ProSpreads

We've just added ProSpreads to T2W Reviews in Brokers.

Quick Summary: The ProSpreads mission is to provide the best in customer service and platform technology.

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Unbelievable that the best spread betttor around has not had a review. Still as the majority of traders bet £2/point its not surprising.

The platform reminds me of TT which was good, but the ladder moves which is ok for me as I trade medium term. When I put money in and asked for it back they were prompt and helpful. Also had a trial of their platform for 2 weeks which helped.

But this is for serious futures traders - and I would definitely recommend them. Velocity is the only one which strikes me as being close - but i have never used them.

Rating: 10/10

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They are by far the best out there, honest with great customer service and best of all NO RE-QUOTES ! , been with them for over 3 years now.

Rating: 10/10

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I have a feeling that Prospreads (along with some government legislation) has forced many spreadbet providers to clean up their act. Offering DMA and squeaky clean honesty is all it takes to make people notice. I must admit, compared with IG their platform looks clunky and is tricky to use until used to it. But execution is perfect, spreads excellent and support there if you need it.

Rating: 10/10

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I recently opened an account with Prospreads as I wanted to trade US index futures

Found the platform and execution to be very reliable and the customer service to be of a high standard.


Very satisfied to date.

Rating: 10/10

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Been using to trade (scalp) the Bund them pretty much since they started out as FutiresBetting.com

Personally benchmarked their prices against eSignal (my personal charting package), Reuters and Bloomberg (my professional packages) . . . their quotes are spot on.


Two issues for me . .
1) Lack of an API so can't automate stratagies.
2) Only a problem for pure scalpers . . . when I try to sell at the ask / buy at the bid FB effectively place an order with the exchange and the order joins the queue. If another of their clients subsequently joins the queue then we both join the end of the queue (ie the exchange treats this as FB cancel the first (ie my) order and subsequently enters another (ie mine + other client) new order.

Rating: 10/10

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Was hoping to use them for intraday scalping but the platform is below average and spreads too wide for me - ladder is not static so not great for scalping especially at busy times. Clicking on working orders tab only shows them for a short time then switches back to default view of open positions. 'Pull all' button on ladder doesn't pull working orders submitted using order ticket. Coming from TT and CQG the platform is clunky and slow and generally annoying.

Other annoyances include the lack of a portal where you can login and check account balance, trade history etc - you have to wait for EOD statements.

I switched back to real DMA for scalping and started using Prospreads for medium term trades, where their spreads are better than CFD brokers. This hasn't gone well so far either - my OCO orders have been filled very far away from market prices more than once. Each time they have amended the mistake, which is good but it shouldn't be happening. It's very annoying to miss the morning daytrading session because I have to deal with incorrect fills on my Prospreads account. They don't have the most intelligible statements either, so even more annoyance when trying to figure out where their mistakes are.

Conclusion: you're better off using actual DMA for scalping, especially with the platform advantages you get from TT/CQG and I assume Ninja. Longer term, if they could sort out their OCO issues they'd be ok. Good spreads in relation to other spreadbetting although for intraday there is much, much better available, albeit with a much higher min account balance. Generally annoying platform could be much improved.

Rating: 5/10

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