lurkerlurker
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No problems from my end. This is a discussion forum about CS, and you are free to say anything you want within the guidelines of T2W. Your presence and views are not a problem.
No problems from my end. This is a discussion forum about CS, and you are free to say anything you want within the guidelines of T2W. Your presence and views are not a problem.
The same goes for me. It is always good to have someone to come in with a different point of view. To observe and understand the issue from different perspectives is always beneficial.
Phil Mibbutz
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Looks like FXScalper2 was another one who went long on cable yesterday!
FXSCALPER2
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Hello Simon
Thought i would ask a question on here and go straight to the Head honcho as repeated requests via Customer services have failed to rectify the faults .
The faults on the platform have not been rectifed by the third party IT company you sub contract out to the software, the faults are as follows :
It is impossible to remove or amend the client portfolio ie . you can add a stock or index to the portfolio account but you can`t remove the said position via the delete icon (dustbin) hence it becomes full quite quickly
The search facilty does not work on the site
The site often closes down the browser which is open at inconvenient times even though the java is updated at regular intervals
This last point is more a request than an issue .Would it be possible to switch to automatic fill on open 8.05am as the time lag which occurs in obtaining a fill is very slow and fill time poor .
Excuse me for going via this route as i`ve tried over a period of 3 months to have these issues addressed but to no avail .I don`t see another alternative except closure of my accounts, which overall i`m happy with the service
Thank you for a prompt reply
Thought i would ask a question on here and go straight to the Head honcho as repeated requests via Customer services have failed to rectify the faults .
The faults on the platform have not been rectifed by the third party IT company you sub contract out to the software, the faults are as follows :
It is impossible to remove or amend the client portfolio ie . you can add a stock or index to the portfolio account but you can`t remove the said position via the delete icon (dustbin) hence it becomes full quite quickly
The search facilty does not work on the site
The site often closes down the browser which is open at inconvenient times even though the java is updated at regular intervals
This last point is more a request than an issue .Would it be possible to switch to automatic fill on open 8.05am as the time lag which occurs in obtaining a fill is very slow and fill time poor .
Excuse me for going via this route as i`ve tried over a period of 3 months to have these issues addressed but to no avail .I don`t see another alternative except closure of my accounts, which overall i`m happy with the service
Thank you for a prompt reply
oiltanker
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they fixed the portfolio thing within a hour of emailing on mine. Although the prob is back again. One consequence was i sold a gold contract [by clicking the wrong box] rather than ftse one and wondered why i was losing money fast. I got out of that pretty quick just before it raced off. Made the money back on the ftse.
Fills ok for me.
Are you doing large size ie £10 pt for just a few pips? That seems to be where the problems come?
one thing i would say is that wherever you think your stop should be i found i need to add at least the spread of the instrument to that to prevent it being hit.
Fills ok for me.
Are you doing large size ie £10 pt for just a few pips? That seems to be where the problems come?
one thing i would say is that wherever you think your stop should be i found i need to add at least the spread of the instrument to that to prevent it being hit.
Well today was a shocking performance from Capital Spreads
The platform wouldn`t fill nothing after the volatilty of the non farm figures .Capital platform kept indicating "check open positions"
Trying to get through via phone was also a waste of time .This needs to be looked at quickly
If this persists this is one customer who`s leaving
The platform wouldn`t fill nothing after the volatilty of the non farm figures .Capital platform kept indicating "check open positions"
Trying to get through via phone was also a waste of time .This needs to be looked at quickly
If this persists this is one customer who`s leaving
capitalspreads
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best execution was not entirely covered by Mifid...sorry. They put the onus on the SB companies to define their execution policies which I understand they have all done, and all our clients at the beginning of November had to agree to them.
We must put our execution policy in a prominent place on our platform and you will find it under FAQ's with the Terms and Conditions. I generally find most of these complaints about fills come from the same people (on different threads about all the SB companies) who think that they should get the bet no matter what. I am afraid that sometimes you just miss the deal (tough). In the real world if you put a sell bet into a rising market you will always get a fill (every single time), if you put a buy bet into a rising market at a specific price you will often miss the price. The difference between a spread betting company and the 'real' market is that you can put a 'market order' in the real market which just says 'buy at the best price possible'. This is not possible with an SB where every price is a 'request to deal'. Rather like trying to trade in market making equities. For all of the semi legalese jargon spouted by various people I am afraid that nobody has ever defeated an SB company in court on its fills policy or the practice this policy is put to.
