ProSpreads

ProSpreads is aimed at the more advanced trader,offering the same functionality that is available from a Direct Market Access (DMA) Broker, allowing traders to access the underlying market directly. This level of functionality and instant execution means you will not be re-quoted and the price cannot move to extremes away from the underlying price.

ProSpreads do not offer 24 hour trading or guaranteed stop orders but they do provide a live chat service and that all important DMA. There is, currently, no mobile trading platform available but they do provide a wide range of education and training materials. Spread betting on equities is limited in scope, but they do have streaming news and excellent charting tools to aid decision making.

ProSpreads are able to offer tight prices because their platform directly references the underlying market prices where hundreds of market participants compete to trade. As a result of this increased liquidity the spreads are forced to narrow. Upon reaching a specified monthly trading volume of 200 lots, traders can access the FTSE 100 with a spread of 0.25.

ProSpreads have an excellent range of commodities on which to trade, including Live Cattle, White Sugar and Soybean Meal Futures, which come in addition to Brent Crude, Corn, Gold, Platinum and others. Initially ProSpreads offered equities trading on the FTSE 100 and Eurostoxx 50 but they have now added FTSE 250 to their equities offering with US stocks to be added imminently.

• Indices
  
• Shares
  
• 30+ FX Pairs
  
• Commodities, Metals
  
• Bonds/STIRS
  

The platform is available via web format only and has superb functionality. As previously mentioned the lightning quick executions mean that you will never be re-quoted. This speed of execution could be the difference between profit and loss, expecially during volatile market conditions. The platform is als completely customisable, giving users the opportunity to change colour schemes, the trading layout, the information that you want displayed and how you wish your spread bet to be executed.

The platform actually offers the trader 4 different ways to place a spread bet:

• Order Ticket - traditional method
• Single Click - executed market or limit order with a user defined default quantity
• Level 2 - shows underlying depth of the market
• Ladder - user can place omst common order types on a dynamic depth of market screen

The video tutorial is a good walkthrough of how the platform operates. There is no 24 hour trading or guaranteed stop order availabilty but ProSpreads do provide traders with trailing stops which are an excellent method of risk management without locking profits in too early.

The Demo Account provided by ProSpreads is virtually identical to the live platform but for some of the products not being available. You are provided with a virtual cash balance of £10,000 and the account is limited to 1 week of use. If you do require longer you can contact their support team.

They also offer a 1-on-1 demonstration that you can register for, arranged at a time to suit you and that covers any or all aspects of the platform that you need it to. On top of this you also have access to Webinars, Seminars, excellent and in depth Video Tutorials and more.

As mentioned a week-long demo account is available, providing you with £10,000 virtual cash and access to their professional trading platform. To open a live account, the minimum opening deposit is £1,000, or the currency equivalent. Also, to fund your account you need to be enrolled in the 3D secure scheme relating to your credit/debit card.

Note that you can trade outside of these hours by prior arrangement only.