Any SB firms offer trailing stops?

[wilmawhippy]

I think I'm on a loser here.... Does anyone know if any SB companies do trailing stops? I've spent a couple of hours online & making phone calls & drawn a blank. If anyone knows if this facility is available anywhere I'd be really grateful.

 

[hungvir]

I am using CMC, Fins and Worldspreads and all of them allow you to trail your stops YOURSELF. You can't tell them to move your stop loss once the price has moved X, Y, Z in your favour. I hope this is what you're looking for.

Good luck!

Hung

 

[wilmawhippy]

Hello Hung,

Thanks for your reply. To be clearer what I meant was automated trailing stops ... where you can switch off if you want to & go & do something else (like with FXCM). Never mind, ...anybody else?

 

[FXSCALPER2]

Hello Hung,

Thanks for your reply. To be clearer what I meant was automated trailing stops ... where you can switch off if you want to & go & do something else (like with FXCM). Never mind, ...anybody else?

I know CMC, FINS,CS and IG don't have automated trailing stops.

 

[hungvir]

It would be a license to take money from their pocket, would it not ?

 

[wilmawhippy]

Thanks guys. Looks like I'm staying with FXCM.

 

[houdani]

what???
who would trust a sb company with a trailing stop placement
"im afraid sir you were stopped out when the market moved 250 points behind your initial opening level etc :cheesy:

 

[DerekL]

Hello,
Global Trader (http://www.gt247.co.uk/) say they do:
"Other benefits include: Low margin rates, competitive guaranteed stops, the fastest online trading platform, free SMS market alerts, real time charts, trailing stops and emerging market access"
Regards.

 

[wilmawhippy]

DerekL,

Thanks for your reply. I checked the website out & unfortunately it's spread trading not spread betting. Never mind , thanks for for the info anyway,

Wilma.

 

[Vorbis]

Is there some confusion here between spread trading and spreads trading?

On the Global Trader site it says:

Spreads are a low cost, highly efficient alternative to traditional stock trading. Many of the taxes associated with conventional trading, as well as additional costs such as Stamp Duty*, are not applicable to spreads.

Clarification on this would be welcome because I'm not at all sure myself.

Whatever, opening an account with them is quite hard work.
I began the process a couple of months back and they're still wating for me to send them photocopies of my passport and driving licence with signed verification from third parties.
They seem to be security conscious to the point of paranoia, which is both good and bad I suppose depending on how you view it.

 

[wilmawhippy]

Vorbis,

Sorry not to reply sooner, I've had a look at Global Trader. As far as I understand it spread trading & spreads trading are the same thing...i.e. trading the future spread between two commodities, & this is what GT offer.

Anyway thanks for the input ,
Wilma.

 

[victor123]

The only spread betting company that offers trailing stops is GFT. Their platform seems good as well.

 

[globaltrader]

Wilmanwhippy,

Apologies for not spotting this thread sooner. Global Trader does offer Trailing Stops on our Spreads product. Globally we call this a Spread Trade, but in the UK it is a 'Spread Bet'. This is fully automated and effectively acts as a one way ratchet on the stoploss pulling it higher as the instrument (ie HSBC Rolling Cash) goes into the money.

Global Trader

 

[pboi]

6 point spread isnt ideal. Then again I guess you cant have it all.

 

[globaltrader]

Pboi,

Again, apologies for the confusion, but the 6pts is not correct and, point taken, would certainly not be ideal.

The pricing here is always based on both the spot market and the trading level of each trader. Take for example a trader who is on 15bps, then the offer that he/she faces will be spot market offer plus the 15bps (and the bid will be market bid minus 15bps). In the case of HSBC, trading currently at 933-933.5 the final end pricing will be 931.60-934.90. There is no charge for the trailing stop function. I hope this clarifies.

 

[Priceman]

Too good to be true....

Man Financial do offer trailing stops and 1pip spreads too on some FX pairs. Anyone tried them yet to see if they fulfill their promises? It's not spread betting though, it's commission based futures.

http://www.tradingfxonline.com/fxspreads/

Love to know if anyone is using them and how they compare...

All the best

 

[pboi]

while I accept you are right, that explanantion means little to me as I know nothing about fX. ( entirely on my shoulders here !) Maybe you arent communicating the typical spread well enough on your site...then again I only have myself as the example customer here

 

[shjm]

Gft

Try gftuk.com. They offer trailing stops and the platform is about the best around with great charts which alow you to place trades & orders via the chart.

 

[gedward3]

Why put a trailing stop with a spread bet company. Its like having an order executed with a market maker and telling them what you'd like. You may make a profit but you wont get what you should as they'd probably see it like theyr'e takin candy from a kid. Actually let me re-phrase that. They'd take candy from any kid and your mom. And your whole family if they could. Go to twowayfutures or futuresbetting at least your actually in the market. Trailing stops with anyone not in DMA and your gettin scrrewed.....