I've had experience with CFD's (and now I wouldn't touch them with my enemies money), and now after reading Reminiscences of a Stock Operator by Edwin Lefevre I find alot of similarities.
Limited Risk Accounts (with Guaranteed Stop Loss - GSL) act similarly to the type of margin used in those days, and the attitude of market makers (the crap spread etc for non DMA for getting out of a spread) in cashing in profits are the same attitude as the bucketshops of the 1890s.
I'd say things are worse now, bucketshops never charged nightly interest nor charged a fee for market data. And they did provide you a TAB type environment (with tea and coffee) to hang out in all day.
But both derive most of their income from the same source... Collecting your entire margin on a GSL when it hits the GSL limit. It is also ironic that GSL's are touted as a good thing and they charge a premium for this service!
Next thing they will try to sell is the ability to convert normal american style options to a knock out option for an extra 5%...
Does anyone see any similarities here or am I just cynical?