They are probably the NO.1 renowned regulated spankshop since Hoodless Brennan and Wills & Co just got closed down, along with a number of others such as Montegue Pitman. Working at an AIM brokerage like that will look **** on your CV, your much better off doing a middle office or back office...
Just look for a firm that offers DMA, with a similar commission system to CMC Markets. There are hundreds of firms out there and im sure some will offer exactly what you want. There is obviously a market for people who trade small amounts, and so firms cater for that.
There are two expemptions to stamp duty and they are if you are a market maker, or a broker dealer. However CFD's dont have stamp duty as you dont take actual ownership of the shares... It is just an agreement between you (the trader) and a regulated dealer for the difference between the opening...
Thats kind of what I thought, so thats what ill do. Got a couple of interviews lined up for next week. Ill make it clear that my eventual goal is to become a dealer (Prehaps after 6 months or so).
Thanks for your reply.
Hi all,
I am currently looking to gain employment within a spread betting and Contracts for difference firm (preferably within a junior dealing role). I have recently completed (self funded) my SII exams: FSA Financial Regualation, and Securities. My question really is if any of you have ideas...
Hi all,
I am currently looking to gain employment within a spread betting and Contracts for difference firm (preferably within a junior dealing role). I have recently completed (self funded) my SII exams: FSA Financial Regualation, and Securities. My question really is if any of you have ideas...
I believe now that just because the company is regulated, it doesnt mean that they are approved. Thus because their employees are not giving investment advice they do not need to be FSA approved.
Ok, thanks. Im still unclear about whether employees would need to become approved persons. i.e. take the relevant SII exams before dealing directly to their own client base.
Or is it reguarded as wholesale, and therefore not needed?
thanks...