City broker Collins Stewart has issued a positive review of WorldSpreads Group in its outlook on the company’s medium term share price, advising its clients to Buy WorldSpreads off the back of continued revenue growth in its recent half-yearly report.
After WorldSpreads posted strong results for the six months to 30 September, analysts across the City have acknowledged the spread betting broker as being in a strong position for further growth, with both increasing trade volumes and a swell in new accounts fuelling their expansion over the six month period.
With an ongoing marketing push targeting new traders and the increasing profile of spread betting fuelling organic growth in new accounts across the industry, WorldSpreads looks set to continue its strong performance over the second half of the year, with increased revenues driving underlying profitability when compared to last year’s results.
A publicly owned broker with offices across Europe and Asia, WorldSpreads recently introduced the market’s first zero point spread for spread betting clients, allowing qualifying traders to cut out the commission component altogether from trading on the WorldSpreads platform.
And with Capital Gains Tax in the UK set to effectively rise in the new year, wider industry outlooks for spread betting brokers are increasingly positive for organic growth.