Three year rule
Hi all, as FI is now three years old, is there anyone here who bought in from the start, and if so have you had to sell your initial purchase or have you lost all the futures in that player?! Or was the timeframe extended?! Cheers
I’ve been on here since 2 April and I guess they sold them then brought them back as they didn’t stand them in much from the start
They announced a 12 month extension on shares coming up the expiry date
There was also a suggestion in friday's meet that the 3 year limit is under review though im not sure how this would work with gambling regulations
@NewUser101141 it has been extended by 12 months. FI said there were less than 20 shares approaching a 3 year hold and average share hold is 2 to 3 days.
Ah ok, thanks for the info! Interesting as if FI extend the three year expiry they will lose lots in commission from selling then re-buying?!
im slightly confused by the fact they can legally extend the 3 year hold rule. my understanding is that the futures had to have a specific end date, i.e. 3 years, to differentiate them as bets rather than investments? As with investments you have to pay tax, whereas bets you dont. Any thoughts / insight?