I've tried my hand at forex and indicies day trading however it is proving to be far too challenging whilst I have a full time job. In contrast my long term investing has been doing fine and seeing as investing usually trumps trading in terms of statistics I've been looking at the possibility of using a spread betting broker basically as a stockbroking account to hold long term positions. I have a stockbroking ISA however as ISA's have a 15k cap I plan to use any remaining funds to put into a spread betting account to take advantage of the fact that it's tax free.
Normally I allocate 1k to each stock however as this is a spread betting account I plan to use a maximum leverage ratio of 2:1. My problem is that many spread betting providers simply don't have a small enough trade minimum on individual stocks. I trade UK and US stocks so I'm on the lookout for a broker that provides at least a 2k notional minimum on common stocks like GOOGL, AMZN, PEP etc but anything less is better. I'm mainly looking at Ayondo at the moment due to the following:
- Negative balance protection
- Pays out 100% of dividends
- Adjustable leverage
- Only charges interest on the amount you borrow which means if you set your margin to 100% you pay no interest
- FCA regulation
The problem here is that Ayondo have rougly 3.5k - 6.5k notional trade minimums for the above mentioned stocks so I was wondering if there are any brokers out there that will allow me to trade at a smaller notional size?
I'd also be interested to hear from anyone that is doing anything similar or if you think there are any pot holes in my plan.
Normally I allocate 1k to each stock however as this is a spread betting account I plan to use a maximum leverage ratio of 2:1. My problem is that many spread betting providers simply don't have a small enough trade minimum on individual stocks. I trade UK and US stocks so I'm on the lookout for a broker that provides at least a 2k notional minimum on common stocks like GOOGL, AMZN, PEP etc but anything less is better. I'm mainly looking at Ayondo at the moment due to the following:
- Negative balance protection
- Pays out 100% of dividends
- Adjustable leverage
- Only charges interest on the amount you borrow which means if you set your margin to 100% you pay no interest
- FCA regulation
The problem here is that Ayondo have rougly 3.5k - 6.5k notional trade minimums for the above mentioned stocks so I was wondering if there are any brokers out there that will allow me to trade at a smaller notional size?
I'd also be interested to hear from anyone that is doing anything similar or if you think there are any pot holes in my plan.