Retail broker TRADE.com told Finance Magnates on Wednesday that it has launched a spread betting service.
Customers using the spread betting offering will have access to several different markets and will be able to bet on more than 2,100 instruments.
Unique to the UK and Ireland, spread betting, as its name implies, allows someone to bet on outcomes in the financial markets. Its main appeal is the fact that any winnings are tax free.
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A true multi-asset brokerage
Trade.com’s UK subsidiary, which is licensed by the Financial Conduct Authority, has set up new offices in Paddington, London, to serve its UK and Irish clientele with its current product range, as well as the newly added spread bets. The company will also be providing a set of tools, classes, and educational material to spread betters.
“As part of our expansion to become what we hope is the ultimate multi-asset brokerage, we are adding spread betting for our investors in the UK and Irish markets to our set of financial products,” said TRADE.com CEO Roei Gavish.
“These include an IPO marketplace, asset management services, direct market access and thematic portfolios. Our goal is to democratize investing so that everyone can have access to capital market solutions that suit both their objectives and investor profiles.”