Spreadbetting Company reviews for use with Forex Net Trap

This is a discussion on Spreadbetting Company reviews for use with Forex Net Trap within the Forex Net Trap forums, part of the T2W Archive category; It seems to me you would have to be trading at a big level where the slippage and spread would ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Oct 3, 2010, 4:11pm   #46
 
peterf1966's Avatar
Joined Feb 2010
Re: Spreadbetting Company reviews for use with Forex Net Trap

It seems to me you would have to be trading at a big level where the slippage and spread would be potentially in the 1000's of pounds to make it worth your while paying income tax on traders income. The revenue would rightly tax you on your income if it were solely earned through the proits from spread betting. Wouldn't you be better off having a job of some sort - part time, self employed etc, with which you could argue that was your main employment, and keep your SB profits tax free.

At the seminar from K2A I went to, that's what they said they were doing - their taxable income was the wage they got from seminars and flogging overpriced courses, their real income was tax free trading.
peterf1966 is offline   Reply With Quote
Old Oct 4, 2010, 8:13pm   #47
Joined Sep 2010
Re: Spreadbetting Company reviews for use with Forex Net Trap

Can anyone help? I have a blackberry with virgin mobile and I can't connect to IG Index mobile dealing service, anyone know the APN and password required???

Keeps giving error code E201 or E203?
rainmaker964 is offline   Reply With Quote
Old Oct 4, 2010, 8:19pm   #48
 
peterf1966's Avatar
Joined Feb 2010
Re: Spreadbetting Company reviews for use with Forex Net Trap

Quote:
Originally Posted by rainmaker964 View Post
Can anyone help? I have a blackberry with virgin mobile and I can't connect to IG Index mobile dealing service, anyone know the APN and password required???

Keeps giving error code E201 or E203?
I know Rugby trader had all sorts of probs with blackberry, he may know, I'm sure IG will help.
peterf1966 is offline   Reply With Quote
Old Oct 4, 2010, 8:20pm   #49
 
mark120169's Avatar
Joined Apr 2010
Re: Spreadbetting Company reviews for use with Forex Net Trap

mark120169 started this thread
Quote:
Originally Posted by rainmaker964 View Post
Can anyone help? I have a blackberry with virgin mobile and I can't connect to IG Index mobile dealing service, anyone know the APN and password required???

Keeps giving error code E201 or E203?
I get this from time to time on my Sansung Genio Slide 3G. In my experience it is more to do with the 3G / MMS internet playing up than a problem with IG. You will find the next day it works fine.

M
mark120169 is offline   Reply With Quote
Old Oct 6, 2010, 1:59pm   #50
Joined Apr 2008
Re: Spreadbetting Company reviews for use with Forex Net Trap

Quote:
Originally Posted by peterf1966 View Post
I know Rugby trader had all sorts of probs with blackberry, he may know, I'm sure IG will help.
nope, couldn't figure out how to get it to work.
got me an iphone instead and my life is a lot easier!

wish tradefair would come out with an app though, I use them for INT due to the 2 pip spread.
Rugby Trader is offline   Reply With Quote
Old Oct 6, 2010, 3:43pm   #51
Joined Apr 2009
Re: Spreadbetting Company reviews for use with Forex Net Trap

Quote:
Originally Posted by rainmaker964 View Post
Can anyone help? I have a blackberry with virgin mobile and I can't connect to IG Index mobile dealing service, anyone know the APN and password required???

Keeps giving error code E201 or E203?
I tried various things and finally I called IG to see if they could help. They told me how I needed to set up my blackberry to make it work, so I did what they said and it still didn't work.

I then gave up as it seemed like a lot of wasted effort. I just make sure I'm at an internet connection/my laptop when I need to be.

Sorry I couldn't be more helpful rainmaker
CCJoff is offline   Reply With Quote
Old Oct 6, 2010, 6:37pm   #52
Joined Sep 2010
Re: Spreadbetting Company reviews for use with Forex Net Trap

Quote:
Originally Posted by CCJoff View Post
I tried various things and finally I called IG to see if they could help. They told me how I needed to set up my blackberry to make it work, so I did what they said and it still didn't work.

I then gave up as it seemed like a lot of wasted effort. I just make sure I'm at an internet connection/my laptop when I need to be.

Sorry I couldn't be more helpful rainmaker
Not great news but thanks all for your help.....I really need it to work so anyone with any tips please advise.
rainmaker964 is offline   Reply With Quote
Old Oct 26, 2010, 3:43am   #53
Joined Jun 2006
Re: Spreadbetting Company reviews for use with Forex Net Trap

Hi,

I've just received the original FNT manual. Unfortunately, I have no chance of opening a spread trading account with IG whilst living in Japan.

