Spread Betting
Hi william, what is spread betting account?
From what I know spread betting is a british concept of cfd trading so I dont think that exists elsewhere..
William2050: I currently have a tax free spread betting account with IG UK with leverage of 30:1. UK and Europe seem to allow only leverage of up to 30:1, not more.
Does any other country have spread betting accounts apart from UK? the other ones I've seen are mostly CFD trading with high leverage and not Spread Betting.
I don't believe so!
The UK's Spread-Betting is mostly just a ploy to get around the UK's Tax Laws so that it it gets classified as "gambling" (tax-free) instead of "trading" (taxed) by essentially introducing a "middle-man" Dealing-Desk in front of the actual Market. This is something I learned about from a recent customer.
Most seasoned traders actually want and prefer Non Dealing Desk brokers because Dealing-Desk brokers can sometimes be quite "shady"!
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Hi,
I currently have a tax free spread betting account with IG UK with leverage of 30:1.
UK and Europe seem to allow only leverage of up to 30:1, not more.
Does any other country have spread betting accounts apart from UK? the other ones I've seen are mostly CFD trading with high leverage and not Spread Betting.