How safe is your Spread bet account ?

Pat494

Legendary member
13,400 1,313
Who knows, but they allow Switch payments which are almost instantaneous so only keep the bare minimum there and get ready to switch money to fund positions as the need arises.

Basically these days don't trust any financial company with large amounts of your money and if you do and they go broke then sorry but you only had your apathy to blame so GET PROACTIVE NOW.

......
Sounds like good common sense ( rare as hen's teeth these days ) to me. I've got just the minimum plus a bit there now..
 

LION63

Established member
746 33
Some of the firms out there are taking steps to minimise the chances of the clients defaulting. Chief among these is City Index that has written to customers to announce a rise in Margn Requirements as of April 3rd.

This will reduce their risk/exposure levels as it gives them a reasonable chance of closing positions before they are owed money. A brutal example of the rises they are to implement is HBOS whose margin rises from 5% to 20%.
 

0007

Senior member
2,201 544
Some of the firms out there are taking steps to minimise the chances of the clients defaulting. Chief among these is City Index that has written to customers to announce a rise in Margn Requirements as of April 3rd.

This will reduce their risk/exposure levels as it gives them a reasonable chance of closing positions before they are owed money. A brutal example of the rises they are to implement is HBOS whose margin rises from 5% to 20%.
Sounds like good sense to me. It's a shame that the bankers (yes, I did say bankers!) also, weren't a bit more responsible in the past.