Worldspreads upgraded!

[gle101]

yeah agree, that client gle101 **** him, whats that matter, nice one mate hear where your comming from.

I did give you my viewpoint on this matter (post #495), but for some reason or the other you refused to accept that post as an answer.

 

[laptop1]

What about me. I dont know what its like to trade on instant execution. I'm always on referred to dealer. I phoned WS. I asked can I be taken off referred to dealer. some guy at WS said NO. dew to your past trading with WS you must can deal with us on referred to dealer.

I can never trade 25 quid a point with them again through me short term trading. The only way I can make money is through my broker trading the underline market. But I am currently using WS testing a new methods on 1 quid a point still on referral lol.

I cant trade like Jesse but I now what he must have felt like when trading in the Bucket shops in good old 1920s. I though the industry would have come on a little. but they say, we are behind the USA. what they where doing in the 1920s we are playing catch up.

 

[FXSCALPER2]

Again, hang about! How is 10 minutes a provision for trading with WS. Are you not filling a large gap over some sour grapes! For once 10 seconds becomes 10 mins over a figure. Traders are being given wrong info on this thread. Spin of lies! For all those that want to take down a decent 1 pip provider, best of luck.

Marvin,

There was a time I thought you were a PR man on the wrong job. I now think you are, like 'fxwinner' said elsewhere, a pillock. What is more, the people who run WS must also be a bunch of plonkers. How are you going to deliver instant execution, 1 pip spread and allow scalping on GBPUSD? Get off it and get real. Simon of Capital Spreads says the following:

...although the spread argument does not hold too well in currencies as we quote 3 pips and the 'real market' is generally 2 or 3 pips as well). If we trigger an order, say, to sell £150 a point at 1.9630 then the underlying market will be that price as well (1.9630-1.9633 or maybe 1.9631-33 or 1.9630-32) and we must pay commissions on our trades with the market makers.

There is a common misunderstanding that we can just pick up currency deals at the bid or sell them at the offer. We can't, we must go into the market like everyone else and pay the offer or hit the bids.

The point about this is that we do not make enough money out of these deals (maybe 1/2 pip a round trip after costs if we are lucky) that we can just absorb major slips in our fills.

Get it? He is saying they would make 1/2 a pip, if they are lucky, and that is with a 3 PIP SPREAD! I have been saying this for a while now. YOU CANNOT OFFER INSTANT EXECUTION, 1 PIP SPREADS ON GBPUSD (USDJPY,EURUSD, AUDUSD) AND ALLOW SCALPING. Are you guys really that stupid?

 

[Legion]

I did give you my viewpoint on this matter (post #495), but for some reason or the other you refused to accept that post as an answer.

Yeah course I accept it what makes you think I dont ? its up to you whether you choose to respond or not, you advocate in depth discussion on worldspreads customer experiences but you seem VERY selective, thats all mate.

why cant you accept that some people want to discuss detail on very serious issues and may respond with more than 1 post ? if you have nothing further to ad stop posting on it. Ignore it. Simple.

Im bringing up, moral, and legal issues , terrible customer experience ,you want to talk about it ?

 

[laptop1]

Yeah course I accept it what makes you think I dont ? its up to you whether you choose to respond or not, you advocate in depth discussion on worldspreads customer experiences but you seem VERY selective, thats all mate.

why cant you accept that some people want to discuss detail on very serious issues and may respond with more than 1 post ? if you have nothing further to ad stop posting on it. Ignore it. Simple.

Im bringing up, moral, and legal issues , terrible customer experience ,you want to talk about it ?

legion

I agree with you. I have also experience this from gle101. He chose to ignore a lot of my post when I had issues with WS. But he was happy reply to minor points raised..

 

[gle101]

Yeah course I accept it what makes you think I dont ? its up to you whether you choose to respond or not, you advocate in depth discussion on worldspreads customer experiences but you seem VERY selective, thats all mate.

why cant you accept that some people want to discuss detail on very serious issues and may respond with more than 1 post ? if you have nothing further to ad stop posting on it. Ignore it. Simple.

Im bringing up, moral, and legal issues , terrible customer experience ,you want to talk about it ?

Selective, didn't I reply to you giving you my viewpoint on this matter? There is way too little information on this 10 minutes hold at this stage, at least for me to draw any specific conclusions. If and when there is more information available I will be interested in discussing it further.

 

[gle101]

legion

I agree with you. I have also experience this from gle101. He chose to ignore a lot of my post when I had issues with WS. But he was happy reply to minor points raised..

This is simply not correct Laptop. I have answered your issue in different aspects several times on this thread. The thing is when you bring up the same questions over and over again, I don't feel inclined to answer every time. This is a tactic that you apply. If the answer you have gotten from me doesn't altogether fall to your liking, you take the easy way out, and say I have not replied at all. I respect your replies on my postings, except when the tone is rude or accusing. I expect the same respect from you. In fact I have even been accused by some for posting too much on this thread.

