Global trading platform AxiTrader, has launched tighter spreads on cash contracts for differences (CFDs), which, according to AxiTrader, will offer one of the most competitive pricing structures in the market.
CFDs allow traders to follow an asset price both up and down, with cash payments used for the differences in settlement, rather than physical goods or securities.
The low spreads and competitive financing, are available for cash CFD trades on the Standard & Poor's (S&P) 500 index and are available to AxiTrader’s UK customers.
Louis Cooper, global head of retail services at AxiTrader, said: “The S&P can be very volatile, as recent fluctuations have demonstrated. As such, there’s a huge advantage to being able to trade both long and short as a cash CFD, it allows traders to benefit from that volatility. That’s why we felt the time was right to launch our exceptionally competitive cash CFDs offering.”
He added: "Cash CFDs are particularly exciting for spread betting, as traders are at present exempt from paying taxes on their profits with these accounts. With some of the lowest financing fees available on the market today, traders are able to enjoy maximum returns from the cash CFDs."
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