ProSpreads started life as FuturesBetting.com in 2005, a company which was set up to provide serious speculators with a trading platform which could deliver the level of technology demanded by professional traders.
This platform technology has evolved to deliver the ultimate in Direct Markets Access functionality for executing spread bets on the major indices, currencies and commodities.
The ProSpreads mission is to provide the best in customer service and platform technology. Most of our staff have extensive experience in the financial markets and pride themselves in delivering an excellent spread betting service.
- Configure your own trading platform
- 4 ways to spread bet
- Spreads & No Re-quotes!
- Tax Free Spread Betting
- Trade Inside The Spread
- Fastest Execution
- Reliable Prices
- Level 2 Data
Dislike the platform and dislike the HUGE costs even more
Platform execution was quick, but platform itself was horrible.
Other annoyances include the lack of a portal where you can login and check account balance, trade history etc - you have to wait for EOD statements.
I switched back to real DMA for scalping and started using Prospreads for medium term trades, where their spreads are better than CFD brokers. This hasn't gone well so far either - my OCO orders have been filled very far away from market prices more than once. Each time they have amended the mistake, which is good but it shouldn't be happening. It's very annoying to miss the morning daytrading session because I have to deal with incorrect fills on my Prospreads account. They don't have the most intelligible statements either, so even more annoyance when trying to figure out where their mistakes are.
Conclusion: you're better off using actual DMA for scalping, especially with the platform advantages you get from TT/CQG and I assume Ninja. Longer term, if they could sort out their OCO issues they'd be ok. Good spreads in relation to other spreadbetting although for intraday there is much, much better available, albeit with a much higher min account balance unless you use a US broker in which case you can have intraday DMA goodness for small deposits. Generally annoying platform could be much improved.
I just tried them again today and downgraded my review from 5/10 to 3/10. Terrible, terrible platform. Ridiculously unintuitive and clunky, laggy, slow to update open positions. Really just terrible.
Best there is!
Personally benchmarked their prices against eSignal (my personal charting package), Reuters and Bloomberg (my professional packages) . . . their quotes are spot on.
Two issues for me . .
1) Lack of an API so can't automate stratagies.
2) Only a problem for pure scalpers . . . when I try to sell at the ask / buy at the bid FB effectively place an order with the exchange and the order joins the queue. If another of their clients subsequently joins the queue then we both join the end of the queue (ie the exchange treats this as FB cancel the first (ie my) order and subsequently enters another (ie mine + other client) new order.
Reliable platform , execution and great customer service
Found the platform and execution to be very reliable and the customer service to be of a high standard.
Very satisfied to date.
Updated, or rather downgraded my (rather gushing) review of these due to their shockingly poor platform and charts. Have been using ProRealTime recently so have gotten used to an easy trade-thru package. Dropped PS a line and they confirmed they don't supply feed for Ninja/MetaTrader any more so stuck with playing Donkey-Kong back in the 90's, this is the 21st century guys!
Everything else still ok tho.
Driect Access Trading without the tax!
Best of all I can trade a wide range of futures using direct access technology without the tax burden.
The platform reminds me of TT which was good, but the ladder moves which is ok for me as I trade medium term. When I put money in and asked for it back they were prompt and helpful. Also had a trial of their platform for 2 weeks which helped.
But this is for serious futures traders - and I would definitely recommend them. Velocity is the only one which strikes me as being close - but i have never used them.
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