Interactive Broker low fees vs Zero Tax Spreadbetting

G

GordyG

Hello,

Looking for the lowest costs and best vehicle for mostly trading the s&p 500 Index for 1 week to around 1 month trades, or max a few months in cases.
Located in Ireland.

Does the lower costs of say trading an S&P 500 ETF, on IB, not really count for much after you get hit with CGT on any profit?

You are not taxed on SpreadBets.

Thanks
 
Hello,

With Spreadbetting they charge a spread on top of the market spread. That's the fee.
Also there is interest on overnight funding.

For countries allowing spreadbetting, i still dont see anyway Interactive Brokers compete with that once you take away the tax after just a €1270 p a profit.
IB does offer CFD's iirc, but they are also taxed after a certain limit, so less attractive than spreadbets.

"How are ETF(s) taxed in Ireland? Since February 2023, ETFs are taxed in the following way: The gains from ETFs are taxable at 41% (taxed as income) Losses on funds cannot be written off against other capital gains"

"For Irish investors, ETFs are not the no-brainer they appear to be at first glance, because of high taxes and labyrinthine tax reporting requirements. When an investor buys an individual stock, they pay income tax on any dividend income and then CGT of 33pc if they sell up and make any profit above €1,270"
 
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