Best Thread Capital Spreads

Simon, If it was me in RS's situation, I certainly wouldnt let it lye as I think the circumstance 'as described' is unacceptable. How often if at all, do your platforms get inspected ? Is there a system of maintenance in place. 63 points ? I'd hang you out to dry.
What RS's have said so far hasn't proved anything, he will have to come back an report how it goes trading with CS. For all we know, the price could have changed the instant he clicked, even though he thought it didn't.

"Take control with Risk & Money Management"
 
gle101,

You are absolutely right.

But, when a serious trader takes time out of his/her (busy) day to make an issue of a situation on a bb, then chances are the issue is likely to be a valid one with good grounds.

I also run a serious trading forum, but, have not mentioned the issue on there because it's not the right place, i.e, I'm trying to paint a picture that I'm pretty damn sure I know what I saw or wouldn't be going to the extent of looking up a specific forum to post about it.

I will come back in a few Months and update on my trading with Caps.

Since the events detailed the other day, things have run smoothly with the platform, though I'm not sure if I like Capital Spreads charts as much as I thought I did at first. I think they were just a relief compared to IG's new offering, but they're not a patch on IT-Finance charts.
 
gle101,

You are absolutely right.

But, when a serious trader takes time out of his/her (busy) day to make an issue of a situation on a bb, then chances are the issue is likely to be a valid one with good grounds.

I also run a serious trading forum, but, have not mentioned the issue on there because it's not the right place, i.e, I'm trying to paint a picture that I'm pretty damn sure I know what I saw or wouldn't be going to the extent of looking up a specific forum to post about it.

I will come back in a few Months and update on my trading with Caps.

Since the events detailed the other day, things have run smoothly with the platform, though I'm not sure if I like Capital Spreads charts as much as I thought I did at first. I think they were just a relief compared to IG's new offering, but they're not a patch on IT-Finance charts.
Yes it sounds good, I am also not here on this forum to promote SB. In fact I have been quite negative towards CS a couple of years back, This year though, I have find them to be among the best. Charts I cannot comment on, I never use SB internal charts when trading SB.

____________
"Take control with Risk & Money Management"
 
mr figure

the problem is that everyone agrees on the time that the trade went through and therefore agree that the price of 81 was correct . The claimed price of 18 had not been printed on our charts or price engines for over 30 minutes. Not only this but the claim is that we were quoting 15 just before which makes it even more difficult for us to justify as this would mean a series of incorrect prices which did not show up on charts or audit trail. Can any client honestly claim to have been given a series of prices on our platforms which are over 30 minutes old without them appearing as price errors on the charts or audit trail.

Capital Spreads can hardly pay out to clients who claim they saw a different price and traded on it. otherwise we would be out of biz in about half an hour !

the client traded at a fair price at the time he traded. i am begining to wonder if he had two price tickets open and was watching another market (or watching the wrong market on the list display) but trading on GBP/CAD

simon
 
What you suggest is a very possible explanation simon, but I'm afraid that, if any conscientious trader had noticed the spikes on Monday 03/10, they should have binned GBP/CAD and regarded it as untradable, so the whole 18-81 scenario later that week should never have arisen.

I know from personal experience that rogue prices are discounted by CS, and I certainly don't believe the stories about SB companies spiking prices to hit some poor guy's £1/pt FTSE stop, but we can't trade a market based on a chart that is visibly defective, in the hope that the company will behave - or even - continue to behave - in a gentlemanly way.
 
Simon,

I'm sorry to see your post because it implies you simply do not believe what I've been saying.

I saw the profit on my trade 63 points more than the profit I won on the transaction once it executed. I absolutely guarantee that 100%

There isn't much more I can say - I know what I saw and I know the prices I tried to execute at.

I'm not an individual who has issues with SB companies or anything like that - In 5 years I've only ever phoned IG twice, and one of those times was just to close a trade, though I didn't actually get through.

I would not post something here making a statement that could potentially damage someones business (no matter how big or small the company) unless I was absolutely certain of my claims.

