Finspreads spread betting broker

Finspreads Review

1 Star2 Stars3 Stars4 Stars5 Stars (16 votes, average: 3.94 out of 5)
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User Rating:
1 Star2 Stars3 Stars4 Stars5 Stars (16 votes, average: 3.94 out of 5)
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Updated on: May 2, 2017
Deposit Options:
Regulation:
FCA
Spreads FromLeverageTrade Min.Account Min.Loyalty ProgrammeMobile TradingSpecial Offers
0.5 pts 0.5% 10p Beginner Accounts: £50; Other Accounts: £100

iOS

Android

Finspreads and City Index are trading names of GAIN Capital UK Limited. Read our full review of City Index and start trading today!

Read City Index Review

 

Finspreads- Spread Betting For Novice Traders

Finspreads began as a UK-based spread betting platform in 1999. City Index Limited acquired Finspreads in 2006, and that company was in turn acquired by GAIN Capital Holdings Inc. which is now listed on the New York Stock Exchange. Finspreads offers traders a wide range of financial assets, trading platforms, and charting technology.

Among others, Finspreads is fully regulated by the FCA (Financial Conduct Authority) with Reg# FRN 113942 with registration in England & Wales. As a leading UK spread betting provider, Finspreads offers maximum security to clients with segregated funds and coverage up to £50,000. All trades are centrally cleared and client funds are fully protected by FCA regulations.

Trading Market

As one of the premier spread betting providers, Finspreads offers clients low margins on a wide range of products, with tight spreads. For example, Forex spreads begin at 0.5 points on popular currency pairs like the USD/JPY and the EUR/USD. With respect to indices, spreads can begin as low as 1 point for the CAC 40, DAX 30 and FTSE 100 index. The range of trading markets available to spread bettors includes shares, commodities, metals, and currencies. Commodities cover an extensive range of options including soya beans, wheat, coffee, sugar, WTI crude oil, cocoa, Brent crude oil, and others.

As for metals, traders have access to copper, silver, palladium, gold, and others. The widest range of trading markets are the shares. These include US shares, European shares, and UK shares. Spreads are competitively priced at just 0.08% on the low end. The spread betting markets also include day trades. These are exclusively for short-term trading options with zero overnight risk. Some of the most popular UK shares available to day traders include Vodafone, Aviva, and Anglo-American.

Spread Betting Platforms

The trading platforms at Finspreads are expressly designed for iPhone, iPad, Android, and PC users. The iPhone app is a secure way to trade a wide range of assets in rapidly moving markets. It also allows for unfettered access to the global marketplace. Advantage Web – a trading platform at Finspreads, is fully customizable with a myriad of trading tools. These include deal through charting capabilities. Advantage Web is a browser-based trading platform which is sophisticated and comprehensive for maximum efficiency of trades. Among others, traders can enjoy the following benefits with Advantage Web: Transparency in pricing, deal through charts, margin calculators, single click dealing options, a fully customizable user interface, price improvement technology features, and 2 charting packages with multiple technical indicators. The iPhone trading platform is equally powerful. For spread bettors, this trading platform is second to none as it offers a wide range of limit orders and guaranteed stop losses, customized watch lists, trading alerts, economic calendars, instant execution of trades and 24/7 access to the financial markets.

Android users at Finspreads get to enjoy a powerful mobile trading platform which allows for quick and easy opening of positions, trading the markets, and mobile functionality. Traders can easily check the latest market prices and movements, open/close positions, access charting packages, and set stop orders/limit orders at their leisure. The Android tablet app offers a wider range of features, including real-time charting, Spreadbetting accessibility 24/7, and full access to the trader’s spread betting account. The powerful spread betting platforms are customized to Finspreads’ specs. The trading platforms are intuitive, user-friendly and resource rich.

Benefits

There are many benefits to selecting Finspreads as your preferred trading brokerage. For starters, all traders will enjoy maximum risk management functionality, low stakes sizes, low margins, and tight spreads. But some of the best tools available to traders are the educational resources and training facilities. Client money protection is assured with segregated accounts, and full licensing and regulation by the FCA and other regulatory agencies.

Site Strengths

Finspreads has many things going for it, including a wide range of trading platforms for iPhone, iPad, and Android users. The spread betting education section is particularly useful in that it provides information on understanding markets, trading psychology, technical and fundamental analysis. A range of spread betting tips is provided as well. There are 3 unique account types, including a Limited Risk Account, a Standard Account, and a Beginners Account. These cater to traders across the spectrum with low minimum stakes sizes, full access to the trading platforms and a wide range of trading markets. Other site strengths include the market analysis features. An economic calendar and regularly updated market news makes it much easier to understand the mechanics of the markets. Other features include the transparency at Finspreads. Traders are provided with clear information on spread betting and its attendant risks and benefits.

Site Weaknesses

Various customer forums tend to reflect dissatisfaction with the new trading platform at Finspreads. There has been talk of delays in trade execution, and unreliable trading at times. It should be borne in mind that there is an inactivity fee levied on accounts when no action has taken place for over 12 months. This can rise to £25 if the account balance is less than £25. However, the account balance can never fall below zero. As with other regulated brokerages, only traders from specific jurisdictions and countries can trade for real money.

Conclusion

As far as quality spread betting providers go, Finspreads is on the money. Clients can access a wide range of tradable assets across multiple markets at the click of a button. These include indices, shares, currencies, and metals. The educational resources are really useful and will help novice traders understand the intricacies of spread betting markets.

Spread betting carries a high level of risk to your capital with the possibility of losing more than your initial investment and may not be suitable for all investors. Ensure you fully understand the risks involved and seek independent advice if necessary.

 

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