Worldspreads upgraded!

gle101

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Hi Guys,

This is an attempt to start a new thread on Worldspreads. This is because I think that the old one is full of stuff that just does not belong there. Also it is my opinion that the old thread does not give a fair picture of the company as it is today. It would be nice if we could fill this new thread with some creative and interesting content on the spread betting broker Worldspreads Ltd, http://www.worldspreads.com.

Just for the record, I have no financial interest in Worldspreads Ltd whatsoever, apart from being a trader looking for the best possible deal.

Worldspreads upgraded!

A few weeks ago, Marvin and Worldspreads invited me, as they had promised earlier, to start trading again with instant execution. Back to business again so to speak. This post is a short review on this speed upgrade, which by a quick first glance doesn't look that much. One must admit that Worldspreads in the past had a serious problem with lagging and delayed quotes. That fact, whether we as traders liked it or not, forced the Worldspreads management to address the issue and take action against some traders and put them on constant referral to a dealer. Of course, I think all traders agree that a re-quote is the most unpleasant thing there is, when it comes to trading, and if it becomes a standard procedure against the trader, the latter just has to stop trading with that broker. And looking back, if those traders who were put on referral are honest and self reflecting, lets face it, the odds were in some cases just too much in favor of the trader. Especially short term traders like me, who could, at times take advantage of that delay, which was not always premeditated on the trader's part, but often enough to understand that things were not entirely fair. I myself made 881% in just 4 weeks and that was way too much for Worldspreads to let me continue unregulated. However, it is also my viewpoint that the broker has to take sole responsibility for the feed quotes that are offered and presented on the platform, and not to blame it on the trader if the speed is not adequate to support instant execution as advertised. Of course, there can be some exceptions to this principle but it should not happen that often.

Here goes! I now present my honest reflection on the long awaited speed upgrade after two weeks of intensive trading on the Worldspreads platform.
What a difference in the speed of the platform! One can hardly believe it is the same platform one is trading on. Ultra fast quotes that almost exactly follow the underlying instrument. No lagging or delay of quotes whatsoever and even on an extremely volatile market, the feed is updated without any delay to speak of. I am really impressed, it is a sheer joy to trade with such a service. I have to give my compliments to Marvin and the technical staff of Worldspreads, they have done wonders with the speed and the overall performance of the platform as well, and this in a relatively short period of time. One must understand the technical difficulties involved here. The price feed has to be imported by Worldspreads, recalculated and adjusted to fit their spread, and then presented on the platform. All this within a few hundredths of a second! Marvin had told me earlier that the work of the speed upgrade had been initiated and would be implemented and introduced live as soon as the upgrade was completed. I had my doubts on this, but two weeks of live trading on the Worldspreads platform has fully convinced me that they have succeeded in the above task.

How about re-quotes and messages? Well yes, during volatile times such as news releases, it has happened. Not all the time and only on extreme occasions. Hey folks, you can not have it all! One has to look at the overall performance and the spread offered. Worldspreads are definitely putting a lot on the line with their 1 point spread philosophy and not so seldom, do they beat the DMA's in this effort. As Market Maker with an unvarying spread, they must at times, adjust to certain extreme market conditions, so the odds do not run away and become too unbalanced in favor of the trader. If re-quotes do not occur too often, it is my firm viewpoint that this situation is to be preferred, in comparison to being put on constant referral by a dealer.

Conclusion

Worldspreads with their 1 point spread offer, on the most interesting instruments, instant execution and incredibly fast feed which follows the underlying asset, is an unbeatable combination in the spread betting business today. I would even say, that compared to direct market access brokers, their offer is hard to beat as one has to add the brokers commission to the spread obtained. On top of that, compared to DMA's, you can put much less money at stake in the trade thus minimize risk for better money management. Besides you also have the profit tax free (for professionals, I am unsure of this). Yes I know it sounds like a commercial, but I am trading with other brokers as well and can tell the difference upfront. If Worldspreads can avoid putting traders on constant referral to a dealer, if they turn out to be winners, I am sure they have it made. In any case, Worldspreads have an opportunity in setting a new industry standard. Whether they succeed or not, remains to be seen. If it turns out that they do make it in the long run, sooner or later the other SB's must follow. Trading with instant execution with 1 spread, instead of 2 spread, is a world of difference, believe me, and if you are a disciplined short term trader, that can very well be the x-factor that tips you over to become a continuing winner. Sure, Worldspreads needs to improve their support department, add stop loss to orders, OCO orders, deposit credit card facilities etc.. but as long as they continue to improve and deliver the excellent service they offer at the moment I will rate them as no. 1 in my book of spread betting companies.

