FP Markets DMA Spread Betting

[phoenix25140]

Hi guys,
Does anyone have any experience with this broker?

I see they offer DMA access so i would imagine the deposit level is £5000 +

Do they offer all FTSE 350 companies?

Thanks
Nathan

 

[ivoluxe]

Hi guys,
Does anyone have any experience with this broker?

I see they offer DMA access so i would imagine the deposit level is £5000 +

Do they offer all FTSE 350 companies?

Thanks
Nathan

I'm interested in this broker too, but have been trying to contact them trough email and their website with no success.

So not a good start

 

[pboyles]

How can you have direct market access on a spreadbetting account? You're not trading the real market.

 

[SpreadBeta]

A number of SB accounts have a form of DMA behind them. When I buy a few pounds a point of a smallcap share on IG I can see them instantaniously hedge it in the LSE market so in effect i have bought the sahes on the LSE at the LSE price plus IGs commission/spread. They dont always hedge in this way but when they do its a form of DMA. I buy off IG and my contract / SB is with THEM and they buy in the market in their name.

All FP promised was thet they would hedge 100% of the trades you placed thru them. In this way they promised to never be betting against you. Your SB was with them and they simply hedged it in the market. They extended this so if you had a limit order with them then as they were to hedge 100% they simply put a limit order in the LSE market in their name at the level you specified. If they were filled on the LSE they filled your SB at the transacted price plus their spread. So no its not real DMA in the sense that YOU are not trading on the LSE but the effect and prices you can obtain from the FP "Bookie" is the same.

I believe that FP have now stopped offering equity spreadbets and were to focus on forex only.

However i understand that Cantor Fitz were considering offering Equity Only DMA type spreadbetting via the IRESS type clinet that FP used & using a similar 100% hedging approach but as yet they have not launched anthing to my knowledge..

 

[Vasco da Banana]

Prospreads in its original Futures Betting incarnation was supposedly DMA, in that everything was hedged automatically, but now it's apparently more like other SBs, except that you always get filled quickly and pay wider spreads for the privilege. DMA can't really work with SB -- check out the Capital Spreads thread for reasons why, if you have a day or two to spare.

Does IG really hedge equity bets of a few quid?