Comparing the Different Spread Betting Companies

Markets Covered

Good range of markets covered. More than 2,900 products available as CFDs, spread bets and spot forex, including currencies, indices, equities, commodities, interest rates and bonds.

Training Facilities

Simulator account available. Variety of free seminars and webinars, as well as software training and prompt customer support via phone or live chat.

Typical Spreads

* GFT UK like IG Index employ variable spreads which means that spreads may fluctuate during times of market volatility.

Dealing Commissions and Fees

Any fees for credit card deposits UNDER £5k are paid by GFT. Any deposits larger than this, you will pay. (= Just make multiple £5k deposits). There is an inactivity fee of USD50 (or currency equivalent), if you don't trade once in 60 days.

Financing Charges

Relevant 'Libor' +3%/- 3%. You pay for long, receive for short. On short positions you will RECEIVE a payment in theory, never be charged. Financing is charged/paid based on the whole position.

Accounts Available and Credit Facilities

Deposit Accounts. Credit may be offered on a case-by-case basis for up to 25% of proven liquid funds.

Minimum Stake and Deposit

The minimum stake is £1 per point. One can open an account with just £120 if one so wishes.

Rolling Policy

Profits and Losses are realized on Rolling spread betting positions each night. Profits and Losses are not realized on spread betting on futures contracts. (CFD accounts P&L also remains open).

Dividend Policy

For Equities trading GFT pays 90% of the dividend (to reflect the 10% withholding tax they pay on their underlying hedging position). Some indices are also subject to small adjustments (both positive and negative) due to dividends paid.

Futures

Futures are offered on indices, not on individual shares. Bets on Wall Street, NASDAQ 100, S&P 500, S&P/MIB, Nikkei 225 Index (Japan 225 Index), Russell 2000 Index (US Small Cap 2000 Index), CBOE Volatility Index (US Volatility Index) and S&P/ASX futures settle basis the "special opening quotation" published by the relevant exchange on the day of expiry. This settlement price is calculated using the opening prices of the shares that comprise the underlying index on the day of expiry. Also note that this settlement price can differ substantially to the level at which the index itself has traded or closed at the previous day.

The last day on which the Wall Street, NASDAQ 100, S&P 500 and S&P/MIB markets can be traded is the day before the day on which the settlement price is calculated.

Stop and Limit Orders Available

Market, limit, stop, order-cancels-order, parent-and-contingent, automated trailing stop are all offered. GFT also offers guaranteed stops for FX and indices for a small charge depending on the instrument.

Basis for Triggering of Stops

When a stop price is reached, it becomes a market order and is filled at the best available market price. Normal stops are (of course) subject to underlying market slippage. You are always trading off GFT's prices. So if you have a stop sell at 100 and our bid price reaches 100, you will be filled at that price. If GFT's bid price jumps from 101 to 99, you will get filled at 99. (if you're short, your stop price will be the offer/ask price as you are buying to close your position.)

Opening Hours

24-hour trading on certain indices.

Research and Charting

GFT’s DealBook 360 software offers good, highly customisable charting and analysis options. DealBook® is also available for the Web and mobile phones, including Blackberry and iPhone.

Support

Good support via phone or live chat (they do seem to prefer telephone contact).