Can anyone recommend Spread betting company

blinko

Can anyone recommend Spread betting company,

im looking to start out and have no idea how to chose between them

thanks alot

slinga

Just watch Bloomberg TV channel 502 on Freesat.
So many ads on there it's really annoying.

But why anyone wants to do this sort of gambling truly amazes me.

jimjames

One I've heard of is IG Index

Just remember all the warnings and that you can lose far in excess of the stake you put in. At least with shares you are limited to only losing all the money you invested.

silver_4444_uk

Hi Slinga,

I appreciate your point of view.

However, if you trade in shares you have both capital gains tax and stamp duty to pay which eats into your profits.
If you spreadbet with shares you do not pay either capital gains tax or stamp duty.
I currently trade in shares and am paying both these taxes.

That's why I am interested in starting spreadbetting (with the extra risk involved) and avoiding these taxes.

Rgds.

Silver

Loughton_Monkey

jimjames wrote: »

One I've heard of is IG Index

Just remember all the warnings and that you can lose far in excess of the stake you put in. At least with shares you are limited to only losing all the money you invested.

Yes, they're different things (Shares and Spread Betting), but if used properly, and understood, you can get pretty much the same risks/benefits.

If you want 'day trading' then doing that in real shares is not viable. You have to resort to Spread Betting or CFD's, which also allow the advantages of 'shorting'. So (for example) you can actually perform some fairly 'unrisky' investing by, say, going long in Tesco and short in Sainsbury; you're not going to lose your shirt whichever way the market goes, but simply betting on Tesco outperforming Sainsbury over the term.

blinko

One I've heard of is IG Index

Just remember all the warnings and that you can lose far in excess of the stake you put in. At least with shares you are limited to only losing all the money you invested.

thanks b uddy to me it would be the same as i would have stop losses in place which would be the same as the shares if iheld them

Hi Slinga,

I appreciate your point of view.

However, if you trade in shares you have both capital gains tax and stamp duty to pay which eats into your profits.
If you spreadbet with shares you do not pay either capital gains tax or stamp duty.
I currently trade in shares and am paying both these taxes.

That's why I am interested in starting spreadbetting (with the extra risk involved) and avoiding these taxes.

Rgds.

Silver

thanks i am of the same view although i havent hit my cap gains threshold i plan to pay around with £200 and just starting off small but people like evil knievl make LOADSA money by spred betting and avoiding tax although again i emphasie a stop loss keeps gains and hopefully avoids massive losses

Yes, they're different things (Shares and Spread Betting), but if used properly, and understood, you can get pretty much the same risks/benefits.

If you want 'day trading' then doing that in real shares is not viable. You have to resort to Spread Betting or CFD's, which also allow the advantages of 'shorting'. So (for example) you can actually perform some fairly 'unrisky' investing by, say, going long in Tesco and short in Sainsbury; you're not going to lose your shirt whichever way the market goes, but simply betting on Tesco outperforming Sainsbury over the term.

thanks i would also like to be able to hedge and yes its similar to holding the actually share although i wouldnt want to day trade thats too risky for me im better at looking long term

thanks

pmorrison_2

I use IG Index as well, find it very easy to use and it also has a good iphone app if you have one!

blinko

ok i just signed up to tradefair so lets see how i get on

im only going to be doing small amounts so hopefully i can make af ew quid

agsnu

Unless you understand the impact of leverage you'll probably get wiped out by normal volatility.

smeagold

blinko wrote: »

ok i just signed up to tradefair so lets see how i get on

im only going to be doing small amounts so hopefully i can make af ew quid

may i ask what you intend to trade?

blinko

agsnu wrote: »

Unless you understand the impact of leverage you'll probably get wiped out by normal volatility.

I understand leverage and its not something i intend to use, i dont think i will get out done by volatility as i will be aware of teh assets i am trading plus my stops wil be wide enough hopefullly to avoid treeshakes as far as i am convered ibet on a share going up and if it goes up i win if it goes down i lose

may i ask what you intend to trade?

mid caps probably