Thanks I will have a look at them.
Best Thread Capital Spreads
Thanks I will have a look at them.
This is how bucket shops operate. Dealer referral during news time and permanent dealer referral for winners.
If one doesn't get it how a market maker operates during news time one is simply not fit to trade SB. Permanent referral for winners is less of these days, at least this is my experience, and I am not a loser.
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capitalspreads
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pot shot
gbpjpy ... not sure if you noticed but GBP/JPY is quoted 8 pips wide on our platform. Sometimes this a good spread .. sometimes it isnt. If our data provider was quoting 119.15-119.19 Capital Spreads would be quoting 119.13-119.21. If you friend had a stop at 119.14 he would be filled with us but not on our data provider.
The same thing happens in reverse if his data provider was wider than us then he would get triggered on the FX platform but not on ours.
If anyone asks we are looking at the GBP/JPY spread
Simon
gbpjpy ... not sure if you noticed but GBP/JPY is quoted 8 pips wide on our platform. Sometimes this a good spread .. sometimes it isnt. If our data provider was quoting 119.15-119.19 Capital Spreads would be quoting 119.13-119.21. If you friend had a stop at 119.14 he would be filled with us but not on our data provider.
The same thing happens in reverse if his data provider was wider than us then he would get triggered on the FX platform but not on ours.
If anyone asks we are looking at the GBP/JPY spread
Simon
capitalspreads
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hogfish
if i went on about the splinter in the eye of other peoples inability to see something then i would definately be squished flat by the entire ship load of planks that would hit me
Simon
if i went on about the splinter in the eye of other peoples inability to see something then i would definately be squished flat by the entire ship load of planks that would hit me
Simon
capitalspreads
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potshot
the charts and trade may give different prices as they come from different servers. the timing difference will be tiny.
re your continued claim that you get a different price to the one requested on the trade ticket. are you trading on mobile and looking at the chart on a pc? if both are on the pc then i can only suggest that the price on the ticket must have changed as you clicked it. I am really sorry to continue to state this but if what you claim were true we would get hundreds of complaints a day.
we dont... apart from you we get none. as requested can you film it happening then we would have some evidence to go to our developers with. I can hardly start a massively expensive search and solution project without something more to go on than one clients claim.
simon
the charts and trade may give different prices as they come from different servers. the timing difference will be tiny.
re your continued claim that you get a different price to the one requested on the trade ticket. are you trading on mobile and looking at the chart on a pc? if both are on the pc then i can only suggest that the price on the ticket must have changed as you clicked it. I am really sorry to continue to state this but if what you claim were true we would get hundreds of complaints a day.
we dont... apart from you we get none. as requested can you film it happening then we would have some evidence to go to our developers with. I can hardly start a massively expensive search and solution project without something more to go on than one clients claim.
simon
Simon
Both on the PC, when you say film it, do you mean taking a trade or the charts and ticker being a different prices.
capitalspreads
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Pot shot
just the trade ticket
a piece of high res film that will show that the price when you actually click on the trade ticket to buy (or sell) is actually different to the fill. As mentioned we are not so concerned about the charts (as you are not actually trading on these prices)
Simon
just the trade ticket
a piece of high res film that will show that the price when you actually click on the trade ticket to buy (or sell) is actually different to the fill. As mentioned we are not so concerned about the charts (as you are not actually trading on these prices)
Simon
I find CS to always, and I really mean always, to give the actual price that was quoted on the trading ticket. I haven't find a single trade giving another price other than that on the trading ticket. If you get another price, it has in fact changed and a video recording will show it very clearly. Other SB have a different model, both work if you know how they operate.
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"Take control with Risk & Money Management"
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"Take control with Risk & Money Management"
Hello.
Please note that I've not followed this thread and have only glanced through a few recent posts so apologise if some of my post goes over previously discussed issues.
Having traded with IG for many years, in protest of their new basic charts which are a complete joke, I decided to open an account somewhere else and after a fair bit of research decided on Capital Spreads so opened an account and made a small deposit to test out the platform.
I understand Capital Spreads used to have very good charts, and whilst the current charts aren't great, they are usable and miles better than IG's new basic charts.
However, in my first week of using Capital Spreads I have already had issues with both main trades I've taken so far.
Firstly, I attempted to close a GBP:CAD short at 12:31 on Thursday, just after BOE release. GBP pairs were understandably quite volatile at this time.
Attempt 1 to close the trade at 1.5916 resulted in the ticket freezing for quite a few seconds and the trade was rejected.
