Spreadex Record Trading Results
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Spreadex Set Trading Highs
The markets may have suffered a sell-off at the end of last week, but figures have been all up, up, up for one city trading firm.
Spread betting experts Spreadex recorded the highest monthly bet numbers in the firm’s 10 year history during October.
The numbers – which include trades made on the company’s ShortsandLongs platform – were up 8.6% on previous best-ever levels, helped by the launch of Spreadex’s brand-new website at the start of the month.
Spokesman Andy MacKenzie said: “Like most firms, 2009 has been a tough one for us with many of our customers being, quite rightly, extremely cautious with their trading after the tumultuous events at the back end of last year when the markets were in freefall.
“But with the FTSE having added 50% from its March lows before last week’s pullback, we’ve seen more and more people gaining confidence in the market conditions, culminating in last month’s record high levels of bet numbers.
“While some spread betting firms have been raising their margin rates recently, we’ve actually reduced our spreads, margins and minimum trade level requirements and that has also helped us gain custom from our competitors.”
Mr MacKenzie added: “For our ShortsandLongs platform it was the busiest month we’ve had since the site launched in October 2008, while our sports division saw its highest number of bets taken since the football European Championships in June 2008.
“We have a client base that, while predominantly based in the south-east, covers the length and breadth of the UK so it’s encouraging to see people picking up their trading at rates last seen well before the downturn.”
Editor’s note: Spreadex Ltd is authorised and regulated by the Financial Services Authority. Spread betting carries a high level of risk to your capital and can result in losses larger than your initial stake/deposit. It may not be suitable for everyone, so please ensure you fully understand the risks involved.
About Spreadex
Spreadex Ltd is a financial and sports spread betting firm, which specialises in the personal service and credit area. Founded in 1999, Spreadex is recognised as one of the most experienced spread betting firms in the industry with a strong reputation for its high level of customer service and account management.
"Spreadex Record Trading Results " last update by R Thomas, 04-Nov-2009
Warning: Financial spread betting carries a high level of risk. You can lose more than your initial investment or stake. Financial spread betting may not be suitable for all investors. Only trade with money that you can afford to lose. Make sure you fully understand the risk involved. If necessary, seek independent financial advice.
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