FuturesBetting.com Re-Launching

[cryten]

they run capital spreads and tradefair also

I hope they don't mess up this model but I'm glad their back.

 

[Phil Mibbutz]

FB will probably just become another Capital Spreads platform clone, then.

 

[gle101]

FB will probably just become another Capital Spreads platform clone, then.

Hopefully Capital will come up with a new commission model. The former Futuresbetting.com was way too expensive. I am looking forward to see what they have to offer.

 

[croker]

Do you know if it's possible to have a Euro account with them?
kwickwool, you're from France I guess, did you have a Euro account with them? Thanks..

 

[peter sims]

Hi yes you can have a account in USD, EURO, CHF or GBP as you trade the actual market the P&L you make is in that product CCy, and as for capital spreads making them one of their clones that is not what futuresbetting are saying they said that the platform and spreads will be the same as before so for instance on FTSE 100 futures they charge .5 on top of the market spread to get into a bet and .5 to get out which is not too bad plus i understand that if you do more then 100 rt in a month it goes down to .25 in and .25 out.

 

[arabianights]

£5 a round trip ?

 

[peter sims]

£5 a round trip ?

Yes after you do 200 bets at £5 per bet in FTSE it goes down to £2.50 per bet (£5 round trip)

 

[arabianights]

Christ... Surely they could get it a lot lower than that?

 

[peter sims]

Christ... Surely they could get it a lot lower than that?

I'm not too sure you understand but the minium bet on ftse with Futurebetting for example is 1 contract (£10 per point) so for you to make money and cover your spread cost the FTSE only needs to move over 1 point and your making money so when you have done over 200 bets this changes so you only need the ftse to move by half a point to be making money

This is such a small cost for true DMA with no requotes and the rolls royce of spreadbetting platforms

 

[arabianights]

I'm not too sure you understand but the minium bet on ftse with Futurebetting for example is 1 contract (£10 per point) so for you to make money and cover your spread cost the FTSE only needs to move over 1 point and your making money so when you have done over 200 bets this changes so you only need the ftse to move by half a point to be making money

This is such a small cost for true DMA with no requotes and the rolls royce of spreadbetting platforms

I understand that... I just had no idea retail dma cost that much!

 

[MrGecko]

@ 10GBP pp why not just trade the futures on LIFFE?

 

[arabianights]

tax

 

[andy woolley]

Futuresbetting.com are hopefully back live trading from Monday 9th June 2008

 

[andy woolley]

£5 a round trip ?

The spreads are your only cost, the best thing is that there are no re quotes and instant fill's.
Futuresbetting dont take positions against any client as in most other spreadbetters so they want the client to make money.

 

[zigglewigler]

£5 a round trip ?

More like::-0:-0:-0:-0

 

[Directional]

More like::-0:-0:-0:-0

only if you're used to paying prop rates. their base rate is comparable against most retail rates, and if you pay normal spreads with any SB firm, then they are cheaper.

FB were always targetted at mid-volume, profitable traders. After all, there is no point trading via spreadbet if you lose money, coz betting losses are not tax deductible.

Anyone who trades with an SB firm and pays more than a 1.5pt spread will find Fb cheaper, never mind the fact they do DMA trading, which you get NOWHERE else.

And besides, if someone bets with the majority of firms even if the spreads are less than FB, eventually they will lose due to the tricks such as requotes, skew etc, which you cannot get with DMA.

 

[Vaco]

Andy,

Futuresbetting seems to be trying to compete with direct access on the basis that spreadbetting profits are tax free. Can you confirm that a trader in the uk whos only source of income is through spreadbetting via futuresbetting.com would not be liable for any tax on profits made.

I'm sure you will agree that a definitive 'yes' to this question would be beneficial to yourself. At the moment many tarders are just unsure and uncomfortable with this been seen as a grey area.

If the answer is 'no' or does not give a clear answer then what benefits do you offer over traditional direct access.

 

[Directional]

Trade: exceptions & alternatives: betting and gambling: the professional gambler

this peice of tax law spells out the Revenue's view on systematic betting. So long as financial spread betting remains a "bet" then according to the law he is not liable for tax even if his living is derived from it.

 

[arabianights]

Makes you think though: what if there were an option to pay say a pound or less per round trip but a "membership" charge of a grand or two a month... I wonder how many arcade traders would be tempted over?

I guess a five pound round trip on indexes or long bonds is not that much but would make it very hard to trade schatz and almost impossible to scalp stirs.

P.s. What do futuresbetting do if you build up a huge bond position (or worse, a commodity) and just leave it until delivery?

P.p.s. Would like to wish futuresbetting the best of luck, I still reckon it's a brilliant idea.

 

[arabianights]

Trade: exceptions & alternatives: betting and gambling: the professional gambler

this peice of tax law spells out the Revenue's view on systematic betting. So long as financial spread betting remains a "bet" then according to the law he is not liable for tax even if his living is derived from it.

Interestingly this probably means that Vince Stanzione, Darren Winters and the rest of the scammers can presumably claim back the losses they surely make spread betting on their tax returns as a cost of business. Genius!