tar
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No , i am sure Simon can comment on this .
Best Thread Capital Spreads
No , i am sure Simon can comment on this .
minitrader101
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I saw a post above that withdrawl of funds is not automated. can I ask how long they take please if deposited with a debit card ? I'm thinking of opening an account.
Thanks
Thanks
About 2 working days.
minitrader101
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Thanks,
I opened an account late this evening did a small trade Short £8 a point on the dow cash and the charges for it rolling over were:
Debit for dividend £40.54 and debit for rolling £6.32, that seems pretty steep (circa 5-6 point charge), a £10 roll in the same instrument with another provider I have been using costs £9.78 for £10 a point bet in the same index (less than 1 point charge).
Is this normal ?
I opened an account late this evening did a small trade Short £8 a point on the dow cash and the charges for it rolling over were:
Debit for dividend £40.54 and debit for rolling £6.32, that seems pretty steep (circa 5-6 point charge), a £10 roll in the same instrument with another provider I have been using costs £9.78 for £10 a point bet in the same index (less than 1 point charge).
Is this normal ?
Last edited:
The dividend calculation is correct.
Microsoft and DuPont with both go ex-dividend tomorrow, with $0.23 and $0.43 dividend per share respectively. Total $0.66. I found this out from dividend dot com (/dividend-stocks/dow-30-dividend-stocks.php)
The Dow Divisor (DJIA divisor - Wikipedia, the free encyclopedia) is currently 0.130216081.
So 0.66 / 0.130216081 = 5.068
5.068 x £8/point = £40.54
Microsoft and DuPont with both go ex-dividend tomorrow, with $0.23 and $0.43 dividend per share respectively. Total $0.66. I found this out from dividend dot com (/dividend-stocks/dow-30-dividend-stocks.php)
The Dow Divisor (DJIA divisor - Wikipedia, the free encyclopedia) is currently 0.130216081.
So 0.66 / 0.130216081 = 5.068
5.068 x £8/point = £40.54
minitrader101
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ta, serves me right for carrying a cash position over, dont normally.
minitrader101
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Actually... thinking about it, If a dividend is being paid then the value of the Dow would fall by the amount of points you have said. so, why if I'm short the Dow cash have I been charges 5.xx points ? I would understand if I was long the cash. in this instance I's expect a credit (yeah right no chance) or nothing, but not a debit.
I must be missing something, other firms dropped their prices by 5-6 points to account for it, so my shorts benefited but not so in this instance an I was wondering why capital was 5-6 above everyone else's.
puzzled.com
capitalspreads
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minitrader
if you had been long the dow you would have received a credit of 80% of the short debit amount. So if you had been charged £20 on a short position a client with an equal and opposite position to you would have received £16
the reason for the 20% charge is to try to limit dividend tax arbitrage.
Simon
if you had been long the dow you would have received a credit of 80% of the short debit amount. So if you had been charged £20 on a short position a client with an equal and opposite position to you would have received £16
the reason for the 20% charge is to try to limit dividend tax arbitrage.
Simon
capitalspreads
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minitrader (again)
on card deposits. if you deposit then your account is credited immediately, (even though we do not actually get the money for two days as the banks hold on to it for two days) if you ask for a refund we process it the same day but by the same process as when you deposit the money with us ... the bank takes the money from the segregated account immediately but does not give it to you for a couple of days (sometimes more)
on the dividend charges... these only take place over divvy days ... for the Dow these can be on any day where a share goes ex div... for the FTSE it is usually always on a tuesday night. for the dax the div is not within the index calculation and so there are never dividend price adjustments
etc etc .. each index has its own rules
Simon
on card deposits. if you deposit then your account is credited immediately, (even though we do not actually get the money for two days as the banks hold on to it for two days) if you ask for a refund we process it the same day but by the same process as when you deposit the money with us ... the bank takes the money from the segregated account immediately but does not give it to you for a couple of days (sometimes more)
on the dividend charges... these only take place over divvy days ... for the Dow these can be on any day where a share goes ex div... for the FTSE it is usually always on a tuesday night. for the dax the div is not within the index calculation and so there are never dividend price adjustments
etc etc .. each index has its own rules
Simon
minitrader101
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Thanks Simon, much appreciated. I'm a relatively active intraday trader, perhaps I'm whats called a scalper, is it correct that this isn't the sort of business that you like ? I don't want to end up on dealer referral, so would be good to know from the off.
