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GWM - sorry yeah you're right on the tax free
I was thinking of it as being a 2-3% annual interest cost effectively in IG that they charge on the contract, vs no charge holding with own funds
uk investor, why is it better in a normal account rather than spreadbet please if fully paid up as ig today?
IF amc goes back to its highs a standard account will be liable to tax, spreadbet is tax free.
Also if postions are sold today in spreadbetting any rolling contracts over last years will produce a loss which cannot be set against tax. sad have to close positions with ig mid contract at 1.6, sad spreadex will only sell amc now.
Anyone... Is there no comeback on a spreadbet company closing a stock mid contract?
Nice business...
ah yeah my bad, so it's basically done post today - you'd generally better have it in a normal account rather than put up 100% margin
ig is closing amc if not fully paid today
and force closing amc positions on paid up contracts 29 march
spreadex is only allowing sells in amc for the forseeable
Will the amc board be hosting lots of enthusiastic presentations this year?
I do wonder if it's coordinated though by the government or something, got an email from Hargreaves yesterday saying my Portfolio is a "little risky" (!). Although I have my safe stocks in T212 so overall I guess I'm just right!
ah I see. probably a big drain on liquidity in the market though from the moves on monday and tues maybe that's when it got priced.
Not all. Think they're reacting to ig. Probably inundated with small cap positions.
Is that the case with all smallcaps or just amc?
Spreadex not opening on AMC for the foreseeable
USE SPREADEX. they offer leverage for AMC. i think several people have migrated AMC holding to spreadex
Hi gwm, yes I would think that is exactly the case. But everyone has a get out clause on everything you do, loans, credit cards, insurances, and I guess to use leverage instead of physically holding shares I have to take that risk.
Slight comfort in that ig are exiting a whole section of the market for whatever reason, whereas if they or another closer positions because they are losing for a change I think it would get greater scrutiny and regulatory involvement. Being cynical (read : realistic) I still expect to get screwed over if amur performs, but have to be in it to have a chance.
DEE JAY RE SPREADBETTING
like you I was prepared to pay ig index for years to hold position in amur at prices from 20 down to now 1.6 in the belief sometime we may see returns to the old highs 44p upon regular newsflow interviews enthusiasm about teo mine plan jv t/o copper nickle price increase etc.
As you know ig are force closing at current price 29 mach.
If you go to spreadex arent u in a position where at any point in your present paid for contract they can also say we are force closing you now. ie if you rebuy with spreadex now will they force close you at a sniff of any big amc price increase.
Ivan’s, thanks but I have too many Amur shares in my SIPP, didn’t want to buy anymore. This was just a bit of trading ‘fun’...though I’m losing money on them, so not much fun!
you can still transfer/convert your SB with IG into ISA or trading a/c with IG, though also means you have to have full 100% and not leverage
Cheers Dee Jay, will have a look at them.
After limited research am going with Spreadex. Similar platform so far but spreads on amc not as good as IG. Am comparing real time.
Am peed off with ig having been rinsed on margin calls over the years on amc but had been surviving on the belief I would have the last laugh. Force closing September positions in March suggests not.
95% of my exposure is held in shares, but I have some geared holdings with IG. Does anyone know anyone else that trades them? Cheers