 

[FTSE in mouth]

This thread gets my vote for 'Most Schizophrenic Thread' on T2W . It all goes so swimmingly for a few days and then goes ballistic. Keep up the good work all.

 

[Legion]

Selective, didn't I reply to you giving you my viewpoint on this matter? There is way too little information on this 10 minutes hold at this stage, at least for me to draw any specific conclusions. If and when there is more information available I will be interested in discussing it further.

YES gle101 you did, after proding and why you didnt reply to the customer who posted that in the first place , I mean for you to perhaps "glance the other way" when this worldspreads customer says he has been told he can trade but has to hold for 10 minutes or so is shoddy behaviour from your goodself, thats feedback hardcore comming at you as you requested and you turn your cheek & step over the road , how many in numbers does it take for a yes man to say no ? that I wonder at times.

I bid you good evening squire and offer you 2 of these.

Ta Ta
H.

 

[gle101]

YES gle101 you did, after proding and why you didnt reply to the customer who posted that in the first place , I mean for you to perhaps "glance the other way" when this worldspreads customer says he has been told he can trade but has to hold for 10 minutes or so is shoddy behaviour from your goodself, thats feedback hardcore comming at you as you requested and you turn your cheek & step over the road , how many in numbers does it take for a yes man to say no ? that I wonder at times.

I bid you good evening squire and offer you 2 of these.

Ta Ta
H.

Have a look at post #476, where I first commented on the 10 minutes hold. Quite a lot earlier than you did.

 

[Legion]

What did you tell that customer? regarding his experience and the 10 minute hold Proviso?

 

[gle101]

What did you tell that customer? regarding his experience and the 10 minute hold Proviso?

Legion, I did post a comment on this very matter very early, while you said I did not react at all. Like you, I am a member of this thread, sometimes I reply early, and sometimes a little bit later, I don't see any conflict in this.

 

[MarvinS]

Mr. Marvin, please correct me if i am wrong.


shorting, say euro against $, has disadvantage with worldspread. 1 pip spread sound good but if you keep it on rolling for few days/weeks they keep on adding 1 point/day till closed. i use cmc for shorting currency. (depending on pair in concern)

Mr Top Trader - If you go long GBP £1 per point you pay £1.15 if you go short £1 you pay £1. I think that is the way it goes. It all depends on the pairs you are trading on funding! Please ask me...

 

[top trader]

thanks marvin for your reply,

i receive interest on short euro vs. $ with other sb's.

 

[gle101]

Marvin,

There was a time I thought you were a PR man on the wrong job. I now think you are, like 'fxwinner' said elsewhere, a pillock. What is more, the people who run WS must also be a bunch of plonkers. How are you going to deliver instant execution, 1 pip spread and allow scalping on GBPUSD? Get off it and get real. Simon of Capital Spreads says the following:

...although the spread argument does not hold too well in currencies as we quote 3 pips and the 'real market' is generally 2 or 3 pips as well). If we trigger an order, say, to sell £150 a point at 1.9630 then the underlying market will be that price as well (1.9630-1.9633 or maybe 1.9631-33 or 1.9630-32) and we must pay commissions on our trades with the market makers.

There is a common misunderstanding that we can just pick up currency deals at the bid or sell them at the offer. We can't, we must go into the market like everyone else and pay the offer or hit the bids.

The point about this is that we do not make enough money out of these deals (maybe 1/2 pip a round trip after costs if we are lucky) that we can just absorb major slips in our fills.

Get it? He is saying they would make 1/2 a pip, if they are lucky, and that is with a 3 PIP SPREAD! I have been saying this for a while now. YOU CANNOT OFFER INSTANT EXECUTION, 1 PIP SPREADS ON GBPUSD (USDJPY,EURUSD, AUDUSD) AND ALLOW SCALPING. Are you guys really that stupid?

Well FXSCALPER2, Marvin has been on this job quite a lot of years, and from what I understand done a great deal in bringing up Worldspreads to the level they are today.

Anyway, finally I get some feedback on this matter. I have been pointing out many times on this thread that Worldspreads 1 point spread is something unique in this industry, this together with instant execution makes it hard to beat. However as you are saying it is a very tough job indeed, to keep this model functioning business wise. Even Simon from Capitalspreads has been commenting on the fact, that Worldspreads has dared to go into this new territory. I guess the system needs constant monitoring and improving, in order to keep the service going. There is simply no room for error, such as lagging quotes. When I am talking about lagging quotes this is not in general terms of SB's. A very tiny delay of the feed can cause a real unbalance in the system due to the 1 point spread. We will see if WS can keep up this offer. I hope so because, I am sure you all agree, 1 point spread and instant execution is interesting from a traders' point of view.

