fudgestain
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You are being treated like a shooting gallery duck. But Simple Simon will come to your rescue .. only with more words though.coolTrader said:
Best Thread Capital Spreads
cooltrader
I have been through it so many times. I know what you feel like mate. If they see someone winning, they will make you life hell. I even had it with CMC Fins and bloody WORLDSPREADS.
The best thing to do is, have one account for shorts and use another S/B for longs, so they dont know what you are doing. I know you shouldn't have to do this. but remember you are dealing with bucket shops.
I have been through it so many times. I know what you feel like mate. If they see someone winning, they will make you life hell. I even had it with CMC Fins and bloody WORLDSPREADS.
The best thing to do is, have one account for shorts and use another S/B for longs, so they dont know what you are doing. I know you shouldn't have to do this. but remember you are dealing with bucket shops.
quote
I execute a trade no error ticket times out as above with Just a message that says check your open positions! I check my open positions and nothing is there. 5mins later the trade appears!
Next time this happens to you take a screen shot of your position with a time and date in the bottom right corner of you screen on your PC. I think the FSA would like to see this, Its very misleading to the client not knowing if you in a trade or not. This is the same complint that my sister has with worldspreads.she has sent them her last letter, the next step looks like FSO on to the FSA...
If you have anyof you have any issues with spreadbet firms, send me a private Msg and I put on my list. I am building a case for the FSA at this time.
I execute a trade no error ticket times out as above with Just a message that says check your open positions! I check my open positions and nothing is there. 5mins later the trade appears!
Next time this happens to you take a screen shot of your position with a time and date in the bottom right corner of you screen on your PC. I think the FSA would like to see this, Its very misleading to the client not knowing if you in a trade or not. This is the same complint that my sister has with worldspreads.she has sent them her last letter, the next step looks like FSO on to the FSA...
If you have anyof you have any issues with spreadbet firms, send me a private Msg and I put on my list. I am building a case for the FSA at this time.
haha come on guys get with it, IT IS a total scam!
I left Capital Spreads over a month ago now and moved to a legit FX Broker with INSTANT EXECUTION BABY!!! and guess what!?
My limit orders are filled everytime, with NO SLIPPAGE!
Boy does it feel great.
I had just had enough one day, after capital spreads triggered my limit order, then FORCED the GPB USD price allllllll the way 42 pips up magically hitting my stop for a big juicy loss.
When I compared their charts to all other indepdent FX charts around, the price did not reach anywhere NEAR where their charts did say it did!
That was the last straw for me.
I'll gladly pay taxes on my Fx profits AND bigger spreads IN EXCHANGE for INSTANT EXECUTION and GOOD OLE HONESTY any day!!!
IM SO GLAD I LEFT THOSE FILTHY SCUM BUCKETS!
Ditch em.
I left Capital Spreads over a month ago now and moved to a legit FX Broker with INSTANT EXECUTION BABY!!! and guess what!?
My limit orders are filled everytime, with NO SLIPPAGE!
Boy does it feel great.
I had just had enough one day, after capital spreads triggered my limit order, then FORCED the GPB USD price allllllll the way 42 pips up magically hitting my stop for a big juicy loss.
When I compared their charts to all other indepdent FX charts around, the price did not reach anywhere NEAR where their charts did say it did!
That was the last straw for me.
I'll gladly pay taxes on my Fx profits AND bigger spreads IN EXCHANGE for INSTANT EXECUTION and GOOD OLE HONESTY any day!!!
IM SO GLAD I LEFT THOSE FILTHY SCUM BUCKETS!
Ditch em.
marlintrdg
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laptop1 said:
So none of these SB co's work?? I saw that they have some 50,000 + customers and rising. Are they all corrupt?, if so, where are they going to jail them all??
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wasp
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fwiw I had a good day with CS today and have done all week. The last issue I had was a late fill on the UK rate announcement and I now know to use new orders instead of market orders at announcement/data times.
I may not be big enough or profitable enough to warrant being watched or to interest the dealers if that is the case, but at the moment I'm happy enough.
That said I will probably move to currenex or oanda for daytrading but I will keep the CS account.
I may not be big enough or profitable enough to warrant being watched or to interest the dealers if that is the case, but at the moment I'm happy enough.
That said I will probably move to currenex or oanda for daytrading but I will keep the CS account.
marlintrdg said:
I tell you Mr marlintrdg.why they not going to jail. If a trader has a complaint against a spread bet company, they dont put if forward, most got family's, they don't want to show that they lost money, even so, some times its not their fault It's platform error, as in the case with cooltrader, he keeps on saying how bad he is being treated, but he is not doing nothing about it. The operational issue of cooltraders trading platform with capitalspreads is misleading, with regard to what cooltrader have said.
quote
I put trades through the ticket does not come back with just a message that says check your open positions!. I call up and they say oh the trade is there do you want it to still be executed?
