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FinancialSpreads.com can easily be mixed up with FinancialSpreads.co.uk, as they are both the same site and both addresses take you to the .com site, or rather the UK web URL tells you to click the .com one.
Financial Spreads is a trading name of London Capital Group Ltd,LCG, (along with Capital Spreads, another trading name, and ProSpreads – yet another).
The Financial Spreads spread betting platform used by this UK spread betting broker is online and browser-based. This is a new platform, (and remember LCG is behind this firm), and has a ‘tear-off’ function so that investors can split their trading screens and adapt the platform to their own needs. This function allows traders to create different tickets, preparing their positions and then sit back until the markets move the way they want.
Trading with Financial Spreads offers a range of markets; commodities, forex, indices and shares – FTSE100, gold, US crude oil, euro/dollar as well as CFDs.
Like all the major financial spread betting brokers Financial Spreads say their spreads are tight at 1 point, but with competition so fierce, this is not as tight as some others, namely Capital Spreads, who offer 0.8.
You can open a free demo account to get your bearings, either in the markets, or on their platform, and they have 24 hour trading, although weekends are not part of their plan. This means you have to do any trading during the week, and for many working people this is not always easy. This greatly limits the time you can spend watching markets and trading, so if weekends are your best time to do some spread betting, this company is not for you. Trading stops on Friday evening and doesn’t resume again until Sunday evening. Compared to many spread betting brokers this is restrictive.
The monetary requirements for using this company are £30 deposit and £1 per point. This is lower than Finspreads, who want a £100 deposit. Risk management and guaranteed stops are part of the parcel you get with this brokerage firm. A spread betting brokers comparison will show not many firms ask for such a small amount.
They do not readily advertise their spreads but to give an idea, some are; 1pt spread the FTSE and DAX, Dollar/Yen, Euro/Dollar and Euro/Pound; 2 points on Pound/Dollar and Wall Street.
Financial Spreads have a ‘Beginners Guide’ to financial spread betting on their site, but this does rely on some knowledge to properly understand what and how spread betting works. Like Intertrader and CMC their spreads are advertised as being fixed, and this is a distinct advantage for many traders.
Financial Spreads now offers clients access to director dealing information provided by Digital Look.
There is a section called ‘Director Deals’ which lets you see whether directors are buying or selling. This can be divided in different ways, (such as field, last week etc), and should help guide customers to a more lucrative deal. This is similar to Gekko’s Social Trading
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