Best Thread Capital Spreads

capitalspreads said:
Jbat

we are likely to go to dealer acceptance on most US data releases. This means that we will have the system switched to dealer acceptance at 13.29 and 14.59 on relevant days (same at 09.29 on UK data numbers).

This is not unusual..as others have kindly pointed out on this thread other trading platforms widen spreads (many FX platforms) over major releases or go to dealer acceptance.

cheers

Simon
Click to expand...

Thanks Simon - nice post.

So, by implication, US markets are already (by and large) automatic filling? IF this is what you were on about arranging when I posted about this time last month then well done to you all - I am well pleased! :D
 
REF POST: 2450

Not wishing to repeat myself, but I'm still waiting for an answer.

Dear Simon,

Here's an easy question:

when will the DOW Binary come on line. I've noticed the DOW is listed in the drop down menu, but no options when chosen. Is this something you intend to bring on line in the near future?

Yours

UK
 
Simon,

I use metatrader chart platform for forex but it is very rarely in line with your prices. Is it possible to know who supplies your prices so I can use the same server through metatrader and be trading the same prices. I realise it would probably be easier to use your charts but I prefer metatraders.

Cheers
 
DowJones said:
Simon,

I'm a CS client and I currently feel (perhaps incorrectly) that I'm being watched. The reason I feel this is that since becoming more profitable, I feel that my fills on the CS platform have become apalling of late. On short-term trades I regularly lose 20-50% of my expected winnings on slippage due to bad fills (on entry and exit). Also we're not talking fast market conditions here.

This is a shame, as I used to be a fan of CS (see old posts of mine). I have to say I also quite like your platform - except for the charts not properly matching the trading platform prices (at least on my platform), thus making it v difficult for me to trade off. Initially i thought it was just me so I checked my CS charts against my eSignal and DAF charts, and noticed discrepancies from time to time. (However, the eSignal and DAF charts, and the prices on the DAF platform, all mirror each other). A shame, because your charts look nice and are easy to use etc.

In brief, I have issues with: your platform, poor fills and what appears to me to be bias on your prices vs the underlying mkt price eg prices bias long, when in an uptrend . (However, with your spreads/fills etc I am unable to effectively arbitrage the price difference).

I suppose you will therefore suggest that I open an account elsewhere - and that is exactly what I have done. (For info to other readers I chose a futures broker as I don't honestly believe the other SB firms are any better).

I am merely posting my views, correct or incorrect as they may be, for information purposes. I am not trying to be offensive in this post, and understand that SB firms have to make money too - however I believe the spread alone should handle that. Perhaps there are other reasons for my making significantly less money on my CS account recently, and maybe I'm being v unfair in my views here - however I do note that I am suddenly doing considerably better when trading the same markets with a futures broker so I think I'll leave it there.

Rgds, DJ.
Click to expand...
I see this happening a lot and to myself with worldspreads & finspreads,. If you feel you are being treated unfair, write to capitalspreads with you complaint of the operational issue of thire trading platform, which could make a case to review SYSC that they may be breaching SYSC section by having inadequate systems for capitalspreads intended use.

The more complain about S.B the better place it be for traders. I use S,B firms, but I have one account for shorts and another account for longs.I shouldent have to do this, but if I don't and had all my money with one firm, I know they would make it hard for me. .Finspreads stopped me from making money a few years back and recently worldspreads :devilish: .

Don't give up and move on, write to C/S and see what they come back with, If no joy, then go to the FSO with your complaint.
 
I am constantly having my trades rejected in favour of my stop! I tried to close my trade sometime this week and it said market not open for trading. They had closed the marked. Then my stop was hit.

It happened this mornig again. No doubt Simon will come up with some reason like there was a price gap. Before you do,I closed the trade the same time and price as my deal4free trade and guess what deal4free was executed at my price. I have been testing it along side capital spread and they are much better. If your stop has been highlighted and you cancel it the order is gone. They don't excecute it.

Capitalspread will execute it and even after adjusting your stop.....But then that is the way your system works. You have the UPPER HAND... Do what you want at the bank end. You can afford think Should I execute this trade or not... While we have not choice to cancel.


So Simon....
 
I've not yet tested the CS platform but I've traded with some other SB's. There is nothing wrong with testing their platforms and make some good money, however I suggest to the newbies to close their accounts as soon as the SB's start to play dirty tricks. Don't be fool thinking that it was a technical error, in most cases it wasn't and if you want to save your capital and increase it according to your "bravure", then move on to something more reliable. Trading forex with SB's is a complete nonsense and waste of time, may I suggest that you start trading with Oanda and move later on to IB or Twowayfutures.
 