It would be nice if Marvin from Worldspreads would come out on this bulletin and contribute to this thread. I know for a fact that it is greatly appreciated by many traders that representatives of the companies share their knowledge and viewpoints on these forums. Please keep a pleasant note as we would like to have these representatives to stay on for a long time. Worldspreads has, in my view, progressed a lot, since a half year back and it would be interesting to keep the discussion on them as of today. Also if you are trading with Worldspreads today and would like to share your thoughts and experience, or are even contemplating joining them, please see that the posts keep coming in.

Thanks for your interest.
 
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gle101 said:
Hi Guys,

This is an attempt to start a new thread on Worldspreads. This is because I think that the old one is full of stuff that just does not belong there. Also it is my opinion that the old thread does not give a fair picture of the company as it is today. It would be nice if we could fill this new thread with some creative and interesting content on the spread betting broker Worldspreads Ltd, http://www.worldspreads.com.

Just for the record, I have no financial interest in Worldspreads Ltd whatsoever, apart from being a trader looking for the best possible deal.

Worldspreads upgraded!

A few weeks ago, Marvin and Worldspreads invited me, as they had promised earlier, to start trading again with instant execution. Back to business again so to speak. This post is a short review on this speed upgrade, which by a quick first glance doesn't look that much. One must admit that Worldspreads in the past had a serious problem with lagging and delayed quotes. That fact, whether we as traders liked it or not, forced the Worldspreads management to address the issue and take action against some traders and put them on constant referral to a dealer. Of course, I think all traders agree that a re-quote is the most unpleasant thing there is, when it comes to trading, and if it becomes a standard procedure against the trader, the latter just has to stop trading with that broker. And looking back, if those traders who were put on referral are honest and self reflecting, lets face it, the odds were in some cases just too much in favor of the trader. Especially short term traders like me, who could, at times take advantage of that delay, which was not always premeditated on the trader's part, but often enough to understand that things were not entirely fair. I myself made 881% in just 4 weeks and that was way too much for Worldspreads to let me continue unregulated. However, it is also my viewpoint that the broker has to take sole responsibility for the feed quotes that are offered and presented on the platform, and not to blame it on the trader if the speed is not adequate to support instant execution as advertised. Of course, there can be some exceptions to this principle but it should not happen that often.

Here goes! I now present my honest reflection on the long awaited speed upgrade after two weeks of intensive trading on the Worldspreads platform.
What a difference in the speed of the platform! One can hardly believe it is the same platform one is trading on. Ultra fast quotes that almost exactly follow the underlying instrument. No lagging or delay of quotes whatsoever and even on an extremely volatile market, the feed is updated without any delay to speak of. I am really impressed, it is a sheer joy to trade with such a service. I have to give my compliments to Marvin and the technical staff of Worldspreads, they have done wonders with the speed and the overall performance of the platform as well, and this in a relatively short period of time. One must understand the technical difficulties involved here. The price feed has to be imported by Worldspreads, recalculated and adjusted to fit their spread, and then presented on the platform. All this within a few hundredths of a second! Marvin had told me earlier that the work of the speed upgrade had been initiated and would be implemented and introduced live as soon as the upgrade was completed. I had my doubts on this, but two weeks of live trading on the Worldspreads platform has fully convinced me that they have succeeded in the above task.

How about re-quotes and messages? Well yes, during volatile times such as news releases, it has happened. Not all the time and only on extreme occasions. Hey folks, you can not have it all! One has to look at the overall performance and the spread offered. Worldspreads are definitely putting a lot on the line with their 1 point spread philosophy and not so seldom, do they beat the DMA's in this effort. As Market Maker with an unvarying spread, they must at times, adjust to certain extreme market conditions, so the odds do not run away and become too unbalanced in favor of the trader. If re-quotes do not occur too often, it is my firm viewpoint that this situation is to be preferred, in comparison to being put on constant referral by a dealer.

Conclusion

Worldspreads with their 1 point spread offer, on the most interesting instruments, instant execution and incredibly fast feed which follows the underlying asset, is an unbeatable combination in the spread betting business today. I would even say, that compared to direct market access brokers, their offer is hard to beat as one has to add the brokers commission to the spread obtained. On top of that, compared to DMA's, you can put much less money at stake in the trade thus minimize risk for better money management. Besides you also have the profit tax free (for professionals, I am unsure of this). Yes I know it sounds like a commercial, but I am trading with other brokers as well and can tell the difference upfront. If Worldspreads can avoid putting traders on constant referral to a dealer, if they turn out to be winners, I am sure they have it made. In any case, Worldspreads have an opportunity in setting a new industry standard. Whether they succeed or not, remains to be seen. If it turns out that they do make it in the long run, sooner or later the other SB's must follow. Trading with instant execution with 1 spread, instead of 2 spread, is a world of difference, believe me, and if you are a disciplined short term trader, that can very well be the x-factor that tips you over to become a continuing winner. Sure, Worldspreads needs to improve their support department, add stop loss to orders, OCO orders, deposit credit card facilities etc.. but as long as they continue to improve and deliver the excellent service they offer at the moment I will rate them as no. 1 in my book of spread betting companies.

