WorldSpreads

dcarrigan said:
2. All other SB companies have the option to refer clients. Remember we are a spread betting company and as much as traders dislike this fact, we do have the right to refer clients that we believe are systems trading and not trading the real market prices. FXsour grapes - we have many traders that have been in the SB scene for ages. We do not knock back winners
is the above your style of trading they dont like?
or is it the winning..
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You are a bookmaker, you make the price, and of course you are entitled to do that. You are not alone in scamming your clients through dis-ingenious advertising and the like (please see my thread about Fins- When is a trade not a trade). The whole s/s marketing angle is frankly a disgrace.

What in your quote above do you mean by 'systems trading'? You mean someone back-to backing you into the underlying because you mis-quoted and they were sharp enough to spot it? Or something else?

I have stood as a market maker in oil markets for many years in my previous incarnations...sometimes I got it wrong, I mis-priced - **** happens...and guess what? I had to eat it. Take the loss, and get on with it.

You cannot have your cake and eat it the way you want my friend. Refer to my earlier posts in this thread...your target market is not traders, I mean TRADERS - it is the beginner, the (no) hopers and the wishers. You have zippo experience , and you are bound to come across those with more - accept the fact.

Liven up- get on the pace, smell the coffee, and stop ripping off your clients...you carry on this way and you deserve reporting methinks
 
Good post jimbo

Worldspreads said on the phone to me, one of my trades was only 2sec, I would like them to show me this trade on this thread, if I did such a trade? most of my trades was minutes, Remember markets can move in 2 sec.

It comes down to this, I was taking money off them and they put a stop to it. I was only making an average of £320,00 a day, the time I was with them, it's not that I was breaking they piggy bank
 
64 million dollar question

laptop1 said:
I was only making an average of £320,00 a day, the time I was with them, it's not that I was breaking they piggy bank
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You make an average of £320'000 a day and your spreadbetting with worldspreads... Why change from direct access exactly? For the sake of .5 pips...? Surely with that skill, the extra .5 wouldn't be an issue...? especially when tht equates to a cool 64 million a year (with plenty of days off....!)... ;)
 
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Hi MarvinS

I've now opened a WS account. I like the simplicity of the platform (and the simplicity of the account opening proceedure!).

My only (constructive) criticism of the platform so far concerns - the small size of the graphics on the screen.

SUGGESTIONS -
In both Mozilla Firefox and Internet Explorer, the main price screens under the vatious tabs, COULD occupy a BIGGER proportion of the screen and fit on comfortably, without the need to use the scrollbars.
The trade order tickets COULD also be bigger. In turn, I would hope that this would make the writing/text bigger, as I DON'T want to end up with EYESTRAIN!

Thanks,
jtrader.
 
jtrader said:
Hi MarvinS

I've now opened a WS account. I like the simplicity of the platform (and the simplicity of the account opening proceedure!).

My only (constructive) criticism of the platform so far concerns - the small size of the graphics on the screen.

SUGGESTIONS -
In both Mozilla Firefox and Internet Explorer, the main price screens under the vatious tabs, COULD occupy a BIGGER proportion of the screen and fit on comfortably, without the need to use the scrollbars.
The trade order tickets COULD also be bigger. In turn, I would hope that this would make the writing/text bigger, as I DON'T want to end up with EYESTRAIN!

Thanks,
jtrader.
Click to expand...


Good luck mate - judging by laptop1's experience, it would seem that you might have a hard time unless you intend to consistently lose...
 
chrisw said:
You make an average of £320'000 a day and your spreadbetting with worldspreads... Why change from direct access exactly? For the sake of .5 pips...? Surely with that skill, the extra .5 wouldn't be an issue...? especially when tht equates to a cool 64 million a year (with plenty of days off....!)... ;)
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I think he meant £320 a day, not £320,000..... :LOL:
 
Visaria said:
I think he meant £320 a day, not £320,000..... :LOL:
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Ah yes... 320K a day maybe a tad excesive, certainly for an SB!!! Just noticed the lack of an extra zero...:cheesy:
 
Visaria said:
I think he meant £320 a day, not £320,000..... :LOL:
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It was £320 quid a day......its not the point how much I made, The point is I was on 2 pips spread on EURUSD and 3 pips IT managed to set my platform up to 2 and 3 pips, everyone else was on 1 pip spread. :devilish:

Even with the wider spread I still made money with them, obviously they didn't like me continuously taking money off them.

