The world of spread betting can prove to be as complex and puzzling as books in a rusty, old library for many an aspiring trader, loaded with confusing and often complicated information that may make little or no sense to someone who is new to the financial markets. What, then, should one be looking out for when choosing a spread betting provider, so that they can be safe in the knowledge that they will land safely on their feet when placing that first crucial spread bet.
Reputation
The past decade has seen the rise of numerous firms - big and small - offering spread betting to aspiring traders. It is important, therefore, to pick one that has a good reputation and offers a solid and reliable trading platform that won't let you down. UK spread betting company Finspreads is a good example of what you could be looking out for when choosing a spread betting provider. The company was one of the first to offer online spread betting in the UK in 1999, and has a very strong reputation in the market, especially among new and beginner traders. More recently, the company has been offering a £100 trading credit* to new spread bettors who open an account with Finspreads.
Education and training
As with any other form of financial trading, your success as a spread bettor will depend significantly on your level of understanding of the financial markets in general and spread betting in particular. For this reason, it is always useful to choose a spread betting provider that offers adequate spread betting training and education so you can take your time to understand how the markets works before you start trading seriously.
24-hour access and customer support
Easy access to your spread betting account is another vital tool that will help to determine your success as a spread bettor. It is therefore very crucial to choose a provider that offers 24-hour spread betting through a range of platforms, such as online and mobile trading, so you can keep an eye on the markets even when you're out and about.
Risk management
A key factor in successful spread betting is understanding and managing the risks involved, and there are a number of tools available to help you do this. For example, Finspreads offers a range of risk management orders, including the all-important guaranteed stop loss orders, so you can know your maximum loss amount right from the outset, even before you place a trade.
Tight spreads
Tight spreads and competitive margins mean cost-effective spread betting. Tracking down the best spreads and margins around can make a significant difference to your bottom line. Finspreads offer tight spreads on thousands of spread betting markets, including 1 point on the FTSE 100, Wall Street, DAX 30 and France 40.
As a leveraged product, spread betting comes with high risk; there is the possibility that you could incur losses greater than your initial deposit. Ensure you fully understand the risks before you start trading.
Find out more about the benefits of spread betting with Finspreads, one of the leading providers of spread betting in the UK.
*Terms and Conditions apply to Finspreads' "£100 Trading Credit" promotion
About Finspreads:
Finspreads is a leading online financial spread betting firm, offering access to thousands of instruments on the world's financial markets.
The company pioneered fully interactive online spread betting in 1999 and continues to invest in technology to ensure that its service remains amongst the market leaders.
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