Best Thread Capital Spreads

I can deal with the market jumping one way and the other, thats fine, as long as I can enter (roughly) where I want too, I'd be happy.
 
The best fills I have had with a spreadbet firm, is CMC by far. and 2 pips on EURUSD...there are no egg timers, unlike many other frims.. 1 click and you in, I have been very impressed with them of late.and I'm trading up to 25 quid a point with them.
 
capitalspreads said:
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

Can u please explain what the oco order does. I always see the new Order with an if done stop loss... and Limit . I haven't used the oco and don't see the need for one. but if you put it there you might have a reason so please tell us..


Also to point out the order fill is terrible as well.. They basically take their time to fill it... Unless you have the direction right don't bother with it.

Anyone with a good experience using the Order?
 
an oco order means one cancels other... clients use this for break outs etc....

an order to buy above the market and an order to sell below the market..(for instance)

whichever is filled first cancels the other.... quite useful on figure releases.

I do wish cooltrader would actually ring us to give us an indication of exactly what his problem is with the order function or any other function. As far as we are aware it works very well indeed. As has been mentioned several times on this thread. He never calls us to complain about anything (as far as I am aware). He just posts comments on here. If anyone feels they have been treated unfairly we are always willing to listen and if we feel that there is a case to be answered then we will act on it.

cheers

simon
 
Simon.........I noticed today that most of the commodity markets are "telephone only"
Why? Is there a technical problem on the exchanges?

I personally do not want to have to telephone for quotes to enter or exit a market. I want to be able to enter and exit at the click of a button.

Finspreads are, in my experience, particularly bad for doing this. Online spreadbetting should mean online spreadbetting
 
Simon,


Possibly another curio for you - may mean nothing at all, or it may be significant. When you execute orders that have been placed when a set of conditions are met (OCO, etc), does it make any difference whether the individual account holder is logged in and has the platform open or not?

Only reason I ask is that stops seem to be a whisker slower when the platform is open - is this significant or of no consequence?
 
capitalspreads said:
an oco order means one cancels other... clients use this for break outs etc....

an order to buy above the market and an order to sell below the market..(for instance)

whichever is filled first cancels the other.... quite useful on figure releases.

I do wish cooltrader would actually ring us to give us an indication of exactly what his problem is with the order function or any other function. As far as we are aware it works very well indeed. As has been mentioned several times on this thread. He never calls us to complain about anything (as far as I am aware). He just posts comments on here. If anyone feels they have been treated unfairly we are always willing to listen and if we feel that there is a case to be answered then we will act on it.

cheers

simon

As a matter of fact I have spoken to you and to your dealers quite a lot this week. They always justify the reason for whatever action.

I spoke to you Simon on the price rejection and on that day you said you were not aware of any refections...

What more can I do? bring my computer and trade next table to your dealers ;)
 
I apologise if the following has been covered in this long thread, but can somebody help re fx trading:-

1) Do CS now offer 24hrs FX trading?
2) Have they resolved the issue of rejecting orders when the price moves in your favour and accepting without a re-quote if the price goes against you?
 
Simon,

I see in your e-mail regarding your moving offices, there is an offer for £50 when you fund your live account and make 2 trades. There is no date requirements nor anything specific to 'new' accounts so I assume this means it applies to all account holders fitting this requirement, new and old.

Very kind, thanks!
 
pippin

commodities

just for a change this was nothing to do with us!! The CBOT exchange from where we get many of our commodity prices went down on their satelite feed. For much of Friday we were pricing our Wall Street price off the actual index (for a change) as there were no futures feeds working. I guess that the other SB companies had to do the same. In all the history of CS our worst outage was about 20 minutes it was nice to see that the all powerful CBOT were unable to get their feeds working for 3 whole hours.

Jbat

it should make no difference.

gullible

CS has had 24hr trading on FX for over 3 months. Umm ...aside from volatile periods we seldom reject any trades. You may be reffering to times past when our FX feeds were not as robust as they are now,

Cooltrader

apologies if you have spoken to us.... I dont actually know who you are though!!

