New spread better in U.S.

[lucky711]

i've been using a demo spread betting account here in the U.S. i need advice on how to avoid restrictions and laws on spread betting from the United States. And also a good company to go threw for my real money account. Right now im using Capital spreads for the demo account.

 

[ffsear]

Im afriad you will find it very very hard! I worked at a spread betting company and evey time you log into a live account they make sure its a non US Ip adress that you log in from. If its a US IP your account is automatically suspended. Also when you open a live account you need to verify the application by calling the company from a non US landline.

Basically, its almost impossible to spreadbet from the US.

 

[lucky711]

are Canada restrictions and laws the same?

 

[dilesh23]

why? you planing to drive over the border everytime you open and close a trade ?

 

[timsk]

I can't believe, in this day and age, that there isn't some software out there that gets around the IP address problem? The phone call issue is easier to overcome, but it will necessitate entrusting someone in the U.K. to pretend to be you and may also mean giving them your account details. Have you family or (very good) friends this side of the pond that maybe willing to help you? Thereafter, you'll need a U.K. bank account to deposit / withdraw funds. All rather fiddly, tedious and boring but, nonetheless, doable I would have thought.
Tim.

 

[skelly22]

I can't believe, in this day and age, that there isn't some software out there that gets around the IP address problem? The phone call issue is easier to overcome, but it will necessitate entrusting someone in the U.K. to pretend to be you and may also mean giving them your account details. Have you family or (very good) friends this side of the pond that maybe willing to help you? Thereafter, you'll need a U.K. bank account to deposit / withdraw funds. All rather fiddly, tedious and boring but, nonetheless, doable I would have thought.
Tim.

There is:
You can use uk based web proxies based in the UK to fool whoever your trying to get around.

What would possibly work better would be a VPN tunnel. There are services out there where you pay a few dollars a month for these types of services.

If you have good friends or family in the UK you could use remote access through a pc based in the uk. this may cause a slow connection though.

methods such as above a frequently used to view bbc iplayer (as it is restricted to uk users only) so i'd say they should work for spread betting log ins unless they have specific procedures set up to block them.

Shane

 

[sask]

Im afriad you will find it very very hard! I worked at a spread betting company and evey time you log into a live account they make sure its a non US Ip adress that you log in from. If its a US IP your account is automatically suspended. Also when you open a live account you need to verify the application by calling the company from a non US landline.

If its a US IP your account is automatically suspended

Like one of us, mentioned...that it is possible to get around this (in the context of advancement of internet, It became possible, ages ago.). If you do some searching on google you can actually do it free of cost.

Also when you open a live account you need to verify the application by calling the company from a non US landline.

Again there some IP/VOIP telecom service providers how can get you a uk landline number.
For ex: you give them your US landline number, they would give you a UK landline number. So on the application you can put the UK landline number. So when the company rings the uk landline number, its your phone in US which rings.

And there are companies which can show a particular number that You ask to be displayed on caller id of the called party.

So this takes care of the privacy issues (of sharing your personal details with others), the SB needs a uk landline number, you have a UK landline number to make and receive calls.

You may also want to consider opening a off-shore account (in USD or GBP) at a bank in the UK. ex: See HSBC Offshore | Bank accounts, Savings, Investments, Premier Banking, Expat advice abroad

Basically, its almost impossible to spreadbet from the US.

For every "N" no. of rules, there are "N+1" ways to get around them. (Now don't bother to check how mathematically it is valid, as long as one can get the idea that every rule, potentially has a loophole)

 

[lucky711]

Thanks for the info and im going see what i can come up with. ill let you know how it works. if you have any more suggestions i would greatly appreciate it!!! i stll need a good company to bet thru

 

[SSINGH]

I have a normal UK account as I was born n bread in the UK, and am a british citizen.....

Does this mean that if I am travelling in the US, and I try to log in to open or close trades I will not be able to.....??

 

[ffsear]

Well I can only go on my experiance with Cantor Index, but yes. UK clients logging on in the US had their accounts suspended.

 

[ffsear]

For ex: you give them your US landline number, they would give you a UK landline number. So on the application you can put the UK landline number. So when the company rings the uk landline number, its your phone in US which rings.

