nutter punter
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They close accounts, delay price quotes and don't give best fill. Am I missing something?
How can Finspreads be regulated by the FSA
- Thread starter nutter punter
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nutter punter
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So what would happen if you ask the FSA to investigate their business practices?
nutter punter
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Has anyone found a way of keeping an account open with them apart from not trading?
Trader333
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nutter punter said:
You're not missing anything because in many respects the FSA is "allegedly" a waste of time. Being FSA registered is like having ISO9000 or equivalent. It just means that you have managed to pass the audit when they come round to check. It doesnt mean that you offer a quality product but it does mean that you have not set yourself up as to acquire funds by fraud.
Paul
tradesmart
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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 many dodgy practices in the SB’s favour that the FSA seem impotent or indifferent to deal with….
Just my view…….
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 many dodgy practices in the SB’s favour that the FSA seem impotent or indifferent to deal with….
Just my view…….
nutter punter
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Kaffee said:
They just stop you from trading on the internet and ask that you only deal by phone. If you do call them it takes so long to get a price you pass a couple of birthdays in the meantime.
fxmarkets
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Office of fair trading maybe ?? or are they outside of that, covered in the small print? yeah if you could record the instances video frequency I mean if they are advertising fills, advertising fast money gains/markets like some can, yet frequency of let downs, deliberate? even if they say that they can not take blame maybe they would need or come under fair trading acts or something because of the blatant rubbish of the product/service..
office of fair trading maybe... hehe i mean hardly is it.......
Sorry I mean Trading Standards
office of fair trading maybe...
hehe i mean hardly is it.......Sorry I mean Trading Standards
nutter punter
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A friend had his account closed this morning. I might offer a course to a few hundred people at 500 quid a go in how to rip them off. I put in 4k a few months ago and have taken 35k off them since with practically no effort.
Closing my account could prove very expensive for them.
Closing my account could prove very expensive for them.
imo cantor is the worst,trades keep getting rejected but not if the price goes against you,not to mention you have to wait 10 or more seconds to see if it your trade was accepted,in hourly markets that's a life time.with regards to fins,i think they should rework their system again,they've got it right for 1 week only since they started binaries.
nutter punter
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Visaria said:
They didn't like his style of trading !
They then said they can hedge their trades which if you think about it means they don't even know what they are trading. Stupid numpties only want losing accounts.
