Best Thread Capital Spreads

wasp said:

Shame we can't sneak in a buy ready for it to come back in line!

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LOL. that would have been good! I will not have complained after that. :cheesy:

The number of incorrect prices seems to be way way down and trade fills are almost (but not quite) 100% now.

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Really?, after over two years practice as well…..!…..breathtaking, if not gobsmacking stuff….

I’ll post here what I posted on the How can Finspreads be regulated by the FSA? Thread

The message is “don’t deal with betting shops that offer apparent ‘parallel markets’ trading” imho….

By betting shops, I mean Fins/Caps/IG/D4F and various other suspect offerings (read the relevant threads on T2W for confirmation of the problems)

For a deposit of circa £10,000 with IB, you can trade (for example) 10 contacts YM ($50/point) direct in the market with a 1 point spread.

True, for a deposit of approx £5000, you can trade at £100/point with an SB, but your cash is exposed to dodgy practices in the SB’s favour that the FSA seem impotent or indifferent to deal with….

Just my view…….

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There may be something in it......

mickandpete said:

Simon
Much appreciate addition of your charts
However there is a problem
For example GBP/CAD has a spike down to 1.4 (market 2.06 app)
The chart therefore condences to a thin line to accomadate the spike
Daily and weekly charts affected so will be present for a very long time
Any chance of a cure
This is not an isolated incidence but above a good example

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I have mentioned another spike that they had a few days back (think it was on the EUR/$) - see earlier post in this thread - but there was no such spike on the forex brokers charts (eg www.dailyfx.com) - if i had an order (limit or stop) would that have been triggerred?????

More International Indices

Simon

Could we have more international indices featured, especially the Hong Kong HSI, Australian ASX, Canadian TSX, Spanish IBEX and Italian MIB. Any others, particularly relating to China, Brazil, Russia, South Africa and India would be good. At the moment I'm pretty much confined to trading ETF type funds and/or with D4F who cover some of these.

Much obliged.

mickandpete

we are trying to correct it at this moment

simon

Tradesmart

dodgy practices... what dodgy practices.....every body always says this but it generally just means that a client made a bad trade and expected to be let out of it. As a matter of absolute fact nobody has ever complained about us to any authority about fills/fairness etc etc. For somebody to say, with a straight face, that the FSA is unable to do anything about unfair market practices obviously has no concept whatsoever about how that body functions.

The majority of the trades on our platform are in FX and Shares (not the indices) and it is very difficult to beat our prices in these markets on a consistent basis.. when you take into account commissions and stamp duty and (yes) capital gains on your profits.

If you lose money trading, no matter what form that trading takes then it matters little that you can offset the losses against other trading gains .. as in reality where would these trading gains be to be offset against...If you consistently lose money trading then my advise is.... DO SOMETHING ELSE TO MAKE MONEY...if you are a consistent winner when trading then SB should be the route that you use because of the tax implications.

In reality the biggest winners are not the scalpers but the disciplined holding of winning positions and the disciplined cutting of losing ones.

Simon

Simon,

Is their any update on longer trading hours for fx.

Thanks,
Breadman

capitalspreads said:

....In reality the biggest winners are not the scalpers but the disciplined holding of winning positions and the disciplined cutting of losing ones.

Simon

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Well you're absolutely right there....in order to facilitate such a way of working, when is your 24 hour FX coming in so that we CAN cut losers with discipline on the longer positions without risking enormous overnight slippage???

(Sorry, but I couldn't resist)

Exactly, without the 24hr trading it is not possible to be strictly disciplined in that manner.

dodgy practices... what dodgy practices.....every body always says this

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“every body always says this” I wonder why? – Simon, the PR’s slipping a bit now..

There has been much apparently justifiable criticism - Is a siege mentality creeping in?

Forget about the expression “dodgy practices” and lets describe them as ‘inefficiencies that are not in the clients interest” to make the situation more palatable for you to get a handle on.

I can understand you being stung by the constant criticism, but I feel that you should address the recent posts on some of the shortcomings of your operation by T2W contributors that you have ignored; just to remind you of why the obvious paranoia of stating, “every body always says this” is particularly ominous.

1.Had a bad day with CS as well today, took ages (well, 2-3 minutes) for my orders to get filled (albeit at the right price) after the nfp data...dwaddell

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2.I tried using CS on NFP day and its a nightmare...it seems that if you hit the tab and the price has gone more than 5 pips in your favour after waiting an age, they give you the 'price no longer valid' sign! But if you hit the tab and it has gone more than 5 pips against you whilst you wait you will get filled! Halzeigler99

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3.yes serious delays sometimes I get filled sometimes I don't. Most frustrating was trying to exit my trades . coolTrader

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4.My stops were being trigger even though I could not see the price getting to where it was – coolTrader

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5.when is your 24 hour FX coming in so that we CAN cut losers with discipline on the longer positions without risking enormous overnight slippage??? – Broadsword

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]6.grrr - Capital's rolling fx quotes turned bad again and the system switching to telephone only. This happened at the release of the FOMC minutes (understandable if the system got overloaded with volume, or something) but it also happened again right now when there is nothing big going on in the mkt. abobtrader

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7.Last month Capital’s spread was around 30c – this month around $1.20….!?! – tradesmart (derived from the demo platform) strange and not exactly an encouragement to trade..! “At Capital Spreads , we keep our spreads permanently tight to give you more room for profit”.?!?

