It is kind of hard to update the stop loss if the site is down. I have said this several times on this forum, one has to have a reliable SB where one can hedge the position in case of an emergency. One thing is for certain, CS need to address these constant trade rejections, this problem has lately kept me from trading with them on a serious basis. CS seem to have upgraded the platform during the weekend. We'll see how well they perform after this update, hopefully for the better.
Best Thread Capital Spreads
Phil Mibbutz
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gle101:
Knowing how unreliable they are, isn't it about time you gave up on CS, like everyone else?
Knowing how unreliable they are, isn't it about time you gave up on CS, like everyone else?
I think CS will come around, they are quite smart people and will not easily hand over their customer base to their competitors.
stevespray
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It looks like the CS website has had a major re-vamp over the weekend!
Steve.
Steve.
Problems with new platform
Has anyone else had problems with the CS platform causing the browser (IE) to freeze? I have had a few problems since Monday, click on the buttons at the top and nothing happens (eg. going from "Orders" to "Portfolio") and sometimes causing the browser to crash.
Has anyone else had problems with the CS platform causing the browser (IE) to freeze? I have had a few problems since Monday, click on the buttons at the top and nothing happens (eg. going from "Orders" to "Portfolio") and sometimes causing the browser to crash.
I am using Firefox, no problems.
Since yesterday much better execution. I just got one trade rejection. Hopefully it will last.
i have had it happen once with firefox i wish people could just leave things alone- i run quick positions on the ftse damm lucky it didnt cost me money
marketwizard123
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capital spreads system still a bit hit or miss, its an annoyance sometimes (tradefair is also capital spreads in disguise!) i use IG it has guaranteed stops so you can at least feel a bit safe!
Jbat001
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They kept this one quiet:-
London Capital Group acquires FuturesBetting.com for £200,000
Is this true?
London Capital Group acquires FuturesBetting.com for £200,000
Is this true?
This is a well known fact. The price tag is quite modest, they probably took over some debt as well.
Jbat001
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That's very interesting then.
Simon mentioned somewhere else on (I think) this thread that LCG had looked into the possibility of standing between the trader and the exchange and concluded that it couldn't be called spreadbetting in their legal opinion. He claimed that the opinion of futuresbetting.com's lawyers must be different to LCG's, which is fair enough.
If LCG has bought futuresbetting, somewhere along the line he must have changed his mind...
Simon mentioned somewhere else on (I think) this thread that LCG had looked into the possibility of standing between the trader and the exchange and concluded that it couldn't be called spreadbetting in their legal opinion. He claimed that the opinion of futuresbetting.com's lawyers must be different to LCG's, which is fair enough.
If LCG has bought futuresbetting, somewhere along the line he must have changed his mind...
ccclarette658
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This is stated on the start page of futuresbetting.com website.
FuturesBetting.com Ltd , incorporated in Gibraltar, is a part of the group of companies controlled by London Capital Group Holdings plc.
capitalspreads
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Futures Betting is regulated in Gibraltar by the gibraltan equivalent of the FSA. It has retained its management and trade ethos. LCG is regulated by the FSA in the UK.
I still struggle (personally) with the very thin wall between what is a bet and what is a trade/speculation but the lawyers now have no such qualms.
When you read the financial press they continually state "banks speculate on this this or bet on that" when they are talking about trading activities of major financial institutions. but if it is joe bloggs making exactly the same trade it is "punters bet on that"! To me i cannot see what the difference is between a non-professional buying a thousand shares in Rio Tinto or making a £10 "up bet". Aside from the fact that the share purchase gives you the 'voting rights' (Ha !) what is the difference? Both are speculation that the price will go higher.
What is defined as a bet or a financial transaction seems to depend on which bit of shifting sand you happen to be standing on.
by the way, on the 9th over the NFP we took over 850 online trades in the ten minutes after the data release and there were no gaps in the stream of trade transactions. it is difficult sometimes when a particular trader cannot make a trade to identify at that moment in time what the problem was/is. My Customer service and dealer teams will always try to solve any problems. If you have an immediate problem over trading then just call and ask for a price.