Another thing, I tried to place a £25 bet on EURUSD the market was dull, it was trading 88 bid 90 offer,"remember I'm on 2 pips spread" anyway, I placed a sell @ £25 @ 88 on the dealer ticket, I waited for 20sec, :devilish: They offered me 85 to sell. the market had not moved that's another trick I had to contend with from them.
 
swissgold said:
Laptop1

Why don't you trade with ProActiveFutures, Mini Dow ($5) 1001 - 5000 contracts per month = $3.47 roundtrip http://www.proactivetrading.com
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I have a brokers account thanks, I trade s&p and EURUSD Futures $12.50 per pip. Like i said the only reason I went with worldspreads was becuse of the 1 pip spread, but as is documented they made my life hard.
 
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laptop1 said:
I have a brokers account thanks, I trade s&p and EURUSD Futures $12.50 per pip. Like i said the only reason I went with worldspreads was becuse of the 1 pip spread, but as is documented they made my life hard for me.
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thank for the info,saves me bothering with a account. could not understand 1 pip on dow . impossible to get that anywhere without com added.
 
Aren't their figures per side plus the underlying market spread ?

So 4001-10000 per month would be 1.8 point spread if and when the underlying market has a 1 point spread.

More realistic volumes like 251 - 1000 are equivalent to a $10 r/t commission with a futures broker.
 
I'll reserve any judgement on WS until I've actually traded with them.
But I am encouraged by what they are offering, and having spoken to them, i am optimistic that they can meet my needs.Time will tell.
If WS do not meet my needs, I will probably move my trading to a twowayfutures/futuresbetting account - switching from spot to futures forex.
 
From the TWF thread

eatontrade said:
Adrian,

You say on your website that you hedge all client positions in the underlying market and that your profits come from applying a spread to these. I dont understand how you can offer a 1 point spread on the eMini DOW, hedge yourselves in the YM contract and still apply any markup for yourselves, can you explain ?
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adrianbuthee said:
As you say, we apply a spread to the underlying market, which is where we make our money. The amount of spread we charge is a function of volume...the more you trade, the cheaper it is. This spread is basically our commission.

In essence, you place the hedge for us in the underlying market. The spreadbet / derivative is then instantly allocated to your account at the new spreadbet price (Market Price +/- our commission spread). We take no proprietary positions.

The 1 point refers to the Normal Market Spread on the Mini Dow, traded on the CBOT. The fixed spread we charge generally varies between 1pt and 0.18pts, dependant on volume. You also have the benefit of working orders on the market, so buying on the bid and selling on the offer, which in reality, allows your spreads to be cut to almost nil.

I hope this clears this up.

We do have a seminar in London tonight if you fancy learning a bit more about us.

Adrian Buthee
TwoWayFutures
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What is the point of offering 1 pip spreads, when one cant trade them, does not matter if one scalps or swing trades........

sorry sir we don't want you kind in here...That's the problem with Bucket shops
 
laptop1 said:
What is the point of offering 1 pip spreads, when one cant trade them, does not matter if one scalps or swing trades........

sorry sir we don't want you kind in here...That's the problem with Bucket shops
Click to expand...

I believe you but you haven't told us the full story. We need more details.
 
swissgold said:
I believe you but you haven't told us the full story. We need more details.
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What more do you need to know, I have said everything there is to say. look back on the thread.

Basically they don't like short term traders scaling in and out for short term moves.
 
laptop1 said:
What more do you need to know, I have said everything there is to say. look back on the thread.

Basically they don't like short term traders scaling in and out for short term moves.
Click to expand...
think we are getting mixed up with two companys now. swissgold seems to talking about fb or twf as it is sometimes known.
 
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