Todays topic is all about getting your money back from a spread betting company. As it stands I have not had to do this as I’ve never withdrawn any funds but my father has tried to do it recently and he’s having a bit of a headache with it. His point of view is that the spread betting companies are quick enough to take your money from you but really seem to drag their feet when it comes to asking for it back.
I am appealing to anyone that has an experience with withdrawing funds from a spread betting company to get in touch. I have started a new topic over on the forum and I would love to hear your experience good or bad. Even if you are attempting to get your money back from a company please do post a reply as you never know I might be able to help you out. There is nothing worse than getting a bad review on the most popular spread betting blog available. (I’m talking about spread betting beginner of course.)
So I’ll ask again if you have any experience good or bad, or if you are in the process of withdrawing funds get in touch. I’m sure that it’s the few firms that are dragging there feet with paying back money that are giving the rest of them a bad name and I would like to name an shame those firms to help people avoid being messed about.
Moving on to some of my spread betting action. With the FTSE 100 taking a tumble today (over 100 points) It took with it one of my positions. RBS stopped out banking me a £4 profit, Who hoo! Who says you can’t get rich from spread betting. Last week my Lloyds position also stopped out on another day when the FTSE 100 took a tumble. This time my profit was £9.9. Almost a whole ten pounds, I’m hitting the big time now. This leaves me with just two open positions, one in Regus and another in Enterprise inns. I still like the look of the Enterprise inns chart, even with all this market turmoil recently the stock price is holding strong. Hopefully this is more justification for my pyramid.
With the markets dropping sharply there could be some bargains to be had but I will be treading cautiously as my FTSE 100 analysis this week points to weak technical data in the chart which is either a temporary dip or the start of something bigger. Which it is though is yet to be seen.
Until next time,
“May the markets be with you!”
The Spread Betting Beginner