Offshore Spreadbetting firms

[adrianallen99]

I have a friend in US who wants a spreadbetting account, but cannot open one in UK due to regulations and stuff.

Is there any spreadbet firms outside the UK?

He currently uses BOM, but wants something with more flexibilty.

Thanks

 

[volatileN]

I have a friend in US who wants a spreadbetting account, but cannot open one in UK due to regulations and stuff.

Is there any spreadbet firms outside the UK?

He currently uses BOM, but wants something with more flexibilty.

Thanks

Try www.xodds.com or www.otcoptions.com

They are owned by BOM but the product range is not the same.

 

[adrianallen99]

He already uses Xodds and was looking for something different, something more like the traditional spreadbetting firms in UK. Is there anything similar?

 

[anley]

No, and even if there was it's a UK resident tax law that makes them tax-free not the product themselves. For example even if he could open an account with say IG he'd still have to pay taxes on any profits.

The only option open to him is to get a trusted friend to open an account and then pass the profits on. Whoever does this for him should charge him at least 5% of profits. I would also not recommend wiring any profits to him in the US. He'd have to come and pick them up in cash. The IRS make the Inland Revenue look like your best friends.

 

[aussietrader]

offshore spreadbettingfirm

There is one offshore spreadbetting firm that I know of.

You can read more about them at www.gt247.com I have a mate in South Africa that uses them but have no experience with them myself.

As to whether they take US punters - who knows but might be worth a try.

Good Trading

AT

 

[Beach Runner]

Finspreads have an Italian site, which obviously is run under Italy's regulations. Or is it? Text is Italian but numbers are the same. Dear God, does that sound stupid? Yes. Anyway, not sure this helps, but it's:

www.finspreads.it