ShortsandLongs New Charting Package
December 4, 2009Andy No Comments »
ShortsandLongs Charts
Financial spread betting company ShortsandLongs has supplemented its online trading platform with a sophisticated, all-new charting application – after results from a survey of spreadbetters showed graphs to be the primary requisite for online traders.
ShortsandLongs, which launched in October 2008 as a division of Spreadex, is one of two spread betting providers currently offering free guaranteed stop loss orders to all account holders on all offered markets. The survey collated answers from more than 750 spread betters based in the United Kingdom. And the vast majority (75.6% to be exact) of those surveyed stated that charting tools were the most important trading application for them when trading shares, index or currency trading.
Spokesman Andy MacKenzie commented: ‘Our Free Guaranteed Stops have proved extremely popular as they give spread betters ultimate confidence in knowing their maximum downside to any trade placed, while still allowing them to enjoy open-ended winnings.’
‘However, we are always striving to improve our product and we were keen to speak to investors to find out exactly what was important to them when trading the markets. It seems that spread bettors, whether they are experienced traders or just starting out, like to use detailed technical analysis to draw up key support and resistance levels in their chosen financial instruments before taking up their positions.’
‘Charts were identified as the number one ‘must have’ followed by tight spreads, a reliable trading platform with fast executions, guaranteed stops, mobile phone trading and 24 hour dealing. Our customers have four of those benefits already and we hope to introduce the remaining two very soon.’
The survey also showed that 93.2% of respondents were male with 40.3% aged between 40 and 54 and 34.7% aged over 55. Only 3.9% were aged under 25. 53% said they had been spread betting for more than a year, while 31.3% said they had been spread betting for less than 12 months.
The main reason for undertaking spread betting was listed as the ability to profit from falling markets. Paying no stamp duty or capital gains tax on profits was second and the ability to trade in multiple world markets from one account, the third. As a final note, nearly a third of those questioned said they believed the current UK recession would continue until June 2010.
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