It would be nice if Marvin from Worldspreads would come out on this bulletin and contribute to this thread. I know for a fact that it is greatly appreciated by many traders that representatives of the companies share their knowledge and viewpoints on these forums. Please keep a pleasant note as we would like to have these representatives to stay on for a long time. Worldspreads has, in my view, progressed a lot, since a half year back and it would be interesting to keep the discussion on them as of today. Also if you are trading with Worldspreads today and would like to share your thoughts and experience, or are even contemplating joining them, please see that the posts keep coming in.

Thanks for your interest.
Thank you for your report on the update, I had no idea ws was upgraded. I'm an EOD trader and don't need speed, but I do need control.

But until stop loss to orders, OCO orders etc are added to the platform, its not ready for prime time, in my opinion, it might be fine for daytrading though.

Of all the SB platforms I've tried, I like the WS the best so far, I see it has potential, with the addition of stop loss to orders, OCO orders at the time of the trade, it would be a hands down winner and give the other SB Co's a good run.

It would be nice also if the deposit credit card facilities etc where implemented, its long overdue but their, (WS), moving in the right direction.

I think it would would be a nice customer relation boost, would be some sort of timetable of the implantation of the features, fiction benefits described above....

Great Trading!!
 
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marlintrdg said:
Thank you for your report on the update, I had no idea is was upgraded. I'm an EOD trader and don't need speed, but I do need control.

But until stop loss to orders, OCO orders etc are added to the platform, its not ready for prime time, in my opinion, it might be fine for daytrading though.

Of all the SB platforms I've tried, I like the WS the best so far, I see it has potential, with the addition of stop loss to orders, OCO orders at the time of the trade, it would be a hands down winner and give the other SB Co's a good run.

It would be nice also if the deposit credit card facilities etc where implemented, its long overdue but their, (WS), moving in the right direction.

I think it would would be a nice customer relation boost, would be some sort of timetable of the implantation of the features, fiction benefits described above....

Great Trading!!
Hi marlintrdg,

Thanks for your comments. Yes I did send Marvin an email with suggestion on a few important features that are on my wish list. He got back to me saying that he would pass it on to the development team. Anyway I am sure that Worldspreads are already planning to implement some of these features at a later stage. Maybe Marvin could shed some light on this?
 
Has the WS platform been upgraded so that the various windows and boxes update prices at the same time and you can tell when a stop has been triggered?
 
Phil Mibbutz said:
Has the WS platform been upgraded so that the various windows and boxes update prices at the same time and you can tell when a stop has been triggered?
Hi Phil,

Yes as far as I could see. About stops I can't tell as I always use mental stops. I would like to clarify that while trading with Worldspreads I use mental stops, as I only short term trade with them. Of course with other brokers I do use stop loss when I am position trading.
 
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gle101 said:
Hi Guys,

I myself made 881% in just 4 weeks and that was way too much for Worldspreads to let me continue A few weeks ago, Marvin and Worldspreads invited me, as they had promised earlier, to start trading again with instant execution. . .Thanks for your interest.


That's very nice of Marvin. I only made 100% with them in 4 days. before I was put on referred to dealer and you are saying it was 4 weeks before you was taken of instant executions. and made 881% of them. Seem strange, they have asked you back to trade on their new platform with instant execution again and not me. I have been asking Marvin weeks if they would allow me to trade again on instant executions on they new updated platform. still waiting for an answer. :devilish:
 
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pssonice said:
Spread on our very famous dow is 10765-10775, congrats
Hi pssonice,

I have never seen this kind of spread ever since I started trading with Worldspreads. It has always been the stipulated spread. Of course this can happen due to a technical problem. Are you trading live at Worldspreads?
 
laptop1 said:
Don't care to reply to my post do you gl101...I wonder why?
Hi Laptop1,

Very strange indeed! I was at this very moment writing a reply to your posting. As it will take some time giving you my opinion I decided first to spend some time with the family on an outing.
Hold on I will be with you very soon.
 
laptop1 said:
That's very nice of Marvin. I only made 100% with them in 4 days. before I was put on referred to dealer and you are saying it was 4 weeks before you was taken of instant executions. and made 881% of them. Seem strange, they have asked you back to trade on their new platform with instant execution again and not me. I have been asking Marvin weeks if they would allow me to trade again on instant executions on they new updated platform. still waiting for an answer. :devilish:
Hi Laptop1,

It is kind of hard to compare profits like you are doing in your post. I guess that it also depends on the total amount won as well. Perhaps your stakes were a bit higher than mine and therefore took a lot lesser time before any action was taken by Worldspreads.

