Spread Betting in Ireland
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Are you planning to invest some extra money into the capital markets? Well, one place to start is some of the Irish spread betting companies.
Spread betting, also known as spread trading, is an interesting system which allows you to trade financial markets across the world without any physical possession of stocks or commodities. As with all investing, a careful approach and a well laid investment plan is needed.
Because you don’t take physical possession of any asset, this form of trading stands in stark contrast to the traditional methods of investing in the markets. Spread Betting works through bid and offer mechanism which offers you a range of prices. The ‘spread’ is the difference of this range.
By using such a system it gives you a chance to “Buy' or “Sell” a security without even actually owning it.
A 'Buy’ or ‘Long' position should be adopted if you are pretty confident about the market and expect it to go up. On the other hand, you may adopt a ‘Sell’ or ‘Short’ position if you feel that the market will do down. The actual movement of the market will determine your profit or loss.
These services are typically available across a wide range of asset classes. You can speculate on various areas including commodities, forex, shares, stock market indices etc. However, each asset class has its own idiosyncrasies and, therefore, proper research in the particular field is highly advisable.
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There are a number of companies in the UK and Ireland that offer this form of investment. If you are spread betting in Ireland you can trade with companies like FinancialSpreads or Paddypowertrader. Although if you are based in other jurisdictions you can often trade in your own currency be it the US Dollar, Sterling etc.
Either of the above companies offers markets to suit the Irish investor including trading Irish shares, Euro based foreign exchange markets and even in the ISEQ 20. The ISEQ 20 is the equivalent of the UK’s FTSE 100. It is a benchmark stock market index of the 20 Irish listed companies that have the highest trading volume and market capitalization.
Apart from being tax free* in Ireland and the UK, this form of trading also lets you trade without a broker, hence there are no brokers fees or commissions.
So whilst this form of trading has a good number of benefits whether you are based in Ireland, the UK or elsewhere, as with all investments there is an element of risk. You can lose more than your initial investment or stake.
It is like the adverts say: Spread bets may not be suitable for all investors. Only trade with money that you can afford to lose. Make sure you fully understand the risk involved. If necessary, seek independent financial advice.
Of course there are ways to help reduce your risks. For example, you can use an order called a Stop Loss. A stop loss is like a circuit breaker which closes a trade if the price moves too far against you.
Also see Irish spread betting companies.
"Spread Betting in Ireland" last update by R Thomas, 04-Sep-2009
Warning: Financial spread betting carries a high level of risk. You can lose more than your initial investment or stake. Financial spread betting may not be suitable for all investors. Only trade with money that you can afford to lose. Make sure you fully understand the risk involved. If necessary, seek independent financial advice.
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