The real test would be: How are they in fast markets? Requote or fill?
In testing the demo I got quite many trade rejections. I decided to switch from wireless connection to cable, and suddenly it was much better. I guess City servers are located in GB, it is definitely an advantage on 1 point spread fast moving index, if your are located in GB.
tar
Legendary member
- Messages
- 10,443
- Likes
- 1,314
Anybody knows how many clients Cityindex have and the yearly turnaround of the company?
From what I have read and understood, they now have an exellent internal risk management system in place.
http://www.financial-spread-betting.com/Cityindex.html
Jack Hughes
Established member
- Messages
- 623
- Likes
- 25
What would interest me is how many active clients each SB has. There must be a lots of punters who are seduced by the 'no tax' angle, sign up, lose a few hundred quid, then give up and/or go elsewhere to try a different platform.
To be honest I always find cmc really good in fast markets so would probably use them at these times.
However I think they (cmc) have taken their eye of the ball a little recenly with their charts being not as good as they were,no iphone platform and less competitive spreads imo.
The market is not as volatile today compared to 2008. There is no reason to pay too much due to volatility.
I am talking about active clients, hard to define, but I guess a person who trades within reasonable period of time.
lancenicolase
Active member
- Messages
- 219
- Likes
- 4
I actually meant that CityIndex have to catch up as their spreads are considerably wider that IG and CS, but you're right it's tough to compete against 1 point spread on Dow Jones.
At last CI have woken up and are ready to market their spread betting platform and 1 point DJ is a move in the right direction.
When they finally upgrate their platform they will right back in the game... only time will tell if they implement the necessary changes.
Off hours Cityindex do not offer a good deal, but when it comes to open hours Cityindex has about the same spread, at least on the indices I am trading. FTSE, DAX, S&P and the Dow (best spread in the industry).
Jack Hughes
Established member
- Messages
- 623
- Likes
- 25
Finspreads platform doing its old trick of seizing up just after the US open. A 1pt spread isn't much use if you can't trade it!
What do you mean by sizing it up? Are they increasing the minimum bet size?
Jack Hughes
Established member
- Messages
- 623
- Likes
- 25
No, 'seizing up', as in crashed, kaput, etc.
Ok, I see. Yes this is one of the tricks they have in their arsenal. With 1 point spread during news releases, one cannot expect top of the line service. I guess one should also be careful not to trade on the news, with this kind of narrow spread, you could end up getting stuck with the wrong price, if there is some freezing of the order. I have not traded live with Cityindex, so I can't really tell how well they execute during news releases.
Jack Hughes
Established member
- Messages
- 623
- Likes
- 25
It wasn't a news release, just a market that moved quickly after the Dow open. The platform froze, which is what always used to happen when I used them years ago. Definitely wise to have another SB running at the same time so you can hedge, but that makes nonsense of the 1pt spread.
Could have been a technical problem. Yes, it is very wise to always have an extra SB up and running.