So please, believe me, your platform offered a price 63 points better than the price that was given after execution.

I spent some time testing the platform tonight on a number of DOW trades. On occasion the platform prices were lagging the underlying by a few 10ths of a second, but otherwise it worked smoothly. Had a couple of invalid prices which I think were due to that lag. I had a stop out on a sharp spike with no slippage, had an entry that gave me 1 point positive slippage and an exit that gave me 1 point negative slippage. All in all, I had no issues that concerned me. Overall volatility was lower than the recent average tonight, so not the most demanding test condictions, but still nothing untoward to report.

I understand you don't know anything about me other than my posts here, but I ask you to believe me in regards to that 63 points - It definitely happened exactly as I stated it happened. GBP:CAD was the only ticket I had open. I logged into the platform specifically to close that position. The only other open position was an AUD:NZD long (which I still have).
 
Simon,

I'm sorry to see your post because it implies you simply do not believe what I've been saying.

I saw the profit on my trade 63 points more than the profit I won on the transaction once it executed. I absolutely guarantee that 100%

There isn't much more I can say - I know what I saw and I know the prices I tried to execute at.

I'm not an individual who has issues with SB companies or anything like that - In 5 years I've only ever phoned IG twice, and one of those times was just to close a trade, though I didn't actually get through.

I would not post something here making a statement that could potentially damage someones business (no matter how big or small the company) unless I was absolutely certain of my claims.

So please, believe me, your platform offered a price 63 points better than the price that was given after execution.

I spent some time testing the platform tonight on a number of DOW trades. On occasion the platform prices were lagging the underlying by a few 10ths of a second, but otherwise it worked smoothly. Had a couple of invalid prices which I think were due to that lag. I had a stop out on a sharp spike with no slippage, had an entry that gave me 1 point positive slippage and an exit that gave me 1 point negative slippage. All in all, I had no issues that concerned me. Overall volatility was lower than the recent average tonight, so not the most demanding test condictions, but still nothing untoward to report.

I understand you don't know anything about me other than my posts here, but I ask you to believe me in regards to that 63 points - It definitely happened exactly as I stated it happened. GBP:CAD was the only ticket I had open.
I logged into the platform specifically to close that position. The only other open position was an AUD:NZD long (which I still have).
Sorry, no offense intended, if you had recorded the trade, I would have believed you, otherwise this "believing what I see" is a source of error. I made the same mistake myself, after that I recorded many trades and I was surprised to find out I was wrong.

____________
"Take control with Risk & Money Management"
 
What you suggest is a very possible explanation simon, but I'm afraid that, if any conscientious trader had noticed the spikes on Monday 03/10, they should have binned GBP/CAD and regarded it as untradable, so the whole 18-81 scenario later that week should never have arisen.

tomorton,

The GBP:CAD trade was a good trade - I need to make money and don't want to be in a position to have to ignore a great trading set-up because I don't trust my broker.

It's not really relevent to this, but I'll point out just in case it is that I also took that same GBP:CAD position in my IG account. That position was closed 1 minute prior to closing the Capital Spreads position. Reason for duplication was simply as my main funds are still deposited with IG so I could trade a larger position size whilst testing Caps platform with a smaller position size.

The GBP:CAD spikes of Monday 03/10 were specific to Capital Spreads, as shown in these chart comparisons:

Capital Spreads:

GBPCADspikesCapsSpreads.jpg



IT-Finance:

GBPCADspikesITFinance.jpg


Each Capital Spreads spike went 200+ points beyond the limits of the IT-Finance candle limits and the big spike was around 500 points top to bottom on capital Spreads chart compared to the 50 points top to bottom on the IT-Finance chart.

Looking through Capital Spreads charts, this type of thing seems common, but I've no idea if the spikes are reflected in the ticket price as none have reached my stop loss levels thus far.


