Smart Live Markets - Spread Bet on MT4

[Trading Gurus]

Hi Jim,

Floating spreads can easily widen by the time you need to exit a trade!

SLM have assured me their spreads aren't going to "float" as wildly as some other brokers one might mention. As always, time will tell. DYOR!

Cheers,

Another Jim

 

[montmorencyt2w]

To be fair, things like AUD/USD are potentially useful, and at least EUR/GBP isn't worse.


On another tack, if you follow the PC@CMC line of argument, it's the execution that's important, and consistent spreads not headline ones.

We'll have to see how the widening works in practice, although I don't like the weaselly "target spreads" phrase.

On balance I'm still optimistic about SLM, and I'm not giving up on them, but I'll be wary.

 

[jimmc]

Hi Jim,

Floating spreads can easily widen by the time you need to exit a trade!

SLM have assured me their spreads aren't going to "float" as wildly as some other brokers one might mention. As always, time will tell. DYOR!

Cheers,

Another Jim

Thanks for the warning Jim. I just started a demo with slm, and was contemplating a live account, but we'll see how it goes. I guess we won't know for sure until next month when it all kicks in.

 

[jd1888]

To be fair, things like AUD/USD are potentially useful, and at least EUR/GBP isn't worse.


On another tack, if you follow the PC@CMC line of argument, it's the execution that's important, and consistent spreads not headline ones.

We'll have to see how the widening works in practice, although I don't like the weaselly "target spreads" phrase.

On balance I'm still optimistic about SLM, and I'm not giving up on them, but I'll be wary.

Fair comment. I think everyone here felt that same optimism when they appeared on the scene, but I think a lot of it may start to fade with moves like this.

I also don't think anyone on here that has an account and has been following this thread doesn't want to give up on them either, but only time will tell how this will work out for them and us (more importantly us).

 

[Smart Live Markets]

Thanks for replying SLM. Appreciate that you have made an effort to make MT4 usable for SB, which the rest of them haven't done.

You didn't address the TZ question. Which country are your servers located in? I would have assumed the UK, and therefore not much reason for them to be showing GMT+1 on the charts, is there?

Hello
Our main servers are based in London. That is nothing to do with the time zone being CET. That was a business decision as most of our clients (FX/CFD accounts) are based in central Europe, and that is also the same time that other MT4 providers use. So we thought we would be the same.
Regards
SLM

 

[Smart Live Markets]

Fair comment. I think everyone here felt that same optimism when they appeared on the scene, but I think a lot of it may start to fade with moves like this.

I also don't think anyone on here that has an account and has been following this thread doesn't want to give up on them either, but only time will tell how this will work out for them and us (more importantly us).

Hello

Please do not judge us prematurely.
The proof of the pudding is in the eating.
We are not going to launch something that leaves egg on our face.
Our variable spreads will put others to shame.
We are here to be the best, and give clients the best service we can.
Nothing has changed, but in order to do this we needed to go down this route.

Regards
SLM

 

[jd1888]

Hello

Please do not judge us prematurely.
The proof of the pudding is in the eating.
We are not going to launch something that leaves egg on our face.
Our variable spreads will put others to shame.
We are here to be the best, and give clients the best service we can.
Nothing has changed, but in order to do this we needed to go down this route.

Regards
SLM

Ok sorry for judging prematurely. I haven't had a great deal of experience with other variable spreads. but from what experience I do have they weren't good. We'll just have to sit tight and see what happens.

Has the the price feeds for the variable spreads been test on a platform?(I'm sure they would have)

If so I have some question I would like to ask which may or may not put help shed some light about how good or bad this could be:

What was the widest spread seen on the EUR/USD?

The average amount of time the spread on the EUR/USD was at the target spread or less? (daily, weekly and monthly)

That's all I can think of/have time for at the moment but I'm sure others could think of more?

 

[Pi3141]

Whats important is that SLM offers MT4 for spreadbetting, even if that means an increase in 1/2 on EUR/USD or whatever.

 

[montmorencyt2w]

Whats important is that SLM offers MT4 for spreadbetting, even if that means an increase in 1/2 on EUR/USD or whatever.

Yes. If it means that they have to offer less obviously good headline spreads in order to offer more consistent spreads across most trading conditions, I'm not worried about the odd pip or so. We will just have to see what happens with spread-widening.

 

[Ross Spur]

Yes. If it means that they have to offer less obviously good headline spreads in order to offer more consistent spreads across most trading conditions, I'm not worried about the odd pip or so. We will just have to see what happens with spread-widening.

Can't see how the spreads are going to be more consistent if they can now widen them at any time, making it difficult to check if an order has been hit. MT4 or not, I think they'll lose a large chunk of business from people who only trade EU.

 

[francisfinley]

Can't see how the spreads are going to be more consistent if they can now widen them at any time, making it difficult to check if an order has been hit. MT4 or not, I think they'll lose a large chunk of business from people who only trade EU.

Ross & Gle101 - is it me or are people like him and pineapple like those who queue up outside apple stores waiting for an iphone at 3am in the morning?

delirious on consumerism.

its prats like them that ruin it for everyone else. if i got the slightest wiff people would be still willing to pay to get a worse service what would i do?

EU on 1 pip fixed recently was perfect for everyone except them.

