Applying For An Account
Now that you're ready, click here below to complete an account application and begin Sports Spread betting within minutes.
How do I apply for an account?
It couldn't be easier. Simply go to our online application form here which should only take a few minutes to complete. As an FCA regulated organisation, all account applications are subject to mandatory suitability checks before approval.
If you require any assistance in completing the application form please contact our Customer Services Team.
Do I need to provide any documentation?
We are able to process the majority of applications through electronic checking however in some instances we will request documents in the form of proof of identity and/or proof of address. This is most common in situations where the applicant has resided at their current address for a short period of time.
What types of account are available?
Sporting Index offers several possible account types combining either a credit account or a deposit account with either a 'Stop Loss' facility or with 'No Stop Loss' facility.
Credit or Deposit?
A credit account allows you to bet up to an agreed credit limit, settlement of which is determined at the commencement of the account (either weekly or every two weeks). Allocation of credit is subject to credit checking procedures and is solely at our discretion and may, if we deem necessary, be lowered from the level originally granted.
A deposit account requires pre-deposited funds in the account before you can place a bet. In general you will not be able to trade beyond the funds which are deposited in the account. However, due to the nature of spread betting, there may be occasions when the result of an event causes your account to show a negative balance. Under these circumstances the negative balance must be settled in full, immediately.
What is the difference between Stop Loss and No Stop Loss accounts?
Once you have decided whether a credit or debit account is more suitable, you can then choose between a 'Stop Loss' account and a 'No Stop Loss' account.
A Sporting Index Stop Loss account therefore offers you all the thrills of spread betting but with the added security of limiting risk. It is the chance to spread bet with a safety net which means:
• Small minimum stakes (from £0.05) allow you to enjoy spread betting with reduced potential financial downside.
• You will know the most you can expect to win or lose every time you place a bet. However note that this type of account does not absolutely guarantee that your losses will not exceed any sums that may be held on deposit, or any pre-allocated credit limit.
Stop Loss limits your exposure to losses (but also to profits because it acts identically as a Stop Win) by automatically applying a maximum level to the trades at the time the bet is struck. Effectively we are placing a pre-set limit on any profit or losses that may arise from any given bet.
The stop-loss level for any market is indicated on the screen at the time when the bet is being placed. For example, you may wish to sell a batsman's runs in a Test match at a price of 50 for £1. If the batsman goes on to score 200 runs, this would normally result in a loss of £150. However the stop-loss limit for this market is set at 100, so the most you would lose would be £100 (100 times the £1 stake). Of course this works both ways, so if you had bought the runs, the maximum profit you could make would be 100 times the £1 stake (£100).
If you open an account with No Stop Loss facility you will be able to place larger bets with greater potential winnings (and losses). More experienced spread bettors tend to choose this type of account.
Can I change account types once I join?
Should you wish to add or remove the stop-loss facility to your account, please contact our Customer Services Team with your account details. Please note that we treat each account on its individual merits so we cannot guarantee that we will be able to change the status of your account.
Do you accept applications from outside of the UK?
Yes we welcome applications from most countries around the world. In most instances both proof of identity and proof of address will be requested from applications outside of the United Kingdom.