spread betting for non uk residents

jaguar_23

Newbie
3 0
Hi

I am looking for a SB broker that is accepting non uk resididents. Preferrable it would be possible to deposit and withdraw funds with neteller. I am not intrested in fixed odds services like xodds.com. could anyone help me out?
 

drivethru

Newbie
4 0
I think that they will take foriegn clients but will require more personal info than with a UK client. Best thing would be to ring a few of them and ask!

In general it is down to the law as pertaining in the country that you are in. As you will be trading on line(most of the time) the SB company will have no idea as to where you are when you make the bet. You could quite easily be sitting on the beach in USA using your laptop the SB would not know, but you would be breaking the local laws in the US.
 

anley

Senior member
2,730 229
The whole benefit of a spread betting account is that you don't pay tax. In Sweden or other countries taxes might be applicable so this is critical information to find out first of all.

For example US residents have to pay taxes on even casino winnings therefore I doubt you'll find a US citizen with a spread betting account, even the ones living over here.
 

jaguar_23

Newbie
3 0
Spreadbetting have probably not been tested by a court in sweden, however are gains from gambling supposed to be taxed by the tax-laws the bookmaker is following as long it is inside EU. That doesnt matter that much because i will trade with quite small sums at and the tax-agency wont notice anyway. But there seems to be a lot of trouble setting an account up with the uk bookies, a lot of verifying and trouble transferring money. That is why i was hoping for a credible offshore company that takes e-cash but the only thing i came up with so far was xodds/betonmarkets. They offer spreadbetting but at a 10 point spread, that seems a little steep to me as the other SB companies charge like 4 points.
 

1kyle

Junior member
27 1
If you are not in the UK the company will be able to tell where you are operaing from --- without getting too computer "geeky" your IP address is available to the spread betting company when they accept your bet. From the IP address they can tell the country and hence whether or not they are breaking the law by accepting foreign countries. When you log on to the internet every computer has a unique IP address ( a number xxx.xxx.xxx.xxx) which is like a telephone number.

The chances are that they won't bother as it's the profits they want (as do we all) but don't assume that if you are using these services from a country that doesn't allow this type of operation that you can't be traced -- unfortunately you can be.
 
 
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