I see that RH suggests ODL Markets as an alternative. Has anyone tried them for FNT, please?

Also, I currently have accounts with the following companies:
WorldSpreads, Gekko, TD Waterhouse, Saxo Bank, and Capital Spreads.
Does anyone have any comments about their performances with FNT, please?

I'm attracted to Gekko for their free guaranteed stop loss, but would I have any need for it?

I have access to ETX charts through someone else's account but if there are no recommendations for any of the above or ODL, then maybe I'll try to open my own account with them.

Any extra suggestions and advice would be greatly appreciated, thanks.
H5N1 is offline   Reply With Quote
Old Oct 26, 2010, 7:20am   #54
 
mark120169's Avatar
Joined Apr 2010
Re: Spreadbetting Company reviews for use with Forex Net Trap

mark120169 started this thread
Quote:
Originally Posted by H5N1 View Post
Hi,

I've just received the original FNT manual. Unfortunately, I have no chance of opening a spread trading account with IG whilst living in Japan.

I see that RH suggests ODL Markets as an alternative. Has anyone tried them for FNT, please?

Also, I currently have accounts with the following companies:
WorldSpreads, Gekko, TD Waterhouse, Saxo Bank, and Capital Spreads.
Does anyone have any comments about their performances with FNT, please?

I'm attracted to Gekko for their free guaranteed stop loss, but would I have any need for it?

I have access to ETX charts through someone else's account but if there are no recommendations for any of the above or ODL, then maybe I'll try to open my own account with them.

Any extra suggestions and advice would be greatly appreciated, thanks.
Capital Spreads has a 2 pip spread. they all have similar disadvantages as far as i know so CS would be my choice.

M
mark120169 is offline   Reply With Quote
Old Oct 26, 2010, 3:31pm   #55
Joined Jul 2010
Re: Spreadbetting Company reviews for use with Forex Net Trap

Have you got any comments on Gekko? I have their demo account, but interested in getting the real thing on account of their small bet sizes. Not so much for NT, more for testing new systems without risking too much.

Quote:
Originally Posted by H5N1 View Post
Hi,

I've just received the original FNT manual. Unfortunately, I have no chance of opening a spread trading account with IG whilst living in Japan.

I see that RH suggests ODL Markets as an alternative. Has anyone tried them for FNT, please?

Also, I currently have accounts with the following companies:
WorldSpreads, Gekko, TD Waterhouse, Saxo Bank, and Capital Spreads.
Does anyone have any comments about their performances with FNT, please?

I'm attracted to Gekko for their free guaranteed stop loss, but would I have any need for it?

I have access to ETX charts through someone else's account but if there are no recommendations for any of the above or ODL, then maybe I'll try to open my own account with them.

Any extra suggestions and advice would be greatly appreciated, thanks.
tradeviking is offline   Reply With Quote
Old Oct 26, 2010, 4:39pm   #56
did
Joined Oct 2010
Re: Spreadbetting Company reviews for use with Forex Net Trap

Quote:
Originally Posted by rainmaker964 View Post
Can anyone help? I have a blackberry with virgin mobile and I can't connect to IG Index mobile dealing service, anyone know the APN and password required???

Keeps giving error code E201 or E203?
Ring IG. I had the ame problem with BB but I'm on o2 and found what you are looking for here

http://portal.igindex.co.uk/support/...00000001UmLAAU

unfortunately it doesn't list virgin mobile but they obviously know about this problem so if you speak to someone on thei helpdesk they ought to be able to help ou out. since getting it working it's been generally fine for me.
did is offline   Reply With Quote
Old Oct 27, 2010, 3:03am   #57
Joined Jun 2006
Re: Spreadbetting Company reviews for use with Forex Net Trap

Quote:
Originally Posted by tradeviking View Post
Have you got any comments on Gekko? I have their demo account, but interested in getting the real thing on account of their small bet sizes. Not so much for NT, more for testing new systems without risking too much.
Maybe problems I didn't notice when losing money last year trying another "set & forget" system.

Main gripes then were:
finding my bank were taking minimum charge each time I topped up in small amounts because Gekko used a Swedish(?) firm to process the payments by debit card,
and
that with sub-accounts set up there was no way that I found to see overall position, also hard to identify individually because only the number is listed.
Recently joined CAC/DAX Daily Index Trader, seen complaints about fixed spreads that aren't, trades that disappear, don't show up, or don't open, and poor customer service, so a little less in favour now.

