Our trust rating takes into account a range of factors that influence a brokers reliability and reputation, These factors include how the broker is regulated, whether they use segregated bank accounts, their years in business, banking tiers, customer support offered, and much more.
Finspreads is a reliable British, London based spread betting broker. Markets and financial instruments offered for spread betting include Forex, Indices, Shares, Commodities, Metals.
The spreads are generally tight, though not the tightest in the industry. On stocks, the spread for Facebook shares is 8 points and 6.8 points for Google. For forex spreads are 0.8 pips for GBPUSD and 1 pip for EURUSD.
Deposits and withdrawals can only be processed via debit/credit cards or direct bank transfer, and fees apply for all options. There is no minimum deposit amount. For desktops, their Advantage web based platform provides easy access to the market. For android phones, tablets, iPhones and iPads there are specific easy to use apps available for free.
Forex, Indices, Shares, Commodities, Metals
US, Japan, Australia and any other country where spread betting is ilegal
Advantage Web, iPhone App, iPad App, Android Mobile App, Android Tablet App,
Apple - Yes, Android - Yes
If you are going to use hedging as part of your strategy then this broker may suit your needs hedging is fully allowed. Also, Finspreads doesn’t charge any commissions for trading activities and provides to clients one click trading, trailing stops and guaranteed stop loss orders. However, it should be noted that guaranteed stop loss orders don’t apply to all markets. If you are looking for fixed spreads then Finspreads is possibly the right broker for you. Their spreads are fixed during fixed spreads hours and outside of these hours spreads are normally variable.
If you are not much of an active trader then Finspreads will probably not suit you as a £25 monthly inactivity fee is charged if you are inactive during the period of 1 month. Deposit and withdrawal fees are charged as well.
Guaranteed limit orders are not provided, neither is the use of expert advisors. Also, this broker doesn’t offer any kind of bonuses to new clients. If you need price alerts, signal trading, automated trading or Virtual Private Servers (VPS) then you should probably look elsewhere as those are not provided. Furthermore, they don’t support Islamic accounts.