Release Date: 27-07-2006

Finspreads, part of the market maker IFX, claims to have 15,000 clients on its books making one million trades a year.
Clients can join on-line or by downloading an application form from the website and as usual the account is set up on either a debit or credit basis.
A minimum of £100 is required in deposit accounts before trading can begin. Once up and running clients receive a weekly statement of all trades which have either closed or expired naturally.
As with most applications for a spread betting credit account, be prepared to contend with the necessary paperwork. Supporting documentation from other financial arrangements is required to prove you are worthy of operating such an arrangement.
Finspreads offers a solid array of financial markets on which to have a spread bet either on-line or over the phone.

The list includes: stock market indices (Footsie 100, mid 250, NYSE, Nasdaq etc); individual companies both domestic and overseas (including well known names on the Eurostoxx 50 such as Siemens, Nokia and Vivendi Universal); currencies; bond and interest rates and commodities (including London wheat and, more intriguingly, US lean hogs).
When clients make an initial application they also have the option of joining the Finspreads Trading Academy.
This is an eight week course which, Finspreads says, is intended to help clients get a better understanding of spread betting. During the period, course notes are sent to clients through the post on various aspects of trading.
Applicants who take up this offer are allowed to make the bulk of their trades at 1p per point online (rather than the usual 50p per point) through the learning period as a means of limiting initial risks. The offer does not cover FTSE 350 shares, however, where the minimum bet stands at £3 per point.
As a general rule, it's worth noting that Finspreads imposes a higher trading minimum for its telephone bets (£1 per point) compared with internet transactions (50p per point).
At the time of writing, Finspreads said that punters who open an account, place a deposit of £250 and then place two £1 trades are eligible to receive a free Swiss Victorinox watch worth £80.
On first glance, the Finspreads site appears a little spartan. But on drilling through the various sections there is actually ample information available to punters.
The 1p per point opening incentive will doubtless appeal to many first timers. Although as it's only an initial offer, potential customers must weigh up this benefit against how the site will cater for their individual punting requirements long-term.

Verdict: Cheap initial bets for would-be boffs who, if they take to the learning curve, will probably benefit in the long run.