That place is just as bad as the bucketshop CFD scammers. What if I told you it's possible to trade CFD's at the same rates IB charges in the US for regular stock trading??? Same exchange prices, same exchange spreads. Only it's not available to US-based entities/traders.
Well, I'm not going to mention names here, but there are a few firms that are very competitive. More competitive even, than IB in commissions. They're members of the LSE as well as other big exchanges. So, definitely not bucketshops. But like I said, not available to US based traders.