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This is a discussion on colmex within the Spread Betting & CFDs forums, part of the Commercial category; Originally Posted by Hate2Lose Each to their own. I wouldnít take the risk. Itís £50k insurance in the UK. Donít ...

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Old Apr 18, 2014, 3:44pm   #9
 
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Quote:
Originally Posted by Hate2Lose View Post
Each to their own. I wouldnít take the risk. Itís £50k insurance in the UK.

Donít Colmex charge a spread?
They don't charge spreads! However, they charge 0.8 cent/share, which equals to a 0.8 cent spread. I used to trade with IG and paid an average of 10 cent spread, so it looks like I am now saving 90%+ on my commission. I moved to Colmex 3 months ago and so far very happy. One problem is: they don't have Forex on the same platform, so I still use my old IG account for FX trading. They also charge $13/month for US market data, while some other brokers don't charge at all.
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Old May 8, 2014, 8:09pm   #10
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Colmex- money insured?

Does anyone know how this 20k euro insurance work? I am with IB right now but they are super slow. Planning to move but this 'head office in Cyprus' thing itching in my head.
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Old May 8, 2014, 8:40pm   #11
 
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Cyprus has turned the financial services industry around in the past few years, Colmex nor its cliemts were affected during the crisis as the majority of funds were held in HSBC London. Further the Investor Compensation Fund is a Government scheme that insures non-professional investors up to €20,000 in the event of the failure of the broker. If you would like further details please feel free to contact me deane@colmex.com
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Old May 8, 2014, 8:52pm   #12
 
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The platform is very good indeed. Much like proper direct access platforms like sterlin, instaquote etc, used by pro day traders.
Need a few little tweaks here and there in my opinion, but very impressive.
People who are used to the antiquated platforms used by popular CFD/spreadbet firms will love it in
my opinion.

The commissions are around 1c per share I think (?), but I think you can get around half price commissions from someone like IB with their CFD's (0.5c per share). Also there is a small cost for data feed. Think this might be free with IB?

There is also the concern about regulations/safety etc. More investigation required on that issue for me
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Old May 8, 2014, 11:39pm   #13
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IB doesn't allow CFDs at all if you are in US and Canada a major drawback!
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Old May 10, 2014, 10:39am   #14
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I would still stick to UK CFDs brokers as they are well regulated and the funds are protected up to £50k! I am not a CFDs traders (just a forex and spread bettor) but here is a list of UK CFDs brokers with good reputation in the industry

in between, I think IGMarkets has the best platform!

All the best
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Old May 10, 2014, 11:06am   #15
 
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Originally Posted by Spread-Bettor View Post
I would still stick to UK CFDs brokers as they are well regulated and the funds are protected up to £50k! I am not a CFDs traders (just a forex and spread bettor) but here is a list of UK CFDs brokers with good reputation in the industry

in between, I think IGMarkets has the best platform!

All the best
Maybe for swing trading.
For daytrading, the UK brokers are unusable in my opinion.
Gigantic spreads compared to the underlying (IB and colmex have the same tiny spreads as the underlying), and the platforms are a world apart from a direct access trading platform (which is what the colmex platform has copied) in terms of speed.
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Old May 10, 2014, 1:27pm   #16
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Maybe for swing trading.
For daytrading, the UK brokers are unusable in my opinion.
Gigantic spreads compared to the underlying (IB and colmex have the same tiny spreads as the underlying), and the platforms are a world apart from a direct access trading platform (which is what the colmex platform has copied) in terms of speed.
Every person has diffrent methods to jugde and review the best broker. I personally use IG Index and Capital Spreads for my spread bets and I am happy with them, and yes you're right, they are good for swing trading purposes
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