Worldspreads upgraded!

[Legion]

Fair points amac, the thing is Marvin is trying to promote worldspreads as suitable for Traders? err, if you cant place a trade on a price THEY supply, whats the point? how is a retail punter suppose to know the price they are quoting is not a fair price, I'll say it again ,especially when they say in terms and conditions, our price may NOT reflect the underlying.? worldspreads is no good for traders is it ? only they contiue to paint jolly nice pictures for joe public who they HOPE will never become more savy.

besides laptop was holding between 3 mins and 45 minutes on his trades still banned?

Not a good advert is it.

 

[gle101]

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?

I agree totally, an excellent post by somebody who has insight into how this industry works.
Thanks!

 

[amac40]

Legion

I suspect that Laptop1 holding time was a lot less than 3 mins. The only reason he will have been taken off instant ex. would be if he is at it!

I do trading for a living and I use WS quite a lot. Remember if you are a good trader and make money then the SB companies will hedge or follow you. If you are a loser then they will let you do what you want.However in both instances you will get on. However if you are legging them over because of a dodgy feed then they will want to stop you. Simple !

 

[dcarrigan]

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?

think the reason laptop wanted to trade with w spreads is the 1 point and tax benefits. i trade with ib the cheapest in the market but it still costs the 1 point spread and approx $4 per $5 contract. the ws spread looked good to me been as market with no com but no good if you carnt get out when you want.

 

[gle101]

think the reason laptop wanted to trade with w spreads is the 1 point and tax benefits. i trade with ib the cheapest in the market but it still costs the 1 point spread and approx $4 per $5 contract. the ws spread looked good to me been as market with no com but no good if you carnt get out when you want.

Yes I agree, this is probably the case. However, I do not understand what you mean by "if you can't get out when you want"? At very volatile times one can certainly get a re-quote, but otherwise you will get instant execution.

 

[MarvinS]

Fair points amac, the thing is Marvin is trying to promote worldspreads as suitable for Traders? err, if you cant place a trade on a price THEY supply, whats the point? how is a retail punter suppose to know the price they are quoting is not a fair price, I'll say it again ,especially when they say in terms and conditions, our price may NOT reflect the underlying.? worldspreads is no good for traders is it ? only they contiue to paint jolly nice pictures for joe public who they HOPE will never become more savy.

besides laptop was holding between 3 mins and 45 minutes on his trades still banned?

Not a good advert is it.

Somehow you've lost the point i am not here to paint any jolly picture. In fact WS has been lambasted to the nth degree by so called traders on this thread, as i described before as bullies and wingers. It is when decent traders like GLE are bullied for stating that in fact the system does not give you instant execution during the release of a figure like Non Farm payrolls. What firm would qoute you instantly on a 1 pip spread, during a figure.

 

[FTSE in mouth]

Ummm wingers play rugby Marvin :cheesy:

Marvin, mate, you are fighting a losing battle. It doesn't matter how well you reply to anything you are going to get lambasted by a few unhappy souls who can't arb the market at will.

You can't win but dont worry about. WS will still be OK and these guys are still going to find creative ways to make easy money. Hell, I will myself but I won't bitch when that avenue gets cut off to me.

Good luck in your future ventures and having met you in person I can say you are a decent chap to talk to and I for one will miss having you at WS.

Take care

FIM

Somehow you've lost the point i am not here to paint any jolly picture. In fact WS has been lambasted to the nth degree by so called traders on this thread, as i described before as bullies and wingers. It is when decent traders like GLE are bullied for stating that in fact the system does not give you instant execution during the release of a figure like Non Farm payrolls. What firm would qoute you instantly on a 1 pip spread, during a figure.

 

[Legion]

Somehow you've lost the point i am not here to paint any jolly picture. In fact WS has been lambasted to the nth degree by so called traders on this thread, as i described before as bullies and wingers. It is when decent traders like GLE are bullied for stating that in fact the system does not give you instant execution during the release of a figure like Non Farm payrolls. What firm would qoute you instantly on a 1 pip spread, during a figure.

agree, and i expect you widen your spreads? thats not the point, can customers deal instantly on your quotes, you worldspreads supply to its customers.? Thats subjective it seems, whatever the spread is quoted. As what I am reading is that you have banned a customer from dealing on your quotes, to that i say whats the point in quoting a Point when traders cannot deal on it?.

It seems you have banned and re admitted other customers who can deal again but another customer who has taken less of your money is not allowed to have a go at taking any more from you.

Thats not cricket. Nor good the spirit of trading which we all surely embrace.

GLE hasnt been bullied and hes doing a very reasonable job of answering enquiries.

 

[laptop1]

IIf 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?

Dont try to patronise. For you info I use two brokers berkeley and IB when day trading . how the hell do you think I have been making money. I only traded with WS for 4 days...

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 me.WS came back to me and said, we let you back on but you must pay a wider spread. I agreed to this. but once I started making,they stopped me once again.

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. I have had an account with igindex for the last 12 years trading postion trades, with no problems.


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.