Would probably use them if guaranteed stops were essential, also would have to consider putting larger sums in to avoid paying bank more in charges that I could get in interest.
H5N1 is offline   Reply With Quote
Old Oct 27, 2010, 8:10am   #58
Joined Jul 2010
Re: Spreadbetting Company reviews for use with Forex Net Trap

Gekko is also currently offering 25% bonus on your initial opening deposit...trouble is to keep this bonus you then have to trade the full amount ie £200 bonus you;d have to do something like 100 trades @ £2, or 200 @ £1....which kind of counters their small bet size selling point. It means you'd be stuck with them a LONG time before being allowed to keep this "bonus".

Quote:
Originally Posted by H5N1 View Post
Maybe problems I didn't notice when losing money last year trying another "set & forget" system.

Would probably use them if guaranteed stops were essential, also would have to consider putting larger sums in to avoid paying bank more in charges that I could get in interest.
tradeviking is offline   Reply With Quote
Old Nov 19, 2010, 6:36pm   #59
 
6 Posts
Joined Nov 2010
Re: Spreadbetting Company reviews for use with Forex Net Trap

Quote:
Originally Posted by tradeviking View Post
Have you got any comments on Gekko? I have their demo account, but interested in getting the real thing on account of their small bet sizes. Not so much for NT, more for testing new systems without risking too much.
Greetings All,

Tradeviking, when you say Gekko, do you mean Shortspreads.com (owned by Gekko & Agora) which the FNT v.2 is revision is based around (as opposed to IG Index in v.1)?

If so caveat emptor (buyer beware)!!

I'm still only demo trading yet seem to experience serious slippage from closing trades (apologies no records kept yet - I'm so new to all this [any help with Mark's, et al comprehensive spreadsheets appreciated]). Started using RSI / MACD indicators & found trades going off-chart i.e. no independent scrolling options; RSI also floats in & out of view heading north or south as the mood takes it.

They do offer 25% of your initial pot, up to £500 max. as a joining bonus & I can see why. Had a look for them on www.forexpeacearmy.com - nothing; input their name (i.e. "shortspreads.com" review) into Google - it found 2 pages!!!!!

There's nothing wrong with them being new (being a forex newbie myself, I can honestly say that I don't understand all that I read within this forum), everyone has to start from somewhere, but at the moment they just aren't there yet. My comparison is Oanda (unfortunately not s/b account) which has none of these issues, however I'm heartened to read about SML - will give them a try shortly

Hope this helps

PS: Should've mentioned, demo trading has been with 5% MM @ £25 (also tried £50) per pip in & outside of RH's 2-hour time-frame. Don't know if these amounts are permissable in live trading ????

Last edited by Kush; Nov 19, 2010 at 6:50pm.
Kush is offline   Reply With Quote
Old Nov 20, 2010, 1:10am   #60
Joined May 2009
Re: Spreadbetting Company reviews for use with Forex Net Trap

Quote:
Originally Posted by Kush View Post
Greetings All,

Tradeviking, when you say Gekko, do you mean Shortspreads.com (owned by Gekko & Agora) which the FNT v.2 is revision is based around (as opposed to IG Index in v.1)?

If so caveat emptor (buyer beware)!!

I'm still only demo trading yet seem to experience serious slippage from closing trades (apologies no records kept yet - I'm so new to all this [any help with Mark's, et al comprehensive spreadsheets appreciated]). Started using RSI / MACD indicators & found trades going off-chart i.e. no independent scrolling options; RSI also floats in & out of view heading north or south as the mood takes it.

They do offer 25% of your initial pot, up to £500 max. as a joining bonus & I can see why. Had a look for them on www.forexpeacearmy.com - nothing; input their name (i.e. "shortspreads.com" review) into Google - it found 2 pages!!!!!

There's nothing wrong with them being new (being a forex newbie myself, I can honestly say that I don't understand all that I read within this forum), everyone has to start from somewhere, but at the moment they just aren't there yet. My comparison is Oanda (unfortunately not s/b account) which has none of these issues, however I'm heartened to read about SML - will give them a try shortly

Hope this helps

PS: Should've mentioned, demo trading has been with 5% MM @ £25 (also tried £50) per pip in & outside of RH's 2-hour time-frame. Don't know if these amounts are permissable in live trading ????
You can trade upto £10,000 a pip if you had the bankroll.
Dubai is offline Trading system vendor   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Daily Forex Net Trap Trades and discussion mark120169 Forex Net Trap 14562 Dec 10, 2012 11:39am
Richard Hill Forex Net Trap flinteng First Steps 5259 Sep 12, 2011 8:07am
Forex Net Trap SA Trader Forex Net Trap 6 Jun 28, 2010 1:44pm

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)