Worldspreads upgraded!

[laptop1]

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

Lets get some basic facts here. gle101 is defending WS to the hilt. I wonder why ?

Fact 1, c6ackp made £250.00, since then has not been allowed to trade with WS

Fact 2, laptop1 made £1,300, since then I have not been allowed to trade with WS

Fact 2, gle101 made 880%. we not sure how much he placed per trade, but even if he started with just 250quide account, trading 1 pound a point he would have made £2,200.based on 880%. However he was allowed back to trade with WS.

But myself and c6ackp was not.....does this tell you all something.

 

[FTSE in mouth]

Yaaaaawn @ Laptop1.

C'mon buddy, write the letter tonight and mail it. Don't wait until the weekend. Do it now! I want to know what happens sooner rather than later.

Someone is telling porkies between you and gle101 and MarvinS. Now let's paint by numbers....
MarvinS is bound by FSA compliance regs about how he deals with customers etc etc so the probability of him telling bald-faced lies are less than you and gle101 so I can't wait to find out which of you is telling stories....

One of you could like a complete tool by the end of this and I wonder who it will be........

Have you ever considered you aren't allowed back to WS because you behave like asses on here and on the phone to them? Just an idea and maybe WS can afford to be picky.

Based on your tone you are way to much trouble to have as a client.

 

[laptop1]

So you also saying c6ackp is telling porkies.and myself. Look mate I am only asking for a simple answer. you the one who looks like an ass. for not seeing this.

I also know of someone who is in talk with the FOS. But I cant comment on it, till it is sorted. out, you would not believe what WS done to that client.

I got a point, if you cant see it, you are the one who is an ass.

 

[FXSCALPER2]

Wow! Why don't you explain to us how it is possible for them to make a profit from 1 pip spreads? In a market where something is bought for £1 and sold for £2, you can only make money if you can buy for less than £1 and sell for £2, or you buy for £1 and sell for more than £2, or buy for less than £1 and sell for more than £2. If you buy for £1 and sell for £2, you make no profit, especially if you also have to pay a commission. In forex, you can get 1 pip spreads (or choice) plus commission in the real market. Given WS will have to offload in the real market, how are they going to make any money from a 1 pip spread? The answer is they can't. This is a fact. If they offer instant execution and 1 pip spread, they will ALWAYS lose when one of their clients win. The only thing they can do is to trade with the wiinning cleints (or take the opposite trade), which means taking a directional play rather than making the bid-ask, which is a different ball game.

Your second point is a bit too funny, I have to say. Do you want to know why WS 'contemplated' a 1 pip spread? Because they know that the vast majority of their clients will lose.

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

 

[FTSE in mouth]

Well it seems you missed my point too mate.

gle101 could also be telling porkies and so could MarvinS to a much lesser probability though.

I must say that I am also taking a certain amount of pleasure in your vehement attitude to this thread. It is really very funny.

On the face of it, you are bleating like a 2 year old that you aren't allowed back to WS because you perceive that gle101 who had more success than you is allowed back. Perhaps he is the one telling big porkies. c6ackp also has an axe to grind. Well maybe he is not being truthful. There is no proof that any of you are being 100% factual. It could all be a storm in a teacup and I have read so much crap on these boards that you must please excuse my cynicism.

Damn this is funny!

BTW, what is FOS?

 

[laptop1]

BTW, what is FOS?

It means Financial Ombudsman Service (FOS) you should have known that being a trader.I have many isues with WS one being their financial promotions where they have misrepresented me, with execution on trades I sighed up for instant executions trading not referred to dealer trades being referred to dealer consistently. There is a problem with their contract in that, these terms may in fact breach the Unfair Terms in Consumer Contracts regulations.

further more FTSE in mouth dont you find is strange why Marvin of WS dont answer a simple question? .....

 

[FTSE in mouth]

It means Financial Ombudsman Service (FOS) you should have known that being a trader.

Damn, ya got me. I thought it was Forward Observation Somethingorother. I am obviously not a trader.

further more FTSE in mouth dont you find is strange why Marvin of WS dont answer a simple question? .....

