Question for any BPT members that are UK residents : do any
members of BPT community trade the Spy Pro system signals from
the UK ? I have been for the last two years, and now understand
that a change in regulations (EEA) means that , as a UK resident, I
am no longer able to buy ETF's (SPY, UPRO & XIV) as from 4th
January this year. As you can appreciate, that is causing me a
major problem as I trade the SPY system via XIV exclusively. Has
any other BPT member in the UK encountered this problem, and if so,
have you been able to find a solution to trading the SPY Pro
signals from the UK. Any help would be appreciated.
Hi Peter, yes I find the new restrictions make trading more
complicated. For-example replicating the BPT SPY system trades -
yes it can be done via spread betting but that can be hard to
control because of the leverage available and the need for ultra
disciplined approach. Personally I don't like SB and of I'm not
sure what sort of protection is in place should the gods ever allow
the markets to tank.
Another possible solution is to trade the UCITS listed ETF's
such as IUSA (iShares S & P 500) and VUSA (Vanguard S & P
500). Others exists such as EQQQ, QQQS, CNX1, RTOW, SPX5. I'm yet
to find one that tracks the SPY. Best of luck.
hi there's also a euro hedge etf IUES so this
one hedge a dollar decline. if you compare both SPY and IUES, you
see they have been running the same only you don t have the dollar
decline ray
Hi Peter, I know its been suggested by others already but to add
to that I trade SPY and other ETFs from the UK via IG Index
(although other spread betters will make those markets too). They
make prices pretty much 24 hours a day from Sunday pm through late
Friday UK so you can always get on or off and they are tax free.
Not everyone fancies the risks of 100x leverage which you can
adjust for by just over equitising your account.
Thanks for your reply ghunt74. Based on my research of UK
spreadbetting companies, IG Index is the (demo) platform that I am
now testing and so far I am very impressed. Thanks again for the
recommendation, and best of luck with your trading :)
I'm from Belgium and so far we still can buy etf's such as gdx ,
jo, spy over here - however on another blog there was a norwegian
guy having the same problem in his country. On top of that he also
had an account in Holland where he couldn't buy those either.
I have an account in Holland as well as they told me the same
thing - no nugt - no jo - no spy
a friend of mine here in Belgium has an account with IB in
England and told me he still could buy them there - this is about 2
weeks ago
Many thanks for the information Ray. I will check wth IB in the
UK and see what they say. I have spent much of today
researching spread betting after
isplat's post, and that may well be the answer
moving forwards. It does offer a few advantages over buying XIV
directly (no tax, longer trading hours) so I am using my broker's
Demo Spread Betting platform to learn before "going live" !!
Very constructive reply isplat - many thanks for that
Spread betting is not something I am familar with (yet !!)
but I will start researching it now as a solution. Can you
recommend any geared instruments that I should look at as similar
to XIV ?
peterjennings71 - my apologies for the delay in replying.
IG Index is certainly a good choice. I live in Germany and use
CMC Markets as a CFD provider. CFDs allow me to go long or short
all the major indices, currency pairs, commoditiesand literally
thousands of company names all over the world (although a CFD is
not really the best way to trade individual shares IMO).
Spread betting is tax-free in the UK and Ireland only if you
trade either tiny volumes and/or very few trades per year. As soon
as the powers that be decide that you make a significant portion of
your income from trading you will have to pay tax, as far as I
know.
ghunt's point about playing with 100 x leverage is extremely
important: money management is absolutely crucial with this kind of
leverage, so you must over-equitise, or you may well wipe out your
entire account in the blink of an eye.
isplat - I appreciate your words of experience and wisdom. The
subject of leverage and margin are what I am studying now regarding
spread betting as I can see that there is a big difference between
buying shares and using margin to bet on pounds per points (a new
concept to me and hence the reason that I am using the demo account
to learn).
Thanks again to all who have replied to my post.
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Question for any BPT members
Posted by peterjennings71 on 31st of Jan 2018 at 03:44 am
Question for any BPT members that are UK residents : do any members of BPT community trade the Spy Pro system signals from the UK ? I have been for the last two years, and now understand that a change in regulations (EEA) means that , as a UK resident, I am no longer able to buy ETF's (SPY, UPRO & XIV) as from 4th January this year. As you can appreciate, that is causing me a major problem as I trade the SPY system via XIV exclusively. Has any other BPT member in the UK encountered this problem, and if so, have you been able to find a solution to trading the SPY Pro signals from the UK. Any help would be appreciated.
Hi Peter, yes I find
Posted by jamtoday on 1st of Feb 2018 at 01:33 pm
Hi Peter, yes I find the new restrictions make trading more complicated. For-example replicating the BPT SPY system trades - yes it can be done via spread betting but that can be hard to control because of the leverage available and the need for ultra disciplined approach. Personally I don't like SB and of I'm not sure what sort of protection is in place should the gods ever allow the markets to tank.
