Broker options/spreadbetting in the UK

[barney79]

Hi. I’m planning on opening a couple of demo accounts and was wondering is anyone has any thoughts on the best options for someone based in the UK. I have 3 questions:

• As I understand it, any gains from spreadbetting are exempt from taxation in the UK - does anyone know if this is in fact correct?

• Should I definitely be [I]spreadbetting[/I] forex if I’m in the UK (pros and cons)?

• Which are the best brokers offering a spreadbetting facility?

Thanks. Barney

[Rambo35]

Hi. I’m planning on opening a couple of demo accounts and was wondering is anyone has any thoughts on the best options for someone based in the UK. I have 3 questions:

• As I understand it, any gains from spreadbetting are exempt from taxation in the UK - does anyone know if this is in fact correct?

• Should I definitely be [I]spreadbetting[/I] forex if I’m in the UK (pros and cons)?

• Which are the best brokers offering a spreadbetting facility?

Thanks. Barney

I am answering to the best of my knowledge:

Yes, spread betting gains are tax free in the UK which is why spread betting forex makes sense if you are based in the UK. As far as the best broker, that is an individual choice.