Spreadbetting firm MarketSpreads recorded a pre-tax loss of €709,213 in 2010 after making a €1m provision against the firm recovering debts owed by two former executive directors who diverted funds to another business.

Marketspreads — the spread-betting firm suspended from trading by the Central Bank last week — has been allowed release cash to clients.

Irish spread-betting firm Marketspreads has been ordered to cease trading by the Central Bank due to concern for clients’ accounts.

WORLDSPREADS, the financial spread betting and online share trading service, has reached agreement over the sale of its Irish division, for nearly €10 million, to some of its existing management team.