hi all,
I am going to open an account with fxcm: they seem very good, regulated, NDD even with MT4.
it has been suggested to me that I open a spread bet account and trade forex through this account as this is tax free rather than opening a live forex account.
Does anyone have any experience of this please?
Sorry to have troubled you…
I trade IG Index. At one time they did have a forex education guide & when you
signed up they started your spread bet accont at 10p/pip.
Just google IG Index.
Yes, FXCM is very very good FX broker. I have no problems with them at all.
In the U.S. When you make money, you have to have report the income. I don’t know which country you reside for tax free?
best of luck
you can check hotforex too I guess they are pretty decent ! you will find out fast enough if they suit you or not
Hi Guvvy,
Spread betting accounts are similar to the regular FXCM accounts, except that they enjoy special tax-free status for residents of the UK and Ireland. If you live in either the UK or Ireland, then you can open a spread betting account with FXCM by clicking here. If you live outside the UK and Ireland, then you can open a regular forex trading account with FXCM by clicking here.
Jason
thank you Jason, that’s what I was looking for.
So that I am clear- I can open the “spread bet” account and still trade forex in the normal way (i.e. I am not disadvantaged in anyway by opening such an account), it’s just for tax purposes?
Please advise.
Thank you and it is good to see someone from fxcm take such proactive steps- it only re-inforces my intention to join!
Hi Guvvy,
Yes, our spread betting accounts work the same way as regular accounts. They have the same spreads and the same trading platforms to choose from (Trading Station, MT4 and NinjaTrader). One thing to note is that FXCM spread betting accounts are only available denominated in GBP, since the account type is designed is only available to British residents.
Jason
Not to c0ck Block Mr.rogers but
I am going to open an account with fxcm: [B][I][U]they seem very good[/U][/I][/B], regulated, NDD even with MT4.
FXCM Fined $2 Million for Slippage Issues – Clients Will Be Compensated - Business Insider
Huh? Well, hopefully we’ll see an official response but have been with FXCM for a while and have not yet had a reason to complain yet…
“I am going to open an account with fxcm: [B][I][U]they seem very good[/U][/I][/B], regulated, NDD even with MT4.”
Oppz I forgot the " " it was someone elses words im already with another broker
Funny… Just a Curiosity, How many brokers out there working without cheating clients? Let me know. I will google their review. I think all brokers outside from US cheating clients.
PS: I’m trading with FXCM. Very easy to trade from their trade station than MT4.
Updated News: FXCM Releases Q2 2012 Highlights and Metrics | Forex Blog: Espipionage
Cheers.
i am surprised, i think they are so so
Hi Fxmall,
Glad to hear you’ve been pleased with FXCM’s service. Regarding the previous fine, we have always been transparent in explaining what happened. Here is link where I go into this in detail: 301 Moved Permanently
Jason
I’m gonna cut myself short here by saying you need to do your research and key hints here are FXCM was a Dealing Desk then factor in why they would “benefit” from positive slippage not just you.
In short now they are Non-DD and I know since he is an employee for them he will [B][U][I]NEVER[/I][/U][/B] be completely truthful and honest and only point out key positives ignoring the major negatives.
As well I’m not going to really respond to his rebuttal after this because I’m pretty sure FXCM has a lot of prepared statements for such nuisances like me. However with that said I have never known a “fine” to be a good thing and if they were fined for positive slippage which like you say is good for the customer why’d you have to pay then again? The Richer other brokers got jelly?
If you really think about it why would a publicly owned corporation owe you anything? Because you have a $1000 dollar account with them? Fu*k no. If you really think corporations like these especially publicly owned ones owe you any allegiance you are so deluded you might as well give me that money.
Ok Tansen so who do you recommend where we can trade NDD through MT4?!
Thanks Jason, will be checking out the link in detail and I do like the way FXCM is being frank about this (so far)…certainly makes a difference from the usual “Pack up and run” mentality we come across with other brokers…will stay tuned for other updates, thank you.
Of course you have to choose a broker operating in a regulated country.
No dealing desk, no market maker BUT a real ECN
Many brokers will claim to be ECN but they are not !
A true ECN broker gives you access to a large pool of liquidity by sharing his DMA
If you can’t place your own bids and offers then the broker is not a true ECN.
Finally someone who knows the difference between a real ECN account and a Market Maker who states they are ECN.
for how long exactly?