Best Thread Capital Spreads

[adorozlondyn]

adorozlondyn

FTSE is quoted to 1 decimal place. Are u sure that you did not sell at say 5568.0 and then buy at 5567.3 (a difference of 0.7) which would give a p/l of £2.10.

check your deal tickets... if the price gap is indeed 1 full point then there is an error. This would be a new one on me as I cannot remember the system ever making a calculation error before. but there is always a first time.

80% number

I must admit it was a new one on me having the fact that I am honest enough to say to clients BEFORE they even open an account or start trading that they only have a one in five chance of being a winner being described as some sinister way of loading any blame elsewhere.

That kind of thinking has 'conspiracy theory' written all over it. Hanger 57. Moon landing. JFK assasination ..... obviously 'they' are hiding something from you.

Looking at other data out there we believe that CS client winner percentages is actually higher than other SB companies and is certainly higher than private client Direct Access futures/FX trading percentages.

knight trader

your comment would be fine if there was any actual dodge... this only affects clients trying to change stops at the very, very last second and only when the activation of the stop by our monitors and the requested amendment from the client 'cross' in the system. As we have the audit trail and we always refund when it occurs I cannot quite see how this is unfair. Our decision is usually the same. That the order was amended too late and the original level stands.

This stems from the fact that we do not activate most stops automatically as we like to ensure that the activation has not been caused by a temporary illiquidity causing a widening of the spread or some such event.

On exchanges there is no such buffer. If XYZ share is quoted at 450-452 and somebody buys all the 452's then imagine there is no further offer until, say, 460 then any stop (or new order) set between the price of 452 and 460 will just be activated and the order will either appear on the platform (if the order is at a fixed price) or (if it is a stop) will turn into a market order and buy at the first available price.

Frankly as a trader I would rather have the CS method which does at least have some leeway for the client rather than the brutal black/white of an electronic exchange system

Exchanges only ever have to quote a limited number of markets and take all the information from one source. The LSE platform as it has been mentioned here, even then, is constantly having performance issues (witness last Friday when the data supply was effectively down for the entire afternoon). A rather more serious issue than a small spread betting company having a 5 or 10 minute pricing issue. CS has to quote many thousands of prices sourced from across the globe from difference data suppliers merge them and place them in a simple and accurate fashion to our clients. I would like to point out that much bigger companies than us have far bigger robustness problems than CS. (especially recently)

Simon

hi,

i did check so if we have 1 decimal why i have on my acc. as fallow 0.0, 0.1, 0.3 ,0.5, 0.8:

where are 0.2,0.4,0.6,0.7 etc:?::?::?:

If you consider the simples statistic methods one must hit one of them as well ....

i know maybe for you this is not very important but if i get 0.1 extra on both sides thats make spread 1.2 not a 1 point as you claim?

This is not a complaint is just a question:cheesy:

thank you
adam

 

[gle101]

If you're not trading shares, the LSE price feed is irrelevant.

While profitability may not depend on the platform entirely, you can't argue that it will have no effect. If I make less money (or lose more) because of it then it's a serious issue.

They have to have a feed for stocks as well, bottom line, they are depended on the different exchange feed coming through.

 

[capitalspreads]

adorozlondon


the prices are taken from an average of the bid plus the offer over two and then the spread put around it. As the bids and offers on the exchange are always half or a whole number this means that some decimal places just never get quoted

Simon

 

[FXSCALPER2]

It takes a particular kind of mug to even believe that Capital Spreads gives a damn about its clients. Simon cannot be for real. He comes here and says 80% lose, blah blah. Why the heck are you telling us that until you are blue in the face? What has that got to do with your platform locking people out of their positions, opening positions which you say has been rejected and taking minutes to fill market orders. Why do you even bother to repeat this mundane statistic. It is too obvious: you don't want to lose an advantage to steal from and confuse your clients.

I am prepared to bet that, if you complain about any other broker's platforms, they wouldn't say '80% losy anyway' because they would be laughed out of court. It is such a stupid ploy and completely irrelevant. You see you problem, Simon-80%, is you have the mentality of a bookie and should work in a casino. You have a problem with the fact that the financial markets are not rigged. It is clearly difficult for you to accept a game where you don't know whether you will win or lose. Either charge commission or open a bloody casino and stop panicking.