As mentioned we are always trying to improve fill speeds as it does us no good to have delays (no matter what people think). Improvements are in the pipeline.
Simon
We must put our execution policy in a prominent place on our platform and you will find it under FAQ's with the Terms and Conditions. I generally find most of these complaints about fills come from the same people (on different threads about all the SB companies) who think that they should get the bet no matter what. I am afraid that sometimes you just miss the deal (tough). In the real world if you put a sell bet into a rising market you will always get a fill (every single time), if you put a buy bet into a rising market at a specific price you will often miss the price. The difference between a spread betting company and the 'real' market is that you can put a 'market order' in the real market which just says 'buy at the best price possible'. This is not possible with an SB where every price is a 'request to deal'. Rather like trying to trade in market making equities. For all of the semi legalese jargon spouted by various people I am afraid that nobody has ever defeated an SB company in court on its fills policy or the practice this policy is put to.
As mentioned we are always trying to improve fill speeds as it does us no good to have delays (no matter what people think). Improvements are in the pipeline.
Simon
capitalspreads
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i am actually on holiday and have been for the last 2 weeks so this (and the last post are my first return). Discussions about profits are a little odd as we are a quoted company (as are a couple of other SB companies, and maybe some more soon if the rumours are true) all trading information is there for those who wish to dig. For the record we make money not because of rejecting trades but because people do not follow the basic rules of trading (cut losses/run profits/do not trade over major figures/do not move stops further away etc etc). The big investment banks make billions of pounds a year, how do you suppose they make it. A good proportion is from running Bad Client positions and covering Good Client positions. To think that an SB company is going to act any differently is frankly naive.
We put some traders to dealer intervention and they are aware of it. From looking at other threads they seem to be put on dealer intervention with other SB companies as well. They presumably have an inkling of why this happens. Frankly some dealers only ever trade on pip slippage... why should we give them the time of day...they are not trying to deal on a flat playing field but attempting to 'pre-empt' our feed. Mifid is quite clear on execution policy and I would advice those (always the same people) who complain about the fill policy to read it and read our one as well.
trusted
i was alerted to your problems and immediately contacted the developers to get it fixed . I think it has now been done. Sounds good but in reality they were about to load it anyway.
Simon
We put some traders to dealer intervention and they are aware of it. From looking at other threads they seem to be put on dealer intervention with other SB companies as well. They presumably have an inkling of why this happens. Frankly some dealers only ever trade on pip slippage... why should we give them the time of day...they are not trying to deal on a flat playing field but attempting to 'pre-empt' our feed. Mifid is quite clear on execution policy and I would advice those (always the same people) who complain about the fill policy to read it and read our one as well.
trusted
i was alerted to your problems and immediately contacted the developers to get it fixed . I think it has now been done. Sounds good but in reality they were about to load it anyway.
Simon
Filled after NFP figure
Well, to be honest I went short a minute after the NFP figure was released and got filled almost instantly. On the other hand, it was only a 1 pound per point bet on Daily FTSE so this is probably the reason why some bets (small ones) get filled and some (large ones) not.
Well, to be honest I went short a minute after the NFP figure was released and got filled almost instantly. On the other hand, it was only a 1 pound per point bet on Daily FTSE so this is probably the reason why some bets (small ones) get filled and some (large ones) not.
Thank you for the prompt reply Simon
As good as your word the portfoilio has been rectified .