Attempt 2 to close the trade at 1.5918 resulted in the ticket freezing for quite a few seconds and the trade was rejected.
Attempt 3 to close the trade at 1.5918 resulted in the ticket freezing for quite a few seconds and the trade was accepted, however, on checking my account history the trade executed at 1.5981 which is 63 points away from where I pressed the button.
I complained to Capital Spreads and was basically told the prices I tried to execute at simply did not exist and were never printed. When I asked why they were visible on the ticket and in my displayed profit I was effectively told that was impossible.
It certainly wasn't impossible because I saw it with my own eyes.
On checking the tick data on their chart and the 1 minute chart, it was clear that the prices I attempted to execute at were printed and I explained this to the rep but all he could do was offer to send me a bloomberg screen shot showing prices at the time I executed.
The Bloomberg screen shot did show that the prices I attempted to close the position at were not printed at the exact moment they claimed I pressed the button. (which according to them was a few seconds away from the time shown in my trade history).
Therefore, the only real conclusion I can make is that during volatile times their platform displays inaccurate prices that cannot be executed.
This concerns me a little as having traded with IG for many years I’ve never come across a similar problem.
I’m not sure if I can be confident enough to trade large stakes on their platform, but I do appreciate that the trade was executed at a volatile time.
I think my main worry is that if it took 3 attempts to manually close a position and even then I did not get the price shown on the platform, what might have happened were the market trading through a stop loss at this time and how much slippage would I have encountered?
Finally, although I was not stopped out in either of these instances as they did not reach my stops, here are 2 spikes I've experienced on the only 2 swing trades I've taken with Capital Spreads in my first week with them:
Trade 1, GBP:CAD short.
Cue the 500 point spike:
Trade 2:
AUD:NZD long.
Cue the 400 point spike:
Neither of these spikes were replicated in the underlying markets and neither were they replicated on IG's platform or on any other platforms I've been able to check.
So, if these erroneous spikes had stopped out my positions, would Capital Spreads have reinstated those positions?
Getting stopped on that 500 point GBP:CAD move if trading a large stake would have been incredibly painful, particularly as the spike did not appear to exist in the underlying market.
I'd very much appreciate any input from someone with familiarity of Capital Spreads platform and details of how they are likely to react in these situations?
The sensible side of my brain is telling me that if I've experienced these occurrences in my first 2/3 trades, then I'd be a bit of a mug to deposit more money with them and trade larger stakes. At the same time, I'm hoping these instances really are one-offs and not likely to happen again because I do like their platform.
The tone of this post might have been somewhat different if
a) The 63 points I was "robbed" of occured when trading much higher stakes.
b) Those erroneous spikes had taken out stop losses if trading much higher stakes.
Please note that I've not followed this thread and have only glanced through a few recent posts so apologise if some of my post goes over previously discussed issues.
Having traded with IG for many years, in protest of their new basic charts which are a complete joke, I decided to open an account somewhere else and after a fair bit of research decided on Capital Spreads so opened an account and made a small deposit to test out the platform.
I understand Capital Spreads used to have very good charts, and whilst the current charts aren't great, they are usable and miles better than IG's new basic charts.
However, in my first week of using Capital Spreads I have already had issues with both main trades I've taken so far.
Firstly, I attempted to close a GBP:CAD short at 12:31 on Thursday, just after BOE release. GBP pairs were understandably quite volatile at this time.
Attempt 1 to close the trade at 1.5916 resulted in the ticket freezing for quite a few seconds and the trade was rejected.
Attempt 2 to close the trade at 1.5918 resulted in the ticket freezing for quite a few seconds and the trade was rejected.
Attempt 3 to close the trade at 1.5918 resulted in the ticket freezing for quite a few seconds and the trade was accepted, however, on checking my account history the trade executed at 1.5981 which is 63 points away from where I pressed the button.
I complained to Capital Spreads and was basically told the prices I tried to execute at simply did not exist and were never printed. When I asked why they were visible on the ticket and in my displayed profit I was effectively told that was impossible.
It certainly wasn't impossible because I saw it with my own eyes.
On checking the tick data on their chart and the 1 minute chart, it was clear that the prices I attempted to execute at were printed and I explained this to the rep but all he could do was offer to send me a bloomberg screen shot showing prices at the time I executed.
The Bloomberg screen shot did show that the prices I attempted to close the position at were not printed at the exact moment they claimed I pressed the button. (which according to them was a few seconds away from the time shown in my trade history).
