Financial Spread Betting

by sarlat
10 replies
Hey All

I know FX is a huge niche but do any of you out there have any exposure to financial spread betting (or trading) through platforms like IG Index.

This will only be relevant I suppose to you Non US people as as it is considered a form of gambling it is illegal in the US.

This is a niche I want to go into (its basically trading but tax free!) but would be interested to see if anybody else has any experience of it.

Any feedback greatly appreciated

Cheers

S
#betting #financial #spread
  • Profile picture of the author Alexa Smith
    Banned
    Originally Posted by sarlat View Post

    do any of you out there have any exposure to financial spread betting (or trading) through platforms like IG Index.
    I trade forex through spread-betting. (I don't use IGIndex, though - mostly one of their competitors).

    Originally Posted by sarlat View Post

    This is a niche I want to go into (its basically trading but tax free!)
    In the UK, it's tax-free, yes.

    Originally Posted by sarlat View Post

    would be interested to see if anybody else has any experience of it.
    I have plenty of experience of it as a trader, but not in internet marketing. There aren't products I'd be willing to promote in the niche. Everything I see looks scammy and unpleasant and its promotion tends to be based on income claims, which I wouldn't touch. I think it's unsuited for most people, and gets treated like gambling by people who don't begin to appreciate the patience, discipline and degree of statistical understanding that necessarily goes into successful trading. It's not something I'd feel comfortable promoting as a marketer at all. Which is a great shame in a way, from my perspective, because I'm an article marketer, and it's a subject about which I could probably write great articles more easily than I can about any of the niches which I do use for internet marketing. But I've never been tempted at all.
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  • Profile picture of the author sarlat
    Thanks Alexa.

    That's a real shame you wouldn't want to promote something you have an interest in. My angle I suppose is I want to really promote trading. IG Index is just a platform in which you can trade. You could also trade using traditional brokers.

    I think just like IM can be broken down into marketing to IM junkies who want the so called "magic button" software and those markerters who understand that there is no such thing as a "magic button" and you need to work hard at it, the same can be said for trading.

    By teaching risk management first, reading charts second then actual strategy last you could have winning products and membership opportunities.

    As a matter of interest do you only trade FX?
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    • Profile picture of the author Alexa Smith
      Banned
      Originally Posted by sarlat View Post

      That's a real shame you wouldn't want to promote something you have an interest in.
      Yes, indeed. Exactly so.

      It even occasionally tempts me to become a vendor (not my scene at all), but the sort of product I'd want to produce and promote isn't the kind that sells well. People want "EA crap for MT" and "indicator-based nonsense" and that's why they all lose their money. I'd want to produce a kind of modernised, updated, elegantly taught, simplified version of "TA without indicators". But nobody wants to buy that. It's like trying to tell people the truth about article marketing. Or backlinks. Few people want to hear it. (Ok, I exaggerate. Occasionally ).

      Originally Posted by sarlat View Post

      My angle I suppose is I want to really promote trading. IG Index is just a platform in which you can trade. You could also trade using traditional brokers.
      I always find it hard to understand why UK people want traditional brokers when they can trade tax-free by using a spread-betting house instead. I suspect they imagine it has larger dealing costs, worse legal protection, less regulation and some other perceived disadvantages which are a mixture of fiction and out-of-date?

      Originally Posted by sarlat View Post

      I think just like IM can be broken down into marketing to IM junkies who want the so called "magic button" software and those markerters who understand that there is no such thing as a "magic button" and you need to work hard at it, the same can be said for trading.
      I agree completely. I suspect the balance may be quite a bit worse in trading than in IM, though.

      Originally Posted by sarlat View Post

      By teaching risk management first, reading charts second then actual strategy last you could have winning products and membership opportunities.
      That would certainly be the order in which I'd want to do it. But I think you'd probably end up with very high quality products which are very difficult to sell! :p

      And to be honest I'm perfectly happy doing my little bits of trading, myself - I don't really need to be a vendor.

