Is this normal???

MoonlitBay · Sep 21, 2007

Dear all,

I'm a newbie in spreadbetting, therefore really need ur advice in this issue.

I opened a position to sell at 6484 on FTSE Dec yesterday around 4pm, to my shock, when i opened my account this morning,i have been stopped out at 6555!
it appears that there was a sudden surge of price at 7am but it quickly returned to the level of 6482 some time later.
this frustrates me a lot!

this does not happen to the ftse daily.

could u please tell me if this is a common issue or is it the problem of the spreadbetting company?

for your info, i'm using etradespreadbetting.com which is under the same company as capital spreads, i wonder if u have the same faced the same problem before.
do let me know how does the chart of other spreadbetting company look like, ok?

thanks.

shadowninja · Sep 21, 2007

It went up and pretty much stayed up for IG Index.

Register for free with ProRealTime.com and check their charts.

I can imagine it is frustrating but that is the way of the markets, sometimes.

nkruger · Sep 21, 2007

Does happen. Happened with CMC yesterday. I was watching at the time.

http://www.trade2win.com/boards/showthread.php?t=26023&page=3

Lightning McQueen · Sep 21, 2007

Im including IG Index & finspreads charts, looks like a spike caused by your SB company opening their market at 7.00 am, I'm not an expert, so not sure.

finspreads are mid point charts, not sure what IG index charts are based on? I will have to check. your charts are "their bid" based so may partly explain the spike, as they open their market? I dont know, I take it your going to phone them, at least you'll know what happened here. it may or may not be a mistake in "their" pricing.

On the finspreads chart there's a spike up at 02.50 AM which doesn't appear on the IG chart, obviously doesn't appear on yours either because your choice of SB outfit doesn't quote 24 hours a day.

Best of luck, hope everthing comes out in the wash.

Lightning

peto · Sep 21, 2007

attachment is from futuresource.com. Seems we hit 6543 at 0835 this morning but even with the spread it shouldn't have stopped out at 6555. Before the future opens in London they base their prices on u.s. futures movements, but I see no related movements up in the u.s. at that time.

Definitely worth complaining to your s.b. company. Of course an unscrupulous company can set their prices wherever they want, but if they value your custom they should put their hands up to freaky price feed and cancel the stop.

Hoggums · Sep 21, 2007

MoonlitBay said:
Dear all,

I'm a newbie in spreadbetting, therefore really need ur advice in this issue.

I opened a position to sell at 6484 on FTSE Dec yesterday around 4pm, to my shock, when i opened my account this morning,i have been stopped out at 6555!
it appears that there was a sudden surge of price at 7am but it quickly returned to the level of 6482 some time later.
this frustrates me a lot!

this does not happen to the ftse daily.

could u please tell me if this is a common issue or is it the problem of the spreadbetting company?

for your info, i'm using etradespreadbetting.com which is under the same company as capital spreads, i wonder if u have the same faced the same problem before.
do let me know how does the chart of other spreadbetting company look like, ok?

thanks.

I see the same spike at CS.com - interestingly they had their quotes at around 6553 level for an hour before market open.

MoonlitBay · Sep 21, 2007

Hoggums said:
I see the same spike at CS.com - interestingly they had their quotes at around 6553 level for an hour before market open.

this is because Capital Spread and etradespreadbetting are both under the same group company.

MoonlitBay · Sep 21, 2007

I just called them and they said there was a mistake with the system for such pricing.
they have credited the money back into my account.
I urge anyone who got stopped out unreasonably to call their SB company as well.

TWI · Sep 21, 2007

CMC have tried similar things with me a number of times. When I rana reasonable Nikkei position during the last bull run they tried to stop me out a number of times. All it took was a call to point out that the index never got to that price on exchange and they reinstated the position. Eventually the bast*rds got me on a particularly viscous drawdown evening when they said my margin was exceeded at the low and then I could not argue the point. I had 10k margin and it went abotu 200$ into red mark to market before bouncing back about 200pts in my favour...
They are all out to sc*w you so you gotta fight for your right to party.

good luck.

Hoggums · Sep 21, 2007

TWI said:
CMC have tried similar things with me a number of times. When I rana reasonable Nikkei position during the last bull run they tried to stop me out a number of times. All it took was a call to point out that the index never got to that price on exchange and they reinstated the position. Eventually the bast*rds got me on a particularly viscous drawdown evening when they said my margin was exceeded at the low and then I could not argue the point. I had 10k margin and it went abotu 200$ into red mark to market before bouncing back about 200pts in my favour...
They are all out to sc*w you so you gotta fight for your right to party.

good luck.

Once I got a spike and my trade went well past it's limit (I was short and the price went to zero) and my account got credited with £176,000!! Only took them 10 minutes to spot that!

tar · Sep 21, 2007

FTSE cannot move like this .

Today at the morining i get stopped @ RUS 2000 at capitalspreads caused by wrong price , but i sent them email and they correct everything .

Is this normal???

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