Funding Your Account

How much do I need to deposit?

We do not require you to deposit funds into your account until you wish to trade.

To calculate the minimum deposit required to open a bet, you will need to review the Minimum IMR information, which can be found on the Market Information ticket linked to each product. Please look at the Managing Account section of this document for more specific details on how to calculate your minimum deposit, or refer to the online User Manual.

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Depositing Funds

You can credit your account in a variety of ways which are detailed below. Please note that due to money laundering regulations enforced by the Financial Services Authority, we are unable to accept funds from any other source than the account holders own funds.

Deposit money by Debit/Credit card

You can deposit funds securely online or by telephone using a debit or credit card. There is a 2% charge for payments made by credit card. If you did not register a card when you opened your account, you can do so by clicking the Credit My Account button and then Add Card. Alternatively, you can call the Customer Support team on +44 (0)20 7456 7049 .

As a credit card customer you should be aware of changes to the way some credit card companies charge for online betting transactions. Gambling transactions, which have until now been treated in the same way as any other purchase, will be treated as cash advances by some credit card companies. Cash advances are usually subject to a higher rate of interest than standard transactions, so you should check the terms and conditions of your card carefully.

Registering your card details
If you enter your card details for the first time but do not make a payment, a pre-authorisation service will temporarily take 0.01p from your bank account and only appear on your bank account for a short time before dropping off.  This amount will never actually be removed from your bank.

Deposit money via Bank Transfer

You can deposit funds directly into our bank account by making a bank transfer from a bank account in your name- please ensure you use your full name and Finansbet account number as a reference. Please note that due to money laundering regulations, we cannot accept cash deposited into our bank account. Any funds credited in this way will not be added to your spreadbetting account and could result in significant delays on any refund. Please be aware that large deposits of cash into our accounts by any client may generate an enquiry to the relevant authorities.

Some international transfers will incur a fee charged by your bank or ours. Any charges will come out of the amount that you transfer and therefore we will only credit your spread betting account with the funds that we receive. We cannot be held accountable for any bank charges.

Our bank accounts are held at Barclays Bank, 1 Churchill Place, London, E14 5HP. The details of our bank accounts are below:

To make a deposit:

All Currencies share the following details:

Account Name: London Capital Group T/AS Finansbet

Swift Code: BARCGB22

Sort Code: 20-77-67

Please check the grid below for the relevant account number and IBAN.

Deposit Funds via Cheque

Please make your cheque payable to London Capital Group and send it to Finansbet , 12 Appold Street, London EC2A 2AW. We will not credit your account until your cheque has cleared. This usually takes 5 working days.

Unfortunately, we cannot accept banker’s drafts. If you are going to deposit funds using a building society cheque and it does not have your name on the cheque, we will need to see a receipt stamped by the building society to say that the money from that cheque came from an account in your name.

Cheques drawn on a bank outside of the UK can take up to 4-6 weeks to clear. Any commission charged by our bank, or yours, for processing an international cheque will come directly out of the funds from the cheque deposited and therefore only the funds credited to our bank account will be credited to your spread betting account.

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How do I arrange a refund

If you would like a refund from your Finansbet account, please call us or email us advising us of the amount you wish to receive and confirming the last 4 digits of the card you would like us to refund.

Our company policy states that any funds deposited must go back to the original source. For example, if you deposited funds using a card we would transfer your funds back to this card. Whilst we will action refunds as quickly as possible and normally the same business day, once the funds leave your Finansbet account the banking system usually takes up to 3 - 5 working days to return the funds back into your bank account.  In some rare cases the banking system might take longer to process your refund, so if this is the case please contact Customer Support.

Please note that MasterCard do not accept refunds from gaming organisations. If you deposit funds using a MasterCard we will make refunds to a bank account in your name, or to the default bank account details registered on your spread betting account. It is possible that we may require proof of your Bank Account details to establish that the account is in your name. This should be in the form of an original bank statement dated within the last three months. The statement should include your name, account number and, for international clients, an IBAN or Swift Code. We may also need sight of the card in question via faxed or scanned documentation.