Thanks
Thanks
capitalspreads
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mini
it really depends
we do not particularly like scalpers who try to trade price latency. as we feel (and i know some readers here disagree with me) that this type of activity is akin to betting on a race after the finish. To be honest even Mifid is trying to rule that Algo systems must hold onto positions for longer than 0.5secs and these are the ultra high frequency traders who are able to get in and out of a position within a tiny fraction of a second.
scalpers who are in and out in a reasonable time frame we generally have no problems with.
many profitable clients trade very frequently but just do not hit our radar
Simon
it really depends
we do not particularly like scalpers who try to trade price latency. as we feel (and i know some readers here disagree with me) that this type of activity is akin to betting on a race after the finish. To be honest even Mifid is trying to rule that Algo systems must hold onto positions for longer than 0.5secs and these are the ultra high frequency traders who are able to get in and out of a position within a tiny fraction of a second.
scalpers who are in and out in a reasonable time frame we generally have no problems with.
many profitable clients trade very frequently but just do not hit our radar
Simon
minitrader101
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Thanks very much (again),
I don't trade latency as such, I'd rather there was
no latency. I'll give it a whirl one day next week and see how I find it.
I don't trade latency as such, I'd rather there was
no latency. I'll give it a whirl one day next week and see how I find it.
capitalspreads
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there is always some latency somewhere when a system is taking prices from a third party provider putting it through a pricing engine and then bunging it out on the web.
web connectivity is also not always great ... even in central london! and so we sometimes find that clients trading on what they believe are perfectly reasonable prices get rejected by the computer (not by a dealer) simply because of the time lag. We have booster servers across the globe but dealers out of the far east sometimes get this issue, even in marginally quick markets.
and sometimes we get clever buggers who try to bounce our price around an array of satellites to delay the dealable quote price (generally in eastern europe)
simon
web connectivity is also not always great ... even in central london! and so we sometimes find that clients trading on what they believe are perfectly reasonable prices get rejected by the computer (not by a dealer) simply because of the time lag. We have booster servers across the globe but dealers out of the far east sometimes get this issue, even in marginally quick markets.
and sometimes we get clever buggers who try to bounce our price around an array of satellites to delay the dealable quote price (generally in eastern europe)
simon
davidlondon
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simon,
a couple pages back I have asked for your help with charting on an htc desire. Since your change I cant change the chart away from 1 hour or have access to a scrollbar.
Can anyone at CS help as helpdesk dont underdstand. Surely someone in your company had a HTC with the app on to test and see the problem or tell me how to do it?
Can you help / reply
a couple pages back I have asked for your help with charting on an htc desire. Since your change I cant change the chart away from 1 hour or have access to a scrollbar.
Can anyone at CS help as helpdesk dont underdstand. Surely someone in your company had a HTC with the app on to test and see the problem or tell me how to do it?
Can you help / reply
capitalspreads
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david
sry i was thinking that i had forgotten to ansewr a question
like you i have a an andriod phone which has suddenly turned to just a snap shot 1hr chart .. which is not much use. this was due to adobe unitaleraly stopping their support for flash
the brand new chart package for mobile is due for rolling upgrades to be launched by the end of Nov
this should be available on blackberry and android.
Simon
sry i was thinking that i had forgotten to ansewr a question
like you i have a an andriod phone which has suddenly turned to just a snap shot 1hr chart .. which is not much use. this was due to adobe unitaleraly stopping their support for flash
the brand new chart package for mobile is due for rolling upgrades to be launched by the end of Nov
this should be available on blackberry and android.
Simon
Hi Simon
what do you consider a reasonable time frame for a scalper to hold a trade ?
I would say it depends on the volatility of the market.
If you trade price action there is always a risk of latency. Nothing we as traders should or can do anything about. It is up to the SB to provide an accurate price feed.
capitalspreads
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georgedon
to be honest i do not have a clue
it is more that if a client only ever trades ultra short term then the economics are just not there.
and in the future they will be even worse.... Mifid is in the process of requiring a centralised trade and position reporting scheme and the mooted cost is expected to be around 10p a trade ... i.e. a transaction tax by the back door. i.e for a £1 round trip on a a 1 point spread we would have to pay 20p .... for the pleasure of having the regulator know that Mr A Smith had made a £1 buy bet in the FTSE.
as you can imagine this would make most SB and cfd providers uneconomic (certainly for high frequency clients).
how we would be supposed to compete with non Mifid providers i am not sure... but this is naturally not a problem for the regulators.
Simon
to be honest i do not have a clue
it is more that if a client only ever trades ultra short term then the economics are just not there.
and in the future they will be even worse.... Mifid is in the process of requiring a centralised trade and position reporting scheme and the mooted cost is expected to be around 10p a trade ... i.e. a transaction tax by the back door. i.e for a £1 round trip on a a 1 point spread we would have to pay 20p .... for the pleasure of having the regulator know that Mr A Smith had made a £1 buy bet in the FTSE.
as you can imagine this would make most SB and cfd providers uneconomic (certainly for high frequency clients).
how we would be supposed to compete with non Mifid providers i am not sure... but this is naturally not a problem for the regulators.
Simon
Simon,
There is a problem with the charts. Not as big as the mobile issue mentioned above but I would like it fixed. I think you gave me an email contact for the company you use for your charts. He sounded like the ceo but he is not responding to my emails.
There is a problem with the charts. Not as big as the mobile issue mentioned above but I would like it fixed. I think you gave me an email contact for the company you use for your charts. He sounded like the ceo but he is not responding to my emails.