I brought this up yesterday on the cable thread. I had got to a point where I was accepting CS weren't that dodgy (see my chart comparison issues earlier in the thread) and I was accepting things were mostly my fault.

Yesterday though, I tried 3 times to enter into the BoE announcement. I don't mind slippage and I accept fast moving markets are a bitch but, at least with Oanda (as more than one person pointed out) although there spreads widened, and there may have been 5-10 pip slippage, at least you get filled quickly and reasonably.

Its not even the factor of slippage, its the process to go from one bit to the next.

The process I went through twice before the third final fill was....

buy.... 10 secs... price no longer valid... 10 secs... new attempt... 10 secs... price no longer valid.... 10 secs... third try.... in

Because of that process, the market had moved 50 pips allready before I could place my final trade which was filled. Whereas with Oanda, instead of try, no, wait... try, no, wait... you get filled but with slippage of 10-15...

Just another little trick in their favour....... I know which I'd prefer!

Before anyone says I'm bitter, I don't care, I'm moving over to Oanda anyway, just wanted to point out another issue with SB's which gives them the upper hand.
 
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mmmmm

quite a few complaints about FX (as usual)... I must yet again point out that we are NOT an FX platform quoting a limited number of markets. We are a spread betting company quoting close on 3000 markets in a huge array of areas. OANDA are an FX platform so I would be absolutely stunned if they were not better in times of high volatility than us.

I really cannot argue with my dealers over rejection of trades over a surprise BOE rate hike. If clients have open positions and reasonably placed stops then those stops would be filled in line with our terms (slippage etc..) even over moves such as yesterdays. It is all very well to say that you were happy to be filled on OANDA on an opening order with slippage of 10-15 pips but many clients WOULD NOT and would rather just not get the trade. In many platforms there is the ability to give a 'market order' that is filled as the best price available but in SB this is not possible as we have to take the view that the client is asking for that price and no other (aside from a pre placed 'new order').

simon
 
with a surpirse announcement of interest rate hikes, I would have thought most clients would be happier filled as the outcome would be pretty obvious, especially with the anticipated Euro hike also. I know I'd have rather been filled with slipage than have to attempt it 3 times..

As you keep pointing out you are no good for FX, why bother offering it?
 
wasp said:
As you keep pointing out you are no good for FX, why bother offering it?
Click to expand...

Actually, I think the answer is pretty obvious there too!
 
capitalspreads said:
mmmmm

quite a few complaints about FX (as usual)... I must yet again point out that we are NOT an FX platform quoting a limited number of markets. We are a spread betting company quoting close on 3000 markets in a huge array of areas. OANDA are an FX platform so I would be absolutely stunned if they were not better in times of high volatility than us.

I really cannot argue with my dealers over rejection of trades over a surprise BOE rate hike. If clients have open positions and reasonably placed stops then those stops would be filled in line with our terms (slippage etc..) even over moves such as yesterdays. It is all very well to say that you were happy to be filled on OANDA on an opening order with slippage of 10-15 pips but many clients WOULD NOT and would rather just not get the trade. In many platforms there is the ability to give a 'market order' that is filled as the best price available but in SB this is not possible as we have to take the view that the client is asking for that price and no other (aside from a pre placed 'new order').

simon
Click to expand...

whats the scenario with the 'new order' then Simon, will that be filled regardless (albeit with slippage) or can that be rejected?
 
Wasp

we are not 'no good for fx' please do not read into my comments extrapolations that are more to do with your translation rather than the words used. We have a very high percentage of FX trades on our platforms and (in general) the absolute vast majority of clients are happy with it. Our problems occur when we get compared to a dedicated FX platform or Futures platform or shares platform etc etc. If the exchange only concentrates on one market sector then of course you would expect it to do that market better than us.

Where we gain is that we offer all these markets on one platform..The margins we require for trading are far far lower..You can trade in your own currency....we have no commissions, pip charges, stamp duty, brokerage etc etc ...as with all things you must compare the advantages / disadvantages in each and decide which route to go.

New Orders
a 'new order' cannot be rejected.(unless the client does not have the funds available for the trade) 99% of new orders are filled at the requested level .. in times of sharp moves there may be 'slippage'. Slippage in this case means where Capital Spreads would have reasonably been able to fill the order in the open market.

cheers
simon
 
Simon, with respect, this was not only FX. I have myself pointed out certain inconsistancies on the US indexes, as have others, and DowJones summed it up pretty well in his recent post (2477). Maybe it would be time to take a more serious look at this issue.

