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This is a discussion on TwoWayFutures within the Brokerages forums, part of the Commercial category; Ok, I assume you mean 1lot traded 120 times a month. That would put you at 1/2 a pip per ...

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Old Oct 5, 2005, 8:32pm   #33
Joined Jun 2004
Ok, I assume you mean 1lot traded 120 times a month. That would put you at 1/2 a pip per side, so essentially a 2 pip spread all in all.

Regards

Adrian
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Old Oct 5, 2005, 8:59pm   #34
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klw started this thread Hi adrian -- Are you aware of anyone that has had a tax return audited in Great Britain and thier winnings from 2wayfutures spread bet of a future in Gibralter have been excludued as taxable income for taxation purposes?

Or conversely,has anyone complained that thier winnings from trading the above method were included as taxable income for taxation purposes?

Many thanks in anticipation ............
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Old Oct 5, 2005, 9:08pm   #35
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Great lengths have been gone to to ensure the tax free nature of our product. In a nutshell, a spreadbetting licence in Gibraltar has been acquired and under current UK legislation, profits arising from spreadbetting are tax free. Simple as that.

I would always recommend with anything like this though that if in doubt, please seek independant advice from your tax advisor.

Kind regards

Adrian
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Old Oct 7, 2005, 2:34pm   #36
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This beats any spread betting company!

Hi,

I was wondering if any of you trade with twowayfutures.com.? If you are a serious spreadbetter there is surely no comparison? This company deals straight into the futures market, you are quoted exactly what the price is on CBOT CME or any other leading exchange, you can see market depth and and trade as a scalper would i.e allowed to bid at the offer. It is basically futures trading but converted into a spreadbet so tax free. I spoke to them on the phone and they are extremely helpful, basically what happens is you place a trade with them as a spread bet, they place the exact same trade (to the tick) in the real market, so in effect you trade on their behalf, and they give you the winnings they make in the real market if you are right tax free, if you are wrong you pay them what they lost in the market from your own account. They make their money by adding slightly to the spread but it is minimal compared to what spreadbetting firms charge (we are talking less than one point comission)
Because you are basically trading futures the spreads are that of a futures contract 1point for dow for example.
I am joining these guys coming from trading spot FX but moving into futures, but i thought i'd let you know about this company also because it looks a great move for people currently spreadbetting.

tom

p.s although a spreadbetting firm in the eyes of the law this company is a futures trading company in every other way so its probably only suited to the more experienced trader that currently spreadbet at least £5 a point currently as minimum lot size of the futures market is rarely any smaller than this
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Old Oct 7, 2005, 2:43pm   #37
 
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Have you contacted the FSC in Gibraltar and asked them what protection is afforded to a UK account holder?

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Old Oct 7, 2005, 2:48pm   #38
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I haven't contacted FSC Gibralter, but i did speak to one of the people at twowayfutures and asked them several questions on how secure my funds are, they told me all funds are held in segregated accounts in Barclays London, this suggests UK security laws apply?
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Old Oct 7, 2005, 2:59pm   #39
 
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What if someone at twowayfutures acted illegally? (I'm not for one minute suggesting they would)
They are not regulated to hold client funds so the Investors Compensation Scheme wouldn't apply.

I've written to the FSC in Gibraltar and asked for some answers to various questions.

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Old Oct 7, 2005, 3:10pm   #40
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...and I don't like their requirement of min. 5000 GBP deposit... people would like to experiment first and would not want shift accounts of 15K+ straight to twoway w/o knowing regulatory status/ security/ platform etc...
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