If you are an international customer and you have used a MasterCard to credit your account or made an international transfer, there is a charge of £20 or the equivalent currency amount for refunds under £1000.00. For UK customers we would refund your money via BACS and this will take three working days with no charge.

Please note that due to transaction costs, Finansbet reserve the right to refuse any refund under £50.00 (or the equivalent currency amount) unless you are closing your account. Please bare this in mind when requesting a refund.

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Making a Bet

For guidance on how to make your spread bets using the Finansbet online trading platform, please use our online User Manual.

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How do I place a trade/make a bet?

Finansbet provides a variety of products to trade on between the hours of 23:00 on Sunday until 21:15 on Friday (UK time). You can make your bets online or by telephone.

For guidance on how to make your spread bets using the Finansbet online trading platform, please use our online User Manual.

If you wish to trade by telephone, our dealing line is +44 (0)20 7456 7048. If you have any problems or questions, you can call our Customer Support team on +44 (0)20 7456 7049 . Please refer to our Market Information sheets for specific trading hours of individual products.

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Will I be trading/betting on the prices I see online?

Once you’ve clicked the Trade button you will be offered the option to buy or sell. Once you have made your bet, it will be processed immediately. You should receive confirmation within a couple of seconds, or you will receive a message informing you that you bet has been declined. If the bet is declined, the reason why will also be displayed.

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What hours can I trade?

We are open for trading from Sunday 23:00 until Friday 21:15, UK time. You can find details of the trading hours for individual products if you click on the “I” information button to the right of each product or you can find a full, detailed list of all contract specifications if you click here: Market Information

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What products do you offer?

We offer a full range of products including Indices, shares, commodities, currencies, bonds and interest rates. You can find full details of the products we offer if you click here: Market Information

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24 hour Trading

The normal trading hours are Sunday 23:00 to Friday 21:15, UK time.  This means that our dealing desk is available around the clock.  Customer Support hours are 08:00 to 19:00 UK time.

We quote many of our markets overnight, in particular the FTSE, Wall St, Nikkei and other indices, FX and some commodities.  It is possible that you could have any orders filled during the time that we are quoting these markets.

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How much margin will the system take when I make my trade or if I move my stop?

When making a trade the system will look for three things.

1) If you only have the minimum funds available then the stop loss will automatically be generated at 80% of the minimum IMR (initial margin requirement). You can find the minimum IMR for all of our products on the market information.

2) If you have more funds than the max CGSL (computer generated stop level) for that market - the system will allocate the stop at 80% of the max CGSL for that product, leaving you with extra funds as available margin.

E.g. for FTSE Rolling Daily, the max CGSL is 150 so if you were trading £1 a point and you had £200 on your account, the system would only use up £150 as margin with your stop loss 120 points away. In this scenario, you would be left with £50 available margin to make other trades.

3) If you had more funds on your account than the minimum IMR but less than the max CGSL, the system will take all the funds on the account as margin and the stop will be calculated at 80% of these funds.

You can of course amend the automatic stop that is generated by clicking on "order book" and then on the "amend" button. Moving your stop in closer will free up your margin but the system will always charge you the min IMR for that trade regardless of how close you place your stop to your entry level. If you move your stop further away you will need enough margin to cover your stop. This can be calculated by multiplying the amount of points your stop loss is away from your entry level by a further 25%. For example if you have your stop 100 points away from your entry level, you will need £125 in your available margin to cover that particular stop.

Closing a Bet

How do I close my bet?

Your bet is valid until our market expiry time. Please see our Market Information sheets for last dealing times and settlement details of individual markets.

If you decide to close your bet before it expires, you can close your bet manually in one of two ways. The simplest way is to click on the “Open Positions” button to view your open bets. You will see a Close button on the right hand side. If you click this button, you will only be given one option either a buy or a sell i.e. an equal and opposite trade.

