(PRWEB) February 8, 2008
Paddy Power's new financial spread betting venture, paddypowertrader.com has seen a jump in trading during the most volatile week on the markets in the past 25 years. The Federal Reserve cut rates further in the US last week stirring world markets into action.
With volatility over the last two weeks triple that of an average January the market has been swinging wildly. However despite the rollercoaster movements spread bettors have been eager to catch a piece of the action. With 'short' trading in Spread Betting you can potentially make money if stock prices drop, unlike regular share trading where you can only make money if the price rises. It seems our spread bettors have been stimulated by the excitement in the markets," said Davin McAnaney, Commercial Manager of paddypowertrader.com.
Activity has spiked around times when the US Federal Reserve has been about to announce a rate change. Applications have also increased with more people eager to get involved. Though volatile markets such as these are difficult to predict we have seen many of our clients taking profits from the rapidly changing markets, although others have been on the wrong side of the trades." he said.
This interest rate cut of 0.5% by the US Federal Reserve has been the second in two weeks and has definitely captured the imagination of spread bettors. We are seeing a lot of people eager to get involved in financial spread betting even during these turbulent times." concluded McAnaney.
Michelle Daly - 01 404 5900 / 087 952 9050