If this is the case, FSO could review SYSC thatcapitalspreads may be breaching SYSC section by having inadequate systems for capitalspreads intended use.
ho by theway what spread bet firm you work for marlintrdg
marlintrdg
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laptop1 said:
Just sitting on the beach in the Bahamas watching the girls walk by. (got to love WiFi)
Been trading FX. Before that 4 years in Index options, and before that in futures, mostly soft's.
I like the idea of SB but there seams to be so many pitfalls at the broker end.
I have an account a WS In CS, and the very few trades I've done so far, my only complaint is they can't count to good when it come to the advertised spread. Not sure I can do anything about that, its the same as all the retail forex platforms I've been trading on for the past 3 years. Now if you want to deal with gifted crooks, get in the retail forex trading, the SB folks got nothing on them!! (not Oanda, so far.)
Slapshot
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Laptop,
Out of curiosity what is your trading style? Scalping? Swing Trades?
If you're having the same problems with all the companies you've mentioned, CMC/Fins/CS/WS, and you're serious about trading and feel you have a system that works but the vehicle for trading is letting you down why not go to Direct Access?
The "issues" with SB firms have been around as long as they've been around. Good luck with taking your case(s) to the FSA, but I doubt much will change.
I used to scalp with the sb co's and it became pointless because of the bias and their data feeds becoming ever quicker. Swing trading however has proved to be more successful. I'm in the process of moving to DA and not having to worry about where I'm getting filled.
Out of curiosity what is your trading style? Scalping? Swing Trades?
If you're having the same problems with all the companies you've mentioned, CMC/Fins/CS/WS, and you're serious about trading and feel you have a system that works but the vehicle for trading is letting you down why not go to Direct Access?
The "issues" with SB firms have been around as long as they've been around. Good luck with taking your case(s) to the FSA, but I doubt much will change.
I used to scalp with the sb co's and it became pointless because of the bias and their data feeds becoming ever quicker. Swing trading however has proved to be more successful. I'm in the process of moving to DA and not having to worry about where I'm getting filled.
Jbat001
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A bit of Capital Spreads comedy for you all:-
Part of my dayjob involves what the financial services industry refers to as 'compliance'. I happened to be on the online public FSA register the other day, and guess who used to be an employee of London Capital Group? None other than Big Brother's ex housemate Sezer Yurtseven.
Imagine Sezer the geezer sitting there executing trades for you!
Part of my dayjob involves what the financial services industry refers to as 'compliance'. I happened to be on the online public FSA register the other day, and guess who used to be an employee of London Capital Group? None other than Big Brother's ex housemate Sezer Yurtseven.
Imagine Sezer the geezer sitting there executing trades for you!
capitalspreads
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alot of comments since last night so I will try to get through them
sambar
I have commented quite extensively about winners and losers.... in reality we treat them no differently AND have only ever closed an account for either reasons of fraud or being excessively rude to my staff. I can assure all our clients that our proportion of winning clients is actually slightly higher than the latest percentage who win using ‘direct access’ platforms. This is probably because we force stops on all client positions and do not ring up trying to get further margin on losing bets.. thus tempting them to throw good money after bad!
Order fills are treated exactly the same no matter what the size in FX and indices. In equity markets they are treated differently as we must take into account the liquidity available in the shares in which the order has been placed.
cooltrader
we have an audit trail on every trade made by a client /every action made/time of order activation etc etc... if a client has placed a trade before an order is hit but we execute the order first (thus canceling the closing bet) then we will have an audit trial of that fact. If any client feels that he has had this happen he can call us and we can check this against the audit trail. It really is just a perception that we may delay order fills or trade acceptances. We are not interested in annoying clients or grabbing the odd pip here and there. In reality if there is any significant delay it is because a large number of clients wish to trade at the same time.
I sometimes feel that the real reason for the bad feeling over SB companies is because when somebody loses thay know that it was the SB company that won. When you lose on the exchange there is just yourself to blame for getting it wrong whilst with us there is actually somebody on the end of the phone. A real entity, and lets face it nobody likes to lose to their bookie.
Every platform in the world has trouble when volumes get excessive, I think I mentioned that the CBOT was down for fully 3 hours the other day, if you had an open position in a CBOT contract then ‘tough’ you could not get out. (Laptop please ring them up and try your kitchen sink legal stuff on them). We could just close the platform to all trading and clear up any backlogs but we (and I am sure our clients as well) prefer to keep it open.
