BAN SPREAD BETTING or independant regulation

Not moaning simply like to let newbies and others on the right path.

Tom, newbies will lose money because they are newbies. I lost money when I started, so did you, so did every other trader when they first started. A new trader will lose money whatever trading platform they are on - it doesn't have anything to do with the spreadbet firm. Sure, they can play a few games and won't let you in or out sometimes but it doesn't happen all that often. You just need to be aware of all these limitations before you start.

My only gripe against spreadbetting firms is I feel that they offer too much leverage to people who really don't understand it. The questions they ask when you sign up should be far more thorough IMO.
 
dma

Seems tomtom got stung baldly at some point and is still in resentment about it!
you can lose money DMA as well !!!! a good trader will use dma spread or whatever at his disposal and whatever he feels happiest with. Why slag sb so badly unless as is usual you GOT STUNG BIG TIME!!!!
 
Not wanting to sound like an employee of FuturesBetting (which I'm not!) I've been using their services for a couple of weeks now. I've placed 100's of orders through their system and it's been flawless - no requotes, fast (almost instantaneous) execution, very few technical problems. They automatically hedge directly into the underlying futures market - thereby giving, in effect, DMA without tax.

As I'm new to financial trading I don't have anything to compare against (aside from my awful experience with CMC who effectively closed my account by increasing execution delays to over 60 seconds). But it seems a top quality service to me.
 
After reading so many stories here of bab practise on the behalf of spread betting companies.
Who thinks Spread Betting should be Banned or have an independant regulator to keep a tight rien on this leagalised over priced, do what ever they want ( as covered by the small print ) Firms.

Come on people tell it how it is ......:confused:

Well!! lets ban all the horseracing and greyhound racing and any form of gambling as well. oh! I forgot the Casino's let get some them some sort of independent regulation as well.
BAN SPREADBETTING or independent regulation
Stupid statement or what? in fact its one of the most ridiclous statements I have seen on this forum.

Only losers seems to have a lot of complaints about spreadbetters.
 
Gamma this is not about what you think ........
But then again SB is like the casino, as the price you see it not nececery the one you are about to get Ehhh ?
 
I agree TomTom ,
its not about what I think.......
Maybe I was a bit coarse in my previous post.
But I have traded 10 years and never really had a problem with spreadbetting.
But to propose banning them is a bit heavy.
And regulation! I know people do experience problems with them but getting getting nit picking regulators involved would really invite problems.
 
TomTom is a wind up merchant. Best ignored really.

(and most likely a loser in the markets too the way he talks)
((oh, sorry, it wasn't your fault you lost, it was the SB company))
 
Fcuk me, why dont you get a life mate, your getting right up my fcuking hooter.
We know they dont give the best price you spanner. Go DMA, why do you keep using them if you complain ALL the fcuking time.

Oh yeah, 90% DMA and 10% spreadbetting....c0ck...as in cockadoodle fcuking doo.:mad:


Can't see why you're getting so wound up about this, Lee (bad day on the markets, perhaps?), but apart from that I also don't quite understand why you're so keen on FS. Maybe they're better now, but I think I've tried most of the SB cos in the last seven years and Fatspreads was probably the worst, for platform reliability, costs and customer service.
 
Can't see why you're getting so wound up about this, Lee (bad day on the markets, perhaps?), but apart from that I also don't quite understand why you're so keen on FS. Maybe they're better now, but I think I've tried most of the SB cos in the last seven years and Fatspreads was probably the worst, for platform reliability, costs and customer service.


Hi mate,

Actually I did have a bad day in the market.:LOL:

However, this is not my reason for that c*nt winding me up, and he knows he's doing it.

As with SB's or DMA, if you dont like one, try the other, if you complain about one, dont use it....simple stuff.

Take a look at tom thumbs posts, nearly every single one of them is complaining about spread bet firms, yet, he still actively uses them himself.....thats what gets my goat up. In fact, he's trying to take one of them to court as well. Like, what a loooser.

We all know the T&C's before playing the game, I assume this as we should all read what we're signing before throwing money down on the line, if people dont, they have themselves to blame only for not bothering.

tom thumb knew the rules, he complained cos he lost a load of money but yet still uses them.

BTW, I haven't made a trade yet today so I am neutral in feeling, apart from when I think of a certain loooser.:LOL:

EDIT: as for FS, its not that I'm keen at all, I hardly mention them, check through any of my posts, hardly mentioned and only when asked...Directly asked and even then I've recommended they try out others for themselves. Each to there own, in fact to be honest I usually say go DMA. This then rules out the constant complaints of bad fills, wrong prices, spikes and generally being fcuked up the ar5e.

If every one went DMA, then they could only complain it was the markets screwing them, just like tom thumb.:LOL:
 
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with vix at 80 the prices move faster than the human mind. if you look when trading is feasible its when vix is under 50.
 
