Tuesday, September 23, 2008

Not everyone can profit from falling markets

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 (636 views)
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4 thoughts on “Not everyone can profit from falling markets

  • 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?

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  • You can bet on a horse race without owning a horse cant you… ???

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  • 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

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  • I think the point is more that HBOS, having caused such a fuss about shorting, is still selling CFDs itself.

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