Feeds

Caribbean bookies takes on the world's brokers

A real example of Internet empowerment -- for better or worse

  • alert
  • submit to reddit

Choosing a cloud hosting partner with confidence

IndexTrade.com is to offer Web users the opportunity to buy and sell from stock market indices usually only available to professional traders, even though the company has nothing more than a gaming licence from the government of Antigua. The service allows investors to bet on whether major indices such as the Dow Jones or FTSE100 index will go up or down during that day or week. As such, it is cutting deeper into the privileged financial options of market insiders and breaking down old-school financial barriers. However, any dealings in derivatives come with a host of warnings, and the site is being investigated by the UK's Financial Services Authority (FSA). Betting on indices is an extremely risky business and not for the uninitiated. The IndexTrade service is only the latest instalment in an ongoing argument over the pros and cons of online trading. Brokers have taken the high ground and warned of ignorant individuals bankrupting themselves and destabilising the economy. On the other hand, traders attack the elitist approach of brokers who have a vested interest in protecting transaction costs. Those investing their own cash are more likely to be careful. Plus, say critics, no Internet user is likely to lose £860 million in one transaction -- as Nick Lesson did when he bet on the Nikkei 225 index rising. It didn't and Barings Bank fell. With one in four stock trades now taking place over the Internet, online services will become increasingly important and are set to outstrip legal constraints. With IndexTrade, the FSA has admitted it has no authority to prevent UK surfers from taking advantage of its service. ® Related Stories Woman walks away from $70k online gambling debt

Secure remote control for conventional and virtual desktops

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
Feds seek potential 'second Snowden' gov doc leaker – report
Hang on, Ed wasn't here when we compiled THIS document
Verizon bankrolls tech news site, bans tech's biggest stories
No agenda here. Just don't ever mention Net neutrality or spying, ok?
NATO declares WAR on Google Glass, mounts attack alongside MPAA
Yes, the National Association of Theater Owners is quite upset
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Managing SSL certificates with ease
The lack of operational efficiencies and compliance pitfalls associated with poor SSL certificate management, and how the right SSL certificate management tool can help.