Best Thread Capital Spreads

[Orestone100]

I am thinking about opening an account with you to day trade Indices, Do you allow short term trading e.g.
holding positions for only a few minutes or so or does your software identify me as a scalper & put me on dealer intervention?

 

[capitalspreads]

orestone

there has been an enormous amount of comment on what we call 'scalping' ...

our definition of a scalper has always been a client who trades price latency (of which there used to be quite a bit in the past).. systems are much faster these days and so it is more difficult to try to take advantage of this phenomena.

i must emphasise that this is just our definition

But in general the kind of clients we don't like are the ones who trade in and out on a very short time scale (i.e a few seconds) hundreds of times a day.

As we are the market maker (and so the risk is always with us) it is tough when we end up with a client who never holds for long enough for us to hedge at a reasonable level.. which is why our institutional FX liquidity providers hate the Algo trading machines and instruct us (LCG) to not give their prices/liquidity to such clients on our ECN platform.

It really is a matter of scale.. if the majority of your trades are held for several minutes/hours with only a small number being a few seconds then you are unlikely to register with our checking systems.

simon

 

[PipStar]

I am thinking about opening an account with you to day trade Indices, Do you allow short term trading e.g.
holding positions for only a few minutes or so or does your software identify me as a scalper & put me on dealer intervention?

They allow it if you end up in net loss but not if you make a profit.

 

[Vasco da Banana]

vasco

days like that are rare and it is often a matter of pure luck if you happen to be the right way round.

For those of you old enough to remember the oct 1987 crash... that is still the best day that I ever experienced as a trader. I was running the Bond desk for a Belgian Bank in those days and we made over £5m in one day .. the US Long bond had a trading range of 12 big figures (if i remember correctly) .. but i could just as easily have been the other way around.

Simon

1987 was a bit before my (trading) time, but no doubt it was just as scary and potentially ruinous. On the SB platform I was using in 2009, prices on the US30 were lagging by about 200pt and it was difficult to know what was happening with orders. Far too much excitement!

 

[ErnestC]

Problem Solved

 

[top trader]

Any plan of introducing more than 1 favourite folders ?
If not, why?
I did ask this before.
Thanks.

 

[capitalspreads]

top trader

we are looking into this but the solution is not expected soon. The reason we never did this in the past was that it was not a major issue with clients (with all due respect to you personally) and there were/are always more pressing things to work on.

Simon

 

[gle101]

1987 was a bit before my (trading) time, but no doubt it was just as scary and potentially ruinous. On the SB platform I was using in 2009, prices on the US30 were lagging by about 200pt and it was difficult to know what was happening with orders. Far too much excitement!

Yes really, overall SB and CFDs performance and service have improved greatly over the past couple of years. Not many issues really to be concerned about, for most part the trader is to blame if something goes terribly wrong.

 

[PipStar]

Not many issues really to be concerned about, for most part the trader is to blame if something goes terribly wrong.

No offence intended, from your vantage point this may well be what you think. But the reality is somewhat different because the number of complaints made to the FOS regarding all spreadbetting outfits has skyrocketed in recent years.
London Capital Group which includes Capital Spreads is no exception in this regard. Recently it has been reported that LCG has settled some of the complaints against them which means they paid the client out after a long delay dealing with the FOS, but many other complaints remain outstanding. In any case, I can't see how you can sustain your statement that 'the trader is to blame if something goes terribly wrong' when you don't have any knowledge of their particular situation. That's something that you may need a rethink about.

 

[twinj]

Can you fix the Bund chart. The candles are not progressing but the price on the right is moving.

 

[twinj]

Thanks for fixing the Bund chart. Any chance of the data from 7am to 8am to appear on the chart?

