Just seen a video from ukspreadbettting. ComIts starting to look like these 3 options/choices then :
1) put up the extra margin to cover reduction in leverage(down from 1:300 to 1:30) and continue spreadbetting with your UK broker as before with your funds in the safety of UK regulators.
2) Apply for an account like IG ,IC markets outside the EU, trade CFD's (no spreadbetting) on higher leverage e.g (1:500 forex..1:200 indices) on a smaller margin account and deal with the tax implications and also the fact its none uk regulated.
3) If you meet the criteria then apply for professional status.
Any other options then feel free to add...
Apparently to be a professional trader you only need 2 out of the 3 rules to be classed as one
1)more than 10 trades per quarter
2)portfolio greater than 500k
3)works in financial services
I think I might be able to be classed as a pro trader given that I have 20 years exposure in the financial services industry.
Just co firmed this with my broker. Going to apply for professional status.