Gamma this is not about what you think ........
But then again SB is like the casino, as the price you see it not nececery the one you are about to get Ehhh ?

AFP: Spread betting boom as Britons gamble on turbulent markets

TomTom, it seems your luck is out. Spread betting is undergoing something of a boom (see article).

I am a bit concerned however about this comment:

"CleanFinancial said spread bettors are typically men aged 35 to 55 who work in financial circles, often self-employed. Big banks ban some of their employees from spread betting, the spokesman for the site said."

As a 26 year old female who has never worked in finance i can honestly say i don't fit into the 'average' spread bettor category.

Does anyone know why big banks ban employees from spread betting?
 
Does anyone know why big banks ban employees from spread betting?

It's not just the big banks, it's often any company which is regulated by the FSA. These companies are required to enforce a 30 day rule which means you can't liquidate the position you have put on for 30 days. It, essentially, means no speculation - CFDs, Futures, whatever. The rule is in place to restrict insider trading.

I worked for a firm which had a 30 day rule for any equity or equity derivative (globally, not just UK based). Also, if I took a position with the idea of holding for longer than 30 days, I had to write to the legal department requesting permission to close or open any trade - what a load of rubbish. If my stop triggered before 30 days or before I got permission to close, I had unintentionally violated the rule. So, guess what I did - I traded currencies (they weren't restricted) - ha!
 
SB is a great way to learn how to trade. I've never understood blaming the markets or the SB companies. The great thing about trading is the freedom it gives you. You can only blame yourself if it does not work out.

You choose who to trade with, what to trade, and when you trade it. You also decide how much you lose and how much you make when right. Its all in your hands, the market is just there.
 
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SB is a great way to learn how to trade. I've never understood blaming the markets or the SB companies. The great thing about trading is the freedom it gives you. You can only blame yourself if it does not work out.

You choose who to trade with, what to trade, and when you trade it. You also decide how much you lose and how much you make when right. Its all in your hands, the market is just there.

Without wanting to wade in to this. If you make money scalping SB firms don't want your business that's a fact. I know a guy who works at CMC markets and he has told me categorically that this is 100% True. If you take a position for 2-3 minutes they would rather you didn't trade with them.

I totally disagree with the poster above saying "You can only blame yourself if it does not work out"

I have experienced borderline cheating by an SB company. I clicked to go short at 312, the price moves to 319 they put me in to the short. The price continues up and I click to get out at 22 only to get a message "please wait before trading this instrument again" I clicked and clicked watching the price race to 40 I then got offered an out at 33 a clear 11 points away from where I initially wanted to bail.

I then hit another short around the same level, this time price runs in my favour. Instead of getting filled at 12 I get offered 94. The next 2 trades were similar experiences. Let's not also forget the psychological aspect.

Now I lost money, is that my fault or am I just a loser who is blaming a SB company. Think about it.

After the 4th trade I spoke with the firm concerned who told me "your business isn't mutually benifical" A Subsequent conversation with the firm a week later confirmed my suspicions that I had been put on to dealer referral after they had initially denied this 100%

I still use an SB Firm and they're not all bad. A lot will depend on size, I don't go at more than £5 a point so have no problem with the larger guys (IG INDEX) But let's not kid ourselves, I would be amazed at someone taking and profiting from 20-30 trades in a 3 hour period at £50+ a point day in day out and the SB firm letting them get away with it.
 
Well written Ceydababy.
You have highlighted a very important point. REF people consistantly winning form these firms.
Just a mattor of time before a platform error or something that will make traders move to dma
 
Please ignore Tom Tom's posts:

Every one of his posts are agressively against Spreadbet Firms.

Take a look through his posts, every one of them from when he joined is against Spreadbet Firms and how they rip you off.

Tom Tom is attempting to take Spreadbet Firms to court.

Tom Tom actively admits to 'scamming them' as they 'scam others'.

Tom Tom still uses Spreadbet Firms himself.
 
Please ignore Lee Shepards coments as he dont like anyone who speakes the truth regarding SPREADBETTING FIRMS

I think he hates sucsessfull traders doing real trading through DMA.

When he gets to my leavel he will see where he had been going wrong by incuring high costs of trading.
 
Hey tom thumb,

I understand if you get the spelling of English wrong as your from Switzerlond, but please, when my name is printed on the page and then again on the post you are quoting from....get it right son.

Come now, pay attention, this is one of the reasons you lose at spreadbetting then blame the firm....you dont pay attention me old mucker.
 
tomtom

Tomtom you are getting REALLY boring!! ok you got stung badly or sacked from an sb firm in the past and youve got real resentement issues about it, but give slagging sb a rest. some people are happy enough with sb and get on with what theyre doing so let them be.
you trade with what ever your happy with and what ever suits you. Why do you think everyones had enough of you ? BECAUSE YOURE GETTING BORING !!!!!!!
start talking about some proper trading issues and get over your sb issues!!!!
 
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