This is probably for UK traders. Can anyone reccomend a good spreadbetting firm in the UK.
Ive had bad experiences with mine. Probably my own fault for not reading small print but my trades are closed at 8pm automatically and then reopened and charged spread again at whatever price is at 8pm. So if im in a loss it closes it in a loss and reopens at current price minus spread!
Also I cant move stop loss closer than 20 points from current price. So in order to move stop loss to break even I have to make 26 pips first! Yes spread is 6 even though advertised as 3.
Suffice to say with these 2 tricks I wasn't aware of I have lost quite a bit of money, I thought spreadbetting would be like my normal trading account using lots being able to hold trades open indefinately.
So big questions, is there a speadbetting firm that doesnt close trades/bets over night and has a normal functioning stop loss? Are all spreadbetting firms set up this way?
Ive left company names out so as not accused of promoting etc
Thanks
Ive had bad experiences with mine. Probably my own fault for not reading small print but my trades are closed at 8pm automatically and then reopened and charged spread again at whatever price is at 8pm. So if im in a loss it closes it in a loss and reopens at current price minus spread!
Also I cant move stop loss closer than 20 points from current price. So in order to move stop loss to break even I have to make 26 pips first! Yes spread is 6 even though advertised as 3.
Suffice to say with these 2 tricks I wasn't aware of I have lost quite a bit of money, I thought spreadbetting would be like my normal trading account using lots being able to hold trades open indefinately.
So big questions, is there a speadbetting firm that doesnt close trades/bets over night and has a normal functioning stop loss? Are all spreadbetting firms set up this way?
Ive left company names out so as not accused of promoting etc
Thanks