You provide your chosen spread betting company with your personal details such as name, address, contact number, employment and banking details.
Processing your application form can take 24 hours or more so you cannot start trading immediately. Your spread betting company will want to check your credit history and double-check the information you gave them.
Some spread betting companies, however, may allow you to start trading before the verification process. This happens if you are going to use a cash account, as opposed to a credit account, or if you are looking at starting with a small amount of capital e.g £100.
Either way, a one or two day difference is inconsequential compared to other criteria by which you are going to choose your company from.
While you are waiting for your account to be set up, you can start practising with virtual money using a demo account. For example, IG offers a demo account option which allows you to trade a demo portfolio worth £10,000 using real financial instruments and real prices. This is a very effective way of familiarising yourself with spread betting before committing real money.
What can you spread bet on?
- stock indices (FTSE, DAX, DOW, CAC, S&P)
- single shares (US, UK, European)
- commodities (gold, silver, oil)
- bonds (Bund, Gilt, BOBL, JGB)
- other products (property prices, weather, interest rates)
What you need to know:
The list of products you can spread bet on continues to grow due to client feedback and requests. If in doubt, check with us.
For further Spread Betting options
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