WorldSpreads
May 11, 2009 | By Spreadbetting
Founded in 2000 by Conor and Michael Foley and Brian O’Neil, WorldSpreads is Ireland’s largest spread trading company. It trades under two distinct brand names, ‘WorldSpreads’ for financial spread trading and ‘SportsSpread’ for sports spread betting. The company floated on the AIM market in London in August 2007 and on the Irish Stock Exchange’s IEX market in May 2008. The company’s Chairman is Lindsay McNeice, co-founder of Sporting Index.
In June 2008 reported its full year results for the twelve months ended 31 March 2008 and announce that turnover was up 87% to €12.3m (£9.8m) (2007: €6.6m, £5.2m), and operating profit before IPO costs was up 576% to €3.6m (£2.9m) (2007: €0.5m, £0.4m). The average number of bets per day had risen 73% to 4,500 and the company had registered 2,560 new clients in the year.
Features
• the only Irish company in the industry with a UK division, which is approved by the UK Financial Services Authority. This means that it must operate to the professional level of a UK stockbroker
• internationally established with operations in Ireland, UK, Spain, South Africa, Greece, Austria, Germany and Hungary. 44% of all bets and 60% of trading profit earned outside the UK
• offers the tightest spreads in Ireland
• clients can retain the services of a WorldSpreads Trainer to provide free tutorials
• telephone service available between 0700 and 2115 Monday to Friday London time
• minimum bet size for the above markets is generally €5 (or currency equivalent)
• margin required for FTSE 100 constituents, 5%; FTSE 250 constituents, 10%; smaller companies, depends on the capitalisation
• offers Advisory Service to intermediate customers that can demonstrate sufficient experience, knowledge and understanding of trading derivative and margined products. Customers must have recently traded for a minimum of 6 months
On May 11, 2009 spencer wrote:
Excellent service, both friendly and knowledgeable. Good tight spreads with reactive software. Not sure about the interface, its not the prettiest, but it works well.