Jump straight to the book, or…
Historically I was never a big fan of the Spread Co spread betting platform. As far as I can recall, this was because of difficulties in attaching stop orders — and in particular, guaranteed stop orders — to specific trades, which is an essential aspect of my position trading strategy.
With Spread Co having launched a brand new online trading platform, I’ve taken another look, and I’m pleased to report that adding a closing stop order (optionally a guaranteed one) at the time of placing an opening trade is now a cinch. If, like me, you’ve not looked at Spread Co for a while, you might want to take a look now.
You might also be interested to know that…
Whereas on platforms like Capital Spreads and InterTrader you are charged a one-off fee for applying a guaranteed stop order, and whereas on IG Index you are charged an additional amount of “spread” for the privilege, on Spread Co it appears that you pay for the privilege of a GSO via an addition to the overnight financing charge. This could be great for day traders, but not so great for position traders.
Disclaimer: this posting is for general education only; it is not trading advice.