- Regulation: ProSpreads, is part of the London Capital Group who operate Capital Spreads but is incorporated and regulated in Gibraltar by the Gibraltar Gaming Commission, as well as Gibraltar’s Financial Services Commission.
- Instruments: Indices, Commodities, Currency Futures and Forex.
- Features: Tight Spreads and Direct Market Access to order flows.
- Minimum Deposit: Initial Deposit £500, top up minimum of £100.
ProSpreads offer their own unique platform which allows their customers Direct Market Access, so the trader can see the current underlying price as well as seeing the order flow. While the platform isn’t the prettiest thing around, it still allows the trader to undertake full charting and other forms of analysis. The real bonus to the ProSpread platform is the access to the Direct Market which allows you to see the bids and offers, this gives a trader another tool to trade with which is not available at the majority of Spread betting firms. Looking at order flow can be very beneficial and is something that is often considered vital to trading success. As far as I can tell their is no mobile trading support, though I presume that ProSpreads probably allows their clients to open positions over the phone. While the ProSpreads platform may not be the most accessible trading platform it is clearly aimed at the professional or serious Spread bettor. For those interested in the ProSpreads platform I recommend that they check out the intro videos at the ProSpreads website.
The real special feature at ProSpreads has already been talked about the access to real market order flows and bid and offer prices. This information can really help inform your trading and is highly recommended.
The Spreads at ProSpreads are very competitive for example their Spread on the FTSE is only half a point. The Spreads on the majority of instruments offered on the platform are very competitive and are hard to beat. It should be mentioned that ProSpreads do not offer a huge array of instruments meaning that you can’t trade individual stocks on the platform, however their are a wide range of Forex, Futures, Commodities and Indices availiable to trade. If your only interested in trading these instruments ProSpreads may be a very good choice for you.
I have no direct experience with the customer service at ProSpreads, but I do have some experience with the customer service provided by the London Capital Group. All my experience with London Capital Group has been positive and I imagine that ProSpreads offer the same high quality of service as the other companies within the group. It appears the ProSpreads is relatively small company but offer a high quality of service to their limited customer base.
One downside to ProSpreads is that they are not regulated by a financial services authority but are rather regulated by the Gibraltar Gaming Commission. While Gaming regulation does ensure some client protection it is not quite as all encompassing as financial regulation, which may give some customers a bit of a concern. However, it should be pointed out that London Capital Group is itself regulated by the FSA and has a fine regulatory record, this fact may alleviate some peoples doubt about depositing with ProSpreads.
Overall, the Direct Market Access features at ProSpreads are very impressive and should be of interest to any serious Spread bettor. The only downsides to ProSpreads is the lack of financial regulation and the limited instruments available for trading.