Laptop
You appear not to know that SB companies currently have a best execution waiver and can ‘legally’ accept or reject trades at their discretion. All trades placed by clients on all of the SB platforms are at a particular price AND NO OTHER PRICE. This is different to the real market where a trader can place a ‘Market’ order and get filled at the best price available even if his eventual fill level is significantly away from the price at which he put it in.. If SB companies started to slip prices on trades, then yes you would always get filled, but we would never hear the end of it on threads such as this.
Farce
If the price never reached anywhere near the stop level then we would indeed be in error in filling a stop. If we filled an order at an incorrect price (it does happen on miss-ticks from our feeds) then a simple telephone call will be enough to confirm it. I have stated many times on this thread that we never bias our prices and we never force a stop. Our feeds are taken from five of the biggest quoting banks in the world and I am very sorry to say that I believe them before I would believe a charting company. I get generally get these comments from people who use charts like meta trader and e-signal…. You cannot trade on these prices, they are just charts, so why would you think them better than prices on which you can trade. I speak as someone who has an e-signal chart in front of him at all times. As an example over the past few minutes the market has been very stable and our bank feed has had a permanent bid/offer in cable at 1.9034-1.9037. The e-signal chart has printed between 1.9031 and 1.9038 !!
I am happy that you are doing much better with your new trading platform and wish you all the best perhaps you can mention the name here of the platform you use and some of our other clients can have a go on it.
In FX the real underlying liquidity is provided by the major banks who provide prices to all of the FX systems. They have systems which prevent them from trading with each other on these platforms. Does anybody think that they do this out of the goodness of their hearts? They happily give liquidity all over the world because they know that in the long run they will win and the clients will lose. Every in depth study made on every exchange gives the same result on private client trading. We have never, ever, ever closed a client who makes money and we never will. We have never made it difficult for someone to trade and never will. We only reject prices that are outside of the current spread by the time the dealer gets it. The problem with many FX dealers is that they only ever trade with us (and I mean only ever trade) when they can see that they have an edge when compared to a live feed (i.e our price may be delayed for a second or two). If a client continually does this then, of course, the dealers may take more notice of him/her and check the levels more closely.
I do wonder how many times I have to say that we are an SB company not an FX platform. In reality (and I can honestly say this) we really take virtually no notice of who is trading and do not intentionally discriminate against anyone. I almost wish we had never offered FX in the first place!
I am supposed to be taking a holiday after today (if I can get out of heathrow) but I will have a look occasionally to answer any questions.
Simon
sambar
I have commented quite extensively about winners and losers.... in reality we treat them no differently AND have only ever closed an account for either reasons of fraud or being excessively rude to my staff. I can assure all our clients that our proportion of winning clients is actually slightly higher than the latest percentage who win using ‘direct access’ platforms. This is probably because we force stops on all client positions and do not ring up trying to get further margin on losing bets.. thus tempting them to throw good money after bad!
Order fills are treated exactly the same no matter what the size in FX and indices. In equity markets they are treated differently as we must take into account the liquidity available in the shares in which the order has been placed.
cooltrader
we have an audit trail on every trade made by a client /every action made/time of order activation etc etc... if a client has placed a trade before an order is hit but we execute the order first (thus canceling the closing bet) then we will have an audit trial of that fact. If any client feels that he has had this happen he can call us and we can check this against the audit trail. It really is just a perception that we may delay order fills or trade acceptances. We are not interested in annoying clients or grabbing the odd pip here and there. In reality if there is any significant delay it is because a large number of clients wish to trade at the same time.
I sometimes feel that the real reason for the bad feeling over SB companies is because when somebody loses thay know that it was the SB company that won. When you lose on the exchange there is just yourself to blame for getting it wrong whilst with us there is actually somebody on the end of the phone. A real entity, and lets face it nobody likes to lose to their bookie.
Every platform in the world has trouble when volumes get excessive, I think I mentioned that the CBOT was down for fully 3 hours the other day, if you had an open position in a CBOT contract then ‘tough’ you could not get out. (Laptop please ring them up and try your kitchen sink legal stuff on them). We could just close the platform to all trading and clear up any backlogs but we (and I am sure our clients as well) prefer to keep it open.
Laptop
You appear not to know that SB companies currently have a best execution waiver and can ‘legally’ accept or reject trades at their discretion. All trades placed by clients on all of the SB platforms are at a particular price AND NO OTHER PRICE. This is different to the real market where a trader can place a ‘Market’ order and get filled at the best price available even if his eventual fill level is significantly away from the price at which he put it in.. If SB companies started to slip prices on trades, then yes you would always get filled, but we would never hear the end of it on threads such as this.