In order to maintain the service there must ultimately be a win-win situation, otherwise it won't be able to stand the test of time. I have noticed that some clients on this thread (I am one among them) have been put on intervention by the dealer. However, the message about intervention by a dealer, usually means that you end up with the same price as you asked for. You don't get a re-quote every time. Apparently WS needs to work on the system or there is some other reason for this, that they need to address. Hopefully this is a temporary solution by Worldspreads. Maybe Marvin will come forward and address this issue. Anyway, when this kind of thing happens, one has to take a step back and decide, whether to continue trading with WS or to take a break for a while. You can take any SB and there is an ongoing quest, that one as a trader has to deal with constantly, as it is with the financial market in general. For some reason or the other when this happens with WS, there is an uproar. I think I know why, we all want to be able to continue trading under such good conditions, and when this harmony in some way is disrupted, we get alarmed.

 

[FXSCALPER2]

Well FXSCALPER2, Marvin has been on this job quite a lot of years, and from what I understand done a great deal in bringing up Worldspreads to the level they are today.

Anyway, finally I get some feedback on this matter. I have been pointing out many times on this thread that Worldspreads 1 point spread is something unique in this industry, this together with instant execution makes it hard to beat. However as you are saying it is a very tough job indeed, to keep this model functioning business wise. Even Simon from Capitalspreads has been commenting on the fact, that Worldspreads has dared to go into this new territory. I guess the system needs constant monitoring and improving, in order to keep the service going. There is simply no room for error, such as lagging quotes. When I am talking about lagging quotes this is not in general terms of SB's. A very tiny delay of the feed can cause a real unbalance in the system due to the 1 point spread. We will see if WS can keep up this offer. I hope so because, I am sure you all agree, 1 point spread and instant execution is interesting from a traders' point of view.

In order to maintain the service there must ultimately be a win-win situation, otherwise it won't be able to stand the test of time. I have noticed that some clients on this thread (I am one among them) have been put on intervention by the dealer. However, the message about intervention by a dealer, usually means that you end up with the same price as you asked for. You don't get a re-quote every time. Apparently WS needs to work on the system or there is some other reason for this, that they need to address. Hopefully this is a temporary solution by Worldspreads. Maybe Marvin will come forward and address this issue. Anyway, when this kind of thing happens, one has to take a step back and decide, whether to continue trading with WS or to take a break for a while. You can take any SB and there is an ongoing quest, that one as a trader has to deal with constantly, as it is with the financial market in general. For some reason or the other when this happens with WS, there is an uproar. I think I know why, we all want to be able to continue trading under such good conditions, and when this harmony in some way is disrupted, we get alarmed.

You don't really understand what I am saying, do you?

 

[gle101]

You don't really understand what I am saying, do you?

Well FXSCALPER2, you got your point of view, I respect that, just as I am entitled to have my own point of view.

 

[FXSCALPER2]

Well FXSCALPER2, you got your point of view, I respect that, just as I am entitled to have my own point of view.

You have to differentiate between fact and opinion, buddy.

1- Fact: in the real market, WS, or anybody else, cannot get less than 2-3 pips, including commission on GBPUSD

2- Fact: WS are offering 1 pip spread

3- Fact: they are promising instant execution

4- Fact: they are saying they allow scalping

5- Fact: if they allow 1 pip spread, scalping and instant execution, they will lose every time clients win

Now, use some basic logic and see if you really think WS can afford to provide 1 pip spread, instant execution and allow scalping. See why this ain't gonna work? What you are missing is the difference between wishing to deliver the service and actually being able to deliver it. They will go broke unless they refer regular winners to a dealer. If you can't see that....

Don't keep on saying 'points of view'. The business model WS were hoping to rely on depends on them having enough losers. This is a fact. How else are they going to make any money, or even stay in business?

 

[MarvinS]

thanks marvin for your reply,

i receive interest on short euro vs. $ with other sb's.

On the Euro/USD the funding charge is £1 short you are charged 9p per overnight and charged £1.35 for going long. These levels vary with the levels of the underlying product...

 

[gle101]

You have to differentiate between fact and opinion, buddy.

1- Fact: in the real market, WS, or anybody else, cannot get less than 2-3 pips, including commission on GBPUSD

2- Fact: WS are offering 1 pip spread

3- Fact: they are promising instant execution

4- Fact: they are saying they allow scalping

5- Fact: if they allow 1 pip spread, scalping and instant execution, they will lose every time clients win

Now, use some basic logic and see if you really think WS can afford to provide 1 pip spread, instant execution and allow scalping. See why this ain't gonna work? What you are missing is the difference between wishing to deliver the service and actually being able to deliver it. They will go broke unless they refer regular winners to a dealer. If you can't see that....

Don't keep on saying 'points of view'. The business model WS were hoping to rely on depends on them having enough losers. This is a fact. How else are they going to make any money, or even stay in business?

Take Oanda for example, they have 1.5 point spread, instant execution. Okay during news time they widen their spread. They are one of the biggest Forex Market Makers in the world. How can they manage to provide this service? You are saying it is impossible with this kind of spread, they don't think so. Of course I understand, as I pointed out in my post, 1 point spread is a tough task, but is it impossible?