Best Thread Capital Spreads

[Uncle]

Kevin..............the hold is but seconds, but feels like minutescos it doesnt click right away as some other Spreadbet sites. As i say, it is no big deal as far as I personally am concerned but could well be to others, so thought it worth mentioning.

As for the mechanics....................SIMON WHERE ART THOU??????

 

[stevespray]

I think from a technical point of view very few of the spreadbetting companies actually offer genuine ‘market orders’. I relate the term ‘market orders’ against traditional direct access brokerage where a market order literately bites a chunk out of a limit order sat on the other side of the market. On many exchanges ‘market orders’ get priority. Market orders submitted to spreadbet companies are quite often ‘fill or kill limit orders’ which they can simply take or leave depending on where the market is when they get around to dealing with them. As I said before, Finspreads are the best I’ve found for consistently honouring quoted prices and there is rarely a price rejection once you press that buy / sell button.

Steve.

 

[kevin546]

John

Thank you

Kevin

 

[Uncle]

Steve...................Always assuming Finspread havent gone "Phone Trading Only" which unfortunately I found was all too often for my taste!!!!

John

 

[stevespray]

Uncle - Yes, good point, however atleast you know that if they are phone only your not left in limbo wondering if a trade is going to be accepted.

Steve

 

[capitalspreads]

Sorry I have not responded in a timely manner.

There are several queries here but all generally concerned with levels and action of fills. On thursday and friday last week we had a few problems with loss of conection to clients when they tried to make trades this problem was sorted out over the w/e and only affected a very tiny proportion of trades.

It is difficult with deal declines to talk without all the facts available but if I remember correctly we did decline a few trades in FX over the Non Farm Payroll numbers as the prices were jumping 50 points in a second which cannot be replicated over a firm dealing platform as we must take our feeds from somewhere in order to get them out to our clients.
We do try to look sympathetically on all problems over our platforms (within reason) but will always reserve the right to decline a trade that is just nowhere near the market level when we receive the trade instruction. IF a client wishes to trade over major numbers he/she must be aware that they may fail to get their deals away.

Kevin's point about filling orders at the next best price is all very well but how do we know that that is what the client wants? Some will no doubt agree but just as many would say that if they could not get their original price then they dont want the trade at all. On our platform to make a re-trade only takes a couple of seconds (fill stake box then hit trade).

We may be tardy on activating Stops (or Limits) but that is merely because we are busy. Even if the stop order was 30 points away by the time we come to fill it we will still fill at the level requested (so long as there was no gapping involved in the actual trigger of the stop).

If there are any problems or worries I would always advise clients just to pick up the phone and call us, we honestlly dont bite! ( 020 7600 0110 ) As most of our trading is internet based it is quite nice to get the odd phone call.

I also note that Finspreads seem to be permanently on 'Phone Trading' for the daily FX. All very well, but.......

I thought this site was beginning to slow up but its nice to see so many postings over the w/e.

Simon

 

[grubs50]

Simon, unfortunately there was a similar problem with your site again this afternoon while i was trying to close a position..........

 

[capitalspreads]

grubs

all I had to do was open my mouth!! Again we are working on this we have put a few upgrades (ha) over the w/e to increase our client capacity. Obviously my IT guys have done it again.

They claim to have sorted it out.... but I may have to wander thru the dept with a few P45's hanging out of my pocket... pour encourager les autres.

Simon

 

[kevin546]

Simon

Many thanks for your reply, I think you maybe missing the point re my suggestion concerning order execution. When you decline an order especially in a fast moving market or when your office is busy then offering clients a re-quote due to price move or your delay to the order then at least a re-quote offers a client the chance to get out of a position, particularly if it is a loser. A client can chose to resush such a quote if he/she does not like the price and this would probably come from someone who is trying to get into the market rather than out. The obvious difference is that someone trying to get out is either attempting to lock in profit or close a losing deal. Someone attempting to get into the market has lost nothing but the opportunity and they can always accept a re-quote or place a new order.

It is one thing to suggest the new order process only takes seconds but to do this you are starting all over again and in a fast moving market you are going to lose more. At least

 

[kevin546]

(Dont know what happened there) to continue At least if you are offering re-quotes your client is in contact with your system and although the price has moved it can now be acted on. If someone was declined an order which appears from this bb affecting a few of your clients then what is the chance of this next order being declined. Does this happen on your system. I cannot see why an offer of something is not at least given by yourselves as I would have thought clients would like an opportunity to get out quickly when they can. Without going through repeat order process.

