WorldSpreads Offers (Scotland)

[Crawsthorne]

wtf is dealer referral?

Basically it is manual dealing. In practice if the price moves in your favour the trade is rejected, if it moves against you it is accepted. On top of their slippage, it makes it very difficult to make a profit since the effective spread is huge!

 

[mb_blue]

we hope that wont be a problem with us as we offer 1 point spreads on various different securities.

 

[Black Swan]

I understand that you poke above their radar around the £9/£10 per point. In my case I was averaging 150 pips per week on cable when I was put on dealer referal, but early last year there was quite a busy thread with people who had the same problem some of whom were even told that WS did not want "that kind of customer".

I was cold called recently and asked to come back but they would not take me off dealer referral so needless to say I did not go.

Such little numbers (relatively) and they got spooked, were you scalping the ar5e off them on 1 min TFs? You'd have thought, given the liquidity of cable, they wouldn't give two 5hits...
Where are you now?

 

[Black Swan]

wtf is dealer referral?

it's instant death, imagine needing to close 40 trades throughout the day at various times and the fookers won't answer the phone, or they put you on hold; they've got you listening to the fooking Carpenters whilst you're watching your profit evaporate...

 

[Technically Fundamental]

it's instant death, imagine needing to close 40 trades throughout the day at various times and the fookers won't answer the phone, or they put you on hold; they've got you listening to the fooking Carpenters whilst you're watching your profit evaporate...

Sounds like one of the best problems to have as far as trading is concerned lol.

 

[maq]

looking at the margin required to trade the FT with WS is 150 for example
with cmc it is 50
with tradefair its 30

if this is correct i'ii stick with cmc and tradefair

 

[Crawsthorne]

Such little numbers (relatively) and they got spooked, were you scalping the ar5e off them on 1 min TFs? You'd have thought, given the liquidity of cable, they wouldn't give two 5hits...
Where are you now?

Yes I use short timeframes.

I am currently with IG but waiting for futuresbetting/prospreads to launch the cash rather than future.

 

[mb_blue]

that is correct. However, with CMC there are many drawbacks.

For example, if you do 1 £/pp, although the margin is 50, you are required to deposit £150. Also, the moment you use up your margin, you are closed out despite the additional £100 left.

Basically, CMC close you out on any position the moment you hit £100.

Also, with WorldSpreads, we do still make the odd few margin calls before closing trades, a bit old fashioned, but clients do appreciate this.

Also, with stop losses in place, we do allow you to free up fuinds for you to use on other trades, again, something CMC dont do.

On top of all this, we have the offers i was mentioning earlier for scottish clients. So it does make sense to at least make use of these while they're there.

??????

looking at the margin required to trade the FT with WS is 150 for example
with cmc it is 50
with tradefair its 30

if this is correct i'ii stick with cmc and tradefair

 

[Black Swan]

I'm trying to work out which of these two issues troubles me most; that worldspreads have got so desperate that they allow such an ill informed method of 'below the line' marketing as spamming a message board with invites, or that no one is really interested in these tired offers? I suspect many SB companies will disappear over the next year or two...competiton is not always a healthy concept.

 

[Black Swan]

Yes I use short timeframes.

I am currently with IG but waiting for futuresbetting/prospreads to launch the cash rather than future.

at what point do you expect the proverbial 'tap on the shoulder' from IG?

 

[Crawsthorne]

at what point do you expect the proverbial 'tap on the shoulder' from IG?

I have no idea, but I shall be away for a couple of months soon and if prospreads have not got their act together with the cable cash when I get back, I shall either move to the future or go pure DMA.

 

[Technically Fundamental]

I'm trying to work out which of these two issues troubles me most; that worldspreads have got so desperate that they allow such an ill informed method of 'below the line' marketing as spamming a message board with invites, or that no one is really interested in these tired offers? I suspect many SB companies will disappear over the next year or two...competiton is not always a healthy concept.

At least they arent lying about who they are and trying to infiltrate

 

[mb_blue]

Thanks for that!

Hey guys, im new to trade to win but have been spread trading for years. Howveer, I really like this site and the fact that you can talk to people directly involved in the trade.

It is purely a casual thread where im just highlighting the offers. Its got nothing to do with the seniors.

Lets get down to it guys/girls. DROP ME A PERSONAL EMAIL IF YOU ARE FROM SCOTLAND AND I'LL TRY MY BEST TO SEE WHAT WE CAN OFFER YOU GUYS.....SORRY ENGLAND!!

At least they arent lying about who they are and trying to infiltrate

 

[Technically Fundamental]

Thanks for that!

Give me money in England

 

[rwb]

that is correct. However, with CMC there are many drawbacks.

For example, if you do 1 £/pp, although the margin is 50, you are required to deposit £150. Also, the moment you use up your margin, you are closed out despite the additional £100 left.

Basically, CMC close you out on any position the moment you hit £100.

Also, with WorldSpreads, we do still make the odd few margin calls before closing trades, a bit old fashioned, but clients do appreciate this.

Also, with stop losses in place, we do allow you to free up fuinds for you to use on other trades, again, something CMC dont do.

On top of all this, we have the offers i was mentioning earlier for scottish clients. So it does make sense to at least make use of these while they're there.

??????

Are you saying that if there is an SL in place for say 50 you won't ring fence the normal margin of 150 on the account. This is how many other SB companies work but I couldn't get this point clarified either from your product info or during a discussion with one of your reps.
Your margins are on the high side but if you will allow trades with the SL as effective margin that puts a different slant on things. In this event what would be your Minimum IMR for say FTSE??
thanks.

 

[Black Swan]

I have no idea, but I shall be away for a couple of months soon and if prospreads have not got their act together with the cable cash when I get back, I shall either move to the future or go pure DMA.

FXCM, 'best of both worlds', what d'ya think?

 

[Crawsthorne]

FXCM, 'best of both worlds', what d'ya think?

Quite possibly, I have not looked at them, however I would prefer a UK based solution.

I have been trialling the futures betting/ prospreads platform and I like it, but my current software has been developed (by me) using the cash and I don't really want to have to retest for the futures market. Altough back testing is important, I believe that forward testing is the real proof and so there would be a time delay in changing markets.

 

[mb_blue]

Are you saying that if there is an SL in place for say 50 you won't ring fence the normal margin of 150 on the account. This is how many other SB companies work but I couldn't get this point clarified either from your product info or during a discussion with one of your reps.
Your margins are on the high side but if you will allow trades with the SL as effective margin that puts a different slant on things. In this event what would be your Minimum IMR for say FTSE??
thanks.

hey, thanks for that.

yeh, initial imr for example if £150. However, if you had a stop loss 50 points away at a stake of £1 pp then the remaining £100 would be freed up.

Does this help???

 

[rwb]

hey, thanks for that.

yeh, initial imr for example if £150. However, if you had a stop loss 50 points away at a stake of £1 pp then the remaining £100 would be freed up.

Does this help???

Yes, but only partly. Your 'Market Information' on your website doesn't detail what your Minimum IM factor would be for any instrument. Perhaps you'd be good enough to tell me what this would be for FTSE, cable and Eur.Usd on rolling/spots.
thanks.

 

[mb_blue]

Yes, but only partly. Your 'Market Information' on your website doesn't detail what your Minimum IM factor would be for any instrument. Perhaps you'd be good enough to tell me what this would be for FTSE, cable and Eur.Usd on rolling/spots.
thanks.

its on the "market information sheet", but to answer your questions the IMF is as follows,

FTSE - £150
Cable - £200
EUR/USD - £200

Bear in mind, if you do use SL's then the remaining margin would be freed up to trade on other instruments. Hope this helps??