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Online Share Trading

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Worried!

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swordfish
Frequent Contributor
if you go via reserve bank ( to get clearance ) how long does that take, weeks ????
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SimonPB
Valued Contributor
I got a tax clearance in 2 days ..
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Not applicable
You don't get clearance from the reserve bank, you get it from SARS. As to how you deposit the money into IG, I don't know, your bank should be able to advise you. Listen very carefully to what Simon says, it is definitely illegal to use your credit card for this type of transaction, and I can tell you that these guys are tredding on thin ice if they think they will get away with it - I would definitely advise SA clients to keep your money away, if they continue with this practise. Just ask any of the poker websites what happens if the gaming commission decides to have a go at you!
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swordfish
Frequent Contributor
thanks simon. tell me more about you trading the ausie future. what trading platform / broker are you using, and what are the margin requiermant. ?
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SimonPB
Valued Contributor
skaaptjop .. IG will get away with it, but leaving the client carrying the now burnt can .. SARB is focusing on credit card payments going out, but also with holding cc payments coming back in asking where from, was it declared on way out etc. .. friend has a coupe hundred K in suspence acc at a bank while SARB ask questions he can't answer ..

an yip me pokerstars money all gone .. they assured me all was perfectly safe an dandy, until it wasn't ..
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SimonPB
Valued Contributor
ALSI future not aussie .. I trade it here ..
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Not applicable
Ja, I have to say, there is something about the way IG operates that gives me the heebie geebies. CAn you just imagine the size of their currency trading exposure if they are the counter party with those trades too?
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SimonPB
Valued Contributor
thay probably off set most traders against each other , as far as possible .. but that'll ony work in certain positions and that'll be a tiny fraction of the 100k or so products they offer .. than do what CMC did in OZ .. grade traders A, B and C .. A traders you hedge totallly coz these traders make money .. B traders kinda hedge as they loose most of the time .. C traders never hedge ast they'll wipe out ASAP ..
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Not applicable
best thing you can do with SA gold mines is to wait until the rally runs out of steam, the price starts to turn, and then short the heck out of them. Returns will be far higher than the gains into a gold rally
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Quakedog
Super Contributor
Well if you look at the graphs from 1996 we have only been this high 3 times and all 3 were short lived! mmmmmm So keep going!!!! Yeehaaauw!
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Quakedog
Super Contributor
Sorry I was refering to the Nasdaq in last post! Ours is worse!
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john_1
Super Contributor
how F###ing stupid do you have to be to go bang as an online casino...geez!
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SimonPB
Valued Contributor
didn't go bust, broke the law .. online ganbling is illegal in the US ..
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