Another possible solution is to trade the UCITS listed ETF's such as IUSA (iShares S & P 500) and VUSA (Vanguard S & P 500). Others exists such as EQQQ, QQQS, CNX1, RTOW, SPX5. I'm yet to find one that tracks the SPY. Best of luck.
hi there's also a euro
Posted by raymuy on 1st of Feb 2018 at 03:27 pm
hi there's also a euro hedge etf IUES so this one hedge a dollar decline. if you compare both SPY and IUES, you see they have been running the same only you don t have the dollar decline ray
Sorry clarification - I'm yet
Posted by jamtoday on 1st of Feb 2018 at 02:11 pm
Sorry clarification - I'm yet to find an ETF that I can trade on US exchanges that tracks the SPY and qualifies under the new rules.
You can do it. Via
Posted by torvix on 1st of Feb 2018 at 02:15 pm
You can do it. Via ETFS.
Hi Peter, I know its
Posted by ghunt74 on 31st of Jan 2018 at 01:34 pm
Hi Peter, I know its been suggested by others already but to add to that I trade SPY and other ETFs from the UK via IG Index (although other spread betters will make those markets too). They make prices pretty much 24 hours a day from Sunday pm through late Friday UK so you can always get on or off and they are tax free. Not everyone fancies the risks of 100x leverage which you can adjust for by just over equitising your account.
Thanks for your reply ghunt74.
Posted by peterjennings71 on 1st of Feb 2018 at 09:06 am
Thanks for your reply ghunt74. Based on my research of UK spreadbetting companies, IG Index is the (demo) platform that I am now testing and so far I am very impressed. Thanks again for the recommendation, and best of luck with your trading :)
hi Peter, I'm from Belgium and
Posted by raymuy on 31st of Jan 2018 at 10:46 am
hi Peter,
I'm from Belgium and so far we still can buy etf's such as gdx , jo, spy over here - however on another blog there was a norwegian guy having the same problem in his country. On top of that he also had an account in Holland where he couldn't buy those either. I have an account in Holland as well as they told me the same thing - no nugt - no jo - no spy
a friend of mine here in Belgium has an account with IB in England and told me he still could buy them there - this is about 2 weeks ago
so that might be a solution - check with IB ?????
greetz - ray
Many thanks for the information
Posted by peterjennings71 on 31st of Jan 2018 at 12:08 pm
Many thanks for the information Ray. I will check wth IB in the UK and see what they say. I have spent much of today researching spread betting after isplat's post, and that may well be the answer moving forwards. It does offer a few advantages over buying XIV directly (no tax, longer trading hours) so I am using my broker's Demo Spread Betting platform to learn before "going live" !!
No. I dont think this
Posted by torvix on 31st of Jan 2018 at 09:21 am
No. I dont think this applies to CFDs, not sure.
I havent managed to make any money off spy pro yet, which is why I wanted to trade the es system but am not allowed to trade that either. stem
Why don't you open a
Posted by isplat on 31st of Jan 2018 at 05:12 am
Why don't you open a spread-betting account and trade the index (SPX or VIX, as you please) with a geared instrument?
Very constructive reply isplat -
Posted by peterjennings71 on 31st of Jan 2018 at 05:24 am
Very constructive reply isplat - many thanks for that Spread betting is not something I am familar with (yet !!) but I will start researching it now as a solution. Can you recommend any geared instruments that I should look at as similar to XIV ?
peterjennings71 - my apologies for
Posted by isplat on 1st of Feb 2018 at 10:28 am
peterjennings71 - my apologies for the delay in replying.
IG Index is certainly a good choice. I live in Germany and use CMC Markets as a CFD provider. CFDs allow me to go long or short all the major indices, currency pairs, commoditiesand literally thousands of company names all over the world (although a CFD is not really the best way to trade individual shares IMO).
Spread betting is tax-free in the UK and Ireland only if you trade either tiny volumes and/or very few trades per year. As soon as the powers that be decide that you make a significant portion of your income from trading you will have to pay tax, as far as I know.
ghunt's point about playing with 100 x leverage is extremely important: money management is absolutely crucial with this kind of leverage, so you must over-equitise, or you may well wipe out your entire account in the blink of an eye.
Best regards, and trade well!
isplat - I appreciate your
Posted by peterjennings71 on 1st of Feb 2018 at 10:40 am
isplat - I appreciate your words of experience and wisdom. The subject of leverage and margin are what I am studying now regarding spread betting as I can see that there is a big difference between buying shares and using margin to bet on pounds per points (a new concept to me and hence the reason that I am using the demo account to learn).
Thanks again to all who have replied to my post.