You’ve seen the headlines about millionaire traders and bankers, you’ve seen The Wolf of Wall Street and by now, if you’re anything like us, you’ll have wondered how you can get a piece of that action for yourself. After all, sky high salaries, smart suits and big bonuses can’t be as bad as they make it sound on the news can they?
In the old days the financial markets were a closed shop. If you were destined to make your way in the City then you’d have known about it by the same time you started wearing long trousers.
A time for talent
In 2015 things are a little less regimented. Formal trading firms are still largely dominated by people who have a family connection of some sort – something that is actually true of most businesses. But it is also an environment where talent is valued as highly as it is on the sports field. In winner take all environments there is no substitute for winners, whatever their background.
All well and good, but how do you prove yourself if you’re not in the game? It can feel like an unfair Catch 22 and it is a scenario that has frustrated many a would-be trader.
But if you think you have what it takes to make money on the ups and downs of the Dow Jones there is a way to prove it. It is relatively inexpensive – certainly by comparison with traditional share dealing – it has the same potential for profit, and it relies on precisely the same combination of insight, judgement and nerve.
An open market
Financial spread betting, as promoted by the London-based Tradefair organization, gives ordinary men and women the means to trade derivative based products that reflect exactly the movements of the world’s stock markets. Tradefair are leading the way in making it possible for anyone to enjoy the same access to the markets as the professionals.
Painstakingly encrypted software apps enable investors to place bets on the movement of either individual stocks or entire indexes or even currencies. The sort of financial spread betting that Tradefair provides is designed to allow that same investment opportunity but at a fraction of the normal price.
Whereas Wall Street traders might have to buy and sell millions of dollars’ worth of stock to cover their costs, financial spread betting allows everyone to trade from just a few dollars. In effect, it is a bet against the movement of a stock. That means that no buying or selling actually takes place. Instead what are termed ‘contracts for difference’ are established.
It is entirely up to your reading of the market as to how much to put at risk, just as it is a matter of judgement as to when to close the deal. Financial spread betting puts you right in the beating heart of the market. It offers precisely the same experience as those million dollar traders on Wall Street enjoy.
The Tradefair apps and those of their competitors provide extensive market information, including historical trends as well as live news feeds. The hair-trigger quality of the market is brought to life direct to your desktop.
If this sounds a bit daunting, have no fear. Unlike the Catch 22 of a closed shop, trading providers are sympathetic to your position. There are free-to-use training modules that will allow you to educate yourself and to test your judgement in real time before you put so much as a penny at risk.
If you’ve ever fancied that Wall Street lifestyle, you now have a way to make it happen. Those Wall Street Wolves no longer run closed shop.