Member Info for GumT

.. bouncing was that spike to 1p

ValueMB:'As for gambling, please explain how everyone can get more money by using spread betting without the betting company going bust' Sorry, Value, I'm not sure where you got this idea from.

Europe's Investment Banker But Britain also acts as "the investment banker for Europe",
Bank of England Governor Mark Carney said in November, with more than half the equity and debt raised for European governments and companies done in the UK. Banks will argue that Europe depends on the strength and the depth of the financial sector in London to service its economy and companies. If access to the EU is cut off, regional financial stability could be in jeopardy, they will say. UK-based banks had total outstanding loans of more than 1.1 trillion pounds to European companies and governments at the start of 2016. The British government has also privately appealed to financial organisations to make their case in Europe if they want a transitional period where their ability to operate in the
EU would be phased out gradually over several years. Finance minister Philip Hammond told a meeting of finance executives at the end of November they should lobby European governments if they want to secure a post-Brexit transitional deal, according to two people who were present. Hammond made the comments at the annual dinner of the
All-Party Parliamentary Group on Wholesale Financial Markets and
Services, attended by executives from the major British and international banks, according to the people who attended. "He basically said we need a transitional deal to avoid a cliff edge effect, but the EU also needs to argue for it," one person at the dinner said. "He was implying that we need to help the government prepare the ground."
A Treasury spokesman, when asked for comment, reiterated
Hammond's previous statements to lawmakers that Europe will harm itself if they use Brexit to undermine London's position as the region's principal financial centre. Bankers say more work is needed on forging a consensus between Britain and Europe on what any transitional deal may look like. European officials say they will not discuss such a deal before Britain triggers Article 50 of the EU's Lisbon
Treaty to start the process of leaving the EU. "Everyone has a different definition of what it means in
Europe and within Whitehall. We're trying to get a common view on what transition means," one of the lobbyists said. Thawing Relations The British government's relationship with business has gradually improved after months of friction after the vote. It hit a low point during the Conservative party conference in October when May attacked a "rootless" international elite and officials privately suggested banks would get no special favours in the Brexit negotiations. Nevertheless, banks feel they have largely finished putting forward their case for single market access. "We feel we've been lobbying the UK government to death.
We've presented every piece of evidence, every report, research, you name it," one of the lobbyists said. "We've bee

London banks' Brexit battle heads to Europe 10 Jan 2017 10:56 Lobbying effort shifts to the continent Banks have spent months bombarding British govt New push will focus on French officials, EU's Barnier By Andrew MacAskill and Anjuli Davies LONDON, Jan 10 (Reuters) – Banks with large London operations say they will step up lobbying European officials because they are running out of arguments to convince the
British government the industry needs single market access after
Britain leaves the European Union. Banks have focused on pressuring British officials to push for as much market access as possible since voters decided seven months ago to leave the EU. They held fewer meetings with
European officials, according to several senior sources in the financial services industry. The focus is shifting because after scores of meetings and research reports, banks, which say they may begin moving staff and operations out of London in the next few months if there is no clarity, feel they are running out of new points to make. Prime Minister Theresa May said on Sunday she was not interested in Britain keeping "bits" of its EU membership, interpreted by some as signalling she will favour immigration controls over access to the single market. Banks are now planning a new round of lobbying to highlight how a hard Brexit could harm the EU and the UK. They have identified French politicians, EU regulators and government officials, as key groups to win over. "The battle for Britain is over, the battle for France is about to begin," said one senior lobbyist. Another senior lobbyist for one of the major global banks said he will spend more time in Brussels this year to target the
EU's chief Brexit negotiator Michel Barnier and his teams as well as Didier Seeuws, a Belgian diplomat, who is helping coordinate the Brexit negotiations. Another lobbyist said he is planning to visit Paris to meet with French politicians and regulators later this month. Britain's position as Europe's financial centre is emerging as one of the main collision points in the Brexit talks. Some
European politicians see an opportunity to challenge British dominance of finance after decades of viewing its free-wheeling "Anglo-Saxon" model of capitalism with suspicion. EU leaders like French President Francois Hollande have said they plan to weaken Britain's grip on finance by, for instance, demanding the lucrative business of clearing euros should move to the euro zone. Finance is Britain's most important industry, accounting for about a tenth of its economic output and is its biggest source of business tax revenue. Europe's Investment Banker

Jimjam, try not to rely on your doctor's opinion too much. Your surgery was arguably probably not needed, let alone going under the knife again or radio and chemo therapies. Prostate cancer is the slowest advancing , least aggresive cancer. If you were diagnosed in your 60s , it's likely that you'll die from another cause, not from it. May be late 80s? I'm a lot youger than you but have had someone in the family... Still alive and doing well, despite that the dictors said, urgent surgery 10 years ago. We all said 'No'. He changed his diet, no or very little meet, no alchohol, lots of fruits and vegies, exercise, enjoy life, etc... He looks like may live to play with his great grandchildren. Don't despair! Wish you well!

