Potential mass exodus from Spreadbetters.

This is a discussion on Potential mass exodus from Spreadbetters. within the First Steps forums, part of the Reception category; The problem as i see it is if they go for an outright ban on CFD's, therefore that includes spread ...

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Old Jan 20, 2018, 6:19am   #33
Joined Jan 2014
The problem as i see it is if they go for an outright ban on CFD's, therefore that includes spread betting.


https://www.fca.org.uk/publication/c...w-findings.pdf
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Old Jan 20, 2018, 9:44am   #34
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Makes me feel poor not to have £442,000 in liquid assets and not to be part of the in crowd...

https://uk.webfg.com/news/news-and-a...--2774220.html
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Old Jan 20, 2018, 10:00am   #35
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Not that i mean that trading and gambling is the same thing

But why not do something about gambling if they (EU,UK) are so concerned about people losing money?

"The report by the Gambling Commission estimated that the number of British over-16s deemed to be problem gamblers had grown by a third in three years, suggesting that about 430,000 people suffer from a serious habit.

It also found evidence of an increase in addiction among those playing controversial fixed-odds betting terminals (FOBTs), which have been criticised for allowing betting shop customers to spend up to £100 every 20 seconds."

https://www.theguardian.com/society/...mission-report
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Old Jan 20, 2018, 10:07am   #36
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Simple answer and i'm not wanting to go off topic like most threads on here, so if someone loses £100 in a Bookies on a machine and that several hundred people a week do the same etc, that doesn't hit the news, what does hit the news is one Teacher losing £280,000 spread betting, nice big fat news headline.
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Old Jan 20, 2018, 10:25am   #37
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I maybe should use a tin foil hat

But i think there is more to this than meet the eye?

Maybe it has something to do with next bear market that are close and they dont want traders shorting with high leverage?

I know most of the CFD,SB never hits the real market but if 99% shorting (hedging stocks) someone needs to hedge i think?

The next step would probably be a ban on short shelling (starting in USA)?
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Old Jan 20, 2018, 10:56am   #38
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" the FCA said. It also intends to take "further action" against an unnamed CFD provider whose arrangements were particularly poor."

?

https://www.out-law.com/en/articles/...r-long-review/
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Old Jan 20, 2018, 12:26pm   #39
 
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ESMA Unfair

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¹The FCA Handbook designates contracts for difference, spread bets and certain ‘rolling spot’ FX contracts as types of ‘CFD’, which in turn are a type of derivative.
I suppose that makes it clear. I sent my reply to ESMA saying that SB is an affordable way for people to learn how to trade as many can't afford DMA. I said the proposal is essentially unfair.
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Old Jan 20, 2018, 12:50pm   #40
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Originally Posted by new_trader View Post
I suppose that makes it clear. I sent my reply to ESMA saying that SB is an affordable way for people to learn how to trade as many can't afford DMA. I said the proposal is essentially unfair.
Well done Sir.
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