Hi Guys,
This is an attempt to start a new thread on Worldspreads. This is because I think that the old one is full of stuff that just does not belong there. Also it is my opinion that the old thread does not give a fair picture of the company as it is today. It would be nice if we could fill this new thread with some creative and interesting content on the spread betting broker Worldspreads Ltd, http://www.worldspreads.com.
Just for the record, I have no financial interest in Worldspreads Ltd whatsoever, apart from being a trader looking for the best possible deal.
Worldspreads upgraded!
A few weeks ago, Marvin and Worldspreads invited me, as they had promised earlier, to start trading again with instant execution. Back to business again so to speak. This post is a short review on this speed upgrade, which by a quick first glance doesn't look that much. One must admit that Worldspreads in the past had a serious problem with lagging and delayed quotes. That fact, whether we as traders liked it or not, forced the Worldspreads management to address the issue and take action against some traders and put them on constant referral to a dealer. Of course, I think all traders agree that a re-quote is the most unpleasant thing there is, when it comes to trading, and if it becomes a standard procedure against the trader, the latter just has to stop trading with that broker. And looking back, if those traders who were put on referral are honest and self reflecting, lets face it, the odds were in some cases just too much in favor of the trader. Especially short term traders like me, who could, at times take advantage of that delay, which was not always premeditated on the trader's part, but often enough to understand that things were not entirely fair. I myself made 881% in just 4 weeks and that was way too much for Worldspreads to let me continue unregulated. However, it is also my viewpoint that the broker has to take sole responsibility for the feed quotes that are offered and presented on the platform, and not to blame it on the trader if the speed is not adequate to support instant execution as advertised. Of course, there can be some exceptions to this principle but it should not happen that often.
Here goes! I now present my honest reflection on the long awaited speed upgrade after two weeks of intensive trading on the Worldspreads platform.
What a difference in the speed of the platform! One can hardly believe it is the same platform one is trading on. Ultra fast quotes that almost exactly follow the underlying instrument. No lagging or delay of quotes whatsoever and even on an extremely volatile market, the feed is updated without any delay to speak of. I am really impressed, it is a sheer joy to trade with such a service. I have to give my compliments to Marvin and the technical staff of Worldspreads, they have done wonders with the speed and the overall performance of the platform as well, and this in a relatively short period of time. One must understand the technical difficulties involved here. The price feed has to be imported by Worldspreads, recalculated and adjusted to fit their spread, and then presented on the platform. All this within a few hundredths of a second! Marvin had told me earlier that the work of the speed upgrade had been initiated and would be implemented and introduced live as soon as the upgrade was completed. I had my doubts on this, but two weeks of live trading on the Worldspreads platform has fully convinced me that they have succeeded in the above task.
How about re-quotes and messages? Well yes, during volatile times such as news releases, it has happened. Not all the time and only on extreme occasions. Hey folks, you can not have it all! One has to look at the overall performance and the spread offered. Worldspreads are definitely putting a lot on the line with their 1 point spread philosophy and not so seldom, do they beat the DMA's in this effort. As Market Maker with an unvarying spread, they must at times, adjust to certain extreme market conditions, so the odds do not run away and become too unbalanced in favor of the trader. If re-quotes do not occur too often, it is my firm viewpoint that this situation is to be preferred, in comparison to being put on constant referral by a dealer.
Conclusion
Worldspreads with their 1 point spread offer, on the most interesting instruments, instant execution and incredibly fast feed which follows the underlying asset, is an unbeatable combination in the spread betting business today. I would even say, that compared to direct market access brokers, their offer is hard to beat as one has to add the brokers commission to the spread obtained. On top of that, compared to DMA's, you can put much less money at stake in the trade thus minimize risk for better money management. Besides you also have the profit tax free (for professionals, I am unsure of this). Yes I know it sounds like a commercial, but I am trading with other brokers as well and can tell the difference upfront. If Worldspreads can avoid putting traders on constant referral to a dealer, if they turn out to be winners, I am sure they have it made. In any case, Worldspreads have an opportunity in setting a new industry standard. Whether they succeed or not, remains to be seen. If it turns out that they do make it in the long run, sooner or later the other SB's must follow. Trading with instant execution with 1 spread, instead of 2 spread, is a world of difference, believe me, and if you are a disciplined short term trader, that can very well be the x-factor that tips you over to become a continuing winner. Sure, Worldspreads needs to improve their support department, add stop loss to orders, OCO orders, deposit credit card facilities etc.. but as long as they continue to improve and deliver the excellent service they offer at the moment I will rate them as no. 1 in my book of spread betting companies.
It would be nice if Marvin from Worldspreads would come out on this bulletin and contribute to this thread. I know for a fact that it is greatly appreciated by many traders that representatives of the companies share their knowledge and viewpoints on these forums. Please keep a pleasant note as we would like to have these representatives to stay on for a long time. Worldspreads has, in my view, progressed a lot, since a half year back and it would be interesting to keep the discussion on them as of today. Also if you are trading with Worldspreads today and would like to share your thoughts and experience, or are even contemplating joining them, please see that the posts keep coming in.
Thanks for your interest.
