Daily/Rolling Spreads

[Bagpus]

Hi,

I've been spread betting for a few months now, mainly on US stocks (end of day). I've had the odd daily bet (usually on Google) and now feel I'd like to get more involved in intraday trading. Before I jump in, I need to decide on the spread betting company I'm going to use.

I currently use IG Index for my EOD trades but their spreads on daily bets are terrible, hence I don't think it's a viable option to use them. City Index spreads seem to be even worse, so I won't be using them. I have also opened an account with CMC (aka Deal4Free) whose spreads seem very reasonable indeed, but I find their dealing interface very clumbersome and 'user unfriendly' compared to the slick and easy-to-use IG Index interface.

I would be most grateful if anybody who day trades using a spread betting company could offer their advice on any of the following questions:

1) Which SB company do you use and how do their spreads compare to the examples I've listed below ?
2) How do you rate their dealing interface, is it user friendly and easy to use ?
3) How do you rate the company as a whole with regards to customer service etc.
4) How do IG and City Index survive with such uncompetitive spreads ?

Adidas Salomon - (City Index 68 - CMC Deal4Free 8 - IG Index 30)
Allianz AG - (City Index 50 - CMC Deal4Free 8 - IG Index 35)
Deutsch Bank - (City Index 38 - CMC Deal4Free 5 - IG Index 30)
SAP AG - (City Index 59 - CMC Deal4Free 18 - IG Index 31)
Volkswagen - (City Index 21 - CMC Deal4Free 2 - IG Index 25)

Alternatively, if you could point me in the direction of a thread / page / web site where this has already been discussed then I would be most grateful. Thanks in anticipation.

 

[the blades]

Hi,

I've been spread betting for a few months now, mainly on US stocks (end of day). I've had the odd daily bet (usually on Google) and now feel I'd like to get more involved in intraday trading. Before I jump in, I need to decide on the spread betting company I'm going to use.

I currently use IG Index for my EOD trades but their spreads on daily bets are terrible, hence I don't think it's a viable option to use them. City Index spreads seem to be even worse, so I won't be using them. I have also opened an account with CMC (aka Deal4Free) whose spreads seem very reasonable indeed, but I find their dealing interface very clumbersome and 'user unfriendly' compared to the slick and easy-to-use IG Index interface.

I would be most grateful if anybody who day trades using a spread betting company could offer their advice on any of the following questions:

1) Which SB company do you use and how do their spreads compare to the examples I've listed below ?
2) How do you rate their dealing interface, is it user friendly and easy to use ?
3) How do you rate the company as a whole with regards to customer service etc.
4) How do IG and City Index survive with such uncompetitive spreads ?

Adidas Salomon - (City Index 68 - CMC Deal4Free 8 - IG Index 30)
Allianz AG - (City Index 50 - CMC Deal4Free 8 - IG Index 35)
Deutsch Bank - (City Index 38 - CMC Deal4Free 5 - IG Index 30)
SAP AG - (City Index 59 - CMC Deal4Free 18 - IG Index 31)
Volkswagen - (City Index 21 - CMC Deal4Free 2 - IG Index 25)

Alternatively, if you could point me in the direction of a thread / page / web site where this has already been discussed then I would be most grateful. Thanks in anticipation.

Hello bagpus,

I believe the only SB firm that matches CMC for spreads is capitalspreads - look on their thread or check this forum - loads of info. (Note - I do use CS after finding the CMC interface not to my liking).

In answer to how IG survive - I believe it's because they offer credit accounts. If you hold your bets for up to 3 months, use wide stops and get a good return of the money you therefore don't tie up, then the costs are much more comparable (do some simple calcs to see for yourself).

If you're a short term trader who uses tight stops, I believe CMC and CS are way ahead.

Cheers,
UTB