http://www.prospreads.com

[daermo]

Good Morning All,
Does anyone have any experience with, or knowledge of, the above broker?
I am trying to find a good broker to trade the news having just had a couple of bad experiences with my current account.
I prefer to spreadbet as winnings are tax free in the UK.
It seems to be very professional but is regulated in Gibralter. The following is from their Q & A page.

"Q: Is ProSpreads regulated by a Regulatory Body?
A. Yes, ProSpreads Ltd is regulated by the Financial Services Commission, Suite 943, Europort, Gibraltar."

While not wanting to be unfair, I am hoping that they are a good company and have a real time news feed, I am slightly concerned as I lost money in the Refco fiasco, again regulated in Gibralter.
It is the Gibralter connection, which I realise is probably foolishness on my part, that concerns me.
Any info or experiences would be gratefully received.
All the best to everyone,
David

 

[Shawna Kent]

Prospreads

Hi, Daermo. I was just looking into prospreads. I like that they take credit cards. Looking at their website, doesn't it also say they're licenced in the UK? Anyway, I'm Canadian. Since gambling is legal & tax exempt in CAN, and they are licenced as a gaming co., the winnings might be tax-exempt for me. I'm going to write them to see if they'll take CAN customers. I'm a little concerned about not being able to find reviews about them tho, so can u tell me, did u end up using them? what was the outcome? Thanks if u or anyone has insight about them. It's interesting that while they are a spread-betting co., they claim to operate like an ECN. I just found a site http://www.financial-spread-betting.com/where-can-I-spread-bet.html#Section6

that says: ProSpreads is owned by London Capital Group, who are a listed company on the London Stock Exchange, who also own Capital Spreads and Capital Forex. They are based in Gibraltar and regulated by the Financial Services Commission.

ProSpreads (formerly known as Futures Betting) provides experienced traders and scalpers with a professional trading platform that offers fast and reliable financial spread betting execution on major indices, currencies and commodities. The platform is aimed at individual professional traders as it offers unique DMA (Direct Market Access) functionality which is unavailable on other spread betting platforms.​

All the best to you!
Shawna

 

[Sammy_k]

Yeah, Prospreads is a great platform. I was introduced to the software by the mentors within NI Trading Academy. Great solid platform and It has been working out for me well since i made the move from ninjatrader.

I'm now using the SpreadsNI platform mind-you. Great company and staff are always very helpful when dealing with.