Best Spread Betting Company for Indices

GeckoTime

Member
70 0
Guys, which spread betting company do you use for trading indices? I am currently using IGindex, but am not too happy about their bid offer spreads, and they have no concept of a rolling cash bet (or they do, but they charge 2 points per day for the FTSE and 3 for the Dow per rollover). Over 10 days for instance, that would cost an extra 50 points on both indices!!!! (complete **** take).

An alternative (again in the context of trading something like the IK system) is to use their FTSE/DOW differential or use the futures, but the combined bid-offer spread on those two is 22 points. Again unacceptable really.

Does everyone use Deal4Free? I see their combined FTSE and DOW spreads are 9 points, and am I right in thinking that their rolling cash bets pay you is you are short, and charge a small amount if you are long?? If so, what do they charge (is it 0.2 points per day?) I am thinking of opening an account with these guys. How does everyone find using their software? (I am a bit reluctant over it, esp. about having to use it at work).
 

jitasb

Active member
116 3
Hi GeckoT..

I've used a fair few firms....agree with you that IG are not good on spreads.
You are correct about rolling cash bets on D4Free, but am not sure what the exact charge is...just check the dealing guide on their website.
I've found their software okay to use and straightfoward. The lower spreads on indices (and shares for that matter) coupled with ability to roll over makes them one of the better firms (IMHO).
Also they have facility to allow limit and stop orders to open a new postion, which I have found quite useful in the past.

Another firm I've used is Finspreads....but they have just upgraded their software and it is all over the place...so haven't traded with them recently..

There is a new kid on the block called CapitalSpreads which has tight spreads on the futures contracts (e.g Dec/Mar Dax=4, FTSE=5,DOW=8) but no rolling contracts. They might be worth checking out.

Personally though, I am converting to the idea of using Direct Access rather than SB firms...

Hope the above was of some help...Good hunting...

Ta..
 

cloudbase

Junior member
22 0
GeckoTime.
Hi. I have s/bet accounts with D4f and Finspreads.
The D4f software is good and the spread on Rolling cash Dow is 5
and S&P .5
It takes a little time to get used to their prices which are their own
hybrid variation of the Futures price.
They are very good at squewing prices at market turns, so although say the cash price has has moved up 20 points their price has only moved up 15.
I use them for their spreads and the platform is very reliable.
You will start to get requotes when you're taking money off them on a regular basis.
They are streets ahead of Finspreads as regards dealing platform and i wouldn't advise opening a Finspread ac.
There is a new co. Capital Spreads which i understand have tight spreads but haven't checked them out yet.
I would never use IG for trading indices. with spreads like that, when you think that they can get 1 point spread headging your bet on the futures, as you say taking the p**s.
 

peedee

1
341 0
When people mention what SB firm they trade with and ask about what alternative companies could offer, would it not be more constructive to ask themselves what is the way i trade, and what am i trading. Don't get the wrong end of the stick, efficiency is all part of the trading map, but if you are getting it wrong then one or two points on the market will not make any difference.
 

GeckoTime

Member
70 0
peedee, yes but why give free money away? 2 points say at £3 a point is an extra £6 of commission every time. Personally I don't like pis*ing money down the drain in this manner.

And thanks for the other suggestions guys, I will check them out
 

cloudbase

Junior member
22 0
GeckoTime..........Justa quick follow up to my last post, i suggested
Capital Spreads, a new co. could be worth a look. Well have tried the demo platform and to be honest it's not much good for trading indices. The price you see when you press the trade button bears no resemblance to the price you are quoted, much the same as Finspreads. I'll leave you to make your own minds up on that one!

cheers Steve.
 

GeckoTime

Member
70 0
Thanks for the update, although I wonder if the demo platform bears a good resemblance to the prices you'd get if you were doing it for real?
 

cloudbase

Junior member
22 0
GeckoTime............Could well be the case, but demo's i've tried before are usually representative, would not be in their interest
for it to be worse.
Only one way to find out and of course in looking to do longer term trades then not so much of a problem.
 

Rainmaker

Active member
201 3
I've had a number of problems with d4f recently, after a year of generally trouble-free trading. I am an active trader and reliability is important - d4f had numerous system and admin problems in recent weeks. They screwed up a telephone trade, cost me thousands. It took weeks for them to rectify the proble. I also lost over £5k in one day when their systems were down - there is no hope of getting any compensation from them for this.

I am also very highly suspicious of the way their prices and spreads move on things like sector indices (even when trading as little as £1 per point) - they regularly requote. Needless to say I don't use them any more - I'm using a futures broker instead.
 
 
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