BAN SPREAD BETTING or independant regulation

[Lee Shepherd]

Is it not the case that cgt was reduced from 40% to 18% last april?

Not sure what it relates to ( I dont pay that either) but here is a link to HM rev &cust, you'll have to sieve through the relevant one to you.

 

[chilltrader]

...
As a 26 year old female ...

From that cute avatar, you look quite young to be 26

 

[robrees101]

Hi mate and welcome,

Your obviously new here and haven't followed any of my posts, live trades, blogs and account screenshots so it may look to you as though I do work for a spreadbet company. Those that do know me, know this not to be true (and theres many).

As for defending the industry, absolutely, I will.

Now, you play poker right, you say you do it for a living, therefore, you make money from it (if its for a living then I assume you do). Now imagine me going on about it in every post over the last year about how poker games are crap and you always lose money, imagine that I said as soon as you start to win they turn the tables on you and steal your money from you, imagine that I also rant in every post that you will never make money from poker as its all a scam, imagine every one of the posts that I wrote mentioned how bad poker was and that you'd have to be stupid to play the game cos you always lose money and its impossible to win.....but yet....I play poker myself but dont inform people unless questioned about it cos it showed up in an old previous post I'd forgotten about. p1ss you off right....maybe...maybe not.

For an industry that pays for my lifestyle, plus grows my savings account or retirement plan(whatever you wish to call it) plus grow my trading account and has done so for many years, I felt it only time to put this guy straight and tell him (and others) that in no shorter term that he is talking sh1t, ie, what he says is not true, I have the evidence, the screenshots and the live trades to prove this. MONEY CAN BE MADE FROM SPREADBETTING.

So, when I do this, he then is not happy with only constantly discrediting EVERY spreadbet firm but has since gone on to also include posts that have tried to discredit me. He has attempted to do this by saying that I work for them, therefore I have a motive to defend them. On this occassion it has worked for if ibex didn't inform you, you would have assumed that tom tom is correct. I assure you he is not and you are welcome to read through any of my posts or blogs and you'll see a different picture about me. Also, read through tom tom's post, almost every one is about slagging off spreadbet firms and dont use them cos they rip you off ect.....but.....he still uses them himself.....why???????

He is a hypocrite for this reason alone.

Be cool and have fun around the site of trade2win and learn who to listen to and who to ignore.

Happy trading.

Hi Lee,

Thanks for your reply. yes you are right I am new to this forum and to spreadbetting in general. A friend of mine mentioned it to me recently so I have been trying to research the whole area of spread betting as I'm interested in giving it a go.

The stuff i have read about spreadbetting firms up until now had just been the positives as published by some of the big players in the industry on their websites so I was interested to see some of the negative comments about the industry by members of this forum.

Apologies if i have initially got the wrong impression of your motives. And I'll no doubt be posting more newbie questions on here soon and I'll check out your previous posts for more info!

Cheers, Rob.

Oh by the way I wonder if you could clear this up for me. As I said I am a complete newbie to SB but i read this somewhere recently as wasnt exactly sure what it meant ...

'A number of the spread betting firms supply real time data for free for account holders, however this data is sometimes based on their prices rather than the underlying market'

What exactly is 'their prices' ??? I opened an account at Betfair recently and they have real time charts. I presumed these charts just displayed the real time data for the financial instrument i was looking at (brent crude) but if it is 'their prices' whatb exactly does it mean and how do they calculate these prices. I presumed the charts had to clearly reflect the true prices of the market, isnt this the whole point of sb?

Thanks in advance, Rob.

 

[TomTom]

Spread Betting Firms base there quotes/prices on the underlieing market, then take a view of where there clients postions are and ajust there quotes. In the industry this is called fair value. These prices / quotes will be bounced around the underliing market.
So Basicly on the whole the charts you see do reflect the underlieing market, however near highs/lows and cirtain times of the day these quotes/prices will be what is called scewred -/+ arounf the underlieing market.

To stop this from happening and if you want to trade the real market simply trade the real market and not SB.

