Worldspreads

[Yuppie13]

I really dont understand if your trading in any size, or certainly 20-30 r/t a day that you put up with any re-quotes, we all started with small accounts but then you have to step it up , which is what i did and joined ProSpreads, no re-quotes and they prefer scalpers as they have fixed spreads thats how they earn their money.

Hi, agree with you. Thinking about Prospreads currently, however I just don't like the MT platform. No charts, too much information etc. Would be nice if they offered a simple platform as well, if you use external charts anyway.

Reg. Worldspreads, again went 3 times on referral today, however was filled each time with positive slippage after 2-3 sec.

Think all in all referral is much better than wide spreads, stop fishing or widening spreads = all of which IG does f.ex.

 

[dmt257]

I have just been offered a free £5 bet on the ftse100 by these guys, in addition to my £300 cashback offer.

How exactly would this work? Does anybody know?

It would seem I have to place it before opening and it can be closed anytime during trading hours or they will close it when the market shuts.

It can't be £5/ pip, im a little confused. And, can I lose money on this?

I only trade Fx and silver but if its free I 'll take it

 

[geewcee]

I'm guessing that its not free but will be covered within the £300 losses. Problem is it could end up losing more than that if it goes against you badly. Your choice really, if you think you have an edge use it.

 

[hacks]

I have just been offered a free £5 bet on the ftse100 by these guys, in addition to my £300 cashback offer.

How exactly would this work? Does anybody know?

It would seem I have to place it before opening and it can be closed anytime during trading hours or they will close it when the market shuts.

It can't be £5/ pip, im a little confused. And, can I lose money on this?

I only trade Fx and silver but if its free I 'll take it

Was it offered by Worldspreads directly or by one of their white label partners? If its the latter, I think their T&C's state that losses will be refunded but profit is a maximum of £200.

 

[dmt257]

Was it offered by Worldspreads directly or by one of their white label partners? If its the latter, I think their T&C's state that losses will be refunded but profit is a maximum of £200.

Yeah WS directy.

I'll probably deposit with them tomorrow. Think i'll drop them an email now to see what is what.

 

[theghost]

Hello All.
I have an account at Worldspreads also.
I haven't been on the forum for yrs,, and just thought I'd look at a "Worldspreads" thread.
I have just read through all 17 pages.....
IE here
http://www.trade2win.com/boards/spread-betting/26914-worldspreads.html

I am shocked by the amount of (What I consider) is verbal defamation, malicious libel & slander. Let us remember;
Slander is; false statements that are harmful to a person's (Companies) reputation.

I truly find remarks like "Worldspreads is a disgrace to the industry." by traderx are completely groundless, very misleading and really,, traderx,,,you are walking on a very thin line here.

Even Potshot's "dealer's are very rude" comment I find incredulous.

Forums are designed to offer members the chance to voice & express their views positive & negative.
Whilst freedom of speech is a constitutional right, this should not mean that one uses a stage like Trade2Win forum
to churn what should be considered constructive criticism (which is perfectly acceptable) into misleading slanderous remarks.

I really am shocked at traderx's comments, and was wondering if he has taken up the CEO's offer (Mr.Conor Foley) to visit their companies HQ?
The level to which Tradex's remarks go to in terms of groundless calumny,, makes me concur that traderx might have some ulterior motive? Maybe trader x is possibly working for another SB company perhaps? & cheap shots at other sb companies are his thing?
Who knows. What I do know is Traderx,,
1. for the sake of karma, I really think you ought to reconsider your privileged role as a community member of this forum, and it is a privilege. Constructive FACTUAL criticism "YES" ,, welcome here,,, Verbal slander, not welcome anywhere & is on the verge of possible judicial proceedings in my eyes, as any company (Not just Worldspreads),
needs to protect its brand,corporate image & intellectual property rights.

Sure, companies get things wrong, requotes happen, dealer referrals happen,,, but, learn to trade well for the longer term. Try and catch trending moves also, 20-40pips/pt moves,, not just 1pt scalps and your primary focus will be shifted to the
process of trading well, NOT shying away from personal accountability,,& trying to blame the broker for your trading failings.

As a note;
I have visited Worldspread's office.
I have an account with Worldspreads.
I have had requotes. Some work for me/ some against me,, it's the nature of the beast,, especially in fast moving markets.

I was very impressed with their Company's ethics.
1 being, who responds from Worldspreads to this thread?
Namely the CEO himself! Even offering Traderx to visit his company,, IE COMPLETE TRANSPARITY!"

