Worldspreads upgraded!

[MarvinS]

Has anyone received any larger or gappy prices in this weeks rather illiquid market?

 

[gle101]

Has anyone received any larger or gappy prices in this weeks rather illiquid market?

Hi Marvin,

Yes today I did get a price that was way too low on the Wall st. Rolling future, however I didn't trade on it.

No Christmas gift from Worldspreads this year (I didn't deliver either, ha ha). Hopefully it will be a New Years promise instead.

Marvin, not many days left for you at WS. I guess you are getting ready for an interesting New Year.

 

[gle101]

An interesting year ahead!

I hope this year will be an interesting and profitable year for all traders at this forum.

So what's up guys, any interesting information you would like to share about live trading at Worldspreads? We don't have Marvin to look forward to answering our posts anymore. I do hope WS has appointed a new marketing representative who will step forward and start posting on this thread.

 

[karmit]

Which ones better? TwoWayFutures or Worldspreads - if I'm looking to trade DOW
(mostly) and the Cable?

In terms of:
1. Spread
2. Stability of platform
3. Min deposit required (don't like the ones wanting 2K+ GBP to start with)
4. Ease of funds transfer (deposit / withdrawal)
5. FSA regulated?
6. Tax implications on TWF? (or is it considered as betting anyway?)

Cheers,
Karmit

 

[henry766]

surely ib are around half the price of futures betting?( p.s. arn't two way just salesmen( more or less) for other brokers?

 

[karmit]

surely ib are around half the price of futures betting?( p.s. arn't two way just salesmen( more or less) for other brokers?

The last time I looked at IB (couple of years ago), it was quite tough to xfr funds in and out from a GBP account in UK.. has that changed?

Also its not tax free is it? as its not under "betting laws"...

 

[Jack o'Clubs]

Which ones better? TwoWayFutures or Worldspreads - if I'm looking to trade DOW
(mostly) and the Cable? ...

3. Min deposit required (don't like the ones wanting 2K+ GBP to start with)...

Cheers,
Karmit

If this is a problem Karmit, then TWF - or futures generally - is not for you, because you'll be betting in too small size for the underlying contracts - CBOT's initial margin for the Dow mini is about $2.5k.

As per your other comment getting funds in and out of IB from a UK bank a/c is pretty straightforward.

 

[JTrader]

Hi

I've been impressed by WorldSpreads so far, but over the last few weeks have noticed an increasing frequency of occassions when WS forex quotes are moving further out of line with the bid price of my spot forex chart datafeed.

For example, previously it was very uncommon for the WS ask price to be more than 2-3 pips maximum away from my charts datafeed price. They kept in sync. with each other very nicely, and as my chart price moved, the WS quote moved in sync.
Increasibly however, there is a 4-pip difference between my charts bid price and the WS ask price. So if my chart is at 1.2964, the WS offer might be at 1.2968.
This makes trading a bit trickier and more worrying.

It is always the case that the WS ask price might be +4p max above my charts bid price. It is vber rare for the WS quote/bid price to be lower than my charts bid price.

The +4p does seem to occur more in quicker market conditions, but does happpen at other times also.

Of course, it is difficult to say whether a price bias is actually in place with spot forex, as there is no central price, as is the case with instruments that trade obly on one exchange such as CME or CBOT.

Is anyone else noticing this?

Thanks.

 

[JTrader]

Hi

I've been impressed by WorldSpreads so far, but over the last few weeks have noticed an increasing frequency of occassions when WS forex quotes are moving further out of line with the bid price of my spot forex chart datafeed.

For example, previously it was very uncommon for the WS ask price to be more than 2-3 pips maximum away from my charts datafeed price. They kept in sync. with each other very nicely, and as my chart price moved, the WS quote moved in sync.
Increasibly however, there is a 4-pip difference between my charts bid price and the WS ask price. So if my chart is at 1.2964, the WS offer might be at 1.2968.
This makes trading a bit trickier and more worrying.

It is always the case that the WS ask price might be +4p max above my charts bid price. It is vber rare for the WS quote/bid price to be lower than my charts bid price.

The +4p does seem to occur more in quicker market conditions, but does happpen at other times also.

Of course, it is difficult to say whether a price bias is actually in place with spot forex, as there is no central price, as is the case with instruments that trade obly on one exchange such as CME or CBOT.

Is anyone else noticing this?

Thanks.

All of this can work to your advantage, or it can not make a difference, or it can make your trade outcomes less profitable than they could have been.

However, albeit with a 1-pip spread, i am much more reluctant to look for a reversal/go long, when my chart bid price is 1.2962, and the WS ask price is 1.2966.

Over the last few days, this +4-pip difference has also been frequently occurring during relatively quiet market periods.

This hasn't overall had a negative impact on my trade results so far.
However, it'd be nice to have a hart price and broker price that match more closely all of the time - which is a reason to trade with twowayfutures i suppose, but I'd rather be trading spot forex.

As mentioned, i cant't complain too much because so far this +4p difference hasn't made me less profitable than I should have been, based purely on chart entry and exit prices. But it does become an additional factor to consider/fill your head with when trading.

 

[gle101]

Hi

I've been impressed by WorldSpreads so far, but over the last few weeks have noticed an increasing frequency of occassions when WS forex quotes are moving further out of line with the bid price of my spot forex chart datafeed.

For example, previously it was very uncommon for the WS ask price to be more than 2-3 pips maximum away from my charts datafeed price. They kept in sync. with each other very nicely, and as my chart price moved, the WS quote moved in sync.
Increasibly however, there is a 4-pip difference between my charts bid price and the WS ask price. So if my chart is at 1.2964, the WS offer might be at 1.2968.
This makes trading a bit trickier and more worrying.

