Finspreads, having been acquired by IFX Limited in May 2002, has launched the UK’s first Academy of Spread Betting, a free, eight-week course designed exclusively for Finspreads clients, whether they are new to financial spread betting or experienced traders. The step-by-step course helps to explain and explore the fundamentals of spread betting, demonstrating a range of different spread betting opportunities that having a Finspreads account can offer, as well as offering tips and ideas for low-risk, profitable trading.
Finspreads’ online betting system is designed specifically for the Company and features a nominal 1p minimum stake and a deposit of £100. Both telephone and online orders can be processed.
The Academy has been established to broaden this fast-growing means of trading and investment beyond the limited but growing numbers who have already identified the advantages of spread betting.
Financial spread betting provides clients with a simple but highly efficient method of trading in UK and international financial markets. While essentially similar to other forms of financial trading, the contracts are structured as bets and do not attract tax or stamp duty. Clients deposit a percentage of the underlying contract value of the instrument, typically 20 per cent, while committing themselves to the full value of the transaction.
Each week Finspreads will provide course notes to guide clients as they progress from introduction to gaining more sophisticated insights. Armed with their new-found knowledge, clients will have total control of their trading.
Academy members will not only be able to trade for as little as £2 a point on the phone, they can deal for 1p a point using the Finspreads website - so they start knowing that any losses will be limited by the small stakes involved. This facility is unique to Finspreads.
Graham Wellesley, Chief Executive of Zetters Group, said: “Financial spread betting offers many advantages such as margin trading, the ability to ‘sell’ as well as ‘buy’ in world markets, and no tax charges. We consider our proprietary system to be the most advanced, efficient and easiest to use in the business.”
Kevin Taylor, Managing Director of Finspreads, said: “By setting up The Academy, we are showing our commitment to bringing these benefits to a much wider audience. With the backing of IFX, we are in an ideal position to achieve this goal.”
Spread bets made through Finspreads’ web site now account for nearly 90 per cent of the Company’s opening bet volumes, while telephone volumes have remained constant since February 2001.
Finspreads’ Personal Account Supervisors are available on the phone between 8.30am and 5.30pm to answer any questions, enabling clients to trade with confidence.
To enrol in the Finspreads Academy go to http://www.finspreads.com, freephone 08000 969620 or email firstname.lastname@example.org.
For further information, please contact:
Tel: +44(0)20 7332 9403
Kevin Taylor, CEO
Bankside Consultants Limited
Peter Curtain / Russell Elliott
Tel: +44 (0) 20 7444 4140
Notes to Editors:
Finspreads, launched in April 1999, has an experienced management team, led by Kevin Taylor. The Company was bought by IFX Limited, the financial services company and primary subsidiary of Zetters Group plc, in May 2002.
Its team of traders, led by Stuart Lane, has extensive industry experience in managing exposure to financial markets.
As at 31 March 2002, more than 8,800 accounts had been opened with an average of over 310 accounts being opened each month since February 2001. Around 50 per cent of the existing client base has been active in the last three months.
Transaction volumes have increased substantially over the past two years and Finspreads took an average of approximately 60,000 opening bets per month over the three months ended 31 March 2002. Financial spread betting is the fastest-growing means of trading in equities and equity indices.
Finspreads’ turnover is divided into three product categories: stock market indices, shares and other markets (including currencies, commodities and interest rates). Indices and shares make up more than 90 per cent of the total turnover.
Finspreads is now one of the three largest and most active providers of financial spread betting services in the UK.
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