Spread betting companies are in a buoyant mood. Business is booming as new clients across the UK and from overseas dip their toes into spread betting and contracts for difference (CFDs) in an attempt to profit from – for example – stock market moves, fluctuations in the dollar or movements in the oil price.

After a strong year in 2006, many are reporting business up substantially on last year with some saying they won more new clients in the first half of 2007 than they did in the whole of 2006. And with the European Union’s Markets in Financial Instruments Directive (Mifid) coming into force this November, many companies are gearing up to market their wares across Europe.