Yorkshire 'leads way' in spread betting

NEW research shows a major rise in spread bet traders in Leeds – and what’s more, they have a superior track record to the rest of Britain.

Clients in Leeds and the surrounding area performed 43 per cent better than the national average, according to financial spread betting company Capital Spreads.

Capital Spreads reported a 54 per cent increase in new traders from the Leeds area during 2009, while the average growth across the rest of the country was 32 per cent.

The rapid development in recent years of Leeds as a business centre is credited with playing a large part in the increasing financial acumen of the region.

Capital Spreads said that has led to its impressive trading performance and the growing popularity of trading the markets.

Head of Capital Spreads Simon Denham said: “The nation as a whole seems to be developing a growing awareness of the financial markets and Yorkshiremen seem to be leading the way.”

He added that Leeds has made great strides to become one of the most rapidly developing financial centres in Britain.

“The performance of our clients from the region certainly appears to reflect this,” he said.

“Our traders from Leeds seem to be very measured in their investment approach – far more so than is the average in the UK – and don’t make the mistake of taking large risks for the sake of a quick buck.”

He said that Leeds clients are more adept at mitigating losses.

“The surge in the popularity of financial spread trading in the region appears to be correlated to its successful performance,” he added.

Capital Spreads will host a “learn to spread bet” seminar on tomorrow at the Park Plaza Hotel, Boar Lane, in Leeds.

Spread betting allows traders to speculate on the movement of stocks and shares without using a stockbroker.

But it carries a high level of risk to traders’ capital. Traders are advised to bet only with money they can afford to lose. It is possible for traders to lose more than their initial deposit.

Capital Spreads offers prices on UK, European and US shares, world indices, commodities, foreign exchange and bonds.

Spread betting is currently tax free and many traders use it as an alternative to traditional share trading.