Interactivespreads

[gle101]

Ihave started test trading live with Interactivespreads

I have started live test trading with Interactivespreads. Small stakes but so far so good, really good auto execution and notification. They have not yet started with the cash indices but I have had a few positions on FTSE-100 Fut Sep 07 Rolling, with variable spread from 1.5 point. Not bad considering CS have 3 point spread on this instrument. We will see so how it goes from here.

There seems to be no minimum deposit, and as I understand one can even open an account in any currency, even in Swedish crowns. Get back to me if I am wrong about this. They take 3% if you pay with credit card.

Anybody else on the forum started trading with them?

 

[gle101]

Interactivespreads company information.

I have been in contact with the company and have received the following information.

About the issue of a SB regulated body in Ireland.
"As of next year the Irish FSA will regulate Trade For Free Ltd which is similar to FSA in England, right now spread betting is not regulated on Ireland, just licensed."

Concerning the User agreement I got the following answer as to the similarity with London Capital Group Ltd user agreement.
"Since it is a similar company the user agreement is bound to be similar."

The issue about segregation of clients funds, I have gotten the following information.
"Clients funds are segregated."

Talking with Interactivespreads through their chat facility I also got the following information.
"Accounts open in Swedish Crowns are segregated and secured up to 300.000 Danish Crowns at the Swedish DanskeBank in Sweden. Accounts open in GBP are segregated at Bank of Ireland in Ireland. If the accounts are insured and how much, I have yet to find out.

It has also been confirmed that an account at Interactivespreads can be opened in any currency.

 

[lurkerlurker]

I have been in contact with the company and have received the following information.

About the issue of a SB regulated body in Ireland.
"As of next year the Irish FSA will regulate Trade For Free Ltd which is similar to FSA in England, right now spread betting is not regulated on Ireland, just licensed."

That is good. If the Irish FSA are recognised by our FSA, I might open an account with them at that point.

Concerning the User agreement I got the following answer as to the similarity with London Capital Group Ltd user agreement.
"Since it is a similar company the user agreement is bound to be similar."

Perhaps a better question would be why does your user agreement reference the same pieces of British law as LCG, despite the fact that it would not apply to your firm.

The issue about segregation of clients funds, I have gotten the following information.
"Clients funds are segregated."

Good.

Talking with Interactivespreads through their chat facility I also got the following information.
"Accounts open in Swedish Crowns are segregated and secured up to 300.000 Danish Crowns at the Swedish DanskeBank in Sweden. Accounts open in GBP are segregated at Bank of Ireland in Ireland. If the accounts are insured and how much, I have yet to find out.

It has also been confirmed that an account at Interactivespreads can be opened in any currency.

Thanks for getting us that information GLE.

 

[gle101]

Thanks for getting us that information GLE.

You're welcome. What we see here (FSA in Ireland) is probably that the MiFID directive has already started to have an effect on countries like Ireland. Countries that do not have strongly regulated bodies for SB (financial instruments)are now gearing up to comply with the MiFID directive.