Spreadbetting Platforms

Hi,

Thanks for the answers to my previous question, I understand what FOREX is a little better now.

If possible, I'd like to know what the Forex Factory views are with regards to using the UK spreadbetting platforms to trade FOREX. I find using the platforms quite straightforward for the stocks and indices, plus the main two I use have charting facilities. I've just compared the spreads from the main one I use to those of FX, and they are either the same or slightly less than the pips. But I'm guessing that there must be a reason why most people here use the brokers.

The main thing that concerns me with the spreadbetting companies is whether or not they use the true FOREX market data, or skew it in their favour somehow, so what I'm seeing on screen is their 'version' of the data.

I've just tried the FX Solutions demo (as suggested in a thread here) and feel I could get to grips with the trading side of things, but I found their charting package quite confusing.

Thanks.

I use MT4 charting package as do probably 60% of FX traders (maybe more), I trade through cmc (deal4free) in the UK and find the streamed prices almost identical, the good thing about using a spread betting company is that they are not taking the other side of the trade, they earn their money through the spread.

Obviously the other advantage is that it is currently tax free in the UK AS LONG AS it is not seen by the taxman as your primary source of income.

Please correct me if I am wrong but I think the reason traders in the US especially and other areas of the world use brokers is that spread betting does not exist in their countries.

I don't think their is such a thing as spread betting in the US for sports or financials.