FuturesBetting.com Re-Launching

[futuresbetting]

The idea of direct market access sounds good but the only way to buy say the FTSE index if the price is rising is by taking the ask price and then futuresbetting charges an additional spread as commision. Spreadbetting companies such as Tradefair and ODL have a 1 point spread which is what the market usually has anyway so they are commision free, so please would someone explain why futuresbetting is better when it costs more.
Are you able to open an account with futuresbetting and be trading in a matter of minutes like the other SB's?

With Futuresbetting you get actual market prices and instant fills no re-quotes, do other spreadbetters give this.?
The actual market price that Fbc give on their platform is half a tic wide, then the spread or commision is charged.They dont take positions against the client they want them to make money.
When they receive the application forms,they are checked by compliance, then you can deposit funds online, maybe takes an hour max.

 

[futuresbetting]

The min deposit was £5000
Margins were in line with everyone else

The actual deposit for opening an account is £2500, but the balance does'nt have to stay at this level.
The margins charged by Fbc are half of what the exchanges charge for intra day trading.

 

[Vaco]

You get double intra day margins, for example if you deposit £2500, your intra day trading power will be £5000

Could you explain this in a little more detail compareable to other SBs.

My margin requirement on the dow is currently 1% so for 5 CFDs that would be approx £300 (depending on current price). How would this compare to trading 1 mini dow contract with yourselves?

 

[A Dashing Blade]

The idea of direct market access sounds good but the only way to buy say the FTSE index if the price is rising is by taking the ask price and then futuresbetting charges an additional spread as commision. Spreadbetting companies such as Tradefair and ODL have a 1 point spread which is what the market usually has anyway so they are commision free, so please would someone explain why futuresbetting is better when it costs more.

Bangs head against wall!

You are dealing at the actual underlying futures price that's actually on the actual exchange (LIFFE, EUREX etc) NOT the price made by the spreadbet company.

If you want to try to buy at the bid then you can, if you want to try and sell at the ask you can. You have the same functionality and visibility (Level 2) as a local trading at a prop-shop. I have personally benchmarked the speed of their platform against price feeds from ESignal, Reuters and Bloomberg (I use the latter two professionally at work), their platform speed is excellent.

You may, or may not consider that a good thing, up to you.

Edited to add ODL do exactly the same thing for futures but charge you (say) £2.50 per trade (not round-trip) comission, FB simply "add" the £2.50 to the price you buy/sell at and by doing so are allowed to call themselves a spread-bet company rather than a futures brokers.

 

[wilko]

Dashing Blade, I understand perfectly well that futuresbetting prices are the exchange prices. For the SB companies I use, their FTSE index is obviously linked to the ftse future and stays relative to it all day otherwise i would be constantly arbitraging and so they move intraday the same amount as the ftse future. As I tried to explain above that the average spread for the FTSE future is 1 point which is what ODL show so there is no commision charged. Simple as that!!
As I am sure you are aware, at times of market volatility the LIFFE FTSE future spread is often wider than 1 point whereas my SB companies stay at 1 point .

 

[futuresbetting]

Could you explain this in a little more detail compareable to other SBs.

My margin requirement on the dow is currently 1% so for 5 CFDs that would be approx £300 (depending on current price). How would this compare to trading 1 mini dow contract with yourselves?

First of all we only offer futures products at the moment but looking at offering different products shortly.
regarding the margins on the mini dow future, the exchange charge $1950 per 1 futures contract.Intra day we charge $975.
if you opened an account with £2500. on the first day of trading your account Fbc would let you take a position of 5 lots (contracts) long or short position.Th mini dow future is $5 per tic (point) movement per 1 lot.

 

[A Dashing Blade]

. . . I understand perfectly well that futuresbetting prices are the exchange prices.

my emphasis

For the SB companies I use, their FTSE index is obviously linked to the ftse future . . .

my emphasis . . . you appreciate why that should be so yes?

