Juist joined finspreads and deposited cash, when i asked how to take money out of the platform i got this message:
Thank you for your email.
That is correct sir, we are no longer able to return funds to mastercards.
If you wish to withdraw your funds, we will need to ask you to provide a copy of your master card statement, showing the deposits made to us.
This document should clearly show your name and ideally your address and account number. We will also need to see a copy of the back and front of the card, you can block out the security digits at the back and the first 12 digits of the card number.
Finally, we will need to see a copy of your banking statement that clearly shows your account number, sort code and name.
Once we have entered these details into our system, the documents will be returned and you will receive the funds requested.
I apologise for the inconvenience,
What a lot of trouble there making things for me to take money out!!!!!
If your thinking of using finspreads then read the above if your going to use master card
Visually it's nice, but I can't stand the price slippage. The fills that I get are comical, way out in the boonies. This is even in quiet trading times on major indices. The worst part is you watch it happen as you place your order and it takes a few seconds to execute. I'll struggle with it a bit until I find another broker, but it's not really usable for me.
If you had asked me before their recent site and trading platform upgrade i'd have given them a solid 9 or 10 out of 10. But now, since the start of the year, what an absolute shambles. I've experienced slippage on every entry since the start of 2013 as well as slippage on Stop orders and Limit orders if I place them.
Seeing as I experienced about 2 cases of slippage in the past two years I find it incredibly suspect that this has come about since the start of the year and the change of website / trading platform. The only response I can get from them is to use guaranteed stop orders. Seeing as I never had to use them for the previous two years of trading I don't see why I suddenly have to start using them now.
At the moment it feels like i'm paying for the new website and trading platform. I am currently looking for a new company to spread bet with as this simply isn't good enough.
I would have given this a max rating 10 score because the customer services are excellent, the platform is easy to use, stops and limits are automatically closed when the underlying trade is closed so no nasty surprises, and the limits and minimum price per pont make the service very affordable.
My only criticism is that there are often data feed issues causing graphs to lag current prices but these tend to occur when trading switches over to Australia post 10pm GMT.
I prefer www.tradefair.com as the platform feels more advanced. They have automatic stops and you can tear off the deal ticket which you can't on finspreads. I have to say the finspreads education is first class though.
Contra trade ticks instant complimentary ticks delayed.
Platform freezes at crucial times (consistently).
Orders not triggered or filled until trade returned to negative value.
Poor response when attempting to close trades resulting in serious erosion of profit to the point of loss being recorded.
Spreads manipulated to the point where profitable trading is rendered almost impossible.
Is it me or do others have similar/opposite views?
Although sometimes in extremely volitile periods the platform can freeze or slowup due to increased heavy trading. Guaranteed stops will help to prevent this or use the phone which may take a few crucial seconds to get through. The phone manner is very abrupt but efficient, quick and easy. If your not used to talking to a sharp broker and making quick decisions then these may not be for you. Your not the only person they speak with. The mobile platform on my PDA is also extremely useful for when outside or away. Active with them for 4 years.
If you make too much in a short space of time they will close your account. To start with they slowed down the time I had to wait for a Trade Ticket; it prevented me from getting out of bets fast. Since I still managed to make money using their binary markets they closed my account for good.
Find them overall very good, with a wide range of markets online and many more not quoted online. They always give me the price I see, though occasionally I have to hold them up for fills, but they are very good at re-instating incorrect fills, overall I find the platform clunky but simple and easy to use. I have been informed of future developments of their platform and am excited by what they have described. I' m sticking with them....
Helpful, fast at dealing with queries and good execution. Admitedly their platform is looking a little outdated but it still works for me. I think if you look at the previous reviews they have improved greatly over the last couple of years, especially the relaunch of their Trading Academy (which they gladly give me a copy of!).
I'm sticking with them as I hear good things about the future...
I regularly use Finspreads. They are still the cheapest spread bet company around at 50p a point ( it used to be 1p min ). I like to try out my latest whizzo system until it crashes in flames and not at too great a cost. They are a bit slow to log onto the account page though. Min £100 account. Cheapo and not too baddo !
I have not had any problems with finspreads. They provide a good range at good spreads. For me, they provide OCO and contingent orders which is great. The one time I had a problem due to a protracted power failure, they provided excellent phone service. Full marks.
I am writing this after reading the last 3 negative responses. I was quite surprised to read them, as FinSpreads are my SB of choice !!
I tend only to use SB as a means of experimenting with ideas, and rarely trade more than £5 a point, £1 - £3 a point is more usual. ( and mainly the DOW ).
I have been using them for just over a year, and have found them to be most effective.
I have always got the price I wanted, and you do get a chance to buy/sell at the price indicated - you get a buy/sell and a set amount of time to take the trade. So I dont understand the previous posts remarks about prices "slipping". The main reason for using FinSpreads is because of the stops, this gives me piece of mind. I have always had my stops taken at the indicated price. Maybe I am just lucky.
The trading course is quite frankly pants !!
The 8-week set of pamphlets, all show the same examples of what happens if you buy or sell, and what the effects if you are right or wrong. They effectively repeat themselves over the 8 weeks. This "course" is patronising. ( I think its just to get you to trade at the minimum of 50p a trade; as once you have finished the course, you can no longer trade at 1p a point ).
Overall, they are good. The support is overwhelmingly average.
However, overall, I rate them above average.
( this in comparison to my experience of SpreadEx and D4F. I would say CityIndex as well, but after 3 weeks, they still cant set up an account for me !! )
PS: I tend neo to give "top" marks for anything, as it implies its perfect - so for me, a 4 is as good as it gets !