Farce
If the price never reached anywhere near the stop level then we would indeed be in error in filling a stop. If we filled an order at an incorrect price (it does happen on miss-ticks from our feeds) then a simple telephone call will be enough to confirm it. I have stated many times on this thread that we never bias our prices and we never force a stop. Our feeds are taken from five of the biggest quoting banks in the world and I am very sorry to say that I believe them before I would believe a charting company. I get generally get these comments from people who use charts like meta trader and e-signal…. You cannot trade on these prices, they are just charts, so why would you think them better than prices on which you can trade. I speak as someone who has an e-signal chart in front of him at all times. As an example over the past few minutes the market has been very stable and our bank feed has had a permanent bid/offer in cable at 1.9034-1.9037. The e-signal chart has printed between 1.9031 and 1.9038 !!
I am happy that you are doing much better with your new trading platform and wish you all the best perhaps you can mention the name here of the platform you use and some of our other clients can have a go on it.
In FX the real underlying liquidity is provided by the major banks who provide prices to all of the FX systems. They have systems which prevent them from trading with each other on these platforms. Does anybody think that they do this out of the goodness of their hearts? They happily give liquidity all over the world because they know that in the long run they will win and the clients will lose. Every in depth study made on every exchange gives the same result on private client trading. We have never, ever, ever closed a client who makes money and we never will. We have never made it difficult for someone to trade and never will. We only reject prices that are outside of the current spread by the time the dealer gets it. The problem with many FX dealers is that they only ever trade with us (and I mean only ever trade) when they can see that they have an edge when compared to a live feed (i.e our price may be delayed for a second or two). If a client continually does this then, of course, the dealers may take more notice of him/her and check the levels more closely.
I do wonder how many times I have to say that we are an SB company not an FX platform. In reality (and I can honestly say this) we really take virtually no notice of who is trading and do not intentionally discriminate against anyone. I almost wish we had never offered FX in the first place!
I am supposed to be taking a holiday after today (if I can get out of heathrow) but I will have a look occasionally to answer any questions.
Simon
marlintrdg
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capitalspreads said:
Simon Come to 'd Bahamas mon, no flight problems here, just darn HOT
capitalspreads
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jbat
for information purposes the gentleman (!!?) you refer to was never employed by LCG (although he did indeed claim this fact). He worked for a company called Obsideo who used LCG's clearing facilities and rented floor space off us.
Because they cleared through us he may well have been registered by us through the FSA.
Simon
for information purposes the gentleman (!!?) you refer to was never employed by LCG (although he did indeed claim this fact). He worked for a company called Obsideo who used LCG's clearing facilities and rented floor space off us.
Because they cleared through us he may well have been registered by us through the FSA.
Simon
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capitalspreads
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martintrdg
sounds good but going in the opposite direction.....
Simon
sounds good but going in the opposite direction.....
Simon
Jbat001
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capitalspreads said:
Indeed - between 2002 and 2004, and was CF26 authorised for customer trading, hence why I thought he might have been one of your dealers before his dubious essai into the world of ersatz-celebrity television.
Once again, many thanks for sifting through all these messages and taking the time to reply - it all adds to the already good reputation of Capital Spreads.
coolTrader
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capitalspreads said:
Simon I do call... I don't like calling and haggling over price. In fact I had to haggle for a good price with one of your senior dealers "M".
So I prefer not to do that by the time I have finished deciding the price my focus is taken.. I am sure you appreciate that.
I have stated the problems.. and you know they are there...
By the way is that part of my money you are taking on Holiday
May the rains go with you :cheesy:capitalspreads
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cooltrader
yeah I know it is difficult and I really do apreciate this stops people from complaining when they may have every right to do so. But it is always worth you sending an e-mail to get it checked out.
We know what the problems are. I have spent most of this morning in meetings with IT developers and the main focus has been on the deal acceptance times ... we are pushing through seperated dealer systems / auto trading / new dealer interface which should all combine to improve things (hopefully dramatically).
I shall ensure that I particularly enjoy my first beer and toast your good health.
Simon
yeah I know it is difficult and I really do apreciate this stops people from complaining when they may have every right to do so. But it is always worth you sending an e-mail to get it checked out.
We know what the problems are. I have spent most of this morning in meetings with IT developers and the main focus has been on the deal acceptance times ... we are pushing through seperated dealer systems / auto trading / new dealer interface which should all combine to improve things (hopefully dramatically).
I shall ensure that I particularly enjoy my first beer and toast your good health.
Simon
