FxPro, a a major a UK- and Cyprus-regulated forex and CFD broker, has launched FxPro Edge – a spread betting platform for its UK clients.
According to the report of the trading news site LeapRate, the option is visible only to FxPro clients with a UK IP address.
On its site FxPro states that the service is commission-free and the broker adds a mark-up on the spread and swap fees are charged on overnight positions. FxPro Edge accounts are only offered in GBP.
Spread betting is fairly popular in the UK, where its winnings are tax-free. It is somewhat similar to trading in binary options and allows clients to bet on the up or down movement of an asset.
Earlier this week it was announced that FxPro has signed a three-year sponsorship deal with English Premier League football club Watford and its logo will feature on the players’ jerseys.
FxPro is an online broker regulated by by Cyprus’ Securities and Exchange Commission (CySEC) and UK’s Financial Conduct Authority (FCA). It offers complete services for all segments of the retail forex market, as well as trading with futures, indices, metals, shares, and contracts for difference (CFDs). It uses the trading platforms MetaTrader4, MetaTrader5, cTrader and its proprietary platform for social trading SuperTrader.