financial spread betting

[colin813]

Hi

Can anybody point me to the relevent law regarding age on spread betting?

Spread betting is regulated by the fsa and enforced by the financial markets act, however i cannot find any reference to the legal age.

Is spread betting also covered by the gambling act 2005?

regards

colin

[Caspar]

Re: financial spread betting

Spread betting is classed under UK law a gambling because of the risk factor. This means you don't have to pay capital gains or stamp duty on your winnings. I imagine the age fctor would be covered under the legislation for gambling.

[CleverClogs]

Re: financial spread betting

As any contracts entered into would neither be for the essentials of life nor for the (direct) educational or other betterment of the individual, I would expect them to be voidable if entered into by a person under 18 years of age.

It is, of course, quite another matter if any gambler can be said to be fully mature.

[colin813]

Re: financial spread betting

Thank you