Best Trading Broker?

With the popularity of financial spread betting, there have been a wealth of companies springing up to offer the service, and claiming to be “better” than the ones before. But finding the best spread betting companies can be a challenge, particularly as you have to decide what that means for you.

There are some things that everyone can agree on. Having a reliable service that will not fail is one, but most established companies can claim that, and you are probably much more likely to have a problem with your computer or Internet connection. And an easy-to-use software interface, though that is a subjective topic, and only you know what works best in your betting. Everyone would probably agree that you need to be able to reach a human voice if you are having difficulties, so customer service that is responsive must be on the list.

After you get beyond those basics, it comes down to personal preferences much of the time, with items that work for one person being an annoyance to another. There is no universal answer to the best spread betting companies, so you will need to do your own research.

As a starting point, you need to shortlist a few companies on significant matters, such as the size of the spread, particularly in the markets you think you will be betting, though you should stay open to developing an interest in other financial markets. Obviously the spread should be small to maximise your profits, and as you pay the spread on every bet, this can make a difference.

Generally I feel that the guaranteed stop loss finishes up costing you more than a well regulated trading plan because of the increased spreads charged, but if it is a part of your trading system, or you want to start out using guaranteed stops until you feel more confident, you must check out the cost of this with each provider. Some even include it in a beginners account, though you should take note of any hidden charges.

You can often set up demo accounts at spread betting companies so that you can test their layout and software interface without any funding commitment. Once you have shortened your list, it is time for you to go live, as there is no substitute for finding out how well you will get on with the providers you have selected to test as the best spread betting companies.

For this stage, you need to open three or perhaps four accounts with different spread betting companies that appear to be the best. Take time to learn their systems, and use each for a few days at a time so that you do not get commands confused. Give the companies a call, and see how well your call is handled. Can you get through to a human quickly, if you want to change your bet in a power failure?

If you keep careful notes of your betting experiences with each of the providers, you should be able to decide which features you like and which you can live without. In the end, I would advise keeping two accounts open with the best spread betting companies for you.

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