It is odd though..... we hardly get any complaints at all...really truly, cross my heart etc etc ..but you seem to have recurring problems. If you would like to come in and sit next to our dealers and then you may be able to reflect on what it is like on the other side of the fence... The offer to any client to come in and see how everything works is still open... Various people have expressed interest but not one has actually followed through and come along.

Regards

Simon
 
wasp

there is a little star next to the 'once you have open a live account' . Which says 'subject to status' . As your 'status' would be that you already have a live account then I am afraid that the answer would be 'No'. Sorry.

Nice try though

Simon
 
capitalspreads

You may have answered this question previously, if so , sorry for asking it again.

Why do you not offer the liffe ftse future in a spread bet wrapper as futuresbetting do?

Regards

bracke
 
capitalspreads said:
CS has had 24hr trading on FX for over 3 months. Umm ...aside from volatile periods we seldom reject any trades. You may be reffering to times past when our FX feeds were not as robust as they are now,

so you do NOT allow your clients to trade during the busy trading periods (when the pros are trading)! :p :devilish: :p

that is NOT 24 hours trading.

you also failed to answer the 2nd important question.

"2) accepting without a re-quote if the price goes against you?"
 
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bracke said:
capitalspreads

You may have answered this question previously, if so , sorry for asking it again.

Why do you not offer the liffe ftse future in a spread bet wrapper as futuresbetting do?

Regards

bracke

because they would then have to change their whole business model from Bucketshop to offering Direct Market Access..
 
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martin brown said:
because they would then have to change their whole buisness model from Bucketshop to offering Direct Market Access..

Jeez, nobody expects the Spanish Inquisition..... The very fact that we're able to have the director of an SB firm here is amazing enough - if you think it's a con, then don't spreadbet!

On another note - could Simon or one of the others tell me what on earth happenened to USD/SEK this morning, as per the attached image? I'm pretty sure that the dollar didn't instantly collapse versus SEK, and I've seen odd gaps in the market before, but this one was insane!
 

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martin brown
brilliant piece of deduction.... how you manage to get that translation from my comments is a masterly piece of deliberate miscommunication. My statement was that, rather like the real FX market (where you can just as easily fail to get a price) sometimes your deal is rejected. The difference between a spread betting company and the real market is that with SB you get the deal 'rejected' whilst in the 'real' market your order just sits there on the bid or offer waiting to be filled. Whilst if the trade was the other way round you would be filled (as with the SB company) at the price you requested.

The only difference is that with us you cannot give a 'market order' to fill at any price except through the new order functionality. (as per my comments of a few days ago).

I try to be as informative as possible and keep a polite tone at all times. If all you want to do is be rude and insulting please find one of the other threads to do it. There are any number of SB slagging threads on T2W please can you comment on these.

One of the big American Futures Exchanges recently made a very good analysis of private client trading on futures (direct access beloved of commentators here). As opposed to institutional trading. They discovered that 81% of private clients lose money in the futures pits. This is slightly worse than our clients overall statistics. So who is the bucket shop us or them?

brake
we are in a difficult position here.... in the UK we looked at doing this a few years ago and we were going to offer this service under the name of 'Prospreads'.... but we were informed by our lawyers that by standing between the client and the exchange and only confirming the bet if the underlying trade was done on the exchange made the transaction a TRADE and not a BET. This meant that we were unable to call it a spread bet under the rules as we saw them. I am sure that others have a different interpretation from their lawyers. I am not going to get too involved in who is right or wrong, all I can go on is what we see as the rules in this country.

In reality the difference is hardly worth talking about anyway. The majority of the time the FTSE is quoted 1 to 1.5 points wide (not the 0.5 points beloved of commentators) so that when you trade, if you include the commissions/brokerage/margin required etc etc, the saving is probably non existent. In the long run are you better off getting an almost certain fill on a 2 pip price or attempting to get a fill in an exchange on a 0.5 –1.0 –1.5 plus comms?

