prospreads.com

This is a discussion on prospreads.com within the Spread Betting & CFDs forums, part of the Commercial category; Does anyone currently use preospreads.com? Please tell me if all the hype and advertising claims match your personal experience of ...

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Old Jun 26, 2009, 3:17pm   #1
Joined Mar 2008
prospreads.com

Does anyone currently use preospreads.com?
Please tell me if all the hype and advertising claims match your personal experience of this company or rather division of London capital group.
Thanks
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Old Jun 26, 2009, 4:45pm   #2
Joined Feb 2008
|I've just opened an account with them. Have you tried them?
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Old Jun 26, 2009, 4:57pm   #3
 
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I was curious about them too. Do they do they only do futures on FOREX, or can you get spot? What's the spread for GBPUSD or EURUSD for example?
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Old Jun 26, 2009, 7:14pm   #4
Joined Mar 2008
? not yet!

magten started this thread
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Originally Posted by nash02 View Post
|I've just opened an account with them. Have you tried them?
? not yet!
I am interested if they are as good as they claim, lets see...
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Old Jun 27, 2009, 12:22pm   #5
Joined Jan 2006
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Originally Posted by magten View Post
Does anyone currently use preospreads.com?
Please tell me if all the hype and advertising claims match your personal experience of this company or rather division of London capital group.
Thanks
I do not trade live with them. The former name of Prospreads.com, futuresbetting.com had an excellent reputation. I see no reason why this will not continue with LCG as owner. The reason for this is that you are actually trading the futures with a spread betting wrapper. So you are in fact trading with DMA. Prospreads is not a Market maker in the right sense of the word as, they hedge all trades against the future market. Why should one trade with Prospreads if trading the futures with for example with Interactivebrokers, who is much less expensive (at least they used to be)? The only reason for this is probably tax reasons and privacy.
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Old Jun 27, 2009, 1:50pm   #6
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Privacy?
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Old Jun 27, 2009, 2:09pm   #7
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Originally Posted by Phil Mibbutz View Post
Privacy?
Meaning, tax authorities is not likely to find out you might have some money stashed away. I am also quite sure some insiders is using SB for their activities, not to forget to mention the black market. This is only my personal point of view and not based on any real facts whatsoever.
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Old Jun 27, 2009, 2:21pm   #8
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Originally Posted by gle101 View Post
Meaning, tax authorities is not likely to find out you might have some money stashed away. I am also quite sure some insiders is using SB for their activities, not to forget to mention the black market. This is only my personal point of view and not based on any real facts whatsoever.
Isn't it possible to convert your taxable profits at a futures broker by taking an exactly opposite position at a SB? Exit both when the futures move against your position at the broker and profits get transferred to the SB ? Of course you have to bear the cost of spreads on both sides but that would amount to about 1%
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