Account Management

With the Financial Spread Betting Trading Platform, you can manage your account easily and safely. This includes placing trades, checking open or closed positions, etc.

You will find below information on the following topics

Index

• Depositing funds
• Withdrawing funds
• Opening a trade
• Closing a trade
• Contract expiry dates
• Placing a trade online

Depositing funds

Initial margin may be deposited in the form of a cheque with your name and account number at the back of the cheque or by debit or credit card using our online payment facility or by bank transfer. The following card types are accepted:

- Visa
- Visa Debit
- Visa Delta
- Visa Electron
- MasterCard
- Maestro
- Solo

We do not accept cards that are registered to American residents.

Please note that credit card transactions are subject to a 2% surcharge and debit cards have no charge.

The minimum deposit required to open an account is £500 (or currency equivalent)

Your card provider may treat credit card transactions as cash advances and therefore, you maybe subject to further charges or there maybe daily cash limits applicable. Please refer to your card provider for further information.

It should also be noted that there is a restriction that only ONE credit card can be registered and up to THREE debit cards per customer.

Registration of debit and credit cards

Please telephone our customer services team to register any new cards / arrange a payment transaction.

Online payment area coming soon!

Bank Transfers

Cheques

If you wish to deposit funds by cheque then please put your account number and name on the reverse of the cheque and send it to:

Cheques must be drawn in sterling on account with a UK branch of a UK clearing bank in your sole name and matching the same details as registered with us. Cheques drawn in other currencies other than GBP or non- UK banks or a non-UK branch of a UK Bank cannot be accepted. It is your responsibility to have the correct currency trading account already in place.

Your account will normally be credited 7 days after receipt of your cheque to allow for clearance. In view of the clearance delay we would not recommend this as a regular method of funding your account.

Important Notice:
When transferring funds to our bank account please ensure you clearly state your full name and WorldSpreads Account Number as your Payment Reference. Please also contact us as soon as possible via email or telephone and supply a copy of your bank receipt. Your account will be credited when the funds have reached our bank account.

Withdrawing Funds

In order to help protect you against fraud, we may request additional information before making payment. We will generally pay you back using the same method which funds are deposited to your trading account. However, it should be noted that we do NOT accept or make payments to/from third parties. Please contact our Client Services department in order to make a withdrawal request from your account.

MasterCard ruling prevents us from paying funds back to this card due to gaming license restrictions. In these instances we shall remit funds back to you using a BACS bank transfer method of payment direct to your personal registered bank account. Before we can arrange such a transaction you shall need to supply us with an ORIGINAL bank statement dated within the last 3 months verifying your details. International customers will need to also supply their bank’s IBAN and SWIFT Code.

Bank Transfers

The following fees will generally apply:

• UK 3 day sterling payment (BACS): free
  
• UK same day sterling payment (CHAPS): above £5000 - free; Below £5000 - £15

Opening a trade

You have two ways to trade with Financial Spread Betting:

1. You may log onto our website www.financialspreadbetting.co.uk. Login to the member’s area using the username and password received when your account was opened. You can review all available instruments and choose whichever you wish to trade. You can then click on the sell or buy icon, depending on your view, and add your stake. You will be prompted with a confirmation window, confirming that your trade is about to be placed. You then just click the confirm icon.

2. You may call our trading desk directly on + 44 (0)20 7398 5279 One of our traders will be able to give you a quote on the market you wish to trade. If you wish to proceed, you confirm your name and account number and the direction and size of your trade. The trade will then be placed and confirmed by our trader.

Closing out a trade

You may, during the last few days of a contract, decide that you want to rollover the position into the next quarter. In this case, simply contact the Financial Spread Betting trading desk. We will close your existing position at mid market and give you a quote to open a new trade in the next contract.

Contract expiry dates

Each bet has a fixed expiration date and time. There are three main types of financial Spread bet online, a daily bet, a rolling bet and a futures bet. A daily bet is a bet that expires at the end of the trading day. A rolling bet is one that usually expires at the end of a trading day and is automatically rolled over to the next day at the same price with a small funding charge debited to your account. Rolling bets are automatically rolled over until the bet is closed by you. A future trade is one that expires (usually on a quarterly basis) at the end of a fixed period of time on a specific date in the future. Actual expiry dates for future contracts are specified in the market information section of this website. Financial Spread Betting also endeavours to advise customers by e-mail of upcoming expiry dates.

You may, during the last few days of a contract, decide that you want to rollover your position into the next month or quarter. In this case, simply contact the Financial Spread Betting trading desk and we will give you a quote for the next quarter.

Placing a trade online

Before placing a trade online with Financial Spread Betting, it is necessary to complete three simple steps: open an account, sign in, and arrange for deposit to be credited to your account. Alternatively you may use your credit allocation to open a position.

At the top left corner of the home page you will find the list of categories which trades are available for.

Click on your chosen market category to view the individual instruments that are available. We will choose Shares for this example. This shows several different categories that are available. We will choose Irish Shares for this example.

When you have selected your specific category, you select the specific product you wish to trade. For this example we will pick Anglo Irish Bank. By clicking on the name Anglo Irish Bank, you are shown the margin requirement for placing a trade on this stock and the settlement date on which the contract expires.

Now you simply place your stake amount in the box provided and click on either Buy (Go High) or Sell (Go Low).

After you have clicked on Buy or Sell, you are directed to the Trade Requested screen. This outlines the details of the trade you are looking to place, including the product name, your stake and the price of your buy or sell. At this stage you have the option to either Confirm or Cancel your trade.

One you have clicked on Confirm your trade has been placed