Oanda
(3.4 stars)
FX retail market maker.
Beware Spreadbetting Companies...
5/29/2010
- Pros:
- Easy-to-use platform, Good customer support, Good transaction reporting, Web-based platform
- Cons:
- Spread widens frequently, Wide spreads, No custom indicators
- Bottom Line:
- No, I would not recommend this to a friend
- Quote:
- IG Markets provide an easy to access, and very useable platform, although I have found this tends to run quite slowly on anything other than the most up to date hardware..Please remember that when spreadbetting, you are trading against the company, and that your orders may be subject to manipulation. I have witnessed spreads widen hugely, and usually by just enough to hit your stop. The charting software has improved over time, but is still only very basic, and not really sufficient to make informed trading decisions. And be aware that their charts are based on 'derived' data, and do not necessarily represent true market events.
IGMarkets do have good customer support, and respond quickly to enquiries, both by email and telephone.
All in all, IGMarkets provide an easy way in to trading, with the promise of Tax Free gains (UK), but be aware that the purpose of a spreadbetting company is to make money - in other words, they win when you lose.
