Spread Betting Commodities

ATHELSTAN · Oct 12, 2003, 5:51pm

My inititiational posting...

Anyone know where I can spreadbet stuff like Nickel, Palladium, Copper etc.

I have had a good look round but can't find anyone who does it.

I'm keen to sell Nickel...asap

Thanks

Beach Runner · Oct 13, 2003, 5:43am

Athelstan,

'Financial Spreads' do copper, gold, palladium, platinum and silver (but not nickel). Their spreads are rather large - but that is no surprise. Good luck!

Andreas · Oct 13, 2003, 12:43pm

Colour me stupid, but what on earth is spread betting ??? I trade commodity futures now for something like 8 years. For that I have two commodity futures and options brokers I trade with. No betting involved there. You place your trades, you get your fills, you win or you lose, whatever your time frame is, that's it, period. Betting ??? Sorry I am lost here. You make it sound like some casino kind of thing. Commodity trading is a business, no more no less. Nothing to do with betting. Just analysis, be it right or wrong.

Skimbleshanks · Oct 13, 2003, 1:13pm

It's a peculiarity we have here in the UK. Instead of buying a contract, you are taking out a bet at whatever amount you choose per point move on the index. The spread betting company makes their money on the spread, and jiggles the price around when you want to exit to ensure they win, you lose. Something like that anyway.

The US chaps seem to think it odd too, and I know you're originally from the US. Just put it down to a British oddity!

oatman · Oct 13, 2003, 1:27pm

It's all about TAX

Trader333 · Oct 13, 2003, 1:31pm

Andreas,

There are some advantages to spreadbetting that are not available in trading futures. Most notabley the ability to trade at very low levels per point movement in a commodity future. The other advantage is that in the UK profits are free from tax. This has allowed many people who do not have the finance, or for other reasons, effectively trade. Some are very good at it and for position traders it is a very cost effective means to trade and make tax free money with relatively low risk levels.

Paul

Andreas · Oct 13, 2003, 11:05pm

Thank you all for the explanation, because until I came to this board I had never heard of it. I will do some more research into it ! That tax feature is definitely interesting.

Thanks again, and best regards,
Andreas

JonnyT · Oct 14, 2003, 2:03am

Hi Andreas,

You have to be a UK citizen and reside in the UK to benefit from the Tax Free status.

JonnyT

Oct 12, 2003, 5:51pm	#1
ATHELSTAN New Member Member Since Oct 2003 1 Posts	Spread Betting Commodities My inititiational posting... Anyone know where I can spreadbet stuff like Nickel, Palladium, Copper etc. I have had a good look round but can't find anyone who does it. I'm keen to sell Nickel...asap Thanks __________________ Stan

Oct 13, 2003, 5:43am	#2
Beach Runner Senior Member Member Since Aug 2003 128 Posts	Re: Spread Betting Commodities Athelstan, 'Financial Spreads' do copper, gold, palladium, platinum and silver (but not nickel). Their spreads are rather large - but that is no surprise. Good luck! __________________ "Don't tell my mother I trade futures. She thinks I play the piano in a whorehouse." (with apologies to Jacques Seguela)

Oct 13, 2003, 12:43pm	#3
Andreas Senior Member Member Since Aug 2003 109 Posts	Re: Spread Betting Commodities Colour me stupid, but what on earth is spread betting ??? I trade commodity futures now for something like 8 years. For that I have two commodity futures and options brokers I trade with. No betting involved there. You place your trades, you get your fills, you win or you lose, whatever your time frame is, that's it, period. Betting ??? Sorry I am lost here. You make it sound like some casino kind of thing. Commodity trading is a business, no more no less. Nothing to do with betting. Just analysis, be it right or wrong. __________________ Two roads diverged in a wood, and I took the one less traveled by, and that made all the difference.

Oct 13, 2003, 1:13pm	#4
Skimbleshanks Registered Member Since Nov 2000 2,327 Posts	Re: Spread Betting Commodities It's a peculiarity we have here in the UK. Instead of buying a contract, you are taking out a bet at whatever amount you choose per point move on the index. The spread betting company makes their money on the spread, and jiggles the price around when you want to exit to ensure they win, you lose. Something like that anyway. The US chaps seem to think it odd too, and I know you're originally from the US. Just put it down to a British oddity!

Oct 13, 2003, 1:27pm	#5
oatman Legendary Member Member Since Feb 2003 2,885 Posts	Re: Spread Betting Commodities It's all about TAX __________________ Every market has a bottom, every bottom has a hole in it.

Oct 13, 2003, 1:31pm	#6
Trader333 Content Editor Member Since Jan 2003 7,544 Posts	Re: Spread Betting Commodities Andreas, There are some advantages to spreadbetting that are not available in trading futures. Most notabley the ability to trade at very low levels per point movement in a commodity future. The other advantage is that in the UK profits are free from tax. This has allowed many people who do not have the finance, or for other reasons, effectively trade. Some are very good at it and for position traders it is a very cost effective means to trade and make tax free money with relatively low risk levels. Paul

Oct 13, 2003, 11:05pm	#7
Andreas Senior Member Member Since Aug 2003 109 Posts	Re: Spread Betting Commodities Thank you all for the explanation, because until I came to this board I had never heard of it. I will do some more research into it ! That tax feature is definitely interesting. Thanks again, and best regards, Andreas __________________ Two roads diverged in a wood, and I took the one less traveled by, and that made all the difference.

Oct 14, 2003, 2:03am	#8
JonnyT Legendary Member Member Since Dec 2001 2,569 Posts	Re: Spread Betting Commodities Hi Andreas, You have to be a UK citizen and reside in the UK to benefit from the Tax Free status. JonnyT __________________ Trading Mentor

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