CMC?

Bluegrass

Hi lads, first time poster, long time lurker..

Basically, I need to come up with a lot of cash as soon as possible, for an operation I need.

Long story short, I don't have health insurance and I don't want to go public in Ireland. Not only will I be waiting for years, but the type of operation I need wouldn't be specialized by surgeons over here.

I need to invest, or take a huge gamble. ASAP! Would anyone recommend CMC Markets for this? I really don't have loads to invest or take a risk with, I am really stuck in a rut here BIG time and heavily depressed.

Can anyone suggest anything?

Liam D Ferguson

Hi Bluegrass,

Sorry to hear about your illness.

I wouldn't recommend that you try to gamble your way to the cost of an operation. There's a fundamental rule of any type of investing that says that the level of risk involved in an investment is directly related to the potential for return. So if an investment (any investment) has the potential to make you a lot of money in a short period of time, it also has the potential to lose you a lot of money in a short period of time. Look at the warning on the front page of the CMC website: "Losses can exceed your initial deposit, so ensure you understand the risks."

How much do you need to raise for the operation? How much have you got?

turbobaby

I would agree with Liam. You only have to read a couple of threads here or in the gambling forum to see many many disaster stories. There is certainly a better option out there.... Bank loan, medical tourism etc.

If you provide more details people on here might be able to point you in the right direction.

Bluegrass

Thanks for the replies, as it stands I have been unemployed about 6 months now so won't qualify for bank or CU loan, and I am currently paying off a CU loan as we speak.

I have about €1500 I need to raise about €9-10k really.
I know I haven't got much, and will be twice as f*cked if it went wrong on me.

But I need to do something.. and buying €1500 worth of lottery tickets won't be an option ha

Liam D Ferguson

Although you're unemployed have you actually asked the CU for a loan? If you've been good about repaying your existing loan they might be willing to accomodate you, given what you need it for. I know the CU ethos is meant to be a bit more "human" than the commercial banks. For example, if they were willing to lend you €8,500 over a 10 year term, the monthly repayments at 7% interest would be under €100 per month. Could you stretch to that?

Any good friends or relatives who could give you a dig out, or a loan? Have you spoken to any of the charities, e.g. St. Vincent de Paul? If they're made aware of your need for an operation, they might be able to help.

I know you might not like to look for charity from people you know or from a charity, but if you need the money for an operation, you've got to do what you've got to do.

If you get sorted and get a job again, you could pay everyone back over time.

Bluegrass

Thanks for the replies Liam, thing is I was in the CU to get my repayments reduced as a result of being unemployed and they were extremely helpful so another loan is out of the question.

As regards the family/friends, many of us are in the same boat money-wise, and it would be unfair to ask.

Really kind of stuck here aren't I.. That's why I said I'd see what I could do from here.
Seems to be my only option but then it could make my problems a hell of a lot worse.

Really don't know what to do

liammur

Bluegrass wrote: »

Thanks for the replies Liam, thing is I was in the CU to get my repayments reduced as a result of being unemployed and they were extremely helpful so another loan is out of the question.

As regards the family/friends, many of us are in the same boat money-wise, and it would be unfair to ask.

Really kind of stuck here aren't I.. That's why I said I'd see what I could do from here.
Seems to be my only option but then it could make my problems a hell of a lot worse.

Really don't know what to do

IG Index are better than CMC imo. Lower spreads and no nightly charge.

Bluegrass

Does anyone actually make any decent money out of it? I'm going to do as much research as I can about this, but would like some insight from people who are experienced and can offer me a helping hand maybe. All opinions and views welcome, thank you to all who replied.

Edit: Looking to try it out with maybe €100 would this be possible? Just to test the waters?

liammur

Bluegrass wrote: »

Does anyone actually make any decent money out of it? I'm going to do as much research as I can about this, but would like some insight from people who are experienced and can offer me a helping hand maybe. All opinions and views welcome, thank you to all who replied.

Edit: Looking to try it out with maybe €100 would this be possible? Just to test the waters?

PM me. IG will allow you do tiny trades to start with. Far better than CMC imo.

Bluegrass

Thank you, will PM

turbobaby

I would strongly advise against getting involved in something like spread betting to be honest.

You are looking for a 600% return on one single deposit, in a short period of time, with no experience and in rigged markets where you will more than likely be eaten alive.

I have had many bets down through the years and the feeling in your gut when the last penny is gone is not a feeling I would wish on anyone.

There are surely better options available. Does the injury impact your ability to work?

Liam D Ferguson

turbobaby wrote: »

I would strongly advise against getting involved in something like spread betting to be honest.

You are looking for a 600% return on one single deposit, in a short period of time, with no experience and in rigged markets where you will more than likely be eaten alive.

I have had many bets down through the years and the feeling in your gut when the last penny is gone is not a feeling I would wish on anyone.

There are surely better options available. Does the injury impact your ability to work?

+1

If there were people out there who could advise you how to get a 600% return on your money, I'd sell everything I own including my house and buy it all back a few months later.

I'm sorry to sound negative, but if I've learnt anything over the twenty-three years since I started working in financial services, it's that there is no easy and certain way to generate returns greater than deposit interest without taking on a proportionate amount of risk.

So if the amount of return you want to make is huge, as in your case, the risks are also huge. Spread betting is not investing. It's gambling. I'm not against spread betting or other forms of gambling, by the way - they can be entertaining as long as you're limited to using money you can afford to lose. But Bluegrass I don't believe you can afford to lose this money.

turbobaby

One thing I would recommend is going through all the things you own which you could do without. From something like a car to an mp3 player. Put them up on adverts. Every little helps.

You could even pick up a guitar, learn to play a few basic songs and go out busking in the evenings...

If you do want a risk free way of having a little hope of hitting gold, prizebonds would be a better option. No administration fees, they are fair and your capital is guaranteed.

There is absolutely nothing to be ashamed of in asking friends and family for help, especially if its a medical thing. Also, the public healthcare route might not be as bad as you think...