Frequently Asked Questions

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.

Capital Spreads offers 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@capitalspreads.com or +44 (0)20 7456 7020 .

Yes, you can nominate a family member or friend by completing a Power of Attorney form. Click here to download the Power of Attorney form.

If you have a friend that is interested in opening a Capital Spreads account we can offer you both a cash reward for the introduction. Once your friend's account has been opened and the terms and conditions below have been met, we will credit both accounts. Please contact us to claim your reward!

Please note the following about our Refer a Friend scheme:

1. To qualify for the Refer a Friend offer you must be a registered account holder of Capital Spreads.

2. You must have an existing personal/business relationship with the person you would like to refer and it is your understanding that they would be interested in receiving information about products provided by London Capital Group (LCG).

3. The referred friend must be a new user to Capital Spreads (not having previously held a Capital Spreads or other London Capital Group account) Accounts are opened subject to status, not all applicants will be successful in their application.

4. To qualify for the offer £250 must be deposited and five opening non equity trades must be made (for each referral) before receiving £100 credit to your spread betting account. Your friend must also deposit £250 and make at least five opening non equity trades.

5. The £100 cannot be withdrawn from the account for 3 months. The £100 can be used to offset debt to LCG however LCG will not be able to action a refund where the account balance is below the £100 credit. We will not be liable for any losses of more than £100 that you may incur as a result of trading with the £100.

6. The referral credit must be claimed within 1 month of the friend's account being activated.

7. Referrals to London Capital Group are limited to a maximum of 5 per live account holder and can only be used once when referring a friend to Capital Spreads. This means that if you have referred a friend to one LCG account, you cannot refer the same person again on another LCG account. If you would like to refer more friends please contact our Marketing Department to discuss a Marketing Agent Agreement marketing@capitalspreads.com.

8. Capital Spreads reserve the right to exclude you from this scheme if we believe you have tried to benefit from fraudulent activities or bets not made in good faith of the offer. Capital Spreads are not obliged to provide a reason for such exclusion.

9. Capital Spreads reserve the right to withdraw this promotion at any time.

10. You cannot refer yourself, a family member or a member of the same household.

11. This offer is not open to employees of Capital Spreads or employees of any other company engaged in direct competition with Capital Spreads.

12. This offer cannot be used in conjunction with any other account opening offer.

13. Once this has been completed you and your friend must email "> support@capitalspreads.com in order to claim your £100.

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 trade, you will need to review the Minimum IMR information, which can be found on the Market Information window (launched from the "I" button) 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.

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.

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 in the Payments section of the trading platform. Click on by clicking the Credit My Account button, then Continue and then Add Card. Alternatively, you can call the Customer Support team on +44 (0)20 7456 7020.

We accept all major debit and credit cards. We do not accept American Express and some International visa Electron cards.

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

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.

After you have registered your card once, you will not need to re-register this card unless your card expires or it is inactive for over 12 months.

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 Capital Spreads account number as a reference. 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 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:

All Currencies share the following details:

Account Name: London Capital Group T/as Capital Spreads

Swift Code: BARCGB22

Sort Code: 20-77-67

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

Deposit Currency	Account Number:	IBAN:
Sterling	70721778	GB40 BARC 2077 6770 7217 78
Euros	69703833	GB90 BARC 2077 6769 7038 33
US Dollars	75872800	GB76 BARC 2077 6775 8728 00
Norwegian Kroner	79371277	GB88 BARC 2077 6779 3712 77
Swedish Kroner	57189400	GB78 BARC 2077 6757 1894 00
Danish Kroner	48500722	GB78 BARC 2077 6748 5007 22
Hong Kong Dollar	76748655	GB09 BARC 2077 6776 7486 55
Australian Dollar	63910200	GB64 BARC 2077 6763 9102 00
SA Rand	45542466	GB86 BARC 2077 6745 5424 66

Please make your cheque payable to Capital Spreads and send it to Capital Spreads, 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.

To improve the security of the card payments you make into your spread betting account and following industry standards, we operate Verified by Visa & MasterCard® SecureCodeTM for some card types. These schemes, known collectively as 3D Secure, are designed to improve the way that your card payments are authenticated and to reduce the likelihood of card fraud.

If you have previously enrolled for these services with your bank and we require your card type to use 3D Secure, you will simply be prompted for your 3D Secure password when you next make a payment into your spread betting account.

