Post your bad spread bet fills here, research needed!

[Truth Seeker]

Most people lose trading forex but that doesn't stop forex brokers ripping them off with slippage. The difference in forex is that they are starting to get caught.

Very good points and to add spread betting firms also have to follow rules too. They can't advertise tiny spreads when over half of the orders are being filled at the advertised spread plus whatever slippage they decide per pip a trade.
That's the whole point of this thread, to expose the worse offenders.

 

[scose-no-doubt]

If you have nothing to contribute, please leave.

Right back atcha. Still no evidence from you.

 

[gle101]

OP? ffs? I never did understand abbreviated CHAV. Care to expand? Then leave, thanks.

You can't tell everybody to leave a public forum.
You are trying to start a war against the SB industry, it will not work, you will not have enough soldiers on your side. I think you have gambled with too much money, got burned and want to get even. High stakes is not suited for market makers, you should be aware of this fact by now I guess. If you want to play it big, futures is the way to go and proper
Risk & Money Management to go with it.

 

[Truth Seeker]

You can't tell everybody to leave a public forum.
You are trying to start a war against the SB industry, it will not work, you will not have enough soldiers on your side. I think you have gambled with too much money, got burned and want to get even. High stakes is not suited for market makers, you should be aware of this fact by now I guess. If you want to play it big, futures is the way to go and proper
Risk & Money Management to go with it.

No, no, and no, gle. Firstly I do trade with normal brokers and pay the full tax, well I won't be anymore as I now have been put in touch with a great accountant that actually specifies in off shore, so I'm now happy with that. Secondly I trade in a different style with spread bet companies. But what I have consistantly noticed is how rarely I actually get the advertised spread. I'm paying 1.7, 2.3 spread on the euro with CMC as they bleat on about their 0.7 spread! I'm not on about around high volatile times either. If I got what they advertise, I would be making another 30%+ easily, and I want that extra percent as it's mine. FXCM, they are slipping me too, as are GFT, not so much though, the best for non slippage is Pro Spreads, but if you're on the mini (which you should be to start out to test the execution as it's on the same feed) they stick 1 pip each side on the euro, so you end up paying 3 pips round trip, and for scalping, that's a no no. You pay 0.8 each side for full size, and 0.5 per side for high volume, but still that equates to 2 pips for the euro.
All I want is a more accurate description. I want the games to stop (market trade rejections, and suspensions. If they can't deliver what they advertise, then they will be fined, it's as simple as that, and that will continue until they do.

 

[gle101]

No, no, and no, gle. Firstly I do trade with normal brokers and pay the full tax, well I won't be anymore as I now have been put in touch with a great accountant that actually specifies in off shore, so I'm now happy with that. Secondly I trade in a different style with spread bet companies. But what I have consistantly noticed is how rarely I actually get the advertised spread. I'm paying 1.7, 2.3 spread on the euro with CMC as they bleat on about their 0.7 spread! I'm not on about around high volatile times either. If I got what they advertise, I would be making another 30%+ easily, and I want that extra percent as it's mine. FXCM, they are slipping me too, as are GFT, not so much though, the best for non slippage is Pro Spreads, but if you're on the mini (which you should be to start out to test the execution as it's on the same feed) they stick 1 pip each side on the euro, so you end up paying 3 pips round trip, and for scalping, that's a no no. You pay 0.8 each side for full size, and 0.5 per side for high volume, but still that equates to 2 pips for the euro.
All I want is a more accurate description. I want the games to stop (market trade rejections, and suspensions. If they can't deliver what they advertise, then they will be fined, it's as simple as that, and that will continue until they do.

I have not traded live with CMC next-gen so I can't really tell. It haven't been a lot of bad reviews on the CMC thread (except yours). Why don't you try some others, like City or Capitalspreads to see if they can deliver according to you standards. CMC next-gen platform is quite new so there is bound to be some initial technical problems.

 

[Truth Seeker]

I have not traded live with CMC next-gen so I can't really tell. It haven't been a lot of bad reviews on the CMC thread (except yours). Why don't you try some others, like City or Capitalspreads to see if they can deliver according to you standards. CMC next-gen platform is quite new so there is bound to be some initial technical problems.

I have been a CMC customer since 2001. I pulled most of my money out years ago and just kept a couple of thousand in there just incase they got better, and to avoid the hassle of opening another account in the future if I wanted to. I have traded live with them and the demo and the live are the same as far as I can see, as I said they were ok up to a month or so ago in which I built my account up fast, then they have got really bad with their execution, and the other tricks that have been recorded and posted.

 

[gle101]

I have been a CMC customer since 2001. I pulled most of my money out years ago and just kept a couple of thousand in there just incase they got better, and to avoid the hassle of opening another account in the future if I wanted to. I have traded live with them and the demo and the live are the same as far as I can see, as I said they were ok up to a month or so ago in which I built my account up fast, then they have got really bad with their execution, and the other tricks that have been recorded and posted.

Time to move on then I guess. This is part of the game, you have gotten quite enough from them I guess. If you continue discredit them you will absolutely be banned from trading with them in the future (if they find out who you are).

