ProSpreads

in Brokers / Spread Betting & CFDs


Country: Gibraltar

Ranked #3 of 51 Brokers

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Jun 26, 2013

Dislike the platform and dislike the HUGE costs even more

V expensive way to trade. I would avoid like the plague.
Platform execution was quick, but platform itself was horrible.

Member (4 reviews, 1012 posts)

1 of 2 members found this review helpful.

Oct 23, 2012

Meh

Was hoping to use them for intraday scalping but the platform is below average and spreads too wide for me - ladder is not static so not great for scalping especially at busy times. Clicking on working orders tab only shows them for a short time then switches back to default view of open positions. 'Pull all' button on ladder doesn't pull working orders submitted using order ticket. Coming from TT and CQG the platform is clunky and slow and generally annoying.

Other annoyances include the lack of a portal where you can login and check account balance, trade history etc - you have to wait for EOD statements.

I switched back to real DMA for scalping and started using Prospreads for medium term trades, where their spreads are better than CFD brokers. This hasn't gone well so far either - my OCO orders have been filled very far away from market prices more than once. Each time they have amended the mistake, which is good but it shouldn't be happening. It's very annoying to miss the morning daytrading session because I have to deal with incorrect fills on my Prospreads account. They don't have the most intelligible statements either, so even more annoyance when trying to figure out where their mistakes are.

Conclusion: you're better off using actual DMA for scalping, especially with the platform advantages you get from TT/CQG and I assume Ninja. Longer term, if they could sort out their OCO issues they'd be ok. Good spreads in relation to other spreadbetting although for intraday there is much, much better available, albeit with a much higher min account balance unless you use a US broker in which case you can have intraday DMA goodness for small deposits. Generally annoying platform could be much improved.

I just tried them again today and downgraded my review from 5/10 to 3/10. Terrible, terrible platform. Ridiculously unintuitive and clunky, laggy, slow to update open positions. Really just terrible.

Member (1 review, 1150 posts)

2 of 2 members found this review helpful.

Sep 10, 2012

Best there is!

Been using to trade (scalp) the Bund them pretty much since they started out as FutiresBetting.com

Personally benchmarked their prices against eSignal (my personal charting package), Reuters and Bloomberg (my professional packages) . . . their quotes are spot on.


Two issues for me . .
1) Lack of an API so can't automate stratagies.
2) Only a problem for pure scalpers . . . when I try to sell at the ask / buy at the bid FB effectively place an order with the exchange and the order joins the queue. If another of their clients subsequently joins the queue then we both join the end of the queue (ie the exchange treats this as FB cancel the first (ie my) order and subsequently enters another (ie mine + other client) new order.

Member (1 review, 1367 posts)

2 of 4 members found this review helpful.

Sep 10, 2012

Reliable platform , execution and great customer service

I recently opened an account with Prospreads as I wanted to trade US index futures

Found the platform and execution to be very reliable and the customer service to be of a high standard.


Very satisfied to date.

Member (1 review, 226 posts)

1 of 2 members found this review helpful.

Jul 30, 2012

Honest

I have a feeling that Prospreads (along with some government legislation) has forced many spreadbet providers to clean up their act. Offering DMA and squeaky clean honesty is all it takes to make people notice. I must admit, compared with IG their platform looks clunky and is tricky to use until used to it. But execution is perfect, spreads excellent and support there if you need it.
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Updated, or rather downgraded my (rather gushing) review of these due to their shockingly poor platform and charts. Have been using ProRealTime recently so have gotten used to an easy trade-thru package. Dropped PS a line and they confirmed they don't supply feed for Ninja/MetaTrader any more so stuck with playing Donkey-Kong back in the 90's, this is the 21st century guys!
Everything else still ok tho.

Newbie (3 reviews, 0 posts)

1 of 3 members found this review helpful.

Nov 09, 2011

ProSpreads.com

They are by far the best out there, honest with great customer service and best of all NO RE-QUOTES ! , been with them for over 3 years now.

Senior Member (1 review, 152 posts)

2 of 4 members found this review helpful.

Oct 01, 2011

Driect Access Trading without the tax!

Introduced to ProSpreads by the traders at iTradePod. I found Prospreads to be fast and reliable. Never had a re-qoute or slippage. Brilliant customer service.



Best of all I can trade a wide range of futures using direct access technology without the tax burden.

Member (9 reviews, 42 posts)

2 of 3 members found this review helpful.

Sep 30, 2011

Excellent

Unbelievable that the best spread betttor around has not had a review. Still as the majority of traders bet 2/point its not surprising.

The platform reminds me of TT which was good, but the ladder moves which is ok for me as I trade medium term. When I put money in and asked for it back they were prompt and helpful. Also had a trial of their platform for 2 weeks which helped.

But this is for serious futures traders - and I would definitely recommend them. Velocity is the only one which strikes me as being close - but i have never used them.

Senior Member (2 reviews, 187 posts)

3 of 4 members found this review helpful.

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