FX news: What the customer wants: Smart markets. Live
Smart Live Markets is the first broker to offer spread betting on the MetaTrader4 platform.
Retail is already saturated, so it might appear that new London-based brokers, Smart Live Markets, would have a difficult task setting themselves apart from other providers.
Not so. SLM is already ahead by becoming the first broker to offer spread betting on the MetaTrader4 platform.
James Parker, managing director, Jason Gibson, director of operations, and Paul Hare, director of trading, are the brains behind Smart Live Markets. Together, they have a distinguished pedigree: almost 50 years’ experience in the FX, CFD, futures and options and spread-betting markets at firms including ODL, RBS, City Index, Barclays and Crédit Agricole.
The three set up SLM in 2009, backed by some international funding.
They told theweeklyFiX that the first step was to figure out what potential customers wanted: “No one was offering spread betters what they had been asking for – spread betting on the Meta Trader platform, a large selection of markets with tight spreads, and a transparent financing policy.
“For too long some spread-betting providers have been hiding stealth charges under the guise of financing,” says Hare.
Smart Live Markets was granted full FSA licensing in February this year and launched in March with FX and contracts for difference before adding spread betting in April.
“Our global target market is retail and high-net-worth individuals to whom we offer over 120 currency pairs, CFDs, global indices, equities and commodities, plus spread betting on those equities, indices, currencies and commodities.
“Shortly, we will be launching Currenex and in the not too distant future we’re setting up a futures and options business,” says Gibson.
Hare says: “We have received numerous mentions on forums and we’ve had emails from clients saying how, finally, someone is giving the customers what they want, as well as looking after them – a rare commodity in these competitive times.”
Gibson adds: “We pride ourselves on promoting a high-quality, transparent and competitive dealing service so we do not charge commission on any of the products we offer – we are purely spread based. The price you see is the price you get.
“We offer leverage on FX from 200 times and we typically offer 20 times leverage on indices and equities.”
By starting the business from scratch, the group has been able to pick out the latest and best technology available, and although it is still early days, it has its sights firmly set on – according to its website at least – “aiming to be one of the biggest online derivative trading houses in the world.”
All with the customer in mind, naturally.