If spreadbetting was legal where you are, would you do it?

Been spread betting for YEARS like 10++++ via FXCM until the new reg's and 20:1 index margin kicked in, currently Australian Broken ICMarkets, never had a FXCM issue at all, only 37 trades in with IC but so far all good and fine :)

In the UK so Tax free, yes please!!!

p.s. don't trust them to pay up / not vanish so I only leave in the account, what I need to trade at $20 per pt ish and a buffer zone!!
 
tomorton said:
SB firms based in the UK have for a long time been obliged to run the financial services compensation scheme for their clients, so they have to segregate clients' deposits from their operating funds and the client is entitled to refunded deposited capital from the scheme if the firm goes bust. They also now have to have negative equity protection under EU-driven regulations.
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Didn't know that, thanks!
 
Sig said:
Didn't know that, thanks!
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But margin restricted recently, 30:1 fx 20:1 indexs, i trade indexes so off to ICMarkets and what ever matgin i want upto 500:1 i think, maybe 400: run at 200.

Lose those protections mind, damn regs.
 
see Tradenet.com...........cant sell on the ask or buy the bid, slow executions and lots of fees. What could go wrong?!
 
IAlwaysWin said:
Absolutely not! If the brokerage can set its own prices that aren't underlying then I completely understand why spread betting is illegal. It has that classic scam smell permeating from it.
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I should have added that SB is absolutely the wrong vehicle for day-trading. The spreads and price biases are just too great, and the smaller the time-frame the worse these effects.

The successful SB-ers I have come across use it for long-term trades.
 
They stopped options and the comedy product- binary options. Spreads were just silly. Most trades are netted off, most punters think the market is always going up, and the SB companies make a bundle. I still keep an IG account and wished I'd had the binary on Brexit at 18 and Trump also about 18 I recall. (Binaries were at close either 0 or 100)
 
I wont becasue it is an OTC , market maker model, not an exchange traded product
Conflict of interest,
If there was a TRUE P to P betting exchange lie www.betfair.com then I would consider it
I believe people in UK do it only becasue of tax treatment! and ability to go short easily
 
Turveyd said:
But margin restricted recently, 30:1 fx 20:1 indexs, i trade indexes so off to ICMarkets and what ever matgin i want upto 500:1 i think, maybe 400: run at 200.

Lose those protections mind, damn regs.
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Those "Dam regs" keep many scrupulous operator at bay.. think Binary scams from Israel! one final day the govt had to take action becasue it was maligning countries name!
 
Turveyd said:
Been spread betting for YEARS like 10++++ via FXCM until the new reg's and 20:1 index margin kicked in, currently Australian Broken ICMarkets, never had a FXCM issue at all, only 37 trades in with IC but so far all good and fine :)

In the UK so Tax free, yes please!!!

p.s. don't trust them to pay up / not vanish so I only leave in the account, what I need to trade at $20 per pt ish and a buffer zone!!
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FXCM US was busted big way! Australian OTC brokers = no client money protection as compared to UK , check the fine print
 
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