Best Thread Capital Spreads
tar
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i dont know maybe . If u have the time and the money go for it ...
fast trader7
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Hello,
I am not surprised at all. I made more than 200% in a very short span of time and i did many many trades a day. I am fed up with these guys. But i guess all SB companies are like that. i made money with CMC and they donot even accept my orders anymore!
What i have realized is - If you make money by keeping your trades for a longer period time ( many hours) and making few trades a week, they will execute instantly.
Le me put it this way.. You make £2000 a month by doing 10 trades a day...... Mr Simon makes £2000 a month by doing 10 trades a month. He is welcomed and you are not.
That's the difference.
Happy trading.
I am not surprised at all. I made more than 200% in a very short span of time and i did many many trades a day. I am fed up with these guys. But i guess all SB companies are like that. i made money with CMC and they donot even accept my orders anymore!
What i have realized is - If you make money by keeping your trades for a longer period time ( many hours) and making few trades a week, they will execute instantly.
Le me put it this way.. You make £2000 a month by doing 10 trades a day...... Mr Simon makes £2000 a month by doing 10 trades a month. He is welcomed and you are not.
That's the difference.
Happy trading.
Phil Mibbutz
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Some SB think they are entitled to flag their clients and we all know some still do. This industry must understand that this is not a good way to build a lasting and good relation with its clients. They will pay for it with bad goodwill, also it is not a very smart way to build up trust between the SB and the client. Flagging a client as I understand it, is not illegal (not yet anyway). But I am quite sure the industry is in for tougher regulations as the mainstream is getting more involved. You have the EU MiFID Financial "Best execution" directive, which most SB have signed up to follow. Flagging an individual client to restrict the client from winning, is not a very good sign that they have understood what MiFID is all about. Frankly, it would be more fair and straightforward to simply close down the account, as then, at least they would not indulge in manipulation. Simon has in fact very clearly stated on this thread, that they flag some clients, they do this by putting them on referral to a dealer. The only time I could understand this kind of practice, is, when there is a stake size issue, or a temporary technical problem involved. If the SB has a long lasting lagging price feed problem, they should be not be in this business at all. Post proof of what has happened, as I am quite sure Simon will comment on the issue. I have some hope that when CS has converted to the new platform, the service will be getting much better. If not, clients will simply be leaving the company for somebody else, there are quite many good SB to choose from today.
Are you by any chance a short term trader?
A Casino can not offer differing odds to different gamblers. It can refuse to do business but it cant cheat. Read the bottom para on this page Spread betting terms and conditions
I think they need to be exposed and punished. Sorry can't post the proof here as I'm seriously thinking of taking legal action. I was quite shocked how blatantly they offered requotes after requotes on one account while accepting identical bets on another account. Had the same experience with CMC last year but I didnt dig deep.
Yes I'm a short term trader.
I think they need to be exposed and punished. Sorry can't post the proof here as I'm seriously thinking of taking legal action. I was quite shocked how blatantly they offered requotes after requotes on one account while accepting identical bets on another account. Had the same experience with CMC last year but I didnt dig deep.
Yes I'm a short term trader.
FasterTrader
Ditto with CMC - they are just scum. If you consistently win, they frustrate you until you leave or die.
That was a funny thing. The bottom part you referred to was actually written by me. Glad to see they have had good use of that post.
That was a funny thing. The bottom part you referred to was actually written by me. Glad to see they have had good use of that post.
What a small world !
Yes, it sure is.What a small world !
The same thing has happened to me and to a friend of mine who also trade at Capital Spreads. I did not do the study you state above but we both experienced what you mention regarding delays in execution and plenty of rejected trades. That happened after about 3-4 months of regular profits and doubling of accounts. You are then put on refer to dealer. This manipulation is rife among all spread betting companies not just Capital Spreads. And you know what, they do it because they can get away with it.
You have moved your account to another SB company. That's exactly what they want you to do. It's called weeding out the winners so they can give excellent service to the losers
I can't see you can win such a case, it will only cost you a lot of money. Many on the forum is talking about SB manipulating clients, but they never post any proof. Posting the proof is probably the best thing you can do in order to bring the issue up for discussion.
Phil Mibbutz
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Refusing to take bets when a client is being troublesome (i.e. winning consistently) is OK, but rather than just telling punters that directly, the SB companies employ tactics that can't be considered fair. The idea seems to be to recoup some of the money made by the client before he/she realises what's going on and closes the account. As pointed out here previously,this explains why Simon can tell us that only a small proportion of clients are on 'dealer intervention'.
B
Black Swan
IMHO the only way this would have legs is to replicate the experiment in full view of whatever authorities supposedly govern SB. On the face of it, and I have no reason to doubt the poster, it's dynamite...
capitalspreads
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I must have commented on this about 50 times on this thread
hardly dynamite we make no bones about putting clients on dealer acceptance, it is clearly stated on our web site that we may do this.
i am again at a loss to understand the problem here. Making this number of trades will flag you up to our dealers. If you win tiny amounts on each trade (and hardly ever lose) we just take the view that you are scalping. To be rejected that number of times means that you a probably attempting to trade on sudden shifts. Why should we continue to fill a client when we can never win (or have a chance to hedge). I am very sorry but our terms and our order execution policy is quite clear. We can reject any trade we want...period....
clients who try to take CS for a ride (by using latency issues to aid their trading) never seem to think that they are being duplicitous...oh no! it is the spread betting company that is to blame. Think of it in terms of a horse race ...I believe that not many bookies would take your bet after the race had been run.
