FxPro, a Europe-regulated forex and CFD broker, has rolled out FxPro Edge, a spread betting platform for its UK-based clients.
The new spread betting option is visible only to FxPro clients with a UK IP address.
Spread betting – increasingly popular in the UK
Spread betting has become fairly popular in the UK, mainly because its winnings are tax-free. Spread betting is the tax-free way for UK and Ireland residents to take advantage of rising and falling markets without having to buy an asset from the underlying market.
Spread betting is offered as a derivative-based trading product across forex, commodities, indices, equities and bonds.
According to FxPro website, the service is commission-free and the broker adds a mark-up on the spread and swap fees are charged on overnight positions. It is important to emphasize that FxPro Edge accounts are only offered in GBP.
Deal with Watford FC
FxPro is returning to sports sponsorships with a three-year sponsorship deal with Hertfordshire –based Watford FC.
“The past few seasons have been particularly successful for the club both on and off the pitch. By partnering with an award-winning, UK-headquartered company, recognised both for their principled approach to business and for their decade-long leading presence in the financial services industry, we continue to demonstrate our commitment to the values that Watford FC is renowned for around the world,” said Scott Duxbury, Watford chief executive and CEO.
The broker will officially operate as a main club partner as well as securing front-of-shirt sponsorship until the end of 2019/20.
“We believe in the potential of Watford FC, who have proven themselves time and time again to be one of the most dedicated and driven clubs in the Premier League. We are delighted to be acting as main club partners and wish Watford FC every success in the coming seasons,” said FxPro CEO Charalambos Psimolophitis.
The broker has previously sponsored Formula 1 teams BMW Sauber and Virgin Racing. In 2010, FxPro was also supporting Aston Villa and Fulham.