That's alright , charlies. I have no shares in IG because I consider their shares overpriced in the current climate. IG's shares only got the rise in the last few years becuase of huge increase n spreadbetting interest with virtually no regulation. It comes as no surprise that the share tanked after the Financial regulators in different countries decided to overhaul the industry. It's also good for your sake that you only bough in after the price fall. I'm sitting on the sidelines at present before I decide if IG will provide any benefit - be it in shares or trading on their platform. IG may only benefit from the new tight regulations if those changes wipe out the smaller competitors. Otherwise, stricter rules on leverage and limit on customer losses will transpose into lower profits for IG this year. In the long run, it is possible that a better run business as per FCA and other regulators' demands will make it more attractive for traders, so more customers - higher turnover and profit, higher share price and dividends, so everyone will be happy. Something that should have happened long ago. Why wait till the Regulators comes round to whip your backside and force you into submission? GL !

Charlis, trading is for adults, you say. Is that why you are a mere shareholder of IG, sh**ting your pants that you are sitting on heavy losses after regulators decided to look into how those companies operate? But you have never done any trading of course, so you have no idea what that may mean. IG has no choice but do what the regulators ask . Do you realise that?

' IG believes the AMF's approach will provide substantial protection for consumers and greatly improve standards in the sector. IG supports robust and proportionate regulatory oversight of the CFD sector in all the markets in which it operates. ' So IG finally admitted that the way they have been running their business failed to provide 'substantial protection for consumers', that is, that they have been ripping up their customers left ,right and centre.

' IG believes the AMF's approach will provide substantial protection for consumers and greatly improve standards in the sector. IG supports robust and proportionate regulatory oversight of the CFD sector in all the markets in which it operates. ' So IG finally admitted that the way they have been running their business failed to provide 'substantial protection for consumers', that is, that they have been ripping up their customers left ,right and centre.

'However, if the claim is that many gamblers lose money, ..' No claim like that can have reasonable prospect of success. As I said, spreadbetting is very much like investing in shares, where the value can go up or down. However, when the way the investing, game, gambling or however you decide to qualify it, leads to only a tiny chance to have a success, then such a system needs regulation and consumer protection. You surely realise that all I have been saying is what FCA are about to do to the industry, following findings of improprieties. PS. Putting a fiver in your pocker is full of risks, of course. Your wife may put the trousers in the washing machine..oops! Or a skilled pick pocket may make use of the fiver. Or it can slip out of pocket while you are fambling nervously with your hands in and out of pockets while talking to an atractive lady or a man. Or a high inflation may eat its value in a matter of weeks.... Life is a gamble, mate!

YOu are correct. Spreadbetting is consodered gambling,hence no tax is payable on the gains. Actually, almost everyhting if not everything we do in life is a gambling - walking on the streets, driving a car, sitting on the sofa to rest but you die from a blood clog , getting a degree with no security if you'll find a job, getting married to live happily ever after but come out divorced and broke , rasing children to become good citizens, yet they turn out to be mass murderers.... Investing in shares is very much like spreadbetting, the latter is derived from the first. The outcome is uncertain, you can lose money, you make money, so it is gambling. Life is a gamble. However, when the "house" uses covert practices, then it is simplistic to say, that it was a gamble, so you knew you could lose. If you gamble in a casino, you buy chips and you gamble on the outcome of the roulette. You can lose the chips, your money. But spreadbetters have been operating in complete disregard about what's normal and acceptable. Many have lost more than they put in the first place. Whatever the leverage - once your money in your account finishes, no one can claim another £5mln bucks form you. But spreadbetting companis do. Freesing platforms to delay your execution so you run higher loss or not be able to take your profit, terrible slippage ( FXCM was fined last year or thereabouts for precisely such dishonest practices), flase spikes on prices to hit stops, delays in conveying the prices to the customer so it gives an advantage to the company knowing what the market is doing but before the customer knows it, setting up traps so customers can easily fall into them by for example, unnecessary requirements t click or not click on certain buttons when you execute trades, resulting in closed positions at a loss, when all you wanted was to open or close a particular position, suspending accounts despite prior agreement no to do so, and many others, are just some of the examples.... FCA are revamping the whole industry. And rightly so. Too many have been coned out of their money. If 82% of the spreadbetters lose their money as per the FCA's statistics, then something is wrong with the business. If 82% of all drivers lost their lives in a car crash, then something is wrong with the cars we drive, the roads or the licensing of the drivers. If 82% of the fridges, TVs etc were to blow up, then these goods are not fit for purpose.