We actually caught people doing this, We could straight away purely by the sound the ring tone makes when called, that it was not a UK landline.

Your best bet to have an active account in the US is to do the following.

1) Come to the UK
2) Open an account from here and get them to call a landline to verify your account.
3) Get someone back in the US to log onto your account and it will be suspended.
4) Ring them back up from a UK landline and tell them that you work for an American Company like AIG in London and that their networks go via New York (or somthing like that) - They should unblock your US ip and allow it to trade from it in the future.

a bit long ! but should work!

 

[dilesh23]

and when you say you work for AIG be prepared to hear them say "so you mean to say you work for the FED"

 

[campteamelite]

We actually caught people doing this, We could straight away purely by the sound the ring tone makes when called, that it was not a UK landline.

Your best bet to have an active account in the US is to do the following.

1) Come to the UK
2) Open an account from here and get them to call a landline to verify your account.
3) Get someone back in the US to log onto your account and it will be suspended.
4) Ring them back up from a UK landline and tell them that you work for an American Company like AIG in London and that their networks go via New York (or somthing like that) - They should unblock your US ip and allow it to trade from it in the future.

a bit long ! but should work!

Simpler Solution:
1. UK VPN provider to 'Tunnel' network access from US to a UK IP. It is VERY simple to run a VPN software each time prior to trading, such that all network connections (or connections of a specific program or web browser) are tunneled through to UK. ($80/year)
2. Gizmo5 or similar VOIP provider, UK incoming phone number that is redirected to phone of your choice. If they ask about the US ringtone, explain that you work for a US-based company and the cellphone they issued you is from ATT. ($35/year)
3. UK-based mail forwarding service if necessary. (Still researching - can someone comment on whether this is necessary?)

I have run through the IG Index registration process, and it appears that there is no citizenship verification in order to register from a UK address. Can someone confirm this please?

Also, how are deposits and credits handled with IG Index?? Can someone confirm that you can make deposits from a US based bank account??

Cheers,
JB

 

[elitejets]

sorry ...

Before you head for the border ... spread betting is not allowed here either!
Worse, I am a British Citizen living here and still not allowed.

Good Luck with your cunning plan ...
Nicola

are Canada restrictions and laws the same?

 

[Splitlink]

The trouble with getting around rules is that you have to be a bit bent, by nature, to do these things.

Spreadbetting companies are bookies and, by nature, pretty sharp at detecting something wrong. The aggro of getting your account frozen is very serious, if it's a lot of money. Where are you going to go to get it out? What you have done is illegal.

The only way to do it, in my opinion, is to get a friend to do it. Absolute trust is necessary, of course and what if he dies, suddenly?

Split

 

[lucky711]

Thanks guys and gals for the info. I think its a bit much, but isnt trading the e-mini dow futures here in the US similar to spread betting?

 

[bottomdollar]

If you have a UK phone with internet capability, you should be able to use the mobile platform to open and close your trades. Igindex have a mobile platform, not sure about the others.. I was able to login when I went to India!

 

[Stu0898]

i've been using a demo spread betting account here in the U.S. i need advice on how to avoid restrictions and laws on spread betting from the United States. And also a good company to go threw for my real money account. Right now im using Capital spreads for the demo account.

Hi lucky711

Until beginning full time trading I was an IT Security Analyst at a leading IT Security company based in The City and I know the actual workings of how the majority of spreadbetting companies check the location of their clients and how they go about blocking access from certain countries.

Hilariously, the systems they use are extremely rudimentary and can be easily circumnavigated by people who are not particulary technical and just do a few searches on the web to find out how.

The point is, is that these companies have a duty of care to make sure clients in the US are not allowed access and their rudementray protection techniques ticks this compliancy box and that is the only reason they do it and until someone penetrates this simple system and causes a problem big enough for the FSA to take notice they don't really care if anyone proxies in and connects from the US.

Your biggest problem, however is not physically connecting to their platform, it is convincing them of you being a UK or EU resident. You'd need an address, bank account, phone number, passport, utility bills, etc. If you can jump all these hurdles then perhaps you will be able to get a spread betting account, however, I'm not really sure if it's worth the hassle.

What are you wanting to trade/bet on by the way? There may be an alternative!