ProSpreads Free Trainer Demo Account

By mosesbet · Filed Under Uncategorized Comments Off on ProSpreads Free Trainer Demo Account 

ProSpreads was started in 2005 under the name FuturesBetting.com, however they have since moved to ProSpreads.com and are owned by the London Capital Group (the same organisation that runs Tradefair, Capital Spreads and is listed on the London Stock Exchange).

Unlike other spread betting companies, ProSpreads offers a DMA (Direct Market Access) platform which gives users greater functionality and tighter spreads.  All of the market prices on their platform are quoted directly from the underlying market instrument.  For example, gold prices are quoted in real time from the CME Exchange, whilst the FTSE 100 offer/bid prices are quoted by the LIFFE Exchange.

The DMA functionality not only gives users access to tighter spreads than most platforms (you can trade on the FTSE 100 from 0.5 point spreads here as opposed to 1 point spreads at Capital Spreads), but it also means orders are executed faster with less re-quotes.  When you open an order here through one-click, order ticket or ladder, it is processed within a fraction of a second, which is extremely useful for scalp, intraday and other short term traders.  You won’t find the same problems with requites here as you would at other sites.

ProSpreads Trainer Account

The ProSpreads Trainer account operates like a regular demo spread betting account.  Users are given £10,000 in virtual cash to trade with on the ProSpreds simulated platform.  The only difference is that certain products, such as the Russell 2000, are not available on the Trainer.

The advantage of setting up a free Trainer account is that it gives you 1 one week to try out ProSpreads unique DMA platform and become acquainted with its features. Unlike other spread betting platforms, ProSpreads is a bit more “fidgety” with far more customisable options and setting.  A video tutorial at ProSpreads helps explain how to use the platform’s customisable features, whilst you can also sign up to a one-on-one explanation of the ProSpreads platform at a certain date.

In order to open a free Trainer account at ProSpreads, you just need to visit the main ProSpreads website and then go to the “Platform” section or click on the Live Support icon for help.  This will take you to the sign-up page which requires your contact name, address, phone number and email.  Once you’ve done this you can practise trading on the DMA platform straight away, opening limit/stop-loss orders within the spreads themselves.

The benefits of opening a demo spread betting account in general are that they allow you to learn how to use the platform and practise trading without risking an of your own money.  Spread betting carries a great deal of risk for beginners so unless you know exactly what you’re doing I always recommend signing up to a demo account beforehand.  If you think you’ll need more than a week’s practice on a demo account than I recommend signing up to Capital Spreads’ demo account instead.  Here you get infinite time to practise on the demo, while at City Index you are limited to 2 weeks and at ProSpreads you only get 1 week (Capital Spreads also has a special £150 bonus for new depositors).

Secondly, every spread betting platform has slightly different features and menus which you’ll need to learn how to use.  For example, ProSpeads has a Direct Market Access platform which is significantly different to the regular platform you’ll commonly find at places such as City Index, Capital Spreads and World Spreads.  For starters, it has far more customisable options (a bit like an excel spread sheet) and the charts/training tools are found in different areas.

 

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