Simon
I still struggle (personally) with the very thin wall between what is a bet and what is a trade/speculation but the lawyers now have no such qualms.
When you read the financial press they continually state "banks speculate on this this or bet on that" when they are talking about trading activities of major financial institutions. but if it is joe bloggs making exactly the same trade it is "punters bet on that"! To me i cannot see what the difference is between a non-professional buying a thousand shares in Rio Tinto or making a £10 "up bet". Aside from the fact that the share purchase gives you the 'voting rights' (Ha !) what is the difference? Both are speculation that the price will go higher.
What is defined as a bet or a financial transaction seems to depend on which bit of shifting sand you happen to be standing on.
by the way, on the 9th over the NFP we took over 850 online trades in the ten minutes after the data release and there were no gaps in the stream of trade transactions. it is difficult sometimes when a particular trader cannot make a trade to identify at that moment in time what the problem was/is. My Customer service and dealer teams will always try to solve any problems. If you have an immediate problem over trading then just call and ask for a price.
Simon
stevespray
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Simon,
Re Futures betting and spread betting in general.
You make some interesting points with regard to what the IR might consider to be spread betting vs traditional trading.
I think that you will find perhaps that issue centres on the ownership of the assets in question. If you speculate directly on the underlying market then of course you buy and sell those assets yourself. With a spread bet it can clearly be shown that this is not the case and there lies the difference. Surely all the spread betting company has to do is A ) deem that the client isn’t dealing directly with the underlying asset, and B ) specify that the company is entering into bets with its clients rather than selling or buying assets from them (although by law a ‘spread bet’ is a legally enforceable contract and therefore could be deemed an asset in itself).
You imply in your post (and indeed have implied in other posts) that you personally feel that you must always show that trading in particular instruments must vary at least slightly from the underlying in order that the IR cannot accuse you of simply offering a ‘tax efficient alternative’ to trading the real underlying. This is of considerable interest to me for several reasons.
Firstly I had, after ten years of spread betting, taken it as ‘a given’ that spread betting was indeed such a ‘loop hole’ since the government considered that, due to its place at the ‘retail’ end of the market spread betting was more likely to entice reckless uneducated speculation which invariably resulted in large losses for the punter rather than a large gains.
Secondly, surely if the IR wanted to show what it now deems as ‘tax avoidance’ then it could simply cite any case of a trader who spread bets (to avoid being taxed on winnings) who had previously entered a tax return which showed a profit and loss sheet based on directly trading the asset via the main markets. In my opinion there must be many people known to the IR who are considerably reducing their tax liability by trading via spread betting.
Surely therefore you’ve got very little to worry about? Any change in the wind (by the IR) is likely to effect the whole spread betting industry rather than a small niche outfit like Futures Betting?
Lucky for you guys you have a large company in your industry who maintain a ‘highly funded’ and powerful lobby.
Steve.
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capitalspreads
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steve
i cannot disagree with your assesment except on the point that there are many derivatives contracts nowadays which also do not give 'ownership' to the underlying asset. The FTSE future would be the most obvious. There is no underlying asset and the futures are merely 'cash settled'.
The government would also take the view that they make a great deal more via the Gaming Tax and Corporation Tax. (The spread betting industry by the way brings in a great deal of money from overseas directly into the UK making a small but positive impact on the balance of payments).
the Spread Betting industry forms part of the FOS and I am not sure what 'lobbying' has gone on on our behalf aside from the overall compliance and regulatory regimes contacts.
Simon
i cannot disagree with your assesment except on the point that there are many derivatives contracts nowadays which also do not give 'ownership' to the underlying asset. The FTSE future would be the most obvious. There is no underlying asset and the futures are merely 'cash settled'.
The government would also take the view that they make a great deal more via the Gaming Tax and Corporation Tax. (The spread betting industry by the way brings in a great deal of money from overseas directly into the UK making a small but positive impact on the balance of payments).
the Spread Betting industry forms part of the FOS and I am not sure what 'lobbying' has gone on on our behalf aside from the overall compliance and regulatory regimes contacts.
Simon
