Selftrade

History
Selftrade is the trading name of Talos Securities Ltd. in the UK. They are an “execution only” stockbroker which means the investor takes all the responsibility and receives no advice. Selftrade is different from the other spread betting companies reviewed till now since they offer many different services and spread betting along with CFDs is just one them.

One can open many different types of accounts with Selftrade and you need to open a “personal account” in order to proceed with spread betting activity.

Features of Trading Platform

The Selftrade platform is Internet based and comes with three tabs – CFDs, Spread Betting and “Watchlist.” Many investors might find it extremely convenient to have both CFD and Spread betting on the same platform.

The summary section in the platform allows users to see open positions, active orders and order history along with the cash balance and unrealized P&L. Also, a separate section on the right allows users to get regular updates from the Dow Jones.

Products Covered

The range of products that Selftrade allows spread bettors to invest in is fairly large and includes equities from the US, UK and other European shares. One can also bet on individual indices, sectors, currencies and precious metals.

Pros

Selftrade’s deposit margins can go down to as low as 2%. In addition, uses can avail themselves of a guaranteed stop loss if they pay a premium.

Awards/Accolades

None

Overall Summary

Selftrade isn’t a firm which has anything exceptional about it. It has the potential to be much better especially since they have great educational material, but unless it’s made more user friendly, there won’t be many takers. And they haven’t really taken the effort to differentiate themselves from other spread betting firms.

Of course, spread betting is just one of their offerings and seems to be something that their clients can engage with on the sidelines, but it’s not for those dedicating their time to spread betting alone.

Support Hours

Their support desk is open from Monday to Thursday 6:45 am to 9:45 pm and 6:45 am to 9:15 pm on Fridays. Their trading desk however, is open from Sunday 9:30 pm to Friday 9:15 pm.

Languages/Countries

The company’s target is UK individuals and business using English.