bickerdike said:
Thanks for your reply.
You can get free realtime currency charts here:
www.dailyfx.com/tr_charts.html
Rob
scoot into the T2W Forex room & ask in there.....there are peeps trading off various platforms (brokers/ftrs/sb's), it depends on your strat/trade expectations etc....each of the methods have their pro's/cons....there are a few punting off the D4F platform on both intraday & swing using varying stake size!
waverider
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Frugi, I agree about the rollovers d4f just charge a small amount of interest on longs since they are, in effect, lending us the money to trade, and it does appear to be v small. Conversely, they PAY us a similar amount on shorts for the same reason.
Bickerdike, I'm also happy trading forex over the internet at d4f - £2 a point/3 pip spread / good fills etc and will stick with them as my stake increases unless I start to experience problems. I used to get problems day trading indices whenever I tried to trade at 'obvious' market junctures e.g. Dow breaking 10500, S&P at 1100 etc....but I got the same problems using other SBs. I suspect it's a problem you'll get anywhere whenever your particular market 'lights up' with volume at a crucial level.
WR
Bickerdike, I'm also happy trading forex over the internet at d4f - £2 a point/3 pip spread / good fills etc and will stick with them as my stake increases unless I start to experience problems. I used to get problems day trading indices whenever I tried to trade at 'obvious' market junctures e.g. Dow breaking 10500, S&P at 1100 etc....but I got the same problems using other SBs. I suspect it's a problem you'll get anywhere whenever your particular market 'lights up' with volume at a crucial level.
WR
rockwallaby
Newbie
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Aussie CFDs CMC
Hi Guys,
This is my first time on this site and just wanted to give you my thoughts on CMC for your interest.
I have found them to be excellent overall and thoroughly enjoy this style of product that they bring to the financial industry, as the alternative is to trade the underlying....remember those days? ewwww!
However, I should point out that I EXCLUSIVELY trade ASX CFDs even if it means nightshift!. I have been trading CFDs for 15 months in Australia (sole income) with them and there are a few differences between the way they operate in Australia and here in UK for trading on the ASX. (ie I have an Aussie account and a UK account).
* trading ASX share CFDs attracts 10% margin (same as in UK)
* they pay monthly interest on the minimum free equity balance at the base rate, with no qualifying minimum balance. (UK requires minimum balance of US$15000)
* the financial interest charges are +/- 2% (compared with +/- 3% here in UK).
* a $38.50 monthly exchange fee is passed onto the client if less than 5 trades in a month and comes with Market Depth (in UK exchange fee is passed on regardless, without market depth).
* commission is charged at 0.1%
The most outstanding item is the commission charge (introduced in January when they dropped trading under the Deal4Free banner) which is taken for granted. Being able to trade commission free is a god-send. I ran a detailed calculation of my trading activity if I had paid the commision - result is that I have saved bucketloads with the UK account despite the poorer interest rates.
Cant understand why people want to trade CFDs with institutions that charge commissions!
Having said all this, the down-side is that there is no way yet to SB on the ASX with CMC (either here or in Oz 🙁 ).
If there are others who do trade ASX share CFDs and would like CMC to offer ASX share SB, please tell them. The greater the demand the sooner they offer it.
Rock
Hi Guys,
This is my first time on this site and just wanted to give you my thoughts on CMC for your interest.
I have found them to be excellent overall and thoroughly enjoy this style of product that they bring to the financial industry, as the alternative is to trade the underlying....remember those days? ewwww!
However, I should point out that I EXCLUSIVELY trade ASX CFDs even if it means nightshift!. I have been trading CFDs for 15 months in Australia (sole income) with them and there are a few differences between the way they operate in Australia and here in UK for trading on the ASX. (ie I have an Aussie account and a UK account).
* trading ASX share CFDs attracts 10% margin (same as in UK)
* they pay monthly interest on the minimum free equity balance at the base rate, with no qualifying minimum balance. (UK requires minimum balance of US$15000)
* the financial interest charges are +/- 2% (compared with +/- 3% here in UK).
* a $38.50 monthly exchange fee is passed onto the client if less than 5 trades in a month and comes with Market Depth (in UK exchange fee is passed on regardless, without market depth).
