As our spread bets and CFDs are not made on any exchange, the prices are set by us. Each contract constitutes a trade with us and is not transferrable to any other person.

As a result you may be exposed to the risk of our default. In this unlikely event we are members of the Financial Services Compensation Scheme, which in respect of a proven and eligible claim provides a retail client with protection of the first £85,000 of any claim.

Scalping is a trading strategy which is deemed an unacceptable practice if used to return profits by taking advantage of internet latencies, delayed prices or through high volumes of transactions targeting tick fluctuations (rather than price movements) where trades are opened and closed very quickly.

Such Scalping is considered a breach of our General Terms and Conditions

3.1 We will at all times deal with you in our capacity as your contracting counterparty.

7.2 When we enter into Transactions with you as counterparty, if you have an open long Transaction and enter into a short Transaction on the same Instrument, we may net your positions (unless you have selected a hedge button on our Platform)

(d) a Guaranteed Stop Loss Order which guarantees your Losses to a certain level specified in the Order, even if the market price falls to a level lower than that specified in your Order, if you have a buy position, or if the market rises to a level higher than that specified in your Order, if you have a sell position.

We execute CFD and spread bet trades with you on a principal to principal basis and deal with you as an arm’s length counterparty.