If you have not yet enrolled in Verified by Visa or MasterCard® SecureCodeTM, you may be prompted by your bank to enrol before a payment can be made. This will be done quickly and securely on your bank's website before seamlessly bringing you back to the payment page to continue with your transaction.

Please be assured that when inputting your 3D Secure details you are communicating directly with your bank via a secure link. The information that you enter is not disclosed to London Capital Group. To complete your payment, you will be briefly redirected to a secure screen hosted by your card issuer.

If you would like a refund from your Capital Spreads 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 Capital Spreads 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, Capital Spreads reserve the right to refuse any refund under £50.00 (or the equivalent currency amount) unless you are closing your account. Please bear this in mind when requesting a refund.

Capital Spreads provides a variety of products to trade on between the hours of 23:00 on Sunday until 21.15pm on Friday (UK time). You can make your spread trades online or by telephone.

For guidance on how to trade using the Capital Spreads online trading platform, please use our online User Manual.

If you wish to trade by telephone, our dealing line is +44 (0)20 7456 7010. If you have any problems or questions, you can call our Customer Support team on +44 (0)20 7456 7020. Please refer to our Market Information Sheets for specific trading hours of individual products.

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

Spread betting

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 to see our Market Information Sheets: Market Information

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 to see our Market Information Sheets: Market Information

The Capital Spreads 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.

For full details of the trading hours of our markets please see the Market Information Sheets: Market Information

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 markets 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.

Your trade 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 position before it expires, you can close it manually in one of two ways. The simplest way is to click on the "Open Positions" button to view your open trade. 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 position by finding the original product that you traded, entering and equal stake size and then making a trade in the opposite direction. For example if you make a £5 buy to open, you will need to make a £5 sell 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.

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

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 contract, the dividend will have already been removed from the price quoted by Capital Spreads 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 contracts Capital Spreads will credit clients who have long (buy) position 80% of the value of the dividend and will debit to clients with short (sell) positions 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) position 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 contract, the dividend will have already been removed from the price quoted by Capital Spreads 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 contracts 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) positions and debit clients with short (sell) positions. This 'dividend' effect is paid using the same formula as for individual equity market.

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

All major indices quoted by Capital Spreads 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'. Capital Spreads will adjust the cash price of each index by its own fair value number each day. Capital Spreads links the Rolling Daily quote to the relevant future concerned and offsets the quote by the current fair value. Therefore the Rolling Daily price is moved by the futures price and not vice versa, this is because the underlying 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. Our 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 trade date until the expiry date and removing any dividends/capital repayments on those shares which go ex-div/make payments between the trade date and the expiry date.

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.

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 separate 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.

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 so if cable rallies 10 ticks, you will make 10 ticks whether the price you traded at was rounded up or down.

Our innovative Rolling Daily contracts provide a cost-effective solution for short-medium term trading. These contracts do not expire at the end of the day but are automatically 'rolled over' to the next trading day. Any corresponding orders are also rolled over automatically. An overnight financing rate is applied on a daily basis. The standard benefits of spread betting still apply, such as the ability to go long or short and tax free profits, as well as other benefits.

Tighter spreads

Available on indices, equities and FX markets

Cost-effective solution for short-medium term trading

Potential payment due to overnight financing

Automatic order rollover facility

Familiarity of trading underlying market but with benefits of futures-style trading

Rolling Daily contracts incur a debit or credit for each day that they are held overnight.

Whilst it is normal for equity and index long positions to incur a debit and for short positions to receive a credit when overnight financing is applied, there are times when you may be debited for a short position, for example when interest rates are very low (NB overnight financing for FX positions is different).

For a position held on a Friday or prior to a Capital Spreads non-business day, financing will be applied according to the number of days until the subsequent Capital Spreads business day.

For example, for a position that is rolled from a Friday to a Monday, financing will be applied for 3 days. Any profits/losses are realised when the position is closed.

The overnight financing for a rolling position can be calculated using this formula:

F =	[ (Price / U) x Stake x I] / B
F =	Overnight Financing
P =	Closing price
U =	Unit risk
S =	Stake

I = applicable interest rate:	long positions:	RFR + 2%
	short positions:	RFR - 2%

B = day basis (365)

Shares & Indices: The RFR is generally equivalent to the base rate of the underlying currency of the country of the market concerned. If you are long of a share/index contract, this equates to real market cash exposure and so interest may be charged on this cash value for each day that the position is held open overnight. If you are short of a share/index contract, an interest return may be paid on these equivalent cash funds.