Alternatively, you can close your bet by finding the original product that you traded, entering and equal stake size and then making a bet in the opposite direction. For example if you make a £5 buy bet to open, you will need to make a £5 sell bet to close.

Your bet may also be closed if your automatic Stop-Level is hit or Limit Order is executed.

Any profits/losses incurred are realised upon the bet closure. Please refer to the online User Manual for guidance on how to manually close a bet.

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Can I partially close my position?

Yes, you can partially close a position. Please refer to the online User Manual for further details.

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Rolling Bets

What is a Rolling Daily Bet?

Rolling Daily Bets provide a cost-effective solution for short-medium term trading. These daily bets do not automatically expire at the end of the day, but will “rollover” into the next trading day. Any orders linked to Rolling Daily Bets will also be rolled. An overnight financing rate will be applied on a daily basis.

You can read more about Rolling Daily bets if you click here

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Can I roll my positions over?

For details of our Daily Rolling bets, please click here

Finansbet also offers the facility to rollover futures contracts. If you chose to roll any quarterly or monthly contracts, you will need to contact us shortly before our expiry date to leave a rollover instruction. For equities, Finansbet will expire the existing bet spread free (at just the market price) and offer the subsequent quarter at half of the spread. For indices, commodities and Forex contracts, Finansbet will expire the bet at our mid point and offer the subsequent quarter at the corresponding level. Please note that on rollover of futures contracts, the existing bet is closed, realising any profits or losses incurred and a new bet is subsequently opened.

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Managing your Positions

What happens when a share goes ex-dividend?

The morning after a share goes ex-div the price of the share will drop by the amount of the dividend (approximately). With a quarterly spread bet, the dividend will have already been removed from the price quoted by Finansbet so there will be no effect on the price quoted between the day before ex-div and the day after it. In the case of Rolling Daily bets Finansbet will credit clients who have long (buy) bets 80% of the value of the dividend and will debit to clients with short (sell) bets 100% of the dividend.

For example, if Lloyds bank goes ex-div with a declared dividend of 7.5p, a client who was long (buy bet) of £10 a point would receive £10x7.5x80% or £60. A client who was short the same amount (i.e. £10 a point) in Lloyds would be debited with £75 (£10x7.5x100%)

Shares on the FTSE go ex-div on the open every Wednesday morning and generally, the value of the shares in question will go down. This has a direct affect on the FTSE which tends to fall to reflect the drop in prices as the individual shares equates to a weighting in the FTSE 100 Index. Although most shares go ex-div on Tuesday evening there will be individual situations when companies may make payments (whether dividend, return of capital etc) on days other than this. In these cases the relevant charge will be made on the day on which it takes effect.

With a quarterly spread bet, the dividend will have already been removed from the price quoted by Finansbet so there will be no effect on the price quoted between the day before ex-div and the day after it.

In the case of Rolling Daily bets on the indices, London Capital Group will make a dividend adjustment to clients' accounts as and when shares go ex-div. We credit clients who have long (buy) bets and debit clients with short (sell) bets. This ‘dividend’ effect is paid using the same formula as for individual equity bets.

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How are the Daily FTSE and Wall Street prices calculated?

This is a common question for SB companies as it does cause some confusion with clients.

All major indices quoted by Finansbet have a Futures market related to them (i.e. the FTSE 100 has the LIFFE FTSE Futures market). This Future trades at a price which reflects the underlying market plus some adjustments. These adjustments are calculated from the theoretical value of dividends payable between today and the expiry of the Future AND the cost of carry for the index over the same period.

This Adjustment is called the 'Fair Value'. Finansbet will adjust the Daily Cash price of each index by it's own Fair Value number each day. Finansbet links the 'Daily Cash' quote to the relevant future concerned and offsets the quote by the current Fair Value. Therefore the Cash Daily price is moved by the Futures price and not vice versa, this is because the cash price is a lagging market indicator which does not react in a timely manner to market moving news.

