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Finspreads Forex broker specializes in providing foreign exchange trading services, the company's official website https://application...., the company's legitimate regulatory information United KingdomFCAInvestment Advisory License to enhance the security of the company's address

Finspreads Forex Broker

Basic Information

Registered Region

United Kingdom

Operating Period

Company Name

GAIN Capital UK Ltd.

Abbreviation

Finspreads

Company employee

Contact Number

020 3194 1802

Company Website

http://www.finspreads.com/

Facebook

https://www.facebook.com/CityIndexUK

https://twitter.com/cityindex

https://www.linkedin.com/company/city-index

Keywords

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

Suspicious Overrun

High potential risk

Company profile

BASIC INFORMATION: Finspreads is a UK spread betting broker offering a variety of assets, including currency pairs and commodities. Finspreads was founded in 1999 and was the first provider of spread betting via a browser-based platform. In 2006, Finspreads was acquired by City Index Ltd and in 2015, City Index was acquired by GAIN Capital Holdings, Inc, one of the global leaders in online trading. Theres also a range of markets to trade, including currencies, commodities, indices and shares. MARKETS Theres a good choice of markets available at Finspreads, including major, minor and exotic forex pairs, large indices, commodities and precious metals, plus UK, EU, US and Asian shares. The broker also offers Day Trades, a selection of 15 popular stocks, such as BP and Tesco, which traders can spread bet with no overnight risk. SPREADS & COMMISSIONS Finspreads offers competitive variable spreads starting from 0.5 pips for EUR/USD and USD/JPY and 0.8 pips for GBP/USD. Spreads start from 0.4 points for the S&P 500 and 4 points for US crude oil. Other fees may include a monthly inactivity fee of £25, which is charged on accounts left dormant for a period of 12 months or more. There may also be daily holding costs charged each night a position is held. LEVERAGE Finspreads offers low margins from 1% in order to open a position. The broker also uses a Step Margin feature, where the amount of initial margin per trade may increase depending on the trade size. This has allowed the broker to reduce margin rates by an average of 48% over the last few years. ACCOUNT TYPES Traders get a choice of 3 account types at Finspreads, for those who are new to spread betting, those who want to limit their risk, and those who are experienced in spread betting. The Beginners Account allows a minimum stake size from 10p and provides access to indices, commodities and currencies. Note that you can lose more than your initial deposit with this account. The minimum deposit is £50. The Limited Risk Account offers minimum stake sizes from 50p and offers all available assets, including Day Trades and shares. GSLO is also enforced on all trades and traders cannot lose more than their initial deposit. The minimum initial deposit is £100. The Standard Account, for experienced spread bettors, also offers a minimum stake size of 50p and all available assets. Traders can lose more than their initial deposit. The minimum deposit is £100 PAYMENT METHODS Deposits You can fund your account using debit/credit cards including Visa, Mastercard and Maestro, as well as direct bank transfer. There are no charges for depositing via debit card, however there is a 1.5% processing fee for credit cards. Your bank may also charge their own fees for transfers. Withdrawals Withdrawals should be returned via the original funding source wherever possible. In some cases where credit cards are not accepted (i.e., if they are issued in a restricted country) the broker will arrange for funds to be returned to your bank account. The minimum withdrawal amount is £50 (or currency equivalent); the maximum is £20,000 (or currency equivalent). TRADING PLATFORMS Web Trading Platform ACCEPTED COUNTRIES Finspreads accepts traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries. TRADING HOURS You can trade with Finspreads 24 hours a day, but dealing times for individual markets will vary. CUSTOMER SUPPORT Help is available Monday to Friday, from 9am to 6pm, UK time, via: · Email – enquiries@finspreads.com · Live chat – Located at the top of the website page · Telephone – 020 3194 1802 (local) or +44 (0) 8000 96 96 20 (international) · Postal address – Park House, 16 Finsbury Circus, London EC2M 7EB, United Kingdom

Finspreads broker review

Is Finspreads safe or scam

Rating Index

Pros

Established broker with strong regulatory oversight from the FCA.

Low minimum deposit requirement of £50 and small stake sizes starting from 10p, making it accessible for beginners.

Offers a wide range of markets for spread betting, including forex, shares, and commodities.

Cons

No demo account available for practice, which can be a disadvantage for new traders.

Limited payment methods, as it does not support e-wallets or online payment options.

Only one trading platform option, which may not cater to all traders' preferences.

How to login to Finspreads?

Finspreads Complete Account Guide: Registration, Account Opening, and Login Processes Finspreads is a leading UK-based spread betting provider that offers a straightforward and user-friendly platform for trading on various financial markets. This guide will provide a comprehensive overview of the pr

Finspreads Forex Broker - Complete Information Guide

1. Broker Overview

Finspreads, founded in 1999, is a prominent online financial spread betting firm based in London, United Kingdom. The company is a trading name of City Index Group, which acquired Finspreads in 2005. As a publicly traded entity, Finspreads operates under the umbrella of Gain Capital Holdings Inc., a well-established financial services provider. The firm primarily serves retail clients interested in financial spread betting, offering access to various financial markets through innovative online and mobile trading platforms.

Since its inception, Finspreads has pioneered interactive online spread betting, establishing itself as a leading provider in the UK market. The company's growth trajectory includes significant milestones, such as the integration into the City Index Group, which has enhanced its service offerings and operational capabilities. Finspreads operates on a business model that allows clients to speculate on price movements across multiple asset classes, including shares, indices, and commodities, without incurring conventional trading fees.

