# Spread betting platform for Australia



## SallyC (14 February 2013)

Hi there,

Could someone please recommend me a spread betting platform to use here in Australia? I want to be able to spread bets on S&P 500 stocks in the US. I'm going insane trying to find one. I've looked at CMC Markets and IG Markets, both of which only offer CFDs. Correct me if I'm wrong.


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## cudderbean (14 February 2013)

SallyC said:


> Hi there,
> 
> Could someone please recommend me a spread betting platform to use here in Australia? I want to be able to spread bets on S&P 500 stocks in the US. I'm going insane trying to find one. I've looked at CMC Markets and IG Markets, both of which only offer CFDs. Correct me if I'm wrong.




May be worth enquiring at First prudential Markets.

http://www.fpmarkets.com.au/


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## skc (14 February 2013)

SallyC said:


> Hi there,
> 
> Could someone please recommend me a spread betting platform to use here in Australia? I want to be able to spread bets on S&P 500 stocks in the US. I'm going insane trying to find one. I've looked at CMC Markets and IG Markets, both of which only offer CFDs. Correct me if I'm wrong.




There's no spreadbetting in Australia as far as I know. It's all CFDs.

Note also you pay tax on profits here in Australia...


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## cynic (15 February 2013)

skc said:


> There's no spreadbetting in Australia as far as I know. It's all CFDs.
> 
> Note also you pay tax on profits here in Australia...




+1

I traded spread bets with IG Index (part of the IG Group) from 2006 until 2009 (when IG ceased offering them within Australia). I've seen a number of different tax office rulings (relating to these instruments) over the years in which conflicting opinions regarding the tax treatment of proceeds from trading were expressed. Very confusing!


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## kid hustlr (15 February 2013)

Given there's no tax advantages I always got the impression spread betting and market maker CFD trading were the same thing. A few minor differences in regards to costs etc but pretty similar on the whole


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## luckystrike (15 February 2013)

there's no advantage to using spread betting if you are in Australia.  Use CFDs instead - here are 3 providers that offer the service http://www.contracts-for-difference.com/cfds/compare-brokers.html


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## SallyC (18 February 2013)

Thanks for all your responses!
I want to do more intraday or short term trading hence the decision with spread betting.


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## SallyC (18 February 2013)

SallyC said:


> Thanks for all your responses!
> I want to do more intraday or short term trading hence the decision with spread betting.



Sorry and with smaller bet sizes.


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## noirua (22 July 2016)

Spread Betting:"Anybody who assumes it's easy will be carried out of there in a coffin, I guarantee it." - Simon Cawkwell, giving advice to those considering spread betting who think it's easy.


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## flashjenkins (17 March 2019)

This thread is kinda old, but since I have some experience with spread betting i thought chime in for anybody who stumble upon this topic.

To answer the OP question, one of the most commonly used Spread betting platform is IG.

https://www.ig.com/uk/spread-betting

To put it in simple terms, with spread betting you earn/risk a certain amount if price moves a pip. This amount is the stake box. So if you want to place your stop loss 20 pips away, but only want to risk £10 then you set 50p per pip, since 20 * 0.5 = 10 etc.

(see image below)


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