 

[FXSCALPER2]

adorozlondon


the prices are taken from an average of the bid plus the offer over two and then the spread put around it. As the bids and offers on the exchange are always half or a whole number this means that some decimal places just never get quoted

Simon

Don't forget to tell him 80% lose anyway. :cheesy::cheesy::cheesy:

 

[adorozlondyn]

adorozlondon


the prices are taken from an average of the bid plus the offer over two and then the spread put around it. As the bids and offers on the exchange are always half or a whole number this means that some decimal places just never get quoted

Simon

Thank you , now is clear i will continue using you platform:clap::cheesy:

adam

 

[gle101]

It takes a particular kind of mug to even believe that Capital Spreads gives a damn about its clients. Simon cannot be for real. He comes here and says 80% lose, blah blah. Why the heck are you telling us that until you are blue in the face? What has that got to do with your platform locking people out of their positions, opening positions which you say has been rejected and taking minutes to fill market orders. Why do you even bother to repeat this mundane statistic. It is too obvious: you don't want to lose an advantage to steal from and confuse your clients.

I am prepared to bet that, if you complain about any other broker's platforms, they wouldn't say '80% losy anyway' because they would be laughed out of court. It is such a stupid ploy and completely irrelevant. You see you problem, Simon-80%, is you have the mentality of a bookie and should work in a casino. You have a problem with the fact that the financial markets are not rigged. It is clearly difficult for you to accept a game where you don't know whether you will win or lose. Either charge commission or open a bloody casino and stop panicking.

Simon is real alright, we all know that. I am starting to wonder about you.

 

[gle101]

Some very good points. However, I think the main reason why people dont move is that thex continue to swallow the stat that is fed to them by CS that "over 80% lose money". This is a way of SB companies pushing the blame on their deliberately inept platform and dubious filling practices onto the client in order to absolve themselves of responsibility.

Thanks zuke. I understand your viewpoint, for the bank sector, this might be valid. Capitalspreads has 10k+ clients. I think that they are quite capable of deciding for themselves the right SB outfit. I do not think that they are collectively deceived by CS the way you are implying. I don't have any figures over the mobility of SB clients, but along with competition, it has certainly increased over the years. Also many traders have an account with several SB companies (myself an example of that).

 

[zuke]

Thanks zuke. I understand your viewpoint, for the bank sector, this might be valid. Capitalspreads has 10k+ clients. I think that they are quite capable of deciding for themselves the right SB outfit. I do not think that they are collectively deceived by CS the way you are implying. I don't have any figures over the mobility of SB clients, but along with competition, it has certainly increased over the years. Also many traders have an account with several SB companies (myself an example of that).

As I have said all along, I was unhappy with CS so I moved. Others are capable of making up their own minds. all I can do is post honest feedback on the service that I have received from them during my time there.

 

[ceydababy]

Boring Now.....

This thread is getting boring. It is the same people repeating the same problems whilst the same people come back defending the platform.

I had several issues, posted them. Job done. Why the need to keep posting the same stories and complaints over and over again ???

Simon is highly unlikely to come on here and admit that the CS Platform is pants, nor are the people who defend the platform going to change their opinion.

The problem is, that by keep repeating these issues and to keep banging on about how Simon isn't responding or is 'lying' in his responses turns the whole issue personal in my opinion. It makes your points which may be valid look like personal attacks rather than a simple complaint about the platform/company. I even question how many people posting all these complaints/attacks actually still have or use a CS Account.

Me I used them, my first SB company. Found that I had some issues, formed the opinion that they were crap posted here and Moved on to IG. It's simple. If you think they're crap, join someone else, if you think they're good stay with them. It's SIMPLE

Don't keep trotting out the same stories over and over again, it get's very boring for the reader.

At the end of the day Simon does at least come on here and give some form of response to all this crap that's flying around. I really don't know what anyone expects him to say ??
I wouldn't imagine him doing a Ratner.

BUT let's be honest, numbers talk. If the platform is bad and has the glitches a lot of us know about, maybe the numbers of people moving away may tempt CS to do some serious upgrades. However, with 10,000+ clients CS probably have no real need to take such action.

