Financial Spread Betting
Opening an Account
Trading with Hoodless Brennan Markets
Order Types
A Financial Spread Bet allows an investor to bet on whether they believe that the price quoted for a particular financial instrument is likely to strengthen (go up in value) or to weaken (go down in value). The profit or loss for a Spread Better is determined by the difference in buy and sell price.
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Hoodless Brennan Markets offers over a thousand Spread Betting products including Equity Shares and Indices, Foreign Exchange, Treasuries and Commodities. For a full list of products available please click here.
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Yes, Spread Betting can be conducted over the telephone, although clients will generally find that trading over the internet is faster than telephone trading. There is, however, no penalty for trading over the telephone.
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Once your account has been set up, you can contact our payments department and authorise a funds transfer. Funds can be remitted either electronically straight into your account or you can be issued a cheque. Bank charges apply to some forms of payment.
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If you carry a Spread Bet Share position overnight, it incurs a financing cost. Finance is calculated on 100% of the value of the equivalent physical share position. It is calculated on a daily basis at market price. If you are long, you'll have to pay interest to Hoodless Brennan Markets; if you are short, you may receive interest from Hoodless Brennan Markets.
Financing is charged on any positions held overnight (positions open at 22.00 London time).
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Hoodless Brennan Markets utilises the Daily Rolling Cash® bet, a product designed for the more professional short-medium term investor. This daily bet allows Hoodless Brennan Markets to offer spreads that closely mirror the underlying daily cash price and do not include a fixed expiry.
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The minimum trade size across all spread betting products is £1 per point. The maximum trade size is dictated by the amount of funds you have in your account to use as margin and by the size available in the underlying market.
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For more information on how to to open an account online or request an account application form please click here, or contact a Sales Representative on 0800 279 9831.
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Any person resident in the UK or Ireland can open a Spread Betting account provided they are over 18 years of age.
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No, Hoodless Brennan Markets only offers deposit accounts.
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Yes, should you require a second account (sub-account) please contact our sales department on 0800 279 9831.
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Yes, to open a joint account you will need to complete an application form for each party and enclose a note, signed by both parties, stating that you require a joint account. The documentation required from each applicant is the same as that required for an individual account. To open an account online or request an account application form please click here.
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Providing we receive the correct documentation from you, your account should be up and running within a business day.
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Hoodless Brennan Markets is a trading name of CMC Spreadbet Plc, who is authorised and regulated by the Financial Services Authority. Your Spread Betting account will be with CMC Spreadbet Plc trading as Hoodless Brennan Markets.
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Hoodless Brennan Markets is a trading name of CMC Spreadbet Plc, who is authorised and regulated by the Financial Services Authority. Your Spread Betting account will be with CMC Spreadbet Plc trading as Hoodless Brennan Markets.
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- Should you have reason to complain, then it is important that at first you advise your usual contact at Hoodless Brennan Markets. Hoodless Brennan Markets' Helpdesk staff will be pleased to help, so please ask to speak to any of our representatives if you feel you have cause for complaint. Complaints will usually be resolved at this early stage.
- If your complaint is not resolved to your satisfaction in the first instance you will be able to refer the matter to our Compliance Department, in order for them to conduct their own investigation. A final response will be issued by Compliance.
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A Stop order is an order placed to limit the loss on an open position. It can also be used to enter the market at an inferior rate, allowing you to enter the market on a 'breakout' of the current trading range.
Example: You have bought (long) £1 a point ABC Corp at an opening price of 122p. You believe ABC Corp will strengthen however, want to limit your losses and place a Stop Loss order to sell (short) £1 a point ABC Corp at 110p, thus limiting your losses if ABC Corp falls to 110p or below. Stop orders are rarely offered when Share trading.
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A limit order is used to place either a closing trade to take a profit on an open position at a predefined rate set by you, or as an opening trade at a more favourable rate than the current price for that instrument. Limit orders are rarely offered when Share trading.
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Conditional orders (ie Limits / Stops) can be placed GTC, Good 'Til Cancelled. A GTC order means that the order you place will remain in the market until it is either executed according to the terms of that order, or is cancelled by you.
*Important Note: If you close a position, you must cancel any related orders you have placed against that position. Failure to do so will mean that the order remains in the market and at risk of execution.
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Yes, Controlled Risk Bets are a combination of a Market order (a buy or a sell) and a Guaranteed Stop. The trade must be designated a CRB at the outset of the trade, and there is an up front premium payable due to the guaranteed element of the transaction. For a full explanation please see our online dealing guide. Guaranteed Stops are rarely offered when Share trading.
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