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Three Choices of Account for New Spread Bettors at Finspreads
LONDON–(Marketwire – January 16, 2013) – Finspreads, the spread betting provider aimed predominantly at beginner traders, is well known within the industry for its three tiers of trading. The company has recently relaunched its website, and is hoping to cast its back to basics approach at a wider audience in 2013.
Since its launch, Finspreads has gained a considerable userbase of clients looking to learn more about trading as they go, as opposed to seasoned experts. In accordance with this mantra, the brand offers users a choice of three account types.
The choices of account presented to users are as follows :
The ‘Limited Risk’ account with Finspreads ensures that clients can never lose more than the funds they hold in their account. This is maintained through automatic implementation of GSLOs, or ‘Guaranteed Stop Loss Orders.’ Stop Loss Orders do just that — they stop the trade out once the market prices reaches a pre-determined level.
The potential to lose more than the amount in your account is a key risk with leveraged trading such as spread betting. As such, a ‘Limited Risk’ account might therefore be perfect for nervous first time traders who are looking to test their toes in the water before diving in.
The ‘Beginners’ account offers further peace of mind for newcomers looking to learn more about trading in a safer environment, and offers minimum stake sizes from just 10p per point. GSLOs are not automatically set up for Beginners, though can be added to trades at the click of a button.
When they’re ready, Beginners with Finspreads can increase their stake sizes or upgrade to the Standard account.
The Standard account offers a minimum stake size of 50p per point, and also opens up the number of markets clients have access to when trading. The increased minimum stake size means that technically it’s the account with the most risk potential, but clients have access to an expert support and management team at Finspreads if there’s anything they’re unsure of.
Spread betting carries a high level of risk to your capital with the possibility of losing more than your initial investment and may not be suitable for all investors. Ensure you fully understand the risks involved and seek independent advice if necessary.