getrichbysb
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I am new to spread betting and have few questions about binary betting. In the below scenario, could someone help with final profit /loss in 2nd and 4th points below?
All bets are assumed for £1 per point.
If the sell-buy price is 40 - 60 and the bet question is 'FTSE close up by 50 pts today?'
1) If I Buy at 60, and win bet: Profit = 100-60 = 40
2) If Buy at 60, and lose bet: ????
3) If Sell at 40, and win bet: Profit = 40-0 = 40
4) If Sell at 40, and lose bet: ???
Also, at the time of expiry for binary bet, will the bet automatically closed and profit / loss will go to my account OR do I need to manually close the bet? I am using IG index.
All bets are assumed for £1 per point.
If the sell-buy price is 40 - 60 and the bet question is 'FTSE close up by 50 pts today?'
1) If I Buy at 60, and win bet: Profit = 100-60 = 40
2) If Buy at 60, and lose bet: ????
3) If Sell at 40, and win bet: Profit = 40-0 = 40
4) If Sell at 40, and lose bet: ???
Also, at the time of expiry for binary bet, will the bet automatically closed and profit / loss will go to my account OR do I need to manually close the bet? I am using IG index.
