Tuesday, Sep 23, 2008
Not everyone can profit from falling markets
Halifax HBOS: Not everyone can profit from falling markets
I am appalled that HBOS is still getting away with putting this out there.
Halifax Contracts for Differences (CFDs) are a way of making (or losing!) money from share price movements without owning the share itself. You simply own a contract which you buy at one price and sell at another making (or losing) the difference.
This is gross neglect of responsibility and takes the p*** out of the UK people.
Posted by andy @ 12:48 PM (304 views) Add Comment
5 Comments
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1. drewster said...
andy,
CFDs have been around for years; Spread-Betting (which is similar) has been around even longer. Both are a handy way to get around the new shorting rules and to avoid stamp duty on shares. Why is any of this a gross neglect of responsibility?
2. Spreadbetter said...
You can bet on a horse race without owning a horse cant you... ???
3. Landedgentry said...
Andy,
Alcohol can kill you if you abuse it.
Drewster
CMC markets adhered to the ban on short selling on my spreadbet account (according to a small popup)Not that I trade stocks anyway, but I cant figure out why? maybe techieman can enlighten is
4. richc said...
I think the point is more that HBOS, having caused such a fuss about shorting, is still selling CFDs itself.
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