Spread Betting is a form of trading stocks, or any other security by placing your trades on a brokers/bookmakers price rather than the actual market. Trading this way means (in the UK) you don't pay any stamp duty or become liable for capital gains tax on your profits (if there are any!).. But lets get down to the nitty gritty, stocks, indices, forex or commodities, ideas to trade or charts to watch... :) All welcome..
Let's say you had powers to be 100% in forex spread betting. The daily volume of forex in around $5.3 trillion. If you could capture 1% of that you'll be earning $53 billion a day. What would you do with that income? I would be a philanthropist and save the world with my money.
free quality healthcare for everyone in the world
free quality education for everyone in the world
access to basic quality of life item such as water to everyone in the world
free policing to everyone in the world (so I have my own paramilitary army)
A friend said that if I do that I would collapse the world economy ... is he right? Would lawmakers try to stop me?
The gap between the buying price and the selling price of a currency is defined as the Spread. As trading with low spread, traders are benefited from the guaranteed double profit of trading volume everywhere. #brokersguru #FanaraFilippo #best_forex_brokers
Is my broker charging me too high a forex spread on GBP/USD?
I was selling off some small gains in my portfolio, nothing major but it was about a 5% gain since purchase, and noticed that I somehow ended up receiving less consideration than I put in. Looking closer at the transactions I believe the forex spread is to blame. I purchased the asset at an exchange rate of 1.49, and then on selling the rate was 1.54, a difference of 0.05. This seems very high to me, suggests that I need at least a 5% gain on any investment before I can even break even. Am I just very inexperienced and this is entirely normal for trading in different currencies, or is this as ridiculous a spread as it seems?
It seems like the retail trader is much too focused on the spreads. In my opinion, if a spread difference of 1 pip between brokers is enough for you to choose a different broker, then you are doing it wrong. And if its enough to make your strategy fail, then you need a new strategy. Real full time traders do not look as hard at the spread like retail Forex traders. They look more at "If I deposit $100k into this broker, will they steal my money". "How long will it take to withdraw funds" etc. etc. Point: Stop nit-picking about the spreads, pick a broker that has good customer service, and is trustworthy. If you are really doing enough volume for the spread to matter that much, then broker shop. But all the what if people, "But if I trade 1000 standard lots with 1 pip higher spread that's $10,000 a year!!!!" Then that same person goes to their $500 micro account and starts trading mini lots. Retail Forex individuals seem to be the most misguided people on the face of this planet.
Canadian here. USD in my trading account that I need to withdrawal and remain in USD. My bank doesn't allow me to keep USD in my account and will "double-ding" me on the forex spread. What to do?
I have a Questrade account with US equities in USD. I want to withdrawal some USD for a trip I will be taking to the USA. After talking to my bank, they said I don't have a USD account (costs money) so I would have to transfer the funds into my bank account and deposited as CAD (about 2% penalty due to spread). Then, I will have to get dinged on the spread again when I convert back to USD. A 4% penalty. Any better ideas?
Hi guys I just recently started investing and have been using IB for awhile now. However, I am currently finding the monthly 10USD to be a bit of a roadblock. I have read multiple comparison for the different brokers for Singapore and still have a couple of questions. Can anyone enlighten me what the process of account funding is like for TDA? Do we transfer SGD into the account and then convert to USD and be subjected to foreign exchange fee? What is the forex spread like? Do we have the option of transferring USD directly? In the case that we have to withdraw our money, do we reverse the process by converting back to SGD? For those that are currently with TD Ameritrade already, what do you like about the broker in general? Should I shift from IB to TDA? Thank you! EDIT: Sorry I think I wasn’t very clear previously. I have been using IB for a while now so I understand all the processes for IB. What I am curious about is the process for TDA if anyone can enlighten me thank you!
Hello I'm 21 going in army soon and plan to invest 500 every month into SWRD(90%) + EIMI(10%) which broker should I use? The fees SCB - (10 dollar min commission fee or 0.2%, 0.2% trading fee, and a 0.43% forex spread) Saxo - (10 dollar min commission fee or 0.06%, 0.08% trading fee, custody fee of 0.12% and a forex spread of 0.75%) Also what do you guys think of investing in IT etfs like QQQ or healthcare etfs with low expense ratio. Do let me know if I'm missing out something or there's a better way of investing like investing every 2 months instead or robos. Thank you for reading. Edit - Thanks all for the feedback I really appreciate it. I have decided on Interactive brokers. I forgot to mention that after 2 years of NS I will be in uni for another 4 years and I probably won't be investing during this time. Assuming I liquidate my investment at 27 from SCB and transfer to IB, I calculated that I'm at a gain of 60 sgd by not going with IB which is really nothing and it seems kind of troublesome to do that so I'll just stick with IB. Thanks all
PDT Pattern Day Trading Rule - why do I get flagged when I'm not trading on margin?