E.g. the RFR for a short rolling daily contract on Google may be based on the US Fed Funds Rate minus 2%

Currencies: The RFR is calculated as the funding rate corresponding to the 2nd currency minus the funding rate corresponding to the 1st currency. E.g. the 1st currency of GBP/USD is sterling and the second is the US dollar. Therefore, if USD rates were 2% and GBP rates were 4.75% then the RFR for GPB/USD would be 2% - 4.75% or minus 2.75% (a negative differential)

For example, if the funding rates were as follows:

GBP:

4.75%

EUR:

2.0%

USD:

2.0%

The rates used for the examples above are indicative and are not necessarily representative of correct rates.The RFR of the following currency pairs would therefore be calculated as:

FX Pair		RFR
EUR/GBP	2.75%	(4.75% - 2.0%)
GBP/EUR	- 2.75%	(2.0% - 4.75%)
EUR/USD	0%	(2.0% - 2.0%)

Note: Remember to add 2% to the RFR for long positions and minus 2% for short positions

Unit risk:

The smallest movement on the relevant contract that equates to a profit/loss change that is the same as your stake. E.g. on GBP/USD a movement of 0.0001 in the price would mean a profit /loss shift on your trade of the full stake and so the unit risk would be 0.0001.

1. Shares

UK Shares

BUY £10 per point of a Rolling Daily

Unit risk	1	(4.75% + 2%)
Applicable interest rate	6.75%
Closing price	750.10p

A £10 long position which has a closing price of 750.10p would be equal to £7,501 market exposure (this equates your trade to the number of shares you would have to buy from your stockbroker to create the same market risk, a £10 trade = 1000 UK shares).

(750.10 / 1) x 10 x 6.75% = £506.32

This is the annual cost of borrowing £7,501 at 6.75%.

Divide this by 365 to reach the daily charge:
£506.32 / 365 = £1.39

As you are long of a share, your account would be debited £1.39 for the overnight funding.

US Shares

Unit risk	0.01	(2% + 2%)
Applicable interest rate	4%
Closing price	$26.49

[(26.49 / 0.01) x 10 x 4%] / 365 = £2.90
Your account would be debited £2.90 for the overnight financing.

2. Indices

UK Indices

SELL £10 of FTSE Rolling Daily

Unit risk	1	(4.75% - 2%)
Applicable interest rate	2.75%
Closing price	4722

[(4722 / 1) x 10 x 2.75%] / 365 = £3.56
Your account would be credited £3.56 as overnight financing.

US Indices

BUY £1 of Wall Street Rolling Daily

Unit risk	1	(2% + 2%)
Applicable interest rate	4%
Closing price	10350

[(10350 / 1) x 1 x 4%] /365 = £1.13
You are debited £1.13 for holding this position overnight.

3. Currencies

BUY £10 of GBP/USD Rolling Daily

Unit risk	0.0001	(2% - 4.75% + 2%)
Applicable interest rate	- 0.75%
Closing price	1.8550

[(1.8550 / 0.0001) x 10 x - 0.75%] / 365= -3.81
Your account would be credited £3.81 as overnight financing.

Normally, for a buy position you would be charged the overnight financing but because this calculation has returned a negative number, you will actually receive this amount.

SELL £5 of GBP/USD Rolling Daily

Unit risk	0.0001	(2% - 4.75% - 2%)
Applicable interest rate	- 4.75%
Closing price	1.8550

[(1.8550 / 0.0001) x 5 x -4.75%] / 365 = -12.07
Your account would be debited £12.07 as overnight financing.

Please note that as with the previous example of a long position, this has returned a negative number but in this case, as this is a sell position, instead of you receiving the money you will be paying it.

The rates used for the examples above are indicative and are not necessarily representative of correct rates.

1. Shares

UK Shares

BUY 1000 CFDs

Unit risk	1	(4.75% + 2%)
Applicable interest rate	6.75%
Closing price	750.10p

A 1000 CFD long position which has a closing price of 750.10p would be equal to £7,501 market exposure (this equates your trade to the number of shares you would have to buy from your stockbroker to create the same market risk, a 1000 CFD trade = 1000 UK shares).

