Best Thread Capital Spreads

Visaria said:
One point that no-one has mentioned so far - what would the point of spreadbetting be if the profits were to be taxed?

Anyone who is making sizeable amounts, that is enough for the taxman to take some interest, would presumably be trading in sufficient size to warrant going fully to direct access if they were now to be taxed on their profits. With the tax advantage removed, why would anyone pay more in spreadbet costs when trading through direct access would cost far less?

Leading on from this, would the taxes paid by these traders on the profits from direct access offset the decrease in the amount of tax that the spreadbet firm pays because it no longer has the business of these traders?
Click to expand...

:rolleyes:
 
gc1

eerrr...... the autotrading is on for most markets.in a limited size.. regular traders on our platform will be able to identify the computer 'trader name'. .

Some clients are identified as non auto acceptance.. these deals come through to the dealers... and before anybody asks .. these are people we identify as 'scalpers' .....not winning clients, who are not restricted at all.

Simon
 
abotrader

actually it appears that one of the questioners on this thread has kindly made a sort of precis of typical questions and answers made here. I have no idea who it is but hopefully there is nothing too controversial.

And I have to say my thanks go out to him/her

Simon
 
capitalspreads said:
gc1

eerrr...... the autotrading is on for most markets.in a limited size.. regular traders on our platform will be able to identify the computer 'trader name'. .

Some clients are identified as non auto acceptance.. these deals come through to the dealers... and before anybody asks .. these are people we identify as 'scalpers' .....not winning clients, who are not restricted at all.

Simon
Click to expand...

So that means I have been Identified as a scalper and explains why my trades are constantly been delayed and why you hold my trades and when it moves against me you put the trade through... Why don't we get a price has expired then on those ones?

Can we take a survey here on those who are on automatic trading... I dont know why I should be categorised as that as I dont have any bloomberg or fancy stuff except your system.

It will be interesting to know what you classify as scalping in great details.
 
Simon,

What you said about scalping is interesting. You stated previously that what you objected was to people who exploited feed delays. I asked you specifically and you stated that is how you defined scalpers. Now, you say the only people you put through dealers are those identified as scalpers. let us see how these two sit together.

If someone regularly (say 3 times a day) got in and out with 10 pips, without, as an earlier poster said, ever trying to exploit differences in feed, by your definition of scalping, he should be allowed to trade without being referred to a dealer and having any more rejects and delays than anybody else. This is only fair because he is trading successfully fair and square. However, you would have no idea why this trader is taking money away from you every day. Since he is taking amounts considered as scalping, will you then put him through a dealer or can he excute automatically? It can't possibly be true that you put only scalpers on dealer execution.
 
capitalspreads said:
... the autotrading is on for most markets.in a limited size.. regular traders on our platform will be able to identify the computer 'trader name'. .
Click to expand...

you name them! :eek: :LOL:
 
wow !

sometimes I am not sure if honesty is the best policy.

fx scalper

somebody who trades just three times a day, making the odd 10 pips here and there would not even impact our radar. We have over 8000 clients and under 10 are on dealer watch.

We have only recently put the auto dealer up and are still nervous about it so the limit is £10 a point (small I know, but a start)

Cooltrader

as i mentioned some markets are not in the auto arena .. are you trading in a minor FX cross? are you trading in greater than £10... maybe you are on our watch list. I will get the list reviewed to see what is happening.

Simon
 
capitalspreads said:
wow !

sometimes I am not sure if honesty is the best policy.

fx scalper

somebody who trades just three times a day, making the odd 10 pips here and there would not even impact our radar. We have over 8000 clients and under 10 are on dealer watch.

We have only recently put the auto dealer up and are still nervous about it so the limit is £10 a point (small I know, but a start)

Cooltrader

as i mentioned some markets are not in the auto arena .. are you trading in a minor FX cross? are you trading in greater than £10... maybe you are on our watch list. I will get the list reviewed to see what is happening.

Simon
Click to expand...

major fxcross
 
Simon,

Your honesty and superb customer service is appreciated a great deal. I have traded with different brokers using various methods over the years. For a lot of reasons, I am thinking of using CS for my day trading. To this end, I did give your platform a shot and put a small amount in my account and did some tiny trades irregularly and I always got a dealer name with the few trades I did. This just makes no sense to me especially given you have only 10 traders out of 8000 on dealer watch.
 
Ah yes yes, I see I am on and autotrader and he apparantly goes by the name of Jon....(as in Johnny Mnemonic perhaps!).

