Markets Fallen From Favour
Spread Betting Trading Centre: What type of background checks, if any, do you require for clients?
IG Index: We have to verify the identity of every client for whom we open an account. This is in line with the FSA’s requirements regarding AML. In addition, for certain type of accounts (eg Credit) we require clients to verify liquid assets.
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?
IG Index: We do not accept clients from the US. This is inline with the SEC’s rules. Apart from that we can, in theory, accept clients from anywhere.
Spread Betting Trading Centre: What are the current most popular spread bets that you are seeing?
IG Index: Our most popular markets are always bets on the FTSE and Dow Jones indices. Whilst we offer an enormous range of shares, FX and commodities which are very popular, these headline indices offer the easiest avenue to speculate on the sentiment of the market or global economy as a whole.
Spread Betting Trading Centre: Have any sectors, stocks, indices etc fallen out of favour recently?
IG Index: We are currently seeing less business in commodities, particularly oil, than we might expect. This is odd given the rally in the oil market of late but reflects somewhat what we know already. Our clients bet on markets which they feel some connection with but also those which are in the press. Since its period of inactivity (during which we would naturally expect to see much less business), oil has not received the press coverage you might expect given its c.50% rally in 6 months.
Spread Betting Trading Centre: Do you offer demo accounts?
IG Index: We offer demo accounts for our CFD operation but not for spread betting. It is so easy – and free – to open an IG Index account and gain access to live prices, TradeSense etc that we think clients would not gain hugely from a demo account. Also, lower minimums in the initial period allow clients to try spread betting with low values on the table.
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