. . . As I tried to explain above that the average spread for the FTSE future is 1 point which is what ODL show so there is no commision charged. Simple as that!!
As I am sure you are aware, at times of market volatility the LIFFE FTSE future spread is often wider than 1 point whereas my SB companies stay at 1 point .

Min quote size in FTSE100 Index Futures is 0.5, that's what I often see in the futures, personally I rarely see FTSE futures spread exceed 1 point for anything more than 1 second during "normal" hours and conditions.

Having just tested ODL's gui for futures trading (in FB's enforced absence) I can assure you that that they use the same model ie provide customer with a front-end to the actual market. I have no idea about their SB platform.

You seem to imply that you prefer to trade on prices created soley by a spreadbet company to actual prices traded on a regulated exchange (apologies if I have this wrong)

I find that conclusion rediculous.

 

[chilltrader]

First of all we only offer futures products at the moment but looking at offering different products shortly.
regarding the margins on the mini dow future, the exchange charge $1950 per 1 futures contract.Intra day we charge $975.
if you opened an account with £2500. on the first day of trading your account Fbc would let you take a position of 5 lots (contracts) long or short position.Th mini dow future is $5 per tic (point) movement per 1 lot.

Have a trading "operational" query:

Currently the spreadbet platform I use, I can open a "rolling position" on the Wall or for that matter any instrument, which DOES NOT get closed (i.e NO P/L is REALISED) at the end of day. The position stays OPEN as long as I want it to. Now, this is different to some other spreadbet companies who automatically close the position every night and realise P/L (and reopen the rolling position for next day).

Of course I either pay OR get paid nightly "margin interest".

Is there an equivalent of this on Futurebetting - say for DOW? If yes, what is it called [I'll note it so as not to get confused ]?
Any nuances i.e how different will it be to the SB's "rolling DOW" if at all?

 

[A Dashing Blade]

Have a trading "operational" query:

Currently the spreadbet platform I use, I can open a "rolling position" on the Wall or for that matter any instrument, which DOES NOT get closed (i.e NO P/L is REALISED) at the end of day. The position stays OPEN as long as I want it to. Now, this is different to some other spreadbet companies who automatically close the position every night and realise P/L (and reopen the rolling position for next day).

They're called FuturesBetting, you (effectively) trade exchange traded futures through them.

Of course you can run a position overnight as long as you have sufficiant margin in tour account.

 

[barry dennis]

Do FuturesBetting pay interest on deposited margin funds, if so at what rate please?
You say it is DMA, is the DMA effectively simulated relative to the number of lots in the actual LIFFE depth of market as spread bet orders are presumably not actually entered into LIFFE's order book either by the trader or on their behalf? I mean if there are 8 lots on the bid and I place a buy limit order at that level for 1 lot I will get filled if the 8 lots are taken and at least the first lot at the next tick lower goes, is that how it works? Many thanks in advance.
Will a demo account be available?
Can other software such as for automated trading be linked to the FB trading window?

 

[futuresbetting]

Do FuturesBetting pay interest on deposited margin funds, if so at what rate please?
You say it is DMA, is the DMA effectively simulated relative to the number of lots in the actual LIFFE depth of market as spread bet orders are presumably not actually entered into LIFFE's order book either by the trader or on their behalf? I mean if there are 8 lots on the bid and I place a buy limit order at that level for 1 lot I will get filled if the 8 lots are taken and at least the first lot at the next tick lower goes, is that how it works? Many thanks in advance.
Will a demo account be available?
Can other software such as for automated trading be linked to the FB trading window?

There is not interest given on your deposited funds by Fbc.
When you place and order it goes direct to the exchange and is placed in the que. (Liffe works on a queing system,1st come 1st served.)..basically if there are 8 lots working at a price, then you place your order at the same level, you will see that the size of lottage increase.
Yes we will offer demo accounts again, for a certain period of time.

