Bucket shop if i've ever seen one!

barryb · Nov 21, 2008

Have a look at this SB company, what a bucket shop it is! Not only does the whole sight look like a GQ advert, but if you want to speak to them on the phone, it will cost you 85p per min, an 0906...number. Joke!

ShortsandLongs.com

price777999 · Nov 23, 2008

barryb said:
Have a look at this SB company, what a bucket shop it is! Not only does the whole sight look like a GQ advert, but if you want to speak to them on the phone, it will cost you 85p per min, an 0906...number. Joke!

ShortsandLongs.com

risk free trading for 2 weeks though.

UKtradergirl · Nov 23, 2008

barryb said:
Have a look at this SB company, what a bucket shop it is! Not only does the whole sight look like a GQ advert, but if you want to speak to them on the phone, it will cost you 85p per min, an 0906...number. Joke!

ShortsandLongs.com

These people are part of Spreadex. One of the guys that works for them is on this forum, perhaps he will drop by and reassure you that they are a legit company (lovely fella too he is). They are also regulated by the FSA. I'd go with them anytime over a foreign company or one with no regulation or protection of funds. I agree the premium rate number isn't a great idea though.

As for the bucket shop arguement-- some people say every spreadbet company is one. It is a fact that they cannot hedge every single bet exactly in the market, especially bets like £1 a point which are only parts of contracts, not whole ones. I do believe however that they take a view on the sum total of their clients positions and hedge accordingly. Which is great by me. Prices are accurate too.

Splitlink · Nov 23, 2008

Those who describe SB companies as "bucket shops" do not know the meaning of the expression, which I came across in what was purported to be Livermore's biography.

With a bucket shop trade, you were given a spread and, if you were buying, the sell price constituted the stop level. So, when you opened a trade, you were not allowed to trade at a loss greater than the opening spread. As most of us know, this is, in most cases, an impossibility.

Split

arabianights · Nov 23, 2008

It's a legit company, but a nauseating website that puts me right off.

Hoggums · Nov 23, 2008

I thought it was an escort agency when I saw the picture.

shadowninja · Nov 23, 2008

That's... different.

In my previous incarnation, rather than Sniper Kitten, I would have signed up, of course.

nine · Nov 23, 2008

Splitlink said:
Those who describe SB companies as "bucket shops" do not know the meaning of the expression, which I came across in what was purported to be Livermore's biography.

With a bucket shop trade, you were given a spread and, if you were buying, the sell price constituted the stop level. So, when you opened a trade, you were not allowed to trade at a loss greater than the opening spread. As most of us know, this is, in most cases, an impossibility.

Split

I think you're being too specific Split. The term is more general:

Bucket shop - Wikipedia, the free encyclopedia
Bucket shop (stock market - Wikipedia, the free encyclopedia)

Neither fully match the spreadbetting model although this component is pretty close:
"They were typically small store front operations that catered to the small investor, where speculators could bet on price fluctuations during market hours. However, no actual shares were bought or sold: all trading was between the bucket shop and its clients. The bucket shop made its profit from commissions,"http://cisco.com/

barryb · Nov 24, 2008

Splitlink said:
Those who describe SB companies as "bucket shops" do not know the meaning of the expression, which I came across in what was purported to be Livermore's biography.

With a bucket shop trade, you were given a spread and, if you were buying, the sell price constituted the stop level. So, when you opened a trade, you were not allowed to trade at a loss greater than the opening spread. As most of us know, this is, in most cases, an impossibility.

Split

You're being pedantic. Of course there aren't any SB companies that operate as a bucket shop, they're from a different era as you so rightly state. However this SB company in my view tick the same boxes as Livermore's bucket shop sharks who courted his business before they knew who he was. Examples being through the literature they've attempted to attract custom, such as...

"Winning comes easy to you. You're focused. You work hard, play harder. Money's good. The career's dazzling. But you're always hungry for the Next Big Thing. You're ready to trade with ShortsandLongs.com (S&L)."

"Enjoy the thrill of the trade and the chance to make significant profits without the risk of a wipeout."

What a load of rubbish. Companies like this represent modern day bucket shops, willing to take your money freely at the start but when you do well against them their service becomes questionable. And if you want to pay 85 pence per min to speak to someone you're giving business to spitlink and tradergirl, be my guests, i won't be joining you.

Splitlink · Nov 24, 2008

barryb said:
You're being pedantic. Of course there aren't any SB companies that operate as a bucket shop, they're from a different era as you so rightly state. However this SB company in my view tick the same boxes as Livermore's bucket shop sharks who courted his business before they knew who he was. Examples being through the literature they've attempted to attract custom, such as...

"Winning comes easy to you. You're focused. You work hard, play harder. Money's good. The career's dazzling. But you're always hungry for the Next Big Thing. You're ready to trade with ShortsandLongs.com (S&L)."

"Enjoy the thrill of the trade and the chance to make significant profits without the risk of a wipeout."

What a load of rubbish. Companies like this represent modern day bucket shops, willing to take your money freely at the start but when you do well against them their service becomes questionable. And if you want to pay 85 pence per min to speak to someone you're giving business to spitlink and tradergirl, be my guests, i won't be joining you.

No, you are quite right about the company to which you are referring. I'm afraid that I am inclined to defend SB companies because of various posts that appear on the spreadbetting platform. Most of these complain about matters with which I, who have been spreadbetting for donkey's years, have no experience, at all.

These posters refer to "bucket shops" all the time but there is a great difference between them although they are, by no means, angels. Neither are brokers, by the way.

If I, ever, have a grouse against mine, you will hear me loud and clear. Until then, my motto is "live and let live".

Regards

Split

barryb · Nov 24, 2008

Splitlink said:
No, you are quite right about the company to which you are referring. I'm afraid that I am inclined to defend SB companies because of various posts that appear on the spreadbetting platform. Most of these complain about matters with which I, who have been spreadbetting for donkey's years, have no experience, at all.

These posters refer to "bucket shops" all the time but there is a great difference between them although they are, by no means, angels. Neither are brokers, by the way.

If I, ever, have a grouse against mine, you will hear me loud and clear. Until then, my motto is "live and let live".

Regards

Split

That's fair enough, I have nothing against good SB firms either as i regularly use them myself. However i do have a problem with companies that market themselves like this to the retail investor, portraying trading as glamorous and exciting which appeals to all the wrong senses in the human psyche in order to be successful.

Regards

BB

Bucket shop if i've ever seen one!

barryb

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