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Is this really an ES contract? or a micro version of it
It probably is close to the ES, meaning I'll bet it tracks it closely, but not exactly. I would watch out for the bid/ask spread growing during high volatility spikes, and possibly being larger than the normal ES spread (which is usually 1 tick, $12.50 per contract).
CFDs are just financial instruments. To offer UK CFDs (which could be on any global produt), you have to be FSA registered. This is not an unregulated market.
In Australia many CFDs are traded on the ASX, which puts it ahead of the UK in terms of transparency/regulation. Australian exchange traded CFDs have the same protection there as trading any futures market.
CFDs trading is in no way limited to retail traders, it is a huge market.
In terms of regulation, I'd put CFDs somewhere between Forex and Futures.
If you have any questions about the products or services provided, please send me a Private Message or use the futures.io " Ask Me Anything" thread
This is NOT a ES contract of course - most likely a CFD - Contract For Difference.
CFDs are very popular in Europe and in Asia. Volumes on the CFDs that follow
some bigger index are quite high too. The market is well regulated.
Though for US and Canadien citizens the CFD trading is forbidden.
In GB and some other countries Spread-betting is widely spread - looks to be
more gambling than trading and you are heavily depending on the broker's
seriousness. These micro-contracts are to be compared with the "real" futures
but they are quite expensive in the long run as the broker widens spreads heavily
when the market is moving fast.
Choosing a very big broker to trade CFDs gives better spreads, less slippage and
more gain over time. Interactive Brokers as example is widening the offer of CFDs
on many indices around the world. The name of a CFD is always given by the
broker - so "plus500" means a CFD following the actual ES index.