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'iSpreadBet' is a Spread Betting SIMULATOR app. It's purpose is to teach the basics of Spread Betting, by allowing the user to 'bet' on the price movements of 100 UK company shares with a 'virtual' sum of money. This means that the user can practise 'Spread Betting Trading' in a RISK-FREE environment.
The app takes a 'feed' of 100 UK company share prices. The prices are updated automatically every 60 seconds.
The app is initially loaded with £50,000 of virtual funds to enable trading to start straight away. Further funds may be purchased from the App Store if required.
The App enables the user to input 'Bid' and 'Offer' trades. The details of each individual trade can be displayed, showing the current P&L etc.. for that trade. For all open trades, the P&L will be updated automatically according to price movements. The aggregate P&L and overall 'account position' are also updated automatically and are shown on the 'Positions' screen. Trades will close automatically if the 'Stop Loss' price or 'Expiry Date' is reached. There is also the opportunity to close the trade manually prior to the 'Expiry Date' in order to take any profit or to mitigate losses.
Please note that this app should not be used for the purpose of making investment decisions.