Hey guys, anyone familiar with spread betting?
I've been looking at Spread Betting lately as a tax free alternative to Trading, and although the entry offers are pretty good as some cover up to £200 of losses, others double your initial deposit right away up to £100.
So I thought about jumping over for a test drive with a meager amount around £100, but then I noticed the minimum stake for any spread bet is £1 per pip, which I think makes it absolutely impossible to manage the risk, as I'd have to risk around half of my account for each trade in a volatile market like the Forex.
Am I reading this wrong? Are there alternatives to this?
Before you mention it, Demo account doesn't really do it for me, I always end up taking punts, instead of trading when real money is not in stake.
I've been looking at Spread Betting lately as a tax free alternative to Trading, and although the entry offers are pretty good as some cover up to £200 of losses, others double your initial deposit right away up to £100.
So I thought about jumping over for a test drive with a meager amount around £100, but then I noticed the minimum stake for any spread bet is £1 per pip, which I think makes it absolutely impossible to manage the risk, as I'd have to risk around half of my account for each trade in a volatile market like the Forex.
Am I reading this wrong? Are there alternatives to this?
Before you mention it, Demo account doesn't really do it for me, I always end up taking punts, instead of trading when real money is not in stake.