Spreadex Records Increased Client Activity

The markets may have suffered a sell-off at the end of last week, but figures have been holding up for one city trading firm. Spread betting firm Spreadex recorded the highest monthly bet numbers in the firm’s 10 year history during October.

The numbers – which include trades made on the company’s ShortsandLongs platform – were up 8.6% on previous best-ever levels, helped by the launch of Spreadex’s revamped website at the start of the month.

Spokesman Andy MacKenzie said: ‘Like most firms, 2009 has been a tough one for us with many of our customers being, quite rightly, extremely cautious with their trading after the tumultuous events at the back end of last year when the markets were in freefall.

‘But with the FTSE having added 50% from its March lows before last week’s pullback, we’ve seen more and more people gaining confidence in the market conditions, culminating in last month’s record high levels of bet numbers.’

‘While some spread betting firms have been raising their margin rates recently, we’ve actually reduced our spreads, margins and minimum trade level requirements and that has also helped us gain custom from our competitors.’

Mr MacKenzie added: ‘For our ShortsandLongs platform it was the busiest month we’ve had since the site launched in October 2008, while our sports division saw its highest number of bets taken since the football European Championships in June 2008.’

‘We have a client base that, while predominantly based in the south-east, covers the length and breadth of the UK so it’s encouraging to see people picking up their trading at rates last seen well before the downturn.’

Tags: shorts and longs, ShortsandLongs, spreadex

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