Thread: Spread betting vs Standard Trading - non UK/Irish/USA resident

Hi,

Please clarify for me the following :
1. I opened a (normal?) demo account using the FXCM trading station links. This account allows me to place simultaneous individual (separate) buy and sell orders in to the market.

a. Is this spread betting?
b. If not what is the difference between this type of trading and spread betting.
c. If so, then as a South African resident what are the restrictions on the type(s) of account I can open?

Thanks
Ivan

Hello IvanA, and thank you for your post! On behalf of myself and everyone here at FXCM welcome to the forum community!


What's the difference between a normal account and a Spread Betting account?

Spread Betting accounts are only available for residents of the UK and Ireland. The only difference between Spread Betting accounts and normal accounts are the tax implications. Please click here for more information.

If you opened a demo account it was probably a normal Trading Station demo. When you open a demo account through the FXCM LTD (UK) site you are given the option of what kind of demo account you want. If you reside in South Africa you won't be able to open a live Spread Betting account but you can open a normal live account for any platform that FXCM offers.


Thank you again for your post IvanA! Please feel free to post with more questions or send me an email directly at julius@fxcm.com

Originally Posted by IvanA

Hi,

Please clarify for me the following :
1. I opened a (normal?) demo account using the FXCM trading station links. This account allows me to place simultaneous individual (separate) buy and sell orders in to the market.

a. Is this spread betting?
b. If not what is the difference between this type of trading and spread betting.
c. If so, then as a South African resident what are the restrictions on the type(s) of account I can open?

Thanks
Ivan

Thanks Julius

My pleasure IvanA, I'm always happy to help!

-Julius

Originally Posted by IvanA

Thanks Julius