TwoWayFutures

[Scalper Systems]

Me and why ?cause we automated the first SPREADBET with twowayfutures and Futuresbetting and cost a lot of money to .

Keep up the good work Adrain were taking the market by storm .
As the saying goes
"Hold on to your winners and cut your loosers ":O)

Franco

 

[bootsyjam]

r.e.

Thanks for the info Adrian. I think you are quite expensive for someone who does small volume a month (compared to IB), but perhaps competitive for someone who does larger volumes. Admittedly, there is the tax advantages to consider. Will mull it over...

Visaria,
I could be wrong, but from looking at IB, they come out more expensive as the spread on the FTSE index future (which I trade), is not a guaranteed 0.5. I have seen the market show a 1.5 point spread at some times. And on top of this, I think IB charge another 3 pounds(ish) per trade on top of this, which futuresbetting don't?
Happy to be proved wrong on this one

 

[Jack o'Clubs]

as the spread on the FTSE index future (which I trade), is not a guaranteed 0.5. I have seen the market show a 1.5 point spread at some times.

Nor is it guaranteed at Futuresbetting/2WF. If the market spread is 1.5 points when you want to trade that's what you get with FB/2WF because you're dealing straight into the market. You add their comm on top. FB are more expensive, than, say IB, but we can all do our calculations as to what the tax saving is worth to us. FB comms are also highly geared to volumes - I trade a few of a wide variety of instruments so get caught in the highest comm level, but if you were more focused and traded in higher volumes the comms come down pretty sharply.

 

[Visaria]

Nor is it guaranteed at Futuresbetting/2WF. If the market spread is 1.5 points when you want to trade that's what you get with FB/2WF because you're dealing straight into the market. You add their comm on top. FB are more expensive, than, say IB, but we can all do our calculations as to what the tax saving is worth to us. FB comms are also highly geared to volumes - I trade a few of a wide variety of instruments so get caught in the highest comm level, but if you were more focused and traded in higher volumes the comms come down pretty sharply.

Was just going to say the same thing!

 

[bootsyjam]

r.e.

Was just going to say the same thing!

damn, thanks Jack'0 and Visario. Need to do more research then! Am used to their ladder platform now-a lot more visual , but have not used dummy acct at IB yet so will compare.
One thing, I thought they just got money from the spread, what is this extra charge?

 

[Visaria]

Extra charge at FB? That's their commission and how they make their money. The spread is the market spread which they don't take, the market takes this.

 

[Jack o'Clubs]

Personally - if the FB guys are reading this! - I would rather the ladder just showed the market spreads, with the additional spread/comm getting added to your trade on execution - I find it confusing when I'm trying to quickly place a trade on the ladder at a particular level, when I've got to work out what the additional spread is - so rather than buying cable at 1.9, I have to work out I actually want 1.90016, or whatever.

 

[Visaria]

Personally - if the FB guys are reading this! - I would rather the ladder just showed the market spreads, with the additional spread/comm getting added to your trade on execution - I find it confusing when I'm trying to quickly place a trade on the ladder at a particular level, when I've got to work out what the additional spread is - so rather than buying cable at 1.9, I have to work out I actually want 1.90016, or whatever.

They should give an option on how you want it displayed.

 

[A Dashing Blade]

They should give an option on how you want it displayed.

They do (certainly for futures), have a nose around the interface.
Failing tha6t, just phone them up and ask!

 

[dcarrigan]

Nor is it guaranteed at Futuresbetting/2WF. If the market spread is 1.5 points when you want to trade that's what you get with FB/2WF because you're dealing straight into the market. You add their comm on top. FB are more expensive, than, say IB, but we can all do our calculations as to what the tax saving is worth to us. FB comms are also highly geared to volumes - I trade a few of a wide variety of instruments so get caught in the highest comm level, but if you were more focused and traded in higher volumes the comms come down pretty sharply.

havent been trading with fb much lately , just noticed they have new rate sheet which may get me interested again. seems they have put new rates on everything at 51-250 contracts. been trading ib very successfully with there spreads but the tax free advantage is luring

 

[dcarrigan]

They should give an option on how you want it displayed.

have option of ladder or just market price window . both with one click betting.

 

[gc1]

Correct me if I am wrong but haven't they made the 51-250 rate the same as 1-250 used to be and introduced a new (more expensive) rate for 0-50 ? So for very low volume traders they are actually twice as expensive as they used to be.

seems they have put new rates on everything at 51-250 contracts.

 

[Jack o'Clubs]

Correct me if I am wrong but haven't they made the 51-250 rate the same as 1-250 used to be and introduced a new (more expensive) rate for 0-50 ? So for very low volume traders they are actually twice as expensive as they used to be.

You're right GC, they've put charges up quite a bit at the lower end. My original rate card from when I opened an account has FTSE futures at £2.40 for 0-1000 lots/month. Now, it's £10 for 0-50, £5 for 51-250 and £2.50 from 251 to 1000. Other contracts are similar.