In reality the same question could be put to all of the SB companies in the UK. If we felt that we could do it here don’t you think one of us would have done so by now? (knowing my luck one of them is probably about to do just that!)

simon
 
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capitalspreads said:
martin brown
brilliant piece of deduction.... how you manage to get that translation from my comments is a masterly piece of deliberate miscommunication. My statement was that, rather like the real FX market (where you can just as easily fail to get a price) sometimes your deal is rejected. The difference between a spread betting company and the real market is that with SB you get the deal 'rejected' whilst in the 'real' market your order just sits there on the bid or offer waiting to be filled. Whilst if the trade was the other way round you would be filled (as with the SB company) at the price you requested.

The only difference is that with us you cannot give a 'market order' to fill at any price except through the new order functionality. (as per my comments of a few days ago).

I try to be as informative as possible and keep a polite tone at all times. If all you want to do is be rude and insulting please find one of the other threads to do it. There are any number of SB slagging threads on T2W please can you comment on these.

how have i been rude or insulting?

have i stated anything that is incorrect?

you have still refused to answer the important question; do you accept a client trade without a requote if the market moves against them?

imo, it is capitalspreads who is "deliberately miscommunicatiing"..
 
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bracke
we are in a difficult position here.... in the UK we looked at doing this a few years ago and we were going to offer this service under the name of 'Prospreads'.... but we were informed by our lawyers that by standing between the client and the exchange and only confirming the bet if the underlying trade was done on the exchange made the transaction a TRADE and not a BET. This meant that we were unable to call it a spread bet under the rules as we saw them. I am sure that others have a different interpretation from their lawyers. I am not going to get too involved in who is right or wrong, all I can go on is what we see as the rules in this country.

In reality the difference is hardly worth talking about anyway. The majority of the time the FTSE is quoted 1 to 1.5 points wide (not the 0.5 points beloved of commentators) so that when you trade, if you include the commissions/brokerage/margin required etc etc, the saving is probably non existent. In the long run are you better off getting an almost certain fill on a 2 pip price or attempting to get a fill in an exchange on a 0.5 –1.0 –1.5 plus comms?

In reality the same question could be put to all of the SB companies in the UK. If we felt that we could do it here don’t you think one of us would have done so by now? (knowing my luck one of them is probably about to do just that!)

simon[/QUOTE]

simon

Thanks for your reply.

My interest in the liffe ftse future was not so much from the cost of trading aspect but from dealing in an instrument whoose prices are not specific to one spead bet compoany but is a 'national' index which may provide a level playing field and reduced spiking.

Please do not take the above as a criticism, just a point of view.

I note that the company - futures betting - who do offer this instrument are not based in this country perhaps that makes it easier for them to make the offer.

Regards

bracke
 
Martin

Please read the comments before you reply, the last line of the first paragraph tells you that "Whilst if the trade was the other way round you would be filled (as with the SB company) at the price you requested". I am at a loss as to understand where the argument is here. In 'direct access' you will always be filled on an adverse move (although to be fair you may very very occassionally get a price improvement) AND you may quite frequently miss a trade on a favorable move as somebody had a faster trigger finger than you and took the offered side before you. The difference is that in Spread Betting there is somebody to complain to (the SB company), as you can hardly complain to an exchange about failing to get your trade on. Exchanges work because there is another person on the other side willing to trade with you. If liquidity dries up, momentarily, for some reason then the price will widen and you will have to pay up or sell down. Spread Betting works because the SB company is always willing to quote a price no matter what is actually happening but sometimes (as with direct access) you miss the trade.

Rather than look at it as a 'trade rejection' ... look at it from the viewpoint that you missed the trade price.

In reality I have answered these very questions many times over the past few years...

Jbat

whoops .. looks like a very sudden devaluation/revaluation. Will try to get the charts amended.

Cheers

Simon
 
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