Speaking for myself, I have never experienced Marvin or Worldspreads as being impossible in any way. On the contrary, they have shown me that if you treat them fairly they will respond in the same vein. What ever the issue between you and Worldspreads I do hope that you can solve it to the best interests of all concerned.

Best of luck!
 
I am a fair person, I give anyone a second chance. We see how everything pans out with WS and if they have me back on board.
 
"On the contrary, they have shown me that if you treat them fairly they will respond in the same vein"

Im reading up on wordspreads and I saw a comment from their dealers saying the best way they advise a client to trade is by scalping, on a promo website. But looking at the other thread although worldspreads advocates that scalping method it seems if you try and do that then they slip you a micky, which is tricky cos ,damn, a trade is a trade and dont know bout the rest of you but most times like the film I like to be Gone in 60 seconds with my money.

I dont know about being fair in this game? Thats the point isnt it, to snatch advantage from our opponents?
 
Brothers Soul said:
"On the contrary, they have shown me that if you treat them fairly they will respond in the same vein"

Im reading up on wordspreads and I saw a comment from their dealers saying the best way they advise a client to trade is by scalping, on a promo website. But looking at the other thread although worldspreads advocates that scalping method it seems if you try and do that then they slip you a micky, which is tricky cos ,damn, a trade is a trade and dont know bout the rest of you but most times like the film I like to be Gone in 60 seconds with my money.

I dont know about being fair in this game? Thats the point isnt it, to snatch advantage from our opponents?
You are referring to Worldspread before the actual speed upgrade. Worldspreads first introduced 1 point spread with the old platform. This kind of tight spread demands amazing speed of the feed presented on the platform in order to avoid a delay. Worldspreads have now successfully upgraded the speed of the platform and there is no delay to speak of, so I see no reason why Worldspreads won't welcome short term traders as well.

I would imagine it would be very hard to trade successfully with a mindset that your broker is out to get you all the time. This is nothing I have experienced at all since I started trading with Worldspreads.
 
I gather from the posts here that you're all day traders, (need for speed), is anyone using WS for end of day trading?
 
marlintrdg said:
I gather from the posts here that you're all day traders, (need for speed), is anyone using WS for end of day trading?
Yes I would also like to hear from traders that are actually trading live with Worldspreads. Whether they are short term trader or position traders.
 
I find this thread quite disturbing. You guys up for this award?

http://www.moneymarketing.co.uk/mmevents/awards_intro06.html

All the best, I went to these awards a few years ago when my firm was up for one - great night out on the firm. Some of the stories I heard there, charles and his big spuds had nowt on these chaps - I kid you not, at this event a marketer tried to tell me, a compliance man, that I should consider selling the brand of chindl at appraisal time, how can you sell the brand of chindl so that business wins. Tw@t. All front, no substance and risk was just a board game to this lot!! Marketers, like the three muskateers with the back of a cig packet as their weapon. Anyhow, Hope you win for this niche marketing!
Chris
 
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Oh, and some strange locations on the thread, Nassau a nd Swedenwith just a handful of posts previously, posting on a UK firm??? Call me cynical, but how did you get past KYC to trade this firm outside of their legal jurisdiction?
Chris
 
chindl said:
Oh, and some strange locations on the thread, Nassau a nd Swedenwith just a handful of posts previously, posting on a UK firm??? Call me cynical, but how did you get past KYC to trade this firm outside of their legal jurisdiction?
Chris
I have accounts with WS, CS and Fins, I had accounts in the US with tradersnetwork, (commodities futures), optionsxpress & mytrack, but its getting too much with rules and condition changes day to day, also one can easily slip into a "Pattern Day Trader" and have to minimum equity of $25,000 minimum in your account to trade..

I like the SB because its easy, I have a CFD account with ODL's but SB is allot easier to deal with, I'll live with the spreads, their not that much different than options.

Who and what is an KYC?, and how is it outside of their legal jurisdiction? Why is it "strange locations"? whats wrong with us? My farther served in the RAF and my grandfather and uncle drove Kings back in steam days. I didn't realize SB is only for the UK.
 
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