City Index believes investor interest in spreadbetting will continue growing after the Emergency Budget, which left capital gains tax exemption from spreadbetting fully in tact. News that UK Capital Gains Tax has increased to 28 per cent for higher earners (and remaining at 18 per cent for basic rate taxpayers) is likely to impact people who invest directly in the stock market, particularly those looking to take profits in the near future.

However, profits from financial spread betting will continue to be exempt from UK Capital Gains Tax and UK stamp duty, giving investors the opportunity to make tax-free gains.

Joshua Raymond, market strategist at City Index, said investors are finally waking up to the tax benefits of spreadbetting as an investment tool.

He explained, ‘With  the backdrop of the recession and continued volatility, people are taking a greater interest in the markets.
‘Spreadbetting is an alternative way to trade the financial markets, with potential for tax free profits. CGT-free profits continue to be a major factor in attracting new spread betting clients to City Index.’

In  a bid to attract traders on the move, City Index recently launched City Trading, its first iPhone Spread Betting and CFD Trading application that provides access to customers’ trading accounts, wherever they want.

Filed under: CFD News by LearnCFDs.com
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Independent stock market research house Fat Prophets signed an agreement today with contract-for-difference (CFD) provider City Index to offer joint research and trade execution services to investors. Under the agreement, clients of both firms will have access to market research, seminars, introductory discounted rates and multiple mobile and online trading platforms.

Fat Prophets managing director Angus Geddes said City Index, an index and foreign exchange specialist, was a perfect fit to what the firm wanted to offer its clients. “Fat Prophets is our partner of choice when it comes  to stock market research,” said David Trew, managing director of City Index.

The deal follows London-based broker CMC Markets’ agreement last month with HotCopper that will allow the latter’s members to apply for CMC’s products, including shares and CFDs, via the HotCopper website.

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City Index has launched the first live spread betting and CFD trading app for iPhone and iPod Touch. This application is City Trading and it provides City Index clients with full access to their account whenever and wherever they want it.

Judging by consumer reaction and more than 27,000 mobile trades since its launch five months ago, the free application appears to have been well-received. “I now trade CFDs live on my iPhone”. “Great app with all the features of my platform and more”. “Ideal for monitoring positions while on the move”.

Filed under: CFD News by LearnCFDs.com
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