Thankfully Spreadex has stopped daily spread bets closing out automatically at the end of the day.
Since spread betting began way back when brokers would offer daily spread bets, that expired at the end of the trading day, but in reality most clients would opt to have them roll over each day.
This is good news for Spreadex customers as if you don’t check your account every five minutes, or tend to delete statement emails without reading them it’s sickening to login a few days after putting a trade in to lock in a hefty profit only to see that the position was closed at the end of the first day. Read our Spreadex Review…
Most spread betting companies gradually phased this out as most customers are either short term traders who close their positions themselves to reduce over night exposure.
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
You can contact Richard at richard@goodmoneyguide.com
