I started spread betting in February and opened an account with Echelon because it was recommended by the company I learned about spread betting from.
After trading with them for about a month I realised that, because I started with a small trading fund and the minimum trade is £1 per point, I was missing out on potential trades because of my risk management strategy.
I liked the Echelon platform, it's an unfussy trading platform that does exactly what it says on the tin. Their customer service was brusque to say the least though.
Finspreads, however, have terrific customer service and a trading platform that's easy to use. There's plenty of support information (including charts) on the available markets.
But the best thing about Finspreads is that you can start your spread betting for just 10p per point for the first couple of months and then 50p per point after that. That makes it ideal for novices and those that have small starting funds.
I've been using finspreads for a week or so now. Generally it's been very good. I like the platform and the customer service have always been nice to deal with. The 10p starting trade option and the trading academy handbook is all very useful.
My only complaints (and the first is a pretty major one in my opinion).
They locked me out of my account without warning. You don't get a message telling you this, your password just fails. It took three phone calls and three hours to get access again, and I had open orders at the time. Customer service always pleasant to deal with, but in terms of actually doing what they said they were going to do, not impressed.
Other complaint is fairly minor, and that's that their mobile client is bugged on my phone, making navigation awkward (I can't go 'back', I have to exit teh application and start it again)
Yes I use IG Index's java client on my iPhone, which works perfectly on WiFi. Using 3G or Edge however, it keeps dropping out, like when I am trying to close a trade.
It kind of "bounces" repeatedly, causing me to have to log out altogether.
A lot of this is down to the iPhone 3G's range and signal, which I think needs some work.
At times, it's an absolute nightmare. Quite comical to see me balancing the phone against a window, or running to the other end of the building etc. I hope a software update will help.
I use both IG Index and Capital Spreads - I check each trade on both platforms to see which has the tightest spread and the most favourable position (often the prices can be different on each). I do prefer the IG set up and it is more appealing to work on in my opinion, so it is the one I leave open for reference, even if the positions are open on Capital, I add the relevant ones to my Watchlist on IG so I can keep an eye on them!
Been using them for some time with minimal activity albeit, I just got started fultime.
The complaint is with revised T&C's. An amendment was issued and I actually bothered to read it, questioned it and got the cold shoulder twice for my request.
I'm politely told to stick my finger my ass - they will"assist" me in closing the account if I disagree with amendments. Unfortnately I can't say that I do, due to lack of response.
Never the less, it strikes me that some evergrowing companies become ignorant to their clientell. Perhaps the current economic state will flush some
hi just checking in here. is anyone there?
dave
http://spreadbettingforbeginners.com
Hi,
I have heard good things about finspread especially the small spread gives less risk for the beginners. My partner has just starting with them so we will see what the feedback is. Many spreadbetting brokers are pretty poor and unsupportive of the trader which is not good..
dave
www.fxonlinetrading.net
Great feedback to the question 'why Finspreads'. Finspreads (www.finspreads.com) has been my provider from the beginning and so far I've done quite well.
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