Because it is betting on the price movement. You don't hold any asset, so you don't invest per se.

Spreadbetting companies have been involved in court cases in the last few years. Do some research before you embark on making stupid comments. More litigation is on the way. I personally know of some in the pipe line. FCA will also reign on the spreadbetters, something that will ease the Claimant's in seeking compensation.

Some of their clients who have been treated badly. Breach of contract, failure to discharge duty of care, unjust enrichment and breach of FCA rules.

All spreadbetters, including IG make most of their money from customers' losses. They have a particular interest in wiping your account. There is no such thing as spread betting in the real world, it is only a made up casino platform where you bet on the direction of the price - up or down. The price may well go in the direction that hst you betted on, but not before it extends into the opposite direction to hit your stop losses or even bust your account and close your positions. The real market makers are not IG, Plus, etc. These are hedge funds who use direct market access. Then they borrow shares for real. Real shares, real borrowing, real interest payment for the borrowing, real deals. This is the real market in going long or short and this real market makes the share price move for real. Some Spreadbetting firms also offer broker services so you can buy and sell shares. But why use them, when you can use Halifax, Barclays, etc brokers with a lot highher protection than the likes of IG? CFD can be organsed either way - as a made up trade or real one. I suppose that Plus500 have nothing real. I'm not sure if IG do a real or it's just like their speeadbetting, all made up with no transparency on their practices. They have been in breach of contract too, for making customers lose more that what the funds in their account allowed. The warning that Losses may exceed Deposits is valid for the deposit you put down for each trade, but not that your entire Funds you have in the account may be insuffcient to cover the losses. Once the running loss reaches your Funds available, your positions must be closed. Instead, some of those crooks keeep them running, and your running losses increase and just before the market turns in your favourt, they close your account leaving you with huge losses. Court claims are on the way, for sure.

Hi gige. They don't put money on real market. They imitate the real market, but the way they want, so there is no guarantee of absolute closeness, that is, there may be spikes in the price on the made up market, that didn't happen in the real world. Spikes, thst can wipe out your entire account. They make money by charging you for 'borrowing' despite that you don't borrow practically anything. They charge for overnight trades, dividends, etc. But the biggest profit for them is your loss. They have an interest in your loss. That is, it is exactly like a casino with all the tricks that they can pull on you. There is very little transparence in their practices. It's usually the case that customers find out the hard way all the pitfalls and traps that they deliberately set up. And when you think that you have experienced all possible ways to lose money, another one just waits for you behind the corner of the next trade. I am sure that there would be serious court cases for significant amount of money against these firms. I am not against this type of business. It's alright to have it in the UK, but the whole way of doing it has to change dramatically to make it a level playing field for the customers.

For some reason the values came out decoded 3GBp may seem cheap, but it may well go down to 1gbp or 2gbp

The whole industry will see a total overhaul. The recent FCA consultation is only the beginning . The likes of IG and Plus500 have only been making money because of the millions of ways to fleece their customers. These aren't stockbrokers but casinos that always win one way or another. They lack transparence in their operations and FCA will make them do a lot of changes. I'd also expect that customers will launge legal claims too. CFD if properly run will never be as profitable for the Platforms as it is now. If you think that £3 per share is cheap now, what will you think if sp goes down to £1 or £2?

The whole industry will see a total overhaul. The recent FCA consultation is only the beginning . The likes of IG have only been making money because of the millions of ways to fleece their customers. These aren't stockbrokers but casinos that always win one way or another. They lack transparence in their operations and FCA will make them do a lot of changes. I'd also expect that customers will launge legal claims too. CFD if properly run will never be as profitable for the likes of IG as it is now. If you think that £4 per share is cheap now, what will you think if sp goes down to £1 or £2?

Fibonacci has no relevance in a share like this. SP may double or rise 10 fold or halve or drop by 90% in any given time. No charts can possibly spell anything. It all depends on news and coal prices.