Therefore, the only real conclusion I can make is that during volatile times their platform displays inaccurate prices that cannot be executed.
This concerns me a little as having traded with IG for many years I’ve never come across a similar problem.
I’m not sure if I can be confident enough to trade large stakes on their platform, but I do appreciate that the trade was executed at a volatile time.
I think my main worry is that if it took 3 attempts to manually close a position and even then I did not get the price shown on the platform, what might have happened were the market trading through a stop loss at this time and how much slippage would I have encountered?
Finally, although I was not stopped out in either of these instances as they did not reach my stops, here are 2 spikes I've experienced on the only 2 swing trades I've taken with Capital Spreads in my first week with them:
Trade 1, GBP:CAD short.
Cue the 500 point spike:
Trade 2:
AUD:NZD long.
Cue the 400 point spike:
Neither of these spikes were replicated in the underlying markets and neither were they replicated on IG's platform or on any other platforms I've been able to check.
So, if these erroneous spikes had stopped out my positions, would Capital Spreads have reinstated those positions?
Getting stopped on that 500 point GBP:CAD move if trading a large stake would have been incredibly painful, particularly as the spike did not appear to exist in the underlying market.
I'd very much appreciate any input from someone with familiarity of Capital Spreads platform and details of how they are likely to react in these situations?
The sensible side of my brain is telling me that if I've experienced these occurrences in my first 2/3 trades, then I'd be a bit of a mug to deposit more money with them and trade larger stakes. At the same time, I'm hoping these instances really are one-offs and not likely to happen again because I do like their platform.
The tone of this post might have been somewhat different if
a) The 63 points I was "robbed" of occured when trading much higher stakes.
b) Those erroneous spikes had taken out stop losses if trading much higher stakes.
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Since placing my post above I've read back a bit further and noticed other people complaining about the execution price being different to what is shown on the ticket.
If other people have experienced the same thing then why the hell are they telling me on the phone that it is impossible and implying I'm making it up?
This is worrying me a bit.
I'm guessing the "Capital Spreads" poster is a genuine Caps employee. His take on my above post would be received with great interest.
So far, it looks like I may have to hunt for another SB provider and go through the whole risking my cash on a new platform thing all over again.
Why the hell have IG changed their charts. I'd have happily stayed with them if they hadn't messed around with them, and unfortunately cannot use their advanced charts during the bulk of the day as they interfere with a bespoke program I use (well, visa versa actually). IG never even had the courtesy to respond to any of my emails pointing out the major flaws in their new charts. That's another reason why I'm moving after so many years with them. Prior to that, I'd never had a complaint about them.
If other people have experienced the same thing then why the hell are they telling me on the phone that it is impossible and implying I'm making it up?
This is worrying me a bit.
I'm guessing the "Capital Spreads" poster is a genuine Caps employee. His take on my above post would be received with great interest.
So far, it looks like I may have to hunt for another SB provider and go through the whole risking my cash on a new platform thing all over again.
Why the hell have IG changed their charts. I'd have happily stayed with them if they hadn't messed around with them, and unfortunately cannot use their advanced charts during the bulk of the day as they interfere with a bespoke program I use (well, visa versa actually). IG never even had the courtesy to respond to any of my emails pointing out the major flaws in their new charts. That's another reason why I'm moving after so many years with them. Prior to that, I'd never had a complaint about them.
What was your exact high and low on the chart you have attached ? This IG chart shows a high spike of 12 721.1 and a low of 12 650.6 This is the same times as your spikes with cs taking place at 20.16 for the low and 20.19 for the high.
I know where your coming from regarding the new IG charts but they are not bad enough for me to leave....yet. I to have sent feedback on a number of chart issues. FXMC are getting good reviews at the minute.
What is it that you dislike about the new charts ?
I know where your coming from regarding the new IG charts but they are not bad enough for me to leave....yet. I to have sent feedback on a number of chart issues. FXMC are getting good reviews at the minute.
What is it that you dislike about the new charts ?
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GBP/CAD Rolling Daily also spiked badly twice on Monday 03/10. I'd have to regard this market as untradable.
Of course, there's always the possibility that someone on this site with nimble figures got in at the extreme of the spike, any takers?
Of course, there's always the possibility that someone on this site with nimble figures got in at the extreme of the spike, any takers?
stevespray
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Far be it for me to jump to the defence of a SB Co but I have found CS to be pretty fair over this kind of thing.
Whenever I have had a problem re 'a spike' they have always sorted it out to my satisfaction. In more complex situations CS staff have actually taken the time to work back over events in time order to ensure that order fills and stops are executed exactly as they would have been if they had been triggered and filled in real time.
