Twowayspreads goes into administration

I only used them a couple of times a few years ago - they seemed a bit of "tin-pot" operation so didn't bother again.



Dear Gin

Twowayspreads, a trading Name of Worldspreads Plc.

We regret to inform you that Worldspreads has been placed into administration following the discovery of an alleged accounting fraud.

The immediate consequence is that the firm has ceased all business for clients whilst the Administrators, KPMG, assess the financial position of the firm.

Please note: TMS Capital Ltd is a regulated company that is totally independent from Worldspreads. TMS Capital Ltd acts a 3rd party introducer to a number of spread bet providers.

TMS Capital can provide no more information than is freely available in the press, online and on Worldspread’s website, but our commitment is to provide support and assistance to all our clients over this difficult time. We would like to inform you that if the administrators are unable to recover enough funds to meet the balance on your account, you are eligible to submit a claim to the Financial Services Compensation Scheme, subject to their terms (http://www.fscs.org.uk/).

In the meantime we have had a number of requests by clients wishing to open an account with another broker.

We have made arrangements with ETX Capital for clients to establish new spread bet accounts. To open an account please click on the button below and submit your application. The process can take just 3 minutes.



The application is of course free and there is no obligation to trade.

If you would like to discuss any of the issues mentioned above, please call our offices on 0207 099 1138.

Yours sincerely,

TMS Capital