CAPITAL SPREADS - LONDON CAPITAL GROUP LTD to be investigated by FSA

[Bakuli]

Sorry but I am not sure what that response is suppose to imply. Could you be kind enough to elaborate in words. Thanks.

 

[Black Swan]

Sorry but I am not sure what that response is suppose to imply. Could you be kind enough to elaborate in words. Thanks.

No, but thanks for the offer...

 

[Bakuli]

Absolute mountain out of a molehill.

I doubt very much they targetted you and switched the type of ticket you use, and even if they did (and I doubt it's technically possible for them to do this, let alone waste time 'identifying' winnign clients) are you really going to claim that it stops you making money? The old tickets were fine for years.

There are plenty of other firms who will take your winning business, so I'd suggest that you just take it to a shop that can give you the tools you need.

I am sorry if you think I am making a mountain out of a molehill here. I am not one who complains for the sake of it.
I have no doubt they are able to do it technically as it happened to me a few times unless I was hallucinating at that time.
If you do not think that there is some kind of manipulation there, perhaps you can give me a rational reason why an old version order ticket was made available to me when they are supposed to have progressed on to the latest user friendly order ticket.
The old tickets were fine for years because they were the only tickets at that time. Capital Spreads introduced the new order tickets to supposedly help traders with an easy to use version of the old ones. I am not complaining that it is stopping me from making money. I didn't complain when I lost money either. I am only complaining now because I feel that an unfair practice is being used to inconvenience traders, that's all. Why make a change for the better (new version of Order Tickets) but then use an old un-userfriendly one in practice ? Your further comments are most welcomed.
Thank you.

 

[Bakuli]

No, but thanks for the offer...

Fair enough mate, no problem.

 

[gle101]

A well written post by Bukali, so I think Black Swan should show some more respect for members posting. Your experience is probably correct, and CS do intervene at times by setting certain parameters against you. They do not need to monitor you live in order to do this. Any kind of individual manipulating should be criticized heavily, on the other hand they immediately corrected this upon you complaining, for this action one has to give them credit for. You might overreact somewhat, on grounds that some of these trades turned into losers.

 

[Bakuli]

A well written post by Bukali, so I think Black Swan should show some more respect for members posting. Your experience is probably correct, and CS do intervene at times by setting certain parameters against you. They do not need to monitor you live in order to do this. Any kind of individual manipulating should be criticized heavily, on the other hand they immediately corrected this upon you complaining, for this action one has to give them credit for. You might overreact somewhat, on grounds that some of these trades turned into losers.

Thank you for your reply and understanding of the situation. Yes, I must give credit to them for the quick correction since my complaint although no actual written response was received for my concerns. I do like Capital Spreads and don't want to change broker because of a hiccup. All I want is a fair playing field. I have lost thousands to them and never once have I complained of broker manipulation , etc because I was a loser. I am only bringing this up because of what I have come to notice as unfair practice.

 

[Black Swan]

A well written post by Bukali, so I think Black Swan should show some more respect for members posting. Your experience is probably correct, and CS do intervene at times by setting certain parameters against you. They do not need to monitor you live in order to do this. Any kind of individual manipulating should be criticized heavily, on the other hand they immediately corrected this upon you complaining, for this action one has to give them credit for. You might overreact somewhat, on grounds that some of these trades turned into losers.

Now it isn't and I'm not about to show any deference to the usual paranoid delusions from losing spread-betters. I thuoght we'd moved past this with the myths and reality sticky, but I forgot you're still in the club too...

 

[bedsit]

Difficult for me to understand one thing. Every time somebody complains about crooked SB companies, lots of people come in defence of SB companies and at the same time attack complainer (like being unsuccessful, trying to blame somebody else etc.)

To my mind they either work for SB companies (have some interest in them) or they are not very bright (trying hard not to use offensive language – but for Family Guy's followers they remind me of Peter Griffin office colleague – one that is often promoted to an employee of the month).

I had accounts with quite few SB companies. One of them used to invent their own charts – I think they still do. The other one used to stop me at levels never reached (I could check this, as I have Level2). One of them stopped me overnight – next morning checked their chart and price was never hit. When I complained they said that charts are only indicative. That's why I don't trade with that companies any more and I think it's good to allow people to expose that sort of companies.