To sum up.
Trading is a 2 way street. You want to make money & the SB Company wants to make money. Neither party should have a problem with one another in this, neither can exist without the other.

Traderx, either take up Coner Foley's offer to visit their HQ, or take a break, a holiday, time to reflect & think about your comments, as you really do need to rethink what you think your right is here, regarding freedom of speech.
Alternatively traderx, maybe best you just call it a day, cancel your Trade2Win Account (As I'm sure the founders never esablished this forum to voice what is on the verge of libelous statements) and go elsewhere.

I for 1 am happy to say I am sticking with Worldspreads. I find them ethically (having meeting them face to face) a great & very transparent company to entrust my money with, & I am perfectly happy to trade with them.
All I must concentrate on is "The process of trading" & not any "Hickups" that might occur occasionally regarding order entries/exits
(Which in the real world is a pain yes, but is accepted as part and parcel in this game, and is NOT just a Worldspreads issue, but is GLOBALL SB Company one. ALL SPREADBETTING COMPANIES have these issues.

Worldspreads is a growing SB company, by this definition it must be doing things right. It has a very strong Management Team who are committed to taking Worldspreads to higher levels of customer service & product offerings.
This isn't some marketing speech I'm promoting here, I genuinely believe this 100% & I have no problem in endorsing Worlspreads to anybody wishing to enter the Spreadbetting Arena.

I thank you all for your time, (& hope Traderx visits Worldspreads as I did, gets counseling or leaves the board, slander isn't welcome here.
Worldspreads IS A GOOD SPREADBETTING COMPANY!
My money is with Worldspreads.
Best regards
TheGhost

 

[tar]

Worldspreads IS A GOOD SPREADBETTING COMPANY!

why ?

 

[Ross Spur]

Hello All.
I have an account at Worldspreads also.
I haven't been on the forum for yrs,, and just thought I'd look at a "Worldspreads" thread.
I have just read through all 17 pages.....
IE here
http://www.trade2win.com/boards/spread-betting/26914-worldspreads.html

I am shocked by the amount of (What I consider) is verbal defamation, malicious libel & slander. Let us remember;
Slander is; false statements that are harmful to a person's (Companies) reputation.

I truly find remarks like "Worldspreads is a disgrace to the industry." by traderx are completely groundless, very misleading and really,, traderx,,,you are walking on a very thin line here.

Even Potshot's "dealer's are very rude" comment I find incredulous.

Forums are designed to offer members the chance to voice & express their views positive & negative.
Whilst freedom of speech is a constitutional right, this should not mean that one uses a stage like Trade2Win forum
to churn what should be considered constructive criticism (which is perfectly acceptable) into misleading slanderous remarks.

I really am shocked at traderx's comments, and was wondering if he has taken up the CEO's offer (Mr.Conor Foley) to visit their companies HQ?
The level to which Tradex's remarks go to in terms of groundless calumny,, makes me concur that traderx might have some ulterior motive? Maybe trader x is possibly working for another SB company perhaps? & cheap shots at other sb companies are his thing?
Who knows. What I do know is Traderx,,
1. for the sake of karma, I really think you ought to reconsider your privileged role as a community member of this forum, and it is a privilege. Constructive FACTUAL criticism "YES" ,, welcome here,,, Verbal slander, not welcome anywhere & is on the verge of possible judicial proceedings in my eyes, as any company (Not just Worldspreads),
needs to protect its brand,corporate image & intellectual property rights.

Sure, companies get things wrong, requotes happen, dealer referrals happen,,, but, learn to trade well for the longer term. Try and catch trending moves also, 20-40pips/pt moves,, not just 1pt scalps and your primary focus will be shifted to the
process of trading well, NOT shying away from personal accountability,,& trying to blame the broker for your trading failings.

As a note;
I have visited Worldspread's office.
I have an account with Worldspreads.
I have had requotes. Some work for me/ some against me,, it's the nature of the beast,, especially in fast moving markets.

I was very impressed with their Company's ethics.
1 being, who responds from Worldspreads to this thread?
Namely the CEO himself! Even offering Traderx to visit his company,, IE COMPLETE TRANSPARITY!"

To sum up.
Trading is a 2 way street. You want to make money & the SB Company wants to make money. Neither party should have a problem with one another in this, neither can exist without the other.

