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If I live outside the UK, can I still open an account?

Trading Internationally
Written by David

Yes, but spread betting providers will normally ask you to pay some money into your account before you start dealing (i.e. credit betting won’t be available).

Three types of spread betting account may be available at your spread betting company:

Standard Account: If you have a Standard Account, the spread betting company will require a deposit for any bet you open. If prices move significantly against you, the spread betting company will contact you to ask you for the amount of your running losses (a ‘margin call’).

Credit Account: If you have a Credit Account, the spread betting company will not normally ask for a deposit and you do not usually have to pay running losses unless they exceed your limit. Credit Accounts cannot usually be opened online.

Limited Risk Deposit Account: If you have a Limited Risk Deposit Account you are restricted to making ‘Controlled Risk’ bets. Money to cover the maximum possible loss must be placed on the account before a bet is opened.

In any case, whenever a bet is closed the profit/loss is realised and becomes payable. Don’t worry if you are unsure which type of account will best suit your trading – you can always change account types at a later date.

About the author

David

I first cut my teeth in the Square Mile in the winter of 2002. I was young, fresh-faced and straight out of university; keen but maybe a little naïve about the way the investment world really worked… A few years ago I discover a whole new world of opportunity: spread betting on the financial markets.

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