Best Thread Capital Spreads
tar
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With all due respect i call his way childish and unprofessional , this is not the way a CEO talks to his clients , in the other hand his comment shows you how much he is upset and worried from what you called "increased competition" .
tar
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It is good from him to share in these forums but not like this , after 2 months from silence he come and say : hey no stamp duty for SB on shares this is a good advantage guys , y u all silent maybe there nothing to complain about ! ( shock horror ) ! our numbers through the roof ! .
Give me a break , this is not what we expect as a clients from a CEO , sorry again no offense intended .
top trader
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it is, mainly, due to most have lost money.
"No, I think Simon got a point here. The complaints is less on all the SB compared to a years back. I believe this is due to the increased competition. The MiFID financial directives might also have something to do with the SB companies behaving better as well."
"No, I think Simon got a point here. The complaints is less on all the SB compared to a years back. I believe this is due to the increased competition. The MiFID financial directives might also have something to do with the SB companies behaving better as well."
tar
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I dont know about "keeping them happy" but there is some improvements , i dont know about CS i stopped using them , but the major difference will be the instant execution and the "no dealing desk" ...
montmorencyt2w
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May be Simon could consider this major improvement for Capital Spreads:
Take his winning traders off manual execution
:clap:
He has said quite explicitly (I think) in that interview on that web site whose link I keep posting (so I won't do it here), that that does not happen.
Of course, if he wishes to come back here and clarify, so much the better.
p.s. The firm I'm currently trading with have told me quite explicitly that they are not interfering with my trades. Their exact words were: "You are far better at ****ing up your trades than we could ever be".
capitalspreads
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we do not put 'winning' traders to manual .... fact
we put traders onto manual who we identify as either 'scalping' through latency issues or as working in tandem with other clients.
we have always stated that 20/21pc of traders are profitable. Less than 1pc of clients are on manual trades authorisation.
Simon
we put traders onto manual who we identify as either 'scalping' through latency issues or as working in tandem with other clients.
we have always stated that 20/21pc of traders are profitable. Less than 1pc of clients are on manual trades authorisation.
Simon
B
Black Swan
No matter how many times you state it *they* just won't believe you...However, you did state in this thread a while back that if an individual account holder was taking perhaps 30 trades a day through you they wouldn't be welcomed...
Glad to see you've gone public on the fact that 20% of traders are successful...
B
Black Swan
He has said quite explicitly (I think) in that interview on that web site whose link I keep posting (so I won't do it here), that that does not happen.
Of course, if he wishes to come back here and clarify, so much the better.
p.s. The firm I'm currently trading with have told me quite explicitly that they are not interfering with my trades. Their exact words were: "You are far better at ****ing up your trades than we could ever be".
No..really? That's fookin brilliant...
Sorry Simon, you are not allowed to set the rules in this issue. MiFID clearly states that "discrimination" of clients is not allowed. You can not hide behind a gambling facade. Anyway the numbers being put on manual seem to have gone down (or you have lost clients). Again competition is creeping in forcing the SB to give better service and such complying to regulation at hand. The day SB financial spread betting is being classed as financial instruments, there is certainly no way back (sorry to say it will by then become taxable).
capitalspreads
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gle
i am afraid that you are not correct in Mifid rules on accepting trades. As we are the market maker we can make these distinctions. In fact the exchanges themselves make various rules on who gets filled first ...etc.. (and therefore who get filled at all). On an exchange a seller (buyer) can only be filled if there is a buyer (seller) on the other side. Just because you see the price does not mean that you will get the deal. In fact, on our platforms, clients get the trade far more frequently than on DMA as the price cannot move away from you after you have clicked the 'trade' button. My dealers are far more frustrated than our clients on this issue as when they go to 'the market' to hedge they quite frequently miss the trade due to another party getting the price.
On this basis it could be argued that SB/CFD platforms are actually rather fairer to retail clients than those attempting to trade DMA as on DMA the only time you get filled is either when there is enough on the other side to take your trade and/or the market is not moving away from you when you try to trade. It is often said about DMA that the only time you can get a trade on in the futures/currency markets is when you are wrong !!
Black Swan
we have always stated the client profit percentage (it actually forms part of our beginner seminars). Oddly enough the percentage of winners spread betting on Capital Spreads is slightly higher than the percentage who win using DMA on futures exchanges (an old CME/CBOT statistic showed just under 18pc for private client profitability).
Simon
We do
i am afraid that you are not correct in Mifid rules on accepting trades. As we are the market maker we can make these distinctions. In fact the exchanges themselves make various rules on who gets filled first ...etc.. (and therefore who get filled at all). On an exchange a seller (buyer) can only be filled if there is a buyer (seller) on the other side. Just because you see the price does not mean that you will get the deal. In fact, on our platforms, clients get the trade far more frequently than on DMA as the price cannot move away from you after you have clicked the 'trade' button. My dealers are far more frustrated than our clients on this issue as when they go to 'the market' to hedge they quite frequently miss the trade due to another party getting the price.