* commission is charged at 0.1%
The most outstanding item is the commission charge (introduced in January when they dropped trading under the Deal4Free banner) which is taken for granted. Being able to trade commission free is a god-send. I ran a detailed calculation of my trading activity if I had paid the commision - result is that I have saved bucketloads with the UK account despite the poorer interest rates.
Cant understand why people want to trade CFDs with institutions that charge commissions!
Having said all this, the down-side is that there is no way yet to SB on the ASX with CMC (either here or in Oz 🙁 ).
If there are others who do trade ASX share CFDs and would like CMC to offer ASX share SB, please tell them. The greater the demand the sooner they offer it.
Rock
Cmc / Deal4free
This spreadbetting company has a terrible record on this site with the previous threads/posts.
At one time CMC were the main runner when it came to tight spreads and were obviously increasing the accounts daily from the more established SB's who still offered much wider spreads. Clearly there were problems maybe at CMC's own action against useful traders. Now however spreads have become tighter elsewhere and the gap has certainly closed. Other companies offer very good customer service even if the spreads do not match CMC's.
I just wonder having been a CMC customer now for 3 yrs if the experiences that were taking place are still a problem. It would seem to me that if CMC consistently performed badly, created problems for winning clients then all that would happen is they would lose customers and the word would spread and the business would suffer in the long term.
I have experienced some problems which having made a call have been resolved to my satisfaction. Before I joined CMC I was with Cityindex and yes there was no comparison between the service I received from CityIndex to the sometimes rough disinterested voice on the other end of the phone at CMC. I only stayed because I was learning and CMC had the narrower spreads. I have noticed how the help desk and back office is much more helpful and even friendly now than when I used them 2 or 3 yrs ago.
Could it be that CMC's introduction into the SB field is over and now they do require to have some consistent service for their customers. I have certainly had no problems as described on some of the threads over the last 18 months. Yes I do get re-quotes if I trade the FTSE out of hours or place a large order. So I trade within the re-quote range and have had no problems.
The point of this post is to see if others are still experiencing the old problems or whether CMC have started to offer a reasonable service. Are we still getting clients being forced away because they are consistently winning, are they still freezing screens so you cant get out of a bad position and posting terrible re-quotes even on small stakes. I only trade the FTSE cash but it does seem the gripes come from trades concerning shares, US indicies and Forex.
Kevin
This spreadbetting company has a terrible record on this site with the previous threads/posts.
At one time CMC were the main runner when it came to tight spreads and were obviously increasing the accounts daily from the more established SB's who still offered much wider spreads. Clearly there were problems maybe at CMC's own action against useful traders. Now however spreads have become tighter elsewhere and the gap has certainly closed. Other companies offer very good customer service even if the spreads do not match CMC's.
I just wonder having been a CMC customer now for 3 yrs if the experiences that were taking place are still a problem. It would seem to me that if CMC consistently performed badly, created problems for winning clients then all that would happen is they would lose customers and the word would spread and the business would suffer in the long term.
I have experienced some problems which having made a call have been resolved to my satisfaction. Before I joined CMC I was with Cityindex and yes there was no comparison between the service I received from CityIndex to the sometimes rough disinterested voice on the other end of the phone at CMC. I only stayed because I was learning and CMC had the narrower spreads. I have noticed how the help desk and back office is much more helpful and even friendly now than when I used them 2 or 3 yrs ago.
Could it be that CMC's introduction into the SB field is over and now they do require to have some consistent service for their customers. I have certainly had no problems as described on some of the threads over the last 18 months. Yes I do get re-quotes if I trade the FTSE out of hours or place a large order. So I trade within the re-quote range and have had no problems.
The point of this post is to see if others are still experiencing the old problems or whether CMC have started to offer a reasonable service. Are we still getting clients being forced away because they are consistently winning, are they still freezing screens so you cant get out of a bad position and posting terrible re-quotes even on small stakes. I only trade the FTSE cash but it does seem the gripes come from trades concerning shares, US indicies and Forex.
Kevin
starspacer
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Cmc/d4f
Kevin
I have used cmc for many trades now, over many months. I would love to move away as I find that I am virtually always requoted and it is never in my favour. Initially, for the first few months, I rarely got requoted, however, now it is pretty much all the time. The requote for me takes ages and is usually guaranteed to be worse. At the beginning, I rather naively thought cmc were okay. Now I know better.
