Hi,
I have been using a spread betting account on IG for a few weeks now. I've held long/short positions. Bought and sold in the same day. Bought and held for positions for weeks.
Whenever I read something about spread betting I keep hearing people say things like “Don't do spread betting if you intend to hold your position for a long time, the fees will eat you alive”
Am I missing something? The fees are tiny… What fees are these people talking about that would “eat your account alive”?
I assume they were referring to the overnight charges. I have a position I have held onto for a long time and it's around the £7000-8000 value. This position is costing me under £1 per night to hold.
If that's eating anyone's account alive, they probably shouldn't be trading.
So am I missing something here? I'm wanting to put all my money into spread betting as I see no downside. I already have an ISA before anyone suggests I should do that.
Many thanks
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