Spread betting company or broker

[millsy500]

Hi all

Can anyone help me out? I'm looking into doing end of day trading on uk stocks, nasdaq stocks and indices, holding a position maybe for a day to a week. What do you recomend spread bet company or broker? Any pointers would be greatly appreciated.

Many thanks in advance Millsy

 

[dr_d_michaelson]

There's one pointer that's probably more important than everything else put together, and that relates to your own tax situation. If you're going to make real money from however you do it, choose spread-betting because that way the profits are completely tax-free. Otherwise you'll have to pay Capital Gains Tax on them, as soon as they come to more than your CGT-free allowance. If this isn't an issue for you, then by all means weigh up all the pro's and con's of any other pointers that get mentioned to you in this thread or elsewhere, but compared with that one, they are all probably of little consequence. Direct access broker or SB firm are just 2 different ways of doing exactly the same thing: no more and no less.

 

[the blades]

Hi all

Can anyone help me out? I'm looking into doing end of day trading on uk stocks, nasdaq stocks and indices, holding a position maybe for a day to a week. What do you recomend spread bet company or broker? Any pointers would be greatly appreciated.

Many thanks in advance Millsy

Millsy

you may want to look at my thread "spread prices" on the spread betting board.

There's a spreadsheet attached showing my deals and associated costs, and a simple calculation you could use to work out the most cost effecient way for you.

As the Dr said, if you think you may exceed your CGT allowance in profits then you must factor in the tax free element of SB'ing.

UTB

 

[millsy500]

Cheers doc that sounds fair enough gonna check out utb's thread right now.

Thanks again Millsy