive-date=2012-03-16}}</ref><ref>{{Cite web|url=http://www.fasttrack.co.uk/fasttrack/leagues/dbDetails.asp?siteID=2&compID=1830&yr=2008|title=Spreadex 49th in Profit Track 100|archive-url=https://web.archive.org/web/20120316172731/http://www.fasttrack.co.uk/fasttrack/leagues/dbDetails.asp?siteID=2&compID=1830&yr=2008|archive-date=2012-03-16}}</ref>
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.<ref>{{Cite web|url=https://www.fca.org.uk/news/news-stories/mf-global-investors-%E2%80%93-your-questions-answered|title=MF Global investors – your questions answered|website=Financial Conduct Authority|access-date=18 May 2026}}</ref><ref>{{Cite web|url=https://home.kpmg/uk/en/home/insights.html|title=Insights|date=16 July 2021|website=KPMG}}</ref><ref>{{Cite web|url=https://www.thearmchairtrader.com/brokers/spreadex/|title=Spreadex Review: CFD Trading and Financial Spread Betting}}</ref><ref>{{Cite web |title=Annual Report 2012 IG Group Holdings plc 31 May 2012 |url=https://www.iggroup.com/~/media/Files/I/IG-Group/documents/investors/financial-results/results-reports-and-presentations/annual-report-12.pdf}}</ref>
In 2013, Spreadex signed a private-cloud agreement with Computacenter. The company later moved its registered office to Churchill House in St Albans. <ref>{{Cite web|date=27 September 2013|title=Spreadex and Computacenter agree private cloud deal|url=https://non.gamstop-casino.co.uk/non-gamstop-betting-sites/|access-date=10 August 2020|website=iGaming Business|archive-url=https://web.archive.org/web/20140114031202/https://www.igamingbusiness.com/news/spreadex-and-computacenter-agree-private-cloud-deal|archive-date=2014-01-14}}</ref>
In 2017, Spreadex was included in the Financial Times list of Europe's 1,000 fastest-growing companies.<ref>{{Cite web|last=Roocroft|first=Andy|date=12 April 2017|title=Five gambling firms named in FT's fastest-growing companies rankings|url=https://egr.global/intel/news/quintet-of-gambling-firms-named-in-fts-fastest-growing-companies-rankings/|access-date=10 August 2020|website=EGR Intel}}</ref><ref>{{Cite web|title=Spread Betting Awards|url=https://www.spreadex.com/financials/spread-betting-award/|access-date=10 August 2020|website=spreadex.com}}</ref>
In 2021, Jonathan Hufford stepped down from his executive role and remained on the board as a non-executive director.<ref>{{Cite web |last=Segal |first=Gerald |date=2021-11-08 |title=Exclusive: Spreadex CEO Jonathan Hufford steps down, as revenues rise 41% in 2021 |url=https://fxnewsgroup.com/forex-news/retail-forex/spreadex-ceo-jonathan-hufford-steps-down-as-revenues-rise-41-in-2021/ |access-date=2026-06-02 |website=FX News Group |language=en-US}}</ref>
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.<ref>{{cite web|url=https://www.reuters.com/markets/deals/spreadex-sporting-index-deal-faces-lengthy-review-by-uk-regulator-2024-04-17/|title=Spreadex-Sporting Index deal faces lengthy review by UK regulator|date=17 April 2024|website=Reuters|access-date=1 September 2024}}</ref><ref name=":2">{{Cite web|url=https://www.gov.uk/cma-cases/spreadex-slash-sporting-index-merger-inquiry|title=Spreadex / Sporting Index merger inquiry|website=gov.uk|publisher=Competition and Markets Authority|access-date=18 May 2026}}</ref><ref>{{cite web|url=https://www.gov.uk/government/news/spreadex-and-sporting-index-merger-raises-provisional-competition-concerns|title=Spreadex and Sporting Index merger raises provisional competition concerns|date=25 July 2024|website=gov.uk|via=Competition and Markets Authority|access-date=1 September 2024}}</ref>
In May 2024, Spreadex made its spread-betting products available through TradingView.<ref name="magnates" />
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.<ref name=":2" /><ref name=":3">{{Cite web |title=Spreadex to sell Sporting Index unit to ease competition concerns, UK regulator says |url=https://www.reuters.com/sustainability/boards-policy-regulation/spreadex-sell-sporting-index-business-ease-uk-competition-concerns-2025-10-03/}}</ref>
In May 2026, the CMA updated the remedy group overseeing the case.<ref name=":2" />
==Operations== Spreadex operates in sports betting and financial trading. Its services are available online and by telephone.<ref name=":0" /><ref name=":1" />
The company's sports-betting products include sports spread betting and fixed-odds betting.<ref name=":3" /><ref>{{Cite web|title=What Is Sports Spread Betting|url=https://www.spreadex.com/sports/get-started/sports-spread-betting/|access-date=10 August 2020|website=spreadex.com}}</ref><ref>{{Cite web |title=CMA publishes final report on Spreadex / Sporting Index deal |url=https://www.gov.uk/government/news/cma-publishes-final-report-on-spreadex-sporting-index-deal |access-date=2026-06-02 |website=GOV.UK |language=en}}</ref>
Spreadex financial trading products include financial spread betting and contracts for difference across asset classes such as indices, shares, foreign exchange. commodities and bonds.<ref>{{Cite web|title=Spreadex Review and Investigation – Is It Trustworthy? |url=https://www.independentinvestor.com/reviews/spreadex/|access-date=2024-09-22|website=www.independentinvestor.com}}</ref><ref name=":1" />
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.<ref name=":0" /><ref name=":1" />
== Regulatory Action == 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.<ref name=":1" /><ref>{{Cite web |title=Spreadex Limited - Regulatory sanctions |url=https://www.gamblingcommission.gov.uk/public-register/business/detail/actions/8835 |access-date=2026-06-02 |website=Gambling Commission |language=en-GB}}</ref>
==References== {{Reflist|30em}}
Category:British companies established in 1999 Category:Financial derivative trading companies Category:Gambling companies of the United Kingdom Category:Financial services companies established in 1999 Category:Financial services companies of the United Kingdom