Worldspreads upgraded!

[gle101]

Whats the point of having an upgraded electronic platform if humans decide the users or CUSTOMERS of the platform & service are NOT allowed to even use it?

Could this mean that the platform although claiming to be upgraded is still not suitable because people are being told they CANNOT use it?

If Worldspreads provide a good trading environment for traders, they will be drawn to it automatically, the market itself will take care of that. Of course the opposite will be true if their environment is not up to the mark. I think this is something one has to find out personally.

 

[FXSCALPER2]

You really surprise me, gle. I will be really amazed if you have nothing to do with WS. What do you mean 'one-sided'? It is simple, really. laptop is banned, that is a fact. WS are supposed to have no feed problems any more, that is supposed to be a fact. The question is: WHY ARE THEY NOT ALLOWING HIM TO TRADE? Why do you pretend that this question has been answered. You are looking a bit strange defending WS's position here. You keep on implying that you have answered leptop's question. The fact is you haven't, and neither did Marvin.

You say let's get to the point of this thread. OK, let's do just that. If WS upgraded, they should allow laptop to trade. What could he have possibly done? You say there are two sides to this. Suggest one possibility that cannot be sorted by WS upgrading their feed.

A one sided condemnation does not make for a two way conversation. It does not allow the open and honest discussion, on the advantages and disadvantages of a particular platform or related issues that this forum is dedicated to provide. So far, I have mentioned my own experience with my own trading resources.

Every business transaction has to be a win-win situation for both parties, otherwise things will not work in the long run. Let's get back to the real issue for which this thread was started.

 

[laptop1]

I have contacted WS many times and wrote a letters to them, so I feel I have done my bit, to try to sort out why I cant not trade on instant execution as is advertise.… This is one of many messages I have left on the other Worldsreads thread bellow on the 06-10.2006

Hello Marvin
I called you two times last week, If I could come back on Auto trading as you feed is much faster. You said on two occasion you will get back to be,saying you need to talk to the dealrs first. I also called today, three times, but the girl on reception said you was very busy,. maybe you new it was me calling? Anyway, it says in your letter you sent me, that I could go back on Auto trading, read the letter below.

Furthermroe I have wrote a letter to WS This is their letter of reply.

Letter from worldspreads
We operate a fully hedged book so it is irrelevant to our Company performance whether a client makes money or not. We do, however, do not appreciate clients who deliberately trade off slow moving prices when they are clearly aware that the price is a few seconds slow.

We are currently doing extensive work on our IT platform which will ensure that by the end of August, our prices will not be delayed and consequently, we will put you back on automated instant executions. Until this new system is in place, please accept out apologies for the slow moving prices which had precipitated you account being placed on dealer referral;

They operate a fully hedged book my ass.The above letter was sent on the 1st August 2006. But still no answer from Marvin of WS. I could not get an answer by phoning them.cant get an answer on the trade2win boards, what more can I do. ...to trade on 1 points spread with instant execution as they so proudly advertise...I am not the kind of person to let matters drop, I keep on and on and on till I get an answer .....

Even if they say Yes I can go back trading with them, doesn't mean I will after all this sh,t I have taken off them. But I want an answer either way a simple YES or NO That's all I want, I am not asking much

 

[FTSE in mouth]

This is funny.....

To all the broken records out there.....

If you are pissed off about getting requoted by a SB company then go to DMA trading with CFD's, futures or FX or the like as you wont ever have to worry again. You will never be penalised for being a winner. You can trade the size you want at the price you want.

If gle101 likes WS then let him like it. I am quite happy there too. I never get requoted myself and I find all my queries with WS staff are handled well.

Alpesh Patel is a shareholder in WS.

Marvin won't be making a re-appearance on T2W as far as I can tell. You are right. Trying to fight a customer relations battle on here is pointless as no matter what you say you will never, ever be able to put your point across with the peanut gallery shouting you down vehemently.

Now I shall sit back and wait to be accused of working for WS too. I know that WS or any other spreadbetter for that matter is blameless but you must have done something to illicit that response? Maybe you did, maybe you didn't but the bottom line is that if you don't like artificial markets then don't trade them.

 

[Legion]

but the bottom line is that if you don't like artificial markets then don't trade them.

Hang on how is a customer supposed to know that the artificial market price being quoted from the spreadbet company is artificial? especially when they also state Their prices may not actually reflect the underlying index ?

So is there an artificial artificial price,there has to be in that case, that still doesnt sound like a pucker upgrade in my books ?

Somethings not right.

 

[gle101]

To all the broken records out there.....

If you are pissed off about getting requoted by a SB company then go to DMA trading with CFD's, futures or FX or the like as you wont ever have to worry again. You will never be penalised for being a winner. You can trade the size you want at the price you want.

If gle101 likes WS then let him like it. I am quite happy there too. I never get requoted myself and I find all my queries with WS staff are handled well.

Alpesh Patel is a shareholder in WS.

Marvin won't be making a re-appearance on T2W as far as I can tell. You are right. Trying to fight a customer relations battle on here is pointless as no matter what you say you will never, ever be able to put your point across with the peanut gallery shouting you down vehemently.

