Finspreads are good both on the phone and via their excellent
trading platform and I can certainly recommend them to you.
If you need a contact at Finspreads please use Angus Campbell
by email acampbell@finspreads.com) or by phone (call the
trading desk 08000 969625 then ask to speak to him. He is very
helpful and by all means mention my name if you wish.
The great thing about Finspreads is that you can place an
order to open on-line and at the same time you can place your
stop order which will become active if the trade opens. You
MUST remember to cancel the order if the trade does not trigger.
The second thing that is REALLY useful is that you can place
orders 24 hours a day so no matter which country and time zone
you are in, or whether you work during trading hours etc, you
can please yourself when you do your chart work and still get
on line to place your orders.
The final tip I have for you is an important one but please
do not say the I told you to do this. It is perfectly
reasonable but I don't want to become a thorn in Finspreads
side! So here it is: Occasionally you may feel you have been
stopped out and it is a real close call or it is within the
first 20 minutes or so of the trading day or you just don't
understand how you could have been stopped. If this happens
take a look at your chart and allowing for the difference in
spread price versus chart price, see if the chart suggests
that the stock did indeed trade at your stop level. If you
feel it didn't - PHONE THEM!
Tell them the level you were stopped at and the fact that
according to your charts the stock did not trade at that level.
They will check it out properly according to their very
accurate records and let you know if you were stopped correctly.
If you were not they will reinstate the trade for you (or a
similar arrangement).
This tends to happen with "Quote stops" and not "Market stops"
and the reason this can happen is that your stop can be
triggered simply by an abnormally wide spread which happens
from time to time and particularly when the market opens and
before the first real trades go through. Usually the Finspreads
traders re-set those triggered stops which are not "genuine" but occasionally forget. That is why it is worth questioning
it when you feel it has happened to you.
If you haven't already read it I urge you to read my book "All you need to know about Financial Spread Betting". It is
not expensive and could save you a great deal of money by
preventing mistakes. To take a look please go to: www.shortswingtrading.com/fsb
I am afraid I simply do not have time to support traders with
questions about spread betting and how different trading
platforms work but the book together with the tips on the
spread betting page of the Members website should give you
the vast majority of what you need to know. Any other
questions you have please give the Finspreads traders a call.
They are very helpful particularly if you catch them at a quiet
time. They often appreciate it if you ask them if they are
busy and is there a better time to call them if you need to
discuss something that could take a while.
Finally, if you do open an account with Finspreads, as part
of the account application you will be presented with a
dropdown list for the "Where didyou hear about us?"question.
Please answer: "Tradelogik"
Tradelogic promote spread betting in the UK and Europe and
I work with them on certain projects. If you select
Tradelogic in your application I will receive a very small
commission - but every little helps. Thank you.
Good luck with your trading, I wish you huge success!

David Graeme-Smith

RISK WARNING
Spread Betting can offer many benefits, but it also carries a high level of risk. You can lose more than your initial deposit and should only risk capital that you can afford to lose and ensure that spread betting meets your investment objectives, seeking independent professional advice if necessary.
Spread Betting is an execution only service and no investment advice is given. |
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