Zero Point Spreads
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It has been twelve months since UK spread betting company WorldSpreads, reduced its spreads to zero for Platinum account holders, ie clients with a minimum of £5,000 in their accounts.
WorldSpreads now sees up to 12,500 spread-free trades per day. That's more than 600,000 zero spread bets in total, saving clients more than an average of £5 per trade.
One in three WorldSpreads account holders now trade with zero spreads and, with the recent market volatility, spread-free trading has increased even more. Perhaps unsurprisingly the FTSE 100, DAX 30 and euro/dollar markets have been the most actively traded.
WorldSpreads CEO Conor Foley commented, "Zero spreads have found the mood of the trader. WorldSpreads' Platinum account is the right product at the right time.
“By withdrawing the trade barrier [the spread] we knew that WorldSpreads clients would trade more frequently with volatile markets. However we did not know just how volatile those markets would become, and how attractive."
"Zero Spreads have enabled spread bettors to focus exclusively on unearthing opportunity among rising and falling markets without having to factor in a spread.
“It has also underlined the extraordinary value offered by spread betting versus the stockbroking industry which is notorious for high charges, opaque fees and commissions."
Alastair McCaig, WorldSpreads market analyst, adds; "The volatility index has more than doubled from 20 in September 2010 to over 40 in September 2011†. Spread bettors need to be fleet of foot and take advantage of zero spreads in these turbulent times."
With spread betting, the 'point' is the cost of the dealing spread, the difference between the price at which the broker buys and sells the asset. From an average of 8 points in the early years of financial spread betting, WorldSpreads was the first to reduce their spread to one 'point' and is still the only provider to offer zero spreads.
For a price comparison see, spread betting company comparison.
† Source: CBOE Volatility Index
WorldSpreads Account / Website
Risk Warning: Spread betting carries a high level of risk to your capital. You may lose more than your initial investment. It may not be suitable for all investors. Only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved and seek independent financial advice where necessary.
'Zero Point Spreads' by DB, updated 29-Sep-11
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