For UK shares we price our bid using the underlying market bid and the offer from the underlying market offer. LCG’s spread is then added around the underlying market bid/offer to create ‘our quote’. On a day to day basis the difference between our bid and the underlying market bid will remain the same as will the difference between the offer prices. If the underlying market bid/ask spread widens/narrows then ‘our quote’ will widen/narrow with it.

We derive the future individual share prices (quarterly markets) by taking the underlying market price and adding the cost of carry from the bet date until the expiry date and removing any dividends/capital repayments on those shares which go ex-div/make payments between the bet date and the expiry date.

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How do we derive our FX prices?

We subscribe to a data feed which gives us the best bid and offer in the market from several major banks in any given currency pair. The best bid might be from one bank, and the best ask might be from another bank. We take the best of each (i.e. the highest bid and the lowest offer) and put our spread (which remains fixed) around this spread.

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Why are the prices I can see different to yours?

There is no single exchange on which all FX trades are transacted, and so there is never a single price at which you can say that a given currency pair is trading. Bank “A” might sell cable to Bank “B” at 1.7750, whilst at exactly the same time Bank “C” might sell cable to Bank “D” at 1.7755. Bank “A” may record its trades to a database to which Data Vendor “X” has access, whilst Bank “C” might record its trades on a seperate database to which Data Vendor “Y” has access. For this reason, it is highly possible for 2 different data vendors to be showing 2 different prices at exactly the same time in the same currency pair.

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On the FX, do we round up if the spread is 3?

No. If the market spread is 1, we add one to each side so that our spread is 3. And even if we did, the net result is irrelevant. Say, for example, we rounded up on a 3-tick spread. If you went long you'd pay that extra half a tick on the way in, but you'd gain it on the way out. Whether we rounded up or down, the spread is still 3 ticks! Plus, you are still exposed to the same currency price movements - if cable rallies 10 ticks, you will make 10 ticks whether the price you traded at was rounded up or down.

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Opening An Account

How do I open an account?

Accounts are subject to status, but to apply for an account, please complete our online application form. This can be found as a link on the home page (Apply for an account). This should take no more than 10 minutes. You will be asked to select the type of currency you wish to trade in, so be sure that you select the currency you require. We then conduct an electronic check to confirm your identity and address.

If we are unable to electronically confirm your identity and address, we will require documentation in order to activate your account. If this is the case or if we require any additional information, we will send you an email with details of what we require.

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What type of account can I have?

Finansbet offer deposit accounts, which means that you can begin trading once you have deposited funds into your account.

If you would like to hold an account in another currency (Sterling/US Dollar/Euro) or if you are interested in holding a corporate account, please contact our customer support team: support@finansbet.com or +44 (0)20 7456 7049.

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Can somebody else trade on my account?

Yes, you can nominate a family member or friend by completing a Power of Attorney form. Please contact us for further details.

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Can I recommend a friend?

If you have a friend that is interested in opening a Finansbet account we can offer you a cash reward for the introduction. We will credit your Finansbet account with £50 once you and your friend have both funded your accounts with £250 or more and made at least 2 non equity bets. Please contact us to claim your reward! Please note the following about our Refer a Friend scheme:

You must have an existing personal/business relationship with the mentioned person and it is your understanding that your friend may be interested in receiving information about products provided by London Capital Group (LCG). Accounts are subject to status. Members must be at least 18 years old. Once a new LIVE spread betting account is open, £250 must be deposited and two non equity bets made before receiving £50 credit to the account. Please note, eligible bets for this offer exclude equity bets. The £50 cannot be withdrawn from the account for 3 months.
This offer is subject to fair use and abuse of this offer may result in credit being withheld. Finansbet reserves the right to withdraw this promotion at any time.
You are introducing friends to London Capital Group. Refer a friend referrals to London Capital Group are limited to a maximum of 5 per live account holder. This offer is not open to employees of Finansbet or employees of any other company engaged in direct competition with Finansbet.

Managing Your Account

How can I view my previous trades?

You can see details of the trades that you have made and that have been settled if you click on the Trade History section of your account.