For newbies, SB is an exelent way to learn this bussiness by trading £1 a point and some times 0.50p per point.

good luck with this business .

A word of advise, if possible attempt to get in contact with a expieanced trader and get some real time hands on expieance, it may cost you a few beers and a curry , may be even more, however by doing this alone you will be like a kitten in a wolves den .

TOMTOM......

 

[ibex666]

sb

An excellent way to learn the business especially if you are on a small budget! and youre a newbie.
nice to see tomtom agreeing with sb for a change instead of slagging. some people need to start somewhere and sb is a good way so long as tried tested backtested researched papertraded etc etc.:clap:

 

[TomTom]

Yes SB is a good way to start of.
However it is a costly way to do business after graduation

 

[ibex666]

sb tomtom

Yes SB is a good way to start of.
However it is a costly way to do business after graduation

Youve always got to find a negative havent you!!!!! thats why people have had enough of your mantra!
Please tell me how much you lost with cmc, cos its really eating you up, and youve got to get over it !!!!!!!!!!!

 

[gle101]

One quick question on DMA vs Spreadbetting. I see people comparing the transaction costs favourably for DMA and have no reason to question that. However is it not true that DMA trading attracts tax? If you are doing well then you can look at 40% of your profit being taken by HMRC can't you? So whilst you may be better off on an individual trade, if you are profitable DMA could actually be more expensive - could it not?

As far as SB companies go - IMO you need to realise that the market they quote is not "THE" market - but one they are making based on it. So the price you get will not be an exact fit as there will be some factor applied for their own risk. Sometimes it works for you - sometimes against. It's only a problem if you don't understand that.

If you are a constant winner, this might very well be the case. On the other hand, I would like to add to what Lee Shepherd already has mentioned. With trading the futures for example, if you lose out big one year, you can deduct losses against your tax returns. You get some of your losses back that way. In fact being a newbie, trading CFDs might be a very good choice to begin with, as you will probably be heavily in the red at the end of the first year. Of course, all this depends on the appropriate country's tax regulations.

The price feed that SBs provide today, reflect very accurately the movement of the underlying market. Otherwise it would be quite easy to make money arbitrating. The risk in trading SB exists definitely in the unreliability of execution (especially in a extremely volatile market) and lack of platform facilities. I regard SB to be a very good complement in my trading platform arsenal. In all leverage products one must be aware of the risk involved, whether it is SB,CFDs or DMA.

 

[riogordo]

Futuresbetting quote the actual market and no requotes.

 

[ffsear]

and dont supply charts!

 

[nineteen19]

Not wanting to sound like an employee of FuturesBetting (which I'm not!) I've been using their services for a couple of weeks now. I've placed 100's of orders through their system and it's been flawless - no requotes, fast (almost instantaneous) execution, very few technical problems. They automatically hedge directly into the underlying futures market - thereby giving, in effect, DMA without tax.

it seems a top quality service to me.

Great news...How has their platform been going since you posted?

Thanks

 

[A Dashing Blade]

and dont supply charts!

So shell out £100 odd pcm for ESignal.

 

[Rbarr]

Not moaning simply like to let newbies and others on the right path.

However many do praise these firms business tacktics.

Since 90% trading with Direct Accesss never been more happyer the other 10% SB purely used as a tool to capitalise on short time entry/exit limmit trades with SBs just to satisfy my personell feelings knowing that the ££ gained they would never get the chance to of set these postions resulting in making me very happy.

Has anyone tried trading on two separate computors with tow separate accounts ?
And noticed what happends ?

Try it and find out for your self, the results will speak for them selfs.

Then ask yourself if these companies need tighter regulation ..........

BORING.....

 

[Rbarr]

"Not moaning simply like to let newbies and others on the right path"

Don't like it? then don't use it...

I am a newbie but I certainly do not need your advice on this matter. I guess I can make my OWN mind up.

But thank you anyway... Now let me go back to SB where I make ALL MY MOOLLAH... and it is quite a nice chunk on a weekly basis, tax free of course. Not super greedy, dont need anymore than that