Recommend me a decent spread betting company..?

Stevenfreaken

Stevenfreaken

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What are the best spread betting companies to use? I'm new and I need recomendations...I got an account with IG but they wont let me adjust stop losses when the markets closed..(I can't adjust them in my favour anyway!:mad:) They're spreads seem a bit on the large size aswell...

I tried to open an account with Finspreads, my application was turned down...don't know why yet...got to call them..

I'm recently trained by Traders University and I want decent spread betting broker..?:rolleyes:

Suggestions please chaps?:?:

 
Lots of people have asked on another thread about their course.

How did you find it.

Depending on how much your starting with you should have a look at futuresbetting

Im with IG myself and find them OK........





Stevenfreaken said:
What are the best spread betting companies to use? I'm new and I need recomendations...I got an account with IG but they wont let me adjust stop losses when the markets closed..(I can't adjust them in my favour anyway!:mad:) They're spreads seem a bit on the large size aswell...

I tried to open an account with Finspreads, my application was turned down...don't know why yet...got to call them..

I'm recently trained by Traders University and I want decent spread betting broker..?:rolleyes:

Suggestions please chaps?:?:
Click to expand...
 
gedward3 said:
Lots of people have asked on another thread about their course.

How did you find it.

Depending on how much your starting with you should have a look at futuresbetting

Im with IG myself and find them OK........
Click to expand...
Traders University is actually ok you know...what they've taught me is actually quite a basic strategy (powerplays/chart patterns etc) It was nearly all about charting, identifying indicators, knowing when to buy/sell etc..only trade stocks that tick all the boxes..

They also taught me how to manage a trade once it's triggered...they told me don't even think of moving the stop loss until five days after the trade has started! Then move the stop loss every day there afterwards..

There was very little talk about fundamentals..

I'd say Traders Uni are good at what they do...it cost me just under £2400..it's a two day course which you can do as many times as you like over 6 months..but you'll probably only manage to do the course three times in the 6 months I expect...the course is usually done on a weekend and I believe they only do about 2 a month..but they also do a weekly online seminar every wednesday aswell...

So, basically I'll give them a thumbs up!(y) I did the course because I wanted to learn what the done thing is in successful spread betting - And I believe they have taught me what the done thing is..But only you can decide if it's worth paying almost £2400!
 
Stevenfreaken said:
Traders University is actually ok you know...what they've taught me is actually quite a basic strategy (powerplays/chart patterns etc) It was nearly all about charting, identifying indicators, knowing when to buy/sell etc..only trade stocks that tick all the boxes..

They also taught me how to manage a trade once it's triggered...they told me don't even think of moving the stop loss until five days after the trade has started! Then move the stop loss every day there afterwards..

There was very little talk about fundamentals..

I'd say Traders Uni are good at what they do...it cost me just under £2400..it's a two day course which you can do as many times as you like over 6 months..but you'll probably only manage to do the course three times in the 6 months I expect...the course is usually done on a weekend and I believe they only do about 2 a month..but they also do a weekly online seminar every wednesday aswell...

So, basically I'll give them a thumbs up!(y) I did the course because I wanted to learn what the done thing is in successful spread betting - And I believe they have taught me what the done thing is..But only you can decide if it's worth paying almost £2400!
Click to expand...


Dude,

Dont believe it. Thats you I mean, you shouldn't belive that.

I know you've spent 2.5k but there is no way in the history of man that you can learn 'the done thing', in 2 days (this aint the matrix). You have a long and unpleasant journey ahead of you, one that will test your staying power, your nerves, your will to succeed and just when you thought you cracked it in many many months or years to come, the market will have one more swipe at you. Even when your on your knees beggin for it to stop and that this one must be the right trade, the market will screw you again. Enjoy the pain, theres lots of it but when you are finally able to ride the bike, you will never forget what to do.

Enjoy the ride.

In response to the original question, you'll find that IG are very good, it would be hard to find another SB that matches them let alone beats them. Just get used to not being able to move your stop when the market is closed, do it (obviously) either before or after.
 
Stevenfreaken said:
What are the best spread betting companies to use? I'm new and I need recomendations...I got an account with IG but they wont let me adjust stop losses when the markets closed..(I can't adjust them in my favour anyway!:mad:) They're spreads seem a bit on the large size aswell...

I tried to open an account with Finspreads, my application was turned down...don't know why yet...got to call them..

I'm recently trained by Traders University and I want decent spread betting broker..?:rolleyes:

Suggestions please chaps?:?:
Click to expand...

I don't know your particular circumstances but what you are asking for is impossible particularly with guaranteed stops.

NO sb will let you adjust a guaranteed stop in your favour after the market is closed.

For instance lets say you have a ftse 250 position open with a guaranteed stop, and you see the market is due to gap open resulting in loss of profits. You can't move your stoploss up to the closest possible to protect your profits from yesterdayds close. How is the SB supposed to hedge against that?

Oh yes and IG are the best in my view.
 
I use GFTUK spreadbetting and have had no problems with them, you can open a demo account if you want to give them a trial.
 
