Please could someone advise me on the best platform for SB?

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jackstamp

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I recently opened a CMC account and am in the process of depositing my first payment in my account. I've heard alot of negative press about CMC and am unsure about whether i should use them?

are they any good or should i look else where?
 
Are you new to spread betting ?.. nice and simple with limited risk try shortsandlongs - depends what you want from the platform - most of the stuff offered isnt that great on any of them in my view.
 
yes extremely green..i take a look at that. i will likely be betting on shares and commodities.
Whats your view on CMC?
 
a friend of a friend reccommended them to me. There just seems to be such mixed reviews on them and it hard to know what to believe being new ot this.
the other one which i was considering, partly due to good review on this, is IG Index.
 
I vote for IG as well. They've been around the longest and are strong in FX, not sure about other markets. CMC are meant to be good at FX, I think one of the C's stands for currency.
 
would IG be suitable for a newbie?
does anyone know what there like in other markets? as its unlikely i would be doing Forex with them.
are there spreads as tights as CMC?
 
jackstamp said:
would IG be suitable for a newbie?
does anyone know what there like in other markets? as its unlikely i would be doing Forex with them.
are there spreads as tights as CMC?
Click to expand...

open an account with both and see for yourself (it is always wise to have 2 accounts incase one "goes down")

both are ok for "newbie".
 
City Index seem to be doing insane amounts of promotion at the moment, i get a flyer shoved in my face everyday at Cannon Street.
Im not sure why but there something which doesnt seem right about them, just a gut feeling.
 
IG was the first SBer I used and the first time I encountered live market prices. The spreads are not the best but unlike others I've tried, they don't seem to delay fulfilment or suspend trading. What's the point in a 1 pip spread if it takes 30 seconds to fill?
 
I would go for IG. I trade very small but I've had no problems with them, and the site/charts are very user-friendly. Spreads aren't the best, but they're not outrageous either.

For what it's worth, Finspreads in my opinion was less than ideal and I wouldn't bother with them.
 
Paddypower have a speedy, simple platform (LCG/Dealing Desk) and will give you £100 to blow while learning the ropes. IMO CMC has generally the most confusing and annoying platform.
 
Hi - I had a quick question about IG - I have just tried to place my first bet but was confused by what appears to be a minimum 12.5% gap between entry price and stop loss. This is much wider than I wanted to have based on the "system" I'm trying to apply (such as it is). Have I misunderstood this? If not, do the other SB companies do the same thing?
 
djboardman said:
Hi - I had a quick question about IG - I have just tried to place my first bet but was confused by what appears to be a minimum 12.5% gap between entry price and stop loss. This is much wider than I wanted to have based on the "system" I'm trying to apply (such as it is). Have I misunderstood this? If not, do the other SB companies do the same thing?
Click to expand...

what trade are you trying to place and where is the stop?
 
djboardman said:
Hi - I had a quick question about IG - I have just tried to place my first bet but was confused by what appears to be a minimum 12.5% gap between entry price and stop loss. This is much wider than I wanted to have based on the "system" I'm trying to apply (such as it is). Have I misunderstood this? If not, do the other SB companies do the same thing?
Click to expand...

Did you open a limited risk account or a plus account? The plus account carrys more risk but is cheaper.
 
shadowninja said:
IG was the first SBer I used and the first time I encountered live market prices. The spreads are not the best but unlike others I've tried, they don't seem to delay fulfilment or suspend trading. What's the point in a 1 pip spread if it takes 30 seconds to fill?
Click to expand...

This is great advice. Don't fall for the trap of automatically going for the SB firm with the tightest spreads, its all about execution!!

IG have a great offering but if you want a simple platform to use which doesn't have all the bells and whistles on that you wouldn't touch anyway, then the City Index/Finspreads platform is ideal. City have gone up in my estimation recently with their iPhone App, its really impressive although it does make it a little too easy to continuously check on your open positions!!
 
I'm sorry to have to say this (actually on quick reflection I'm not) but most of the negative rep, given to SB firms is from new traders who mess up. IMO the following are all fine for your needs; IG, City Index, Capital Spreads (and any of their white label partners), FXCM, ETX capital and CMC. Presumably you're not trying to scalp therefore you shouldn't need to be that spread sensitive. If you swing trade; perhaps working of 4hr TFs you won't experience as many gremlins...
Your first goal is to get you edge defined and uneprinned by your highly disciplined trading strategy, if you're then a consistently profitable trader you can shop at your leisure.. :)
 
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