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eastside

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Posts posted by eastside

  1. I just wanted to add given many people have lost jobs due to lockdowns and resorted to SB trading full time and the industry sells SB product as tax-free to the public. therefore profits from SB are never declared during self-assessments.

    The way i understand is if you do not have any other means of income other than trading AND you are winning substantial sums of money from spread betting, then you could be potentially/technically taxed on profits from spread betting. I say technically/potentially because when those large transactions leave a paper trail and get flagged up, "if" they decide to investigate its very easy to be singled out from the crowd. They could argue than your SB has become the main source of income or even act as insurance against your trades in shares account or cfd by using SB and therefore all should be treated equally for tax purposes. 

    ofcourse none of it may matter because hmrc may not care or have the manpower to go after small fishes in the pond. 

    • Like 1
  2. afaik, ig will not charge spread as well if you hold all the way to expiry. the only problem is you have to open each of them separately and lose bit of precision with the underlying price and strike prices moving all the time on either side of call/put. which means if you close early you'd have to close the separately too.

    Also there may be a catch of 30 second (or some time) limit in some markets, with the amount of buying and selling you could place. 

    • Like 1
  3. i can imagine what you are going through as i myself had a 25K loss couple of months back due to bad management. its very easy for the mind to be clouded. 

    we do know that the withdrawal process is not instant and could take 1-2 business days. also you could have moved part of your the funds to your shares dealing account (or even CFD) from the SB account to keep it safe temporarily from exposure from existing positions. 

  4. i dont think spread is a component that sticks to every trade, that a new idea for me. the bid/ask at the time of closing will apply, unlucky if it widens like out of hours etc.

    i don't think the big banks etc cares about fairness for us retailers in trading. looking at ways with their HFT and running stops and what not to reduce burden and fill their coffers in every possible way

  5. I don't know if anybody uses alerts effectively as they seem bit rudimentary; i cant find a way to modify an existing alert or temporarily disable them. copying a watchlist in between SB, CFD account rather than adding from scratch.

    Also in PRT (out of syllabus), i wish there was a way to see how much margin is required for the quantity entered similar to web platform.

    • Like 3
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