 

[gle101]

I have been a CMC customer since 2001. I pulled most of my money out years ago and just kept a couple of thousand in there just incase they got better, and to avoid the hassle of opening another account in the future if I wanted to. I have traded live with them and the demo and the live are the same as far as I can see, as I said they were ok up to a month or so ago in which I built my account up fast, then they have got really bad with their execution, and the other tricks that have been recorded and posted.

Scalping big time with SB is sensitive stuff, reduce you stake, it might help.

 

[barjon]

ok, that's enough guys - my delete finger's sore, so bans next

 

[gle101]

ok, that's enough guys - my delete finger's sore, so bans next

Ha ha, yes they kind of went out of hand.

 

[pboyles]

Here's something for you to look into. How many SB companies advertise cost free wire transfers and how many of them actually carry out 'wire syphoning'? I know you can't help yourself but PC really needs to tell you to knock it off before you do any more harm.

Legal scam: Wire Siphoning - Personal Finance

 

[Black Swan]

So..where were we..?

 

[Truth Seeker]

ok, that's enough guys - my delete finger's sore, so bans next

Thanks Jon.

 

[Black Swan]

Here's something for you to look into. How many SB companies advertise cost free wire transfers and how many of them actually carry out 'wire syphoning'? I know you can't help yourself but PC really needs to tell you to knock it off before you do any more harm.

Legal scam: Wire Siphoning - Personal Finance

 

[Truth Seeker]

Here's something for you to look into. How many SB companies advertise cost free wire transfers and how many of them actually carry out 'wire syphoning'? I know you can't help yourself but PC really needs to tell you to knock it off before you do any more harm.

Legal scam: Wire Siphoning - Personal Finance

Everything can be looked into, it just takes time. First on the list is with what's being advertised and what's being received to the consumer. I'm more determined than ever to see this through after today.

 

[Ross Spur]

No, no, and no, gle. Firstly I do trade with normal brokers and pay the full tax, well I won't be anymore as I now have been put in touch with a great accountant that actually specifies in off shore, so I'm now happy with that. Secondly I trade in a different style with spread bet companies. But what I have consistantly noticed is how rarely I actually get the advertised spread. I'm paying 1.7, 2.3 spread on the euro with CMC as they bleat on about their 0.7 spread! I'm not on about around high volatile times either. If I got what they advertise, I would be making another 30%+ easily, and I want that extra percent as it's mine. FXCM, they are slipping me too, as are GFT, not so much though, the best for non slippage is Pro Spreads, but if you're on the mini (which you should be to start out to test the execution as it's on the same feed) they stick 1 pip each side on the euro, so you end up paying 3 pips round trip, and for scalping, that's a no no. You pay 0.8 each side for full size, and 0.5 per side for high volume, but still that equates to 2 pips for the euro.
All I want is a more accurate description. I want the games to stop (market trade rejections, and suspensions. If they can't deliver what they advertise, then they will be fined, it's as simple as that, and that will continue until they do.

Ever noticed that the SBs with the least slippage often have the widest spreads? Doesn't seem quite fair to complain about CMC sometimes giving you 1.7 or 2.3 rather than 0.7pt on EU, yet then praise Prospreads for always giving 3pt.

You say that you trade a different style with SB. Maybe it would help if you told us what it involves?

Also, if you're now able to trade through a DMA broker and not pay tax, why even bother with spreadbet?

 

[Truth Seeker]

Ever noticed that the SBs with the least slippage often have the widest spreads? Doesn't seem quite fair to complain about CMC sometimes giving you 1.7 or 2.3 rather than 0.7pt on EU, yet then praise Prospreads for always giving 3pt.

You say that you trade a different style with SB. Maybe it would help if you told us what it involves?

Also, if you're now able to trade through a DMA broker and not pay tax, why even bother with spreadbet?

Good questions Ross. CMC are not delivering what they are advertising, that's against the law in this country, and it goes for other spread bet companies too. If you can't deliver what you advertise then you have to change your advert, it's that simple.

I gave praise to Pro Spreads because they deliver what they advertise I would say 90% of the time easily. I'm not happy about the the spread, of course, but I'm confidence I will get the price that is quoted. The example I gave of CMC is in quiet market times, when the volume increases around opening range times, forget it, you get slipped more, and it's not right.

My money management is more conservative with my spread bet trades, so really there's nothing more I can do, it's just the execution that is now letting me down. I will add again, CMC were great up until a month ago, I got minimal slippage, but overall I was more than happy, but it's all changed, the slippage is horrendus even though they have advertised that they have reduced their spreads my fills are much worse, and that's not even counting the rejected trades and suspended markets!

I didn't say I no longer have to pay tax, I do, it's off shore yes, but it's still a certain percentage and expensive to set up, but less than here, but much more than zero, and I'm still paying the normal amount earned up to recently. I hate Tax, I think I will move eventually, well that's the plan, this country is a rip off. Believe me, if I could trade with proper brokers for zero tax, I would, and wouldn't give a second look to these bucket shop bookies, but for now I'm stuck so I'm going to do my best to make sure they deliver what they advertise.

 

[Visaria]

Not bad, 59 posts in a day!

 

[wackypete2]

Not bad, 59 posts in a day!

You missed the other 59 that were deleted.

Peter

 

[Visaria]

You missed the other 59 that were deleted.

Peter