prospreads.com

gle101 said:
Yes I agree completely, not being able to set the stop loss in points in the order ticket or in the ladder is a huge draw down. . . .
Click to expand...

From the help files . . .

"By default, the Submit Order dialog, or Order Ticket, displays the standard information required for a basic order type (e.g. Limit, Market )."
 
R.Charnock said:
I did get an e-mail from them.
Click to expand...

R.Charnock,

The email was a general advertisement as it stated at the bottom that Prospreads
has no connection with Multicharts. I thought they were offering MC but read the email again and it appears they are not

Ged
 
I would recommend using different platforms for different instruments going to whoever is the cheapest. It's annoying, but necessary.

Prospreads are cheapest for some instruments, expensive for others.
 
gedward3 said:
R.Charnock,

The email was a general advertisement as it stated at the bottom that Prospreads
has no connection with Multicharts. I thought they were offering MC but read the email again and it appears they are not

Ged
Click to expand...

I listen to their online demonstrations on Thursday,Prospreads are offering Multichart to funded accounts holders.The data feed is provide by CMC,CBOT,???? and one that I can't remember the name of,data fees are waiver for these three.
 
Re: prospreads.comwebinar

gle101 said:
Yes I agree completely, not being able to set the stop loss in points in the order ticket or in the ladder is a huge draw down. This missing feature alone make me hesitate to sign up with them. I think I will wait until they implement it, which probably won't be long as they are now also targeting retail clients.
Click to expand...

Stop Loss Parameters was showed in the webinar yesterday,I ask about what minimun stop distance are allow and was told one point or 1 pip.

Chart Trading:Chart Trading - MultiCharts


Orders and Strategies
Bracket
Breakeven
Breakout Down/Fade Strategy
Breakout Strategy
Breakout Up/Fade Strategy
Fade Strategy
Limit Order
Master Strategy
Profit Target
Stop Limit Order
Stop Loss
Stop Order
Trailing Stop
 
Re: prospreads.comwebinar

brasil2000 said:
Stop Loss Parameters was showed in the webinar yesterday,I ask about what minimun stop distance are allow and was told one point or 1 pip.

Chart Trading:Chart Trading - MultiCharts


Orders and Strategies
Bracket
Breakeven
Breakout Down/Fade Strategy
Breakout Strategy
Breakout Up/Fade Strategy
Fade Strategy
Limit Order
Master Strategy
Profit Target
Stop Limit Order
Stop Loss
Stop Order
Trailing Stop
Click to expand...
If that is the case it sounds promising, but they have to be predefined by user.
 
Prospreads appear to be having problems, no prices from CBOT or CME for me. Anyone else?
 
Visaria said:
Prospreads appear to be having problems, no prices from CBOT or CME for me. Anyone else?
Click to expand...

We are having some issues with our trainer/demo platform this morning as some work has overrun but however this is not affecting the live clients

Regards

PS
 
Yes, it was affecting live prices in that there were none!!! I was on the platform from 11pm to 12am and there was only currency quotes, nothing from CME or CBOT, during that time. You guys had a problem the previous Sunday on at least one commodity.

This is something you really need to sort out. I had to use an alternative provider yesterday evening, I'm not pleased.
 
Visaria said:
Yes, it was affecting live prices in that there were none!!! I was on the platform from 11pm to 12am and there was only currency quotes, nothing from CME or CBOT, during that time. You guys had a problem the previous Sunday on at least one commodity.

This is something you really need to sort out. I had to use an alternative provider yesterday evening, I'm not pleased.
Click to expand...

We are very sorry to hear this did you try to call the office or email with this issue as we have had no other clients with this problem last night, next time you experience this issue would you please on the platform go to the 'help' and 'send status' with your issue so we can reply instantly

regards

PS
 
Is anyone in the office at night? I would have phoned, but your website says phone lines open from 6.15am to 9.15pm, so naturally i assumed no one was going to be in.
 
Can I just say that you have the most unintelligible statements of any broker I have ever used.
 
Also, why is there no way to login to have a look at account balances, trade history etc?
 
Also part II 12 ticks slippage on NQ during market hours on a stop not over news - not impressed.
 
Turns out that last 'slippage' was an incorrect fill. You corrected it.

Last night you filled me 40 ticks away from market. You agreed to correct it.

On the one hand it's great that you're correcting these, on the other, I don't want to be your babysitter and I lost the first 35 mins of trading the FTSE dealing with this in which time the market has moved 40+ points.
 
Can a ProSpreads representative kindly clarify the following:

Reference: ProSpreads Product Equity Tab
SHARES OFFERED: FTSE 100
UNDERLYING PRODUCT: Individual Shares
WHOLE POINT MOVE: £ 0.01
MINIMUM TRADE SIZE: 100 shares
MARGIN: 10 %
SPREAD: 10 basic points / (0.1 %)
OVERNIGHT FINANCE RATE: 1 month LIBOR +/- 2.5 %
TRADING HOURS (UK): 08:00 - 16:30
EXPIRY: 31/12/2015

Reference: Yahoo Finance
Llyods Banking Group PLC (LLOY.L)
Ask: 45.70
Bid: 45.69

For the purpose of example the above quote is adopted as reflective of the exchange data.

