I'm making money trading now what? Sick of dodgy spread betting companies!

BennyC

Junior member
27 0
Hi,

Can anyone offer me some advise? I've been trading for three years now and have the capability to make a decent living from it. I Dont know where to put my money to make quick returns? I have a decent amount to deposit but its all the savings I have I don't want to lose it to some dodgy brokers. I Used to use spread betting companies but they can't be trusted. Any advice?
 

Trader333

Moderator
8,655 981
Well they are not a SB set up and are well priced and you are unlikely to have any of the issues that you get with SB.
 

tomorton

Legendary member
8,403 1,338
What problems have you had with SB firms? I traded with Finspreads for several years and Capital Spreads for years now. They have both been nothing but scrupulous.
 

BennyC

Junior member
27 0
What problems have you had with SB firms? I traded with Finspreads for several years and Capital Spreads for years now. They have both been nothing but scrupulous.


I used city index for around three years and they must've taken about 10k from me. But as soon as I started winning they wouldn't let me deposit money into my account anymore. It's also a peace of mind thing as well and I've heard some horror stories.
Anyone who trades profitably here what do you do? I'm tempted to set up 5 or so mini accounts and spread my money across, make my profits and leave, then move onto the next.
 

BennyC

Junior member
27 0
I used city index for around three years and they must've taken about 10k from me. But as soon as I started winning they wouldn't let me deposit money into my account anymore. It's also a peace of mind thing as well and I've heard some horror stories.
Anyone who trades profitably here what do you do? I'm tempted to set up 5 or so mini accounts and spread my money across, make my profits and leave, then move onto the next.



So what do the big traders do? Say if they've got an account size of 100k plus how'd they make their quick returns?
 

tomorton

Legendary member
8,403 1,338
Never heard of accounts being limited like that BennyC, thanks for the heads-up.
 

alexaherself

Established member
560 149
So what do the big traders do? Say if they've got an account size of 100k plus how'd they make their quick returns?

Some take Trader333's advice, above, and use somewhere like Interactive Brokers, the point being that if you do that, you're not counterparty trading (your broker can't hold the other side of your position, i.e. it's not their money you're winning, so they don't mind.)
 

BennyC

Junior member
27 0
Some take Trader333's advice, above, and use somewhere like Interactive Brokers, the point being that if you do that, you're not counterparty trading (your broker can't hold the other side of your position, i.e. it's not their money you're winning, so they don't mind.)

Am I right in thinking high risk alternatives like options and spread betting are not an option for individuals with a bit of money behind them?
 

Trading Spaces

Well-known member
375 17
I would second the Interactive Brokers recommendation. The IB universal account is a margin account so you can be long dividend paying stocks or a bond/bond etf in any country and then use the margin for trading futures or options. The commissions and margin interest rate are the lowest you will find though the margins are not exchange minimums/SPAN. You can also use the margin to refinance expensive credit card debt at very low rates.
 
 
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