Far from taxing
The UK's spread betting firms have been attracting growing numbers of private investors, primarily because of the tax advantages of spread betting over buying shares. But traditional brokers are starting to fight back. By Alexander Campbell
From its birth in the 1970s, when its customers were predominantly off-duty City traders, the spread betting industry has come a long way. In the UK, 400,000 people now have spread betting accounts, and the industry is forecast to break the 1 million mark by 2011, according to a recent study by the London-based Cass Business School.
It is difficult to determine the exact size of the UK's spread betting market, but the few statistics that are available paint a picture of rapid growth. One spread
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