They are expensive, but I've used up both my wife's and my own CGT allowances for the year, so it's that or pay 40% tax. For my type of multi-day position trading it's not an issue, I guess they're just frightening off the small-scale scalpers/day-traders.
Rate card here:

http://www.futuresbetting.com/pdfs/futures_rate_card.pdf

 

[LevII]

You're right GC, they've put charges up quite a bit at the lower end. My original rate card from when I opened an account has FTSE futures at £2.40 for 0-1000 lots/month. Now, it's £10 for 0-50, £5 for 51-250 and £2.50 from 251 to 1000. Other contracts are similar.

They are expensive, but I've used up both my wife's and my own CGT allowances for the year, so it's that or pay 40% tax. For my type of multi-day position trading it's not an issue, I guess they're just frightening off the small-scale scalpers/day-traders.
Rate card here:
http://www.futuresbetting.com/pdfs/futures_rate_card.pdf

At those rates, compared with IB, the commission probably outstrips the tax saving

 

[dcarrigan]

You're right GC, they've put charges up quite a bit at the lower end. My original rate card from when I opened an account has FTSE futures at £2.40 for 0-1000 lots/month. Now, it's £10 for 0-50, £5 for 51-250 and £2.50 from 251 to 1000. Other contracts are similar.

They are expensive, but I've used up both my wife's and my own CGT allowances for the year, so it's that or pay 40% tax. For my type of multi-day position trading it's not an issue, I guess they're just frightening off the small-scale scalpers/day-traders.
Rate card here:

http://www.futuresbetting.com/pdfs/futures_rate_card.pdf

rate cards confusing me? £10 down to£5 if over 51 contracts . seems to be cheaper than ib?
theres are .5 spread +approx £3.5 com per round trip.

 

[LevII]

rate cards confusing me? £10 down to£5 if over 51 contracts . seems to be cheaper than ib?
theres are .5 spread +approx £3.5 com per round trip.

As it happens I got bored on friday and did 3 futures round trips while waiting for a decent stock trade. Fortunately made a small profit! Total commission $14.40 see attached account details. Commission on Futuresbetting $120 + spread? Even if it went into the next tranche still $60 in commission. QED?

The Russell was a nice profit in 3 1/2 minutes, shame about the S&P!

 

[dcarrigan]

As it happens I got bored on friday and did 3 futures round trips while waiting for a decent stock trade. Fortunately made a small profit! Total commission $14.40 see attached account details. Commission on Futuresbetting $120 + spread? Even if it went into the next tranche still $60 in commission. QED?

The Russell was a nice profit in 3 1/2 minutes, shame about the S&P!

sorry to confuse, my figures were for ft. i was trading er2 as on friday as well ,dont foreget that with ib there was also the .1 spread.thats$10 +$4.8 round trip com.

 

[dcarrigan]

sorry to confuse, my figures were for ft. i was trading er2 as on friday as well ,dont foreget that with ib there was also the .1 spread.thats$10 +$4.8 round trip com.

USD

Description Date Time Exchange Qty T.Price S.Price Commiss P/L Base Comm P/L In Base Code
ER2 DEC06 2006-12-01, 14:07:44 GLOBEX -2 775.1000 783.6000 -4.80 -1,704.80 -2.42448 -861.09448 O
ER2 DEC06 2006-12-01, 14:36:36 GLOBEX 2 774.4000 783.6000 -4.80 1,835.20 -2.42448 926.95952 P C
ER2 DEC06 2006-12-01, 14:36:36 GLOBEX 1 774.4000 783.6000 -2.40 917.60 -1.21224 463.47976 P C
ER2 DEC06 2006-12-01, 14:37:45 GLOBEX -1 774.6000 783.6000 -2.40 -902.40 -1.21224 -455.80224 P O
ER2 DEC06 2006-12-01, 14:37:45 GLOBEX -1 774.6000 783.6000 -2.40 -902.40 -1.21224 -455.80224 P C
ER2 DEC06 2006-12-01, 14:40:30 GLOBEX -1 774.7000 783.6000 -2.40 -892.40 -1.21224 -450.75124 O
ER2 DEC06 2006-12-01, 14:42:54 GLOBEX 1 773.9000 783.6000 -2.40 967.60 -1.21224 488.73476 P C
ER2 DEC06 2006-12-01, 14:42:54 GLOBEX 1 773.9000 783.6000 -2.40 967.60 -1.21224 488.73476 P C
Total -24.00 286.00 -12.12 144.46


in the above 5 round trips @ $4.8= $24+ 5 .1 spreads $50 = $74. on er2 it may still be cheaper than fb havnt checked.

 

[ian]

I get charged £1.70 per side by I.B for FTSE futures, is that the norm with other IB customers?

 

[dcarrigan]

I get charged £1.70 per side by I.B for FTSE futures, is that the norm with other IB customers?

think so , dont trade it myself with ib, but was told by user that there is also the .5 spread to be taken into account when comparing with sb companys.