 

[capitalspreads]

kevin

sorry yes I missed the point. I will put it up to our developers to see whether they can add this to the growing list.

 

[kevin546]

Simon

Thank you for your time and effort, its what comes with success and an increasing client base the demands and requests increase. As a matter of interest as a result of greater demand for your services have you started to reach a point where your existing computer systems and or staffing levels are still able to provide a good response to the increasing orders you are having to deal with. Could this be a reason for part of the problems you have been suffering recently.

Kevin

 

[kevin546]

Simon

As for passing this request onto your developers I suppose it depends how important this feature would be for your existing customers and potential new ones. The kind of dealer that would want the comfort of knowing that when he/she decides to close a deal that they will at the very least get a quote that should be honoured if the 1st is declined will be active traders or day traders. Unless you have plenty of traders that fall into this category or you see a benefit of expanding into this area of trading then I doubt the expense of such software will be in your best interests.

I can only say that it gives me a great deal of confidence in my trading knowing that I have this feature to fall back on. As far as I am aware only CMC offer this service out of all the spreadbetting companies. I wonder if it could be a good selling package to offer to your clients or potential clients that by offering this service your company would be only 1 of 2 companies to do so and it would be a service that supports the customers interests when dealing with fast markets. Would this encourage more traders to join you, I don't think it would put any off.

On a different note do you permit clients to open additional accounts in order to trade different strategies, this is particularly useful when attempting to trade the same instrument but from different methods or time frames particularly intraday. I do not mean trying to place a buy and a sell on the same instrument at the same time. If you do provide additional accounts are they accessed separately or run within the existing account as a sub account. I would prefer individual accounts so that I could test systems using different order tickets as some systems indicate an entry or exit signal at the same. To work from a single order ticket could hinder performance if forced to work from a 'shared or sub account'.

Finally it speaks volumes for your integrity that you are prepared to come onto this site and answer questions and openly within the limits that you are allowed to.

Kevin

 

[a0-0b]

kevin

sorry yes I missed the point. I will put it up to our developers to see whether they can add this to the growing list.

Any chance of making all or some of tht list public? You may not want to reveal everything you are doing but at least listing some of the next things to be worked might stop some of he grumbling (or is that just me being simple again)

 

[capitalspreads]

a0-ob

I think I did give a list of upgrades in the pipe a few messages ago but the basic line (on the client interface) at the moment is

ability for clients to preselect stops and limits
live charts
automatic daily rollovers as per D4F, for those clients who wish for it.

Kevin

yes you may have extra accounts to counter trade positions.. But I think you will find that our various markets in the same product have the same intrinsic spread. Unlike our competitors .... Our sept FTSE is the same spread as our June etc. So in most instances you can counter trade by using different settlement dates in the same product.
And also our system problems are as you suspect being caused by far higher traffic than we bargained for at this point for which I can only thank our clients. Our capacity is being multiplied in the next few days which should solve a few problems.

Simon

 

[kevin546]

Simon

For testing strategies over days using Jun / Sept would be fine but for intraday testing 2 order tickets are helpful in order to place respective orders at the same time. Are your additional accounts set up so that you can have both open at the same time and independent of each other.

With the example you give of using near and far months when does the far month first become tradeable online.

With reference to increased demand it is for this reason that I have not signed up with your company as yet. New players always seem to go through this cycle and it can affect your performance as you make further progress both in client numbers and advancements of your service. It is after these stages of progression IMHO that things settle down and the service becomes reliable. I will be interested in any new developments to your trading platform and expect to sign up with you in the near future. Although it is only fair to say I am also reviewing CityIndex as they are also new in terms of online services.

Best of luck and thanks again for your reply.

Kevin

 

[Orion]

CapitalSpreads


...and on your "to do" list, please don't forget "if done" orders.

 

[capitalspreads]

orion

that is included in the preselect stops and limits

Kevin

your first question ...the answer is yes and yes

the far month is available when the current quarter expires so in a few days we will be quoting Dec FTSE,Wall Street, DAX, S&P etc.


Simon

 

[ivorm]

Hi CapitalSpreads.

Any idea when daily rollover cash bets on FTSE stocks will be available ?

Regards,

 

[capitalspreads]

ivorm

we already offer them . You just have to ask us and we will apply it to your account. We quote the FTSE 100 (and any others from the FTSE 250 by request) shares as Daily products and if you want them to continue past 4.30 just ring us. Or give us a general instruction to roll all your daily bets.

we apply an interest cost of 0.02% p/day on UK shares for rolls.

Simon