The issue on Friday after NFP figs needs addressing asap also as you would concede leaving a trader with "check open positions" isn`t really satisfactory in a fast moving market. I understand the volatilty issue but it would be far better to leave the trader in no doubt if a trade has been filled or not,the current system leaves the trader uncertain if a fill is made or not. It doesn`t appear to be a glitch with some of the competition ...but at least Caps stay open throughout which i praise .Finspreads conveniently switch to phone only , please never go this route as it will be the down fall of many a SB company as clients leave in their droves .Customer satisfaction is paramount and should be balanced with the companies forecast going forward .ie better to have an increasing customer base and lower margins and a dwindling one trading on higher margins.I`ve noticed recently some increase in spreads .Please consider the glitches above as constructive comments rather than snipes at what overall i see as a reasoanble SB company who do generally try to be fair .If you chase profits and forget about customer care then churn will increase rapidly.
lurker thanks for your email , likewise oiltanker .Zito even trading in increments on Friday was impossible via the cap spreads platform .I recieved 5 notices of "Check open positions" after each failed attempt at a fill.
As good as your word the portfoilio has been rectified .
The issue on Friday after NFP figs needs addressing asap also as you would concede leaving a trader with "check open positions" isn`t really satisfactory in a fast moving market. I understand the volatilty issue but it would be far better to leave the trader in no doubt if a trade has been filled or not,the current system leaves the trader uncertain if a fill is made or not. It doesn`t appear to be a glitch with some of the competition ...but at least Caps stay open throughout which i praise .Finspreads conveniently switch to phone only , please never go this route as it will be the down fall of many a SB company as clients leave in their droves .Customer satisfaction is paramount and should be balanced with the companies forecast going forward .ie better to have an increasing customer base and lower margins and a dwindling one trading on higher margins.I`ve noticed recently some increase in spreads .Please consider the glitches above as constructive comments rather than snipes at what overall i see as a reasoanble SB company who do generally try to be fair .If you chase profits and forget about customer care then churn will increase rapidly.
lurker thanks for your email , likewise oiltanker .Zito even trading in increments on Friday was impossible via the cap spreads platform .I recieved 5 notices of "Check open positions" after each failed attempt at a fill.
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Enjoy your holiday Simon!
What you are actually saying in the above, Simon, is that you have signed away the MiFID "Best execution" directive. I cannot see that to be in line with the intention of the EU directives.
Instead of generally complaining about some of your clients on this thread as being 'bad boys, please present facts that support your viewpoint.
In the 'real market', you don't have to linger in the air for a minute, hoping that your order will get executed. That is, if the market went your way, during that time. It might even turn around and go heavily against you by the time your dealers finally have time to get a look at your order. Also you do not get as many order rejections from the 'real market' either. The CS trading platform is out of date during a volatile market, it does not perform well or even cope with the traders demand. You don't have to go to court to get confirmation, I am quite sure you will see it, both in a stagnating turnaround and client base in the year to come, unless something is done about it.
0007
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FXSCALPER2
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That is just a load of nonesense, Simon and I think you know it.
1- If it is true that people don't lose money because of fills but because the 'basic rules of trading', then why not just fill them instantly, every time? You are a bookie, no? If they lose anyway, why bother?
2- If trading the news is so bad for your clients, then why are you nervous during news releases and make it impossible to trade?
I rally have no problem with your delays and dealer interventions. What annoys me is your ridiculous explanations. Trading the news used to be one of the best ways to make money trading FX before the brokers made it impossible. You can say they are justified in doing that, but don't give us BS about 'trading rules' please.
I believe you when you say your clients would lose with or without your help, in which case the only explanation for the delays and interventions is just greed. You are a bookie and you don't want want people to win money from you day in day out.
OCO Orders
Hi, does anyone know if CS has disabled OCO orders recently? I normally enter manually but this time I'd like to enter an OCO order and the OCO part of the order is greyed out. It hasn't been like this before and I remember I used to be able to enter OCO orders. Any ideas? Thanks.
Hi, does anyone know if CS has disabled OCO orders recently? I normally enter manually but this time I'd like to enter an OCO order and the OCO part of the order is greyed out. It hasn't been like this before and I remember I used to be able to enter OCO orders. Any ideas? Thanks.
Well i`ve just about had it at the present with Capital Spreads .I waited for 1 minute for a fill today AFTER the volatility today and tried to place an order only for it to get rejected .I took this to the dealers who blamed the volatilty .I pointed out it was AFTER the data .They simply won`t fill the position if it`s it going in the right direction .After 4 years with this company i`m withdrawing my funds if this continues unabated .This reallly needs addressing quickly .How can you trade with a company which only fills bets that go against you
The dealer checked the audit trail and verified the position but wouldn`t fill it .You can only trade on prices made by the SB companies/market .The market wasn`t even moving fast but it had spiked up and i attempted to sell the spike .