The ONLY reason I stay with them is that they do have the tightest spreads and they offer out of hours quotes for currencies, commodities and indices. If Capital Spreads ever do this then I will immediately close my cmc account and trade exclusively with them.
My experience with Capital has always been good and they seem to be a firm with integrity. I have spoken with them on several occasions and they strike me as an honest bunch who understand that it is not in a firms interest to rip off their customers continually.
I would love to know how many times the FSA has been contacted about cmc.
It's interesting how many people have migrated from Sbetting to trading futures. As soon as the SB tax advantages disappear, I suspect that many more will follow.
Kevin
I have used cmc for many trades now, over many months. I would love to move away as I find that I am virtually always requoted and it is never in my favour. Initially, for the first few months, I rarely got requoted, however, now it is pretty much all the time. The requote for me takes ages and is usually guaranteed to be worse. At the beginning, I rather naively thought cmc were okay. Now I know better.
The ONLY reason I stay with them is that they do have the tightest spreads and they offer out of hours quotes for currencies, commodities and indices. If Capital Spreads ever do this then I will immediately close my cmc account and trade exclusively with them.
My experience with Capital has always been good and they seem to be a firm with integrity. I have spoken with them on several occasions and they strike me as an honest bunch who understand that it is not in a firms interest to rip off their customers continually.
I would love to know how many times the FSA has been contacted about cmc.
It's interesting how many people have migrated from Sbetting to trading futures. As soon as the SB tax advantages disappear, I suspect that many more will follow.
I can only speak concerning the FTSE and on the odd occasion I have found myself trading out of hours this market is slow. I do not know if it is because they assign less dealers to this instrument or not, but to be quite honest even those these instruments are traded out of hours you will find that the rules change.
It is not the same market as normal hours and so there will be a delay for your trade to go through. I now avoid it like the plague because I believe it is not a true market in the full sense lacking normal fast order fills and then sudden price moves.
The indicies you refer to are they also out of hours or US evening trades. I ask simply because again I do not like SB for the US because the spreads are so wide and I feel there is more chance of shall we say the SB price being exaggerated.
I selected the FTSE for my dealing because during open hours it tends to trade dare I say normally, there appears less problems with this instrument, it is slower than the US indicies or the Forex, it has a 2 point spread so your deal does not have to work as hard. Being slower gives you more time to react and apply alternative strategies.
I am winning and this will now test if CMC start to make things more difficult for me as has been posted previously by others who have traded well.
Are you aware that Capitalspreads are to launch rolling cash bets and as a result some instruments may have the spread reduced, in the case of the FTSE it is to be 2 points which has got my attention. This was posted by Capitalspreads/simon on his thread recently. Date of launch not yet confirmed.
One poster suggested the price quotes from Capitalspreads are delayed, have you experienced this as I thought the prices were real time like CMC. I have applied for an account due to the good publicity they have received on this site and that at 3 points this is the next best spread for the FTSE from a SB.
With regard to futures have you dabbled with these. I did trade with Interactive brokers for a while and the spreads and fills are much better, but it was the tax issue that put me off. Maybe this is a naive question but would it be easier to deal in larger numbers with a SB building up a position with 4 or 6 deals than with futures. When you come to close the SB has just got to clear the bet maybe on the spread but in the LIFFE exchange it will be necessary to match your order to the depth of the market and the prices could be quite wide when dealing with 20 - 40 contracts.
Kevin
It is not the same market as normal hours and so there will be a delay for your trade to go through. I now avoid it like the plague because I believe it is not a true market in the full sense lacking normal fast order fills and then sudden price moves.
The indicies you refer to are they also out of hours or US evening trades. I ask simply because again I do not like SB for the US because the spreads are so wide and I feel there is more chance of shall we say the SB price being exaggerated.
I selected the FTSE for my dealing because during open hours it tends to trade dare I say normally, there appears less problems with this instrument, it is slower than the US indicies or the Forex, it has a 2 point spread so your deal does not have to work as hard. Being slower gives you more time to react and apply alternative strategies.
I am winning and this will now test if CMC start to make things more difficult for me as has been posted previously by others who have traded well.
