Although spread betting can be a way to make some (or lose some!) extra money or to supplement your current income, it can also be fairly risky and expensive. That is why traders always try to seek out tight bid-offer spreads, competitive financing rates and cash bonuses to supplement their hard-earned cash when they open new accounts.
Using spread betting bonuses can be a way to make spread betting cheaper, giving you larger returns and less risk.
Start spread betting on the cheap!
First, you need to make sure that you need to know what you are doing. Whilst bonuses do help give you that little bit extra, it is possible to lose more than your original deposit. Budget spread betting appeals to any level of trading enthusiast; however it certainly is not risk free. Low cost spread betting can turn into high cost if you are not careful with stop losses.
Bonuses are perfect for budget spread betting!
Spread betting bonuses do exist and they are becoming more and more common amongst spread betting firms in the competitive industry we are in. The cheaper and more affordable they can make it for their punters, the more custom they will get. For instance, some bookies will offer a “deposit bonus” of around ten percent when you open up an account. This will make trading that bit more cost-effective giving punters that little bit extra for their money.
So cheap it’s practically free bet!
Another type of spread betting bonus is the “free bet” promotion. This allows you to place a bet for free (unsurprisingly) when you first open an account. Naturally these free bets often have onerous terms making it more difficult to withdraw the money but at the end its money!
No matter how low-cost, the risks are always high
The main thing to remember is that a lot relies on you knowing what you are doing, whether or not you are getting spread betting bonuses. Spread betting can be anything but cheap if you are unskilled or don’t understand anything about the markets you are trading, but it can also be a good way to earn short term income. However, cheap spread betting is an absolute must for anyone who is aware of, and most importantly, understands the risks involved. It’s also great for beginners who are on a budget and want to minimize risk and spend the least possible.
Spread betting is fairly simple, flexible, convenient and in some cases, the cheapest option for gamblers. Plus, opening an account is extremely quick, painless and above all registration is free. Bonuses are also usually offered to those who are opening up new accounts. Add that to the fact that you completely are often completely free of any spread betting taxes and you’re onto an extremely low-cost and budget spread betting formula!