Looks like Finspreads, smells like Finspreads, but it's called Easy2Spreadbet! (huh?)

This is a discussion on Looks like Finspreads, smells like Finspreads, but it's called Easy2Spreadbet! (huh?) within the Spread Betting & CFDs forums, part of the Commercial category; I have just come across this site which was written about in one of my regular emails: www.easy2spreadbet.com As my ...

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Old Apr 29, 2004, 1:50am   #1
 
Bluewave's Avatar
Joined Dec 2003
Unhappy Looks like Finspreads, smells like Finspreads, but it's called Easy2Spreadbet! (huh?)

I have just come across this site which was written about in one of my regular emails: www.easy2spreadbet.com

As my subject line says, the interface looks just like the Finspreads one, but this site has split up Spreadbetting, CFD's, and FOREX into separate parts but using the "easy2....." moniker.

I am a long time Finspreads user and am now wondering what this company is up to (if, as it appears, Fins and Easy2 are one and the same company - client internet contact number is the same!).

It is all very confusing - Easy2 also offers 1p trades for first 8 weeks for beginners, but interestingly has a few advantages over Fins such as free membership to a Traders club which includes free Quantiga and Tradequant subscriptions with "once a month trade" accounts.

Why have loyal Fins customers not been told about this split-off company, and why do Fins feel they need to add another spreadbetting company to the marketplace?

Interestingly, Fins no longer offer spot FOREX as of today - well, you were able to trade live spot via the internet for a few days a while back, then they slapped "phone only" on them. So maybe that was a test for this new site which has tighter spot spreads... e.g. GBP/USD = 4 spread.... competiting with Deal4Free?!

Your thoughts forum people?
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Old Apr 29, 2004, 9:22am   #2
Joined Jan 2003
It states at the bottom of the page that it is a trading name of Finspreads. I am intigued about the spot currency market though. Will call them now and ask.

Let you know.

AT
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Old Apr 29, 2004, 9:29am   #3
Joined Jan 2003
Just called them. Easy2spreadbet are a white label of finspreads and the other IFX markets.

They don't offer internet dealing on daily forex through the spreads platform.

Also, when I clicked the CFD link I saw a 'coming soon' message.

Nothing new really but if could trade spreads cfd and forex through one account would be okay.

Have a great day

AT
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Old Apr 29, 2004, 9:34am   #4
 
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I don't know for sure, (their website isn't very open about the actual names of the people behind this venture - just claims that they are experienced market practitioners), but it sounds like the same people who might have been behind Easy2Trade, an Ofex listed company which recently went bust.

Perhaps someone from Easy2 Spreadbet would care to post on these boards and clear up the confusion?...Better still, give more information about the people behind this venture?
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Old Apr 29, 2004, 2:20pm   #5
Joined Sep 2003
I hope this is Finspreads, if you go to www.easy2spreadbet.com and enter your Finspreads user Id and password, Lo and Behold the Finspreads User Area appears!!!!

Presumably this means to trade spot currencies online you need a separate account with easy2 as well as the account with Finspreads. Very Strange policy. Maybe it's time to switch to D4F?

Stephen
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Old Apr 30, 2004, 1:19am   #6
Joined Jan 2003
My guess is it works like this. Two experienced punters have decided they can do some marketing and get clients signed up to trade CFD, Forex or spreads.

They approached fins for a commission and wanted to label the fins platform. All work would be done by fins except the 'experienced traders' would market the new brand. In return they will receive a commission on the spread from fins.

This is not uncommon and D4F will alos do it if you have an active client base. If I were a UK broker and losing clients to CFD and spreads I would actually do the same to protect my income stream.

If I were someone like VS with 'thousands of happy clients' this would be a great little earner if you can direct all the new punters to trade with your firm.

AT
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Old Apr 30, 2004, 4:13pm   #7
 
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Bluewave started this thread
Quote:
Originally posted by aussietrader
My guess is it works like this. Two experienced punters have decided they can do some marketing and get clients signed up to trade CFD, Forex or spreads.

.....

If I were someone like VS with 'thousands of happy clients' this would be a great little earner if you can direct all the new punters to trade with your firm.

AT
I think you may have hit the nail on the head from the way I found out about Easy2 through an email newsletter, which casually mentioned their name.

I don't see a great advantage to punters trading with Easy2 over Fins though. As mentioned before, to trade spot Forex you need to use separate software which basically acts like any other Forex broker software (but with near-useless short term charts!).

It seems like a way to confuse new punters even more with a service that is near identical to Fins.
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Old Jun 11, 2004, 4:35pm   #8
Joined Nov 2003
I've just received my 4th alert from Fleet Street Publication's 'Swing Trader' (spread betting).

Below Will Akerman's (of Quantigma?) signature is a PS stating that he's done a deal with Easy2 for his subscribers to open an account. After the first trade, one can attend a half-day 'live' trading workshop in July - free.

Having looked at the 'where did you hear about' list, I also noticed Fleet Street Publications and Red Hot Trader listed.

Further examination reveals that Champion Trader and Vince Stanzione are listed as well ...
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Old Jun 11, 2004, 5:00pm   #9
 
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I've just received my 4th alert from Fleet Street Publication's 'Swing Trader' (spread betting).

XPAT

i know it's only your fourth alert, but how do you rate the alerts from Fleet Street, I was considering taking alerts from them under the 'Spread Trader' ?
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Old Jun 11, 2004, 10:05pm   #10
Joined Nov 2003
Hi Dave

The short answer is to look at my posts on the 'Options Trader' thread (Nov '03 onwards) - based on my previous experiences with Fleet Street.

I don't know how other people feel, but my personal view is that either I join these services at exactly the wrong time, or that perhaps they put more emphasis on keeping subscribers dependant on their alerts than actually producing profitable trades.

My latest experience with Swing Trader is no better to date - one 'Buy,' three 'Holds,' and two positions from before I joined reported as 'stopped out' - no actual profits yet, but I'm only paper trading at the moment.

Regards

XP
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