Zero Spread WorldSpreads

[twinj]

On the whole, I am happy with the execution when it goes through smoothly. However, there are times when this does not work. It is a shame that the price feed sometimes quotes a different price. This can be frustrating when you are losing money and the price is reducing your loss but the quoted price has frozen. During this time, the price could get worse and I would have missed an opportunity to get out with a smaller loss.

Another time, my entry point was disrupted due to the quoted price freezing. This is unfortunate because I am poised to enter and I enter barely one pip difference and you realise that the there is a price freeze when you are made to wait for the execution. I do hope that the prices don't freeze so much.

On a different note, I was wondering whether the hedging can be done more easily like in MT4. I wanted to hedge at one point but I forgot to tick the hedging box and closed the open trade. There is already a close button so I thought the trade button could be used to open positions. Then you don't need the hedging tick box. For people who want to simultaneously close the existing position and open a new one, I thought this is possible through the close button and then enter a different amount.

Don't get me wrong. I think the zero spreads are great. I have yet to trade during the news but when the prices are about to turn slowly, the execution has been great. I am only trading 1 pound per pip so far.

 

[Visaria]

Anyone else having problems logging in here/disconnecting?

 

[twinj]

Back running nicely. No freezing prices today for me. Simply great the zero spreads. Still 1 pound per pip and have yet to trade news.

One thing I would really appreciate is to keep the deal tickets open preferably multiple tickets. For those who are not familiar, there is a counter of 180 seconds and after that, the deal ticket closes automatically. I made a silly mistake by closing a trade instead of hitting cancel and opening another deal ticket. As the markets are volatile, If there was no timer, I don't have to close the deal ticket.

I am not sure why there is a timer as to the best of my knowledge, only Worldspreads have it. But the zero spreads are wonderful.

 

[twinj]

Correct me if I am wrong but zero spreads and other tight spreads last from 8 to 1600? I was wondering whether at least for currencies, it could start from say 7am? 7 to 8 is a pretty crucial time.

 

[Visaria]

Also, the zero spreads only operate between 8am and 4.30pm.

 

[Visaria]

Back running nicely. No freezing prices today for me. Simply great the zero spreads. Still 1 pound per pip and have yet to trade news.

One thing I would really appreciate is to keep the deal tickets open preferably multiple tickets. For those who are not familiar, there is a counter of 180 seconds and after that, the deal ticket closes automatically. I made a silly mistake by closing a trade instead of hitting cancel and opening another deal ticket. As the markets are volatile, If there was no timer, I don't have to close the deal ticket.

I am not sure why there is a timer as to the best of my knowledge, only Worldspreads have it. But the zero spreads are wonderful.

If and when they no longer like you, they may change the counter to smaller amounts of time. I can't totally recall, but Finspreads cut me to 5 secs! This was on their binaries though, might have been the same for other instruments, can't recall.

 

[supremegizmo]

The timer is set for people who just dont sit with their fingers on trade button to take benefit of bad pricing..

 

[Windowsill]

Back running nicely. No freezing prices today for me. Simply great the zero spreads. Still 1 pound per pip and have yet to trade news.

One thing I would really appreciate is to keep the deal tickets open preferably multiple tickets. For those who are not familiar, there is a counter of 180 seconds and after that, the deal ticket closes automatically. I made a silly mistake by closing a trade instead of hitting cancel and opening another deal ticket. As the markets are volatile, If there was no timer, I don't have to close the deal ticket.

I am not sure why there is a timer as to the best of my knowledge, only Worldspreads have it. But the zero spreads are wonderful.

You will also find that when its a bit volatile you may ask for a specific stop. However that appears to be just a general guideline as far as worldsprds are concerned. So after placing the trade you need to recheck the stop distance.

 

[twinj]

Hi guys,
been waiting for a reversal in EURUSD and AUDUSD. What a shame that the price feed became errant. I could not get a trade in. I don't know why the price went a few pips down further when the market was moving gradually up. Why did such a thing had to coincide at that moment. Coming up to 20 pips now. I hope it is not a big move. Tough day for a contrarian.

Forgot to add, this kind of price error is not common.

It has grown into a 120 pip move. How very annoying even though I only trade 1 pound per point at the moment.

 

[potshot]

Reading some of the posts moaning about a £5000 deposit, it's not that big and at £10 a pip for every 10 trades thats £100 in the traders pockets or double on £20 a pip. I have a nat west account with a few grand in it doing nothing and my 6 month interest was 81p, yes 81p and thats their deposit account. I would rather stick it in a platinum account and get zero spreads than leave it in the nat west, nothing says you can't do £1 or £2 trades and there is a minimum trade size. Take advantage. Nobody has to miss out on the cashback offer if you do things right, nothing says if you open an ordinanry account you can't upgrade to a platinum account later.

