Posts Tagged ‘Paddypower’

Hi all,

If you think the trend has changed and the USD is going to be stronger or even if you think the opposite, you want to find the best spread out there.

for daily most of the companies offer 3 points spread but for September or December there is a difference. Again IG Index are not competitive and offer 12 points spread. City Index and Paddy Power trader offer better – only 8 points spread.

You may think that it is not a big difference but you will be surprised how much the spread is eating your profits. So shop around!

Hi all ,

I was checking Astrazeneca maybe to open a short position on the stock. While I was checking (and decided not to) I found that Paddy power Trader offers 7 point spread for September while IG Index offers 21 points spread. This is 300% more!

It is not the first time that I found that IG Index is not competitive at all. My advice as always is to open several accounts and shop for the best spread.

Having said so I opened an account with ODL Market and got an iPod as gift. They do offer very good spread on indexes but not so good on shares.

Hi all,

I compared the spread between Paddy Power & IG Index and Paddy Power are winning by far.

S&P 500: Paddy: 0.5 IG: 0.7

Dax: Paddy 1 point IG: 2 points

Most of the shares are half price with Paddy Power. The only place that IG are winning is on the Dow. Paddy charges 5 points spread while IG only 4.

Shop around before you put a trade!

Hi all,

I was looking for a quote to buy some shares in Tesco and I was amazed to see the difference between IG Index and Paddypower. The spread for March at IG Index is 1.6 with Paddypower it is just 0.7! so you pay more than double with IG Index.

This is a real difference and it may sound pennies if you just put 1 pound but if you bet £100 per point you already give £90 more!

Always shop around to see who is offering the most competitive spread.

This week I opened a CFD account with IG Index and their client service was very good. There was a problem with transferring money from my spread betting account to the CFD and they solved it quickly.

On the other hand I sent to them lists of questions last week and I am still waiting for answers.

I’ve also noticed that they don’t offer the best spread around. On shares Paddypower offers better spread on a random check. But IG Index platform is better…

Hi All,

I bought yesterday the oil company Dana Petroleum. I know that oil prices are down, but this company states that they will still earn even when the oil price is $30 (which is now around $38). On top of that the company is debt free which is always a good positive sign.

They announced on Monday that they bought Bow Valley Energy for $177m in cash.

I bought them at 947p (March rolling) using Paddypower that offered the best spread by far.

Hi,

I’ve took 4 shares, 2 from the FTSE 100, 1 from FTSE 250 and one from USA and compared 5 platforms. Very interesting results:

My advice, always compare the spread. There is huge difference between platforms.

I really like Paddypower. Why? It is easy to use and I like the colours… and one important small thing: I have a lot of luck with them.

They don’t offer the most sophisticated platform out there, but it is decent and it does the job.

It is very easy to open a position or to an order, but for some reason when you place an order you must put the entry level with decimal point (i.e 4500.1) it is strange but you can live with it. You get an email notification on each order and trade that you do. This is great to keep records.

One thing that I don’t like is when you have an opened position you can’t alter the stop loss or the limit (or at least I didn’t find how to do so). You can either close the position or wait to the stop loss and limit that you had setup before, to triggered. I don’t like this because sometimes when my trade is in the money, I move the stop loss to a level where I can’t lost and try to see if the markets run in my direction. With Paddypower you can’t do it. They also don’t offer trailing stop loss which is fine by me, because I don’t use them.

They do offer a demo account which is quite handy for beginners, and from time to time they have promotions that offer you free credit which I like to take advantage of. If you refer a friend you get £50 extra.

Their charts are similar to everyone but they do offer 2 external research tools which I like. On their homepage they have nice tool that shows the percentages of traders that are long on Index / Share / Currencies, compare to the ones that are short. So you can see at any point if other people think like you or not. I use this tool because it gives you good indication what other people thinks.

They have a blog with good info and ‘Trader academy’ with videos that explain about Spread betting.

Their platform uses Flash and works very good even on Linux. But I find it a bit slow sometimes.

Their spread is very competitive and sometimes like on the German Dax they are leading the market.

All in all I find them very good and I use them quite a lot. I never used their customer service so I can’t report on that.

But one small annoying thing. When you lose your losses are in red which is fine. But when you winning the colour is black which I find unhappy colour. When I am winning I want to see it in blue or green, definitely not black. I know it is tiny thing…

Hi all,

On Friday I bought shares of Barclays at 48p. Today it turned out to be one of the best buy I ever did. They announced in the morning that they made a profit and they don’t need more money and the share went all the way to 88.70 a 73% gain in one day. Did I took profits? No. No? No. Why? because I think the share has more to gain. I target the 120 price but I know some people who look for the 150-160p.

Again I missed the GBP/USD my order level is still 13520 and it went down all the way to 13550 and then a huge jump to 13967… I don’t have luck with the GBP…

Another thing that I’ve made today was to go short on the Dax at 4332. This was a mistake. First I never followed the German market and I don’t know a thing about it. Second I didn’t have the right frame of mind to follow the trade. And third I didn’t set targets. So why I opened the position? because Paddypower has this nice tool on their homepage where you can see the balance between short and long that people are taking. So around 15:00 98% went long on the Dax. I thought 98% can’t be wrong and the RSI was at 82 level. I opened a position. 10 minutes after I was 40 points down. Now if you bet one or two pounds per point it is not that bad. But I was more than that and my profit from Barclays was at risk.

I’ve almost lost my temper and closed the position at lost. But I hold my nerves left the computer for 10 minutes and by the time I came back I was in the money. I closed the bet because I knew I didn’t have the time to monitor it. 10 points gain. Now I checked the Dax and I could made another 35 points… but lesson learned. Never opened a position on a market that you don’t know. And never use a stop loss on Index. It will cost you a lot!

By the way Paddypower spread on the Dax is just 1 point!

Hi all,

Paddypower the Irish spread betting platform is offering to a new clients that open an account a £75 credit free. All you need to do is to deposit £170 and make 4 trades by the end of the month. Then they will credit your account with £75. Not bad…so you have extra money to take more risk.

I really like Paddypower platform and I will review it soon.

Good luck!