Traderx, either take up Coner Foley's offer to visit their HQ, or take a break, a holiday, time to reflect & think about your comments, as you really do need to rethink what you think your right is here, regarding freedom of speech.
Alternatively traderx, maybe best you just call it a day, cancel your Trade2Win Account (As I'm sure the founders never esablished this forum to voice what is on the verge of libelous statements) and go elsewhere.

I for 1 am happy to say I am sticking with Worldspreads. I find them ethically (having meeting them face to face) a great & very transparent company to entrust my money with, & I am perfectly happy to trade with them.
All I must concentrate on is "The process of trading" & not any "Hickups" that might occur occasionally regarding order entries/exits
(Which in the real world is a pain yes, but is accepted as part and parcel in this game, and is NOT just a Worldspreads issue, but is GLOBALL SB Company one. ALL SPREADBETTING COMPANIES have these issues.

Worldspreads is a growing SB company, by this definition it must be doing things right. It has a very strong Management Team who are committed to taking Worldspreads to higher levels of customer service & product offerings.
This isn't some marketing speech I'm promoting here, I genuinely believe this 100% & I have no problem in endorsing Worlspreads to anybody wishing to enter the Spreadbetting Arena.

I thank you all for your time, (& hope Traderx visits Worldspreads as I did, gets counseling or leaves the board, slander isn't welcome here.
Worldspreads IS A GOOD SPREADBETTING COMPANY!
My money is with Worldspreads.
Best regards
TheGhost

How long have you been working for them?

 

[geewcee]

my words, some serious ass kissing in this thread!

 

[stevespray]

Hey Ghost,

Good post. Hope you didn’t pick up a repetitive strain injury typing it, it’s long and it’s only your fourth post in seven years!

To a large extent I agree with what you say regarding the way people use the boards to attack others when quite often these attacks are not justified. Personally I think that people often do that when they don’t have the skills needed to offer a reasoned argument – far easier to post slander and insults.


With regard to the matters at hand re World Spreads (WS). It is good that the head of the firm takes the time to address issues which clients have. You only have to look at the Capital Spreads thread to see how successful this approach has been. Whilst I realise that the chap in question is probably pretty busy it would be nice if he addressed a few of the points which have been raised over the last month or so. There does appear to be a bit of a backlog building in that respect.


You also mention that WS are trying to take their game to the next level with regard to service and product offerings. Again I would have to agree with you on that point and personally I’m really impressed with the whole ‘Zero Spread’ concept as it does genuinely open the door to ‘cost free trading’ which suddenly makes intra-day trading a financially viable opportunity.

Of course that implies that dealing and execution practices are fair. This is the bit that worries me the most. The whole process of WS needing to check client orders twice – once by computer when an order is first submitted and then again by a dealer some seconds later. This potentially opens the door for the firm to second guess the client. I’m not saying that they deliberately do that but I’ve noticed that I never get the message “The Price Has Moved Please Try Again” when the market has moved favourably for me, however, the price only has to move a tick or so against me and I get re-quoted.
In my opinion the firm could remove this issue by simply executing trades at ‘market or better’. In other words, if I’m looking to trade EURUSD and the quote is 1.4180 when I click ‘Buy’, if the price drops a few pips then I don’t need a re-quote, just fill it at the current quote the precise moment that the trade is executed. This method would also resolve the allegations which some people were making in previous posts regarding WS ‘waiting to see which way the price moved before accepting a trade’ – if a trade execution was delayed (deliberately or otherwise) then no benefit would be gained by either party because actual execution would occur based purely on the price at the moment of execution. So if a trade was delayed and the price moved in your favour the firm wouldn’t benefit from movement which occurred in the delay period. This would provide complete transparency for the firm because any ‘optionality’ which may or may not occur in the ‘dealer referral’ process would have no financial benefit for either party.


Steve.

 

[Ross Spur]

The problem seems to be that the 'zero spread' model can only be viable if the platform rejects trades that immediately go against WS.

 

[Black Swan]

I'm stunned that any (supposed) experienced trader actually believes there is such a concept as genuine zero spreads from any spread betting firm. The offer is there to entice the naive and inexperienced. The only benefit for zero would be if you scalp, and I don't mean attempting to take a few pips inside seconds off 1-3 min TFs, I mean proper scalping; exploiting pricing inefficiencies (in the eyes of the SB firm 'cheating')..You may get away with that for a while but the smaller the SB firm then the more likely you are to flag up..doh..