      Originally Posted by sarlat View Post

      As a matter of interest do you only trade FX?
      Now, FX only, yes. In the past I've dabbled in indices a little (and even bonds a few times), but I'm much more comfortable with FX and don't intend to go back to indices now. I've never traded individual stocks at all. I'm mostly a Cable and Euro daytrader, and TA only (have zero interest in so-called "fundamentals"). You?
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      • Profile picture of the author NMP
        Financial Spread Betting is HUGE in Europe. By EU Law it's Tax Free if the
        broker are registered in an EU country and you are a citizen of an EU
        country.

        While local IRS may say is not. There is a case called "The Lindman Ruling"
        where EU Court made this a law for entire EU. But is very important
        always to ask your local IRS and make sure the broker has it's main
        office registered within EU.

        However Tax-Free or not. Is still hard to get a profit out of it in the
        long-term that is sustainable. Creating a book for TA's and then give
        links to bookies would probably work best to gain trust.
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  • Profile picture of the author sarlat
    I trade options and IG.

    I am not at all tied to one market but watch a few and trade TA with fundamental views. I trade the Eminis, Dow Futures, oil, RBOB, natural Gas, gold, silver, euro, dollar, wheat, cotton and Apple.

    I love the commodites. They trend real well and highly recommend them to you if you have never done before. Just draw support and resistance lines on wheat and corn and trade them on IG (or your paltform). They are good ones to start with as the its a dollar a point. Once you get more confident go to oranage juice! Check out my video on youtube for a set up on orange juice I did in january this year - orange juice is now at $112 so i basically called a 10,000 point move!


    I think there must be at least 1000 people in the world who would benefit from a six month adult course in trading. At $97 per month that is good money!
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    • Profile picture of the author Young Financier
      Originally Posted by sarlat View Post

      I trade options and IG.

      I am not at all tied to one market but watch a few and trade TA with fundamental views. I trade the Eminis, Dow Futures, oil, RBOB, natural Gas, gold, silver, euro, dollar, wheat, cotton and Apple.

      I love the commodites. They trend real well and highly recommend them to you if you have never done before. Just draw support and resistance lines on wheat and corn and trade them on IG (or your paltform). They are good ones to start with as the its a dollar a point. Once you get more confident go to oranage juice! Check out my video on youtube for a set up on orange juice I did in january this year - orange juice is now at $112 so i basically called a 10,000 point move!

      Make A Fortune From Orange Juice - Like Eddie Murphy! - YouTube

      I think there must be at least 1000 people in the world who would benefit from a six month adult course in trading. At $97 per month that is good money!
      There was one day where I made $23k trading FCOJ Futures. I'll have to check my records to see the exact date, but this was during the time Florida's oranges had the fungus outbreak and FCOJ shot up.
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  • Profile picture of the author chipkole
    I'm interesting in spread betting the markets. Anybody can give me a little more information will be greatly appreciated. Thanks
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    • Profile picture of the author Alexa Smith
      Banned
      Hi Chip, if your profile location's correct, you can't do spread-betting, to the best of my knowledge. I think no spread-betting company will (knowingly) open an account for a US-resident.

      There may be a few people inside the US who do it on the quiet, and I suspect they need something like a Caribbean or Canadian address, phone number and IP number (proxy server?), and are still perhaps taking a real chance regarding the US authorities? I'm not a lawyer, but I believe this is the position.

      Stuart Wheeler - the secret to making money from spread betting ยป The Spectator
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  • Profile picture of the author celente
    Alexa Smith trades forex! wow, "hot girls trade forex" product coming! :-) NICE!

    I have a friend in the UK that owns a spread betting site, he does very well, however there are few fine prints he told me about, that you might want to keep in mind. So read everything before you sign up.

    I guess as long as you do not hide stuff from prospect you will be fine.
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  • Profile picture of the author chipkole
    This sounds like an interesting concept. I've heard it's illegal here in the united states however.
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