Having said that, there are clearly times when their charts display incorrect information regarding price spikes. This tends to occur more on non-major crosses. Check out that 400 pip spike on GBPCHF on Friday morning (7/10/2011) as an example, there is no way that pair traded as low as the chart shows.
Regardless of who you trade with, I would always double check the filled level on all trades.
I'd also be very careful with IG Index, their T&Cs appear to allow them to fill stops in a manner which allows them to pick one of two methods when deciding the stop fill level. This basically allows them to cherry pick the worst level from your perspective if they so wish.
Steve.
Whenever I have had a problem re 'a spike' they have always sorted it out to my satisfaction. In more complex situations CS staff have actually taken the time to work back over events in time order to ensure that order fills and stops are executed exactly as they would have been if they had been triggered and filled in real time.
Having said that, there are clearly times when their charts display incorrect information regarding price spikes. This tends to occur more on non-major crosses. Check out that 400 pip spike on GBPCHF on Friday morning (7/10/2011) as an example, there is no way that pair traded as low as the chart shows.
Regardless of who you trade with, I would always double check the filled level on all trades.
I'd also be very careful with IG Index, their T&Cs appear to allow them to fill stops in a manner which allows them to pick one of two methods when deciding the stop fill level. This basically allows them to cherry pick the worst level from your perspective if they so wish.
Steve.
tar
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If there was an obvious erroneous spike then IG and Capitalspreads will correct your trade . Re the charts , you said you cant use IG advanced charts anyway , so what has changed ? you still can use the old basic charts , i didn't get your complaint .
Thank you for your reply.
The high on Caps chart was 1.2924 (200 points higher than IG's spike). The low was 1.2599 (50 points lower than IG's spike).
As for GBP:CAD, I've sucessfully traded it for years and found it technically a nice pair to trade. I've never previously been troubled by spikes, and as I mentioned, the huge spike I'm referring to was not replicated by other Spreadbetting providers.
There are a number of problems with IG's new charts which I don't feel is appropriate to fully discuss here, but for example:
MACD readings are incorrect.
I believe, but cannot prove that RSI readings are incorrect.
4 hourly candles start and finish from the wrong time, making drawn objects, trend lines and moving averages inaccurate.
When releasing the mouse to place a fib level or trend line, they move by a few points making them difficult to place accurately.
The highest and lowest candle resides at the extreme top or bottom limits of the chart window, meaning you have to drag the chart up or down to accurately fit trend lines or fibs, then when you scroll the chart to attach the other end of the trend line or fib, the candles are off the top or bottom of the screen. It can take quite a few minutes to accurately fit a trend line which is ridiculous.
These are the basic problems, but they are all major problems to me because my trading system relies extremely heavily on MACD accuracy and trend line accuracy on price.
Steve,
To be fair I've not had major problems with IG in relation to this after years of trading with them. Their spikes are virtually always replications of the real underlying market and on occasion their spikes are smaller than the spikes in the underlying.
What I will say about IG is that they'll skew spreads by a point or 2 at price extremes and I have on a quite a few occasions been stopped out at prices 1 or 2 points beyond where the underlying market went and beyond the price shown on their charts. Nobody can tell me otherwise, I've seen it with my own eyes and have even tested it. You just have to be slightly more generous with your stop placement - not an issue if you really believe in your own analysis behind a trade.
tar said:
tar,
I use IG advanced charts for most of my swing trading analysis but cannot open advanced charts during the day as they interfere with another program I run.
You cannot use the old basic charts anymore - they have completely removed them. Note that I trade IG Markets, not IG Index. I believe IG index still allow access to the old charts until November.
tar, You are saying that as there are an erroneous spikes on the Caps charts I've posted, then they will correct the trade. This is the answer I was hoping for. If you are sure they'd correct the trade then I'm happy to continue trading with Caps. Unfortunately, because of the situation I've already had where I lost out on 63 points I guess I have reason to be worried. If the Caps Spread employee poster also replied saying yep, we'd have reinstated your trade in both of the circumstances I've demonstrated, then I'd probably be more confident in continuing to use them and trading higher stakes.
Are there other traders who can back up tar's comments and state with reasonable certainty based on previous experience that Caps would have reinstated/corrected those trades?
Thanks to all who've responded to my posts thus far.
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tar
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Ah ok didnt know about IGmarkets charts i was talking about IGindex it is still there , why don't you use Cityindex charts and still trade with IG ?
