City Index launches new product for day traders

City Index, a global leader in Spread Betting, Contracts for Differences (CFDs) and margined foreign exchange, today launches ‘Day Trades', a new product which will give 50% reduced margins and 20% lower spreads compared to standard City Index Equities spread bet products on its 20 leading LSE listed shares.

‘Day Trades' is specifically designed to appeal to day traders. It is a new spread betting product available to trade throughout the day from 08:00 and closed at market levels at 16:28 every trading day without the possibility to rollover the trade to the next day.

Joshua Raymond, Market Strategist at City Index, said: "Day Trades will provide a fast, reliable and value-added service to customers wishing to trade on an intra-day basis. The launch of Day Trades is a reflection of how we are increasing our range of products to cater for all client needs, whether they are long term, short term or day traders. We have found that day traders typically like to place multiple trades throughout the day and so by reducing our spreads and margin levels for specific day trade markets, we are reducing the typical trading costs a day trader would normally have to pay."