What do you look for in a spread trading provider? Tight spreads, a convenient user interface, great customer service, and some online training. It doesn’t hurt if the company has been around for number of years too, just so there is a track record.
How does Delta Index scores on these points? Well, starting with the last one, Delta Index was founded more than 10 years ago in Ireland. Since that time it has developed its own custom trading platform, entered some European countries, started offering contracts for difference, and obtained regulation under the European Union, complying with the Markets in Financial Instruments Directive (MiFID).
On the topic of customer service, reports have been very good. In particular, it seems that unlike some other companies Delta Index make it comparatively simple to withdraw your winnings, putting a “Withdraw” button which actually works on the webpage. You can e-mail them your question, and a representative will call you back within a few hours.
Though while talking about hours, it has to be said that Delta Index is not as user-friendly as some other providers, as it is not open 24 hours per day. This can be frustrating if you have a bet, such as a currency trade, where you can see the exchange rate changing, but they are closed until the next working day. This can expose you to greater risk, if you cannot close your bet at your chosen stop loss level.
This doesn’t matter if you are betting on the daily trades, and if you are betting on futures, the daily fluctuations may not be so significant to you – however, when some of the competition are open 24 hours per day it might concern you.
The custom-built user interface, or trading screen, is clear and provides all the necessary information with a few clicks. It offers one click trading, streaming prices and comprehensive charting. There is a live newsfeed, so the trading platform has all the basics you could want. The only reservation is that Delta Index has a limited range of financial securities to spread bet on, compared to some other providers. With that said, there are 1400 different markets available, so you simply need to make sure that those you want are listed.
The spreads are decent, with one point spread on the FTSE and DAX, and two points on the currencies Euro/US dollar. You can only spread bet in Euros, which may put off some people but isn’t a big problem once you have funded your account. The default position of the automatically generated stop loss orders is a little wider than with some other spread betting companies, but this can always be adjusted.
So, Delta Index seems like a decent spread betting provider and may be worth a look. It offers a free demo account for you to try out the custom interface and see if you like it. The only possible reservations are that some of the spreads may be wider than with other companies, and that they may not have the financial instruments that you wish to bet on.