Cant beleive any spread firm would turn you down.My understanding is that they only do an electoral check and not a full credit check is that right anyone? IG and CMC generally have good reputations. Spending big money on courses in my opinion is a big im afraid. We all start like that. Most of what you need is on this site or in books. Sometimes it is good to get people to explain things but not for that amount. Most of the main problems you will encounter are in you head,your brain is not trained to lose or accept financial loses
 
Capital Spreads have tighter spreads than IG for at least some markets.

However, I find their trading platform inferior to that of IG in many respects, and it has a rather slow, clunky "feel" to it.

In addition, I find the way that they calculate the amount they deduct from your available trading capital for a given stop loss horribly untransparent. It is also more than IG's for a given stop loss. (This may actually be beneficial if it stops you overtrading from a small account though).
 
Stevenfreaken said:


I tried to open an account with Finspreads, my application was turned down...don't know why yet...got to call them..
Click to expand...


p.s. By the way, if they change their mind and invite you to join them, I hope you turn THEM down, the freaky chuckers! (Be mindful of Groucho Marx's sentiment...).
 
Stevenfreaken said:
What are the best spread betting companies to use? I'm new and I need recomendations...I got an account with IG but they wont let me adjust stop losses when the markets closed..(I can't adjust them in my favour anyway!:mad:) They're spreads seem a bit on the large size aswell...

I tried to open an account with Finspreads, my application was turned down...don't know why yet...got to call them..

I'm recently trained by Traders University and I want decent spread betting broker..?:rolleyes:

Suggestions please chaps?:?:
Click to expand...
why dont you have a look at Futuresbetting.com....DMA and spreadbetting, they dont quote out of hours though,if the market is closed you dont get a price until the product opens again.
 
I think some spreadbetting companies turn you down if you don't have enough savings, income, not enough experience, work for an FSA regulated firm... etc etc you get the idea.
 
Free Portfolio, Share dealing, ISAs, PEPs, SIPPs, CFDs, Spread betting - Interactive Investor i think they use a platform similar to finspreads, plus they deposit a free £100 to your account without you having to deposit a penny :) i feel more comfortable recomending etx's competitors now i dont have to worry about receiving broken bottles from them..... p.s anyone working for them reading this, all you had to do was approve an account for me and give me the £15 christmas present everyone else got and i would have been singing your praises :p
 
UKtradergirl said:
I think some spreadbetting companies turn you down if you don't have enough savings, income, not enough experience, work for an FSA regulated firm... etc etc you get the idea.
Click to expand...

Never heard of this ! The less experience the better and they really couldn't care how much you have in savings as long as you can fund the account to their minimum.

You are correct in part regarding the FSA firm although the spread bet firm themselves couldn't care less. The onus is more on the employee of the FSA regulated firm to know what HIS/HER company allow. A friend of mine is a trader at B.O.N.Y and has been told he would have to register any spreadbetting interest with compliance, whilst a number of FSA regulated firms WILL NOT allow employees to spreadbet at all. But the spreadbet companies would not deny accounts to those who work for FSA regulated firms.
 
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I trade the S&P, and use cmc exclusively. Spread is .7 for fut, .5 for cash. Finspreads do .4 on the cash, and 1.0 on the fut (last time i looked). But you can't trade outside rth with fins,,CMC you can.
 
Stevenfreaken said:
I tried to open an account with Finspreads, my application was turned down...don't know why yet...got to call them..
Click to expand...

Very strange. The only punters they normally turn down are people they have reason to believe will make a profit. Rumour is that Bin Laden has several SB accounts. :)
 
julian said:
Cant beleive any spread firm would turn you down.My understanding is that they only do an electoral check and not a full credit check
Click to expand...

Spot on. I have confirmed this with my buddy at CMC markets. NO SB FIRM to his knowledge do FULL CREDIT CHECKS unless you want a credit facility. You have probably been refused because you aren't on the electoral roll. Or their office bod can't find you on the electoral roll.
 
ceydababy said:
Spot on. I have confirmed this with my buddy at CMC markets. NO SB FIRM to his knowledge do FULL CREDIT CHECKS unless you want a credit facility. You have probably been refused because you aren't on the electoral roll. Or their office bod can't find you on the electoral roll.
Click to expand...

A month ago they wrote me and asked for an electricity bill and a certified copy of my passport. As you know, I live in Spain. There has been a general check on this sort of thing, a bank has asked me for the same.

I should ring and find out exactly what they want.
 
Splitlink said:
A month ago they wrote me and asked for an electricity bill and a certified copy of my passport. As you know, I live in Spain. There has been a general check on this sort of thing, a bank has asked me for the same.

I should ring and find out exactly what they want.
Click to expand...

I had a similar thing with Tradefair, so I told them to stick their account. They wanted verification of my address or some such crap.
 
ceydababy said:
I had a similar thing with Tradefair, so I told them to stick their account. They wanted verification of my address or some such crap.
Click to expand...

I think it's anti-terrorist requirements by the government. As I said, I have had similar requests from other financials. I am in no mood to start changing my accounts around when I am getting satisfaction, especially for such a thing as address verification.

It did mean me going down to the consulate for certification, though. That cost 66 euros for my wife and me for five copies of our passports.

Split
 
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