Now I shall sit back and wait to be accused of working for WS too. I know that WS or any other spreadbetter for that matter is blameless but you must have done something to illicit that response? Maybe you did, maybe you didn't but the bottom line is that if you don't like artificial markets then don't trade them.

At last here comes somebody who really understands what I wanted to put across on this bulletin board.

Thank you!

 

[FTSE in mouth]

It's a bookmaker, they make the book. It's that simple really. It's you vs. the bookie (lets face it, that's what they are). The price may have some semblance of mirroring the underlying but they can choose the spread as well as the price as they wish.....

Hang on how is a customer supposed to know that the artificial market price being quoted from the spreadbet company is artificial? especially when they also state Their prices may not actually reflect the underlying index ?

So is there an artificial artificial price,there has to be in that case, that still doesnt sound like a pucker upgrade in my books ?

Somethings not right.

 

[laptop1]

See how gle101 by past my post again and with a letter from WS but no comment??,. But he replied to FTSE in mouth. This tells you a lot about the Man. I take it FTSE in mouth/pete you trade small and hold for a few days. try day trading with WS. Its a diffrent ball game.

funny why there is no comment gle101/purple writer from my post 83 with a letter from worldspreads I wonder why.

 

[FTSE in mouth]

Laptop1

Yes, I am not a fan of some of gle101's responses (or non-responses) but he was taking a beating....

No I trade intraday at fair size. I have spoken to the desk at length about requotes as I had some to begin with and here's what I understand of it....

Have an account of good size for the £pp you want to trade....

Do not try to arbitrage scalp (ie looking for WS datafeed lag and then fillin' yer boots).....

You should have a relatively stress free time then..

See how gle101 by past by my post again and with a letter from WS but no comment??,. But he replied to FTSE in mouth. This tells you a lot about the Man. I take it FTSE in mouth/pete you trade small and hold for a few days. try day trading with WS. Its a diffrent ball game.

funny why there is no comment gle101/purple writer from my post 83 with a letter from worldspreads I wonder why.

 

[laptop1]

Laptop1

Yes, I am not a fan of some of gle101's responses (or non-responses) but he was taking a beating....

No I trade intraday at fair size. I have spoken to the desk at length about requotes as I had some to begin with and here's what I understand of it....

Have an account of good size for the £pp you want to trade....

Do not try to arbitrage scalp (ie looking for WS datafeed lag and then fillin' yer boots).....

You should have a relatively stress free time then..

I have asked WS over the phone I will only place a few trades a day. and be in a trade from any where 3mins to 45mins. I dont call that arbitrage. I even asked Marvin I trade in lots size as is traded on the, YM so that WS could hedge my bets if they wished to do so. But he said we dont hedged. However the letter I had off them said they hedged 100%...generally it's not clear to me what they are trying to.

Its not that I cleaned them out at the time I was trading with them. I only put in a 1000 quid and withdrew 2300 quid. nothing to ride home about.

Its seems strange, why they don't want my business


Like I said. I will keep on till I get an aswer. I have plenty of time on my hands I only trade for 2 to 3 hours a day......WS only got to say YES or NO. if I could come back, that is, if I wish to use their service again. But it be nice to know if I had an option.

 

[jm99]

It's a bookmaker, they make the book. It's that simple really. It's you vs. the bookie (lets face it, that's what they are). The price may have some semblance of mirroring the underlying but they can choose the spread as well as the price as they wish.....

spot on.....also know as a bucket shop

the target market is the small punter, who has less of a clue than the "90%" that lose at this game

 

[FTSE in mouth]

jm99, now you know why I would love to own one of 'em .

Seriously though, anyone who doesn't understand this and that this what they are up against in spreadbetting shouldn't be doing it.

 

[MarvinS]

Alot of school yard tripe and bullying on this thread and i am sorry Gle, that a thouroughly decent trader and person from outside of the UK should go through this. A true trader with ethics in my eyes! Gle the sad fact is that sour grapes exist on this thread and will always linger. It is part of the British culture to continue arguing and winging about things in the past. I will be leaving this industry shortly to further my career in banking in Hong Kong. However i must add that i really think WS is in a great position to add a great deal of value for you the trader. Do not think in short term bursts, because development at WS can and will only happen if you let them know. Such a negative thread will never provide you with the leverage to have what you as traders want. i.e. 1 pip spreads.

I must also add that Gle has never had any part to do with WS and for you to lambast him in such a fashion, i would be utterly ashamed. Good luck with trading on the 1 pip spreads and if you really think spread betting is not for you then stick to futures trading.

I would gladly take the pressure of Gle now if you really think he is taking a beating. Atleast he stuck his neck out...

 

[laptop1]

See how MarvinS from WS ignore my question. I will keep on till I get an answer from you MarvinS....Why cant you answer a simple question. Why cant I trade on instant execution. if I wish to do so.

YES or NO......................Answer on the dotted line....................Tick YES.......Tick NO

 

[laptop1]

Marvin I am holding back from showing the PMs you sent me. give me an answer or I will post them on here. I have had enough of the waiting game. for a simple answer. Why I cant I trade on instant execution like your friend gle101 who claims to have made over 800% off you and you have allowed him back trading again on instant executions."why not me". I think everyone else would like to know why you will not answer me.

