Best Thread Capital Spreads

[trendie]

HA-HA !!!

re: D4F rolling cash bets and spreads.

I did ask elsewhere the supposed "tight spreads" of D4F.
Capitalspreads has answered my question - you DO pay the spread AGIAN to close the position.
This kind of blows the tight-spreads sales-pitch out of the water.

I have currently no problems with D4F, but must admit am getting fidgety from what I have read about them on here.

 

[capitalspreads]

trendie

uummm .... to be fair to D4F if you are day trading the tight spread is very attractive, at 3-5 pips on cable you are getting a better price than most FTSE companies would get from their banks !! And our forward FX prices (sep and dec) are exeptionally good when compared with the forward prices imposed by our banking 'friends' upon their clients.

Mystic trader

I am not sure why our quote would have been 7 different from your live feed. ( if it happens again I would take advantage of it ! ) We use three bank feeds to average our quote and it may be that at the time in question one of the feeds was stuck at an old price thus causing the average to go out of kilter.

We dont quote as many markets as D4F but we quote nearly every one that 99% of our clients require. We will also add markets upon request if we can.

Simon

 

[minx]

We dont quote as many markets as D4F but we quote nearly every one that 99% of our clients require. We will also add markets upon request if we can.

Simon

Dont suppose you're working on pulling in the spread on your commodity quotes, just placing a trade on some of them will leave me out a lot of money relative to the bet size.....

 

[capitalspreads]

Having looked at our commodities I see that Oats and Soybean Oil are a little wide and I will be looking at those.

Most of our quotes appear to be in line (roughly) with d4f and much better than the other SBs.

 

[llew]

percentage

Can i ask what roughly is the percentage of winning traders spreadbetting the daily dow with your company?

 

[capitalspreads]

llew

Unfortunately I cannot give out this kind of data , but I can say that on our spreads we give our clients the best possible chance to profit from their skill. In the current environment with not much going on and the markets pretty much range bound our clients are doing quite well.

simon

 

[llew]

re

llew

Unfortunately I cannot give out this kind of data , but I can say that on our spreads we give our clients the best possible chance to profit from their skill. In the current environment with not much going on and the markets pretty much range bound our clients are doing quite well.

simon

Ok Simon,thanks

 

[frugi]

HA-HA !!!

re: D4F rolling cash bets and spreads.

I did ask elsewhere the supposed "tight spreads" of D4F.
Capitalspreads has answered my question - you DO pay the spread AGIAN to close the position.
This kind of blows the tight-spreads sales-pitch out of the water.

Right let's get this straight.

You buy and sell the D4F daily rolling cash Dow within one day. You pay a spread of 5 pips.
If you decided to hold this trade overnight you would pay interest on the notional long position but no extra spread. (If it was a short position they pay you interest, though not much). This is true regardless of how many nights you hold the position. When you eventually close it you will only pay the spread of 5 as before. The only extra cost is the interest.

If you do not like the idea of paying overnight interest then you could buy D4F Sep Dow for a wider spread of 8 instead. The longer you wish to have a long bet open the more sense there is in using the front month not the rolling cash, as the extra spread is compensated for by not having to pay overnight interest, though I'm not sure how this applies to shorts given the credit interest complication.

Capitalspreads has been a little misleading saying "with D4F you must trade out, i.e. pay the spread again" because the whole point of rolling cash is that you are NOT obliged to trade out at the end of every day. You can hold the position overnight and pay interest for the privilege, but never extra spread.

Hope this clears it up!

PS Despite this I think capitalspreads is about a hundred times more friendly, honest and fair to their clients than D4F who come across as obnoxious gits and I may well be defecting to them myself.

 

[darrenf]

I must admit Frugi, I was a little puzzled about this business about paying the spread twice with d4f.

You have explained it well though!

As far as I am concerned, if going long you buy at the offer and close at the bid, ie you pay spread times 1. If you have bought the rolling cash, then you pay interest / adjustment for rolling it in to the next days contract (automatically- no new spread).

If we are talking about fx, this is also what happens if you hold a position overnight with an fx broker. ie you are charged for rolling in to the next day's spot price.

 

[minx]

Having looked at our commodities I see that Oats and Soybean Oil are a little wide and I will be looking at those.

