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The margins and spreads are identical. I have mine set to 500:1 leverage just like all my other accounts.
Identical to what account ? last time I looked at Alpari they had various accounts offering different spreads . .
There are Micro accounts and Classic accounts. The micro accounts can trade 0.01 lots min whilst the classic accounts can trade 0.10 lots min. The spreads are the same on these and the spread betting accounts.
The demo accounts have lower spreads (grrrrh!) These emulate the meta trader pro accounts (which from memory you need to trade in 3.0 lot minimum when using MT4 on a live Pro account)
This is the problem mentioned earlier. You can't use their demo account to test your spread betting account because it won't emulate it properly and you can then end up using wrong lotsizes.
NOTE: other spread betting accounts are available from other vendors :-)