Worldspreads upgraded!

[Phil Mibbutz]

<<WS have not tried to significantly reduce traders profits in certain markets,>>

How does doubling the spread not reduce traders' profits?

 

[JTrader]

I agree, WS doubling GBPUSD spread is perhaps to some extent understandable, and withstandable - due to how fast GBPUSD can move etc. and for some traders this may be a blessing in disguise if the 2 pip spread puts them off trading GBPUSD - if they were doomed to fail anyway - whereas EURUSD may be better suited to them.

If WS were to suddenly double their EURUSD spreads, I for one would be annoyed, and it would raise major questions about my continued trading with WS, as a 2 pip spread would significantly reduce my EURUSD profitability.

Daft thing for me to say really, there is no positive side to the doubling of spreads IMO. I'd rather fail with a one pip spread than a 2 pip spread. Although if a 2 pip GBP spread puts a novice off trading GBP, and they were doomed to fail regardless, then the 2 pip spread may have done them a small favour in putting them off GBP.

 

[MarvinS]

Hi Marvin

Am I to assume that with your continued input that you are still working for WS? Or are you in HK?

Cheers

FIM

Still in Hong Kong yes!
No i am working for a Bank out here, but i am not going to say whom as i don't want any of you opening accounts lol...
Still trading PA!

 

[MarvinS]

<<WS have not tried to significantly reduce traders profits in certain markets,>>

How does doubling the spread not reduce traders' profits?

In the whole scheme of things is it really going to cause the Sun and the Moon to fizzle out. If you don't like it trade with IG, they are the same spreads.

 

[FXSCALPER2]

WS have such a terrible platform (if you can call it that). How difficult can it be to introduce various order types? I end up paying commissions and trading with an ECN all day long just to avoid trading on WS's crappy 'platform'. Such an amateurish outfit, it really is. By the way, their quotes were too bad on USDJPY yesterday. It was out 15 pips at one time, and am not telling what I did with that

 

[MarvinS]

WS have such a terrible platform (if you can call it that). How difficult can it be to introduce various order types? I end up paying commissions and trading with an ECN all day long just to avoid trading on WS's crappy 'platform'. Such an amateurish outfit, it really is. By the way, their quotes were too bad on USDJPY yesterday. It was out 15 pips at one time, and am not telling what I did with that

Still complaining but you are trading with them! Best thing to do is trade, make money, and keep your mouth shut! How's that for advice...

 

[FXSCALPER2]

Here is another thing I just found out: you can't open two or more tickes (for two or more different pairs) at the same time!! Damn, how rubbish is that! Too funny

 

[JTrader]

Still complaining but you are trading with them! Best thing to do is trade, make money, and keep your mouth shut! How's that for advice...

Sounds like good advice. Maintain a low profile.

 

[FXSCALPER2]

Still complaining but you are trading with them! Best thing to do is trade, make money, and keep your mouth shut! How's that for advice...

No, Marvin I don't trade with them most of the time because they are just too rubbish in all sorts of ways. I do make a lot of money trading, if you must know. I certainly don't need advice from someone who thinks they can offer instant execution, 1 pip spread and scalping with no commissions on GBPUSD. Stop being a pillock Marvin.

 

[JTrader]

To me, its seems that WS have challenged the rest of the SB industry to "break out" and improve their spreads in certain markets (while at the same time trying to establish their own products).
Most have responded to some extent eg. CMC lower 3 pip spread to a 2 pip EURUSD spread, CS 1 point FTSE spread.
However, the SB's as a whole seem to have tried to hold firm and maintain the status quo in the main. Perhaps I am wrong.

WS have been like a breath of fresh air. Were WS to continue to raise there spreads now, falling in line with the competition, I for one would be calling it a conspiracy.