750.10 x 1000 x 6.75% = 50,632p (£506.32)

This is the annual cost of borrowing £7,501 at 6.75%.

Divide this by 365 to reach the daily charge:
£506.32 / 365 = £1.39

As you are long of an share, your account would be debited £1.39 for the overnight funding.

US Shares

Unit risk	0.01	(2% + 2%)
Applicable interest rate	4%
Closing price	$26.49

[26.49 x 1000 x 4%] / 365 = $2.90
Your account would be debited $2.90 for the overnight financing.

2. Indices

UK Indices

SELL 10 CFDs of FTSE 100 Cash CFD

Unit risk	1	(4.75% - 2%)
Applicable interest rate	2.75%
Closing price	4722

[4722 x 10 x 2.75%] / 365 = £3.56
Your account would be credited £3.56 as overnight financing.

US Indices

BUY 1 CFD of Wall Street Cash CFD

Unit risk	1	(2% + 2%)
Applicable interest rate	4%
Closing price	10350

[10350 x 1 x 4%] / 365 = $1.13
You are debited £1.13 for holding this position overnight.

3. Currencies

BUY 10 CFDs of GBP/USD spot CFD

Unit risk	0.0001	(2% - 4.75% + 2%)
Applicable interest rate	- 0.75%
Closing price	1.8550

[(1.8550 / 0.0001) x 10 x - 0.75%] / 365= -3.81
Your account would be credited £3.81 as overnight financing.

Normally, for a buy position you would be charged the overnight financing but because this calculation has returned a negative number, you will actually receive this amount.

SELL 5 CFDs of GBP/USD spot CFD

Unit risk	0.0001	(2% - 4.75% - 2%)
Applicable interest rate	- 4.75%
Closing price	1.8550

[(1.8550 / 0.0001) x 5 x -4.75%] / 365 = -12.07
Your account would be debited £12.07 as overnight financing.

Please note that as with the previous example of a long position, this has returned a negative number but in this case, as this is a sell position, instead of you receiving the money you will be paying it.

The rates used for the examples above are indicative and are not necessarily representative of correct rates.

Capital Spreads 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, Capital Spreads will close the existing trade spread free (at just the market price) and offer the subsequent quarter at half of the spread. For indices, commodities and Forex contracts, Capital Spreads will close the trade at our midpoint and offer the subsequent quarter at the corresponding level. Please note that on rollover of futures contracts, the existing trade is closed, realising any profits or losses incurred and a new position is subsequently opened.

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@capitalspreads.com

Details of any open positions 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.

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.

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.

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.

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.

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

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

If you have a complaint, please contact our Customer Support team either by telephone on +44 (0)20 7456 7020 or via email to: support@capitalspreads.com. Alternatively, you may write to us with your
complaint to:

Customer Support
Capital Spreads
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 you are not satisfied with our response, you are entitled to contact the Financial Ombudsman for an independent view. You can access the FOS Leaflet at http://www.financial-ombudsman.org.uk/publications/consumer-leaflet.htm

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.

Below is a table of the major differences between spread betting and CFDs:

Spread betting	CFD trading
Capital gains are tax free*	Subject to Capital Gains Tax (CGT)*
Losses cannot be offset for CGT purposes*	Losses can be offset for CGT purposes*
All contracts expire	No expiry (except future contracts)
Use a currency to trade in of your choice	Currency based in country of origin i.e. if you trade Vodafone on the FTSE, you trade in £.  If you trade Google on NYSE, you trade in $
Trade using a stake of £/$/€ etc per point	Trade a number of CFDs per point

* Under current UK law, which is subject to change and may differ in jurisdictions outside the UK.

We do not charge any commission or minimum commission for CFD trading, but instead we apply a spread across all our markets (equities included), as detailed in the Market Information.

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

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

The Capital Spreads 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 7020 and we will be pleased to help.

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

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

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

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

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 7020 , and they will be happy to help.

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 Apple's new Safari Browser: http://www.apple.com/safari/download/

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 7020 .

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 'Internet Options' from the 'Tools' menu and then select the 'Privacy' tab. Finally, move the slider to the 'Medium'/'Low'/'Accept All Cookies' level.

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.

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 Capital Spreads 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 Capital Spreads 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.

The Capital Spreads 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.