It is always the case that the WS ask price might be +4p max above my charts bid price. It is vber rare for the WS quote/bid price to be lower than my charts bid price.

The +4p does seem to occur more in quicker market conditions, but does happpen at other times also.

Of course, it is difficult to say whether a price bias is actually in place with spot forex, as there is no central price, as is the case with instruments that trade obly on one exchange such as CME or CBOT.

Is anyone else noticing this?

Thanks.

Not really, I traded the EUR/USD the whole day yesterday and couldn't spot that kind of difference that you are speaking of. I also use the cash spot as an instrument to follow the WS EUR/USD. At times there is a difference of 2 pips in a very volatile market and that has to do with the update of the quotes. With a 1 point spread I don't think it is possible for WS to maneuver this to their advantage.

 

[JTrader]

Not really, I traded the EUR/USD the whole day yesterday and couldn't spot that kind of difference that you are speaking of. I also use the cash spot as an instrument to follow the WS EUR/USD. At times there is a difference of 2 pips in a very volatile market and that has to do with the update of the quotes. With a 1 point spread I don't think it is possible for WS to maneuver this to their advantage.

Thanks gle

what chart datafeed are you comparing WS prices to?

I'm using TS8 which uses Gain Capital spot forex data.

WS could use this to their advantage if there was a noticable tendency to switch such a "bias" from one side to the other of the TS chart bid price. However, as mentioned, the WS bid is + not minus 2-3 pips from the TS chart bid price.

Also, the two prices seemed to move much closer in sync. prior to the last two weeks. i.e. when one price updated, the other price also updated in the same direction.

 

[Legion]

Well as bookies say the bookies price may not actually reflect the underlying, which brings in the whole point re certain clients taking advantage of bookies quotes a situation whereby the bookie wants the cake and to eat it too.

can you not get the same feed as the bookies use? or is it a hybrid data they meld to balance their bookies and clients positions or not etc?

whose data is it anyway?

 

[gle101]

Thanks gle

what chart datafeed are you comparing WS prices to?

I'm using TS8 which uses Gain Capital spot forex data.

WS could use this to their advantage if there was a noticable tendency to switch such a "bias" from one side to the other of the TS chart bid price. However, as mentioned, the WS bid is + not minus 2-3 pips from the TS chart bid price.

Also, the two prices seemed to move much closer in sync. prior to the last two weeks. i.e. when one price updated, the other price also updated in the same direction.

I am using IB, Idealpro Cash FX EUR/USD.

 

[JTrader]

Well as bookies say the bookies price may not actually reflect the underlying, which brings in the whole point re certain clients taking advantage of bookies quotes a situation whereby the bookie wants the cake and to eat it too.

can you not get the same feed as the bookies use? or is it a hybrid data they meld to balance their bookies and clients positions or not etc?

whose data is it anyway?

WS told me that their EURUSD data comes from Bloomberg and Reutuers. They say that their EURUSD quote is basically a result of when bloomberg and Reuters update their quotes/data.

Basically, (as i understand it) whenever either the Bloomberg or Reuters EURUSD trading platform updates its best bid or ask price, WS then update their EURUSD spread.

 

[gle101]

Thanks.

What are these prices based on then? - Bloomberg, Reuters, EBS, or some other interbank platform?

I actually don't know. I just have been observing that the WS feed follows this data feed almost to the point.

 

[klw]

Mini Dow went down last night and the World Spread price froze on the screen. I had opened a long at the time and phoned them to close it, they said that the Reuters feed was down.

Would it make a difference as to whose feed they used ? I am not familiar with how a spread bet company quotes thier prices and would be interested.

 

[karmit]

Hi

I've been impressed by WorldSpreads so far, but over the last few weeks have noticed an increasing frequency of occassions when WS forex quotes are moving further out of line with the bid price of my spot forex chart datafeed.

For example, previously it was very uncommon for the WS ask price to be more than 2-3 pips maximum away from my charts datafeed price. They kept in sync. with each other very nicely, and as my chart price moved, the WS quote moved in sync.
Increasibly however, there is a 4-pip difference between my charts bid price and the WS ask price. So if my chart is at 1.2964, the WS offer might be at 1.2968.
This makes trading a bit trickier and more worrying.

It is always the case that the WS ask price might be +4p max above my charts bid price. It is vber rare for the WS quote/bid price to be lower than my charts bid price.

The +4p does seem to occur more in quicker market conditions, but does happpen at other times also.

Of course, it is difficult to say whether a price bias is actually in place with spot forex, as there is no central price, as is the case with instruments that trade obly on one exchange such as CME or CBOT.

Is anyone else noticing this?

Thanks.

What about cmcmarkets? Have been hearing more good things about them on this board..

 

[JTrader]

What about cmcmarkets? Have been hearing more good things about them on this board..

I don't know, its a while since i used CMC.

WS = 1 pip spread 0800-1600, CMC = 2 pip spread.
WS have been good so far overall, with better customer service than CMC had.

 

[Jack o'Clubs]

Mini Dow went down last night and the World Spread price froze on the screen. I had opened a long at the time and phoned them to close it, they said that the Reuters feed was down.

Would it make a difference as to whose feed they used ? I am not familiar with how a spread bet company quotes thier prices and would be interested.

If you mean at just gone 7pm yesterday, that was a problem at the exchange - eCBOT went down, as it has just done again

 

[MarvinS]

Thanks.

What are these prices based on then? - Bloomberg, Reuters, EBS, or some other interbank platform?

A mixture of all three and somemore! I heard IFX have a great FX feed. Not much lag in my prices even from Hong Kong. I suppose a 50 meg line helps.