Hello? 2pt YM spread spreadbetting????
Who's that with please?
Hello? 2pt YM spread spreadbetting????
Who's that with please?
Cheers Phil
I mean for YM i.e. the DOW? worldspreads appears to be 2points not two. Also, which GFT do you mean? Seems there are a few.
Please note I'm referring to spreadbetting firms in the above not CFD/Futures or other instruments - thanks.
<< WS appears to be 2points not two.>> Erm, don't know what you mean?
GFT UK.
tomtom update?
Hi there Phil,
Due to the fact that FOS did not take into account all the relevant evidence I have supplyied I have requested for this to be looked at again. Yesterday I received that FOS has made its discission and that was final. In my opinion this case out of there depth, after 15 months all I got was a basic reply ( what a joke )
Now I have spoken with a London Layewer that specializes in FSA and this type of case and he tells me that he can deal with it. I can not tell on this board all , however for none complice with commissioner office for none supply of transcripts ( and charging £105 and not the standard £10) the fine for CMC could be £50K as this was requested on more than one occasion.
For a firm dealing with information that is relied on to do business ( brokers ect ) not to have dealers telephone conversations recorded is again in breach of FSA Markets Act 2000 and has left CMC open to market abuse. The sentence for such finding is a custodial sentence if the findings show fowl play.
So he tells me CMC are already in hot water all it requires is Legal Action, this action is likely to cause CMC ( its owners and directors ) lots of inconvenience plus FSA & plus office fines.
Due to the way CMC have treated me I have decided to let this layewer do his work, it will cost £5k on account pluss £380 per hour.
The rewards to myself are £80K from when the dealer declined my intructions plus 700 days of distress compensation while this has been going on then other damages.
This will likey to cost me in the region of £15-20K but I want justice.
Will update when its apropiate.
Will they settle before court ?
If they attempt to it will be denieyed.
As for the person who delt with this case at FOS, this really does show that our system/people in UK for dealing with our complaints are a sleep at the wheel, its a joke.
if you get the ball rolling get some media coverage in on it as well in the right places... ie not chums of cmc.
TomTom
Glad to hear it. Whatever you do, make sure you have the funds to finish what you start. Proceed cautiously and make sure YOU manage your lawyer.
I don't care how good he/she is and what their reputation is - MANAGE THEM.i.e. make sure they are on top of everything and let nothing slip. Make sure they don't waste YOUR money on account. Make sure they progress your case in the most expedient way without dragging things on needlessly because it's to their £££ advantage to do so - even if they get the right end result. Please beware of this.
In virtually every litigious matter I've been involved in, this has been necessary. A good lawyer will do an excellent job but they won't do WHAT YOU'RE SUPPOSED TO DO and they cannot advise WHAT YOU'RE SUPPOSED TO TELL THEM. You have to tell them everything about the case including what you may think is unimportant - everything! Give them full arrmour to fight with.
Sorry if I sound bossy/passionate but I really want you to succeed in your efforts!:clap: The 'system' is just too biased against the 'little guys'.
Also, unless you really want to make an example of CMC, do consider an out of court settlement as it may be more generous. I guess it depends if they are repentant and apologetic or if they try to bolshy you into a token settlement.
All the best and do keep us posted.
Some SB companies don't allow you to put your stop loss that close, and only allow you to place it 6+ points away, which at 2000 per point is still a significant amount. And furthermore, even if you did that, there is no guarantee they would close that order due to the size.
Some SB companies don't allow you to put your stop loss that close, and only allow you to place it 6+ points away, which at 2000 per point is still a significant amount. And furthermore, even if you did that, there is no guarantee they would close that order due to the size.
Which SB company offer a guaranteed stop loss this close to the present level?Example:
I went long gold last week at 998, on one of my SB acccounts at £1000 per pip, with a guaranteed stop of two and a half pips, when gold surge to $1005, I wanted out and only phone dealing was offered.
I moved my guaranteed stop from 995.5 to 1004.9, I was eventually stopped out near enough where I wanted out, with my profit in tack.
"Phone only", is the oldest trick in the book for these SB companies, that is why I prefer to use SB companies with guaranteed stop losses, so they can't stiff me out of MY PROFITS.