As for all the other complaints of poor fills, dealer referalls, constant slippge, platform freeze..etc .etc. I couldn't possibly comment as I 've never used their platform, what is curious is why so many SBers still believe there is a magic SB firm that'll suddenly transform their trading from poor to good. If you can't make money with IG, CMC, City, CS then don't scope the market looking for better, sort out your trading first.

 

[dmt257]

A follow up to my £5 free bet question from several posts back....

It is £5 per pip, any losses are written off. Max profit allowed is £200. Must be closed on day of opening the trade. Pretty sweet deal as it's in addition to the £300 cashback

 

[Conor Foley]

Hey Ghost,

Good post. Hope you didn’t pick up a repetitive strain injury typing it, it’s long and it’s only your fourth post in seven years!

To a large extent I agree with what you say regarding the way people use the boards to attack others when quite often these attacks are not justified. Personally I think that people often do that when they don’t have the skills needed to offer a reasoned argument – far easier to post slander and insults.


With regard to the matters at hand re World Spreads (WS). It is good that the head of the firm takes the time to address issues which clients have. You only have to look at the Capital Spreads thread to see how successful this approach has been. Whilst I realise that the chap in question is probably pretty busy it would be nice if he addressed a few of the points which have been raised over the last month or so. There does appear to be a bit of a backlog building in that respect.


You also mention that WS are trying to take their game to the next level with regard to service and product offerings. Again I would have to agree with you on that point and personally I’m really impressed with the whole ‘Zero Spread’ concept as it does genuinely open the door to ‘cost free trading’ which suddenly makes intra-day trading a financially viable opportunity.

Of course that implies that dealing and execution practices are fair. This is the bit that worries me the most. The whole process of WS needing to check client orders twice – once by computer when an order is first submitted and then again by a dealer some seconds later. This potentially opens the door for the firm to second guess the client. I’m not saying that they deliberately do that but I’ve noticed that I never get the message “The Price Has Moved Please Try Again” when the market has moved favourably for me, however, the price only has to move a tick or so against me and I get re-quoted.
In my opinion the firm could remove this issue by simply executing trades at ‘market or better’. In other words, if I’m looking to trade EURUSD and the quote is 1.4180 when I click ‘Buy’, if the price drops a few pips then I don’t need a re-quote, just fill it at the current quote the precise moment that the trade is executed. This method would also resolve the allegations which some people were making in previous posts regarding WS ‘waiting to see which way the price moved before accepting a trade’ – if a trade execution was delayed (deliberately or otherwise) then no benefit would be gained by either party because actual execution would occur based purely on the price at the moment of execution. So if a trade was delayed and the price moved in your favour the firm wouldn’t benefit from movement which occurred in the delay period. This would provide complete transparency for the firm because any ‘optionality’ which may or may not occur in the ‘dealer referral’ process would have no financial benefit for either party.


Steve.

Dear Steve and Ghost,

You raise a number of good points in your Posts, some in relation to the use of Forums (Fora?!) and others in relation to WorldSpreads, and I would like to respond to these.

1. Forum Comments
I'm all for Free Speech, as long as its factual and constructive!

It is very easy for an anonymous Poster to makes statements or claims about the service or treatment he has received from any firm but the Poster, I believe, must be prepared to give the firm, WorldSpreads or otherwise, an opportunity to respond to the claims. Part of the difficulty with this type of process, however, is that, with an online service, there is no basis for demonstrating whether the claims are accurate or not. The only fool-proof way for resolving these issues, as I see it, is for the Poster to come to the office and 'see for himself'. I could sit here all day and say "That's not how we deal with clients.", but it would be vacuous and would only result in a 'tit for tat'. I, therefore, repeat my invitation to anyone who has an issue with WorldSpreads to come in and see me and I will resolve it. We are centrally located in the City. For anyone who doesn't come to London frequently, I am happy to engage by telephone - 0207 398 5100. If you state you are calling in relation to a Trade2Win Forum issue, I guarantee I will take your call.

2. WorldSpreads Issues
Almost all of the critcism posted about WorldSpreads on this Forum relates to 'Trade Execution', notably in relation to Zero Spreads. We did a lot of serious thinking before we decided to launch Zero Spreads in September, 2010. In fact, we thought about it so much, we decided not to launch it until we scripted a 'Fairness Charter' that would accompany the launch. In essence, the Fairness Charter stated that we are happy to stand over Zero Spreads (in 10 markets) as long as we were satisfied that it wasn't being abused. It was designed for the regular trader who wanted to enter and exit the market at the best price. To that end, it has been very successful and we now have hundreds of clients doing thousands of trades per day on these markets. The 'silent majority', as opposed to the 'noisy minority' are not complaining. WorldSpreads is publicly quoted on the London Stock Exchange and I would not make these statements if I could not stand over them.

