Marketspreads.ie feed back

I have a small account with Marketspreads. And I like them. I'm not doing anything real risky or exciting trading wise, and they've never did me any wrongs. I'm long term long on shares, not using any leverage, and i'm not being charged any daily financing costs.

My only concern is their association with Worldspreads. Even though they've distanced themselves from Worldspreads, there could be reputational damage to Marketspreads which were once Worldspreads in Ireland. But I hope not.
I have an account with a large UK spread betting company as well and I much prefer Marketspreads.

:)
 
HairyMoose said:
I have a small account with Marketspreads. And I like them. I'm not doing anything real risky or exciting trading wise, and they've never did me any wrongs. I'm long term long on shares, not using any leverage, and i'm not being charged any daily financing costs.

My only concern is their association with Worldspreads. Even though they've distanced themselves from Worldspreads, there could be reputational damage to Marketspreads which were once Worldspreads in Ireland. But I hope not.
I have an account with a large UK spread betting company as well and I much prefer Marketspreads.

:)
Click to expand...

I thought Marketspreads was bought out by Worldspreads. Are they still operating?
 
Ross Spur said:
I thought Marketspreads was bought out by Worldspreads. Are they still operating?
Click to expand...

MarketSpreads did a management buyout of the Irish business of Worldspreads to the best of my knowledge. I think one of the traditional Irish stock brokers have a stake in it and it's a private company rather than a listed one now.

To the best of my knowledge anyway ! :)
 
Does anyone know if client money is safe with Marketspreads? Are they FSA regulated?
 
Roonbox said:
Anyone know how this will effect users of their platform?
Click to expand...

You won't be able to trade and you won't be able to withdraw your money. You will eventually be compensated up to a limit but above that limit your money will probably be lost. Same as MF Global and Worldspreads.
 
pboyles said:
You won't be able to trade and you won't be able to withdraw your money. You will eventually be compensated up to a limit but above that limit your money will probably be lost. Same as MF Global and Worldspreads.
Click to expand...

how do you know that they did not segregate
 
Dear Clients,
Yesterday we met with the Bank and there were no surprises. Having been put through this extraordinary process, it’s arguable that, when we’re permitted to reopen, MarketSpreads will be the safest place in these islands to have your spread trading account. Next steps:

• Our auditors, who have already done a huge amount of work on them, are finalising the 2010 accounts. We have every
prospect of getting this done in the next two weeks which will deal with the audit opinion issue.
• The remaining issue is capital adequacy. This is sortable we believe in the next week or so as well, working closely with the
Bank.

We are in the hands of the Bank. It is conceivable that your service will be back in action in the next 2 weeks. In the meantime the platform is available to you for checking prices and charts. Thank you for your continued patience and support.
John McGlade, Joint acting CEO, John McNicholl, Joint acting CEO
 
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