This information will be held on your account for 3 months. If you require further details of all the trades you have made, please contact Customer Support at support@finansbet.com

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How can I view my Open Positions?

Details of any open bets can be found if you click on Open Positions. If you have more than one trade in the same product, please click the "I" button and this will give you a detailed breakdown of your position in this product.

The automatic Stop-Loss Order that is linked to your open position can be found if you click on the Order Book button. This section also holds details of any New Orders or Limit Orders.

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How do I change my contact info?

If a problem occurs on your account, it is important for us to be able to contact you. Please ensure that your email address is always up to date and, if necessary, please check to ensure that your inbox has not exceeded its limit. We send all contract notes via email and it is your responsibility to provide us with the correct contact details. Your contract notes are proof of the trades that you have made and if you have any kind of query we will ask you for copies of your contract notes.

If you move house, please contact Customer Support by email or telephone to advise us of your new address. If we are unable to confirm your new address electronically we will require some documentation, details of which will be provided at the time.

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How do I change my password?

If you wish to change your password, please call us and we will conduct a security check to confirm your identity and then generate an email with a temporary password. You can use this to log into your account and can then change your password to something more memorable. Your password will then be securely encrypted in our system.

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I've forgotten my username/password

If you have forgotten your username or password, please call us or if you are unable to do so, please email us. We will send you some information that will remind you of your username or password. We are unable to send passwords via email for security reasons.

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How do I monitor my account?

Log into your account and click on Account Summary. You will see details of the most recent closing trades you have conducted and details of any profit/loss.

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Do I get a contract note?

You will receive a contract note via email for each trade you make whether you trade online or by telephone.

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Will I receive a statement?

You can view your statement of account online once you have logged into your account.

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Other Questions

Software & Hardware Requirements

What type of PC supports your site?

Most modern PCs will run our interface successfully, but in order to achieve the best performance we recommend that you have at least 1.8Ghz Pentium IV(or equivalent) processor with 512MB of RAM. Other programs installed and running could affect the performance of the website.

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Is my software compatible with the Finansbet website?

We support PC platforms Windows 2000, XP and Vista.. We also support Apple Mac platforms.

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What facilities do I need to view the Finansbet site?

The Finansbet trading platform is available via HTML (the Internet) and therefore you do not need to download any additional software onto your computer. As a general rule we design our systems to work with most browsers on any system with any ISP (internet service provider) broadband connection.

You may need to upgrade some of the existing software on your machine and the information below will guide you through this process. If you have any questions, please call our Customer Support team us on +44 (0)20 7456 7049 and we will be pleased to help.

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How can I view your Live Prices?

The site requires Flash 9 or later. If you are unsure that you have Flash, or wish to check you have the latest version, you can download the latest version here: http://www.macromedia.com/support/flash/ts/documents/
test_version.htm

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What do I need to do to view your Charts?

If you wish to see our charts on the trading platform, you will need Java. You can download the latest version here: http://www.java.com/en/download/windows_automatic.jsp

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Which Internet browser should I use?

You can access the Finansbet website using the latest versions of the main browser, including Internet Explorer and Firefox.

However, if you attempt to access our site using an AOL browser, it is possible that you may experience problems logging into our site. We would recommend that you use one of the following browser connections which are available free of charge.

Click below to download the latest versions of these browsers for free:

Internet Explorer
Firefox
Safari

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Do I need to adjust my monitor/screen settings?

You will get the best results from our site if you set your screen resolution to a minimum of 1024 x 768 pixels. If you require assistance in doing this, please call our support team on +44 (0)20 7456 7049 , and they will be happy to help.

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Can I trade using an Apple Mac?

Our site is fully compatible with the Apple Mac. However, if you do experience problems with our website, we recommend upgrading to the latest version of Internet Explorer for Mac. Please be aware that, although Microsoft may continue to provide security and performance updates to the Internet Explorer for Mac, no major new releases are planned.

