Spread betting, CFDs, spot or futures: what do you actually trade?

"Trading forex" covers several different products, and which ones you can use depends on where you live:

• Spread betting is offered to residents of the UK and Ireland.
• CFDs are available to retail traders in many places, including the EU, the UK and Australia, but not to retail clients in the United States.
• Retail spot forex is how US traders access the market, through firms registered with the CFTC and the NFA.
• Currency futures trade on exchanges such as CME, with fixed contract sizes and expiry dates.

Leverage limits, protections and tax treatment differ between them. Tell us which product you use, where (a region is enough) and why you chose it. Please don't give others tax advice; describe your own understanding and suggest people check with a qualified adviser.

Background: leverage limits by region and trading forex from the United States.