MF Global Spreads
May 11, 2009 | By Spreadbetting
James Man established a commodities brokerage in 1783, and the company was re-named after his grandsons as E.D. and F. Man in 1869. It floated in London in 1994 and, in 2007, MF Global, its brokerage business, was separated from Man Group plc and floated on the NYSE. MF Global Spreads (formerly called Man Spread Trading) is owned by MF Global, and offers spread betting services to U.K. residents and certain other parts of the world.
Features
• uses the Phoenix trading platform which includes all the latest industry standard security features
• new account holders who place two bets get a year’s free access to two leading technical analysis sites – www.Zaks-TA.com and www.Chart-Guide.com (package worth £300)
• new account holders also get a free £2 bet on the Daily FTSE 100 Cash Index, to be closed at any time during the day or automatically at 1630
• the internet platform is available 24 hours a day but trading hours are limited to desk opening hours, which are currently 0700 until 2145 (2115 on each Friday)
• minimum bet size is £5 per penny move in the share price which is equivalent to a trade of 500 shares
• will trade shares with a capitalisation as low as $10m but deposit requiremnets could go up to 99.75%
• orders-aware margining system, developed to help traders make the most of their available trading resources. When calculating funding requirement, MF may take account of any orders tied to open trades. These orders may release funds already allocated to open trades and may reduce risk to a given market
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