Am I the only one on here finding this hilarious?
A great number of postings by a great number of people on here are always keen to give the impression that the small home trader can't make money spread betting as the providers have the game so strongly rigged in their favour, and it's a licence to print money for them.
F#cks that theory, doesn't it?
A great number of postings by a great number of people on here are always keen to give the impression that the small home trader can't make money spread betting as the providers have the game so strongly rigged in their favour, and it's a licence to print money for them.
F#cks that theory, doesn't it?
archerwealth
Newbie
- Messages
- 4
- Likes
- 0
Am I the only one on here finding this hilarious?
A great number of postings by a great number of people on here are always keen to give the impression that the small home trader can't make money spread betting as the providers have the game so strongly rigged in their favour, and it's a licence to print money for them.
F#cks that theory, doesn't it?
You are correct. Althogh I am still young (20), I believe people who just complain all the time and believe in those sort of things are just terrible traders, that dont know what they are doing. I was on worldspreds and still waiting on the money, but meanwhile I already withdrawed my first profits with etx and lets just say, they are more than satisfying :cheesy:
archerwealth
Newbie
- Messages
- 4
- Likes
- 0
I received my cheque from FSCS on friday, 7.9.
capitalspreads
Experienced member
- Messages
- 1,452
- Likes
- 79
And guess who will be paying for all those MF Global/Worldspreads FSCS cheques ?
Capital Spreads / IG / City Index / CMC etc.
Can you imagine if your company had to pay the debts of any competitor that went out of business?
The Regulators in Europe have created an environment that actually encourages retail clients to go looking for the most outrageous returns claim as their money is protected. And they only do so because the well run and honest companies have to pick up the bill.
Effectively a true 'crooks charter'.
Simon
Capital Spreads / IG / City Index / CMC etc.
Can you imagine if your company had to pay the debts of any competitor that went out of business?
The Regulators in Europe have created an environment that actually encourages retail clients to go looking for the most outrageous returns claim as their money is protected. And they only do so because the well run and honest companies have to pick up the bill.
Effectively a true 'crooks charter'.
Simon
R.Charnock
Well-known member
- Messages
- 400
- Likes
- 124
I agree with what you say, but everyone suffers to an extent when any business goes bust owing money. You'd think these 'regulators' would have been able to spot that WS was trying to do the impossible with its zero spreads long before the inevitable happened. Still, it was the same with the banks (and countries), so maybe that's naive.
capitalspreads
Experienced member
- Messages
- 1,452
- Likes
- 79
actually in real life only people doing business with a company going bust are affected. the regulators have created a system where to put it into other terms.
the financial companies are working in an environment akin to the example below
If you were running a pub and the next door pub was undercutting your prices and taking your business. A year later the other pub goes bust owing the VAT man 200k (this is obviously how he has been undercutting you) then by the rules we are running under you would now be liable for that debt !
the comparison versus the banks is not really apposite because the FSCS actually sends us the bills and these must be paid immediately out of our cash (therefore harming us directly). the government has just printed vast sums for QE and bank support, This does not actually damage the individual to a massive degree.
simon
the financial companies are working in an environment akin to the example below
If you were running a pub and the next door pub was undercutting your prices and taking your business. A year later the other pub goes bust owing the VAT man 200k (this is obviously how he has been undercutting you) then by the rules we are running under you would now be liable for that debt !
the comparison versus the banks is not really apposite because the FSCS actually sends us the bills and these must be paid immediately out of our cash (therefore harming us directly). the government has just printed vast sums for QE and bank support, This does not actually damage the individual to a massive degree.
simon
N
neil324
Isn't that down to regulation and then the FSA.
The FSCS is there to provide confidence to markets and a safety net to customers, not needed as much pre 2008, but imagine parking £50K somewhere now without it.
Can you not just opt out of FSA membership like Icesave Bank did, thus avoiding the levy you mention.
Last edited by a moderator:
So why are none of you campaigning against all the crooks in the industry? Is it because youre all at it and just havnt been caught yet?
capitalspreads
Experienced member
- Messages
- 1,452
- Likes
- 79
how do u campaign against a crook?
please tell me
please tell me
Have you ever heard of Mike Baghdady?
counter_violent
Legendary member
- Messages
- 12,669
- Likes
- 3,787
I beg to differ.
Between govt and the banks they will have us all in the poor house.
It's time that people understood they all go around spending "other peoples money" and what's worse, future generations money.
Bunch of crooks C_V, been trying to tell you that for ages.
counter_violent
Legendary member
- Messages
- 12,669
- Likes
- 3,787
Well be careful what you say, don't want the buggers sending in solicitors letters or anything.
capitalspreads
Experienced member
- Messages
- 1,452
- Likes
- 79
i happen to agree that QE is (in the end) self defeating and appears to be used along the lines of "i cannot think of anything else to do.. so why not"
but on the other hand i might be wrong.
The buying of bank stock though was pretty much forced on the BOE and government at the time as a failure of the UK's banks would have left absolute disaster. At least the state actually got something for their money. it is a pity they have then spent the last four/five years driving down its value by almost constant attacks on the financial sector.
simon
but on the other hand i might be wrong.
The buying of bank stock though was pretty much forced on the BOE and government at the time as a failure of the UK's banks would have left absolute disaster. At least the state actually got something for their money. it is a pity they have then spent the last four/five years driving down its value by almost constant attacks on the financial sector.
simon
QE1 was to put out the fire and prevent a meltdown of the financial system = SUCCESS
QE2 was to drive down borrowing cost in order to stimulate economy = FAILED (just drove up asset prices and improved banks balance sheets..which was not passed onto the consumers/small business)
QE3 same as above = Wont help the underlying economy but any additional liquidity should keep assets from falling.
What happened to old fashoined infrastructure spending - use the money to build sh*t and create jobs - instead of bailing out bankrupt banks, let them fail and send any corrupt operators to jail.
capitalspreads
Experienced member
- Messages
- 1,452
- Likes
- 79
pboyle
Mike Baghdady?
he is not regulated i believe (nor is his company Training Traders) at least not under those names with the FSA...... so he can say or do as he pleases ... there are any number of 'advisors' out there who trade on the credulity of the get rich quick brigade
He is not breaking any laws .. whereas if i (with twenty nine years of direct survival in the financial markets) said 'Buy Pork Bellies' i could be fined by the FSA (and probably banned as well). This is because i am regulated but only to operate within the my strict permissions .. which do not include advisory.
i.e if i was not regulated i could print or say whatever i liked......
its a funny old world
Simon
Mike Baghdady?
he is not regulated i believe (nor is his company Training Traders) at least not under those names with the FSA...... so he can say or do as he pleases ... there are any number of 'advisors' out there who trade on the credulity of the get rich quick brigade
He is not breaking any laws .. whereas if i (with twenty nine years of direct survival in the financial markets) said 'Buy Pork Bellies' i could be fined by the FSA (and probably banned as well). This is because i am regulated but only to operate within the my strict permissions .. which do not include advisory.
i.e if i was not regulated i could print or say whatever i liked......
its a funny old world
Simon
