I haven't read the whole thread here, but there does seem to be a lot of negative comment about spreadbetting or indeed if it can possibly be profitable or is what some think is "real" trading?
However, I thought my own experiences and comments may be relevant. I started trading 6 years ago, first with stocks, buying and selling using fundamental information and technicals. Some success but ended up losing a fair amount. Looked for better ways, got more into technicals then decided to throw out all tipsters, market gossip etc etc. Cancelled my sub to Shares magazine the FT and all that. Then stopped trading individual stocks altogether and went over to indices only.
This got me into spreadbetting and more recently futures, I use both along side each other now. Last year after 2 years of spreadbetting I finally managed to recoup all the losses I made with stocks. I haven't traded that much this year because of other commitments. But needless to say I dont have a day job, I am just returning to trading now.
The point is that I realised that there is no such thing as a right or wrong instrument to trade, it is whatever you as a person feels happy with. My own strategy means I only ever look at 2 indices and have 3 decisions to make....in or out....trade up or trade down.
I find spreadbetting a nice way to earn my money, the bets are smallish at £5 per point on average and if I can take 25 clear points after spread a day I am happy with that. Is it profitable?..Yes it is, but then again I am not looking to earn 100K a year doing it. I have had a couple of spectacular falls, but these have been due to my own trading mistakes...........those same errors of judgement would have been expensive whatever I was trading.
So........I say, keep it very very simple, dont fill your head with pretence or snobbery and if you DONT feel a bit of trepidation when you are about to trade. Stop right there and walk away. Spreadbetting is as profitable as any other method if it suits you and all this talk of spreadbetting companies not being completely straightforward is rubbish if your trade is correct in the first place. In saying that....just be careful where you place your stops ok..........enough said
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Happy spreadbetting...or whatever.