February, 2010

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Spreadex - Spread Betting Firm Offers Private Jetmiles Loyalty Scheme

Friday, February 26th, 2010

Spread betting experts Spreadex have given lift-off to a stylish new loyalty scheme for its top financial and sports customers – Spreadex Private Jetmiles.

The St Albans firm is offering its clients the chance to earn time on two luxury Cessna Citation X jets, the world’s fastest civilian aircraft.

This uniquely tailored service means Spreadex customers, once qualified for flight time, can fly to airfields that commercial aircraft can’t access, and at a schedule of their own choice.

Spreadex Marketing Communications Manager Andy MacKenzie said: “To reward our top customers for their loyal business we wanted to create a scheme which had that added ‘wow factor’ and we believe Private Jetmiles has just that.

“Whether it’s flying to Paris within 45 minutes on a business trip or taking the family on a summer holiday to the Mediterranean in under two hours, the scheme has fantastic appeal to those who take their spread betting seriously and presents an unparalleled travelling experience.”

Customers earn points every time they place a financial or sports spread bet and rather than being based on profits or losses on an account, the points are generated by a ‘bet value’.

As spread betting firms make their money from the ‘spreads’ they offer on financial or sports markets, basically the higher the stake size a customer places on given markets the more points they earn towards flight time.

Mr MacKenzie added: “This may be out of the reach of the smaller speculator, but we have made this extremely achievable for the professional, larger investor who uses spread betting as a hedging or alternative investment tool.

“In fact we have a number of customers who are close to qualifying for flight time just two months into the first six month qualifying period.

“Flying on these Cessna Citation X jets really is the way to travel and we’re sure this is going to prove extremely popular with our clients and their associates.

“Additionally, we are also looking at introducing loyalty schemes to reward our smaller staking clients, whose business we also appreciate greatly.”

Visit the Spreadex website for full details on Spreadex Private Jetmiles and the specifications of the Cessna Citation X jets.

Also see the Spreadex review.

About Spreadex: Spreadex is a financial spread betting and sports spread betting firm. They specialise in the personal service and credit area.

Note: Spreadex Ltd is authorised and regulated by the Financial Services Authority. Spread betting carries a high level of risk to your capital and can result in losses larger than your initial stake/deposit. It may not be suitable for everyone, so please ensure you fully understand the risks involved.

The above comments do not constitute investment advice and neither Spreadex nor Spread-Betting.org accept any responsibility for any use that may be made of them.

Posted in Financial Markets | 1 Response »

Spreadex Opens up to Liverpool

Tuesday, February 23rd, 2010

Spread betting firm Spreadex has expanded its operations by opening a new office in Liverpool.

The firm, whose headquarters are based in St Albans, Hertfordshire, has made the move to help bring the popular form of financial trading to investors in the north-west.

The new office is located in The Plaza, in Old Hall Street, and is manned by experienced traders Darren Barton and Robin Harrington.

Darren, 36, from Aughton, said: “Spread betting is traditionally linked with the south east and London but this form of trading has grown in popularity in recent years as an alternative investment tool and is being used by more and more people across the country from the smaller speculator to the sophisticated larger investor.

“Basically this practice is suited to anyone who keeps a regular eye on movements of global indices such as the FTSE or Dow, or who is knowledgeable about changing share prices, commodity or currency prices.

“Financial spread betting provides the opportunity to make money from correctly predicting moves in these markets and, as it is a leveraged product, you can gain access to these markets with a much smaller initial outlay than traditional trading methods.

“There are many other benefits, such as the ability to profit from falling as well as rising markets and that money made from spread betting is currently free from stamp duty or capital gains tax.

“We are keen to help explain the ins and outs of financial spread betting to any interested investors across the area and would encourage anyone to give us a call on 0151 600 5000 or to simply pop into the office here so we can see how we can help.”

Robin, 40, who lives in Liverpool city centre, said: “Spreadex is one of the original spread betting companies, having formed in 1999, so we have a great wealth of experience and expertise in this area, which we are keen to pass on.

“We have a full online platform at www.spreadex.com where customers can carry out their trading, but we have found that many clients like the personal touch of hearing a familiar voice and like to execute their trades over the phone.

“Our focus here is to help with any queries or questions on financial spread trading, but our company also has a full sports spread betting service offering in-play betting on every Premier League football match and covering all sports from darts to the dogs.”

Darren, who is a member of Formby Cricket Club, has 10 years of trading experience while Robin has previously worked for Goldman Sachs, Baring Bros and Deutsche Bank.

About Spreadex

Spreadex Ltd is a financial and sports spread betting firm, which specialises in the personal service and credit area. Founded in 1999, Spreadex is recognised as one of the most experienced spread betting firms in the industry with a strong reputation for its high level of customer service and account management.

For further details and a review of the company see Spreadex.

Note: Spreadex Ltd is authorised and regulated by the Financial Services Authority. Spread betting carries a high level of risk to your capital and can result in losses larger than your initial stake/deposit. It may not be suitable for everyone, so please ensure you fully understand the risks involved.

The above comments do not constitute investment advice and neither Spreadex nor Spread-Betting.org accept any responsibility for any use that may be made of them.

Posted in Spread Betting News | No Responses »

US Federal Reserve Raises the Discount Rate

Friday, February 19th, 2010

The Financial update from David Evans, BetOnMarkets.

From 08:00 to 09:00 today we have a series of French, German and European services and PMI announcements.

At 09:30 we have UK retail sales with a drop of 0.5% expected. Keep your eye on the GBP/USD around this time.