On this basis it could be argued that SB/CFD platforms are actually rather fairer to retail clients than those attempting to trade DMA as on DMA the only time you get filled is either when there is enough on the other side to take your trade and/or the market is not moving away from you when you try to trade. It is often said about DMA that the only time you can get a trade on in the futures/currency markets is when you are wrong !!
Black Swan
we have always stated the client profit percentage (it actually forms part of our beginner seminars). Oddly enough the percentage of winners spread betting on Capital Spreads is slightly higher than the percentage who win using DMA on futures exchanges (an old CME/CBOT statistic showed just under 18pc for private client profitability).
Simon
We do
Simon, I did have a look a year back at the definition MiFID put on market makers. From what I remembered they were regarded as a market in its on right, and such have to apply to the MiFID directives. You have also signed up to follow the MiFID. You are saying that market makers is being excluded from this execution and client directive, please point out the MiFID paragraph that support your standpoint. We are talking about flagging certain clients (restricting them to trade on equal terms) and not a rejection of a trade now and then. The real market does not discriminate certain clients, the real market act on a known set of criteria. In fact, this is the only part that I find to be a real problem with certain SB. Otherwise, I must say that the SB industry have improved a lot over the years I have been trading SB, and I find it exciting to follow and see where it is heading.
110% of statistics are either inaccurate or misleading. Obviously clients will immediately become ex-clients if they're put on manual, so the 1% figure quoted is pretty meaningless. It would be interesting to know what percentage of CS's total client base has ever been put on dealer referral.
Xenophobia
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What level is acceptable in your firms eyes for scalping £5, £10, £20 under £50 a pip ?
And really why do you guys hate scalpers so much I don't understand. If I saclp the market at £50 a pip and do lets say 300 pips that week = £15,000 then where is the difference from someone who placed the same bet size on a longer term trade and does 300+ pips over the course of a week. (I dont scalp or do £50 a pip) The only differance I see is the scalper takes more trades to accumulate his pips = you make more on the spreads. Rather than the longer term trader taking the same pips for a one time spread.
All of this manual dealer stuff is BS. Thats like playing blackjack in a casino and winning money then the dealer says dude I'am now going to look at your cards before I deal them and if I dont like them then I will swap them around.
I just want to trade on fair ground with no BS manual dealers. I use your firm to trade you get paid my spread. So why fk about with your client even with it only being 1%.
capitalspreads
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xeno
you are misunderstanding (willfully i do not know) the point.
your example of the dealer looking at the card first is actually what we are talking about. SB companies have a tiny latency on price (even the biggest) as we must take prices from somewhere put them into our price engines and then bung them out on the web.... ok its getting less and less but it is still there..
the point about latency scalpers is that they ONLY ever trade when they know that the price has already moved in their favor .. ie. they are the ones looking at the cards first !!
a client who places a £50 bet and sits on it for a week making 15k is fine... becus CS can hedge the position or we will have other positions the other way round etc.
a client who buys/sell 20 times a day on a tiny price delay making a pip every single time cannot be 'hedged' and so is a straight loss to a spread betting company. no tears from clients of course but not something that is reasonable in any shape or form for the market maker.
everyone mentions tiny amounts but these numbers can add up to huge totals if we allowed every 'latency' trader free access. I make no apologies for this policy and these types of clients are free to take their business method to a competitor or to a real FX/Futures platform to see how good they really are when they are up against exchange DMA prices (pretty useless is my experience of these people in the main)
Simon
you are misunderstanding (willfully i do not know) the point.
your example of the dealer looking at the card first is actually what we are talking about. SB companies have a tiny latency on price (even the biggest) as we must take prices from somewhere put them into our price engines and then bung them out on the web.... ok its getting less and less but it is still there..
the point about latency scalpers is that they ONLY ever trade when they know that the price has already moved in their favor .. ie. they are the ones looking at the cards first !!
a client who places a £50 bet and sits on it for a week making 15k is fine... becus CS can hedge the position or we will have other positions the other way round etc.
a client who buys/sell 20 times a day on a tiny price delay making a pip every single time cannot be 'hedged' and so is a straight loss to a spread betting company. no tears from clients of course but not something that is reasonable in any shape or form for the market maker.
everyone mentions tiny amounts but these numbers can add up to huge totals if we allowed every 'latency' trader free access. I make no apologies for this policy and these types of clients are free to take their business method to a competitor or to a real FX/Futures platform to see how good they really are when they are up against exchange DMA prices (pretty useless is my experience of these people in the main)
Simon
capitalspreads
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ross spur
sorry you are quite correct .... total non-auto accounts 'ever' is 0.776pc
simon
sorry you are quite correct .... total non-auto accounts 'ever' is 0.776pc
simon
Xenophobia
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Okay but at waht stake size would this become a problem for you. What if someone was scalping everyday with nothing to do with "latency" and trading say £10-£20 a pip and doing 10 15 or so trades a day averaging 10-20 pips a trade, would you still see this as a problem.
I guess what Iam trying to say is, at what point do you guys start to feel the clients balls ?
What is acceptable? £20 - £50 a pip 10-15 trades per day 10-20 pip per trade, trade lasting 10 minutes to 60 minutes, would this be a problem or classed as scalping in your eyes.
ps. I just want to understand how you guys view trading patterns.