I don't find it strange that he is not answering publicly on this forum. The way you are carrying on here it would be silly. However, the fact that this hasn't been addressed in private offline I feel is quite poor. One caveat to that though is that I don't know the background of the facts and figures pertaining to your private conversations. That is the truth only known between the 2 of you.

Good luck. I really hope you get to the bottom of this but then what are you going to post about on T2W?

 

[gle101]

Wow! Why don't you explain to us how it is possible for them to make a profit from 1 pip spreads? In a market where something is bought for £1 and sold for £2, you can only make money if you can buy for less than £1 and sell for £2, or you buy for £1 and sell for more than £2, or buy for less than £1 and sell for more than £2. If you buy for £1 and sell for £2, you make no profit, especially if you also have to pay a commission. In forex, you can get 1 pip spreads (or choice) plus commission in the real market. Given WS will have to offload in the real market, how are they going to make any money from a 1 pip spread? The answer is they can't. This is a fact. If they offer instant execution and 1 pip spread, they will ALWAYS lose when one of their clients win. The only thing they can do is to trade with the wiinning cleints (or take the opposite trade), which means taking a directional play rather than making the bid-ask, which is a different ball game.

Your second point is a bit too funny, I have to say. Do you want to know why WS 'contemplated' a 1 pip spread? Because they know that the vast majority of their clients will lose.

One can certainly look at things from different angles. I was answering your question from a totally business operational point of view. If Worldspreads keep up the 1 point spread it probably means they are profiting from this operation. It is the final result that counts.

 

[gle101]

Stop loss

Has anybody on this thread any experience of how well stops are working at Worldspreads? I am using mental stop loss while trading at WS so I don't really know.

 

[c6ackp]

Has anybody on this thread any experience of how well stops are working at Worldspreads? I am using mental stop loss while trading at WS so I don't really know.

I only have experience of the old system: the stops were absolutely fine then. Never got slipped 1 tick whether the trade was profitable or not.

 

[gle101]

I only have experience of the old system: the stops were absolutely fine then. Never got slipped 1 tick whether the trade was profitable or not.

Thanks a lot! I will try it out and see how it works for me.

 

[klw]

I can only post from my experience with WS so far. The 1 point spread has to be applauded and lets hope it sparks some competition. The price does reflect the market most of the time.They do " weight " it in thier favour sometimes but it's a spread betting company so you have to expect this,they all do it as far as I can see.

I have been with them 3 weeks or so and am showing a profit of some 25 points ( no big deal I know ) and starting to get somewhere. I suffered a re-quote yesterday morning at 8.10 a.m at the low on the ftse futures. My bet was £1 a point long,hardly earth shattering and can see no reason what so ever that I should have had a re-quote,the market was not volatile,it was however a cracking entry point for the ftse that day,draw your own conclusion.I hope it's not a sign of the times to come.I really want to trade at £1 a point.

Yes I know they want to protect thier product / profits etc. but if I was running a spread betting company I would be salivating at the prospect of top winning traders ( I don't mean me by the way ) opening an account with me.Why ban them ? All you have to do is follow thier trades and, well it doesen't need further explanation. If you offer a product it should be available to everyone.

So come on WS the £1 a point is daring and and you should be congratulated on that. Let us minions have our prices and get your traders to give you more profits by following the top pros. trading with your firm.That way we can all benefit.

 

[gle101]

I can only post from my experience with WS so far. The 1 point spread has to be applauded and lets hope it sparks some competition. The price does reflect the market most of the time.They do " weight " it in thier favour sometimes but it's a spread betting company so you have to expect this,they all do it as far as I can see.

I have been with them 3 weeks or so and am showing a profit of some 25 points ( no big deal I know ) and starting to get somewhere. I suffered a re-quote yesterday morning at 8.10 a.m at the low on the ftse futures. My bet was £1 a point long,hardly earth shattering and can see no reason what so ever that I should have had a re-quote,the market was not volatile,it was however a cracking entry point for the ftse that day,draw your own conclusion.I hope it's not a sign of the times to come.I really want to trade at £1 a point.

