Investment: Spread the word
A new Hebrew website will extend the possibilities for the accessible, tax-efficient process of spread betting
If you are a retail investor with an opinion on the price of anything from the FTSE 100, the euro against the dollar, the price of BP shares to gold, oil and other commodities, you will struggle to find a better way to exercise those opinions all in one place than by opening up an account with a financial spread betting firm. Despite there being more than 20 financial spread betting companies in the UK, a vast majority of the financial investment community is still unaware of its existence. The time has surely arrived for the public to become better-educated.
Worldspreads was launched 10 years ago and is now one of the UK's leading financial spread betting companies. Like all spread betting firms it is regulated in the UK by the Financial Services Authority. Since re-locating from Dublin to London in 2005, Worldspreads has enjoyed a fast and prominent rise, with more than 12,000 clients, from hard-nosed bankers to savvy housewives, from in-the-know City traders to cabbies with the knowledge, all expressing an opinion on any of the 3,000 markets that are quoted online, 24 hours a day.
"It is not hard to see why financial spread betting has experienced such explosive growth," says David Garbacz, senior sales trader for a newly formulated department within the company, dedicated to growing the Anglo-Jewish and Anglo-Israeli side of the business. "Aside from the leverage, the miniscule dealing spreads, the absence of trading commission and the 24-hour dealing facilities, any profits made from financial spread betting are exempt from capital gains tax in the UK.
"We welcome all types of accounts. We are happy to accommodate clients wishing to trade in as little as £1 per point on all of these markets and are equally happy to accommodate clients wishing to trade in far more significant size. We have worked hard to make the product as accessible as possible and for those who prefer an old-fashioned personalised service, we welcome clients who wish to speak to their own designated dealers to execute their business. Most of our clients, however, do prefer to trade online, where we offer an up-to-the-minute platform with instant execution."
Clients from savvy housewives to City traders express their opinion on any of 3,000 markets, 24 hours a day
Worldspreads' head office is in London and it now has offices in Dublin, Paris, Frankfurt, Stockholm, Copenhagen, Madrid and South Africa. In 2008, it opened its first Asian office in Kuala Lumpur, Malaysia as well as having partnerships in Greece and Hungary. Conor Foley is the co-founder and chief executive of the group and has been instrumental in the company's growth and ideals. The company is listed on the London-based Alternative Investment Market (AIM). Recently the group has launched a Hebrew website.
"There is enormous potential in the Anglo-Jewish community for this type of product and the Hebrew translated site shows the commitment Worldspreads is putting behind a community previously unrecognised by spread betting firms," adds Garbacz.
UK website: www.worldspreads.com