Online spread betting resource Independentinvestor.co.uk reviews the recent partnership between TD Waterhouse and Saxo Bank and LCG and its implications for their traders.
Online PR News – 12-June-2011 – – Spread betting brokers and executors have been looking at ways in which they can become better prepared to meet the exacting demands of their customers. The consistent increase in popularity of derivatives like cfds and financial spread betting has meant that service providers have to constantly work at making things easier for their customers. It is in this light that the announcement from TD Waterhouse should be seen. It signals the executor's intention to get into a position wherein they can offer a complete service to their customers as opposed to mere execution of trades.
Recent financial spread betting news has been discussing the negative effects, however a spokesperson from independentinvestor.co.uk believes that this move is a good one. "We recognize the fact that TD Waterhouse wishes to play a more significant role in the derivative business and their tie up with Saxo Bank and the London Capital Group is a major step in that direction. It is going to benefit their customers a great deal as they would now only have to deal with one service provider," he says. Earlier, traders had to deal with multiple service providers for their derivative trading and not many were comfortable with it.
TD Waterhouse has taken care of its regular and more frequent traders by offering them access to CFD, futures and foreign exchange through Saxo Bank and for financial spread betting through the London Capital Group. Traders would also be able to do mobile trading with the help of a free application that is compatible with the iPhone.
The spokesperson from independentinvestor.co.uk goes on to say, "The move is quite significant as it means breaking off with their partner City Index with whom they have been operating for the last eight years and their customers would now get the benefit of dealing with one of the top service providers in the business - the LCG. Though customers would have to go through some inconvenience initially for status check tests before they can set up their fresh accounts, they would be able to reap the advantages of easier trading and a more convenient system of operation."
The spokesperson from independentinvestor.co.uk also feels that LCG will also benefit a great deal from this partnership. "This is a major initiative taken by them to add to their white label business foray," he feels.
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