Who do you recommend?

[Hade]

Hi there,

I'm quite new to spread betting. I signed up to Finspreads a while back and I've spent a lot of time researching trends and technical analysis stuff. I've done a few trades too.

I'm starting to wonder whether there are any better spread betting companies to go with other than Finspreads. Their interface and features are quite simple and I'm wondering whether another company can offer more advanced features and hopefully smaller spreads. Also their spread is 4 points for rolling.

I'm looking for a trailing stoploss, smaller spreads etc etc...
Thank you.

 

[shadowninja]

Forget the spread. It's how well they fill you. No point having a 1 pt spread if you never get filled.

 

[Countvonaltibar]

Yep, be careful of fast moving markets where you don't get filled quickly. Lots can be made but usually lost in these situations with SB companies.
Depends on whether you make long term or short term trades though.

 

[Fast trader]

I have some problems being filled with IG Index in that they often re-quote you on the spread which can be annoying - they are also 2 pts wide on FTSE

 

[Hade]

Pardon my ignorance, but what do you mean by being filled?
Are you referring to the accuracy of their data?

 

[theoracle]

Pardon my ignorance, but what do you mean by being filled?
Are you referring to the accuracy of their data?

"Getting filled" is the term for having your trade accepted.

What he means is that you are sitting there and the market starts moving up (or down) quite quickly so you think "oh there a good move here, I'll have some of that" and press the buy (or sell) button, e.g. when the price is 4250.

A "good fill" would be when the system comes straight back and says you are long at 4250. A "poor fill" would be when the system sits there for 5 seconds then comes back to you and says the price 4250 is no longer valid and would you like to go in at 4255 instead.

It's annoying when you are trying to enter but at least you can always say no. More serious (and, according to some round these parts, far more common) is when trying to exit a profitable position that is becoming less so...

So what he is saying that if you have a choice of paying a 2 point spread but getting filled on the money every time, this is preferable to an advertised 1 point spread that may on occasion turn out to be a 3, 4, or 5 point spread.

 

[Fast trader]

Thanks theoracle you've highlighted another good point in that you need to have confidence in the spreadbetting partner you go with.

If you ever have any issues with a platform you should ring in immediately and let them know - in fact I'd keep the telephone number handy as soon as you've chosen the provider you want to go with just in case you have any problems.

Finally don't just go with one provider otherwise you won't get the best prices for different markets

 

[rathcoole_exile]

"whom", surely ?

 

[kimsimms]

I think some companies make I good job of providing a tight spread and filling though. So there is definite better value out there than say a Finspreads or an IG.

 

[pit pony]

I think some companies make I good job of providing a tight spread and filling though. So there is definite better value out there than say a Finspreads or an IG.

Have you looked at Futuresbetting.com.?
i cant find anyone to compete with these guys in the futures market.
they dont offer individual stocks which is a pain but worth it just for what they offer.

 

[pit pony]

Hi there,

I'm quite new to spread betting. I signed up to Finspreads a while back and I've spent a lot of time researching trends and technical analysis stuff. I've done a few trades too.

I'm starting to wonder whether there are any better spread betting companies to go with other than Finspreads. Their interface and features are quite simple and I'm wondering whether another company can offer more advanced features and hopefully smaller spreads. Also their spread is 4 points for rolling.

I'm looking for a trailing stoploss, smaller spreads etc etc...
Thank you.

Futuresbetting.com
have a look, the platform is much more advanced than most and gives everything.

 

[rathcoole_exile]

Legendary member gramatically anal !!

nice one fast trader, very funny, just the right way to make friends and introduce yourself properly to everyone on the forum.

i've got a funny one for you too.

you're a pryck

 

[Phil Mibbutz]

Futuresbetting.com
have a look, the platform is much more advanced than most and gives everything.

Yeah, but look at the extra spread they add as commission.

 

[pit pony]

Yeah, but look at the extra spread they add as commission.

90% of spreadbetting companies run books, so they make a market to us around the actual market, when you come to get out of the trade it's easier for them to quote as they now your position.
Futuresbetting.com have a fixed spread which is tighter than 90% of the others aswell,
but most importantly it's a fixed spread.

 

[riogordo]

Yeah, but look at the extra spread they add as commission.

I disagree about the extra spreads. I was with CMC and also had the demo of FB to compare the spreads. It was 10 AM CMC were quoting a 2 point spread and the market of FB was a one point spread. FB add a fixed .5 spread so in total a 1.5 spread. 0.5 tighter than CMC and the actual market price and not where CMC want to make the market. Combined with no re-quotes FB is a no Brainer!