Still unknown outside the well-positioned spread betting market in Britain, Forex.com took the significant ‘Dealbook’ spread betting platform to Russia. The recent display of acquisitions and mergers resulted in much broader consequences than one would normally expect and the GAIN Capital’s buys of GFT seems to be a novel piece of evidence that would support this notion.
The deal, that became final and executed last year now commenced in showing all of its dimensions among them is the fact that Forex.com has now since become the first FX broker to provide spread betting to the general Russian market.
This invariably came to fruition following the integration of the GFT into Forex.com in Britain and the broker is presently marketing the Dealbook platform to its Russian clients as well. Dealbook is regarded as the multi-asset platform in support of a diverse class of instruments with Forex.com placing more thought on the spread betting services it provides its clients.
To better understand the interest of potential clients, the same provides spread betting on more than 3,200 instruments, including indices, non-conventional currency pairs and most importantly equities. Regarding the former, it is worth considering that traders can better spread bet on the USD/RUB pair in correspondence with the overall global rise in demand for ruble liquidity.
Generally linked with British firms, as a result of Britain’s rigid taxation laws to profit from trading or betting which differs to an extent that spread betting offers traders a chance to benefit from both rising and falling markets. Traders placed bets on specific spread of a given trading instrument and then get to the losing or winning side depending whether the market moves in the forecast direction.
The dimensions of the possible outcome is highly dependent on the stake size. On this regular basis, it became a trend in trading method in Britain as it was classified towards a profitable taxation scheme. It sometimes require a particular platform, hence the relative absence of MetaTrader 4 in the U.K.’s spread betting and CFD-oriented market.
In contrast to the said service, it is barely known to the Russian online trading world that there is nothing very astonishing about it and one of the major advantages is always cited regarding spread betting is that it is suppose to be tax free for British citizens as being far less relevant elsewhere from a global perspective which this specific format forms a hallmark for U.K. trading firms.
For the time being, spread betting still remains to be tax free in Britain, but chances are that this may be subject to change. Last year, U.K. lawmakers aired out their concerns that their intention to reconsider the tax law regarding spread betting and to close the same was regarded as a loophole.
In Britain, spread betting still has the undisputed status as gambling, but in Russia the area is more difficult to clarify. Spread betting has not status assigned by regulators which is not much of a surprise considering that Russia does not have any firm rulings with regards to online trading, as its development of a full and comprehensive regulatory structure is still in the process of development.
The present version of the FX bill in Russia does not include any real specifications or classifications of sub-activities of online trading, for example, there is no mention at all of binary options or copying of trades. It is also possible that there are more details to appear in the revised version of the FX bill set to have its second reading at the Russian parliament in the coming months.