Sorry but why should we continue to just pay away money? Is there a law somewhere that says that we must take a client ? We have any number of winning clients who trade in quite large size and hold their positions for a considerable time. These clients never get put on dealer acceptance because they are not just trying to 'have us over'.
as others mention... all sb companies do this....if it was not permitted i think you would have heard about it by now.
Sorry for the abruptness of this post but really i get tired of scalpers claiming to be 'good traders'
Simon
hardly dynamite we make no bones about putting clients on dealer acceptance, it is clearly stated on our web site that we may do this.
i am again at a loss to understand the problem here. Making this number of trades will flag you up to our dealers. If you win tiny amounts on each trade (and hardly ever lose) we just take the view that you are scalping. To be rejected that number of times means that you a probably attempting to trade on sudden shifts. Why should we continue to fill a client when we can never win (or have a chance to hedge). I am very sorry but our terms and our order execution policy is quite clear. We can reject any trade we want...period....
clients who try to take CS for a ride (by using latency issues to aid their trading) never seem to think that they are being duplicitous...oh no! it is the spread betting company that is to blame. Think of it in terms of a horse race ...I believe that not many bookies would take your bet after the race had been run.
Sorry but why should we continue to just pay away money? Is there a law somewhere that says that we must take a client ? We have any number of winning clients who trade in quite large size and hold their positions for a considerable time. These clients never get put on dealer acceptance because they are not just trying to 'have us over'.
as others mention... all sb companies do this....if it was not permitted i think you would have heard about it by now.
Sorry for the abruptness of this post but really i get tired of scalpers claiming to be 'good traders'
Simon
Phil Mibbutz
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Wouldn't it be fairer to inform clients when they're going to be nobbled?
B
Black Swan
OK Simon, so if you are a full time S.Better, and you execute 40 bets a day, across 4 currency pairs and 2-3 indices over two daily 4 hour sessions, operating off a 15 min TF and your typical (average) time in in a trade is 30 minutes are you by your definiton a scalper?
Phil Mibbutz
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From the SB Dictionary (Concise Edition):
scalper, n. Client who places more than five trades a day over any period exceeding a week while also increasing account balance.
capitalspreads
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black swan
40 bets a day ... day after day... will flag you up to the dealers... sorry but that is the fact of the matter... they will generally analyse the time in position but may not make an average.... if enough of the trades are suspicious then...... sorry
as mentioned by many commentators here ... they move to another SB and the same thing happens ..over and over.... if you read the other threads it is a common issue. To continue the analogy with regular gaming .. a continued winner on the gee gees is just barred.. we just make it difficult to scalp a moving price.
and before anyone asks... we do occasionally put clients back onto auto accept ...after the client makes impasioned pleas... only for the client to pull the same tricks again...
systems get faster and faster but there will always be that tiny delay which leaves us open to abuse. Please do not be so quick to accuse the market maker...we always do our best to quote in good faith....perhaps look at yourself first.
I have to assume that all the people who continually use the Mifid 'best execution' argument have never actually read the full Mifid document on the matter. Best execution does not mean that we must accept trades no matter what..
Simon
40 bets a day ... day after day... will flag you up to the dealers... sorry but that is the fact of the matter... they will generally analyse the time in position but may not make an average.... if enough of the trades are suspicious then...... sorry
as mentioned by many commentators here ... they move to another SB and the same thing happens ..over and over.... if you read the other threads it is a common issue. To continue the analogy with regular gaming .. a continued winner on the gee gees is just barred.. we just make it difficult to scalp a moving price.
and before anyone asks... we do occasionally put clients back onto auto accept ...after the client makes impasioned pleas... only for the client to pull the same tricks again...
systems get faster and faster but there will always be that tiny delay which leaves us open to abuse. Please do not be so quick to accuse the market maker...we always do our best to quote in good faith....perhaps look at yourself first.
I have to assume that all the people who continually use the Mifid 'best execution' argument have never actually read the full Mifid document on the matter. Best execution does not mean that we must accept trades no matter what..
Simon
Simon, sorry, this time I cannot agree with your post. With this post you give evidence of not having respect for your clients. At least those clients, who are not in line with your self made standards. If this attitude is adapted by the the industry as a whole, you are all surely heading for stricter regulations, period. I am getting quite tired of hearing you whining all the time and hiding behind the latency and hedging issue. You can get away with this kind of attitude at this time, but I can assure you it won't be for long. Capitalspreads are not applying the MiFID "Best execution" directive, this is very clear, the very same directive, which you have so courageously agreed to follow. You clearly interpret the "Best execution" directive to suit your own means, including the full rights to manipulate individual client accounts. Manipulating is a very strong word, but this is exactly what you are doing, Simon. You describe scalpers as not being traders. In reality, you have lost track and are not in touch with the trading community, from which you are making a very good living.
Excuse me for the harsh language, but you had it coming.
