Spread Betting Abroad.

[Brex]

First day on T4W. Completely new to trading.

I live outside UK.
Is there any alternative to going back to UK, staying with a relative, being there to answer phone when SpreadBetCo phones, etc., in order to obtain a Spread Betting A/c?

regards, B.

 

[tomorton]

Why is spreadbetting your only access to the market?

 

[Aston1st]

First day on T4W. Completely new to trading.

I live outside UK.
Is there any alternative to going back to UK, staying with a relative, being there to answer phone when SpreadBetCo phones, etc., in order to obtain a Spread Betting A/c?

regards, B.

What is it your are looking to trade and what size account?
How many trades would you be making per month?
What type of service are you looking for:

• Execution only
  Advisory
  Discretionary

There are plenty of Spreading Firms that could accommodate your requirements

 

[Brex]

Reply

Why is spreadbetting your only access to the market?

I think it might not be. I have looked at CFDs through Singapore. I have just started investigating & am still looking for the answers to my initial questions as they arise. Thanks for your reply, what did you have in mind? Any thoughts much appreciated.

regards, B.

 

[Brex]

Ref Yr Comment

What is it your are looking to trade and what size account?
How many trades would you be making per month?
What type of service are you looking for:

• Execution only
  Advisory
  Discretionary

There are plenty of Spreading Firms that could accommodate your requirements

I expect to start small & slow with about a thousand pounds & a maximum exposure to each position of 3%. I would study the S&P500 & the DAX to start. This seems to indicate SB. Pse note my enquiry concerns the necessity of being in UK to get a SB account or not, if there is another way.

I would expect to make a trade a wkg day to start, subject to my finding good entry signals.

I don't know what a discretionary service is [pse explain].

These are my ideas so far I am retired & have time to work into it slow & careful.

Tks ur interest, any further thoughts appreciated.

regards, B.

 

[tomorton]

I think it might not be. I have looked at CFDs through Singapore. I have just started investigating & am still looking for the answers to my initial questions as they arise. Thanks for your reply, what did you have in mind? Any thoughts much appreciated.

regards, B.

Its more that SB is very limited to paticular jurisdictions whereas the rest of the world just uses a broker. Even where SB is available it can be treated unfavourably by regulators / tax authorities, you lose account protection / tax allowances, consumer credit protection etc.

Whoever you deal with make sure they have your full and up to date details.

 

[tar]

First day on T4W. Completely new to trading.

I live outside UK.
Is there any alternative to going back to UK, staying with a relative, being there to answer phone when SpreadBetCo phones, etc., in order to obtain a Spread Betting A/c?

regards, B.

You dont have to be in the UK to SB but your CC may be blocked from funding your SB account , it depends on your country laws . And you can trade small with CFDS take a look at FXpro-UK .

 

[tar]

BTW UKs FSCS protection covers CFD accounts as well not just SB ...

 

[kalott]

its only tax on profits with CFDs

https://leaprate.com/2015/11/inspec...f-ireland-finds-75-of-cfd-traders-lost-money/