Finspreads Review

1. Finspreads Pros and Cons
2. Is Finspreads safe or a scam?
3. Leverage
4. Fees
5. Spread
6. Trading Platform
7. Deposits and Withdrawals
8. Conclusion

What is Finspreads?

Finspreads is a financial trading firm, which is a part of GAIN Capital Holdings Inc a true giant in financial industry, a publicly-traded company providing online trading solutions. Originally, Finspreads was the UK spread betting firm that became acquired by City Index in 2006 allowing to bring better technological innovation to the company and enhance user experience.

City Index is also a part of GAIN Capital that holds several globally recognized financial firms respectively regulated and heavily financed supporting customers from over 180 countries, including FOREX.com and other firms across the world.

Despite its strong background Finspreads is a type of a trading broker allowing speculation on price movements throughout numerous markets including shares, indices, forex pairs and crude oil. Eventually, the main offering of Finspreads as a UK firm is to provide Spread betting activity where you can bet on spread meaning potentially trade with no fees. However, spread betting is available for UK residents only.

Awards

Obviously, for over twenty years of presence and operation GAIN Capital received numerous reviews and global recognition, with an impressive number of awards and nominations. This is not surprising, as its spurious service and technology deserve its high rankings also bringing you as a trader peace in mind.

Is Finspreads safe or a scam?

Finspreads is obviously a trusted financial service provider, as it is a trading name used by the GAIN Capital Holdings the company incorporated in the US and operating numerous entities according to all the strict laws.

Finspreads itself being a UK firm falls under FCA regulations and overseen, while the mother company Gain Capital company withholds regulations worldwide including IIROC (Canada), CFTC (USA), MAS (Singapore), ASIC (Australia), JFSA (Japan) and more.

Therefore, and due to numerous regulations, Finspread considered a safe company to trade with, as you will be always ensured of its strict follow to international rules, the excellence of service and of course all backed with a global presence of reputable finance firm.

Finspreads regulation, however, provides also sharp control overall procedures, including data protection, funds safety, secure online executions and even protection under FSCS compensation in case of brokers insolvency.

Leverage

Finspreads offering its Spread betting products as a margined product, which means by a small deposit you may have greater exposure to markets. Initially, you need about 1% to 10% of the total position to place an order, which is possible due to leveraged positions.

These levels are also strictly regulated by the industry authorities since leverage forms potential to both profits and losses, therefore being a UK firm Finspreads offers a maximum of 1:30 for retail traders.

Account types

Finspreads offers three different account types, where is a possibility to choose either to limit your betting risk by various minimum stake size or bringing exposure for experienced traders.

The trading accounts at Finspreads are defined by the best way according to the trading style you deploy, while you may surely count on great execution provided by the powerful entity on GAIN Capital, access to tight spreads and low margins.

Fees

For the Finspreads spread itself, GAIN Capital entities are indeed known for its low costs and consistent tight spreads on its offering with over 12,000 global markets. Thus, as Finspreads you may enjoy low spreads as well (Brokers with Low Spreads), where major indices include 1-point spread and as low as 0.5pts on EUR/USD.

See more examples below, as well compare fees to another popular broker TMGM.

Deposits and Withdrawals

Finspreads offers only common payment methods, but they are actually most trustable and the most common ones. The options including transfers through Debit and Credit Cards, or the Wire Bank Transfer.

Minimum deposit

FInspreads minimum deposit is $50, which is depending on the account type you choose to open, while the Beginners account demands at least this amount.  Finspreads Limited Risk Account or Standard Finspreads Account requires $100 at the very beginning.

FInspreads minimum deposit vs other brokers

Withdrawal

Finspreads charges no fees for making deposits in case you use a debit card for money deposit, however in case you use credit card transfer is entitled to 1.5% processing fee. Further on, while you will be withdrawing money from trading account Finspreads withdrawal options are limited to Cards and Bank Wire, by far most used options, and typically does not charge any fees as well, yet always make sure with payment provider from your region in case of fees.

Conclusion

Our verdict for Finspreads is positive, as a part of global leading online trading and financial investment company, Finspreads gained our trust, as well as confirmation by numerous successful traders GAIN Capital is famous for.  Apart from its well regulated and respected trading environment, Finspreads also providing some of the competitive conditions for spread betting on numerous markets. We also like the technology they offer and definitely great pricing, which is among the lowest spread in the industry.

Finspreads Updates

Finspreads as a part of GAIN CApital is no longer active, traders are redirected to another trading name City Index. City Index is a reliable broker with good trading conditions, read more on City Index Review.