Worldspreads upgraded!

[FXSCALPER2]

You need to get OCO and 'if done' orders ASAP, Marvin.

 

[laptop1]

I would disagree with that! The topic (in relation to Laptop's account) has been an openly discussed topic on this thread. It therefore follows that the thread would benefit from the concluding episode. Worldspreads clearly make various claims about the services they are prepared to provide to their clients. If Laptop's trading style has uncovered potential flaws in the company's system then it is not Laptop's fault nor is it his problem. It has been suggested that Laptop was trading slower prices. The company's T&C allow them to make prices how they see it. There is no obligation on the company's part to provide prices which are in line with any underlying market - this point is made clear. It therefore follows that Laptop has in no way breached the terms of the customer agreement yet has found his account restricted. The company may well argue that the Customer Agreement effectively withdraws their obligation to provide the services which they claim to offer. This is the grey area which I would strongly suggest that the board is really interested in.

Steve.

Hi Steve

The fact that Marvin have not even acknowledged this as a complaint up to this point is in contravention of FSA .If WS are to promote interface as an instant execution trading system then I expect to receive this level of service.But WS are not able to deliver this, whether that is through a lack of system capability or as a result of parameters within their procedures that disallow me to trade from instantly executing trades, then I would like to understand why this was not advised in WS promotional material?

The only qualification regarding instant execution on WS website, in my opinion, gives the impression that instant execution would be available unless there is to be a liquidity issue within the markets. If WS are not able to deliver this level of service due to a lack of system capability then it would suggest that WS should not be in the business of promoting instant execution.

 

[gle101]

You need to get OCO and 'if done' orders ASAP, Marvin.

I certainly agree, I am also looking forward to the implementation of these important features.

Capitalspreads have a handy feature that I would like WS to implement. One is able to close a position just by clicking close and confirm. It is extremely practical, especially while trading several lots.

 

[laptop1]

look how gle101 skiped past the last 3 posts, maybe because they where a little negative towards WS.
.

MarvinS,
Laptop has repeatedly asked if he can return to instant execution with World Spreads and you continuously ignore the question.
Eddie

Worldspreads clearly make various claims about the services they are prepared to provide to their clients. If Laptop's trading style has uncovered potential flaws in the company's system then it is not Laptop's fault nor is it his problem.. This is the grey area which I would strongly suggest that the board is really interested in.
Steve.

Hi Steve
If WS are not able to deliver this level of service due to a lack of system capability then it would suggest that WS should not be in the business of promoting instant execution.

gle101 Why didn't you answer the last few recent post , they are good points...

gle101 I have notice that you have made 61 post 55 of the post mentioned WS in them. What does this tell us. You was negative on TWF in one of the threads. a competitor to WS . gle101 we are not stupid on T2W

Its not just me, Marivn will not answer to. punter99 as to why he cant trade, also c6 is banned from trading at WS for making 250 quid. Marvin also ignores him. and me. Marvin all I can say, your PR stinks....

 

[gle101]

look how gle101 skiped past the last 3 posts, maybe because they where a little negative towards WS.
.



gle101 Why didn't you answer the last few recent post , they are good points...

gle101 I have notice that you have made 61 post 55 of the post mentioned WS in them. What does this tell us. You was negative on TWF in one of the threads. a competitor to WS . gle101 we are not stupid on T2W

Its not just me, Marivn will not answer to. punter99 as to why he cant trade, also c6 is banned from trading at WS Marvin also ignores him. and me. Marvin all I can say, your PR stinks....

I agree, Steve's post was a good one. I will reply to it shortly.

 

[gle101]

I would disagree with that! The topic (in relation to Laptop's account) has been an openly discussed topic on this thread. It therefore follows that the thread would benefit from the concluding episode. Worldspreads clearly make various claims about the services they are prepared to provide to their clients. If Laptop's trading style has uncovered potential flaws in the company's system then it is not Laptop's fault nor is it his problem. It has been suggested that Laptop was trading slower prices. The company's T&C allow them to make prices how they see it. There is no obligation on the company's part to provide prices which are in line with any underlying market - this point is made clear. It therefore follows that Laptop has in no way breached the terms of the customer agreement yet has found his account restricted. The company may well argue that the Customer Agreement effectively withdraws their obligation to provide the services which they claim to offer. This is the grey area which I would strongly suggest that the board is really interested in.

Steve.

Hi Steve,

Thanks for a good and constructive post!
I definitely understand your point but let's look at it from the Market Makers (MM) point of view. This is in order to understand why Worldspreads has reached their conclusion to react against some traders in the way they have done.

On the old platform, there was a real problem for WS, in lagging of quotes. This is one of a MM's dilemma, to handle a delay of prices so it won't upset the odds too much. Usually a wide spread naturally takes care of that. In combination with 1 point spread, this gives the short term trader an unfair advantage, I think we all now agree on this. So what are the options open to an MM in this situation, when the clients winning in percentage simply become too big, due to short term traders trading on the delay? To close down the account? To put the trader on referral to a dealer? To claim back the winnings from the trader? Think about it, if you own a SB company and find yourself in the same situation, what would be your solution to the problem? You would probably have the head management of the company and also the stockholders breathing down your neck, demanding a change in the situation. The solution to the problem has been, (before the upgrade) that some traders like me, were put on referral to a dealer. At the same time, Worldspreads initiated an extensive task on improving the speed of the platform.

