As title says, I'm trying to collect here names of "spread-betting" or CFD based trading firms. Of course it is in fact a contradiction in terms. However, maybe we can find out a few names with whom at least some basic swing trading (days, weeks) is possible. The firms should be based in US or Euroland, be somewhat regulated and offer all major markets (equities, bonds, currencies and commodities). So far, I'm thinking of MAN UK, maybe CMC markets and GNI. Regards
hallo iam writing my thesis in cfds but i have not foung enough deatils about this subject. can anyone help me or recommend any good books. will be thankful.
There is no such firm, but IG Index are Okayish... Unfortunately most retail punters do not realise that on some spread betting instruments the leverage is around 1:85, compounded by lack of basic position sizing and risk management. CFD's brilliant especially if you do earnings plays and index change trades . Also make sure you have a reliable independent analytical platform or software (Reuters,eSignal,TradeNavigator) as most have very poor charts and dodgy news feeds. Sometimes when there is an event in a jittery market like FOMC,ECB,BOE or NFP have noticed that they kinda freeze things for a few seconds and then unlock a few points later. Should you wander into things like Soybeans,LC,SB these guys will only list one or two months. Use spreadbetting to learn a few things but move on once you can afford a "proper broker". As for CFD's they are great for trades with no more than 10 week lifespan. Be clear with your CFD provider how they calculate financing of a position and how interest is credited or debited (some will charge interest including on amount you have laid down as margin gotta love 'em Esssex Boys). But be on constant look out some of them are rather stupid, as a student made a few pennies doing fixed odds betting on bluesq.com for the DOW, their pricing was quite bad, but they stopped offering it now. If you have a good grasp of options pricing and have the free time you can once in a while take the fixed odds operators for a good clean
A lot of SBs are just plain old F'g crooks. I don't say all but some to watch out for are : IG index - the worst MFs I ever came across , lousy site , lousy spreads , dealers that talk out of their arse , Directors who are wannabe elites but who are 3rd rate crap in reality and worst of all doctoring the log after we had a dispute. Finspreads [ now part of cityindex ] - was good untill they let a guy called fat Dave ruin the whole shabang. The so called compliance can be arseholish: unreasonable and abusive. Worldspreads - I get the impression that they are new and kinda cowboyish. Don't like their software and their customer service is shit. Cityindex - the original and the best I've had so far .The Chairman Mike Spencer is real gent . Word has it that finspreads was a spinoff from them cause one of them claimed Spence " dissed " . Well i guess CI have the last laugh . There are a lot more than this list and I hear the worldspreads and Paddypower are pretty good. but this is my experience.
So to what extent would you like this regulation? Casting no dispersions on any of the CFD/Spreadbetting firms mentioned in this thread but do your due diligence. Read the fine print. I trade futures and decided to run a CFD account alongside (Yeah, greedy). Great at the start- instantaneous fills, stable platform, awesome leverage. Only down was the commission cost. Started to put some #'s togethor and the problems started. Freezing trade tickets, manual over rides etc. I would also be alert to the security of your funds. Edit- There are no CFD firms in the US. Not allowed.