Finspreads
May 11, 2009 | By Spreadbetting
Sporting Index, one of the market leaders in sports spread betting, established Financial Spreads as its financial spread betting operation in April 1999 by recruiting five traders and a back office team from within the industry.
On-line dealing was introduced in February 2001, providing an alternative to Financial Spreads’ established telephone-based operations.
In May 2002, Sporting Index decided to concentrate on their core business and sold Financial Spreads to IFX Group PLC. In Mid-2006 IFX Markets (which operates Finspreads) was acquired by City Index in their quest to consolidate their position in the industry and now both City Index and Finspreads are subsidiaries of City Index Holdings Ltd. The two companies are now under the same roof and share the same office floor and systems so although retaining the name…it is all City Index driven.
Finspreads claims to have “pioneered fully interactive online spread betting in 1999” and now has, it says, 28,000 clients on its books making well over one million trades a year. It has recently launched an improved trading platform and website. The services it offers are very similar to those of City Index (see above) but listed below are some of its own features.
Features
• the FinspreadsTrading Academy, which covers all aspects of financial spread betting from getting started through to trading tactics.
• stake sizes as low as 10p per point for an eight-week introduction period while knowledge of spread betting and confidence with the Finspreads platform is developed
• existing Finspreads account holders with a friend or colleague who is interested in financial spread betting could receive £100 to trade with by referring them to Finspreads. The friend will need to open a new account, and place three opening trades that meet minimum trade size criteria within the first month of opening the account.
• prices offered in U.K. 100 and U.K. 250 companies, plus other liquid U.K. shares with a market capitalisation over £50m. On U.S. markets, prices are offered in over 500 U.S shares, including leading shares from the DOW JONES, NASDAQ 100 and S&P 500 indices. In Europe prices are offered in all the leading companies quoted in Germany, Holland, Italy, Spain, France and Switzerland, plus larger companies from other European markets
• offers a CFD trading service
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