Hello! I'm hoping someone can help clarify this. Trading with Robinhood (will certianly be moving of this platform in the near-term). I used to trade forex (spread-betting) in UK. Now in the states i'm delving into options. From spreadbetting forex, I like to day trade. Why am I getting flagged as PDT? I do not believe I am trading on margin, I waited for all deposits to hit the account before I traded. I'm quite confused at this point - I thought if you weren't trading margin this should be fine. Any guidance on this?
0.7500% per annum payable to the Trustee, BPI AMTC
0.0084% payable to the Third-Party Custodian of the Fund, Bank of New York Mellon
External Auditor Fee
0.0082% payable to the External Auditor of the Fund, Isla Lipana & Co.
0.0300% payable to the brokers / dealers for the buying / selling of shares / units of the Target Fund
0.7966% (at least, if other expenses like taxes are not included)
Note that SPY's gross expense ratio by itself is 0.0945% Investment amounts:
Class A (USD Class)
Class P (Philippine Peso Class)
Minimum Initial Investment
Minimum Transaction Amount
From their FAQ:
If I invest in Unit “Class P” and the general consensus is stronger or weaker USD against major currencies, how will this affect me as an investor? As a Unit “Class P” investor, should the US Dollar strengthen against the Philippine Peso, you stand to benefit on stronger US Dollar due to unrealized foreign exchange gains. On the other hand, should the US Dollar weaken against the Philippine Peso, you may experience additional volatility due to unrealized foreign exchange losses. Note, however, that the NAVPU of the unit classes also reflects the daily marking-to-market of the underlying investments of the target fund. As such, we emphasize that clients are not encouraged to subscribe into the BPI Invest US Equity Index Feeder Fund Unit “Class P” to hedge foreign exchange risk. Unit “Class P” was designed primarily to provide convenient access to global outlets for investors with Philippine Peso.
--- So ultimately, it just provides the convenience that you don't have to buy USD to invest. The minimum transaction amount is also lower. The exchange risk is there whether you invest in USD or PHP... if you eventually will spend the investment proceeds in PHP. If one can buy and sell USD at better than bank rates, it may be better to invest in USD fund since BPI probably earns a little bit more on the forex spread. I guess BPI just has to be clearer when stating the performance of the USD class and the PHP class, since the latter also effectively includes the exchange rate performance of USD vs PHP.
Does listing currency of ETF matter if buying on margin?
Several articles claim that the listing currency of an ETF dos not matter. Eg. investing in QQQ (Nasdaq-100 in USD) and EQQQ (Nasdaq-100 in EUR) should yield identical return (apart from minor forex spread/fees) if you convert the fund back to your original currency in the end. However, does it still apply if I'm buying on margin? If not, wouldn't it always advantageous to buy the ETF that is listed in a currency with lowest margin interest rate (eg. EUR rather than USD)?
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*Includes all valid trade and orders requests, excluding those entered on the MetaTrader platform. FOREX.com's execution statistics represent orders executed on FOREX.com's suite of trading platforms during market hours between April 30, 2020 5:00 pm ET and May 31, 2020 5:00 pm ET for FOREX.com's US entity only, excluding trades/orders entered on the MetaTrader platform. Forex spread betting is a category of spread betting that involves taking a bet on the price movement of currency pairs. A company offering currency spread betting usually quotes two prices, the ... Forex brokers will quote you two different prices for a currency pair: the bid and ask price.. The “bid” is the price at which you can SELL the base currency. The “ask” is the price at which you can BUY the base currency. The difference between these two prices is known as the spread.. Also known as the “bid/ask spread“. The spread is how “no commission” brokers make their money. Understanding the spread is an important part of your forex education. Learn how to calculate forex spreads and costs, and read expert spread trading tips. The forex spread is the difference between a forex broker's sell rate and buy rate when exchanging or trading currencies. Spreads can be narrower or wider, depending on the currency involved, the ...
"What is the spread" is one of the questions answered at http://www.planbtrading.com. "What is the spread" looks at the concept of spreads when trading Forex... This is the #1 Video for all things related to Forex spread You will see the truth on what makes a good trading system GREAT and you'll finally be able to trade like a PRO. This video answers your ... Understand how to deal with Bid Ask spreads in trading forex. Learn how to factor in the bid ask spread when placing trades in forex trading These are essent... The difference between the buy and sell price (also known as bid and ask) is one of those things that mystifies newbies. We’re not used to having two prices ... A Forex spread is the difference in price between what a Forex broker will buy the currency from you for and the price at which they will sell it. Ken is bac...