Capital Spreads vs Pro Spreads

[Steakeater]

I see both of these are run by "London Capital Group". Has anyone any experience of them and what is the advantages and disadvantages of each?

Do they allow scalping? I suspect Capital spreads doesn't but pro spreads does due to them being DMA?

Thanks in advance

 

[timsk]

Hi Steakeater,
You can read reviews about both firms in the Broker Reviews section of T2W. Also, check out the dedicated threads on each of them in this forum. Simon (ex CEO of CS) has commented on this in the CS thread.

Essentially, as you suggest, ProSpreads are geared up for traders with a 'scalping' style, whilst Capital Spreads are not.
Tim.

 

[Steakeater]

Hi Steakeater,
You can read reviews about both firms in the Broker Reviews section of T2W. Also, check out the dedicated threads on each of them in this forum. Simon (ex CEO of CS) has commented on this in the CS thread.

Essentially, as you suggest, ProSpreads are geared up for traders with a 'scalping' style, whilst Capital Spreads are not.
Tim.

Thanks, just had a look at the review section.

 

[Vasco da Banana]

Hi Steakeater,
You can read reviews about both firms in the Broker Reviews section of T2W. Also, check out the dedicated threads on each of them in this forum. Simon (ex CEO of CS) has commented on this in the CS thread.

Essentially, as you suggest, ProSpreads are geared up for traders with a 'scalping' style, whilst Capital Spreads are not.
Tim.

But remember that PS has such wide effective spreads that scalping is difficult or impossible.

 

[timsk]

But remember that PS has such wide effective spreads that scalping is difficult or impossible.

Hi VdB,
I'll take your word on that. I've got a demo CS account and haven't used ProSpreads - so I can't really comment other than to say CS pride themselves on the tightness of their spreads but, whilst their popular cash instruments are good in this respect, their version of futures is not. For example, Dow cash is 1pt, wheres, the June future (their version of the YM) is a truly massive 6 pts!!! My guess is that ProSpreads offer better spreads on the YM than that - don't they?
Tim.

 

[Vasco da Banana]

Hi VdB,
I'll take your word on that. I've got a demo CS account and haven't used ProSpreads - so I can't really comment other than to say CS pride themselves on the tightness of their spreads but, whilst their popular cash instruments are good in this respect, their version of futures is not. For example, Dow cash is 1pt, wheres, the June future (their version of the YM) is a truly massive 6 pts!!! My guess is that ProSpreads offer better spreads on the YM than that - don't they?
Tim.

Hi timsk

Last time I looked into PS, the total spread on YM was 5pt, because you have to add 2pt each way 'commission' on top of the market spread. No matter how good the execution (and it must be pretty easy to provide that with such a buffer), how could anyone 'scalp'?

 

[timsk]

Hi timsk

Last time I looked into PS, the total spread on YM was 5pt, because you have to add 2pt each way 'commission' on top of the market spread. No matter how good the execution (and it must be pretty easy to provide that with such a buffer), how could anyone 'scalp'?

Hmmm, I take your point! It would be interesting to hear their answer to that question.
Tim.

 

[Steakeater]

Just been looking on Prospreads website and their spread for dollar currencies is only 0.5 points. Where can you get better?

 

[gle101]

Just been looking on Prospreads website and their spread for dollar currencies is only 0.5 points. Where can you get better?

Are you sure it is not commission plus the market spread?

 

[Steakeater]

Are you sure it is not commission plus the market spread?

No I'm not sure, will need to look into it more.

 

[brettus]

Just been looking on Prospreads website and their spread for dollar currencies is only 0.5 points. Where can you get better?

Worked an order on prospreads in AUDUSD at 1.05085 to buy. Filled at 1.05095. Don't use prospreads for currencies. Currenex charges prospreads 5$/mio traded, and Prospreads just charged me 100$/mio. That's criminal.

 

[riogordo]

Worked an order on prospreads in AUDUSD at 1.05085 to buy. Filled at 1.05095. Don't use prospreads for currencies. Currenex charges prospreads 5$/mio traded, and Prospreads just charged me 100$/mio. That's criminal.

If they have charged you .0001 that is $10 not $100?

 

[brettus]

If they have charged you .0001 that is $10 not $100?

10$ per lot but 100$/mio traded. Like I said. 1,000,000 X 0.0001 = 100$. Like I said. Cheers