I am sure your anecdotes about your whoring trips to Shenzhen as you outlined to everyone in another thread are drawing a larger crowd than presenting facts about CFDs. In that I wholeheartedly agree with you.
Some other facts that were grossly distorted by some other users earlier: * UK stamp 0.5% (quite high, no arguing about it) * HK stamp 0.1% and I can only repeat what I said, there are many professional prop traders at investment banks and hedge funds who trade intraday positions and are not tax exempt and still make good money. Just saying it is not possible to make money because there is a small duty on stock transactions is naive if not outright lazy. * Korea 0.3% (only on sells) I can list a lot more but I think the point is made that unlike in the UK stamp duty is manageable and nowhere near the levels some claimed the levy to be around the globe. Just trying to keep the facts straight.
your presentation is purposely written to mislead others. unlike you i presented numbers to prove my point. you need to take a course in basic statistics and basic logic. instead of contradicting my numbers you ignore them. that is typical of all snake oil salesman. for the rest of the readers I repeat my previous post:
according to volpunter he has has friends in the hedge funds in hong kong who make 100 basis points per day and are glad to pay the stamp tax. I am going to give the answer to disapprove his assertion. if these so called "friends" were able to achieve this $1 at the beginning of the year at the end of the year they would have $3.48 assuming a .005 stamp tax. there are no such animals on the hedge fund level or on the retail level. my suggestion is to take any of volpunter's assertions with a grain of salt or better still still make it a full shaker if you like a lot of salt.
"there are many professional prop traders at investment banks and hedge funds who trade intraday positions and are not tax exempt and still make good money. volpunter has gone from claiming that his so call hedge fund friends in hong kong have gone from pulling 100 basis points per day from the market to making good money. of course, he presents no numbers. the reason he went that route because is incapable of disputing my numbers that these guys would be making a return of 250%+ a year if his statement was true which it is not. by the way i hear that stevie cohen has tied up the telephone lines incoming to hong kong trying to find these mythical awesome traders.
Below is an official HK stock exchange link listing the trading costs on HKSE, expenses on HK stock trades are much higher than 0.005%, trading fees and stamp tax already come up to 0.2% on a return trip. https://www.hkex.com.hk/eng/market/sec_tradinfo/trancost.htm On top of those one needs to add commissions, which are also higher than in the US( IB starts at 0.088% one way if i remember correctly, a return trip there costs me almost 0.5% in various fees, so I do much less than Volpunter's succesful friends) I'm curious about Zdreg updated calculations.
I have no idea about HK options On Italian stocks it seems to be on the notional but ime it's a small portion of the TT on stocks. I just checked the tax on a trade I did recently and it came to 3euros per million notional
20bps per notional on an options trade is a lot. if you think about a typical vol trade, you will trade 1.5-2x notional to get delta neutral. 30bps-40bps of slippage/notional. For an index like the SPX, that's about 2-3 vols round trip. Not insignificant. Would affect that market a lot probably.