 

[easytimes]

Francis why don't you just use another broker? If it pi55ed me off that much I'd just switch. So far the service has been pretty good 'cos over the years I've dealt with some real cowboys in the SB market place, enough for me to blow my gasket at some of the tricks they used.

Some of the micro lot accounts the spread is quite an eye opener for example Tadawulfx on microlot accounts called Mini that is accounts up to $5000 the EURUSD spread is 3 pips, to get get 1 pip spreads you need to have a Premium account of $150,000+ There are other FX brokers that are similar especially on the mini/micro accounts. I think it's worth giving this lot some time because MT4 is a significant move in the SB arena, I just hope it takes off for them to be honest because if it does it means other SB brokers will be under pressure to provide automated trading on their platforms. I know you use other tools like Viper but there are a lot of traders using MT4 with EAs that can't spread bet. The versatility means I can effectively autotrade on hosted VMs running 24/7 without any or little intervention.

 

[francisfinley]

Francis why don't you just use another broker? If it pi55ed me off that much I'd just switch. So far the service has been pretty good 'cos over the years I've dealt with some real cowboys in the SB market place, enough for me to blow my gasket at some of the tricks they used.

Some of the micro lot accounts the spread is quite an eye opener for example Tadawulfx on microlot accounts called Mini that is accounts up to $5000 the EURUSD spread is 3 pips, to get get 1 pip spreads you need to have a Premium account of $150,000+ There are other FX brokers that are similar especially on the mini/micro accounts. I think it's worth giving this lot some time because MT4 is a significant move in the SB arena, I just hope it takes off for them to be honest because if it does it means other SB brokers will be under pressure to provide automated trading on their platforms. I know you use other tools like Viper but there are a lot of traders using MT4 with EAs that can't spread bet. The versatility means I can effectively autotrade on hosted VMs running 24/7 without any or little intervention.

Easy, SLM told me to switch.

What im getting at is the hype...

Have you actually calculated the benefit over someone like Alpari?

 

[montmorencyt2w]

Ross & Gle101 - is it me or are people like him and pineapple like those who queue up outside apple stores waiting for an iphone at 3am in the morning?

delirious on consumerism.

its prats like them that ruin it for everyone else. if i got the slightest wiff people would be still willing to pay to get a worse service what would i do?

EU on 1 pip fixed recently was perfect for everyone except them.

If the "him" is referring to me, Mr Finley, I can assure you that you could not be more wrong about me, iPhones, queuing, and consumerism.

If not, then I'll leave you in peace, and go about my business.

 

[gle101]

If the "him" is referring to me, Mr Finley, I can assure you that you could not be more wrong about me, iPhones, queuing, and consumerism.

If not, then I'll leave you in peace, and go about my business.

The same goes for me, ha ha.

 

[Ross Spur]

Ross & Gle101 - is it me or are people like him and pineapple like those who queue up outside apple stores waiting for an iphone at 3am in the morning?

delirious on consumerism.

its prats like them that ruin it for everyone else. if i got the slightest wiff people would be still willing to pay to get a worse service what would i do?

EU on 1 pip fixed recently was perfect for everyone except them.

Agree with the last sentence, but don't quite follow the rest.

 

[Trading Gurus]

Hi Francis,

Have you actually calculated the benefit over someone like Alpari?

1. If you make a profit at Alpari you pay tax on it.

2. If you don't like to pay tax, and you do like to automate, SLM lets you do that

2a. Unless you're a "sniper"!

Cheers,

Jim

 

[alan5616]

Hi Francis,



1. If you make a profit at Alpari you pay tax on it.

2. If you don't like to pay tax, and you do like to automate, SLM lets you do that

2a. Unless you're a "sniper"!

Cheers,

Jim

It seems that SLM might only accommodate "Snipers" who lose. If you are a Sniper who generates a profit then you could face problems. If your account doesn't get closed, then you might get slipped to death. This is not directed at SLM in particular but, all these MMs trade against their clients, by fair means or, as is usually the case, foul. I know of one case where a client scalped 300+ pips in a day (86 trades) and the MM closed their account.

I know it's too much to ask for but, I would love to see a department established within the FSA or Treasury to supervise and regulate all the SBs and MMs. I'm sure that, then, all the malpractices these people get away with, now, would be brought to an end.

Please, don't anyone defend these criminals, because I've had 20 + years trading experience, and a dozen accounts, to know just what strokes these bast*rds pull against their clients.

 

[gle101]

It seems that SLM might only accommodate "Snipers" who lose. If you are a Sniper who generates a profit then you could face problems. If your account doesn't get closed, then you might get slipped to death. This is not directed at SLM in particular but, all these MMs trade against their clients, by fair means or, as is usually the case, foul. I know of one case where a client scalped 300+ pips in a day (86 trades) and the MM closed their account.

I know it's too much to ask for but, I would love to see a department established within the FSA or Treasury to supervise and regulate all the SBs and MMs. I'm sure that, then, all the malpractices these people get away with, now, would be brought to an end.

Please, don't anyone defend these criminals, because I've had 20 + years trading experience, and a dozen accounts, to know just what strokes these bast*rds pull against their clients.

If the SB doesn't like your trading style they are free to close your account. There is nothing you or anybody else can do about it. Constant manipulation on the other hand by flagging a client, should result that a SB lose their SB license if not corrected.

 

[Ross Spur]

Exactly what MIFID was supposed to address.