I am not saying I will trade with you after all this, but I want an answer if I could, if I wish to do so.

I think it stinks you will not reply.

 

[Legion]

Alot of school yard tripe and bullying on this thread and i am sorry Gle, that a thouroughly decent trader and person from outside of the UK should go through this. A true trader with ethics in my eyes! Gle the sad fact is that sour grapes exist on this thread and will always linger. It is part of the British culture to continue arguing and winging about things in the past. I will be leaving this industry shortly to further my career in banking in Hong Kong. However i must add that i really think WS is in a great position to add a great deal of value for you the trader. Do not think in short term bursts, because development at WS can and will only happen if you let them know. Such a negative thread will never provide you with the leverage to have what you as traders want. i.e. 1 pip spreads.

I must also add that Gle has never had any part to do with WS and for you to lambast him in such a fashion, i would be utterly ashamed. Good luck with trading on the 1 pip spreads and if you really think spread betting is not for you then stick to futures trading.

I would gladly take the pressure of Gle now if you really think he is taking a beating. Atleast he stuck his neck out...

Traders? they demand reliability of swift execution, they seek to exploit price value favourable to themselves , I can see why your leaving the industry, if you think traders hang about and check to see if price quotes are real or not..... mismatching concepts Marvin.

Now i wouldnt of posted but you use the term TRADERS so assume you welcome their trading mindsets to take the bookies on? and take your money if you dont or cant or choose not to hedge it,that to me seems like the bookie whinging.

Sicerely all the very best with your career.

 

[c6ackp]

Such a negative thread...

Yes, entirely due to the hamfisted actions of WS against it's customers.

I will be leaving this industry shortly to further my career in banking in Hong Kong.

Hopefully Marvin's replacement will have the decency to answer laptop's simple question.

c6

 

[Phil Mibbutz]

Although WS deserve praise for introducing 1pt spreads (why haven't the rest followed?), I don't think Marvin would have got his new job on the basis of his tact, diplomacy and professionalism shown on these boards.

 

[amac40]

I have been using WS for the last 9 months but was absolutely astonished at some of the postings on this thread. I think that when the price feed was a bit slow I viewed it all as a bit off a giggle I think I got away with it for about 45 mins before they pulled auto execute. I phoned them up and had a laugh with them about it. However for people to start whingeing because they cant get on anymore is a complete joke- if the only way you are making money is dodgy price feeds or arbing between companies then you will not last very long.

None of the SB companies will mind if you take them out when they are best price but a fair price(ie not an arb). I have found WS to be excellent for laying a bet especially out of hours. In hours generally they give me the price but if it changes in transmission then it will have changed everywhere else as well and you are probably as well giving them the business as trying to get on somewhere else. If you are really trying to scalp then you you need to go to DMA. However I would put any money you like on a "whinger" losing on DMA.

Perhaps Laptop1 would like to tell us why he isnt using DMA as he can deal inside WS without any of the grief?

 

[gle101]

Alot of school yard tripe and bullying on this thread and i am sorry Gle, that a thouroughly decent trader and person from outside of the UK should go through this. A true trader with ethics in my eyes! Gle the sad fact is that sour grapes exist on this thread and will always linger. It is part of the British culture to continue arguing and winging about things in the past. I will be leaving this industry shortly to further my career in banking in Hong Kong. However i must add that i really think WS is in a great position to add a great deal of value for you the trader. Do not think in short term bursts, because development at WS can and will only happen if you let them know. Such a negative thread will never provide you with the leverage to have what you as traders want. i.e. 1 pip spreads.

I must also add that Gle has never had any part to do with WS and for you to lambast him in such a fashion, i would be utterly ashamed. Good luck with trading on the 1 pip spreads and if you really think spread betting is not for you then stick to futures trading.

I would gladly take the pressure of Gle now if you really think he is taking a beating. Atleast he stuck his neck out...

Hi Marvin,

I am really glad to have you on board posting on this thread. Even if this turns out to be your last post, as you will soon change direction in your career. Also thanks a lot for your support, I really do appreciate it.

I knew when I started this thread that I would be confronted and attacked with all sorts of personal allegations. Some members on this thread surely have a wild imagination. Thanks a lot for confirming that I am in no way connected to Worldspreads, apart from being a trader. All the same, this thread has got going and hopefully more will share their experiences on a constructive and positive note. I am pleased to see that in spite of all the negative postings, there are a few that really want a constructive and two sided discussion, on the subject for which this bulletin board is all about.

Don't worry Marvin, I can certainly take the heat from these guys simply because I have been in this game for a long time, and know exactly where I stand as a trader. The real problem is, it takes too much time off my trading, so from now on, I will be more selective in my postings, I will only reply to those who have any real content to discuss and use appropriate language. If the constructive content dries up and the whiners remain, the thread will eventually die out (as the old one did when you stopped posting) simply because no one will be interested in posting on a thread that doesn't produce any interesting content.

I wish you good luck with the new direction in your career!