Most of our quotes appear to be in line (roughly) with d4f and much better than the other SBs.

Thanks for replying so quickly and positively. I have to say that I'm a big big fan of this type of customer service, actually makes me feel like I'm dealing with a 'listening' company.
Please keep up the good work!!

PS- Oh, and tighten the oats and soys for me

 

[minx]

Simon, I was wondering why at the end of each day is my stop loss closed out and reset to the standard SL at the start of each morning? It's not too bad when I have 3-4 positions but if I had 20+ it'd be a real pain in the butt to reset everything every morning. Cant the stop just stay where it is, afterall I did put it there for a reason :!: :?:
Surely if the reason is that its a new bet you could at least accept that if I'm willing to hold it overnight at that stop then the new bet should have the same stop that I selected.(this is regarding the rolling day bets)

 

[MysticalTrader]

Finspreads

[rant mode on]

Right, thats it. Another day of their slow and buggy web platform, plus a 40 second delay on responding to a trade that saw the price decline by 12 pips thus effectively ruining the trade.

I am fed up with this. Account closed. Finish. Voting with feet. Stick with Capital Spreads.

And now they insist on a *letter* to close the account and repay the amount into the debit card account they took the money from on a phone call. Gawd help us, I thought this was the age of electronic communication.

[rant mode off]

Anyone else had the same experience?

MT

 

[TheBramble]

I can understand your feelings when this happens just that once too often. But closing an account is always such a dramatic admin thing with most organisations that I tend not to do it. Tends to spook them.

An alternative is to withdraw all but a nominal amount and leave the account open.

Offers all sorts of additional options and benefits - and there's no downside...

Never let them see you coming...

 

[JonnyT]

Yes I have several bank accounts with £1 in them.

JonnyT

 

[MysticalTrader]

Excellent advice, yer blood's worth bottling. Job done, account cleared and thy will do it today.

cheerz guyz

MT

I can understand your feelings when this happens just that once too often. But closing an account is always such a dramatic admin thing with most organisations that I tend not to do it. Tends to spook them.


An alternative is to withdraw all but a nominal amount and leave the account open.

Offers all sorts of additional options and benefits - and there's no downside...

Never let them see you coming...

 

[llew]

re

I stopped trading with Fins in April,got annoyed with them switching to telephone only trading and there customer service can sometimes be very unfriendly.I've been with CS since then and it is a much better service and more reliable.Finding winning trades can be difficult at the best of times and requires total concentration,sometimes this concentration can be drained when we find ourselves being worked up by some of the tactics that certain spread companies use to make it difficult in executing our trades.I'm sure that it is a good tactic by some of the companies to create certain aggravation in your mindset to distort your picture of the market so you end up making mistakes,but i think this can backfire on them when they find that their level of customer drop and go trading elsewhere.But maybe i'm wrong and their is enough novice traders coming in to trading to keep them in business.
Keep up the good service CS
Llew

 

[TheBramble]

Excellent advice, yer blood's worth bottling.

Hang on Mystic - I'm not letting you anywhere near my bodily fluids.

I know what you 'esoterics anonymous' lot get up to, on the heath, come the full moon.

Especially this month being a "Blue Moon" (31st)...

 

[capitalspreads]

Right

Back from my hols and I see that nearly all questions have been answered by other contributors

The question about keeping stop levels at the same price. If you send us an e-mail requesting that you want all stops levels to be replaced at the same price when we roll the position we are happy to do this. Quite a few of our clients alread have this in place.
We need the e-mail as confirmation of your instructions.

On the line of client profitability I can definately say that today has been a blinder (clients short Cable, Long FTSE below 4300, general buying of Dow in the mid 10000's ) fortunately we hedged the lot !!

Simon

 

[MysticalTrader]

ohhh

you knew about that did you?

bummer.

MT

Hang on Mystic - I'm not letting you anywhere near my bodily fluids.

I know what you 'esoterics anonymous' lot get up to, on the heath, come the full moon.

Especially this month being a "Blue Moon" (31st)...

 

[Uncle]

Simon

Nice to know you hedged the lot!!!!! That way we can be sure you wont close positions or go telephone only.

John