 

[futuresbetting]

Have a trading "operational" query:

Currently the spreadbet platform I use, I can open a "rolling position" on the Wall or for that matter any instrument, which DOES NOT get closed (i.e NO P/L is REALISED) at the end of day. The position stays OPEN as long as I want it to. Now, this is different to some other spreadbet companies who automatically close the position every night and realise P/L (and reopen the rolling position for next day).

Of course I either pay OR get paid nightly "margin interest".

Is there an equivalent of this on Futurebetting - say for DOW? If yes, what is it called [I'll note it so as not to get confused ]?
Any nuances i.e how different will it be to the SB's "rolling DOW" if at all?

For the mini dow future, you can roll positions o/n with no charge as long as you have the sufficient funds in the account to cover the margin requirements.
i.e..as long as their is $1900 in your account you will be allowed to roll over a nightly position of 1 mini dow futures contract.
the p/l is calculated during the day and at a settlement price which is given by the exchange.

 

[marlintrdg]

First of all we only offer futures products at the moment but looking at offering different products shortly.
regarding the margins on the mini dow future, the exchange charge $1950 per 1 futures contract.Intra day we charge $975.
if you opened an account with £2500. on the first day of trading your account Fbc would let you take a position of 5 lots (contracts) long or short position.Th mini dow future is $5 per tic (point) movement per 1 lot.

Will you be doing any accounts in dollars?

I'm presently paying $500.00 MM per emini contract @ $4.50 R/T commissions At TransAct.

 

[futuresbetting]

Will you be doing any accounts in dollars?

I'm presently paying $500.00 MM per emini contract @ $4.50 R/T commissions At TransAct.

You deposit usd if you wish,it's just that Fbc are a sterling based company, if you deposit GBP and you bet on USD products it's creates a USD account aswell.

 

[marlintrdg]

You deposit usd if you wish,it's just that Fbc are a sterling based company, if you deposit GBP and you bet on USD products it's creates a USD account aswell.

Thanks,

Any update on re-launch date?

 

[futuresbetting]

Thanks,

Any update on re-launch date?

still waiting for license from Fsc, next week i am being told...

 

[chilltrader]

For the mini dow future, you can roll positions o/n with no charge as long as you have the sufficient funds in the account to cover the margin requirements.
i.e..as long as their is $1900 in your account you will be allowed to roll over a nightly position of 1 mini dow futures contract.
the p/l is calculated during the day and at a settlement price which is given by the exchange.

Not sure what you meant by "the p/l is calculated during the day and at a settlement price which is given by the exchange".
I assume that if "rollover", the position is not closed i.e no P/L is realised. Correct?
In that case not sure why is it calculated?

 

[futuresbetting]

Not sure what you meant by "the p/l is calculated during the day and at a settlement price which is given by the exchange".
I assume that if "rollover", the position is not closed i.e no P/L is realised. Correct?
In that case not sure why is it calculated?

you are correct the position is not closed, but when you have a position the daily p/l is running to keep valuation of your account, the reason why the settlement price is given by the exchange is for your cash balance with Fbc at the specific time (close of business).
The position is still running, but will be calculated from the settlement price to the current market price.

 

[chilltrader]

you are correct the position is not closed, but when you have a position the daily p/l is running to keep valuation of your account, the reason why the settlement price is given by the exchange is for your cash balance with Fbc at the specific time (close of business).
The position is still running, but will be calculated from the settlement price to the current market price.

Execellent.. one last thing.

If I open an account with 2500 GBP and deal only in DOW Futures, will that money
be converted into USD @ spot time of the day I do the transfer?

Also:
- If I want to withdraw money, whats the mechanism? i.e will it converted to GBP @ time
I ask for refund?
- Will you charge for refunds?
- How much time will it take to refund? Are you part of the new "same day xfr"
mechanism?
- How do I xfr funds into FB ?


Cheers

 

[futuresbetting]

who are, "London Capital Group", have they acquired Futuresbetting.com?

London Capital Group run a few spreadbetting platforms the biggest is capital spreads, and before you go on about us being another one of their clones our model is independant from them with thru DMA and all trades hedged as it was before