Can i ask if others are experiencing this.I orinally came on the thread to resolve the technical issues on the platform .I don`t know what has changed recently but the stabilty of the platform has improved but the service and speed of execution is diabolical .You simply can`t trade on this platform at key times or for a period of time afterwards .I believe they are are emulating Finspreads and switching everything at key times to dealer intervention only thereby negating auto fills .There isn`t any other explanation.
The dealer checked the audit trail and verified the position but wouldn`t fill it .You can only trade on prices made by the SB companies/market .The market wasn`t even moving fast but it had spiked up and i attempted to sell the spike .
Can i ask if others are experiencing this.I orinally came on the thread to resolve the technical issues on the platform .I don`t know what has changed recently but the stabilty of the platform has improved but the service and speed of execution is diabolical .You simply can`t trade on this platform at key times or for a period of time afterwards .I believe they are are emulating Finspreads and switching everything at key times to dealer intervention only thereby negating auto fills .There isn`t any other explanation.
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Get out of there!. I suppose you're making money off them. If your account was down from your opening balance they tend to leave you alone. I have warned many before of thier tricks. CS are no different to the other spreadbet firms. I trade with IG for position trades. I screen shorts all trades just in case. If you are day trading with a spread bet form forget it. You wont beat them
lurkerlurker
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I asked the same question a few months ago, and closed the account. I'm with another firm now, and get instant fills. Try one of the larger firms - City Index, IG, or CMC. You will most likely get better fills with them. City Index have an execution policy that says with a few exceptions everything below "their size*" goes straight through at the price you see on the screen. Open a few other accounts and try to trade with a different firm until you are happy. The three large firms have good spreads on all markets, as good as CS in almost all cases except the FTSE 100 cash. If you don't trade the FTSE, go elsewhere.
Let us know how you found the fills at other companies. It is a free market and if other brokers provide a better execution than CS for the same price (spread) then vote with your feet. This gives CS a market incentive to improve, while helping your trading meanwhile.
Suck it and see!
lurkerlurker
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Every bucket shop with the possible exception of IGIndex goes to dealer intervention over figures. This is to stop people with faster feeds trying to pick them off. However, when I was with CS the fills were bad most of the time, not just over figures. I don't trade figures with SB companies because I would either get slipped on an order or not filled when I was trying to get out of a 50+ spike against me.
If the fills are bad around news, get a DA account for trading over news. If your other trading is affected, switch to another firm.
Well i`ll wait and see if i can get a good , honest reply .It`s not as though i`m attempting to defraud them i`m simply trying to deal on a price created by them and the market .I know there will be many hundreds if not thousands attempting to deal at the same price , but the price was indicated and it was the speed of execution which caused the "Price no longer valid " ticket .
I`ve been trading 20 years and used an IB platform previously , the tax advantages of SB were appealing . It`s a pity the literature doesn`t match what it says on the packet .Initially i found their service very good and customer service excellent.Now as the customer base increases both are faltering . It will reach a saturation point and the churn rate will increase rapidly if they don`t improve on some of the points mentioned .
Can i ask some others who use CS to show some solidarity if these problems persist .I intend to close the account if this doesn`t improve quickly ,can i ask others to follow suit at an agreed time and date. This isn`t anything personnel against Simon or CS as i`m sure they`re not just targetting me and it`s a general issue which needs to be fixed quickly
I`ve been trading 20 years and used an IB platform previously , the tax advantages of SB were appealing . It`s a pity the literature doesn`t match what it says on the packet .Initially i found their service very good and customer service excellent.Now as the customer base increases both are faltering . It will reach a saturation point and the churn rate will increase rapidly if they don`t improve on some of the points mentioned .
Can i ask some others who use CS to show some solidarity if these problems persist .I intend to close the account if this doesn`t improve quickly ,can i ask others to follow suit at an agreed time and date. This isn`t anything personnel against Simon or CS as i`m sure they`re not just targetting me and it`s a general issue which needs to be fixed quickly
