I do not trade live with them. The former name of Prospreads.com, futuresbetting.com had an excellent reputation. I see no reason why this will not continue with LCG as owner. The reason for this is that you are actually trading the futures with a spread betting wrapper. So you are in fact trading with DMA. Prospreads is not a Market maker in the right sense of the word as, they hedge all trades against the future market. Why should one trade with Prospreads if trading the futures with for example with Interactivebrokers, who is much less expensive (at least they used to be)? The only reason for this is probably tax reasons and privacy.
Phil Mibbutz
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Privacy?
Meaning, tax authorities is not likely to find out you might have some money stashed away. I am also quite sure some insiders is using SB for their activities, not to forget to mention the black market. This is only my personal point of view and not based on any real facts whatsoever.
Isn't it possible to convert your taxable profits at a futures broker by taking an exactly opposite position at a SB? Exit both when the futures move against your position at the broker and profits get transferred to the SB ? Of course you have to bear the cost of spreads on both sides but that would amount to about 1%
Yes I think it could be feasible. It all depends on your country's tax policy. In Sweden as private person you can only deduct 70% of your losses but you have to pay 30% tax on futures profit. If the futures trading is within a company (Ltd., Inc., Co.), you can deduct the whole amount you have lost against profit in the company.
I have been thinking about it again. It is a risky strategy. You will be worst off if your futures continue to increase in value. You will be paying tax for the profit and at the same time you will lose the whole value plus the spread on your SB positions.
alan5616
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nash02's suggestion is a very good one. You'd have to be very unlucky to get every trade right with the DA broker and wrong with the SB. I know a couple of traders, who have DA and SB a/cs. They utilise this tax hedging strategy.
Yes could be, still your futures positions might be increasing in value and your SB might lose in value. I didn't actually mean that all your trades on SB were losers and all future positions were winners. I guess you can calculate a stop loss as to when you have to close down your SB positions contra futures positions taxable value. I believe there was as discussion on this subject on the old Futuresbetting thread.
I have a funded account with Prospreads, not happy they stop using Ninjatrader platform last month,
i just downloaded there platform, some limitations if u have used ninja
i having to use demo platform b4 i go live, i met the MD & A Wolley the Sales Manager in LONDON seminar few weeks ago.. had account with them 6 months
I trade futures Emini ES contract & Sweet Crude Oil CL
i just downloaded there platform, some limitations if u have used ninja
i having to use demo platform b4 i go live, i met the MD & A Wolley the Sales Manager in LONDON seminar few weeks ago.. had account with them 6 months
I trade futures Emini ES contract & Sweet Crude Oil CL
ProSpreads
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Dschoon, we have explained the issues with Ninja.
Phil Mibbutz
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Does Prospreads have a substitute for Ninja with chart trading facility?
ProSpreads
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not at the moment but we are looking at different automated systems.
ProSpreads
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regards stops, stop limit, trailing stop, actual stop and OCO'S are all available.
it is a manual input platform for the more advanced trader.
