Fees And Safeguards
Spread Betting Trading Centre: Are there minimum or maximum bets users are restricted to?
Capital Spreads: For a sterling account minimum for all markets is £1 and the maximum depends on the product. We have clients who trade in £2500 in the FTSE as an indication. Maximum levels generally depend upon the underlying liquidity of the market concerned. If we cannot get the stock to hedge we are unlikely to allow a client to build a huge position.
Spread Betting Trading Centre: Do you charge fees for your services or is it built into the spread?
Capital Spreads: Our fees are built into the spread. Rolling bets have an overnight financing fee.
Spread Betting Trading Centre: Which safe guards does your company provide for their betters?
Capital Spreads: We enforce stops which are placed within the available funds on the clients accounts. In the four years of business we have only had a handful of clients going into negative funding with us. Our company is regulated by the FSA and all client funds are held in segregated accounts and all winning bets are also held in segregated accounts (we cannot take out losing bets from this sum). As we are regulated by the FSA our clients also benefit from the insurance of being able to claim up to £48K per client from the FSA if we go bust.
Spread Betting Trading Centre: Are there extra charges for stop-losses, guaranteed stop-losses?
Capital Spreads: No, no charges for stops and we do not offer guaranteed stop losses.
Spread Betting Trading Centre: What type of background checks, if any, do you require for clients?
Capital Spreads: We follow full KYC checks on all our clients. They must prove that they are who they say they are and any funds deposited must match the details provided. They must confirm these details annually otherwise their accounts are frozen.
Spread Betting Trading Centre: Do you offer your services to international clients and do you exclude particular countries because of rules and regulations with gambling?
Capital Spreads: We exclude the USA and Turkey but elsewhere it is up to the client to acquaint him/herself with local laws. Some 10% of our clients come from outside the UK.
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