So what has happened in laptop's situation now that Worldspreads have upgraded the speed of platform? What is the reason why he and others can't come back to trading with instant execution? Well, we actually do not know, as we hear only one side of the dispute, we don't know all the facts. It is a natural circumstance that in the business world one does not solve this kind of disagreement with clients on public forums like this one. Especially if it is a complex case and the counter part has filed a complaint against you. It simply isn't done that way, I do hope you understand this fact. As I read the situation, laptop and others have to wait until their dispute is settled with WS outside the forum itself. They can certainly continue posting their side of the issue. However, honestly, I don't see this kind of action strengthening their position.

 

[Phil Mibbutz]

Surely the point is that if WS knew their prices were slow then they shouldn't have been accepting trades at all. Customers were effectively using their own time and money to develop WS's software platform. Maybe it's sorted out now, but by opening prematurely they've probably lost business -- and profit, because everyone knows that most spreadbetters lose money without any deliberate interference from delayed prices, requotes, etc.

 

[Legion]

Hi Steve,

Thanks for a good and constructive post!
I definitely understand your point but let's look at it from the Market Makers (MM) point of view. This is in order to understand why Worldspreads has reached their conclusion to react against some traders in the way they have done.

On the old platform, there was a real problem for WS, in lagging of quotes. This is one of a MM's dilemma, to handle a delay of prices so it won't upset the odds too much. Usually a wide spread naturally takes care of that. In combination with 1 point spread, this gives the short term trader an unfair advantage, I think we all now agree on this. So what are the options open to an MM in this situation, when the clients winning in percentage simply become too big, due to short term traders trading on the delay? To close down the account? To put the trader on referral to a dealer? To claim back the winnings from the trader? Think about it, if you own a SB company and find yourself in the same situation, what would be your solution to the problem? You would probably have the head management of the company and also the stockholders breathing down your neck, demanding a change in the situation. The solution to the problem has been, (before the upgrade) that some traders like me, were put on referral to a dealer. At the same time, Worldspreads initiated an extensive task on improving the speed of the platform.

So what has happened in laptop's situation now that Worldspreads have upgraded the speed of platform? What is the reason why he and others can't come back to trading with instant execution? Well, we actually do not know, as we hear only one side of the dispute, we don't know all the facts. It is a natural circumstance that in the business world one does not solve this kind of disagreement with clients on public forums like this one. Especially if it is a complex case and the counter part has filed a complaint against you. It simply isn't done that way, I do hope you understand this fact. As I read the situation, laptop and others have to wait until their dispute is settled with WS outside the forum itself. They can certainly continue posting their side of the issue. However, honestly, I don't see this kind of action strengthening their position.

Hang on a minute, The BOOKIES quotes may not reflect the underlying? Gle do you know what that means when the bookie states that to customers?

It means the bookmakers quotes may not reflect the underlying ie your FTSE feed etc. So now whats a customer to do ? Trade off the bookies Quotes? yes agree, only some customers cannot. They are banned for trading off bookies quotes, others are not banned for trading off bookies quotes.

Why Is This ?.

please gle hold to mind again that bookmakers state their quotes may not reflect the underlying... funny old game.

Why the discriminate against some customers and not others when all are trading off the one quote ie what worldspreads supply.

You keep saying worldspreads Have lagging quotes? lagging from what ? their quotes can only lag from themselves because their quotes again may not reflect the underlying. Thats worldspreads saying we know our price may not reflcet the underlying so dont complain if it doesnt, etc..

The are victims of their own terms and conditions, it seems. Now bookie whinges when customers execute swift trades and take their cash, why is the bookie moaning please?

Can they not learn to take some losses like traders? and stop their whinging?

 

[gle101]

Surely the point is that if WS knew their prices were slow then they shouldn't have been accepting trades at all. Customers were effectively using their own time and money to develop WS's software platform. Maybe it's sorted out now, but by opening prematurely they've probably lost business -- and profit, because everyone knows that most spreadbetters lose money without any deliberate interference from delayed prices, requotes, etc.

And by doing so, take away all the profit I made, no thank you, ha ha! No really, I think WS did the right thing. They had gone over to promoting the 1 point spread products, and could not really go back to 2 point spread again (or whatever they had earlier). I am quite sure that WS were not prepared for the huge interest that the 1 point spread caused, especially among the short term traders. The kind of losses they initially encountered on the 1point spread, meant that the short term trader could easily shoot away with a profit on the delay. I guess also WS didn't want to disturb the middle and long term traders by, as you suggest, altogether not accepting trades at all. It would have been devastating from a marketing and an economic point of view. This is only my personal point of view, but who knows?

