Spread Betting (UK Based)

Beginner Questions
21

Yeah Not us Hopefully,

i am a new trader so still trying to remember stuff got most stuff covered though.

Need more practice and time to myself ““KIDS””, ““MRS””, ““DOG””

Find the right accountant lol

22

You have got to be joking !

Uk “Accountants” are so “Compliant” they are not really accountants at all !

23

Hi Lukas,

Thanks for your reply!

I’ll take note of what you’ve said! :slight_smile:

Happy trading,
Alfie

1 Like
24

Spread betting v CFDs v share ISAs was something I looked at early on. I went with spot forex largely because it made more sense to me. And I figured that doing well enough that I needed to pay CGT - threshold is £11,300 this year - was the sort of problem I’d love to have. :smiley:

2 Likes
25

No

It depends on what your expectation of good is.

When interacting with the longer established firms, most of the time when you click buy or sell to enter a bet you’ll get what you intended, same deal when you click to exit.

Barring the usual software/hardware issues & events outside of the companies controls, most of the features work most of the time & if/when you should encounter a glitch or problem & you pick up the phone & speak to a rep you’ll get sorted without too much hassle provided you’re polite & respectful.

Whether you consider a particular firm good will be wholly based on the experience you encounter & to that end there are an awful lot of variables that influence a punters satisfaction expectations. Those will include but aren’t exclusive to their level of experience, style of execution, time/capital availability & objectives.

1 Like
26

Hi soultrain,

Thank you for your reply.

I will take note of that in my search for a broker :slight_smile:

Many thanks,
Alfie

27

Make sure you select a UK-based firm subject to FCA registration and regulation.

Important regulatory features would be segregation of clients’ deposited funds form company’s operating funds, and membership of the Financial Services Compensation Scheme (so that your account funds can be reimbursed if the firm goes bankrupt).

1 Like
28

To answer your original question, you might like to look at ETX Capital. They’re a UK broker who support spread betting. I have nothing to do with them other than being a happy customer, but have used them for years with no issues. Obviously don’t just take advice from a random chap on the internet, but it’s free to open an account so you can’t go far wrong taking a look around their site and then googling some independent reviews.

ST

1 Like
29

Hi Tommor,

Thanks for your reply.

I’ll keep that in mind when looking for a broker :slight_smile:

Happy trading,
Alfie

30

Hi Simon,

Thank you for your reply.

I’ll have a look at ETX Capital when I get the chance!

Many thanks,
Alfie

1 Like
31

Is that the one whose spread-betting arm used to be called “TradIndex”? (If so, they’d probably be my second choice, after LCG).

32

You a member of charted accountants…?

and i was being sarcastic anyway.
I do my own because i am my own Entity …:alien:

33

Yes, just googled it and apparently they were TradIndex until 2002. You learn something every day!

1 Like
34

Is it really that long ago?

I’m certainly not getting any younger. :grimacing:

35

Tell me about it - this year marks nine years, I think, that I have been trading. Still feels as though I’m relatively new to it!!

1 Like
36

Hi A1len Trader, I know this post was a year ago but what broker were you using?

Blockquote

37

It was LondonCapitalGroup “LCG” but they have capped the leverage now, i also used Admiral Markets at the same time, Also now affected by the leverage cap. Pepperstone was Ok too but they have an office in London so they were affected by the cap also.

38

Thank you for replying. I am sure the leverage cap is good for some. It was more a broker that required low margins for trades, that I am looking for. I haven’t looked at LGC, I will check them out. Thanks again.

39

If you use high leverage you spend less money to be able to open a 0.10 lot trade if you are forced to use low leverage you need a hell of a lot more money to open the same trade…!!!
The leverage cap has forced small account traders to earn pennies on micro lots instead of pounds on mini lots and allowed brokers to close your trades earlier with a higher margin stop out.

(Edit) i think it was City Index i used first not LCG but then i noticed the lower spreads on pepperstone ecn account trading CFD’s also when the spread gets wider it is bigger on a spreadbet account.

40

It is very nice that course was usseful for you!