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Online spread betting and contracts for difference (CFDs) broker Financial Spreads said on Tuesday it has restarted its operations after suspension in July 2015.
The operations suspension was required due to structural changes. Last year Financial Spreads, then a trading name of Finsa Europe, decided to discontinue its relationship with partners and to do business on its own. However, it later decided to revive its cooperation with the company.
Currently, Financial Spreads is the trading name of Clear Investors, which acts as an appointed representative of Finsa Europe, which is regulated by the local financial watchdog, the Financial Conduct Authority (FCA).
The business restructuring strategy aimed to improve the regulation of the broker, according to the statement.
As part of the changes, Finanical Spreads has also heavily upgraded its trading platform. The platform has kept its interface, but it now features new trading offers, new advanced charting, a new pricing engine designed to reduce the number of trade rejections in fast moving markets. In addition it alos has other improvements such as netted margin when trades are hedged.
The platform is now available for mobile devices with iOS and Android operating systems, as well.
“[…] We’ve spent a lot of time working with Finsa on the new platform,” said Financial Spreads founder Adam Jepsen. “While there are a lot of improvements, it’s been particularly important to keep the familiar and user-friendly layout,” he added.
Financial Spreads ensures it managed to keep its clients comfortable and secure the return of their funds during the business closure period in mid-2015. According to Jespen, no client complaints were filed with the relevant regulator or ombudsman.
“Telling clients who were trading day-in day-out with Financial Spreads that we could not take any new trades was very difficult but it was also incredibly inconvenient for our clients,” the broker’s founder said. “All we could do to help clients was to ensure the swift return of their funds.”
Financial Spreads, based in London, offers spread betting and trading in CFDs on forex, stock indices, commodities, and shares of companies listed in the UK, the US, and Europe.
Source: Financial Spreads