When I use the term 'abused' above, I am referring to the tiny minority of people who are only interested in trading Zero Spreads when they have an edge. By 'edge', I mean 'only dealing on a price when they know it is better than the market price'. The internet is not a perfect medium. There will be occasions when our derived prices take a millisecond to catch up with the underlying market and it is possible to sit there taking a tick here and a tick there. If that is your trading style, then WorldSpreads is not for you and when we identify clients with this style of trading, we have no alternative but to put them on Dealer Referral (or offer to quote them wider spreads). The ability to "take a tick here and a tick there" is only possible because we offer Zero Spreads. Firms that don't offer Zero Spreads are not exposed to this (because they have the protection of a wider spread) and hence they don't come in for the criticism that WorldSpreads has come in for on this matter.

WorldSpreads has no desire to put ANY clients on Dealer Referral. It just results in more work for the Traders, so why would we have any interest in doing it? The ONLY time a client is put on Dealer Referral is when he/she is suspected of price abuse. I am personally prepared to investigate every single instance of a client being put on Dealer Referral and I am happy to do it openly in this Forum, with the Results being made transparent. If any client doubts the integrity in the (zero spreads) prices we quote on Dealer Referral online, he/she is welcome to deal on zero spreads by telephone all day.

In summary, if you want to trade the most popular markets at the best spreads (zero spreads in many cases) then WorldSpreads is the place to do it. If you are only interested in trading if you have an edge on the price, then WorldSpreads is not for you. We could solve this problem by scraping Zero Spreads and returning to 'normal' spreads, but we don't believe the 'silent majority' should suffer because of the behaviour of the few.

Regards,

Conor Foley
CEO
WorldSpreads
[email protected]

 

[Conor Foley]

<<Conner, with all due respect, your company seems to be taking a bit of a battering on here at the moment, any chance that you could address these points for us?>>

Very little chance, I suspect. This is clearly how some SBs operate and goes directly against MiFID, as you say, but the standard defence seems to be that they have no obligation to accept any trade. The customer, on the other hand, is always obliged to accept a trade that goes against them.

You could always video the evidence and send it to the FSA and/or FOS.

Dear Ross,

Would you like to come in to the office and spend a few hours monitoring how trades are handled/accepted?

There's an open invitation whenever you would like to avail of it.

I'm perfectly happy for you to post your experiences here, psoitive or negative, after you have seen it for yourself.

Regards,

Conor Foley
CEO
WorldSpreads

 

[tar]

Conor

@ Dealer referral excuses : We've heard it all before from Simon ( Capitalspreads ) , no new in your post .

I advice any client who thinks he is not treated fairly to complain to the financial Ombudsman Service , including those who are on a dealer referral and are affected by it .

http://www.financial-ombudsman.org.uk/

http://www.financial-ombudsman.org.uk/consumer/complaints.htm

Best Regards

 

[geewcee]

I am personally prepared to investigate every single instance of a client being put on Dealer Referral and I am happy to do it openly in this Forum, with the Results being made transparent.

Ok Conor I'll bite (good to see you post here btw).
I was very happy with the service I was getting from Worldspreads until I was put on permanent referral. I am a small fish with a small account, I never traded forex or any of your zero spread items. In fact I am a position trader so have no need for scalping or taking advantage of millisecond differences in pricing!
If you can give me a legitimate reason on why I was put on dealer referral then I might even come back. I tended to establish several new positions once or twice a week but I got bored of waiting constantly to open trades.
My account ID was 5002142.

 

[Ross Spur]

[email protected][/email]

Thanks for posting, but I find it hard to follow the reasoning here. If you offer zero spread on something like an index future, say US30, your price will represent the bid or the offer if the spread is its normal 1pt, or somewhere in the middle if the spread widens. The 'edge' you're talking about is therefore being given to the client by Worldspreads, which is the customer carrot, of course.
But then you say you have to weed out anyone who actually benefits from this edge. How does that make sense? Do you expect clients to sit watching their alleged high-speed price feeds waiting to click the trade button only when the WS price is going against them?

