I have been using them for years and never a problem. The withdrawal of funds issue just looks like a polite letter asking for feedback. It usually does take them a day or two to process withdrawals, it always has in my experience. I could make one or two suggestions to improve their service but basically, I've found it very, very good.
Best Thread Capital Spreads
Sorry to say I found CS to be quite useless to trade in a volatile market. There are way too many trade rejections. I trade mostly the DAX and the Dow and it simply will not work getting these trade rejections over and over again, it is just a waste of time. For many years, and I am in a position to know, there were no problem with rejections, this has recently changed, at least as far as I am concerned. I am prepared to reconsider my current standpoint anytime, because I used to be a big fan of CS, but first they have to give me proof of a basic dependable service.
The reason for the two day time to be refunded is nothing to do with Capital Spreads. If Capital Spreads refund you today it will take two days to hit your account unless you pay for a same day transfer (£15/£20).
It works the other way too. If you credit your account today you will get the money in your account immediately but Capital Spreads will not get the funds for two days(maybe more).
It is one of the hidden card/bank costs. They keep all the money for two days (free cash for the banks). Imagine how much this must add up to for every single card transaction in the UK/World. Probably trillions of dollars of cash on deposit. With interest rates at 0.5% it is not that great these days but when it was at 4-5% (and higher) it would have been a significant sum on the bottom line.
And they charge every company a pretty tidy transaction cost as well for allowing access to "merchant services" systems !
It works the other way too. If you credit your account today you will get the money in your account immediately but Capital Spreads will not get the funds for two days(maybe more).
It is one of the hidden card/bank costs. They keep all the money for two days (free cash for the banks). Imagine how much this must add up to for every single card transaction in the UK/World. Probably trillions of dollars of cash on deposit. With interest rates at 0.5% it is not that great these days but when it was at 4-5% (and higher) it would have been a significant sum on the bottom line.
And they charge every company a pretty tidy transaction cost as well for allowing access to "merchant services" systems !
Vasco da Banana
Established member
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This was pointed out by Simon, but I doubt the SB really takes much of a risk by crediting your account immediately. They're not likely to have many punters who make huge profits in two days, then try to withdraw it.
top trader
Well-known member
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What do you think of new Capitalspread's platform ?
Surprised to see no reaction, so far.
Surprised to see no reaction, so far.
Outa my gourd
Member
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Still getting used to it on the simulator, wouldn't want to knee-jerk. Seems to be an improvement though.
Prefer the old one. Doesn't really feel like the new one is finished yet?
Dear Capital Spreads,
Your new trading platform isn’t particularly good. The old platform had the odd glitch but did the job, yet the occasional issues you did have with the old one still remain on this new worse one.
The platform looks and feels cheap/tacky.
If your mouse moves even just slightly whilst clicking the buy/sell tab on the tickets the trade doesn’t register.
The P/L shown in the open trade section has absolutely no bearing on what your P/L really is because each time I close a trade the actual P/L is a few points adrift to what the open trades screen had on display.
The ticket price continues to move momentarily after you’ve pressed Buy/Sell – in one particular trade my P/L was 8 points adrift to the P/L displayed in the open trades section. This is unacceptable.
The ticket skips ticks that both your charts and the underlying market reflect.
There doesn’t appear to be a way to get rid of the fixed chart taking up ¼ of my trading screen.
If you adjust the screen widths/heights, then log out, the settings have gone back to default when you log back in.
All in all it’s a really poor quality trading experience and both myself and my network of traders agree the old platform was simpler, cleaner, and did the job it was supposed to do.
It appears that you’ve attempted to copy features from other SB/CFD providers, but this is a bad move as its not only made your platform look worse against theirs, it’s also made your platform lose its uniqueness that many found attractive.
To make all this worse I was contacted by yourselves some Months ago and asked to Beta test the new platform to which I agreed. After that I never heard back from you. This is a shame as all these issues could have been resolved before going live with it.
May I therefore ask that you bring the old platform back…. By all means, add new features to it, but please don’t ruin the trading experience that your customers have been accustomed to.
Unfortunately if this platform is here to stay, myself and my network of traders may need to close our accounts and move elsewhere as the above issues are directly affecting P/L.
Kind regards,
=============================================================================================================
Dear Sir,
Thank you for your email.
We regret to hear that you have had such a bad impression of our platform. However, please know that we are taking all feedback in with open ears and are in the process of adding your ideas and fixes to the platform.
Regarding your issue with the charts, you should be able to hide this to the right by clicking on the little right-pointing arrow on the side of the platform. We are working on adjusting the cookies function on the website so that your predetermined view will be saved.