If you find that Internet Explorer for Mac does not work properly, please try using Apples new Safari Browser http://www.apple.com/safari/download/

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What about cookies?

Our interface uses Session Cookies, and these must be enabled before you can log in. "Cookies" are small amounts of data that a website can send to your web browser and store on your computer. Cookies do not contain personal information about you (unless you knowingly provide it). We use cookies to enhance navigation and the functionality of our website to securely verify your identity.

Please follow the instructions below to allow your browser to accept Session Cookies. If you have any questions, please call us on +44 (0)20 7456 7049 .

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Amending your cookie settings:

Depending on which browser you use, follow one of the appropriate set of instructions below:

Internet Explorer 7
Select 'Internet Options' from the 'Tools' menu and then select the 'Privacy' tab. Finally, choose 'Accept'/'Prompt' for 'First-party Cookies' and tick the 'Always allow session cookies' box.

Internet Explorer 8
Select the Privacy tab, set the slider to Medium, and press the OK button. Alternatively, select Privacy then Advanced and tick the boxes next to 'Override automatic cookie handling' and 'Always allow session cookies'.

Firefox
Select 'Options' from the 'Tools' menu and then select 'Privacy'. Finally, expand the 'Cookies' heading and tick the box for 'Allow Cookies'.

Safari
Select the Tools button on the top-right hand corner of the browser, then select 'Preferences'. Finally, select the 'Security' button, and then from the 'Accept cookies' section, choose 'Always'/'Only from sites I visit'.

Note: To find out which version of Internet Explorer you are using, click ‘Help’ and then ‘About Internet Explorer‘ on your browser menu.

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Firewalls

Although we have taken care to design the site to be compatible with the most popular firewall vendors, it is quite possible that specific firewall settings or configuration could limit your experience of the Finansbet website. If you are using a firewall and are not sure whether it is the cause of your problem, please email us with details of the type of firewall that you have. As a simple test, you could shut down your firewall for a few seconds while you reload the Finansbet site.

If you are still experiencing trouble, it is most likely that your firewall is not the root cause. If the problem is no longer evident, your firewall is most likely blocking/changing certain content. In this case, it would be a good idea to contact your firewall vendor for support.

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Mobile broadband access (using a laptop)

It is possible to access your account using mobile broadband (i.e. using a USB modem stick on a laptop), however the reliability of the connection is purely down to what mobile coverage you are receiving. For example, if you are accessing our website from your laptop using a USB modem whilst on a train, the coverage will continually be changing and your connection could be lost regularly.

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How secure is the Finansbet website?

The Finansbet website is protected by a Thawte verified certificate.  This means that any information that you provide is protected by a secure certificate provider, thus ensuring the security of the site. More information regarding Thawte can be viewed here: http://www.thwate.com

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Complaints Procedure

If you have a complaint, please contact our Customer Support team either by telephone on +44 (0)20 7456 7049 or via email to: support@finansbet.com. Alternatively, you may write to us with your complaint to:

Customer Support
Finansbet
12 Appold Street
London EC2A 2AW

Very often problems may arise as a result of misunderstandings and can be easily resolved by our Customer Services staff. However, we recognise that there may be occasions when you feel that our service has not met your expectations and you wish to raise this with us more formally.

In this case, please, contact our Compliance Officer, Mark Winton, either by email, in writing or by telephone.

Mark Winton
London Capital Group
12 Appold Street
London EC2A 2AW
Telephone: +44 (0)20 7456 7000
Email: compliance@londoncapitalgroup.com

If are not satisfied with our response, you are entitled to contact the Financial Ombudsman for an independent view.

Financial Ombudsman Service
South Quay Plaza
183 Marsh Wall
London E14 9SR
Telephone: 0845 080 1800
www.financial-ombudsman.org.uk

They will provide you with a form to complete with details of your complaint. To be eligible for the service, you will need to submit details of the complaint within six months of the date of our final response to you. Please note that the Financial Ombudsman Service can only consider complaints, which we have not been able to resolve to your satisfaction through our own internal procedures.

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