Hi,
I'm quite new to this business and currently using a spread betting company in London to trade through. It's a fairly simple way to trade e.g. I enter at £1 per pip and if I win 20 pips then I win £20 regardless of the currency pair. The one disadvantage I notice is that their charts are not the greatest so I use an MT4 demo platform which means the price does not always perfectly conform with the trading platform I am using. Having said that I have never traded through a broker so don't really know what I am missing. I know I can get leverage through a broker but I see this as a dubious advantage because although I can gain more it also increases my exposure. I have to admit I do not understand units/lots at all but from the very fact that lots are made up of units I assume that you can trade in part lots.
I wonder if there is someone out there who has used both methods and who can offer some advice.
I'm quite new to this business and currently using a spread betting company in London to trade through. It's a fairly simple way to trade e.g. I enter at £1 per pip and if I win 20 pips then I win £20 regardless of the currency pair. The one disadvantage I notice is that their charts are not the greatest so I use an MT4 demo platform which means the price does not always perfectly conform with the trading platform I am using. Having said that I have never traded through a broker so don't really know what I am missing. I know I can get leverage through a broker but I see this as a dubious advantage because although I can gain more it also increases my exposure. I have to admit I do not understand units/lots at all but from the very fact that lots are made up of units I assume that you can trade in part lots.
I wonder if there is someone out there who has used both methods and who can offer some advice.