 

[potshot]

On the whole, I am happy with the execution when it goes through smoothly. However, there are times when this does not work. It is a shame that the price feed sometimes quotes a different price. This can be frustrating when you are losing money and the price is reducing your loss but the quoted price has frozen. During this time, the price could get worse and I would have missed an opportunity to get out with a smaller loss.

Another time, my entry point was disrupted due to the quoted price freezing. This is unfortunate because I am poised to enter and I enter barely one pip difference and you realise that the there is a price freeze when you are made to wait for the execution. I do hope that the prices don't freeze so much.

On a different note, I was wondering whether the hedging can be done more easily like in MT4. I wanted to hedge at one point but I forgot to tick the hedging box and closed the open trade. There is already a close button so I thought the trade button could be used to open positions. Then you don't need the hedging tick box. For people who want to simultaneously close the existing position and open a new one, I thought this is possible through the close button and then enter a different amount.

Don't get me wrong. I think the zero spreads are great. I have yet to trade during the news but when the prices are about to turn slowly, the execution has been great. I am only trading 1 pound per pip so far.

I stopped using the their old platform via twowayspreads a few years ago, the freezing platform got too much for me in the end and the excuse was we are on an old server and when we move to a new one the prices won't freeze. I have only ever experinced price freezing on the worldspreads platform and no other platform. I would get compensated at times by twowayspreads for a freeze but I left because it started affecting my trading with having no confidence I would be able to exit a trade at the price I wanted to exit for and if thats the case I will stay where I am right now even though the zero spreads sound so go good.

Conor can you comment on your platforms freezing.

 

[nodga2000]

Are you still seeing the platform freeze? Spreads or no spreads, not much good if you can't get in/out!

I stopped using the their old platform via twowayspreads a few years ago, the freezing platform got too much for me in the end and the excuse was we are on an old server and when we move to a new one the prices won't freeze. I have only ever experinced price freezing on the worldspreads platform and no other platform. I would get compensated at times by twowayspreads for a freeze but I left because it started affecting my trading with having no confidence I would be able to exit a trade at the price I wanted to exit for and if thats the case I will stay where I am right now even though the zero spreads sound so go good.

Conor can you comment on your platforms freezing.

 

[Visaria]

It does occasionally freeze.

 

[Black Swan]

Reading some of the posts moaning about a £5000 deposit, it's not that big and at £10 a pip for every 10 trades thats £100 in the traders pockets or double on £20 a pip. I have a nat west account with a few grand in it doing nothing and my 6 month interest was 81p, yes 81p and thats their deposit account. I would rather stick it in a platinum account and get zero spreads than leave it in the nat west, nothing says you can't do £1 or £2 trades and there is a minimum trade size. Take advantage. Nobody has to miss out on the cashback offer if you do things right, nothing says if you open an ordinanry account you can't upgrade to a platinum account later.

If I could take a punt on the first SB firm to go pop and take client money down with them in a major way it'd be WS..why should anyone part with 5k to get access to a SB platform with FX rates (truly) no better than fxcm/alpari micro? Anyone falling for the zero spread nonsense needs help/therapy..

 

[Visaria]

Not true. I've traded the dax extensively with them and made quite a bit (cashed out the profits).

 

[Ross Spur]

When I was thinking of depositing £5k to upgrade my account to get zero spread, WS didn't seem to care much. Not sure if this was clever marketing or something to do with my past record (ie. not losing enough).

 

[potshot]

I opened a ordinary account a couple of days ago with twowayspreads but the nightmare of a freezing platform hit today and brought back horrible memories of trying to close or open a position and having to log in again. I don't think the zero spread is worth it unless the platform is reliable and on top of that I don't like it where the dealing ticket has a time out on it and having to pick buy or sell then confirm seemed like I had gone back 10 years in time. No other spreadbetting company has a dealing ticket like it and today as I was about to place a trade just as I clicked the dealing ticket disappeared, for me to see the market go in my direction. On top of the freezing platform their charts stopped working and I couldn't bring a chart up and forget about advanced charts because it comes up with an error message everytime. The same charts with other SB come up without a problem.

 

[potshot]

If I could take a punt on the first SB firm to go pop and take client money down with them in a major way it'd be WS..why should anyone part with 5k to get access to a SB platform with FX rates (truly) no better than fxcm/alpari micro? Anyone falling for the zero spread nonsense needs help/therapy..

I make you right black swan but if it was a better company then I would put the £5K in but in my naivety I thought there trading platform would of improved compared to their old platform.

 

[Pazienza]

Worldspreads is a bag of sweaty old balls. Avoid them, they suck pole, dude.

 

[nodga2000]

I was under the impression that all client money had to be segragated, I know some SBs do. Is this not the case with WS?

If I could take a punt on the first SB firm to go pop and take client money down with them in a major way it'd be WS..why should anyone part with 5k to get access to a SB platform with FX rates (truly) no better than fxcm/alpari micro? Anyone falling for the zero spread nonsense needs help/therapy..