Regular readers will know that I have spread betting accounts with most providers. This is not only for journalistic reasons (so I can write about them) but also because their slightly different offerings means that they can be useful in different scenarios.
Let me tell you what I think about spread betting company InterTrader. These are not the usual plus points of tight spreads and fast execution that we would expect from all spread betting companies, but the factors that I personally think make InterTrader stand out from the pack.
A Special Offer of Free Money!
Where else can you deposit £10,000 and see your funds increased almost immediately by 10% to £11,000 before you’ve even started “investing” the funds? Or for smaller traders, see your £1000 deposit increased by 10% to £1100. That’s what InterTrader are offering (subject to a few terms and conditions, as you would expect) if you sign up before 31 December 2013. Sign up and claim your bonus.
Retrospective Guaranteed Stop Orders
I’m a big fan of guaranteed stop orders that limit risk to an absolute level when prices “gap down” in volatile markets, but many spread betting companies make you decide whether you want your stop order to be guaranteed at the time you open your trade. With InterTrader you don’t need to pay for the insurance of guaranteeing your stop order until you really need to.
We all know that prices tend to “gap down” overnight rather than during the trading day. With InterTrader, if you open a trade at 9am, you have until 4.30pm to decide whether you want your stop order to be guaranteed (in case the worst should happen overnight) or whether you prefer to close your position without incurring the cost of the guarantee. This is particularly useful when using my trading-cum-investment Position Trading approach.
Nice Platform with a Wide Range of Markets
A few spread betting companies make their platforms so complicated that you spend more time adjusting windows and widgets than you spend planning and executing your trades. Not so with InterTrader, who utilise the very intuitive London Capital Group trading platform.
Some spread betting (and other trading) companies restrict you to trading stock indices and major “blue chip” shares, whereas InterTrader has one of the widest range of individual equities available for trading.
Wise Words from InterTrader
As a contribution to my Better Spread Betting book, Steve Ruffley, an Education Consultant at InterTrader said this about spread betting:
“The words spread betting implies that there is a gamble and element of luck in trading, but in my experience trading the markets profitably cannot be further away from the action of gambling. Investing in your education so as to understand how fundamental news moves the markets and how technical patterns and levels lead to self-fulfilling market movements will not only give you the tools and knowledge to trade but also the confidence to be profitable. Trading with confidence and with pre-defined goals and stops is how to profit from trading; if you fail to plan in trading, you are inevitably planning to fail.”
So now you know what I like about InterTrader a good sign-up bonus, the benefit of retrospective guaranteed stop orders, a nice intuitive platform with a wide range of markets, and a pro-active approach to spread betting education. Find out what you think (and don’t forget to claim your bonus).
Disclaimer: this posting is for general education only; it is not trading advice.