Finspreads

History

Finspreads has a long history and has changed hands three times till now. First it was created by Sporting Index in 1999, who later sold it to the IFX Group. City Index then purchased IFX Markets in 2006 which brought Finspreads under their control.

City Index Holdings Limited now owns both Finspreads as well as City Index.  Finspreads now runs the same systems and processes as City Index, with whom they share all resources including office space.

Features of Trading Platform

Finspreads shares the same trading platform with City Index. It’s a web based application that runs on flash. The screen consists of four sections showing the markets and individual items, the total account summary, the trading box and the news and messages area.

It’s very easy to drill down to the type of market you want to look at and there are sections for each country as well as alphabet categorization.  Opening and closing a spread bet is easy and just takes a few clicks with the intuitive interface. Entering a stop loss order is simple ,as is entering a limit order to lock in your profits.

Finspreads also allows users to trade using an iPhone app. For other phones, Finspreads allows you to download and install software that makes it easy to trade no matter where you are and irrespective of which device is being used.

Products Offered

Users can spread bet on Equities, Indices, Currencies, Commodities and Interest rates. They have a wide range of countries for investing and 30 indices to chose from.

Pros

Just like City Index, Finspreads guarantees a price point up to a certain size called “Our Size.” In addition, the trading academy course is extremely comprehensive with in depth detail of how to trade as well as various tactics that can help the trader to maximize his or her profits.

One of the great things about Finspreads is their extremely low betting stakes. When enrolled in the training academy, beginners can go as low as 10p per point! Nowhere else is this low bet size allowed. Even after the course is over, certain markets allow you to bet at 50p per point.

The ability to bet just 10p per point is extended only for 8 weeks after users make their first £100 deposit. After that, the minimum increases to 50p.

Overall Summary

Finspreads is great for beginners because of the low bid limits. However, they don’t offer functionality such as CFD trading unlike their sister company City Index.

Support Opening Hours

Their client support center is open from 8:00 am to 8:00 pm GMT Mon – Fri. Their dealing desk however is open 24 hrs from Sun 9:30 pm to Friday 9:15 pm

Countries/Languages

Finspreads communicates only in English, but provides services all over the world except for the USA.