Anyway, there are good and bad points about Jon. He is much faster than the human traders, which is good. He slips prices (stop-losses) more often than humans, which is bad. It looks like Jon trades on the 'next best price', which has costs me a few pips here and a few pips there. So far though, there have been no slip-ups in my favour, making me suspicious that CS has programmed Jon with a bias (but I am sure I am being paranoid here...Simon?). Other platforms don't have this kind of slippage in non-fast markets and I think a Jon V.20 may be required. Either way, I recommend not increasing Jon's V1.0's limit from £10 a point right now, as this slippage issue could get annoying!
 
abotrader

i think you are right ...you are the first client to have mentioned this..I was unaware of it (truly)..give us a list of slipped prices (not over a figure) and we will credit you the numbers... i will get IT onto this immediately.

FX scalper

we may have had 'john' turned off when you were testing.. he gets tired and wants a cup of coffee sometimes....

Simon
 
I have no idea what that means, Simon.
capitalspreads said:
abotrader

i think you are right ...you are the first client to have mentioned this..I was unaware of it (truly)..give us a list of slipped prices (not over a figure) and we will credit you the numbers... i will get IT onto this immediately.

FX scalper

we may have had 'john' turned off when you were testing.. he gets tired and wants a cup of coffee sometimes....

Simon
Click to expand...
 
Simon,


Just a quick question - have we moved (or are we in the process of doing so) to 24 hour trading on the minor FX, specifically my old favourite USD/SEK?

Last week there were some days where it closed at 9pm as usual, then others it went to 24 hour, and I'm not sure if we're back again now. Can you shed any light? Many thanks in advance, as always...
 
jbat

the market is set for 24 hr trading BUT it does time out if there are no price changes within a certain period, which in all honesty is probably quite frequently in the middle of the night for the SEK. Also the spread widens to a slightly eye watering 80 pips. So probabably not a market for short term speculation!!

Simon
 
capitalspreads said:
the novice

our quotes are based around the the actual bid offers in the market. Although the lowest actual trade in a particular stock may be at a certain price that does not mean that there was actually a bid available in the market. For example if a share is quoted at 458-460 our quote may be 457.7-460.3. With the bid supported by 5000 shares. Somebody hits the 5000 shares at 458 and the next bid is 450. Our quote will immediately reflect this and widen considerably. Of course eventually a new bid at a more reasonable price eveantually gets posted at which time our quote will narrow again. We do not stop out clients on these events as we wait to ensure that the widening is not just a one off. Of course when you look at the charts from the exchange they will show actual trades whereas we take our charts from our Bid.

brake

the difference is that the charts are taken from the bid of our quote whereas the high low on the information is taking the Low bid and the High offer. So in the March FTSE the (which has a spread of 4) the high will almost always be 4 higher on the info button than on the chart. The charts are for information perposes only and may not reflect every single tick price quoted on our platform.

we do quote the quarterly wall street if you click on indices then choose the American indices in the drop down box you will find the quarterly wall street if you scroll down the page.

the spike was caused when we switched from exchange priced information feed to our own price action feed (the dealers put the wrong value in one of the fixing boxes! ) of course we would never stop a client out on such an event. If you read the Terms and Conditions you will see that a 'Pricing Error' gives clients exactly the same protection as it gives to us in the event of incorrect prices hitting the trading platform.

sambinho

the demo account is controlled by computers and they are unable to detirmine whether a price is incorrect or not. On the live site naturally we ignore feed blips of this nature.

Steve

at the moment we are happy to accept or decline trades from our customers on the binary platform. If we feel the price is incorrect we will reject a trade. But at the moment we will not prevent clients from trading even if they are winning. BUT we are not silly in line with every bookie in the world if a client continues to win money from us in a market in which we are unable hedge we would probably look to restrict him in some way. As do IG, Finspreads, Cantors etc ... the solution to your question would no doubt be an exchange scenario (as per bet fairs financial bets) but it is difficult to get a trade on in an exchange enviroment because API links from providers are faster than you can place the trade so that you are unlikely to be filled unless the price was against you.
In reference to the above we have never stopped (in all two years of being in business) a client from trading on our spread betting platform no matter how much they win.

simon
Click to expand...

Capitalspreads - I am just looking at Binaries and was interested in your reply here. You say that if a client continues to win money from you then you may restrict him/her in some way. What kind of amounts are you talking about here - £1000/week or £1000/month or what?
 
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