FuturesBetting? Holy Moly !!

[dcarrigan]

I had it in my mind that the demo account facility didn't include a real time feed

mine is live? they spent a lot of time helping me set up yesterday. also gave me remote assistance while showing me the site, have demo account set up for 1 week, i am able to buy and sell live. for 5k deposit i can trade 6 lots dow march, or 4 lots over night.

 

[Quercus]

Hi Guys,
Be very aware that these prices that CMC offer are their own. The charts take into account various parameters from the futures to the cash, and who knows what else? They use the spread to absorb spikey moves in the futures and for all I know it helps them balance what is the bias in their client's accounts also. You need lots of patience to allow their price to swing around and settle in with the market. Scalping is VERY VERY hard!Sorry I can't be more exact than this but it's just the way I see it.
Yesterday was a classic example of CMC having their cake and eating it - they were biassed long all day with a difference of around 16 pts below the futes price, whereas the days before their difference was on average 20 pts, and even got as much as 28 below. They were clearly biassed long yesterday! Today we're back to the current standard of 20.
These are CFD prices I'm talking about here, so I can't comment on SB, but as far as I see it their methods would be much the same, if not more removed from reality!
I was in a similar position to you guys two years ago. It's taken me this long to realise that patience and a plan is mandatory, and I'm only now getting my account back to where it was all that time ago!
Hope this helps!
Cheers
Quercus

 

[Hulk]

Quick quesiton, how much is required to open an account with these guys? Also, do they use a TT style ladder for intra-day type trading?

 

[Jack o'Clubs]

Quick quesiton, how much is required to open an account with these guys? Also, do they use a TT style ladder for intra-day type trading?

£5k and yes there's a ladder / you can work orders. (I guess you mean Futures Betting / Two Way Futures, not CMC). I've been using them for a month or so now and am very happy with the service/interface.

 

[Hulk]

Cheers for this, do they also offer market profile. Im used to trading in an arcade in London paying exorbitant desk fees. The only costs I would incur with these guys is for RT's and the spread, and for that I get all the technical tools I need, a live squawk etc etc...sounds too good to be true?

 

[rexyu]

Just to get back, with my apologies, to the tax question, I would tell you of the following.

When I started SBing (with Finspreads) about 4 years ago, I was concerned about the claim that all profits from SBing were tax free. All the SB firms will tell you that they are.

I telephoned my local tax office and put the question to them. After several minutes of the guy I was speaking to going into a huddle with his superior, the answer was this

"You will not have to declare any profits because we do not treat financial SBing as a business activity. If we did, then we would have to allow you to off-set any losses against you profits"

That's good enough for me, although if I were ver to be in the position of making considerable profits, I would write and ask the same question

 

[jmreeve]

Does anyone know how they treat limit orders?

Do these go straight through to the market so that you can buy at the bid and sell at the offer?

 

[dcarrigan]

Does anyone know how they treat limit orders?

Do these go straight through to the market so that you can buy at the bid and sell at the offer?

on fb you can bring a window up and set stop or limit wherever you want. as long as the dow goes through that num your order is filled.you can see your stop/ limit on the ladder ready to be taken.

 

[dcarrigan]

trying to decide if i am ahead of the pack or mug after trading with these for a profitable 5-6 weeks. doesnt seem to be much enthusiasm from other posters? anyone's thoughts on the subject.

 

[A Dashing Blade]

trying to decide if i am ahead of the pack or mug after trading with these for a profitable 5-6 weeks. doesnt seem to be much enthusiasm from other posters? anyone's thoughts on the subject.

I'm totally happy with them & intend filling out the forms this w/e

Seen the software, looks good.

Segregated client funds in a UK branch of Barclays (totally kosher, little bro' used to work there, he checked them for me)

Effective direct access to the exchange.

Gibralter FSA registered also checks out with the FSA.

OK, they don't quite match IB on costs and there's not a programmable api yet (tho' I understand that's coming this Autumn).

I still maintain it's a no-brainer.

 

[rexyu]

I'm totally happy with them & intend filling out the forms this w/e

Seen the software, looks good.

Segregated client funds in a UK branch of Barclays (totally kosher, little bro' used to work there, he checked them for me)

Effective direct access to the exchange.

Gibralter FSA registered also checks out with the FSA.

OK, they don't quite match IB on costs and there's not a programmable api yet (tho' I understand that's coming this Autumn).

I still maintain it's a no-brainer.

What is your opinion on 2WF's charts? Are they of a minimum quality and content? Or could you trade from them. I'm very interested in signing up, but can't see chart samples in any of their sales blurb. Don't want to go to the expense of subscribing to a proper charting package if 2WF's will do the job.

