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The recoverability of your money will depend on whether you hold winning trading positions with them or whether you just hold deposits.
I think all Gle was trying to point out here was that although the spread betting companies are market makers, they are basing their price on an underlying product, so they are not just fabricating the market out of thin air.
Ie they’re not saying guess how many fingers I’m holding up, here’s a...
It is worth pointing out here for people interested in spread betting, that whilst there are plenty of anecdotes of people being unhappy with the behaviour of spread betting companies regarding certain trades, this tends to be more relevant for traders (bettors) taking short term, leveraged...