Capital Spreads is a division of London Capital Group Holdings plc, an AIM listed Financial Services organisation.
As one of the UK's leading spread betting companies we pride ourselves on offering great value for money and an unrivalled customer service to our clients.
With a Capital Spreads account you can trade many financial markets from across the globe. We offer prices on UK, European, US shares and other global shares, indices, commodities, major, minor and exotic FX rates and bonds.
With typical spreads significantly tighter than those offered by most of our competitors we offer a better value service to our customer base. For example we quote just a 1 point spread on the UK 100 Rolling Daily, the German DAX and the EUR/USD. Our spreads remain fixed and are not variable (except for shares and some markets we quote out of hours).
As well as tight spreads, Capital Spreads’ customers benefit from very low minimum margin requirements, automatic stop losses, which can be guaranteed or set to a trailing stop loss.
We are unique in the industry as we offer newcomers to spread betting a Demo trading account which mirrors the live trading platform in every way (other than the number of products available and any manual intervention). With a virtual cash balance you can learn about spread betting and execute mock trades absolutely free of charge without risking your own capital.
Country: United Kingdom
Excellent and accurate charts.
Their mobile abb is not as great as IGIndex but is ok to check trades (poor for charts).
My main positive is accurate New York close charts (5 bars a week not 6) and small spreads.
Could be better
They don't seem to have a satisfactory answer for the problems. I have decided to test the intertrader platform and it seems to be quicker with no issues. Same group, London Capital and same platform.
unauthorised market executions on account
Has anyone experienced capitak spreads platform executing markets which you believe was not done on your side. I have experienced this twice now with capital spreads and each time they say it is on my side. I have escalated this both to the Financial Ombudsman. I think it has to do with old orders in their system that does not get cancelled by their system although I have cancelled them.
Anyone experienced this. This is very alarming. I am definitely considering to close down my account with them.
capital spreads review
Good for newbies
I am only a recreational user looking for 75+ pip movements so I probably don't get affected so much by slippage as traders or scalpers looking to make their living from spreadbetting.
A good platform for someone looking to dip their toe into financial spreadbetting
I like Cap Spreads
Generally I like the Cap Spreads platform.
I do like the fact that if you trade overnight your profits are shown based on your original entry price and are not closed and re-opened each day which makes it much more work to keep tabs on your positions
Worldspreads beats Capital
While their staff are polite and helpful in general, they are less amiable when dealing with account issues. Withdrawals are a problem, and are generally not processed in a timely manner or on the first request. They have recently had problems with their systems which led to incorrect debits from clients accounts. Unfortunately they appear to have a "act first, ask questions later" policy when it comes to account adjustments, and it is a matter for the client to call and argue for a solution. However, in my experience, they have always paid their liabilities (even if it has been overly complex to arrange a withdrawal).
I feel it important to mention their attitude to fills in this review. Other SB firms do take different approaches, and it is important to know how CS approach this. With TradIndex, you can place "market orders" and are filled at the next available price, regardless of whether the market has moved in your favour or against you. With CMC, in a fast moving market, if you attempt to buy or sell at a price you can be re-quoted, and can choose to accept the new price or not trade. This also applies whether a market has moved in your favour or against you. With Capital Spreads, if the market has moved outside the spread by the time a dealer gets your order (depending on the market and activity on your account you may get automatically filled or it may go to a dealer), your order is filled only if the price is within the original spread or has moved against you. You will not get filled if the market has moved in your favour.
This seems a little unfair, as in a fast moving market the price will be correct at the time you trade, and you cannot cancel the order while it is pending a fill, and sometimes this can be as long as forty seconds. Unnerving to say the least in a fast moving market. No other spreadbetting company does this to my knowledge. With TradIndex, you will get a fill on a market order at the next price, and with CMC you can cancel an order at any time before a dealer fills it. With Capital Spreads it is at their discretion whether to fill you at all, and this will depend on whether the market has moved in your favour or not.
In summary, Capital Spreads falls short of any reasonable client expectation that they would provide services with reasonable skill and care. Platform issues aside, their customer services leaves a lot to be desired, which is most unfortunate. When your own funds are at stake, and the markets being as challenging as they are, problems with a bucket shop make it impossible to trade effectively.
2/10 - for their good spreads and their initially helpful staff. I regret to advise that I have seen necessary to close my account, so I will be contacting them to arrange this shortly. If there are any further difficulties in closing my account, I will post them here.
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