Spreadbetters

This is a discussion on Spreadbetters within the First Steps forums, part of the Reception category; Good Afternoon,just to introduce myself.My name is mike and i live and TRY to trade for a living in Luton ...

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Old May 20, 2008, 3:12pm   #1
Joined Apr 2006
Spreadbetters

Good Afternoon,just to introduce myself.My name is mike and i live and TRY to trade for a living in Luton Beds.
Spread betting firms i,m finding can be the pits, unfilled orders,not opening trades when the market opens, like this morning with Easy2spreadbet the whole FSTE100 was closed.I suppose it,s welcome to the world of Brokers.Its a bit disconcerning when you are fairly new to all of this.I,ve stopped putting in orders for now as they never get filled.Anybody else have the same probs.
Regards M,ike..
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Old May 20, 2008, 3:45pm   #2
 
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Originally Posted by rosewood fox View Post
Good Afternoon,just to introduce myself.My name is mike and i live and TRY to trade for a living in Luton Beds.
Spread betting firms i,m finding can be the pits, unfilled orders,not opening trades when the market opens, like this morning with Easy2spreadbet the whole FSTE100 was closed.I suppose it,s welcome to the world of Brokers.Its a bit disconcerning when you are fairly new to all of this.I,ve stopped putting in orders for now as they never get filled.Anybody else have the same probs.
Regards M,ike..
I trade with finspreads (a cityindex firm) and have an account with capital spreads.

I dont have the problems you mention and have been an active user with fins for many years.

Switch brokers or at least have another one on standby, if one mess's you around then use the other.

Also, mention your problems to your broker, if unresolved then simply switch, you learn a lot about a company when you have a problem and if not resolved satisfactorily then you know what to do. Complain with your feet.
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Old May 20, 2008, 4:05pm   #3
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rosewood fox started this thread Thank Lee,i,m looking at GFT they seem o.k. had a session with them over the internet seem o.k. but you never know do you.
Cheers Mike..
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Old May 20, 2008, 5:40pm   #4
 
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Gow with IG. They are very good.
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Old May 20, 2008, 5:42pm   #5
 
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Gow with IG. They are very good.
Yep. I have heard dodgy stories with every other company.
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Old May 20, 2008, 5:45pm   #6
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Its a good idea to have two spreadbetting accounts. There wil be times when one a position cannot be closed with one due to tech problems or whatever - but you can then always open an oppposing position in the same market with the other firm to limit any damage.
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Old May 20, 2008, 9:29pm   #7
 
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I would recommend IG Index without hesitation. I also use Capital Spreads and never had a problem with either of them. Practically instant fulfilment and you can close trades at the price you see with a single click of the mouse. Unless the market has gone really wild...
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Old May 20, 2008, 9:48pm   #8
 
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I would recommend IG Index without hesitation. I also use Capital Spreads and never had a probleem with either of them. Practically instant fulfilment and you can close trades at the price you see with a single click of the mouse. Unless the market has gone really wild...
Agree completely.

I have accounts with quite a few SB Co's but use IG, CapSpreads and CMC every day and I have had no probs at all since last May ('07) when I went full time. Have met some of the guys that work for those firms, and they're ok.

I don't trade the news, prices move to quickly, so you'll get let down. Common sense really.

Trade ~ don't gamble
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Old May 20, 2008, 11:15pm   #9
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i like the gft trading platform. but keep hearing bad stuff .
IG are the way around here, they probably closed trading this morning since they knew they would lose quite a bit (if people were sensible enough to short).
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Old May 21, 2008, 5:01am   #10
 
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IG are the way around here, they probably closed trading this morning since they knew they would lose quite a bit .

Why would a bookmaker close his doors if he knew a few 'favourites' were going to win today ?

Your comment doesn't make sense.
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Old May 21, 2008, 9:37am   #11
 
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Gow with IG. They are very good.
Agreed
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Old May 21, 2008, 9:46am   #12
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rosewood fox started this thread I take it that if the Brokers cant hedge then they close the market as they will loose to much, I weep for them.
KillPhil what do you hear about GFT.
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Old May 21, 2008, 10:08am   #13
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Originally Posted by rosewood fox View Post
Good Afternoon,just to introduce myself.My name is mike and i live and TRY to trade for a living in Luton Beds.
Spread betting firms i,m finding can be the pits, unfilled orders,not opening trades when the market opens, like this morning with Easy2spreadbet the whole FSTE100 was closed.I suppose it,s welcome to the world of Brokers.Its a bit disconcerning when you are fairly new to all of this.I,ve stopped putting in orders for now as they never get filled.Anybody else have the same probs.
Regards M,ike..
You are doing something wrong, mate. I was opening short positions on shares, yesterday morning and the Fins platform was as good as gold. Also, traded the Footsie several times. I've opened positions on shares this morning and no problems.
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Old May 21, 2008, 10:15am   #14
 
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I take it that if the Brokers cant hedge then they close the market as they will loose to much, I weep for them.
KillPhil what do you hear about GFT.
Generally rare but if they cannot hedge the excess on their books then you will not get filled. This generally only happens in fast illiquid markets. I've never experienced this with the brokers I've used over the years I've been trading (full time/daily).

Whether they decide to fill you or not is up to the individual company themselves but its easy to reason with that if they cant buy/sell the contracts directly then you cant buy/sell them either.

This happens in Direct Market Access as well as spreadbetting companies. Just because you want to buy or sell a particular instrument does not mean that you will get filled at the prefered price and in some cases not filled at all.
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Old May 21, 2008, 10:20am   #15
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rosewood fox started this thread Thanks guys useful info.I had to ring up to get the order filled a few days ago and they filled as a matter of urgency thats what they said to me anyway.Phil i must be but i don,t know what it is i,ll figure it out.I know the first mistake i made with an order some months ago was to expect the closing price the next morning what a wally.Still i live and learn.
Cheers Mike...
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