Sorry if I appear to be being pedantic, but my thread "Fins rolling shares confusion" was closed after Mooms post which he hoped "cleared everything up". This implied therefore I was wrong in my initial assertion that Fins marketing was contradicting itself.
Mooms, I'm well aware of overnight financing charges, but this is nothing to do with the extra spread of 0.2%. Certainly not the way Fins have worded it on their website. And this is what I'm talking about. The difference between what they say, and reality.
Yes, they imply in their example that this is what the extra spread is for - but what if I don't hold overnight? The point is, a financing charge is exactly that, a charge added to the transaction. However, the extra spread is something completely different - as soon as I open a position, I'm incurring the cost of the extra spread, even if I close the position five minutes later, never mind holding overnight.
I hope that clears that up.
Mooms, I'm well aware of overnight financing charges, but this is nothing to do with the extra spread of 0.2%. Certainly not the way Fins have worded it on their website. And this is what I'm talking about. The difference between what they say, and reality.
Yes, they imply in their example that this is what the extra spread is for - but what if I don't hold overnight? The point is, a financing charge is exactly that, a charge added to the transaction. However, the extra spread is something completely different - as soon as I open a position, I'm incurring the cost of the extra spread, even if I close the position five minutes later, never mind holding overnight.
I hope that clears that up.
