GFT Spreads

[cube101]

Hello,
Hopefully someone with a GFT account can help me out here.
I'm thinking of opening an account with them but am trying to find out their min size per point on the FTSE and DOW?
From what i can see on their site it looks like £1 per point but i have seen a few post knocking about on here that seem to interpret it as £10 per point....
this is from their site:
"The minimum stake for all markets with GFT Global Markets is £1 (or currency equivalent). The lot size of the corresponding underlying market is provided for your information, as a guide to underlying market trading size."
Am I missing something here?

Thanks

 

[Slorm]

If you check the Market Information Sheets for Indices it states that the underlying lot size is £10 for the FTSE.

Try a demo account, you'll soon see that their index point is one tenth of a point on the FTSE.

 

[brasil2000]

Hi,

I've got a live account and can confirm the minimum bet size is £1 per point, and all the trades you have open and your stops are shown live on the chart

 

[Slorm]

Let me try to clear this up, the underlying lot size in £10 per point, however with GFT a point in one tenth of a point.

By way of example, with most SB firms if the FTSE moves from 6500.5 to 6501.5 and assuming a stake of £1 per point you will win/lose £1. On GFT you will win/lose £10 because a point is is gained/lost based on the figure AFTER the decimal point with GFT.

Put another way, if the FTSE moves from 6500.5 to 6500.8 you win/lose £3 with GFT.

I doubt very much that the demo account is different from the live and if it is then their market information sheet is wrong as it clearly states the lot size as £10.

 

[cube101]

Thanks for the replies. an equivalent of 10 per actual index point is way too much me at the moment, maybe in a year or two.

 

[stevespray]

Let me try to clear this up, the underlying lot size in £10 per point, however with GFT a point in one tenth of a point.

By way of example, with most SB firms if the FTSE moves from 6500.5 to 6501.5 and assuming a stake of £1 per point you will win/lose £1. On GFT you will win/lose £10 because a point is is gained/lost based on the figure AFTER the decimal point with GFT.

Put another way, if the FTSE moves from 6500.5 to 6500.8 you win/lose £3 with GFT.

I doubt very much that the demo account is different from the live and if it is then their market information sheet is wrong as it clearly states the lot size as £10.

This is not correct - Whilst the underlying lot size is £10 per whole point (ie one LIFFE FTSE Futures contract) the SB account allows trades of £1 per whole point.

Hope this clears the matter up.

Steve.

 

[Slorm]

This is not correct - Whilst the underlying lot size is £10 per whole point (ie one LIFFE FTSE Futures contract) the SB account allows trades of £1 per whole point.

Hope this clears the matter up.

Steve.

That's certainly not the case on the demo account, unless it's changed in the last week or so. It nearly gave me a heart attack watching it click up at a tenth of an index point.

I'll check again when I have a moment to reinstall the software.

 

[Slorm]

I've reloaded the Dealbook software to check this out and this is most strange. Checking the statements it definately does show as £1 per index point (not pip) on the initial deals, yet when I first tested it the on-screen figures were running round faster than the reels on a fruit machine, a week or two back. It was definately moving at £10pp on-screen yet the statement clearly shows £1pp.

I've tested it today and this time it's acting normally so maybe there was fault with the first installation, I can't think what else would have caused it.

Anyway, it's true, it's £1pp.

My sincerest apologies if I've misled anyone and for wasting your time

 

[cube101]

no problem, Just installed my self... Glad it is £1 per point, thats much more the price point i was looking at and apart from the potentially high per point price (which is now okay) they seem to be well regarded.

 

[Lightning McQueen]

Its £1 / (whole) point on the demo! not 0.1

A quick trade on the demo proves this, I bought Ftse at 6318.6, sold at 6316.4 - a loss of 2.2 points = loss of £2.20

I think that dealbook360 is a bit too busy for my tastes, so many bells and whistles, not keen on the charting so far, I believe this platform could ok once learned, which could take a while in my case.


Lightning strikes

 

[England765]

I just logged into GFT's new web-based platform, and have to say it's much more my tatse than 360. No download, easy to use, great charts.