So in short...

IF YOU'RE UNHAPPY MOVE, IF YOU'RE HAPPY STAY. BUT PLEASE COULD THE SAME PEOPLE STOP REPEATING THE SAME STORIES/SENTIMENT OVER AND OVER AGAIN. Give someone new a chance to complain !!

 

[nine]

So in short...

IF YOU'RE UNHAPPY MOVE, IF YOU'RE HAPPY STAY. BUT PLEASE COULD THE SAME PEOPLE STOP REPEATING THE SAME STORIES/SENTIMENT OVER AND OVER AGAIN. Give someone new a chance to complain !!

Good sound advice. To keep doing the same thing, getting a bad result, and not changing is not a good strategy for a trader.

 

[gle101]

IF YOU'RE UNHAPPY MOVE, IF YOU'RE HAPPY STAY. BUT PLEASE COULD THE SAME PEOPLE STOP REPEATING THE SAME STORIES/SENTIMENT OVER AND OVER AGAIN. Give someone new a chance to complain !!

I agree, you got some valid points. On the other hand people like to communicate and some subjects are interesting to discuss further, from a traders points of view. Or is a thread like this for CS, only for complaints? If that is the case I have surely missed the point.

 

[ceydababy]

I agree, you got some valid points. On the other hand people like to communicate and some subjects are interesting discussing further, from a traders points of view. Or is a thread like this for CS, only for complains? If that is the case I have surely missed the point.

GLE...Comment at the end was tongue in cheek ! However, ANY thread is going to get boring if the only discussion was the same people re-hashing the same story and re-writing it in many different ways. With the same people responding in EXACTLY the same way.

The point I'm making is.... make your point and move on.

 

[gle101]

GLE...Comment at the end was tongue in cheek ! However, ANY thread is going to get boring if the only discussion was the same people re-hashing the same story and re-writing it in many different ways. With the same people responding in EXACTLY the same way.

The point I'm making is.... make your point and move on.

With some afterthought, I do see your angle on this, and will take you at your word. I will move on to other forums that might be more suited for this kind of discussion. I hope that the discussion on this board gets not only more versatile, but is also carried out on a note of mutual respect.

 

[capitalspreads]

To say that any platfrom is perfect or that CS does not have client complaints would be ridiculous.

But if you look at the threads on t2w all of the SB platforms seem to have pretty much the same wild accusations thrown about .. often by the same person!

CS has some 22K clients and we take over 20,000 trades a day. Yes, we reject some trades. Yes, some clients get put to dealer intervention. Yes, some deals get retroactively cancelled (when those deals fall within the specific description of a Price Error in our T&Cs). Yes, if a client is rude or aggressive to my customer services team their account will be closed.

We have spent and are spending vast sums (for a company of our size) on IT upgrades. Many clients will have noticed the improvements in recent months in speed of transaction, order filling and robustness of platform.

The work over the past year has been in keeping the platform up with the huge increase in client numbers and trade volumes and with the massive increases in market volatility whilst at the same time building for the improvements in the system process speeds. All this is in the back ground and largely unseen by our clients. In coming months we hope to be rolling out new front end products to improve the look and feel and overall trading experience.

A large number of clients have claimed that they have come to us via t2w. If there were genuinely a big level of discontent I do feel that this thread would be filled with rather more adverse comment. But in general it is the same five or six names who as, ceydababy mentions, seem to go over old ground ad nauseam.

I realise that everyone who has a gripe genuinely believes that CS is in some way loading the dice but aside from repeating over and over again that this is not the case there is little more I can do. Nearly every complaint has an answer based upon the clients own actions and it is seldom actually a system problem. Once more I would like to extend the invitation to anyone who wishes to visit to come into the dealing room and actually watch and experience a trading session in action. In the four years since I first made this offer on this thread there has not been a single taker.

Some of the comment has been, frankly, of the abusive variety which does more to damage the writer in the eyes of the reader than anything I might say.

