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Hargreaves team with IG to offer spreads and CFDs

Hargreaves Lansdown has unveiled plans to offer spread betting and contracts for difference trading to clients in partnership with the world’s largest spread betting firm IG Markets.

HL Markets will offer investors access to leading UK and international stocks as well as other trades including forex, indices, currencies, commodities, interest rates, government bonds and metals. 

Investors can place trades and orders online or over the telephone.

Spread betting enables investors to deal in the price movements of a range of instruments, without owning the underlying asset. The aim is to profit from the price moving in their favour, however it can carry a high level of risk to capital with the possibility of losing more than the initial investment.

Spread betting positions have an expiry date which can be daily, monthly, or quarterly, at which point the trade is automatically closed or rolled over by the trader. CFDs do not have an expiry date and levy a daily funding charge for long positions held overnight.

Like CFD trading, spread betting is free of stamp duty and it is currently exempt from UK capital gains tax.

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  1. So Hargreaves Lansdown don’t like structured porducts but they are willing to take a financial ‘cut’ and let people lose money with IG of CFDs and spread betting (gambling with a fancy name)

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