Comparing the Different Spread Betting Companies

Markets Covered

Widest range of markets possible throughout the industry. Thousands of international shares (7000+ shares including AIM shares) plus stock indices, forex currencies, binaries, options and many others.

Training Facilities

TradeSense (a 6 week education program with reduced trade sizes). Tradesense will allow you to bet 10p per point and upwards for the first two weeks, 20p for the next two, 50p for the next two, then back to the usual £1 per point and upwards.

Webinars and seminars are also available for clients to view and attend. Plus online information, manuals, training, support and 24 hour phone support.

Typical Spreads

IG Index uses variable spreads which mean they will widen their spreads sometimes up to 3 times their typical spread (maximum) depending on the market conditions. In normal market conditions, the typical spread applies.

Dealing Commissions and Fees

IG Index will charge 1.75% for credit (not debit) card payments that reach £1,000 or equivalent in one day. Deposit using Switch/Maestro/Solo/ or CHAPS/BACS to avoid incurring fees for amounts larger than this.

Financing Charges

2.50% over LIBOR if Long - 2.50% under LIBOR if short. Funding is calculated based on the whole position size including the amount you have laid down as margin.

Accounts Available and Credit Facilities

You can either choose a Plus Account or Limited Risk Account type. Credit facilities are available to eligible clients.

The Plus Account has the tightest spreads on offer and the widest range of order types, including limited risk orders and trailing stops. IG will monitor your account by you still stand to lose more than your initial deposit.

With the Limited Risk Account all your trades carry a guaranteed stop loss order (for an additional charge in the form of a wider spread) which means that you cannot lose beyond your chosen stop level. Please note, Limited Risk Account holders can choose to upgrade to a Plus Account at a later stage.

Minimum Stake and Deposit

Minimum Stake depends on the market. Minimum stake for the FTSE Spread is £2 while the minimum stake for the Dow Spread is £1. £10 is the minimum accepted deposit.

Rolling Policy

Profits/Losses on daily rollovers are crystalized every day (i.e. you will have to settle any losses).

Futures

For rolling over a UK Shares or Index spread bet to the next quarter the following applies, close at the closing price minus if long/plus if short normal closing spread. Re-open at the next contract with no spread.

Stop and Limit Orders Available

Market orders, stops, limits, OCO's, guaranteed stop orders, trailing stops and if dones (contingent orders) are available. Guaranteed Stop Orders available on all markets.

Basis for Triggering of Stops

The majority of IG Index's FX, Commodities and Indices are based on the underlying markets price, including IG's spread, hits your stop. For example, if position X is trading at 99 / 101 on the underlying market, and you have a sell stop at 90 and IG's spread is +/- 1, the platform would show the price 98 / 102. The stop loss will only be triggered when a trade in the underlying market is executed at 91, which would put IG's bid price inclusive of spread/premium at 90.

For market maker shares, stop losses are triggered basis corresponding bid/offer prices in the underlying market, meaning that a trade does not necessarily need to be executed in the underlying market in order to trigger the stop. Therefore, using the same example as above this time the stop would be triggered if the underlying market went bid at 91 even if no trade had been executed at that level.

Finally, for markets which IG quotes an out of hours price for and IG Index is therefore acting as a market maker, such as out of hours Indices, a stop level is triggered when their bid/offer price hits the required level. As in this instance there is no underlying market and IG are generating the price based on the business that they see and the movement of other relevant markets, the price IGIndex generates will already have their spread included and will act as the determining factor.

Opening Hours

Round-the-clock. 7 - 24 hour trading on popular markets.

Research and Charting

Professional charting systems are provided by 'Pro-Realtime' - 3 different levels of charts are offered from dead simple to dead not-simple, charts come with indicator builder/creator too, all free. You can trade/manage trades right off the charts too... Technical detailed useful commentary research covering shares, indices, forex, commodities and fixed income is also freely available to clients (provided by Trading Central and Investors Intelligence).

Support

I've had to use IG Index's customer services and am impressed with their helpfulness and knowledge...and a business is only as good as the customer services department.

Details and Signup Incentives

A more detailed review of IG Index UK is available here.

Or click here to sign up for a IG Index spread betting account. No vouchers or sign-up offers are offered but IG have graciously agreed to offer new signups a free forex spread betting book written by their Chief Market Strategist (David Jones) to any new clients who sign up from my site. However, your real reason for signing up (!) - if anything should be for the superb charting package and the huge range of markets covered.

Comments? Inaccuracies!!? Send your comments to traderATfinancial-spread-betting.com The spreads of a particular firm have changed? E-mail us and we will post and update.