Escaping the ESMA ruling

Thirty9

Newbie
4 0
Has anyone found a broker who will not be subject to the new ESMA rules on leverage, will accept customers form the UK and allows spread bets (instead of just CFDs) on indices? I've investigated and contacted loads of brokers but none fit the criteria.
Thanks in advance.
 

jm1054

Junior member
42 12
I honestly don't think you'll find any spread betting outside of the UK.

The closest you'll get are non-EU brokers offering CFDs with high leverage, and of course any profits will be taxable.

One option is to move to non-EU CFDs, build up a large bank and then move back to spread betting once the tax becomes too unpleasant!
 
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Hoggums

Senior member
2,176 877
Get yourself classed as a professional client. Rules don't apply then. Talk to your broker to see what the qualification criteria are.
 

tomorton

Legendary member
7,250 969
Get yourself classed as a professional client. Rules don't apply then. Talk to your broker to see what the qualification criteria are.

Not a realistic option for me - my SB firm would want to see a £500k financial instruments portfolio. Jeez, if I had £500k in financial instruments I wouldn't waste my time spreadbetting.
 
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goodtyneguy

Active member
146 9
Anyone trade CFDs with any of IG 's branches outside of the ESMA's jurisdiction who is willing to share their experience?

They have prepared a webpage to compare their offerings.

Thanks
 

NVP

Legendary member
36,544 1,850
sunseeker has already offered good advice elsewhere on t2win...
 

mike.

Senior member
2,098 701
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gmca686

Active member
117 3
Like most retail SB punters, when I heard about ESMA I thought about getting around these "stupid" EU rules.
I have been SB trading for many years, but my account has never gone up consistently. It shoots up then it shoots back down again. Why!! Because I am not as good as I think I am. I am a natural counter trend trader, which can hurt. I can over trade. I can be confident that the market is wrong, until the pain gets too much. Stops are for wimps.
So having re-evaluated myself, I welcome ESMA. It is going to force me to apply discipline and sensible position size to my trades. Hopefully it will allow me to grow the account slowly but in a measured way because high leverage has certainly not helped. Time will tell.