which SB company is best for FX?

This is a discussion on which SB company is best for FX? within the Forex forums, part of the Markets category; I have either deal4free singled out or capital. Could anyone give me a recomendation plz? Cheers....

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Old Aug 2, 2004, 7:58pm   #1
Joined May 2004
which SB company is best for FX?

I have either deal4free singled out or capital.

Could anyone give me a recomendation plz?

Cheers.
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Old Aug 2, 2004, 10:04pm   #2
 
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d4f would NOT get my recommendation for anything!
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Old Aug 2, 2004, 10:08pm   #3
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andrewmooton started this thread why?
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Old Aug 2, 2004, 10:11pm   #4
 
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See under brokers for others comments. Also have discussed d4f with lots of other traders who have given up using them. I have yet to meet someone who has used them for some time who is still happy with them.
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Old Aug 2, 2004, 10:32pm   #5
 
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Hello Andrew.

Iv traded the FX market with all the spread betting companys.
If you need to use an SB then Capital spreads would get my vote by a distance.

Faris..
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Old Aug 3, 2004, 1:29pm   #6
 
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Cmc/d4f

Quote:
Originally Posted by andrewmooton
I have either deal4free singled out or capital.

Could anyone give me a recomendation plz?

Cheers.
Andrewmooton

I have used most of the SBs. I have looked at the comments for D4F and think they are a bit harsh. I have had glitches with all of the SB companies. I think this is just an unfortunate reality which you will have to factor in.

Of the last 20 or so trades through CMC, I have only really had problems when I have traded relatively large amounts (delay of approx 10 seconds when trading £40 per point on Coca Cola the other day). In a fast moving market, expect a delay of say 5 to 10 seconds.

The spreads appear to be better than most on currencies, commodities and indices.

The only gripe I have is that you can't automatically transfer funds out of cmc (you have to either e-mail them, or fax them an instruction). Also, the statement they send could do with a 'plain English' rehash.

Other than this, I have had no bad experiences with this company.
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Old Aug 3, 2004, 2:18pm   #7
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RE: CMC v capital spreads

Haven't got a live account with capital spreads (CS), but have had a demo with them and asked them numerous questions etc.

Have traded with CMC for about 2 yrs now and although spreads are low, their big fall down in my view is their complete lack of customer service. Have never really had any problems with fills etc and only minor problems with the platform. Things have always been resolved but I am always left with a "fobbed off" feeling after dealing with CMC over the phone etc. They really just seem to not care a toss.

As a result, I am now in the process of removing most of my funds. I am currently opening an account with FXCM and will also be opening an account with CS as soon as their "if done" order facilities become live. Will still leave my cmc account open for the time being but I will be using it much less now.

As a new account opener, CS wins against d4f in my book, although spreads are a bit wider, the customer service issue and open attitude of CS on T2W wins the day.
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Old Aug 3, 2004, 3:54pm   #8
Joined Sep 2003
Andrewmooton i use cmc for most of my forex trades there spreads are as good as you can get , the only exception is trading forex futures with ib were typically in mkt hours you will get a 1 pip spread , but unless you want to play with $12.50 per pip i would suggest using cmc , as far as re-quotes goes i have not had a problem with cmc on the forex trades i did have issues last year when i was trading mainly uk stocks with re-quotes .

as with all spreadbet companies you are trading against them and in my experience cmc are the best of the bunch.

hope this helps
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