Are you aware that Capitalspreads are to launch rolling cash bets and as a result some instruments may have the spread reduced, in the case of the FTSE it is to be 2 points which has got my attention. This was posted by Capitalspreads/simon on his thread recently. Date of launch not yet confirmed.
One poster suggested the price quotes from Capitalspreads are delayed, have you experienced this as I thought the prices were real time like CMC. I have applied for an account due to the good publicity they have received on this site and that at 3 points this is the next best spread for the FTSE from a SB.
With regard to futures have you dabbled with these. I did trade with Interactive brokers for a while and the spreads and fills are much better, but it was the tax issue that put me off. Maybe this is a naive question but would it be easier to deal in larger numbers with a SB building up a position with 4 or 6 deals than with futures. When you come to close the SB has just got to clear the bet maybe on the spread but in the LIFFE exchange it will be necessary to match your order to the depth of the market and the prices could be quite wide when dealing with 20 - 40 contracts.
Kevin
starspacer
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D4f
Kevin
Agree with your points.
Yes, they will have fewer dealers out of hours as the volume of trades will be relatively low. This has not really been of concern to me as usually the trade is not moving at break-neck pace (unlike, say the Nymex Crude between 6pm & 7pm). The other day I was requoted 5 consecutive times for Nymex, after much delay. Needless to say, every one of these quotes were to my disadvantage.
It is usually FX that I trade out of both European and US times. This is the ONLY reason that I stay with D4F, although Simon (Capital Spreads) has indicated that they may offer out of hours dealing at some point. My fear is basically being in a trade (particularly FX) and something happening in Asian trading. I have noticed that between 6am and 7am UK time, there can be substantial movements in FX and I don't want to be 'holding the baby' by not being able to close out my position.
I was aware of the rolling bets due shortly with CS and will certainly use them as they will (I think) be the most competitive for the FTSE Index. Apart from this, I find them very good to deal with. Just a pity they don't do out of hours.
I'm in agreement with you regarding the futures. For me, so long as the SB tax advantages remain, SBetting gives the better 'deal'. I suppose for the 'mechanical' traders, SBetting is not an option, but that's not me.
Kevin
Agree with your points.
Yes, they will have fewer dealers out of hours as the volume of trades will be relatively low. This has not really been of concern to me as usually the trade is not moving at break-neck pace (unlike, say the Nymex Crude between 6pm & 7pm). The other day I was requoted 5 consecutive times for Nymex, after much delay. Needless to say, every one of these quotes were to my disadvantage.
It is usually FX that I trade out of both European and US times. This is the ONLY reason that I stay with D4F, although Simon (Capital Spreads) has indicated that they may offer out of hours dealing at some point. My fear is basically being in a trade (particularly FX) and something happening in Asian trading. I have noticed that between 6am and 7am UK time, there can be substantial movements in FX and I don't want to be 'holding the baby' by not being able to close out my position.
I was aware of the rolling bets due shortly with CS and will certainly use them as they will (I think) be the most competitive for the FTSE Index. Apart from this, I find them very good to deal with. Just a pity they don't do out of hours.
I'm in agreement with you regarding the futures. For me, so long as the SB tax advantages remain, SBetting gives the better 'deal'. I suppose for the 'mechanical' traders, SBetting is not an option, but that's not me.
Starspacer
I have taken the plunge and opened an account with Capitalspreads. The possibility of a reliable customer service has won me over, and the fact that they offer the next best spread on the FTSE cash to that of CMC. With the introduction of a 2 point spread rolling cash bet they will offer me an alternative. I monitored this afternoon FTSE cash with both CMC and Capitalspreads and it was evident that the CMC price changes more frequently, probably due to the smaller spread so a slightly more relaxed instrument with Capitalspreads while it has a 3 point spread. However it was interesting to note that the Capitalspreads price was mainly 3 and sometimes 4 points away form the bid price offered by CMC, never closer. You might ask if one of these companies is benefiting from the position or it just happens to be the difference between each of the positions they have taken against the true market price.
They operate slightly differently to CMC so I will have to get used to this but I have yet to see any real complaints about them. I just do not think CMC can continue to upset customers during normal hours trading otherwise the client base will slip. I have long wanted an alternative but felt in terms of spreads there was no value in it. At 3 points its not bad but if they reduce to 2 as indicated by Simon then that will be good value for SB at least. They are also eventually to have there own charts and if they remain with the present design (which currently are the delayed LSE feed for the quarter to 5.30pm) then they will offer more than the CMC charts. IMHO
My post was just to get a feel for CMC and if they have changed. No one has come forward to complain about normal hrs trading so I will have to see how I go from here on in. At least I know I cannot go over £30 without the chance of a re-quote.