<< If any client doubts the integrity in the (zero spreads) prices we quote on Dealer Referral online, he/she is welcome to deal on zero spreads by telephone all day. >>

What would that prove? Dealing my telephone is about as quick as dealing by carrier pigeon or smoke signals, so a theoretical zero spread wouldn't be any help.

Please explain how your dealer referral policy squares with the parts of MiFID concerning discrimination and best execution.

 

[Chubbardo]

WS order execution is rubbish. My account has the standard spreads so I don't benefit from the zero spread gimmick at all. I have run a trade by trade comparison with capital spreads and placed the same trade on both my WS and CS accounts. WS market orders are rejected all the time. CS no problems. If price moves too far then I just give up on trying to place the order with WS. On the occasions I do get an order through... when it's time to get out... same drama at the exit. On average I make about 10 pips less on the WS trade than I do on the CS trade. On losing trades its about 5-10 pips more with WS. You'll notice the slippage on losses are less... which I put down to the system not having a problem accepting a trade thats in a loss... and rejecting more times those that are in profit.

 

[stevespray]

Hi Conor,

Thanks for dropping in again to answer some of the questions. Needless to say that there seems to be a few points which a few clients wish to debate. If I could add one or two points of my own…


You mention that there are people who are only interested trading on zero spreads if they have ‘an edge’. You define your interpretation of what that edge constitutes and imply that it is occasions when WS’s price is slightly slow in updating.

I would argue that letting any client trade on a zero spread is handing the client ‘value’ because the client will always be trading at a price no worse than the market and sometimes trading at a price which is better than the market. Obviously with a zero spread your price can only reflect the ‘bid’ or the ‘ask’ at any given time – if your quote happens to be representative of the bid (in the underlying) then any client who buys from WS is buying at a price not available anywhere else and as such you’re giving away at least half a pip by allowing a client to open a trade. If the same method is used to close a trade then you’re giving away at least half a pip (on average) again and thus you’ve given away one whole pip in value on a complete trade. Obviously a client cannot trade purely using that method but that methodology can be used and applied to another trading method to squeeze a bit more from it.


In terms of clients who are trying to pinch ‘a tick here and a tick there’… surely their trading patterns identify them? Trades lasting five seconds? Hundreds of trades per day? Personally I feel that I was put on ‘dealer referral’ (DR) purely because I was profitable. I’m more than happy to discuss matters via this thread. When I was placed on DR I actually phoned the dealing desk and spoke to someone there. The dealer was polite and we had a good, open and informative chat about things. I did however get the impression that things are slightly different to the things that you have outlined in your post. For instance I established that my account wasn’t necessarily considered to be an account which was taking advantage of any slow prices. In fact my trading tends to take place when markets are slightly less volatile where ‘market noise’ is around four or five pips in size. Instead, dealing staff were concerned that some of my trades lasted only a minute or two. It was the length of time which some of the trades lasted which seemed to be the issue. If you look at my recent account history going back over the last month or so then you’ll see that I’ve still made several thousand pounds – all this money was made on DR. I still have trades which last only a few minutes although I also have plenty of trades which last considerably longer. Obviously your prices do not lag by a few minutes.

No question that DR does have an unfavourable impact on trading. If you went back over my trading record then you’d find that there are many occasions where trades are processed by your dealing staff at prices which do not reflect improvements in price which have occurred during the time which lapses during the DR process. Needless to say, normally a tick or more against my position results in a “please try again” message despite the fact that this movement occurred well after my order was submitted! Clearly if I’m still making money despite being on DR then I’m not cheating you on slow prices but I remain on DR. I’m more than happy for you to look into this and report back.

One question which I would like answered is the following; Why is it necessary to have two checks regarding price? First check is made by your computer system a second or so after I have clicked the buy or sell button and checks to make sure that the price hasn’t moved during the order submission process. A second check is then made by dealing staff – surely, if acting fairly, the dealing staff are just double checking what the computer has already checked?


Finally, out of interest, what is wrong with the suggestion which I posted earlier in the thread; if someone places a trade which goes for DR then why not just automatically fill it at a better price if the price has moved favourably for the client during the DR process? The dealing staff would still be able to monitor what certain clients were doing and indeed process those clients manually but clients would be safe in the knowledge that any positive price movement which occurred during the DR delay would be passed on. Obviously price movements which did not favour the client would result in trade refusals just like they do now.


Wishes,
Steve.