markturner308
Newbie
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Hi
I've done some trading in the past but have just re-enabled my account with Finspreads.
With the state of the economy as it is my biggest concern with putting on a position is the risk that Finspreads were to go out of business.
I'm looking at taking a long gold position in GBP, they want 200 per point exposure, which unless my maths is wrong is over 40% of the equivalent physical cash position.
As the position I'm looking to put on is both quite large, and a long term trade I am concerned about how to manage the counterparty risk here.
Any thoughts on this, whether Finspreads is one of the safer ones (I believe part of City Index) and any other options on putting on this trade.
Spread betting appeals due to tax, low dealing costs (tight spread) and not having the worry about insuring a purchase of physical gold.
Thanks
Mark
I've done some trading in the past but have just re-enabled my account with Finspreads.
With the state of the economy as it is my biggest concern with putting on a position is the risk that Finspreads were to go out of business.
I'm looking at taking a long gold position in GBP, they want 200 per point exposure, which unless my maths is wrong is over 40% of the equivalent physical cash position.
As the position I'm looking to put on is both quite large, and a long term trade I am concerned about how to manage the counterparty risk here.
Any thoughts on this, whether Finspreads is one of the safer ones (I believe part of City Index) and any other options on putting on this trade.
Spread betting appeals due to tax, low dealing costs (tight spread) and not having the worry about insuring a purchase of physical gold.
Thanks
Mark