If I was in charge some of them would immediately close and organisers put behind bars (as common criminals) Anyway I'm not in charge, so the best way is to expose bad SB companies.

Don't get me wrong – some of them are proper companies and I use their services. Also as this is a thread about Capital Spreads - I've never used them, so can't comment on their services.

 

[PipStar]

Difficult for me to understand one thing. Every time somebody complains about crooked SB companies, lots of people come in defence of SB companies and at the same time attack complainer (like being unsuccessful, trying to blame somebody else etc.)

Too right and if you look carefully the same posters keep doing it again and again.

May be they have a conflict of interest.

 

[Jack Hughes]

It shouldn't really be a surprise that a 'Forum Guide' jumps to the defence of companies that advertise on this site.

 

[mroalan]

if your waiting on the FSA you may be waiting a long time.

 

[Black Swan]

It shouldn't really be a surprise that a 'Forum Guide' jumps to the defence of companies that advertise on this site.

Really? No skin off my nose, no cash out of my pocket...losing traders always blame something as opposed to themselves...

 

[Black Swan]

...complains about crooked SB companies, lots of people come in defence of SB companies and at the same time attack complainer (like being unsuccessful, trying to blame somebody else etc.)

I had accounts with quite few SB companies. One of them used to invent their own charts – I think they still do. The other one used to stop me at levels never reached (I could check this, as I have Level2). One of them stopped me overnight – next morning checked their chart and price was never hit. When I complained they said that charts are only indicative. That's why I don't trade with that companies any more and I think it's good to allow people to expose that sort of companies.

If I was in charge some of them would immediately close and organisers put behind bars (as common criminals) Anyway I'm not in charge, so the best way is to expose bad SB companies.

Don't get me wrong – some of them are proper companies and I use their services. Also as this is a thread about Capital Spreads - I've never used them, so can't comment on their services.

Priceless...

 

[bedsit]

Priceless...

Hi Swan,
agree with you - it is priceless info for those new to spread betting. Apart from market you have to know some SB companies and their tricks. IMO with some of them you stand no chance whatsoever.

Some people believe about SB companies hedging against spread betters positions - that's a wrong belief. Simple truth in most cases profit for SB companies comes from loosing spread betters - and there are lots of them.

At least SB companies and their supporters are happy about it, so they are lol all the way.

 

[gle101]

Now it isn't and I'm not about to show any deference to the usual paranoid delusions from losing spread-betters. I thuoght we'd moved past this with the myths and reality sticky, but I forgot you're still in the club too...

Well, apparently we have different viewpoint on some of the issues. No problem on my part Black Swan.

 

[bedsit]

Would like to add few things to help form a balanced view.

I've been using one SB company regularly and find them quite decent. Can't name them (that would be advertising IMO) - they are one of the biggest and don't make profit only form SB.

I met quite a few employees of various SB companies. I remember once talking to one of them about my impression that one of SB companies tend to invent their own prices - charts. He said he knew about it and named it (it's quite a big company). More or less they know who is who in SB business.

Having access to market prices, used that opportunity to open trades (on their wrongly quoted prices) and afterwars complain about their prices being wrong. Waited fo them to rectify prices and than exit at a profit. Did that quite a few times.
Nowadays I'm more serious and don't use their services any longer.

Anyway, my advice is to open as many accounts with different companies, do research (prices, spreads, executions etc.) Maybe meet employees, go to see a particular company's offices. It is a long and laborious way, but in my opinion worth it.

:!S Be aware of some posts on this forum. Not only that they are offensive to intelligence, but they may cause you serious losses.

No offence intended to any member - just a friendly advice

 

[capitalspreads]

bakuli

i can assure you that we did not turn you on to the old order ticket (we cannot actually do this). On a different upgrade the old order ticket functionality was reinstated, in error, and the first we knew about this was (you guessed it) when clients informed us. At which point the new version was reinstated. We have so many testing versions in place that sometimes errors of this nature do occur.

I am tired of shouting at IT so I will leave it to you guys

as you kindly mentioned the error was immediately reversed and I am sure that other CS users will also point out that they have never been 'put onto' the old order ticket.

Simon