Brendan Burgess
Founder
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OK, so I have opened an account with IG Index and sold the minimum amount possible of Bitcoin to see how it works. .03 of a unit at 14351
If I understand it correctly, if Bitcoin rises by 1,000 to 15,351 I will be down €30 - 1000 @.03
If it falls by $1,000, I will be up €30
It seems that spread betting is better than CFDs as it's tax-free.
Having said that, I have unrealised capital gains, so if I go for CFDs and lose, I could set the CFD losses against the gains.
Are there any other differences between CFDs and spread bets?
Brendan
If I understand it correctly, if Bitcoin rises by 1,000 to 15,351 I will be down €30 - 1000 @.03
If it falls by $1,000, I will be up €30
It seems that spread betting is better than CFDs as it's tax-free.
Having said that, I have unrealised capital gains, so if I go for CFDs and lose, I could set the CFD losses against the gains.
Are there any other differences between CFDs and spread bets?
Brendan