PaddyPowerTrader cuts spread on FTSE 100 as of mid day 14 April.

PaddyPowerTrader have become the latest spread betting provider to cut the spread on the FTSE 100.

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PaddyPowerTrader follow in the footsteps of spread betting giant IG Index who have recently cut their spread on the UKs most popular spread betting market.

PaddyPowerTrader announced that the decision to cut the spread on the FTSE 100 to 1 point comes into effect at mid day on 14 April.

While PaddyPowerTrader is a white label partner of London Capital Group they have told this publication that all decisions on spreads are made in-house.

The company says the decision to cut the spread on the FTSE 100 was a marketing one and offers insight into just how competitive the spread betting market in the UK has become.

In a message released this morning PaddyPowerTrader said:

"Let's get straight to the point. Paddy Power Trader has just cut the spread on their most popular market by 50%! That's right. Our spread on the FTSE 100 Rolling Daily has been reduced to just 1 point!"

IG Index recently announced a raft of spread cuts (with Daily FTSE 100 and Germany 30 now 1 point and Daily Wall Street down to 2 points).

A statement from IG Index said:

"Our latest spread cut is our biggest yet, and continues our commitment to provide outstanding value for money alongside quality service."

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