Opinions on the "cleanest" spread betting platform?

spearchew

Member
80 0
Hi

fully aware of the inherent disadvantages of spreadbetting.
Nevertheless would like to open an account just to place some bets on the side for fun -

I have an ancient CMC markets account but it to be generally "unweildy". Nice to look at from a distance, but sluggish charts / product navigation in general.

Somewhat vague question but I hope one or two readers get my gist - anyone have a wide range of experience with spread betting platforms , and can vouch for one in particular?

Primarily interested in taking punts on the major stock indices, most definitely S&P500.

BTW not too bothered about bid/ask spread, financing costs etc. I'm sure all the spread betting firms do their best to screw you over.

Thanks for suggestions in advance
 
M

member275544

0 0
Hi

fully aware of the inherent disadvantages of spreadbetting.
Nevertheless would like to open an account just to place some bets on the side for fun -

I have an ancient CMC markets account but it to be generally "unweildy". Nice to look at from a distance, but sluggish charts / product navigation in general.

Somewhat vague question but I hope one or two readers get my gist - anyone have a wide range of experience with spread betting platforms , and can vouch for one in particular?

Primarily interested in taking punts on the major stock indices, most definitely S&P500.

BTW not too bothered about bid/ask spread, financing costs etc. I'm sure all the spread betting firms do their best to screw you over.

Thanks for suggestions in advance

ETX for me, nice easy platform, and minimum bet sizes are not excessive, and you can scale out even on the minimum sizes.
 

Hoggums

Senior member
2,176 878
You seem to have the impression that SBs are only interested in manipulating prices in order to get you to lose money.

The truth of the matter is that most punters do this to themselves, but blame the spread betters because they are incapable of admitting their own faults.
 
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spearchew

Member
80 0
I've watched spread betting products side-by-side against Futures price ladders - they clearly follow in tandem.

I think SB's are pretty much for mugs though, that is true. I refer to the inherent bid/ask costs, excessive roll over costs and/or overnight financing.
 

tommac

Active member
202 13
1- ETX 2 -IG 3 -Capital spreads 4 -Tradefair
The size most retail traders punt Sb` is fine. Been with these years and no problems. Don`t scalp and don`t try anything clever . And yes I trade full time
 

BobbyBB

Active member
176 8
I think SB's are pretty much for mugs though, that is true. I refer to the inherent bid/ask costs, excessive roll over costs and/or overnight financing.

True for short term. I have a theory that it takes the average trader at least a few years to work out the critical role that costs play in this game plus the importance of having the ability to buy the bid/sell the offer.

However, spread bets are a useful tool for trading long term via the tax-free advantage but one better make sure they're a profitable trader over the years and have confidence in their ability because tax-free means no CGT offset.

I know one guy who's been investing in Gold with the spread betters for years, ie holding positions for years. All he does is add slightly when they smack it. Keeps his leverage low and is patient.
 

BobbyBB

Active member
176 8
To the OP, look at the spreads. Go with Fins for stock indexes, IG I say for everything else. I use IG, can't complain, rock solid, no problem with prices etc.
 

BobbyBB

Active member
176 8
The truth of the matter is that most punters do this to themselves, but blame the spread betters because they are incapable of admitting their own faults.

I think it was the mob who went to the Carribean (Cuba?) and CLEANED up the casinos. Before they got there, the casinos were heavily cheating their punters, bent cards, crooked roulette etc. But some bright spark looked at the probabilities and said 'hey, we don't need to cheat because we own a similar machine to a printing press'. Word got out that the casinos gave their punters a fair chance, business BOOMED.

No different from the spread betters. Think long term, they don't need to play games especially with Joe or Jane's £5 a point in FTSE :cheesy::cheesy:
 

Splitlink

Legendary member
10,850 1,233
I've watched spread betting products side-by-side against Futures price ladders - they clearly follow in tandem.

I think SB's are pretty much for mugs though, that is true. I refer to the inherent bid/ask costs, excessive roll over costs and/or overnight financing.

Direct dealing is for mugs, too, if they are mugs. In fact, mugs can lose a larger packet quicker, dealing with a futures broker than with an SB.

Now, if the trader is not a mug, then direct dealing has to have the edge, it stands to reason. But he has to have the capital , so we come back to the original question.

Which is the best SB? I'm with Finspreads and have been for donkey's years. They suit me or I would have left them long ago, but I cannot compare them with others.
 
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spearchew

Member
80 0
good feedback across the board.
I concede in the longer run SB might not be such an evil as initially I assumed
 
 
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