best SB broker for scalping ?

[price777999]

just been thinking , if you are trading small accounts like me then you are better of just getting a futures account as anything under 10 grand a year in the UK will not be taxable ?.........am I right ?

 

[Shaun12uk]

Yes you are right in respect of the tax but the margin requirements are quite a lot more and I doubt you be able to fund the margins if it is only a small account. Margin requirements are significantly
higher with a futures broker than an SB account.

 

[price777999]

Yes you are right in respect of the tax but the margin requirements are quite a lot more and I doubt you be able to fund the margins if it is only a small account. Margin requirements are significantly
higher with a futures broker than an SB account.

what about micro futures ?

 

[Fxtekkie]

Has there been some post removal here?

Seems so, but why?!

 

[top trader]

I have no problems with IG.

 

[kwickwool]

scalping with a SB is a bit like asking the late jimmy saville to baby sit for you, no matter what they say there will always be issues due to the nature of the beast.

The SB cannot hedge effectively your trades if u scalp, therefore any profit you make is right off their bottom line profit. So if you continually do this what is going to happen..........if you scalp dont use a SB, simples.........

Becasue of their business model they cannot deal with scalping, they can barely deal with profitable traders.

 

[kwickwool]

just been thinking , if you are trading small accounts like me then you are better of just getting a futures account as anything under 10 grand a year in the UK will not be taxable ?.........am I right ?

You will use up your capital gains so yes you are right if you have no other capital gain

 

[NVP]

good thread.....again the lesson is horses for courses....SB's can be used and are by thousands of traders .....and its the only way to get your hands dirty in stage 1 of newbie... using those nice demo accounts that are free to join .......

Free !........jees SB's are all so kind

N

 

[NVP]

just been thinking , if you are trading small accounts like me then you are better of just getting a futures account as anything under 10 grand a year in the UK will not be taxable ?.........am I right ?

you could set up a company offshore with low corporate tax rates and trade (virtually) from there.......its worth it if you are making good money...

but do the research and dont give your money to strange men in sunglasses....also sadly some of these havens have now got stricter and there is more intrinsic Banking/country default risks so its not as good as it sounds

and of course the osbourne brigade are busy closing loopholes.....:innocent:

N

 

[Vasco da Banana]

scalping with a SB is a bit like asking the late jimmy saville to baby sit for you, no matter what they say there will always be issues due to the nature of the beast.

The SB cannot hedge effectively your trades if u scalp, therefore any profit you make is right off their bottom line profit. So if you continually do this what is going to happen..........if you scalp dont use a SB, simples.........

Becasue of their business model they cannot deal with scalping, they can barely deal with profitable traders.

They can't and wouldn't want to hedge directly or exactly, but that doesn't matter unless you're trading stakes large enough to have a significant effect on their overall position.

 

[kwickwool]

They can't and wouldn't want to hedge directly or exactly, but that doesn't matter unless you're trading stakes large enough to have a significant effect on their overall position.

Of course that goes without saying that their main concern is their overall postion but the fact remains if you are taking profit from a SB every day you are taking that money from their pockets and their profitability.

You cannot make money consistantly with a SB, they are purely for the newbie to get his feet wet, simples.

 

[capitalspreads]

kwickwool

and area 51 exists... Elvis was kidnapped by Martians.....

as independent analysis has shown (nothing to do with the spread betting industry) it is as hard to make money in any form of derivatives trading (FX/Futures/Options etc) as it is from spread betting. It is just there is someone to blame in the market making arena.

whereas with the exchanges/DMA .. it was 'just the market' .

In reality with spread betting clients it is still 'just the market' but most are not willing to accept this and try to blame the provider.

Simon

PS. I also note from another thread that you have made an incorrect comment apparently attributed to me.. I would be grateful if you could amend/remove it as I don't believe I ever made any such statement.

 

[kwickwool]

kwickwool

and area 51 exists... Elvis was kidnapped by Martians.....

as independent analysis has shown (nothing to do with the spread betting industry) it is as hard to make money in any form of derivatives trading (FX/Futures/Options etc) as it is from spread betting. It is just there is someone to blame in the market making arena.

whereas with the exchanges/DMA .. it was 'just the market' .

In reality with spread betting clients it is still 'just the market' but most are not willing to accept this and try to blame the provider.

Simon

PS. I also note from another thread that you have made an incorrect comment apparently attributed to me.. I would be grateful if you could amend/remove it as I don't believe I ever made any such statement.

Simon,

no one is blaming SB's for losing money here you are missing the point altogether. What is being stated is due to the business model if you are trading fulltime and professionally then you are trading through a broker, DMA real data feed etc and not trading through a SB with indicative pricing.

A business model ultimately based around profiting more from a trader who losses against a business model where a company profits only on commission and the more you trade the more they make, regardless of winning or losing. There is ultimately no choice for the seasoned pro.

I realise you will always protect your business but you know that SB's are for a certain demographic but not for a second are SB's for the full time trader and professional which is all that is being said.

In regards to the statement i made regarding the best winning client from CS was £140k I believe that is what you stated, i remember you saying it as you said he just could not put a foot wrong and always second guessing the market. It is within the CS thread but have not got the time to find it, but it is there.

ps CS are probably one of the best SB companies, but a SB they still are.

regards,

kwickwool

 

[capitalspreads]

kwickwool

thanks for responding so nicely... it really is unusual !

yes you are right .. at the end of the day CS is a spread betting company and in the main we do make our money from clients losing... to those of you logging on at this point "sorry"... but the main point is that we do not try to trick anyone, alter prices, cheat, etc etc.... we just let people get on with what they want to do.... they do all of the above to themselves...

as every commentator on these threads will tell you... your worst enemy is yourself

re winning clients... i think i said £340k winner (not 140k) from a standing start... the kind of punter who really breaks the rules.

A big client who wins big then.... well ...he is risking a lot to win a lot ... and we have a few of these.

But the client who turns up, puts a few grand down, and proceeds to wipe the floor with us... tends to stick in the mind!

Some do this and it is infuriating from a Market Maker point of view.... client buys... market rallies...sells ... market falls..... buys market rallies... over and over again...

you just have to realise that, statistically, sometimes when you flip a coin .. it really will fall 'heads' one time after another

simon

 

[kwickwool]

Simon,

Can't fault your comments and the fact you put yourself here for all to go at, good on you.

Kwickwool

 

[Car Key Boi]

kwickwool

and area 51 exists... Elvis was kidnapped by Martians.....

.

sorry to butt in on what has been a very interesting and insightful debate, but Area 51 most definitely does exist. For decades it's been a top secret (maybe not so secret these days) USAF experimental aircraft facility that is located about 100 miles north-west of Las Vegas next to Lake Groom. In recent years former Area 51 employees have broken their silence about the goings on at Lake Groom and much to the chagrin of UFO conspiracy-theorists their revelations didn't include tales of dead aliens and crashed spacecraft and the like.

and Elvis was never kidnapped by Martians..... he WAS a Martian!