Normally the most popular spread bets are the FTSE 100, Wall St (Dow 30), Dax 30, Crude Oil, Gold etc. However it’s sometimes worth having a look at what else is on offer.
Most of the companies offer spread bets on everything from Coffee to Government Bonds to Natural Gas to…Interest Rates…
Thursday’s big Bank of England interest rate cut took many people by surprise. Clearly not one speculator.
Spreadex have reported that one Hertfordshire resident opened seven separate trades on the spread betting company’s Short Sterling Futures quotes.
The bets were on the cut being bigger than the expected 0.5%.
When the announcement of a 1.5% cut came in the client closed out his positions to make a profit of £102,480.
Spreadex spokesman Andy MacKenzie said, “Many people believe financial spread betting is limited to trading on indices, shares, commodities or currencies.
“But there are different ways speculators can use their economic expertise to try and make money and this customer’s shrewd execution of our Short Sterling prices was a perfect example of that.”
Risk Warning: Spread betting carries a high level of risk to your capital. You may lose more than your initial investment. It may not be suitable for all investors. Only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved and seek independent financial advice where necessary.
'Spreadex Client Wins £100,000 on Interest Rate Trade' by Spreadex, updated 11-Nov-08
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Risk Warning: Spread betting carries a high level of risk to your capital and you may lose more than your initial investment. It may not be suitable for all investors. Only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved and seek independent financial advice where necessary.
* Tax law is subject to change or may differ if you pay tax in a jurisdiction other than the UK.