Simon

 

[FXSCALPER2]

Simon,

Why would anyone believe what you say? You have a platform that is by far the worst I have ever seen and I have seen a lot over the last few years. No other SB company has a platform that rejects orders and then fills them 5 minutes later without any notice. You are boring us to death with your spin. It really is very simple. Fix your system so that:

1- You either accept or reject orders

2- if you are taking any time at all to fill a market order, then give the client the option to cancel before getting filled

3- If you say an order is rejected, make sure it then doesn't turn up as a filled order (losing no doubt) 10 minutes later

You cannot run a firm where you expose people to that kind of ridiculous risk and then say it is acceptable. It is not. What I find annoying is you keep on coming here and telling us why it is ok to not fix problems of that magnitude. This just is not fair and you look like a shady character going on and on telling us all sorts of things that no one who knows anything about trading would give a damn about.

Why can't you give people the option to cancel orders before they are filled? Why? CMC do it, for example. If you fix that and never fill an order after rejecting it, I wouldn't be even remotely interested in what you say or this thread.

You are an unfair and incompetent man who exposes people to unacceptable levels of risk and tries to fix a problem of your own making by taking back people's winnings. Fix your problems and I wouldn't even be here. If you don't find this entertaining, that is your problem. Trying to shut people down by suggesting it is boring isn't something you, as SB boss, should be doing. It suggests you have something to hide. FIX THE PROBLEMS because it is a dangerous SB company you are running.

 

[davecrom01]

Ok, not a repeat problem!

Right, this one isn't a repeat of the usual stuff.

I am in dispute with CS over a trade which (lo and behold!) they accepted, and I received a confirmation email saying "we are pleased to accept your trade at the following price." I also set a stop, and received a similar confirmation email.

Over night I closed the trade in profit and received a third email confirming the closing price for aprofit of around 60 pips.

So, this isnt the usual complaint about "why wont they accept my price?" or "why are they holding my trade for inspection before it appears?" OK?

This morning I get a "CASH JOURNAL" email saying the trade was reversed for "trading at the wrong price".

OK, this is probably just a mistake by CS and they are looking at it now, I'll let you all know how it goes when I find out.

Dave

 

[FXSCALPER2]

Right, this one isn't a repeat of the usual stuff.

I am in dispute with CS over a trade which (lo and behold!) they accepted, and I received a confirmation email saying "we are pleased to accept your trade at the following price." I also set a stop, and received a similar confirmation email.

Over night I closed the trade in profit and received a third email confirming the closing price for aprofit of around 60 pips.

So, this isnt the usual complaint about "why wont they accept my price?" or "why are they holding my trade for inspection before it appears?" OK?

This morning I get a "CASH JOURNAL" email saying the trade was reversed for "trading at the wrong price".

OK, this is probably just a mistake by CS and they are looking at it now, I'll let you all know how it goes when I find out.

Dave

That is basically what their problem is. You must be able to trade without having to go through all this all the time. They will give you back your winnings because this is going to look really bad but I why would you trade with a bookie which does this sort of thing all the time. Why?

 

[PipStar]

This morning I get a "CASH JOURNAL" email saying the trade was reversed for "trading at the wrong price".
Dave

Unfortunately, this is no longer an isolated incident at CS. May be you will get a refund but some have not been so lucky.

 

[blacknight11]

having read most of this thread it seems odd to me that the majority of people who only comment once or twice seems very happy but that it is always the same people who seem to have a grudge.

FXscalper seems pretty bitter and twisted.. and it is odd considering his moniker states "Any Coward can sit in his home and criticize"....

as it happens I have been a client for several years and have never had these problems. Trading in any size from 1 to 50 quid a point in a variety of markets i have had the odd trade rejected and once when I traded at a silly price, (i knew it was the wrong price but 'I had a go' ,you never know they might have missed it!), they rang me up and politely informed me that they were reversing the trade.

davecrom.. I noticed that the CS FX charts did look a bit odd first thing this morning . Did you trade on one of the strange prices in the small hours? If so then 'move on' as what else would you expect.

I also have accounts with IG and City (joke I know) and (although the IG platform is much more professional looking) I actually tend to get better trades away with CS and prefer the simplicity of it.

And before you ask... I do actually make money off them as well. (my name here is v.well disguised)

blacktrader