It could be a good time for a Financial Fixed Odds Double (Down) Bet on the GBP/USD. Another round of weak UK data could be another nail in the coffin for the beleaguered pound.

Following this we have Canadian retail sales at 13:30. US inflation data is released at the same time.

Early Forex Moves

After last night’s surprise discount rate hike, today’s early trend is strength in the US dollar and Japanese yen.

US Federal Reserve Raises the Discount Rate

Late last night after the Dow Jones had closed, the US Federal Reserve hit markets unawares with a surprise decision to raise the discount rate.

The discount rate differs from the regular base rate and is the rate charged to banks for direct loans from the Fed.

The rate was raised by a quarter point to 0.75. The Fed had intended this to be a signal that the worst of the crisis is passing, encouraging financial institutions to use private money markets instead of central funds.

While the Fed may have intended this to be a sign of strength, so far markets have reacted badly. US stock markets plunged post market, reversing all of the day’s gains from regular trading hours.

Traders have shifted to the US dollar and the Japanese yen and strongly dumped currencies viewed as suspect – namely the British pound.

And the biggest loser this morning, and by a fair margin, is the British pound.

GBP/ USD is down 0.67% while the Pound-Yen market is down 0.75%. This is a continuation of the reaction to the ballooning in UK public sector spending.

After weeks of focus on the Greek economy, fingers are now pointing to the state of the UK’s national finances.

The above comments do not constitute investment advice and neither BetOnMarkets nor Spread-Betting.org accept any responsibility for any use that may be made of them.

Posted in Financial Markets | No Responses »

Markets Move Higher as European Fiscal Fears Ease: Spread Betting Update

Wednesday, February 10th, 2010

European bourses opened higher following easing of concerns over the fiscal situation in Greece, Spain and Portugal, led by the strength in the financial sector.

Further strength was observed in the FTSE 100 spreads following better than expected UK industrial and manufacturing production figures.

Later in the session, the FTSE 100 was supported further on the back comments from BOE’s King that UK’s inflation will undershoot the 2% target.

Moving into the North American open, European equities are trading in positive territory with financials and utilities the best performing sectors.

Dollar-denominated risk assets, including asset-backed securities and corporates, are no longer wanted at the State Administration of Foreign Exchange (SAFE), nor at China’s large commercial banks.

The Chinese government has ordered its reserve managers to divest itself of riskier securities and hold only Treasuries and US agency debt with an implicit or explicit government guarantee.

This already has been communicated to American securities dealers, according to market participants with direct knowledge of the events.

One of every five US home owners owed more on their mortgage than their home was worth in the fourth quarter, a trend that poses a serious threat to the US housing market’s recovery, real estate website Zillow.com said.

MBA Mortgage Applications (Feb 5) W/W -1.2% vs. Prev. 21.0% (BBG)

ABC Consumer Confidence (Feb 7) W/W -48 vs. Prev. -49 (BBG)

US banks have USD 176bln in exposure to Greece, Ireland, Portugal and Spain, with risks concentrated among the 10 largest US banks, according to Barclays Capital.

The total exposure to these nations, however, comprises only around 5% of the total foreign exposure of US banks.

The report also suggested US banks faced limited risk because much of the balance was collateralised.

Forex

The GBP gained strength across the board following better than expected industrial and manufacturing production figures from the UK.

However, following the release of the BOE quarterly inflation report that indicated inflation will undershoot the 2% target and comments from BoE’s King that it is far too soon to conclude the end of QE, GBP pared gains.

EUR gained briefly on comments that Germany is considering Greek aid beyond loan guarantee, however the move was short lived as a French source said that no agreement has been made on the aid package.

In other news, China should not allow any major CNY appreciation in the first half of the year and will not give in to foreign demands to let its currency rise. (China Securities Journal)

Finally, overnight the Australia Westpac Consumer Confidence (Feb) M/M -2.6% vs. Prev. 5.6% (BBG/RTRS).

Commodities

Heading into the North American open, WTI crude futures moved off lows and into positive territory, as fresh weakness in the USD index and reports of colder than usual temperatures in the US boosted prices for heating oils.

In oil related news:

  • OPEC raises 2010 forecast for demand for its crude by 160,000bpd to 28.75mln bpd, mainly on lower OPEC NGL output. Trims 2010 world oil demand growth forecast to 810,000 bpd, prev. forecast 820,000 bpd. Says slow pace of world economic recovery in 2010 pressuring oil demand, US demand key uncertainty. OPEC met 53% of pledged oil supply curbs in January, down from 57% in Dec.
  • Iraq oil minister said an explosion in the pipeline connecting oil fields in Kirkuk to the Doura refinery cut production at the facility by half; the Doura refinery has a capacity of 140,000 bpd.

In geopolitical news:

  • Nigeria’s main militant group says monitoring developments after VP assumes presidential powers.
  • Iran has no plans to sell reactor-grade uranium, according to Iran embassy ambassador to IAEA Salehi.

Risk Warning: Spread betting carries a high level of risk to your capital. You may lose more than your initial investment. It may not be suitable for all investors. Only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved and seek independent financial advice where necessary.

The above comments do not constitute investment advice and neither Paddypowertrader nor Spread-Betting.org accept any responsibility for any use that may be made of them.

paddypowertrader is a trading name of London Capital Group Ltd (LCG) which is a company registered in England and Wales under registered number: 3218125. LCG is authorised and regulated by the Financial Services Authority.

Posted in Financial Markets, Spread Betting News | No Responses »