I am thinking that with the amount of interest so far you guys are still awaiting the 'holy grail'.
However we are new and business generates business - what i mean by this is if we get business then we shall have the ammunition to provide you with that system. I am not saying that it will not happen but its not going to happen overnight. Without trying to sound omnipotent.....WS going 1 spread is one small step and one giant leap in SB...
However we are new and business generates business - what i mean by this is if we get business then we shall have the ammunition to provide you with that system. I am not saying that it will not happen but its not going to happen overnight. Without trying to sound omnipotent.....WS going 1 spread is one small step and one giant leap in SB...
MarvinS said:
But the Holy Grail as you put it already exists, its called Direct Access, then it comes down to choosing a broker.
Pls note the word broker...not trader, market maker, spread better, just broker pure and simple. Why over complicate Marvin, unless to make wads in the middle?
Spead Bet companies add nothing but merely take away. They advertise to the retail punter as 'on their side' but in fact are only, and quite rightly, on their own side.
Let the buyer (of this twaddle) be aware.
Jimbo - Brokers make as middle men so do market makers and spread betters, bottom line!
Spread betting firms do add value to tax dis-advantaged traders and yes we do promote to retail clients and some corporates. I would not call this industry twaddle, do not knock it Jimbo....
Spread betting firms do add value to tax dis-advantaged traders and yes we do promote to retail clients and some corporates. I would not call this industry twaddle, do not knock it Jimbo....
MarvinS said:
Dis-advantaged traders? What does that mean? You mean being able to trade on credit/borrowed funds/minimum deposit? Are they advantages, really? I don't think so. So what does it mean?
A coroprate client should only ever take an SB account if they could back to back it into the market - it which case they would probably get closed out pretty quickly in any case by the SB company. And their is a major clue!
Marvin, this is not a dig at you personally, but the whole SB thing - it is a scam born of greed and ignorance, period the end. For any trader, dis-advantaged or not (to use your parlance), its no more than a sandpit compared to the beach.
Remember how the sandpit got pretty gross pretty quickly after a few kids p-eed in it? It's the way its marketed that causes me a problem, and if you seriously believe that 'Holy Grail' is a marketing stance you should get out more!
wasp
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There is no advantage in SB if you can't even ensure you'll get filled once the SB twigs you know what your doing.MarvinS said:
The key factor that seperates SB's and DA is direct access do not care whether you win or lose, it is completely irrelevant to them. SB's on the other hand, have a great incentive to ensure as many lose as possible, despite how many clients do this quite easily by themselves.
Unless execution is automated with zero bias, SB's cannot be used seriously or trusted. Having tried numerous SB's them switching to DA, the difference is plain to see and trading the exact same trade on both options simultainously will show anyone the proof it happens. I have never used WS so may well be wrong, but the four others I have used, all did it.
IMO if your gonna lose money, lose it in the real world to other traders in a fair and impartial market, not to the CEO of some SB to pay for his yacht.
Sounds like sour grapes and that you two do not trade with SB firms.... So why are you writing on an SB thread? I was asked earlier by a member to answer questions regarding WS not to defend the SB industry. Getting back to the main point traders want:
24/5 trading
1/5 of a second pricing
accurate pricing
decent orders system
tight near market spreads
do not want to be read on closing
lower margins
Anything else?
Regards
MarvinS
24/5 trading
1/5 of a second pricing
accurate pricing
decent orders system
tight near market spreads
do not want to be read on closing
lower margins
Anything else?
Regards
MarvinS
peto
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Marvin said "tax dis-advantaged traders". For a trader profitable with direct access then this is the one aspect that could tempt them across. Assuming (and yes it's a big assumption!) they could stay profitable on the new platform, and they swing-trade for lots of points and relatively small commissions (read 'spreads' after they move over); then keeping all your booty from the tax-man without having to live in Bahrain must have some appeal. The ethics of this stance is another matter!
Racer said to me one thing that sticks in my head, "If you want to develop a reputation you must deliver what you are advertising". Not excatly in those words, but i agree with Racer - reputation is key! IG index and CMC are profitable for their own unique selling points at anyone given point and both have developed a great reputation. Perhaps both firms put together would be worth £2b together. Any views on how we can develop our reputation, other than keeping to promises?
MarvinS said:
It's not sour grapes...but its like the marketing of 'Sunny Delight' as a healthy drink for kids... it isn't , that was proven, and they had to change their stance.
You introduce all the above, it could be interesting, but I suspect very strongly you won't. One because you will squeeze yrself into oblivion given yr costs the other side (the skim I referrred to earlier) but more because that is not your target audience (back to marketing again). I trade from home and the ads all day on TV are about roling up c/c debts etc into one easy payment/loans/etc....this is your ultimate audience.
As for TAX disadvantage - ok, but you gotta make a profit first before tax is even an issue!
At the end of the day, you are trying to be a grocer when there are many wholesale marketers (the DA brokers) that will sell direct to the public.
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Agreed but your point about us being a grocers can be debated:
Cap spreads under London Capital Grp have a market cap of £45 bar.
IG index under IG grp holdings have a market cap of £700 bar.
Finspreads under IFX GRP have a market cap of £45 bar.
Cantor Index ?
City Index ?
Tradeindex?
Manspreadtrading?
CMC as per float article £1b.
I read an article recently that suggested the number of SB clients would increase to £1mill by 2010. So how many DMA clients do you think there are in the UK? I personally do not think skimming off the top is the key to establishing in this already saturated industry. Views please....
Cap spreads under London Capital Grp have a market cap of £45 bar.
IG index under IG grp holdings have a market cap of £700 bar.
Finspreads under IFX GRP have a market cap of £45 bar.
Cantor Index ?
City Index ?
Tradeindex?
Manspreadtrading?
CMC as per float article £1b.
I read an article recently that suggested the number of SB clients would increase to £1mill by 2010. So how many DMA clients do you think there are in the UK? I personally do not think skimming off the top is the key to establishing in this already saturated industry. Views please....
Going back to my original point all these firms are established therefore large budgets for systems therefore why have they not given you the holy grail? Is it greed? I can only promise you that in the long term if we ever became 1tenth of what these firms are today we would give you what you required.... Bottom line is we need you to get us there!