This is an attempt to start a new thread on Worldspreads. This is because I think that the old one is full of stuff that just does not belong there. Also it is my opinion that the old thread does not give a fair picture of the company as it is today. It would be nice if we could fill this new thread with some creative and interesting content on the spread betting broker Worldspreads Ltd, http://www.worldspreads.com.
Just for the record, I have no financial interest in Worldspreads Ltd whatsoever, apart from being a trader looking for the best possible deal.
Worldspreads upgraded!
A few weeks ago, Marvin and Worldspreads invited me, as they had promised earlier, to start trading again with instant execution. Back to business again so to speak. This post is a short review on this speed upgrade, which by a quick first glance doesn't look that much. One must admit that Worldspreads in the past had a serious problem with lagging and delayed quotes. That fact, whether we as traders liked it or not, forced the Worldspreads management to address the issue and take action against some traders and put them on constant referral to a dealer. Of course, I think all traders agree that a re-quote is the most unpleasant thing there is, when it comes to trading, and if it becomes a standard procedure against the trader, the latter just has to stop trading with that broker. And looking back, if those traders who were put on referral are honest and self reflecting, lets face it, the odds were in some cases just too much in favor of the trader. Especially short term traders like me, who could, at times take advantage of that delay, which was not always premeditated on the trader's part, but often enough to understand that things were not entirely fair. I myself made 881% in just 4 weeks and that was way too much for Worldspreads to let me continue unregulated. However, it is also my viewpoint that the broker has to take sole responsibility for the feed quotes that are offered and presented on the platform, and not to blame it on the trader if the speed is not adequate to support instant execution as advertised. Of course, there can be some exceptions to this principle but it should not happen that often.
Here goes! I now present my honest reflection on the long awaited speed upgrade after two weeks of intensive trading on the Worldspreads platform.
What a difference in the speed of the platform! One can hardly believe it is the same platform one is trading on. Ultra fast quotes that almost exactly follow the underlying instrument. No lagging or delay of quotes whatsoever and even on an extremely volatile market, the feed is updated without any delay to speak of. I am really impressed, it is a sheer joy to trade with such a service. I have to give my compliments to Marvin and the technical staff of Worldspreads, they have done wonders with the speed and the overall performance of the platform as well, and this in a relatively short period of time. One must understand the technical difficulties involved here. The price feed has to be imported by Worldspreads, recalculated and adjusted to fit their spread, and then presented on the platform. All this within a few hundredths of a second! Marvin had told me earlier that the work of the speed upgrade had been initiated and would be implemented and introduced live as soon as the upgrade was completed. I had my doubts on this, but two weeks of live trading on the Worldspreads platform has fully convinced me that they have succeeded in the above task.
How about re-quotes and messages? Well yes, during volatile times such as news releases, it has happened. Not all the time and only on extreme occasions. Hey folks, you can not have it all! One has to look at the overall performance and the spread offered. Worldspreads are definitely putting a lot on the line with their 1 point spread philosophy and not so seldom, do they beat the DMA's in this effort. As Market Maker with an unvarying spread, they must at times, adjust to certain extreme market conditions, so the odds do not run away and become too unbalanced in favor of the trader. If re-quotes do not occur too often, it is my firm viewpoint that this situation is to be preferred, in comparison to being put on constant referral by a dealer.
Conclusion
Worldspreads with their 1 point spread offer, on the most interesting instruments, instant execution and incredibly fast feed which follows the underlying asset, is an unbeatable combination in the spread betting business today. I would even say, that compared to direct market access brokers, their offer is hard to beat as one has to add the brokers commission to the spread obtained. On top of that, compared to DMA's, you can put much less money at stake in the trade thus minimize risk for better money management. Besides you also have the profit tax free (for professionals, I am unsure of this). Yes I know it sounds like a commercial, but I am trading with other brokers as well and can tell the difference upfront. If Worldspreads can avoid putting traders on constant referral to a dealer, if they turn out to be winners, I am sure they have it made. In any case, Worldspreads have an opportunity in setting a new industry standard. Whether they succeed or not, remains to be seen. If it turns out that they do make it in the long run, sooner or later the other SB's must follow. Trading with instant execution with 1 spread, instead of 2 spread, is a world of difference, believe me, and if you are a disciplined short term trader, that can very well be the x-factor that tips you over to become a continuing winner. Sure, Worldspreads needs to improve their support department, add stop loss to orders, OCO orders, deposit credit card facilities etc.. but as long as they continue to improve and deliver the excellent service they offer at the moment I will rate them as no. 1 in my book of spread betting companies.
It would be nice if Marvin from Worldspreads would come out on this bulletin and contribute to this thread. I know for a fact that it is greatly appreciated by many traders that representatives of the companies share their knowledge and viewpoints on these forums. Please keep a pleasant note as we would like to have these representatives to stay on for a long time. Worldspreads has, in my view, progressed a lot, since a half year back and it would be interesting to keep the discussion on them as of today. Also if you are trading with Worldspreads today and would like to share your thoughts and experience, or are even contemplating joining them, please see that the posts keep coming in.
Thanks for your interest.
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