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Who is the best Spread Bet broker
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Last update : March 2010
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| This is a similar question to 'which is the best bank'. In my opinion both the spread bet brokers and the banks are all as good and as bad as each other.
You might for example swear by Barclays having never had a problem in over 10 years. Others though will report that Barclays are THE worst and instead highly recommend First Direct.
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| It is exactly the same with the Spread bet brokers. Some love broker A, others will report that they're no good and in their opinion should be avoided.
So how to find the right broker for you? This is what I'd look for -
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- What sort of markets do they offer and how competitive are their bid-offer spreads
- Look at their online trading platform in relation to their competitors
- The size of the minimum bet, the smaller the better (small bets add to flexibility) and critical when first starting out, losses should be kept small at all times
- How efficient is their Help desk - call it up, how long do they take to answer the phone, are they actually any help etc
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| Opening an account with any of the brokers is simple, most of the time it can be done online. This also makes changing accounts easy, so if you're not happy with your present broker it's simple to take your business elsewhere. |
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