Did you know that you can download the IG Index App and access all of the spread betting markets on the iPhone and iPod touch?
The IG Index App, which can be downloaded from the iTunes Store, allows you to access all the functionality and markets. You can still make money and place bets on the financial spread betting markets with your iPhone.
What is Spread Betting?
Spread bet is becoming an increasingly popular way for financial speculators to make money. Spread betting involved betting on the outcome and changes in the market. You’re basically buying/selling shares, and them making money from them by selling them at their peak before the share prices drop.
Let’s look at an example. Say that in February you believed the FTSE 100 index’s value of 6,500 was too high and that the share price s would fall the following month or two. You can then go to a Spread Bet City Index for a quote – it gave you a FTSE 100 price for the third week of March for 6,700-6,690. If you think that the index value will drop below this range then you can sell the index and make profit. On the other hand, if you think the FTSE 100 index will be higher than this range, than you can buy the index and sell when it reaches its peak, making a handsome profit.
The way spread betting works is that you are always given a quoted spread from a city index e.g. 567 – 565. When you bet on the market, you make/lose money for every amount you stake per point. For example, if you stake £10 per point, and you sell the stock at 570 (3 points above the city index spread), then you will have made 3×10 = £30 profit. Likewise if the index falls below the spread by 10 points than you risk losing £100.
The main advantages to spread betting are that you can make a ton of money by correctly predicting the market. You can also try sports spread betting, for instance where you can bet on the spread of goals in a match between Man Utd and Liverpool. Once you believe the market has peaked you can offload your stock at any time and make a profit. This gives you a lot of flexibility with more liquid capital. The downside to spread betting of course, is that you can end up losing a lot of money very quickly if you get your calculations or market predictions wrong. If your stock ends up 20 points lower than the spread and you bet on it increasing, than you can potentially lose up to £200 if you wager £10 per point.
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Because of the debts that punters can entwine into, spreadbetting companies are usually very wary about bad debt and they will only extend credit to investors who can meet any heavy losses. Still, unlike conventional bookmakers, spreadbetting firms do not lose on winning bet since they can lay off the risks in the underlying markets. Spreadbetting firms do not mind successful gamblers.