Good luck
Kevin
I have taken the plunge and opened an account with Capitalspreads. The possibility of a reliable customer service has won me over, and the fact that they offer the next best spread on the FTSE cash to that of CMC. With the introduction of a 2 point spread rolling cash bet they will offer me an alternative. I monitored this afternoon FTSE cash with both CMC and Capitalspreads and it was evident that the CMC price changes more frequently, probably due to the smaller spread so a slightly more relaxed instrument with Capitalspreads while it has a 3 point spread. However it was interesting to note that the Capitalspreads price was mainly 3 and sometimes 4 points away form the bid price offered by CMC, never closer. You might ask if one of these companies is benefiting from the position or it just happens to be the difference between each of the positions they have taken against the true market price.
They operate slightly differently to CMC so I will have to get used to this but I have yet to see any real complaints about them. I just do not think CMC can continue to upset customers during normal hours trading otherwise the client base will slip. I have long wanted an alternative but felt in terms of spreads there was no value in it. At 3 points its not bad but if they reduce to 2 as indicated by Simon then that will be good value for SB at least. They are also eventually to have there own charts and if they remain with the present design (which currently are the delayed LSE feed for the quarter to 5.30pm) then they will offer more than the CMC charts. IMHO
My post was just to get a feel for CMC and if they have changed. No one has come forward to complain about normal hrs trading so I will have to see how I go from here on in. At least I know I cannot go over £30 without the chance of a re-quote.
Good luck
Kevin
starspacer
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D4F/Capital Spreads
Totally agree Kevin
Also get the impression that CS is better value for overnight rolling. D4F seem expensive, especially for FX. Hopefully, as more people migrate to CS, this will give them the opportunity to grab market share and trim overall spreads even further.
BOL
Totally agree Kevin
Also get the impression that CS is better value for overnight rolling. D4F seem expensive, especially for FX. Hopefully, as more people migrate to CS, this will give them the opportunity to grab market share and trim overall spreads even further.
BOL
Starspacer
I will have to find my way with Capitalspreads, the only thing that does give me mild concern is this matter of a deal being declined. It would seem you have to get a re-quote but apparently it does not happen very often. I am about to put this to the test but while I do believe re-quotes can be manipulated at least when the deal is going the wrong way you know with CMC that you can accept the re-quote and you will be out at this price.
I have mentioned this to Simon some time ago on the Capitalspreads thread and he did see the benefit of this service. It really depends how often you are presented with a declined order, and how badly you get filled thereafter. If we are only talking about a point difference with the FTSE then I can live with that but it would worry me if I was trading the FX or the DOW.
I also want to see how Capitalspreads are for filling larger orders, I would like to think they maybe better than CMC but you never know. The oone thing I did discover today is that the Capitalspreads site appears more demanding on the processors. I have been running 2 CMC accounts on 1 computer with no problem over a 4 hr period although today with 1 CMC and Capitalspreads account open after about 2 hrs I was using 50 - 70%. Leaving it for more than 3 hrs it would need to be re-started which is not ideal.
Kevin
I will have to find my way with Capitalspreads, the only thing that does give me mild concern is this matter of a deal being declined. It would seem you have to get a re-quote but apparently it does not happen very often. I am about to put this to the test but while I do believe re-quotes can be manipulated at least when the deal is going the wrong way you know with CMC that you can accept the re-quote and you will be out at this price.
I have mentioned this to Simon some time ago on the Capitalspreads thread and he did see the benefit of this service. It really depends how often you are presented with a declined order, and how badly you get filled thereafter. If we are only talking about a point difference with the FTSE then I can live with that but it would worry me if I was trading the FX or the DOW.
I also want to see how Capitalspreads are for filling larger orders, I would like to think they maybe better than CMC but you never know. The oone thing I did discover today is that the Capitalspreads site appears more demanding on the processors. I have been running 2 CMC accounts on 1 computer with no problem over a 4 hr period although today with 1 CMC and Capitalspreads account open after about 2 hrs I was using 50 - 70%. Leaving it for more than 3 hrs it would need to be re-started which is not ideal.
