Good spread betting brokers?

[remme001]

Finding a good broker has proven to be quite hard. The fact that I'm looking for a decent spread betting broker also reduces my options but the tax savings can't be overlooked otherwise I would be looking at FXPro or Oanda.

I've written a list of requirements below:

Supports spread betting
MT4 or MT5 platform
ECN broker
Negative account balance protection
Provides range commodities, indicies and forex
Decent spreads
Allows hedge with the same margin
FCA regulated broker
Good customer service
No requotes
Adjustable leverage

Additional plus but not required:
Decent web platform
Guranteed stops
Provides a range of equities

If anyone knows a good broker that matches the requirements above let me know.

 

[remme001]

At this point in time I'm mainly considering ActivTrades as they seem to tick most of the boxes.

 

[marcadam]

Have a look at ETX, their spreads are pretty much as good as it gets last time I saw.

 

[timsk]

Have a look at ETX, their spreads are pretty much as good as it gets last time I saw.

I've been with them for yonks and they're not bad, but they don't offer negative balance protection: "The leveraged trading products available on this website are not appropriate for everyone. It is possible for losses to exceed your account balance. Do not trade with funds you cannot afford to lose and seek advice if you do not understand the risks."
Tim.

 

[remme001]

timsk, I can't seem to make a choice between SB or a CFD broker. The tax advantage for a SB is a big advantage but the fact that brokers (including ETX) offer rediculous bonuses leads me to think these brokers are counting on you to loose it all. I also don't like how its similar to typical gambling sites.

My method would mainly be scalping and from what I've heard SB isn't very good for this because of the size of the spreads. I've come to realise there is no such thing as the perfect broker so I'm going to have to make some compromises and on the top of my list is minimising conflicts of interest between myself and my broker which is why I've mainly been looking towards CFD brokers now. I'm mainly looking at LMAX at the moment.

The reviews on the majority of forex brokers are all largely bad though which doesn't fill me with a great deal of confidence.

 

[propaspaz]

timsk, I can't seem to make a choice between SB or a CFD broker. The tax advantage for a SB is a big advantage but the fact that brokers (including ETX) offer rediculous bonuses leads me to think these brokers are counting on you to loose it all. I also don't like how its similar to typical gambling sites.

My method would mainly be scalping and from what I've heard SB isn't very good for this because of the size of the spreads. I've come to realise there is no such thing as the perfect broker so I'm going to have to make some compromises and on the top of my list is minimising conflicts of interest between myself and my broker which is why I've mainly been looking towards CFD brokers now. I'm mainly looking at LMAX at the moment.

The reviews on the majority of forex brokers are all largely bad though which doesn't fill me with a great deal of confidence.

Hi Remme

Just wondering what broker you were using as I find myself in a similar situation to you, i.e. SB or CFD?

I would like to trade equities as well as indices, commodities and FX, i.e. keep my options open, but realise - like yourself & many others - that the "perfect" broker" is just an abstract concept.

What appeals to me with spread betting is the obvious tax savings but this may well come with a trading scope limitation caveat?

Cheers

 

[remme001]

Hi Remme

Just wondering what broker you were using as I find myself in a similar situation to you, i.e. SB or CFD?

I would like to trade equities as well as indices, commodities and FX, i.e. keep my options open, but realise - like yourself & many others - that the "perfect" broker" is just an abstract concept.

What appeals to me with spread betting is the obvious tax savings but this may well come with a trading scope limitation caveat?

Cheers

My strategy has changed so some of the requirements in my list are not that relevant anymore however if they were I'd give ActivTrades a try. At the moment I'm using Ayondo primarily because of the adjustable margin (great feature), negative balance protection and the fact that they only charge rollover fees on the amount you actually borrow excluding the margin. Their dividend payout is also 100% and they offer free guaranteed stops on certain major markets and are FCA regulated. They are mostly known for social trading but I don't use that feature, just the standard spread bet trade hub account. I also like that they are clear and upfront about their notional values on their deal tickets so I don't need to do the calculations myself.

 

[jkane]

finspreads always been good
fxcm