Yes I know they want to protect thier product / profits etc. but if I was running a spread betting company I would be salivating at the prospect of top winning traders ( I don't mean me by the way ) opening an account with me.Why ban them ? All you have to do is follow thier trades and, well it doesen't need further explanation. If you offer a product it should be available to everyone.

So come on WS the £1 a point is daring and and you should be congratulated on that. Let us minions have our prices and get your traders to give you more profits by following the top pros. trading with your firm.That way we can all benefit.

I agree, WS do at times "weight" the 1 point spread, but that is, as you say to be expected from a Market Maker. I do also trade the FTSE and I have often noticed that the real market spread can be a lot wider than 1 point, even to "weight" will in these cases not help to cover up for the real market spread.

I have also encountered re-quotes on the FTSE, especially, as you say in the morning openings. I guess when they anticipate a really big move it can occur. I do a lot of trades and these isolated re-quotes do not affect my trading as a whole. Of course if re-quotes increase in numbers it is not a good thing.

 

[laptop1]

.

 

[FTSE in mouth]

So you not going to write the letter then?

I nominate laptop1 as the official T2W conspiracy theorist LOL.

Gl mate in finding the right trading platform.....

Now back to the YM with a 1 point spread, low commissions and very little slippage, DMA and a true zero-sum game....... ooops I forgot, I am not a real trader. Back to papertrading UK equities like VOD...

 

[Legion]

I agree, WS do at times "weight" the 1 point spread,

How do you know this? how is a customer to know this ?their prices may not reflect the underlying as they state .

dont forget they are banning people it seems if they think the customers are obtaining a better price than Worldspreads quotes, only umm worldspreads quote it if you see what i mean .

Grief whats a customer to think if the bookie isnt even sure of the price they offer to clients is there or not when it is.

 

[laptop1]

Its clear I can not get an answer from MarvinS of worldspreads also I can't be bothered to rise to replying to gle101 opinionated nonsense it clear to me he something to do with WS. You guys have seen it for you self. WS dont want to answer my questioned. although I have tried through letters and phone calls. I take it they dont want real traders trading with them only losers be Warned

..................... THREAD CLOSED..............

 

[gle101]

How do you know this? how is a customer to know this ?their prices may not reflect the underlying as they state .

dont forget they are banning people it seems if they think the customers are obtaining a better price than Worldspreads quotes, only umm worldspreads quote it if you see what i mean .

Grief whats a customer to think if the bookie isnt even sure of the price they offer to clients is there or not when it is.

In order to see this, while trading the FTSE for example, one has to obtain a live feed from the LIFFE exchange which WS are using as the underlaying asset. Compare this live feed with Worldspreads quotes and you will see an almost perfect match, both in speed and quotes. As I have seen it, the "weightering" consist of 1 point diversion in either direction, however, you still get the 1 point spread from WS, even if the live feed shows e.g. 2 point spread.

 

[MarvinS]

I agree, WS do at times "weight" the 1 point spread, but that is, as you say to be expected from a Market Maker. I do also trade the FTSE and I have often noticed that the real market spread can be a lot wider than 1 point, even to "weight" will in these cases not help to cover up for the real market spread.

I have also encountered re-quotes on the FTSE, especially, as you say in the morning openings. I guess when they anticipate a really big move it can occur. I do a lot of trades and these isolated re-quotes do not affect my trading as a whole. Of course if re-quotes increase in numbers it is not a good thing.

GLE - In fact we do not weight our prices it is virtually impossible to weight a market on a 1 pip spread. We put trades on referal in the first 10 minutes of the exchange hours just to allow the markets to settle. We also place trades on referal around a news announcment.

 

[gle101]

GLE - In fact we do not weight our prices it is virtually impossible to weight a market on a 1 pip spread. We put trades on referal in the first 10 minutes of the exchange hours just to allow the markets to settle. We also place trades on referal around a news announcment.

Hi Marvin,

Yes I do understand your point. Let's say the real market shows, for example, 2 point spread, so I guess you have to "weight" in your 1 point spread in some way or the other. I understand that there has to be some automatic mathematical algorithm for this correction. Please correct me if I am totally wrong on this assumption.

Great, at least this conversation shows that I am not at all connected with Worldspreads, apart from being a trader.