WorldSpreads Spread Betting Provider Review
WorldSpreads was originally an Irish company and has been in business since year 2000. Today, the company is operates out of London and although still small when compared to industry incumbents such as CMC Markets and IG Index it is leading the way by cutting spreads which is creating something of a war between companies as other spread betting providers react by making their spreads more competitive.
WorldSpreads has always been known as the home of the 1 point spreads. It was the first company to pave the way for other spread betting providers to cut their spreads by offering 1-point spreads on the FTSE. Today, WorldSpreads has further upped the game another notch by offering 0 spreads on a number of main markets. The company also provides a white-label to some big bookmakers including Victor Chandler, 188Bet and the most recent Ladbrokes.
Positives
I have found Worldspreads to be very open and honest when i had a query with them. 10 times more open, honest and reasonable than CMC. As a WorldSpreads representative once told me on the phone, it is good for the clients to establish a good client - broker relationship, and this is applicable with any broker. If you have a query with them, phone them up, speak to them nicely, and there is a better chance they will show you the same respect.
Negatives
On the downside WorldSpreads is sometimes criticised for clients not getting instant fills and re-quotes. This seems to have been more of a problem in the past, as in the last year I've been trading with them I got the feeling that they are not playing games However, if you are put on referral to a dealer you are in their hands and they can trade against you. Also, it is almost impossible to get the referral to a dealer removed, even years later. In any case this seems to a problem common to all spread betting providers as none of them seem to tolerate scalpers.
It is worth mentioning that the WorldSpreads trading platform has recently undergone an upgrade which has introduced several new advanced features, one of which is a trailing stop loss. Unlike a normal stop, these track the market higher but remain static when it falls back. This allows clients to potentially run their positions for longer by locking in the profits. The company has also launched a new advanced technical
Questions and Answers
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