Financial Spread Betting Basics

30 April 2010 - Which Way To Pay

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Financial Spread Betting Basics

Financial spread betting offers people a fast and straightforward way to trade on a massive range of global markets.  Often likened to online gaming, it is in fact officially classed as a financial derivative product.

Easy to Trade

To open a spread betting account you only need your personal information but you won’t need a huge amount of capital.  Most spread betting brokerages allow you to bet with as little as $5 per point.

Is it Gambling?

No; it might be termed as ‘betting’ and it certainly has similarities but financial spread betting is classed as a financial derivative product.  Brokers that offer spread betting platforms should be regulated – so check in advance.

A bonus to spread betting is that it is not taxed like other financial instruments (such as CFDs). 

You are unlikely to have to pay tax on your winnings but make sure you find out the exact rules for your case before you get going.  This is because at the moment the rules on tax in financial spread betting are a still relatively vague and cagey in Australia.

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