VDM Markets ?

It was a free account, I ran it up then blew it then ran it up. Once the drawdown was a certain level I said to myself I wanted to withdraw the money I made.

Like a stoploss, just on the account. It's still open and i'm tempted to trade it back up. However, having all these accounts open is a hassle.

Im still drunk wtf?
 
OK if you like slippage

Have been using these people recently and found that I very rarely get filled at the price I click and the fill price will always be to their advantage. At least with IG the small slippage works both ways, CS will either give the price or reject, Etrade likewise, ODL fill at the price even when it has clearly moved on (to their disadvantage) and others will requote which at least gives some option and control. All things considered if your looking for accurate fills don't expect this from VDM.

On the plus side their platform is easy and well laid out, certainly for what I do anyway. In fact their platform would do wonders for CS.
 
rwb said:
Have been using these people recently and found that I very rarely get filled at the price I click and the fill price will always be to their advantage. At least with IG the small slippage works both ways, CS will either give the price or reject, Etrade likewise, ODL fill at the price even when it has clearly moved on (to their disadvantage) and others will requote which at least gives some option and control. All things considered if your looking for accurate fills don't expect this from VDM.

On the plus side their platform is easy and well laid out, certainly for what I do anyway. In fact their platform would do wonders for CS.
Click to expand...
This is strange, I use the Swedish outfit, Iflex Markets and I have not been slipped. It should be the same as the servers are located in Sweden. Execution are fast and on the spot, at least trading the indices, what are you trading?
 
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Hi Gle, agree about the speed of the fills, they are fast. With them I've been mainly trading cable, euro and ftse. ftse isn't too bad but cable is particularly bad and 3 or 4 pips slippage when other platforms are showing little or no movement in price at the time (i have at least 4 platforms open and visible all the time). Will look at their pricing again later when the dow opens.

gle101 said:
This is strange, I use the Swedish outfit, Iflex Markets and I have not been slipped. It should be the same as the servers are located in Sweden. Execution are fast and on the spot, at least trading the indicies, what are you trading?
Click to expand...
 
rwb said:
Hi Gle, agree about the speed of the fills, they are fast. With them I've been mainly trading cable, euro and ftse. ftse isn't too bad but cable is particularly bad and 3 or 4 pips slippage when other platforms are showing little or no movement in price at the time (i have at least 4 platforms open and visible all the time). Will look at their pricing again later when the dow opens.
Click to expand...
Hi rwb, I very seldom trade FX, so I can't tell on these instruments. The Dow for instance, exellent execution, in fact when I have had problem with slow execution and re-quotes with other SB, these guys has always performed well during a volatile market. I am not saying this because they are located in Sweden.:)
 
Just noticed that money paid to VDM actually goes to a Swedish account, which seems odd for a UK FSA regulated company.
 
Phil Mibbutz said:
Just noticed that money paid to VDM actually goes to a Swedish account, which seems odd for a UK FSA regulated company.
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Yes it could be the case as it is a joint venture operation. I have been asking about the security and the accounts are "ring fenced" in Sweden. About the FSA, I would probably personal prefer the FI (FSA in Sweden).:)
 
gle101 said:
Yes it could be the case as it is a joint venture operation. I have been asking about the security and the accounts are "ring fenced" in Sweden. About the FSA, I would probably personal prefer the FI (FSA in Sweden).:)
Click to expand...

If you're in Sweden, does that mean your money goes to GB?:)
 
Hi Guys,

Please avoid this company for the time being. My colleague just rang them up to withdraw his money and they refused to issue the full withdrawal as some of the money was part of the bonus they offer. They have given him a few conflicting reasons. He is currently dealing with the compliance office and will eventually report them to the FSA if problems arise.
 
I just asked him to forward me the T&C. They have changed to when i signed up. He signed up to the following.

3. The Match Bonus cannot be withdrawn from the account as cash, unless you have placed more than 10 opening trades within 3 months from the day the Match Bonus is credited into your account.
 
He has fulfilled the above conditions by far over the course of a month. They 1st said no because they said T&C have changed. When he said he signed up to different T&C, another guy called up and said that "VDM Global Markets Ltd reserves the right to withhold payment of any profits made by a client using this Offer if we believe that the spirit of this Offer is being abused".

What the hell does that mean! He traded with them for over a month with over a hundred trades!
 
Guys we need to be careful with this small firm. I will be holding out until i find out what happens to my friend. I suggest you do the same.

I will keep you updated with his situation in due course.
 
jillsean said:
I just asked him to forward me the T&C. They have changed to when i signed up. He signed up to the following.

3. The Match Bonus cannot be withdrawn from the account as cash, unless you have placed more than 10 opening trades within 3 months from the day the Match Bonus is credited into your account.
Click to expand...
Sounds pretty fair to me. There are people who sign up only for the bonus, and try to get out immediately after fulfilling a certain number of trades, this in a very short period of time. I wonder, who should be branded?
 
gle101 said:
Sounds pretty fair to me. There are people who sign up only for the bonus, and try to get out immediately after fulfilling a certain number of trades, this in a very short period of time. I wonder, who should be branded?
Click to expand...

If he has fulfilled the T&C of the offer he should be paid the bonus even if he did only sign up to get it.

An offer made under English law cannot be changed unilaterally by one party.

It's pretty clear that this guy only signed up to get the bonus, and probably made a load of trades which fulfilled the letter, but not the spirit of the offer. Unfortunately that does not make VDM's obligations any less valid. If they didn't want carpetbaggers, they shouldn't have offered such a daft promotion.
 
ns1000 said:
If he has fulfilled the T&C of the offer he should be paid the bonus even if he did only sign up to get it.

An offer made under English law cannot be changed unilaterally by one party.

It's pretty clear that this guy only signed up to get the bonus, and probably made a load of trades which fulfilled the letter, but not the spirit of the offer. Unfortunately that does not make VDM's obligations any less valid. If they didn't want carpetbaggers, they shouldn't have offered such a daft promotion.
Click to expand...
Sorry, but I don't agree. He signed up only for the bonus. A lot of people talk a lot about low morals on part of the SB firms. I belive we have some obligations as traders to honour high values, before screaming out load in a case like this.
 
gle101 said:
Sorry, but I don't agree. He signed up only for the bonus. A lot of people talk a lot about low morals on part of the SB firms. I belive we have some obligations as traders to honour high values, before screaming out load in a case like this.
Click to expand...

Your confusing legal and moral obligations.

A regulated company has to honour legal obligations.

I don't dispute that it's not cricket to sign up just for the bonus, but it's still a contract.
 
Thats not true. He is a very serious trader. He has many accounts with different SB firms but has never encountered any problems in withdrawing funds. He simply wanted his original money deposited. As he made loses, they claim the money being withdrawn is bonus money. Whatever!

I certainly on the other hand, along with my friend was definitely thinking of opening an account with them due to the bonus offered. Will be avoiding them for a while, thats for sure.

VDM clearly have no values whatsoever. They even have a clause stating that they have the right to make payment of YOUR profits if they wish in their t&c. Wow.

I have also found out that they rent a small office from Regus.com
 
Ok lets get things right.
The Bonus is credited to the account after 3 round trades(open close position)
The bonus can only be withdrawn after 3 months from opening account date, In addition a further 10 trades have to also be completed.
They may be a small company but the fills are very quick and the customer service is excellent.

I am not affiliated or connected with this company in any way I have simply received good service from them
 
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