Questions:

  1. The above quote spread remains at 0.01 (45.70 - 45.69) for 5 minutes i.e. no change in Ask or Bid price during the 5 minutes. During this time a ProSpreads client opens long on LLOY.L. Shortly after opening long, and within stated 5 minutes, ProSpreads client decides to close the long position.
  2. A) No slippage occurs - What will be the open fill price above 45.70 Ask ?
  3. B) No slippage occurs - What will be the close fill price below 45.69 Bid ?
  4. Does 1 contract equate to £1 / point @100 shares ?
  5. If clause 4. correct what is the required Margin per contract ?
Thanking ProSpreads in advance and in faith the above is sufficiently clear.
 
Ask: 45.70
Bid: 45.69

For the purpose of example the above quote is adopted as reflective of the exchange data.

Questions:

  1. The above quote spread remains at 0.01 (45.70 - 45.69) for 5 minutes i.e. no change in Ask or Bid price during the 5 minutes. During this time a ProSpreads client opens long on LLOY.L. Shortly after opening long, and within stated 5 minutes, ProSpreads client decides to close the long position.
  2. A) No slippage occurs - What will be the open fill price above 45.70 Ask ?
  3. B) No slippage occurs - What will be the close fill price below 45.69 Bid ?
  4. Does 1 contract equate to £1 / point @100 shares ?
  5. If clause 4. correct what is the required Margin per contract ?
Thanking ProSpreads in advance and in faith the above is sufficiently clear. [/QUOTE]

The price displayed is the underlying MKT spread the 10bp gets added to your bet so if i added the spread it would display
45.64431-45.7457 (this is pence) and these would be your prices to buy and sell,
100 shares equates to £1 per point move ie 45.00 to 46.00
margin requirement would be £4.57 per 100 shares

Regards

Prospreads
 
ProSpreads said:
Ask: 45.70
Bid: 45.69 ................................................

 The price displayed is the underlying MKT spread the 10bp gets added to your bet so if i added the spread it would display
45.64431-45.7457 (this is pence) and these would be your prices to buy and sell,
Click to expand...

Reference: ProSpreads Product Equities Tab - SPREAD: 10 basic points / (0.1 %)

So in summary

45.70 + ( 45.70 x (0.1/100) ) = 45.70 + 0.0457 = 45.7457
45.69 - ( 45.69 x (0.1/100) ) = 45.69 - 0.04569 = 45.64431

Spread = 0.10139 ( 45.7457 - 45.64431 )

The (0.1%) is evident in the above calculations.
I don't understand where the - 10 basic points - fits into the equation as the 0.1% appears to have the calculations covered.

Thanks for clarifications - Regards
 
Last edited:
Phylo said:
Reference: ProSpreads Product Equities Tab - SPREAD: 10 basic points / (0.1 %)

So in summary

45.70 + ( 45.70 x (0.1/100) ) = 45.70 + 0.0457 = 45.7457
45.69 - ( 45.69 x (0.1/100) ) = 45.69 - 0.04569 = 45.64431

Spread = 0.10139 ( 45.7457 - 45.64431 )

The (0.1%) is evident in the above calculations.
I don't understand where the - 10 basic points - fits into the equation as the 0.1% appears to have the calculations covered.

Thanks for clarifications - Regards
Click to expand...

When you hit the buy button for instance prospreads buys at 45.70 we then sell the trade to you as a spread bet at 45.7457(10 basis points added) this in turn is the price you have gone long at and the difference between the 2 prices is our profit

Hope this helps

You can try this on our demo platform which can be found on our website here if you would prefer

Free Financial Spread Betting Demo Account|ProSpreads

regards

PS
 
ProSpreads said:
When you hit the buy button for instance prospreads buys at 45.70 we then sell the trade to you as a spread bet at 45.7457(10 basis points added) this in turn is the price you have gone long at and the difference between the 2 prices is our profit

Hope this helps

You can try this on our demo platform which can be found on our website here if you would prefer

Free Financial Spread Betting Demo Account|ProSpreads

regards

PS
Click to expand...

Reference as in preceding posts: SPREAD: 10 basic points / (0.1%)

OK,

The 10 basic points refers to PS profit - as below:

10 basic points - profit added @ Ask = 0.0457 (PS Sells @ 45.7457 - PS Buys @ 45.70)
10 basic points - profit added @ Bid = 0.4569 (PS Sells @ 45.69 - PS Buys @ 45.64431)

1 basic point is equal to 1/100 of 1% .. source-investopedia
1 basic point = 1/100 x 1/100 = 1/10,000 = 0.0001
10 basic points = 10 x 0.0001 = 0.001 ..(0.1%)

Further

  1. 10 basic points @ 45.70 = 0.0457 .. (45.70 x 0.001)
  2. 10 basic points @ 145.70 = 0.1457 .. (145.70 x 0.001)
  3. 10 basic points @ 245.70 = 0.2457 .. (245.70 x 0.001)
Answers have gratefully enabled essential calculations to be revealed.

The PS mark up - as below: - alternative derivation

  1. 0.1% = 0.1/100 and
  2. 0.1/100 = 0.001 ...(10 basic points)
45.70 + ( 45.70 x 0.001 ) = 45.70 + 0.0457 = 45.7457
45.69 - ( 45.69 x 0.001 ) = 45.69 - 0.04569 = 45.64431

The PS add-on is 0.0457 + 0.04569 = 0.09139

The market spread is 45.70 - 45.69 = 0.01

The effective spread and total spread cost = 0.10139 .... (0.09139 + 0.01) or (45.7457 - 45.64431)

Further

If the market spread on LLOY.L were to widen to 0.04 (45.70 - 45.66) and SP profits added, then the effective spread and total spread cost = 0.13136

Thank you for drawing my attention to Demo. Other deliberations detain me at present and I am more intent on establishing first due diligence.

Regards
 
Last edited:
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