Pepperstone,
the Australia-based online trading provider that integrated with TradgingView
early last year, has now introduced “tax-free” spread betting for its users on the
social charting platform. According to the forex and contract for difference
(CFD), brokerage, its UK customers can now make spread bets on
instruments such as forex,
indices, commodities, and shares, directly on TradingView’s
customisable charts.
Pepperstone
announced the new feature in a statement shared with Finance
Magnatestoday (Friday). The broker noted that its UK-based traders no longer have to engage in
“screen switching” in order to use TradingView while
spread betting on its
platform.
Tamas
Szabo, the Group CEO of Pepperstone, said the feature means its customers
can “trade the
way they want to trade” on TradingVeiw. The feature
will also “transform the trading experience” of the firm’s clients and “present
more opportunities for Pepperstone’s UK clients in the future.”
“Pepperstone
is now one of the only TradingView brokers to provide their UK clients with the
benefits of spread betting,” Pepperstone further
commented in the statement.“Spread betting with Pepperstone means having access to consistently
competitive spreads, low latency, fast execution and award-winning client
service.”
Solid
Growth in the UK
The integration of Pepperstone’s spread betting into TradingView for UK traders
appears to be a strategic move. Last year, Pepperstone’s
profit before tax from its British operations more than doubled,
hitting £4.6 million. In addition, the broker during the 2022 fiscal year that
ended on June 30th saw its trading revenue escalate by 36% to £10.7 million.
However,
the performance failed to beat the trading firm’s output from fiscal year
2020, Finance Magnates reported. Two years earlier, the broker’s
profit before tax came in at £7.7 million, with
revenue jumping to £12.7
million.
In the annual report filed with the UK Companies
House, the broker defended its performance during
the two fiscal years. The company offered a simple explanation: two years
earlier, Pepperstone
UK had European clients under its care; hence, the significant discrepancy.
In
addition, Pepperstone noted that
market volatility triggered by the COVID-19 pandemic in 2020 helped the company
to produce “exceptional revenue and profit before tax” during the earlier period.
CQG Trader platform retires; Twitter to collect biometric data; read today’s news nuggets.
Pepperstone,
the Australia-based online trading provider that integrated with TradgingView
early last year, has now introduced “tax-free” spread betting for its users on the
social charting platform. According to the forex and contract for difference
(CFD), brokerage, its UK customers can now make spread bets on
instruments such as forex,
indices, commodities, and shares, directly on TradingView’s
customisable charts.
Pepperstone
announced the new feature in a statement shared with Finance
Magnatestoday (Friday). The broker noted that its UK-based traders no longer have to engage in
“screen switching” in order to use TradingView while
spread betting on its
platform.
Tamas
Szabo, the Group CEO of Pepperstone, said the feature means its customers
can “trade the
way they want to trade” on TradingVeiw. The feature
will also “transform the trading experience” of the firm’s clients and “present
more opportunities for Pepperstone’s UK clients in the future.”
“Pepperstone
is now one of the only TradingView brokers to provide their UK clients with the
benefits of spread betting,” Pepperstone further
commented in the statement.“Spread betting with Pepperstone means having access to consistently
competitive spreads, low latency, fast execution and award-winning client
service.”
Solid
Growth in the UK
The integration of Pepperstone’s spread betting into TradingView for UK traders
appears to be a strategic move. Last year, Pepperstone’s
profit before tax from its British operations more than doubled,
hitting £4.6 million. In addition, the broker during the 2022 fiscal year that
ended on June 30th saw its trading revenue escalate by 36% to £10.7 million.
However,
the performance failed to beat the trading firm’s output from fiscal year
2020, Finance Magnates reported. Two years earlier, the broker’s
profit before tax came in at £7.7 million, with
revenue jumping to £12.7
million.
In the annual report filed with the UK Companies
House, the broker defended its performance during
the two fiscal years. The company offered a simple explanation: two years
earlier, Pepperstone
UK had European clients under its care; hence, the significant discrepancy.
In
addition, Pepperstone noted that
market volatility triggered by the COVID-19 pandemic in 2020 helped the company
to produce “exceptional revenue and profit before tax” during the earlier period.
CQG Trader platform retires; Twitter to collect biometric data; read today’s news nuggets.
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- Source: https://www.financemagnates.com//forex/no-more-screen-switching-pepperstone-floats-spread-betting-on-tradingview/