All the best...
CJ
 
capitalspreads said:
Wasp

we are not 'no good for fx' please do not read into my comments extrapolations that are more to do with your translation rather than the words used. We have a very high percentage of FX trades on our platforms and (in general) the absolute vast majority of clients are happy with it. Our problems occur when we get compared to a dedicated FX platform or Futures platform or shares platform etc etc. If the exchange only concentrates on one market sector then of course you would expect it to do that market better than us.

Where we gain is that we offer all these markets on one platform..The margins we require for trading are far far lower..You can trade in your own currency....we have no commissions, pip charges, stamp duty, brokerage etc etc ...as with all things you must compare the advantages / disadvantages in each and decide which route to go.

New Orders
a 'new order' cannot be rejected.(unless the client does not have the funds available for the trade) 99% of new orders are filled at the requested level .. in times of sharp moves there may be 'slippage'. Slippage in this case means where Capital Spreads would have reasonably been able to fill the order in the open market.

cheers
simon
Click to expand...

with all due respect, whenever there are complaints you put it down to the factor you are not a FX platform and have said many times before FX traders would do well to go elsewhere.

If new orders do as you say then that is the way I shall go as that would have been perfectly acceptable yesterday. In all honestly I have never tried using the facility as I expected the same scenario as with market orders. Hopefully things will change for the better and I will continue to use your platform (in addition to Oanda).
 
jyde

we appear to be at a difficult position in indices....I continually state that we do not bias our indices prices at all, ever. But of course as I am a spread betting company nobody believes me. What inconsistencies are you refering to?

I have made innumerable comments on CS indices quotes versus what you actually see those indices printing on the exchange. There is frquently a difference in these cases for the very reason that there is not actually such a thing as the Dow 30 or the S&P500 etc. You cannot actually buy or sell them. What you can do is buy or sell the Futures which underly these indices. For this and other reasons we always quote all of our indices versus the futures NOT against what the cash index is actually saying.

I must always repeat myself .... if anyone thinks our price is wrong on the index price then TRADE on it. If we are wrong then you should be able to virtually guarantee a profit on your trade or at least get in on the right side of the trade.

If we have something fundemantally wrong then I would be more than grateful to have this pointed out to us as we may be missing a trick!

cheers

Simon
 
capitalspreads said:
jyde

we appear to be at a difficult position in indices....I continually state that we do not bias our indices prices at all, ever. But of course as I am a spread betting company nobody believes me. What inconsistencies are you refering to?

I have made innumerable comments on CS indices quotes versus what you actually see those indices printing on the exchange. There is frquently a difference in these cases for the very reason that there is not actually such a thing as the Dow 30 or the S&P500 etc. You cannot actually buy or sell them. What you can do is buy or sell the Futures which underly these indices. For this and other reasons we always quote all of our indices versus the futures NOT against what the cash index is actually saying.

I must always repeat myself .... if anyone thinks our price is wrong on the index price then TRADE on it. If we are wrong then you should be able to virtually guarantee a profit on your trade or at least get in on the right side of the trade.

If we have something fundemantally wrong then I would be more than grateful to have this pointed out to us as we may be missing a trick!

cheers

Simon
Click to expand...

Simon, I am actually one that DO believe you when you say that you do not biase your prices.

Also, of course we are talking about futures when I say indices.

I have myself made several posts, as has others (most recently DowJones on post 2477). I suggest you review when time allows.

Basically, you narrow the range, both on your charts but also on the price we can actually hit Buy/Sell on. You can argue that the price was there but too quick for the eye (why would other providers be able to show it? This happens frequently in slow markets as well), but that would not account for the discrepancies on charts.
Again, please refer to earlier posts or post 2477, it sums it up neatly.

DowJones has left you, I have stopped trading actively with you. I would, hand on heart and truly, like this to improve as I do like your platform and style otherwise, so please take this in the kind spirit it is meant.

CJ
 
wasp

mind you 'new orders' have their problems as well. Last week or so we had some big number out and (i think it was cable) sterling jumped 20 pips up triggering a load of new orders to the upside and then jumped back down about 50 pips triggering all the orders on the downside. Cue ...quite a few irate clients who could not believe it !!

I had quite a few conversations explaining what an 'OCO order' was and why they should use them rather than just 'new orders'.

cheers

simon
 
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