I have a spread bet account and minimum bet is 50p/pip..I have looked at others and most seem to be £1/pip.
Spread is about 3 pips...around about 10 for currency futures.
Mind you if you want to trade commodities as I do some spreads are prohibitive,such as meats which are up to 70 points.
If you have a large account 50p/pip is ok.If you have a small account say £1000 and are using larger S/L say 100 then you are really limiting your trading as you may have to take minimum bets.It would be hard to take larger trades then reduce after a move or increase position as the trade progresses.
I am not certain but reading other post's on here,some brokers offer micro accounts allowing 1p/pip.
They may be better for learning to trade as they offer more flexibility.Depends on your situation.
Your main concern should not be on reducing tax but on being profitable over a reasonable length of time....then worry about tax.
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