Rather than write you a list of spread betting companies, here are some suggestions on the steps to look for when choosing a company to trade with.
Nobody wants to invest their hard-earned money through a spread betting company only to find out too late that it was a fly-by-night operator that went bankrupt, giving you little hope of recovering anything. Choosing a company which is governed by the UK’s Financial Services Authority (FSA) can provide an extra layer of protection.
Forexpros – European stocks climbed higher Tuesday, as financial leaders agreed on a fiscal discipline treaty and reassuring word that a settlement is very close in the Greek debt talks. After the close of European trade, the EURO STOXX 50 advanced 0.50%, France’s CAC 40 gained 1.01%, while Germany’s DAX surged 0.22%. Meanwhile, in the U.K. the FTSE 100 climbed 0.19%. European leaders meeting in Brussels reached an agreement on a fiscal discipline treaty that includes sanctions for high deficit states …
While you don’t pay direct commissions when spread betting, many traders tend to forget there’s a commission built into the spread: the difference between the purchase and selling price of every trading instrument.
Call or email their trading desk and see how long they take to respond. Are their support staff knowledgeable about the goods and services they offer? Ask them how often they experience technical problems and how long it normally takes to solve such a problem; reliability is extremely important from any trading platform.
Many of the leading spread betting companies also offer regular training seminars to help their clients improve the manner in which they trade. They also have training manuals and online guides to help both inexperienced and practised traders.
Financial spread betting carries a high level of risk to your trading capital and can result in you losing more than your initial stake. Ensure that it fits your trading requirements as it can only be suitable for all investors. Only speculate with money you can afford to lose. Before trading, please ensure you’re well aware of the risks that are involved and if appropriate seek independent financial advice.
Am I better learn to become an Internet entrepreneur or become an investor to become a multimillionaire young?I am 18 years old and I am looking into my various options to try and become a multimillionaire while I'm still young. I have tried forex trading, but didn't do too well with it. The way I see it, forex trading is not for beginners like me and more for educated professionals who've went to university to get degrees on the subject. My other investment alternative is trading stock options, i.e. puts & calls which is better than trading forex I think, and is more predictable. My other alternative besides becoming an investor is to become an internet entrepreneur by first using what little money I have to create some applications for the iPhone or something, and then using the proceeds as an investment in setting up a website and to try and turn that website into a successful multimillion pound business. What would you say is the best option if I want to become a multimillionaire all in my early 20s? Please give a good reasonable answer. Thanks!
By being diligent in your choice, both have the possibilities of allowing you to become a multi-millionaire. However, regardless of your choice, you should be proficient in your career choices plus some (or a lot of) luck to achieve your million dollar goal. Just by trading in options based on market noises/ rumors will only make you poorer as evidenced by the countless ruined, regardless of bull or bear market… To profit hugely from the stock market, one needs to have some general knowledge of the business sector(s) and where you think its going to head in the next few years. E.g. Carbon Emission Trading and public transport, like trains is likely to do well in the next few years unless green energy technology is making quantum leap or extremely huge oil reserve is discover in political stable nation(s). After defining the (3~5) sectors, then research and buy companies with good products, revenue/ business model and great marketing/ sales plan. However, please remember not to pay a higher price than you believe its worth. You can determine its worth by looking at the sector’s potential growth, profit margin and current revenue, followed by the company’s brand/ market (leadership) position to determine what you believed is the correct share price or P/E ratio. Please remember everything is ONLY an estimate, no one in this world has the real figure but it’s due to this lack of info that great wealth is created or broken. I would recommend you to read Warren Buffet’s essays, investment philosophy and Phillip Fisher’s Common Stock, Uncommon Profit. Likewise, just wring a few line of code and make a few generic applications will not get you anything, other than personal gratification. You need to have a vision of where your business is heading and the business model to generate revenue. Is it thru advertising, sales of your application or co-marketing to sell other manufacturers or retailers’ goods / service thru your applications/ web-site? I think you can do both (stock investment/ internet entrepreneur) at the same time since long term investing takes very little of your daily time once you have established the stock picks. (Unless you belong to those who make their stock picks quickly with no grounds to support their decisions and fritters a lot frequently are not suitable to make their investment). Few makes a lot of money from option trading consistently, regardless of what the market said. Overall, most are ruined over long term unless, i) You are really good and can read “people’s minds” and a lot (in MILLIONS). ii) You have insiders’ info which will land you in hot soup if caught iii) You are a broker/ hedge fund, earning commission regardless where the market is heading. If the market goes up, you get even more commission. No risk unless you play with your own money too or you have no (rich) clients. iv) You come across a SUPER BULL market, such as the dot-com or the sub-prime bubble period and you entered in the early period and exited before it peaked. Making enough or reach a pre-determined (achievable) target is enough, do not be too greedy. If you insist on making the most profit by waiting for the market/ stock(s) to reach its peak, most likely, you will end up losing a lot of money…