Spreadbetting.

[TheBramble]

when i was on an SB desk (albeit a specialist desk within a firm) my client list was made up almost entirely of current and ex market professionals - sophisticated guys who knew exactly what they were doing, trading big size (for a retail environment) and making big money - tax free.

obviously there are the £2 of ftse guys who punt for a bit of fun, but are they really looking to day trade euribor? no.

I was very careful to qualify my specific target SB-er with "today's average SB punter". I’m guessing your (ex-) City lads represented a fairly small percentage of the overall client base and thus constitute “a very few”?

 

[shortsell]

@ kimo; cryptic...

just to be clear, my job was to look after big clients, and trade all of their business into the underlying at their direction. anything from nymex options through to spot fx, but predominantly equities. so i'm pretty familiar with most of the markets and services SB's offer, and it does make me chuckle when you hear people rattling on about the average SB punter.

what do you do for a living?

 

[shortsell]

I was very careful to qualify my specific target SB-er with "today's average SB punter". I’m guessing your (ex-) City lads represented a fairly small percentage of the overall client base and thus constitute “a very few”?

a small percentage of the number of clients, but not of the business...

the point i was making was really more that the smaller punters (most punters) are not going to be even looking at the markets tar mentioned, and more broadly, if you (not you personally, anyone) understand the product and approach it professionally, and are suitable for it, it can be whatever you want it to be.

if someone is trying to scalp euribor in £5 with a bookie they are beyond help anyway

 

[kimo'sabby]

@ kimo; cryptic...

just to be clear, my job was to look after big clients, and trade all of their business into the underlying at their direction. anything from nymex options through to spot fx, but predominantly equities. so i'm pretty familiar with most of the markets and services SB's offer, and it does make me chuckle when you hear people rattling on about the average SB punter.


So you never had to deal with the mucky street urchins at 2 quid ago? Lucky you, eh.

 

[shortsell]

you're obviously not actually interested in discussing anything so just go ahead an get it all off your chest - i'll leave you to it.

 

[kimo'sabby]

you're obviously not actually interested in discussing anything so just go ahead an get it all off your chest - i'll leave you to it.

Tah mate. C ya.

 

[TheBramble]

a small percentage of the number of clients, but not of the business...

Yes, I can imagine the relative weights were significant.

the point i was making was really more that the smaller punters (most punters) are not going to be even looking at the markets tar mentioned, and more broadly, if you (not you personally, anyone) understand the product and approach it professionally, and are suitable for it, it can be whatever you want it to be.

if someone is trying to scalp euribor in £5 with a bookie they are beyond help anyway

A fair point. It's been years since I've even looked at SB facilities and levels of service so perhaps a little research is required on my part.

 

[brettus]

Worst i have seen was bank of ireland bid €0.31 ask €0.32 what a joke lol

Although its rarely that bad

On like a 5p stock they might charge 0.5p spread... That's 10% of the value!

 

[brettus]

you're obviously not actually interested in discussing anything so just go ahead an get it all off your chest - i'll leave you to it.

I've found that equity guys in the spreadbetting environment have more of a clue about making money than the rest. Most guys on this forum would kill to have a job dealing with retail clients, or any sort of trading role.

 

[kimo'sabby]

I've found that equity guys in the spreadbetting environment have more of a clue about making money than the rest. Most guys on this forum would kill to have a job dealing with retail clients, or any sort of trading role.

Good point. What's more, it probably wouldn't be a commission only pay basis.

 

[brettus]

Good point. What's more, it probably wouldn't be a commission only pay basis.

It's better than discretionary bonus. Some of the highest paid people are purely on comms.

 

[kimo'sabby]

It's better than discretionary bonus. Some of the highest paid people are purely on comms.

'Some' being the operative word. In general comms only paid positions are like that for a good reason.

 

[rosehound]

'Some' being the operative word. In general comms only paid positions are like that for a good reason.

To motivate people to make money...

 

[kimo'sabby]

To motivate people to make money...

A salary works just as well...

 

[brettus]

'Some' being the operative word. In general comms only paid positions are like that for a good reason.

I see where you're coming from.

 

[rosehound]

A salary works just as well...

Well.... in my experience salaries really encourage laze/lack of ambition etc. in certain people, and given how hard it is to fire people in the UK think incentives can work very well. Saw your post in another thread about locals not being paid salaries..... out of interest what angle are you coming at this from?

 

[brettus]

Well.... in my experience salaries really encourage laze/lack of ambition etc. in certain people, and given how hard it is to fire people in the UK think incentives can work very well. Saw your post in another thread about locals not being paid salaries..... out of interest what angle are you coming at this from?

works both ways really.

 

[kimo'sabby]

works both ways really.

Not only that, but probably works better in the financial industry than in any other industry.