CFD Costs Going Up - City Index

[Tuffty]

I see City Index are increasing their finance costs from 1st Nov 05 to LIBOR +/- 2.25% a 38% increase on what they charged before (was LIBOR +1.25% -2%).

Commission still seems to be 0.2% per deal (0.4% round trip).

For the dealing I do they were the best at their old rates.

Anyone got any better deals?

(NB: They don't pay interest on money in the account when it's not used at margin either).

 

[Songoku]

I heard CMC under the name 'Deal4Free' are pretty good. Am with City Index myself along with some friends and remember talking about it. Can't remember details but made a mental note that they seemed ok. Think the gist was that they may have tighter spreads but the financing might not be so good - with the change at City this might not be the case now though.

Found this - http://www.financial-spread-betting.com/Deal4free-review-financial-spread-betting.html

 

[Racer]

I heard CMC under the name 'Deal4Free' are pretty good. Am with City Index myself along with some friends and remember talking about it. Can't remember details but made a mental note that they seemed ok. Think the gist was that they may have tighter spreads but the financing might not be so good - with the change at City this might not be the case now though.

Found this - http://www.financial-spread-betting.com/Deal4free-review-financial-spread-betting.html

Unless they have changed significantly I could not agree with that. I would suggest a look at the other threads on T2W

 

[nobrainer]

Tuffty, open a cmc or etrade account, preferably both if you trade a lot.