Brokers

sharpshooter

Newbie
8 0
Looking for suggestions on CFD brokers - looking for good service and somewhere safe (with more than the contents of my wallet on their balance sheet!). Use one at the mo but always looking for competition

Been trading Voda's - looking for 120 as a target (from a few months ago) which is looking like another bullseye for the sharpshooter
 

Robin

Junior member
33 0
CFD's or Spreadbet

Hi

Its safer to do SB than CFD's - upto 44K of your money in the SB pot is kept seperate from the co money so if it goes feet up your protected.

With CFD's your just another creditor.

Try CMC for either tho - smallest spreads by far.

Rob
 

sharpshooter

Newbie
8 0
Rob - puzzled by reply. can you explain what you meant and provide some facts. Whats with the 44k matey?

must say i prefer trading the actual screen price rather than the house spread !
 

Robin

Junior member
33 0
explain Rob

hi

I ment if the house goes bust - your cash is safer with SB even if its a firm that does cfd as well

FSA rules.

Rob
 

sharpshooter

Newbie
8 0
always the case where ever you put your money though - pick a big player backed by cash rather than a cheap and cheerful bucketshop. depends if your trying to trade or just want a financial bookies. I prefer the trading where the price i pay is whats on the screen.
 

neil

Legendary member
5,167 747
spread betting

Spread betting to make a profit is hard work. But when you find you can do so (Using pennies with Finspreads for example), why not try emini trading, QQQ's and US shares via an online broker like Intractive Brokers, or easy2trade(when they add US instruments to their list.

Spreads and commissions are smaller. You pay tax, but it is good to win enough to pay tax. Spreadbetting is not the way to go.

I do not know how CFD's compare but I reckon they have better profit potential than spreadbets.

If you use brokers trading software then beware of penalties if you do not make a certain number of trades a month.

Lastly, any brokers mentioned above are not exhaustive of the list of good brokers available. Do your own research and ask on this board for other brokers of whom I am not aware or have neglected to mention (It is late at night :)

Good luck and take your time

Toby
 
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