Unfortunately we will not be able to bring back the old platform now but please rest assured that we are doing all we can to make the adjustments that you mention in your email as it is our aim to provide the service that you expect from us.
If you have any queries please do not hesitate to contact us.
Kind Regards
Ines Sordo de la Pena
Customer Support
Customer Support: +44 (0)20 7456 7020
Trading Line: +44 (0)20 7456 7010
Fax: +44 (0)20 7456 7013
Your new trading platform isn’t particularly good. The old platform had the odd glitch but did the job, yet the occasional issues you did have with the old one still remain on this new worse one.
The platform looks and feels cheap/tacky.
If your mouse moves even just slightly whilst clicking the buy/sell tab on the tickets the trade doesn’t register.
The P/L shown in the open trade section has absolutely no bearing on what your P/L really is because each time I close a trade the actual P/L is a few points adrift to what the open trades screen had on display.
The ticket price continues to move momentarily after you’ve pressed Buy/Sell – in one particular trade my P/L was 8 points adrift to the P/L displayed in the open trades section. This is unacceptable.
The ticket skips ticks that both your charts and the underlying market reflect.
There doesn’t appear to be a way to get rid of the fixed chart taking up ¼ of my trading screen.
If you adjust the screen widths/heights, then log out, the settings have gone back to default when you log back in.
All in all it’s a really poor quality trading experience and both myself and my network of traders agree the old platform was simpler, cleaner, and did the job it was supposed to do.
It appears that you’ve attempted to copy features from other SB/CFD providers, but this is a bad move as its not only made your platform look worse against theirs, it’s also made your platform lose its uniqueness that many found attractive.
To make all this worse I was contacted by yourselves some Months ago and asked to Beta test the new platform to which I agreed. After that I never heard back from you. This is a shame as all these issues could have been resolved before going live with it.
May I therefore ask that you bring the old platform back…. By all means, add new features to it, but please don’t ruin the trading experience that your customers have been accustomed to.
Unfortunately if this platform is here to stay, myself and my network of traders may need to close our accounts and move elsewhere as the above issues are directly affecting P/L.
Kind regards,
=============================================================================================================
Dear Sir,
Thank you for your email.
We regret to hear that you have had such a bad impression of our platform. However, please know that we are taking all feedback in with open ears and are in the process of adding your ideas and fixes to the platform.
Regarding your issue with the charts, you should be able to hide this to the right by clicking on the little right-pointing arrow on the side of the platform. We are working on adjusting the cookies function on the website so that your predetermined view will be saved.
Unfortunately we will not be able to bring back the old platform now but please rest assured that we are doing all we can to make the adjustments that you mention in your email as it is our aim to provide the service that you expect from us.
If you have any queries please do not hesitate to contact us.
Kind Regards
Ines Sordo de la Pena
Customer Support
Customer Support: +44 (0)20 7456 7020
Trading Line: +44 (0)20 7456 7010
Fax: +44 (0)20 7456 7013
New platform is really pants
The pc version is bad enough but the mobile is virtually unusable. to get to a trade you must make Six/seven different actions .. any of which might lose connection.
Just to get to prices takes four actions (it used to open straight up on the popular markets page)
Cannot even see stop loss orders unless you go into an individual trade and then slowly go through to the stop .
Cannot see past trades (unbelievable)
Takes a minimum of 20 seconds to log in
The pc version looks a bit odd almost as though it doesn't quite fit.
It is almost as though the people designing it do not actually trade themselves.
The pc version is bad enough but the mobile is virtually unusable. to get to a trade you must make Six/seven different actions .. any of which might lose connection.
Just to get to prices takes four actions (it used to open straight up on the popular markets page)
Cannot even see stop loss orders unless you go into an individual trade and then slowly go through to the stop .
Cannot see past trades (unbelievable)
Takes a minimum of 20 seconds to log in
The pc version looks a bit odd almost as though it doesn't quite fit.
It is almost as though the people designing it do not actually trade themselves.
What's 'tfs' ?
top trader
Well-known member
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- 439
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- 6
Sack the person/s who approved the platform.
Ouch! Harsh!
I think they did, the lost 2 Chief Executive Officers, 1 Chief Financial Officer and a Chief Operating Officer all in 2013.
http://www.gamingintelligence.com/people/21945-london-capital-group-begins-search-for-new-cfo
mikeball87
Junior member
- Messages
- 34
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- 1
I use cmc, they are the best for longer term trading. & of you trade futures you can buy just 1 contract or less. So ideal for building a commodity a portfolio & you only put down 0.25%
