Delta Index expands to Germany

Ireland-based online trading company Delta Index is expanding into Germany with the launch of a new Contracts for Difference product targeted to the German retail market.

The penetration into Germany is set to be Delta’s first step into the European market. If all goes to plans the company is aiming to create 100 new jobs at its Dublin base over the next three years.

CFDs are widely accepted as legitimate financial products in Germany, and the country now boasts an estimated 40,000 active CFD traders compared (with the number growing at a rate of 6% per month) to fewer than 4,000 in Ireland. This figure is projected to reach 250,000 over the next three to five years as the market matures.

The company said it also plans to expand into Spain and Italy later this year.

Thoughts: With the passing of MiFId (EU’s Markets in Financial Instruments Directive) in 2007 financial betting companies like Delta Index are regulated by the financial regulator and this gives them a passport to operate in any EU member country. Both CFDs and spread betting profits are taxable in Germany so Delta is naturally concentrating exclusively on CFDs in that market.

Tags: CFDs, deltaindex, Ireland

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