FuturesBetting.com Re-Launching

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FBet

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This was the email I got just a few minutes ago from Them:
:clap::clap::clap::clap::clap:

FuturesBetting.com News

FuturesBetting.com is pleased to announce that the Company is in advanced negotiations with a 3rd party financial institution, with regard to re-launching the business.

When these negotiations reach a favourable completion, to include approval by the financial regulator, clients will be able to re-fund their accounts and start spread betting again.

The team at Futuresbetting.com would like to thank our clients for all their patience and support during the last 4 weeks. We will endeavour to keep you in touch with progress and look forward to being able to service you spread betting requirements again soon.

The FuturesBetting.com Team
 
Just to update - I got an email from them a few minutes ago (after I emailed them to ask what's happening with them) and have been told that they are in the very last stages of closing a deal, should be a few more days from now, and then they're relaunching - hopefully without the nastiness that happened before with that damn Global Trader Europe.

This is great news because, in case you don't know, FuturesBetting are the BEST spreadbetting company bar none - if you trade futures of course! You wont find a better way to make money trading futures!
 
Anymore news about FB, i've pulled most of my funds out of CMC in anticipation.
 
Just to wet the appetite, what's so good about them? I never actually heard of them first time around.

They are a spreadbetting company, correct?
 
As I understand it you actually trade the underlying market. So you trade in the lot sizes (and your trades really do happen in the underlying market). Instead of paying commission the spread is made very slightly wider. A cunning tax dodge basically and anything that keeps money out of Gordon's hands gets my blessing!
 
"The team at Futuresbetting.com would like to thank our clients for all their patience and support during the last 4 weeks..."

So.. what was the problem they had?

Are they not riskier than say someone like Capital Spreads who are FSA regulated?
 
hey guys, new to the forum and joined just to see if there was any news on futures betting. Basically it is the best platform around for the more dynamic trader, direct access to the exchange with the ability to enter into trades and create stop losses in <1sec. If you like to intraday trade with tight spreads and quick execution with no middle man in place to requote u or slow ou down this is for you. Cmc ok but when its volatile it is useless software, requotes galore and stop orders placed after execution of order? Downside u need £10,000 to start(maybe £5000), software tricky to start with, not the most user friendly but when u get used to it its awesome for speed, based in gibralter so is under the Gibralter FSA rules but all clients money is kept in barclays london, recent problem they had in liquidity they returned all funds to clients and its been closed since. I know i am going on here but there is no platform like it if you are the serious trader, missed it so much, fingers crossed it will be back soon. Honestly dont work for them and have no other interest apart from found it awesome.
 
kwickwool said:
hey guys, new to the forum and joined just to see if there was any news on futures betting. Basically it is the best platform around for the more dynamic trader, direct access to the exchange with the ability to enter into trades and create stop losses in <1sec. If you like to intraday trade with tight spreads and quick execution with no middle man in place to requote u or slow ou down this is for you. Cmc ok but when its volatile it is useless software, requotes galore and stop orders placed after execution of order? Downside u need £10,000 to start(maybe £5000), software tricky to start with, not the most user friendly but when u get used to it its awesome for speed, based in gibralter so is under the Gibralter FSA rules but all clients money is kept in barclays london, recent problem they had in liquidity they returned all funds to clients and its been closed since. I know i am going on here but there is no platform like it if you are the serious trader, missed it so much, fingers crossed it will be back soon. Honestly dont work for them and have no other interest apart from found it awesome.
Click to expand...

how many ppl lost their money when it closed down? - since its not FSA (UK) regulated ppl must have lost a lot right?
 
chilltrader said:
how many ppl lost their money when it closed down? - since its not FSA (UK) regulated ppl must have lost a lot right?
Click to expand...

no-one lost a penny, FB returned all money to clients as per Gib FSA requirements. They shut down temporarily as they were clearing through Global Trader who went tits-up.
 
chilltrader said:
how many ppl lost their money when it closed down? - since its not FSA (UK) regulated ppl must have lost a lot right?
Click to expand...

if clients of this firm feel unhappy with its service operation including marketing activities IN THE UK, i do believe they still have right to protect themselves as a retails investment and receive compensation from the relevant FSA regulated firm,seems named Global Trader Europe Limited(402402) because it is participant the clients' trading and they do realize the existing clients are trading through Futuresbetting.com
But all depends on a real loss applied.

In the futuresbetting.com website,there is a UK tele number,that's why I think they are also covered by FSA as non-register.
 
Tha accounts are held in London, futures betting conform to the FSA within Gibralter and when it went tits up due to Global Trader all clients got their funds back so i dont see a problem, does any one else. The fact that you get DEA with the best platform around makes up for the gibralter geography in my book. Anyone got any concerns that i am not aware of?
 
I have just checked their website which has been updated. It looks like they could be re-lauching very soon.
 
Acquisition of FuturesBetting.com Limited ("FuturesBetting.com")

London Capital Group Holdings plc, the leading online financial spread betting and trading company, is pleased to announce that it has acquired FuturesBetting.com, a Gibraltar based financial spread betting business. The consideration consists of an initial £200,000 paid on completion plus a maximum of a further £200,000 dependant upon performance over a three year period.

LONDON CAPITAL HOLDINGS News LCG LCG.L - Interactive Investor
 
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