The Financial Spreads Platform Reopens for Trading
In July 2015, Financial Spreads, the UK spread betting and CFD trading operator, wrote to their clients to say they could no longer offer a trading service. Financial Spreads has now re-opened.
Financial Spreads was operating as a 'trading name' of Finsa Europe Ltd (Finsa). Following a review of this 'trading name' business model, Finsa felt they had to cease working with their partners and develop a more robust regulatory framework for these relationships instead.
Nevertheless, Financial Spreads did make the decision to continue working with Finsa and the new regulatory status was approved by the Financial Conduct Authority on 14 September 2015.
Financial Spreads is now a trading name of Clear Investor Ltd. which is an appointed representative of FINSA Europe Ltd., company no: 07073413. FINSA Europe Ltd. is authorised and regulated by the Financial Conduct Authority, registered number 525164.
No Complaints Against Financial Spreads
According to Adam Jepsen, the Founder of Financial Spreads, there were no complaints against Financial Spreads.
"I've been running Financial Spreads for nearly 10 years and in that time I've not heard of a single client complaint to either the ombudsman or the regulator about Financial Spreads.
"We have always prided ourselves on operating a transparent and fair service."
Client Funds Swiftly Returned
At the time of the closure, Financial Spreads could do little but return client funds.
"Telling clients who were trading day-in day-out with Financial Spreads that we could not take any new trades was very difficult but it was also incredibly inconvenient for our clients.
"All we could do to help clients was to ensure the swift return of their funds," said Adam Jepsen.
New Platform and Familiar User-Friendly Interface
As well as seeking a more robust level of regulation, and the extra due diligence that comes with, Financial Spreads took the opportunity to carry out a complete platform upgrade.
The platform has new advanced charts, a new pricing engine designed to reduce the number of trade rejections in fast moving markets, and a host of other improvements such as netted margin when trades are hedged.
It has been important to keep the user-friendly nature of the platform, "When your business is presented with a challenge, you need to pick yourself up and work on something positive. In this case, we've spent a lot of time working with Finsa on the new platform.
"Having said that, I've always subscribed to the theory of 'If it ain't broke, don't fix it'. While there are a lot of improvements, it's been particularly important to keep the familiar and user-friendly layout," continued Jepsen.
Spread betting, CFDs and margined forex trading are leveraged products which carry a high level of risk to your capital. Ensure spread betting, CFDs and margined forex meet your investment objectives and, if necessary, seek independent advice.
Investors can trade numerous spread betting and CFD markets via the Financial Spreads website and mobile apps
Clients can access a broad range of forex
, stock indices and commodities markets
as well as individual shares
listed in the UK, US and Europe. An array of markets is also available to trade 24 hours a day from Sunday evening through to Friday evening.
Financial Spreads is a trading name of Clear Investor Ltd. which is an appointed representative of FINSA Europe Ltd., company no: 07073413. FINSA Europe Ltd. is authorised and regulated by the Financial Conduct Authority, registered number 525164.
Registered Address: 9th Floor, 30 Crown Place, London, EC2A 4ES, UK.
The information and comments provided herein under no circumstances are to be considered an offer or solicitation to invest and nothing herein should be construed as investment advice. The information provided is believed to be accurate at the date the information is produced.
By Adam Jepsen, 19 February 2016