Spread Betting broker for uk Non-residents

korzes

Newbie
1 0
Hi,
Im not located in UK, Im struggeling to find some descent Spread Betting broker , any idea which one ?
cheer
 

cantagril

Senior member
2,244 504
Am not sure that you're asking the right question - SB's main advantage over CFDs is in the UK's tax regime. It may well be that the Czech authorities (like the rest of Europe AFAIK) do not take the same view with regard to taxation. It is precisely because of the tax free aspect that some countries do not allow their citizens to undertake SB and where it is permitted, gains are taxable....rather undermining the perceived advantages.
 

ARBinstruktor

Junior member
13 1
There are several brokers offering financial spread bets to non UK residents. As their product ranges and Costs differ quite significantly, one has to check individually which fits best.

ETXcapital (they have forbidden me to arbitrage them any further)
SpreadCo (they offer interest on your balance)
SpreadEx (they might even offer you credit lines)
and
CityIndex which might match the product range of IG and CMC (which do not cater non UK residents) at best.
Most of them even offer referral Programmes.

As long as they are FCA regulated with Money insurance of 50k and Access to the Ombudsman, I do not care too much about the quality of the individual broker.

Ad Cantagril: the tax treatment is not the only advantage of a spread bet; spread bets can include a free currency hedge, and if you prefer to hold your positions for longer durations; most Forward/Futures contracts are offered as spread bets
 

cantagril

Senior member
2,244 504
Ad Cantagril: the tax treatment is not the only advantage of a spread bet; spread bets can include a free currency hedge, and if you prefer to hold your positions for longer durations; most Forward/Futures contracts are offered as spread bets
Indeed, and I specifically referred to fiscality as the main and not the sole advantage. You are of course completely correct about both the currency hedge possibilities (which, being heavily invested in €, is one of my principal reasons for trading EG) and the forward contracts as well.

I concentrated on the tax aspect simply because, the majority of European residents of my aquaintance are attracted by what they believe to be an opportunity for tax free income.
 

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