 

[Legion]

Why the discriminate against some customers and not others when all are trading off the one quote ie what worldspreads supply.

Why the discriminate against some customers and not others when all are trading off the one quote ie what worldspreads supply.

answers anyone please? why duck the issue ?

 

[gle101]

Why the discriminate against some customers and not others when all are trading off the one quote ie what worldspreads supply.

Why the discriminate against some customers and not others when all are trading off the one quote ie what worldspreads supply.

answers anyone please? why duck the issue ?

Interesting post (no. 168) Legion,
I will for sure get back to you tomorrow, I need to get some sleep as well, ha ha!

 

[stevespray]

Interesting post (no. 168) Legion,
I will for sure get back to you tomorrow, I need to get some sleep as well, ha ha!

gle101 - I feel that you also need to clarify your position within the Worldspreads orangisation.

Steve.

 

[gle101]

gle101 - I feel that you also need to clarify your position within the Worldspreads orangisation.

Steve.

Steve,

I have already answered this question several times on the thread. Marvin has also confirmed it unequivocally, that I have no connection with Worldspreads whatsoever, apart that from being a trader, enough is enough.

 

[Legion]

Interesting post (no. 168) Legion,
I will for sure get back to you tomorrow, I need to get some sleep as well, ha ha!

Theres apparently plenty of time to sleep when we are dead (the point at which our present human identity ceases to be ,but err the energy forming the former continues ,according to thermodynamics 1 ,rolls onwards), as it has been said. Why put off until tomorrow what can be done today, as some may umm say..

 

[Priceman]

Can I just ask if gle101 is Marvin... he has left worldspreads so can't answer on their behalf anymore. Would make sense wouldn't it if he was

Vendor tag gone and now a trader amonst the rest of us... just me being too suspicious maybe?

 

[gle101]

Can I just ask if gle101 is Marvin... he has left worldspreads so can't answer on their behalf anymore. Would make sense wouldn't it if he was

Vendor tag gone and now a trader amonst the rest of us... just me being too suspicious maybe?

Hi Priceman,

Yes I think so, you are too suspicious. Maybe Marvin has already left his employment as the vendor tag is gone. I don't know. One thing I do know, my looking at this industry from a different perspective, brings out a lot of frustration from some members on this board. However, this frustration is acceptable from my standpoint, as long as it leads to a fruitful and constructive discussion.

 

[FXSCALPER2]

If you don't work in some way for WS, you certainly are a very peculiar individual. Also, you should stop flattering yourself, if I may say so: 'different perspective'? Some of us have been doing this stuff for a while, and, I don't see any new perspective here. You are defending WS all the time. You may be right or you may be wrong, but it makes no sense at all. So, you just reply the way you do to everyone who has any objection whatsoever to WS several times a day and you have no vested interest? That, my dear fellow, is very intersting, to say the least.

Hi Priceman,

Yes I think so, you are too suspicious. Maybe Marvin has already left his employment as the vendor tag is gone. I don't know. One thing I do know, my looking at this industry from a different perspective, brings out a lot of frustration from some members on this board. However, this frustration is acceptable from my standpoint, as long as it leads to a fruitful and constructive discussion.

 

[gle101]

If you don't work in some way for WS, you certainly are a very peculiar individual. Also, you should stop flattering yourself, if I may say so: 'different perspective'? Some of us have been doing this stuff for a while, and, I don't see any new perspective here. You are defending WS all the time. You may be right or you may be wrong, but it makes no sense at all. So, you just reply the way you do to everyone who has any objection whatsoever to WS several times a day and you have no vested interest? That, my dear fellow, is very intersting, to say the least.

I like to contribute to this board, because the subject interests me. I will do it in anyway I like, as long as I follow the rules of this forum. If you have a problem with that, I certainly cannot help it. You are free not to read my posts, if they do not coincide with your own opinion.

 

[FXSCALPER2]

Of course you can, my dear man, of course you can. I like reading your posts and I agree with your opinion (what is your opinion, again?) In what way does the subject interest you? I have been trading with WS for three weeks now and I think they are very good.

It is just very odd for someone to defend a broker the way you do. But if you want to keep on looking peculiar, you need to take a chill pill and post away to your hearts content.

I like to contribute to this board, because the subject interests me. I will do it in anyway I like, as long as I follow the rules of this forum. If you have a problem with that, I certainly cannot help it. You are free not to read my posts, if they do not coincide with your own opinion.

 

[gle101]

Of course you can, my dear man, of course you can. I like reading your posts ands I agree with your opinion (what is your opinion, again?) In what way does the subject interest you? I have been trading with WS for three week now and I think they are very good.

It is just very odd for someone to defend a broker the way you do. But if you want to keep on looking peculiar, you need to take a chill pill and post away to your hearts content.

I like to discuss issues that concern this industry, as well as Worldspreads. WS is the one SB broker, that I find most interesting at the moment.

If I find incongruities in WS transactions, I will certainly write about them as well.