KYTE launches new zero tax spread betting service

The Kyte Group Ltd, an integrated clearing and broking service provider for professional traders, has announced the launch of iBet, a new spread betting service that aims to allow traders to take advantage of a zero-tax regime when placing spread bets on market movements.

iBet allows for flexibility regarding choice of high speed platforms with which to place spread bets as the service is compatible with most industry-standard software platforms. Traders can place orders in a variety of ways, from simple point and click, to auto-spreaders and fully automated systems.

Peter Green, CEO of Kyte Group said, "We are excited to be able to offer new and existing Kyte clients a very attractive new product. iBet will allow them to trade efficiently in a beneficial tax environment with the speed and execution needed to operate in today‟s fast moving markets."

iBet provides traders with price transparency as it references underlying futures markets and charges a commission per lot instead of adding a "spread‟ around the actual quote.