Glad you're happy with them. As you say....it's a no-brainer of a decision.

 

[c6ackp]

DB

I tried this platform last year, but found it a bit awkward for scalping as it wasn't possible to place bracket orders, auto stop-loss, etc.

Do you know if these features are available now, please?

Thanks,
c6

I'm totally happy with them & intend filling out the forms this w/e

Seen the software, looks good.

Segregated client funds in a UK branch of Barclays (totally kosher, little bro' used to work there, he checked them for me)

Effective direct access to the exchange.

Gibralter FSA registered also checks out with the FSA.

OK, they don't quite match IB on costs and there's not a programmable api yet (tho' I understand that's coming this Autumn).

I still maintain it's a no-brainer.

 

[dcarrigan]

DB

I tried this platform last year, but found it a bit awkward for scalping as it wasn't possible to place bracket orders, auto stop-loss, etc.

Do you know if these features are available now, please?

Thanks,
c6

think you need to set own stop loss. not sure re bracket orders as i trade then put order on ladder any thing from 3 points to be in profit. my only downsides to the site are can only find 2 charts both forex. and when i signed up i asked about the squawk box what someone earlier had meantened, they said they would speak to me after i had sighned up about it? allso i have made a couple of trades that i didnt mean to. own fault, had window right to the bottom of screen
and when i clicked to open a another programme found i had clicked the red area on ladder selling at market, i have now shortened ladder and everything ok.

 

[fxfollower]

Is this too good to be true?

Has anyone had any bad experiences with FuturesBetting, regards to usual SB tricks (dealer errors, price skewed to pickup stops, platform freezes on big moves, prices held, instrument suddenly turns to "phone only orders", etc etc) or indeed any new SB tricks (I won't post any ideas) ?

 

[adrianbuthee]

Has anyone had any bad experiences with FuturesBetting, regards to usual SB tricks (dealer errors, price skewed to pickup stops, platform freezes on big moves, prices held, instrument suddenly turns to "phone only orders", etc etc) or indeed any new SB tricks (I won't post any ideas) ?

Hi fxfollower.

You may have read about TwoWayFutures, we introduce to Futuresbetting. I think the best thing for you is to see it all for yourself. I hold webinars and seminars for the product, telling you more about it and why you should trade with them.

If you would like to attend a webinar, please let me know. That is the best way to find an answer to your questions. Remember, with TwoWayFutures, you will be trading direct market access products, so these problems cannot occur.

I can also potentially put you in contact with a few of my clients, if you need further reassurance.

Regards

Adrian
TwoWayFutures

 

[A Dashing Blade]

Has anyone had any bad experiences with FuturesBetting, regards to usual SB tricks (dealer errors, price skewed to pickup stops, platform freezes on big moves, prices held, instrument suddenly turns to "phone only orders", etc etc) or indeed any new SB tricks (I won't post any ideas) ?

If you appreciate their business model (ie client orders pumped stright through to underlying exchange) then you should realise that these things cannot happen.

Been using it for 3 months semi-scalping (ie 5 - 30 min market views trades) on Stoxx & Bund and have had absolutely no probs.

 

[fxfollower]

non biased customer feedback

If you appreciate their business model (ie client orders pumped stright through to underlying exchange) then you should realise that these things cannot happen. .

The customer version of the business model of most SB companies sound good.

Been using it for 3 months semi-scalping (ie 5 - 30 min market views trades) on Stoxx & Bund and have had absolutely no probs.

Thanks. Just wanted to hear how the platform and company really behaves from customers who use it.

 

[A Dashing Blade]

Thanks. Just wanted to hear how the platform and company really behaves from customers who use it.

Only from a Eurex perspective . . .

Never gone down.

Apart from a couple of inadvertant trades to begin with no probs. I never trade over figures so can't comment on that score. OCO orders (stop or limit) are about as complicated as you can enter.

Forget about FB's charts

Can't get price data out of their system into other apps.

 

[fxfollower]

Thanks again Dashing Blade. Appreciate you taking the time to respond.

I don't need anything flash. Just a reliable platform that allows quick executions at realtime market prices.

 

[dcarrigan]

Has anyone had any bad experiences with FuturesBetting, regards to usual SB tricks (dealer errors, price skewed to pickup stops, platform freezes on big moves, prices held, instrument suddenly turns to "phone only orders", etc etc) or indeed any new SB tricks (I won't post any ideas) ?

none of that with futures betting. fast fill ladder put buy /sell where ever you want, price taken as long as futures go through . none of problems mentioned. if site goes down phone up, answered in 5 secs. all in my expereance.