 

[FXSCALPER2]

I always thought WS was a rubbish outfit. I have seen all sorts over the years: requotes, freezes, rejections slippage, the lot. What I have never seen is a 'broker' referring all bets on a pair because that pair has been a 'fast market' recently. I found that a bit funny AND it confirmed to me these guys are shooting from the hip and are targeting clueless people. If you know anything at all about the markets, you will see how rubbish the following is:

Please wait for a site operator to respond.
You are now chatting with 'Nick'
Nick: can i help?
me: my account number is *******
me: all my trades are being referred to dealer
me: can u tell me why?
Nick: can you give me an example
me: what do u mean?
me: two tiny trades this morning in USDJPY
me: And two of the same yesterday
me: u there?
Nick: all yen trades are on ref because of fast markets
Nick: all other mkts should go straight through
me: it is bloody slow right now, mate
Nick: so i guess we are right to refer trades
me: you are not serious!!
me: That is too funny for words
me: you need to get your act together
me: I am withdrawing my money
me: because
Nick: sorry are you john mcenroe
Nick: please call customer services to pull money
me: it frightens me how ignorant you guys are
me: i will
Nick: bye
me: good day

I can just see the bosses having a meeting: 'better refer all yen trades, market moving too fast recently. Damn guys, get someone who knows about how the market works'. what a bunch of fools.

 

[The Pear]

I can just see the bosses having a meeting: 'better refer all yen trades, market moving too fast recently. Damn guys, get someone who knows about how the market works'. what a bunch of fools.[/QUOTE]

FX that is shocking - I do not have an account with WS but I agree the SB operatins should have the capability of offering a product and making a price outright withouit having to refer esp in FX - totally liquid.

 

[jm99]

I always thought WS was a rubbish outfit. I have seen all sorts over the years: requotes, freezes, rejections slippage, the lot. What I have never seen is a 'broker' referring all bets on a pair because that pair has been a 'fast market' recently. I found that a bit funny AND it confirmed to me these guys are shooting from the hip and are targeting clueless people. If you know anything at all about the markets, you will see how rubbish the following is:

Please wait for a site operator to respond.
You are now chatting with 'Nick'
Nick: can i help?
me: my account number is *******
me: all my trades are being referred to dealer
me: can u tell me why?
Nick: can you give me an example
me: what do u mean?
me: two tiny trades this morning in USDJPY
me: And two of the same yesterday
me: u there?
Nick: all yen trades are on ref because of fast markets
Nick: all other mkts should go straight through
me: it is bloody slow right now, mate
Nick: so i guess we are right to refer trades
me: you are not serious!!
me: That is too funny for words
me: you need to get your act together
me: I am withdrawing my money
me: because
Nick: sorry are you john mcenroe
Nick: please call customer services to pull money
me: it frightens me how ignorant you guys are
me: i will
Nick: bye
me: good day

I can just see the bosses having a meeting: 'better refer all yen trades, market moving too fast recently. Damn guys, get someone who knows about how the market works'. what a bunch of fools.

fx, that's hilarious.

re mcenroe....isn't being sarcastic to customers a disciplinary offense he he

 

[klw]

Sorry fx but that was so funny.

But on the serious side that is a new low for customer service,customer savageing more like.

I can give you a reason why they are not interested in your business right now , over at Robbie Burns' site the naked-trader he has just set up a deal for his site ( thousands of readers ) with W/S where they have a cash back deal of £250 against losses in the first 8 weeks.He has commented on his site that he has been inundated with applicants.So who are W/S going to be more interested in an experienced punter who takes money off them and costs them time to deal with or probably hundreds of nice green ripe punters waiting to be plucked?

Also I rang them the other day regarding a problem I had and I had to tell the dealer 3 or 4 times my account number and what the problem was he just wasen't listening as you could hear he was trying to do multiple things at once,those guys are rushed off thier feet at the moment.

As someone has said keep your head down,trade quietly and just take the money when you can at least we know where we stand now. It's most probably always been like that.

 

[Phil Mibbutz]

All my recent share bets with WS seem to be referred to dealers now, even on a minimal stake. Does everyone get another '5 seconds to accept' box after clicking for buy or sell these days?

 

[FXSCALPER2]

All my recent share bets with WS seem to be referred to dealers now, even on a minimal stake. Does everyone get another '5 seconds to accept' box after clicking for buy or sell these days?

Oh, I get that all the time. The funny part is, I trade sooooo small with these guys. I just don't lose money to them. I will commit suicide when such fools take money from me. They are funny though, I do agree. The guy even said, 'you Mcnroe?' :cheesy:

 

[klw]

W/S just took 8 minutes to activate my stop loss. Is this a record ?

 

[gle101]

W/S just 8 minutes to activate my stop loss. Is this a record ?

Yes I have also noticed this problem when I was trading with WS. I think they have to solve this problem as it takes up trading resources. However, they have always executed giving the right price.

 

[klw]

Why did you stop trading with them gle101 ?

 

[MarvinS]

Because i left!