Kevin
starspacer
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Interesting points Kevin.
Hopefully, you won't get declined too often. If you do, then maybe raise it with Simon. I can't think of a time I've been declined with CS, although I've not used them as much as cmc.
Probably best to keep open the cmc account for FX trades.
I did notice that sometimes there seemed to be a delay in adjusting the quotes with CS. What I did was to keep open cmc at the same time. Strangely enough, cmc used to adjust first and then CS. I don't know whether this was just a one off, but what I did was to wait until the quote became favourable with cmc and then trade with CS shortly afterwards. Conversely, if the trade moved unfavourably, I closed out my position with CS.
Hopefully, you won't get declined too often. If you do, then maybe raise it with Simon. I can't think of a time I've been declined with CS, although I've not used them as much as cmc.
Probably best to keep open the cmc account for FX trades.
I did notice that sometimes there seemed to be a delay in adjusting the quotes with CS. What I did was to keep open cmc at the same time. Strangely enough, cmc used to adjust first and then CS. I don't know whether this was just a one off, but what I did was to wait until the quote became favourable with cmc and then trade with CS shortly afterwards. Conversely, if the trade moved unfavourably, I closed out my position with CS.
Starspacer
I wanted to make sure it was not me so today I just had 2 x CMC on for 5.5 hrs only started to show signs of flagging around the 5 hr mark. Do you experience slower performance from processor when running Capitalspreads. 1st 3 hrs today always under 20%, 20 - 30% during 3rd - 4th hr.
Kevin
I wanted to make sure it was not me so today I just had 2 x CMC on for 5.5 hrs only started to show signs of flagging around the 5 hr mark. Do you experience slower performance from processor when running Capitalspreads. 1st 3 hrs today always under 20%, 20 - 30% during 3rd - 4th hr.
Kevin
starspacer
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Processor
Kevin
Can't say that I experience any noticable slowing. I tried running 8 programs just now, including D4F and Capital Spreads. Processor is <10%. Maybe try doing a disk defrag.
Not really a computer expert, but is it possible you might have spyware/virus slowing down your system?
Try posting on the computer tech section if you experience any more problems.
Regards
Just had a thought, I know that D4F had severe problems with their server last night (I rung them), so maybe it's down to this?
Kevin
Can't say that I experience any noticable slowing. I tried running 8 programs just now, including D4F and Capital Spreads. Processor is <10%. Maybe try doing a disk defrag.
Not really a computer expert, but is it possible you might have spyware/virus slowing down your system?
Try posting on the computer tech section if you experience any more problems.
Regards
Just had a thought, I know that D4F had severe problems with their server last night (I rung them), so maybe it's down to this?
capitalspreads
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kevin
sorry i dont normally comment on chat site other than the capitalspreads one but felt I had to..here... our dealers (not surprisingly) log on to our web site at 6.45 in the morning and log off at 21.15 without any problem on the computer usage level. stays at around 10% all day.
had a liquid lunch with a client so ...wont comment further today
hugs and kisses all round
simon
sorry i dont normally comment on chat site other than the capitalspreads one but felt I had to..here... our dealers (not surprisingly) log on to our web site at 6.45 in the morning and log off at 21.15 without any problem on the computer usage level. stays at around 10% all day.
had a liquid lunch with a client so ...wont comment further today
hugs and kisses all round
simon
Starspacer
Well there were no problems logged into CMC today and have taken your advice re defrag, needed doing had forgotten to reset schedule so it had not been done for a while when I changed some software.
Simon
Hope you enjoyed the lunch, you do get around,LOL. Went into site this evening no problems.
Kevin
Well there were no problems logged into CMC today and have taken your advice re defrag, needed doing had forgotten to reset schedule so it had not been done for a while when I changed some software.
Simon
Hope you enjoyed the lunch, you do get around,LOL. Went into site this evening no problems.
Kevin
gcb01 said:
GCB01,
Sound familar. Welcome to the club. D4Free has many tricks up it''s sleeve. This being one of them. Although I still have an 'account' with them my trades are these days being placed with Capital Spreads. Pleasant expereince.
May be as they are relatively new, may change once firmly established.
