Live trading attempt
- Thread starter rsd
- Start date
CFD spread is horrific.
It is impossible for the day traders to earn $$$.
So better trade from regulated brokers and regulated exchange.
People actually trade CFD's?
Yes, they do
They do have some merit for the new trader. You don't have to trade exchange sized contracts which means you can go as low as a $1/point. A great way to have skin in the game without alot of risk while you learn.
I remember in Oz for a period of time when we were banned from having margin accounts, cfd's were our only option LOL.
I remember in Oz for a period of time when we were banned from having margin accounts, cfd's were our only option LOL.
I don't see major issues with cfd's and IG market, specially for beginners.
In the UK even IBKR offers CFD and the spread on instruments like SPY is the same of the ETF.
There is an overnight cost which might be high but acceptable for short term trading.
If you are trading options then it might be different, no commissions but higher spread, no Greeks... Binaries years ago...
I know two people who are profitable with cfd's and one with IG, trading mostly spy and qqq.
Ig has been around for around 30yrs.
The lawsuits I see when I Google them are like:
"The claim will allege that a UK-backed financial services firm, IG Markets, consistently marketed complex CFDs to inexperienced investors and facilitated those investors to trade in CFDs without applying adequate checks and balances."
To me, that translate into: the broker allowed idiots to lose all of their money with little due diligence to make sure they knew what they were doing.
Spread Betting is tax free and commission free. The spread on eurusd might be 1 or 2 pip extra, but not big deal if you are not scalper or a day trader, and if you are a beginner or a casual swing trader, a pip is acceptable.
In the UK even IBKR offers CFD and the spread on instruments like SPY is the same of the ETF.
There is an overnight cost which might be high but acceptable for short term trading.
If you are trading options then it might be different, no commissions but higher spread, no Greeks... Binaries years ago...
I know two people who are profitable with cfd's and one with IG, trading mostly spy and qqq.
Ig has been around for around 30yrs.
The lawsuits I see when I Google them are like:
"The claim will allege that a UK-backed financial services firm, IG Markets, consistently marketed complex CFDs to inexperienced investors and facilitated those investors to trade in CFDs without applying adequate checks and balances."
To me, that translate into: the broker allowed idiots to lose all of their money with little due diligence to make sure they knew what they were doing.
Spread Betting is tax free and commission free. The spread on eurusd might be 1 or 2 pip extra, but not big deal if you are not scalper or a day trader, and if you are a beginner or a casual swing trader, a pip is acceptable.