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8.The whole idea of a customers trades being manually accepted or rejected by a human dealer at their end (who might be chatting to his colleague, leaving the client waiting for trade confirmation) just seems a bit amateurish in 2006 – jtrader

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9.I've said it before, but I am astonished that people persevere with Capital Spreads.

I made 6 trades yesterday afternoon after NFP (and plenty of money) with D4F.
The first one which was to close a trade on the initial spike at 1.30pm was requoted, but very quickly (about 15 seconds).; this cost me about 3 pips. - But this is acceptable in a very fast moving market after news.

Every other trade was very quick and smooth as always. - I place 5 - 10 trades per day and I just never have a problem.

Why do people persevere with a clearly inferior platform? – mburge

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10.I'll start using them again, as soon as they honour stops and limits 24 hours a day...BroadSword

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Enough…?

“DO SOMETHING ELSE TO MAKE MONEY” (shouted - irate?) now that’s a tad impetuous from the CEO..! – there are potential customers reading this – are you losing the plot…?

And are you suggesting that your existing disenchanted clients vote with their feet…?

I reviewed your demo platform some time ago, and it would seem that little has changed; in fact it seems to have deteriorated.…..why should those interested in financial spread betting use your service….?

T S you are clearly a force to be reckoned with !


P S ......I bought a shirt in 1983 and it does'nt fit ........any chance you could take it back for me and demand a refund ?

Regards C V

Well I hear that a couple of the dealers run a couple of those late night babe channels from a spare office hence theres been a reluctance to go 24 hours with things.

Still might make late night dealing a bit more interesting whilst you wait for the ticket to go through, something to goggle at.

all good fun.

I reviewed your demo platform some time ago, and it would seem that little has changed; in fact it seems to have deteriorated.…..why should those interested in financial spread betting use your service….?[/QUOTE]

So why not go somewhere else, or do something else???

Alternatively, as you clearly have an excellent grasp & knowledge of the varous pitfalls etc etc etc etc etc etc etc of trading........just include it all in your Money Management plan.

Hope these two thoughts may lead you to a more enlightened and more cheerful approach to your trading and perhaps even a prosperous new year.

They say its the season of miracles.

a more enlightened and more cheerful approach to your trading

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No problem there son..

P S ......I bought a shirt in 1983 and it does'nt fit ........any chance you could take it back for me and demand a refund ?

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Hello CV – My Mum tells me that Marks and Sparks have changed their refunds policy, so you’re likely out of luck…..!

I always read Simon’s posts because there are some trading gems in them…”In reality the biggest winners are not the scalpers but the disciplined holding of winning positions and the disciplined cutting of losing ones”

Some trading coaches would charge you big money for that……

Thanks anyway

[/QUOTE]

So why not go somewhere else, or do something else???

Alternatively, as you clearly have an excellent grasp & knowledge of the various pitfalls etc etc etc etc etc etc etc of trading........just include it all in your Money Management plan.

Hope these two thoughts may lead you to a more enlightened and more cheerful approach to your trading and perhaps even a prosperous new year.

They say its the season of miracles.[/QUOTE]

??? HUH ???

For those who are thinking of spread betting DON'T USE CAPITAL SPREAD. I can go into a lot of pitfalls. I had a fill 10points from the market price no "price has expired" it always seems to be the same dodgy dealer that handles these trades. Simon unless you have a policy on certain clients to deliberately delay their trades I suggest you look at the dealers with the most "dodgy" executions. I just executed a short price was rejectd by the time the ticket came back it was 1point away. I don't know but then again maybe you know.

You say no one has ever complained to FSA. Well i have a clear case I won't say what as I have not decided if I can be bothered to take it up yet, but just don't come out here trying to deceive people.

I forgot to add..
When you are in a position the price freezes , try opening trade history and the whole computer freezes.surely this system cannot be FSA complaint. Did FSA request to see these report? I very much doubt it.

Trading is difficult enough... No need to make your life harder using CS...

wasp said:

Trading is difficult enough... No need to make your life harder using CS...

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Yes.

Hi capitalspreads
How come CMC, finspreads, etc. etc. all offer automated execution of trades during all market conditions and even during major news releases, but CS can only offer manual execution/confirmation of trades, completed by a human dealer in your office? If it works well for CMC and finspreads, why does CS use human dealing only, and not automate the execution (or rejection) of trade requests?

Why are CS dealers human beings and not computers? Do you consider human dealers to be more efficient than automated computer dealers? If so, in what ways?

Can a computer dealer, not reject a trade request if the price in the underlying market has gone, or place a hedge on a trade just like the human dealer can?

I think that capitalspreads have been a refreshing addition to the list of spreadbet companies. Your honesty and willingness to discuss how CS operates, on this website, have typified this. I regard CS to have the best spreads of all the spreadbet companies in the markets that I want to trade, and so would want to trade with CS.

I'm not saying that the current system of human dealers does not work or is not efficient. I do not know as I haven't (yet) traded with CS. But if you sort out this aspect and are able to offer the same method of execution that CS' competitors are able to offer, alongside CS' favourable spreads, I reckon more customers will trade with CS.

I could not believe reading on another thread that finspreads had closed a customers account after he made £31k in a few months, without a viable explanation other than they did not like his trading style.

Do Capital Spreads want a mutually financially rewarding and profitable relationship with their customers?


Thanks again

jtrader.

The dealers are dodgy, When Simon and Mark Execute my trades they are fine... I tell you there are rouge dealers there which is why Simon "HAS" to move from human dealing.