 

[gle101]

No offence intended, from your vantage point this may well be what you think. But the reality is somewhat different because the number of complaints made to the FOS regarding all spreadbetting outfits has skyrocketed in recent years.
London Capital Group which includes Capital Spreads is no exception in this regard. Recently it has been reported that LCG has settled some of the complaints against them which means they paid the client out after a long delay dealing with the FOS, but many other complaints remain outstanding. In any case, I can't see how you can sustain your statement that 'the trader is to blame if something goes terribly wrong' when you don't have any knowledge of their particular situation. That's something that you may need a rethink about.

No problem. Yes I understand there is some complains being filed with the FOS. But you have to take in consideration the number of spread betters and orders going through the systems on a daily basis. Also to my defense I said "for the most part", as I realize there is always complains in any market you trade.

 

[Vasco da Banana]

I have the impression that the FOS is a bit snowed under with work generally. I submitted a complaint (not about Capital Spreads) nearly a month ago and still haven't even had an acknowledgement. SBs can be forgiven for the occasional upset in exceptional market conditions, but not when they mess up and adopt the 'We are Right even though we're wrong' attitude, hoping that a client will just give up and let them get away with it.

 

[PipStar]

I have the impression that the FOS is a bit snowed under with work generally. I submitted a complaint (not about Capital Spreads) nearly a month ago and still haven't even had an acknowledgement. SBs can be forgiven for the occasional upset in exceptional market conditions, but not when they mess up and adopt the 'We are Right even though we're wrong' attitude, hoping that a client will just give up and let them get away with it.

You should follow it up with the FOS because they normally send an email acknowledgement. Also I can tell you it will take something like over a year to get any sort of settlement. And if the company you have complained against disputes your case, it could take like close to 2 years. Some spreadbettting outfits now seem to let the disputes go to the FOS even when they are wrong so that they dont have to pay up for 1-2 years. Or they may hope that the client eventually gives up.

 

[gle101]

You should follow it up with the FOS because they normally send an email acknowledgement. Also I can tell you it will take something like over a year to get any sort of settlement. And if the company you have complained against disputes your case, it could take like close to 2 years. Some spreadbettting outfits now seem to let the disputes go to the FOS even when they are wrong so that they dont have to pay up for 1-2 years. Or they may hope that the client eventually gives up.

Yes I can Imagen that some clients will give up along the way as it is a tedious wait and I guess a lot of forms to be filled in, and maybe even some legal help in the end. It would have to be a lot of money at stake if I would have been interested in filing for a complaint, especially being a foreigner. This attitude might be wrong as more traders that files for a complaint, demanding that the problem is asking for attention. I have not come across any big issues in this regard over the 7 years that I have been Spread Betting.

 

[twinj]

Problem with Bund again. There is still several hours to go before closing but the chart is already impinging on the 17th.

 

[Vasco da Banana]

You should follow it up with the FOS because they normally send an email acknowledgement. Also I can tell you it will take something like over a year to get any sort of settlement. And if the company you have complained against disputes your case, it could take like close to 2 years. Some spreadbettting outfits now seem to let the disputes go to the FOS even when they are wrong so that they dont have to pay up for 1-2 years. Or they may hope that the client eventually gives up.

My understanding is that any complaint referred to the FOS costs the SB, win or lose, so they will want to avoid that if possible.

 

[hacks]

My understanding is that any complaint referred to the FOS costs the SB, win or lose, so they will want to avoid that if possible.

Correct - I think it costs 500 pounds.

 

[PipStar]

My understanding is that any complaint referred to the FOS costs the SB, win or lose, so they will want to avoid that if possible.

Correct - I think it costs 500 pounds.

You are both right, except it doesn't work that way in the wild west. The FOS is inundated with complaints regarding SB companies and many of these complaints end up being settled by the SB company having to pay the client. On top of that the SB company needs to pay the FOS also. Why they let it get to this point is just crazy when it ends up that they can't prove their position and the client wins.

 

[twinj]

Clearly the Bund chart has not been fixed properly. Please take a closer look and fix it properly. It is the same problem. The candlesticks do not progress but the price on the right changes. Also be aware that a similar problem arose in the afternoon.