Today I placed a new trade on 888 Holdings. I brought £1 per point at 44.04 with a stop set at 36. price has just crossed the super trend indicator and with a possible double bottom having just occurred I thought this looks like a good trade. It may turn out to be bad but who knows?
I also noticed today that world spreads offer and account with 0 spread on some instruments. On further investigation I read that it is for platinum account holders who must have more than £5000 in there account with them. Sounds like a good deal if you have that sort of money to be risking but at the moment, while I’m still finding my feet, I can’t afford to risk £5000. Plus its only on FOREX and indices which I am still trying to avoid. In my experience FOREX and indices are the easiest way for the in experienced trader to lose money fast.
I need to apologise to “R” who sent me an e-mail at the beginning of the week. I still haven’t had chance to deal with your request. I will hopefully get time at the weekend to get this sorted for you. Keep checking the site form more updates.
That’s all from me for now
Until next time
“May the markets be with you”
Spread Betting Beginner
I wouldn't see the £5000 deposit as an issue (assuming you have the money) because merely depositing that amount doesn't mean that you have to 'risk' that amount.
More telling is the fact that all the spread betting account offers specifically exclude individual equities and steer you towards forex / indices.
http://www.lotontech.com/tradingtrail
It's a fair point made by Tony Loton here, and there is no reason not to open and account with £5000 and only risk a fraction of it.
Based on my experience I would not recommend a beginner to do this. If you have an account with more money in than you intend to risk there will be temptation, if you lose your initial risk, to try and recoup losses by using more of your funds. If you do this will more likely end up losing more money until you realise enough is enough or you lose the lot.
With regards to the offers excluding individual equities and only being on FOREX and indices this again is something that screams beginners beware. Again in my experience betting on indices and FOREX is the quickest way for a beginner to lose money. If, as a beginner, you want to try out FOREX and index trading I would recommend try it small like Finspreads £0.1 per point spreads for the first 8 weeks, or better yet try it in a demo account.