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GKFX seems to have closed down its SB operation.

Thanks, twinj. Something to with margin as well, maybe?

I've been looking at the Spreadco site again and can't quite understand how the zero spread offer works. Why would anyone want to pay a spread if you don't have to?

Some things never change. As a veteran of WorldSpreads, I think zero spread is nothing but a gimmick, probably one of the few ways providers are allowed to tempt punters now. If it really was fixed zero spread with no delay then the '80% lose' stat would be dropping rapidly. I've sure all SBs...

...what broker house is going to advertise showing a grey man sitting at a desk looking bored Could also include bailiffs searching for goods to cover the debt.

IG feeling the pinch...

The sequel was even better.

I think the clever bit for IG was promoting SB as a way of punters making pots of money and not paying any tax, but of course that was seldom a factor in the real world.

It's the idiot punters who've landed the rest of us(!) with the new rules, probably killing off spreadbetting as we know it.:(

But surely (1) isn't or wasn't the case? You can lose more that £1k on a 1K account. That's partly the problem the new rules are supposed to address.

IG helpfully point out that 79% of their clients lose money. Wonder what the figure will be after a few months of 'safe' SPB?

It's a relief to know I'm not the only thicko around here:)

Had a look at IG's new offering but must admit I don't get it (after 20 years of SB-ing). Presumably, and if it works, other providers will be doing the same thing?

No tax on SB client profits because it is (or was) gambling, but providers have to pay tax on the money the SB-er has given away. Funny that Stuart Wheeler, who invented SB and donated lots ot money to the Cons party, will see part of IG's zillions eke away.

One of the perennial spreadbet questions was why income wasn't taxed, to which the answer was that the gov still exacted its cut from the SB providers' profits. If the rule changes stay I think 11 Downing St will be suffering, which might be a good reason for a U-turn. (Not on binaries, though!)