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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Very constructive reply isplat -
Question for any BPT members that are UK residents : ...
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.