 

[Priceman]

Somehow you've lost the point i am not here to paint any jolly picture. In fact WS has been lambasted to the nth degree by so called traders on this thread, as i described before as bullies and wingers. It is when decent traders like GLE are bullied for stating that in fact the system does not give you instant execution during the release of a figure like Non Farm payrolls. What firm would qoute you instantly on a 1 pip spread, during a figure.

Marvin, does this mean you are saying that's probably why laptop can't get onto instant execution ? He's a news scalper ?

I am going to try WS in the near future for myself and post whatever I find, I am hoping that it will be good and positive news I report back, not that that should sway anyone to be honest.

I hope your successor will come onto the forum to answer questions as you have, 'mostly'

 

[gle101]

Ummm wingers play rugby Marvin :cheesy:

Marvin, mate, you are fighting a losing battle. It doesn't matter how well you reply to anything you are going to get lambasted by a few unhappy souls who can't arb the market at will.

You can't win but dont worry about. WS will still be OK and these guys are still going to find creative ways to make easy money. Hell, I will myself but I won't bitch when that avenue gets cut off to me.

Good luck in your future ventures and having met you in person I can say you are a decent chap to talk to and I for one will miss having you at WS.

Take care
FIM

Absolutely not, he is fighting a winning battle if the products Worldspreads offer, are on demand. Traders will seek out the best deal they can get, in the long run, they simply do not care about the few people that cannot accept how this industry works. A practical trader will try out a platform, if it works for him/her, s/he will stick to it.

 

[FTSE in mouth]

Ummm OK, I think something got lost in translation. You Scandi's take things waaaaay to literally .

Absolutely not, he is fighting a winning battle if the products Worldspreads offer, are on demand. Traders will seek out the best deal they can get, in the long run, they simply do not care about the few people that cannot accept how this industry works. A practical trader will try out a platform, if it works for him/her, s/he will stick to it.

 

[gle101]

Ummm OK, I think something got lost in translation. You Scandi's take things waaaaay to literally .

Yes you are probably right, ha ha!

 

[MarvinS]

I just counted that 57 clients when registered with WS noted they heard about us via Trade2win. This is a very popular forum indeed.

 

[laptop1]

Traders will seek out the best deal they can get, in the long run, they simply do not care about the few people that cannot accept how this industry works. .

Let me tell you gle/.purple writer. I know how the industry works. I have been in the game far longer than most on here.and you cant fool mr gle101. there is something fishy you speak like a PR and it's funny how you dodge all my posts.

This is how the industry works when you start spread betting, you are taking a position against the very organisation who makes the price at which you enter and exit. You are not trading against a market, but a single entity. In other words, they have you by the short and curlies. they decide if you win or lose. Every penny you lose spread betting goes in to the spread betters pocket. If he ever decides to let you win (he will occasionally as he knows about random rewards), he does so because he knows it is in his interest to let you win sometimes, but certainly not all times.

Where as trading on an exchange is a zero sum game, spread betting is a minus sum game . It has to be - otherwise it wouldn't be a profitable business venture and would never get funding.

 

[gle101]

Let me tell you gle/.purple writer. I know how the industry works. I have been in the game far longer than most on here.and you cant fool mr gle101. there is something fishy you speak like a PR and it's funny how you dodge all my posts.

This is how the industry works when you start spread betting, you are taking a position against the very organisation who makes the price at which you enter and exit. You are not trading against a market, but a single entity. In other words, they have you by the short and curlies. they decide if you win or lose. Every penny you lose spread betting goes in to the spread betters pocket. If he ever decides to let you win (he will occasionally as he knows about random rewards), he does so because he knows it is in his interest to let you win sometimes, but certainly not all times.

Where as trading on an exchange is a zero sum game, spread betting is a minus sum game . It has to be - otherwise it wouldn't be a profitable business venture and would never get funding.

The Market Maker makes its profit through the spread, the DMA broker makes its profit from the commission. It is as simple as that. You have a choice, it is up to you. I like to use both alternatives.

 

[Directional]

not quite correct, as the MM has the opposite position to the person that fills them. they only make the spread if they then go flat by filling someone else on the other side or can hedge at a better price in the underlying.

 

[FXSCALPER2]

gle,

It isn't 'as simple as' that, of course. You don't think WS are going to make their profits from a 1 pip spread, do you?

 

[laptop1]

As you will not answer my reply on this thread or over the phone MarvinS, I will write to COO Kevin Taylor and a copy of the letter to Chairman Lindsay Mcheile of worldspreads. on how you have treated me with not answering a simple question to why I am not allowed to trade on instant executions.if I dont get no joy with them I will forward it to the FOS.

The question will be put forward why is gle101 allowed back trading after apparently making 800% BUT I am not allowed to trade after only making 1,300 quid.

I will write the letter over the weakened to get to the bottom if this.

I am very disappointed with you Marvin with not answering a simple question on here and other should take note!

 

[gle101]

gle,

It isn't 'as simple as' that, of course. You don't think WS are going to make their profits from a 1 pip spread, do you?

Yes, they will probably make a profit from 1 point spread, otherwise I guess WS would not have contemplated on introducing this offer.