As a finspreads broker, the company focuses on providing a seamless trading experience, catering to both novice and experienced traders. Its commitment to education is evident through various training programs and resources aimed at enhancing traders' skills and knowledge in spread betting.

2. Regulatory and Compliance Information

Finspreads operates under the regulation of the Financial Conduct Authority (FCA), one of the strictest regulatory bodies in the UK. The FCA registration number for Finspreads is 113942. This regulatory oversight ensures that Finspreads adheres to high standards of conduct, providing clients with a safe trading environment.

The firm's regulatory license encompasses various activities, primarily focused on spread betting and CFD trading. Finspreads is committed to maintaining compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, ensuring that all client identities are verified, and funds are sourced legitimately.

Client funds are held in segregated accounts with top-tier banks, providing an additional layer of security for traders. Furthermore, Finspreads participates in the Financial Services Compensation Scheme (FSCS), which protects eligible clients up to £85,000 in case of broker insolvency. This comprehensive regulatory framework positions Finspreads as a reliable choice for traders looking for a secure trading environment.

3. Trading Products and Services

Finspreads offers a diverse range of trading products, catering to various trading preferences and strategies. The broker provides access to over 12,000 markets, including:

Forex: Finspreads offers a wide selection of currency pairs, including major pairs like EUR/USD, GBP/USD, and USD/JPY, with capped variable spreads on 37 forex pairs.
CFDs: Clients can trade Contracts for Difference (CFDs) across indices, commodities, and shares, allowing for speculation on price movements without owning the underlying assets.
Commodities: Traders can engage in spread betting on various commodities, providing opportunities to profit from price fluctuations in markets like oil, gold, and agricultural products.
Indices: Finspreads allows trading on major global indices, providing exposure to broader market movements.

The firm continually updates its product offerings to meet market demands. However, it does not currently offer Islamic accounts or demo accounts, which may limit options for certain traders.

4. Trading Platforms and Technology

Finspreads employs a proprietary trading platform known as Advantage Web, which is designed for ease of use and functionality. This platform supports various features, including:

One-Click Dealing: Allows traders to execute trades rapidly, minimizing the risk of missing trading opportunities.
Advanced Charting Tools: Traders can analyze market trends and price movements using sophisticated charting features integrated into the platform.
Mobile Trading: The Finspreads mobile application is available for both iOS and Android, enabling traders to manage their accounts and execute trades on the go.

The broker does not support MetaTrader 4 or MetaTrader 5, which may be a drawback for traders accustomed to these popular platforms. However, the proprietary platform is designed to facilitate a seamless trading experience, with features that cater to both novice and experienced traders.

Finspreads operates on a Market Making execution model, where the broker acts as the counterparty to client trades. This model allows for quick execution times, although it may present potential conflicts of interest.

5. Account Types and Trading Conditions

Finspreads offers three main account types tailored to different trading needs:

Beginners Account:

Minimum Deposit: £50
Stake Size: Starts at 10p
Access to major financial instruments and reduced risk through guaranteed stop loss orders.

Standard Account:

Minimum Deposit: £100
Stake Size: 50p
Access to a broader range of markets and advanced trading features.

Limited Risk Account:

Similar features to the Standard Account, but with added protection against losses exceeding the account balance. All trades automatically have a guaranteed stop loss attached.

Finspreads does not offer a demo account, which may limit practice opportunities for new traders. The maximum leverage available is 1:30, and overnight fees may apply depending on the positions held.

6. Funds Management

Finspreads supports various deposit methods, including:

Bank Transfers
Credit Cards
Debit Cards

The minimum deposit requirement for opening an account is £50 for the Beginners Account and £100 for the Standard and Limited Risk Accounts. Deposits via debit card are typically processed instantly, while bank transfers may take longer.

Withdrawal methods mirror the deposit options, and while specific withdrawal fees are not clearly stated, clients should be aware that fees may apply depending on the provider used. Withdrawal processing times vary based on the method, with some clients experiencing delays.

7. Customer Support and Educational Resources

Finspreads provides robust customer support channels, including:

Phone Support
Email Support
Live Chat

The customer service team is available 24/5, ensuring assistance is readily accessible during trading hours. The platform supports English, catering to its primary customer base.

To enhance traders' skills, Finspreads offers a Trading Academy, which includes an eight-week training program covering various aspects of spread betting. Additionally, clients can attend free in-house seminars focused on trading strategies and risk management.

Market analysis services are available, including daily reports and technical analysis, which can help traders make informed decisions. The platform also provides essential trading tools, such as economic calendars and news feeds, to keep clients updated on market developments.

8. Regional Coverage and Restrictions

Finspreads primarily serves clients in the United Kingdom, leveraging its regulatory framework to offer spread betting services. The broker does not accept clients from the United States, which may limit its reach among international traders.

While the firm has a strong presence in the UK market, its services may not be available in regions with restrictive trading regulations. This limitation may affect potential clients seeking to engage in spread betting outside the UK.

In summary, Finspreads is a well-regulated broker that provides a range of trading products and educational resources, making it a suitable choice for traders looking to engage in spread betting in a secure environment. As a finspreads broker, it emphasizes educational initiatives and robust customer support, catering to both novice and experienced traders.

Finspreads Forex Broker has an overall rating of 1.52, Regulatory Index 0.00, License Index 0.00, Business Index 7.06, Software Index 4.00 Risk Control Index 0.00.

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