And if you are interested in reading about the reasoning for the GBP:CAD trade, I wrote about it before entering the position, and that can be found here: http://www.indexswingtrading.com/gb...potential-short-entry-for-wc-3rd-october-2011
 
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mr figure

The claimed price of 18 had not been printed on our charts or price engines for over 30 minutes. Not only this but the claim is that we were quoting 15 just before which makes it even more difficult for us to justify as this would mean a series of incorrect prices which did not show up on charts or audit trail.
simon

Simon,

That is not correct - Look at the 1 minute candles and you will see the price of 18 was printed around the seconds that I closed the trade. This print is shown on multiple charts from different data providers, but, the Bloomberg screen shot customer services sent me shows that 18 was not printed at the precise moment I pressed the button. I have no evidence to prove which second I pressed the button - I have to believe your customer services on that one. I have been given 3 different seconds across 3 different emails so far (All differ to the exact time shown in the platform trade history). One of those seconds was 12:31:29 and your tick chart does show a tick of 1.5916 at that time.


mr figure

Can any client honestly claim to have been given a series of prices on our platforms which are over 30 minutes old without them appearing as price errors on the charts or audit trail.

simon


One other final thing about "believing me".

I don't have it any more as I didn't screen shot it, but the tick data on the chart also showed 1.5918 (and other numbers around that level) as I was looking at it when on the phone to customer services. If anyone is able to access it (Simon?), take a look at the tick on GBP:CAD at approx 12:31:29 on Thursday 6th October.

Ok, the fact that the print occurred on your own chart isn't proof that it also displayed on the ticket, but surely it adds weight to my account of the version of events.
 
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Hi RS2000 - I'm not sating your TA was bad, I'm not saying anything against trading GBP/CAD in general, it's just that, while their charts are obviously seriously misleading, trading this through CS would not be the right instrument.
 
Hi RS2000 - I'm not sating your TA was bad, I'm not saying anything against trading GBP/CAD in general, it's just that, while their charts are obviously seriously misleading, trading this through CS would not be the right instrument.

Should SB providers expect clients to know more than they do? RS's well-reasoned argument and chart evidence seem to show that CS knowingly supplied dud data.
 
i do not know how many times i must say this but... chart prices are indicative (it says so in the bottom RH corner). They are taken from the bid side of the market as the vast majority of our trades are in fixed spread markets.

we could give the charts as 'mid' or 'offer' but 'mid' would muddy the water a bit as odd number spread markets (i.e spread of 1 or 3 or 5) would not indicate what the actual high or low was. and 'offer' is the same as bid just the other side.

Every trade/stop/action accepted by Capital Spreads must be referenced to the real market. If there is an error against the client and Capital Spreads executes a trade a price not represented by the underlying market then we must reverse it. If a client manages to get an advantageous trade away on a price error.. then it is our job to find it.. if we dont then the client wins. This is a one-way effect that is very much in favour of clients as they are under no obligation to tell us if there is an error but Capital Spreads most certainly must inform the client.

no matter how we cut this, the market at that time was not at the prices apparently seen by RS.

Sorry but that is it. Not only this, but the market continued to rise for the next three/four hours after he bought, rallying another 100 points.

Whether an erroneous print is displayed on a chart/ticket or not.... it is still an erroneous price.

Simon
 
Surely if you were trying to buy 63 pips below the actual market price, you would have been auto rejected/ sent for dealer referal and rejected any way?

Also, if you had been able to execute at that price it would have been reveresde as it's clearly a bad tick?
 
Quite possibly PauloP,

I realise that this has dragged on the thread a bit so don't fully expect many to have read through since my first post on the matter, but the point you raise isn't really the issue that concerned me.

I have a few swing trades lined up for the coming weeks so I'll see how they go and report back with any findings, good or bad.
 
ross

knowingly supplied dud data..!? whoa

yes i must admit that i personally look at the GBPCAD, which is really a massive market for Capital Spreads(!??), and deliberately caused spikes that caused clients to make incorrect trades.

What possible purpose could we have to create an erroneous spike in prices? It does not benefit us at all as we must reverse any trades made on such events. As soon as such an event is shown to have affected clients Capital Spreads must reverse any such trades/orders etc. And if we tried to hide such occurences do you not think that a whistle blower or ex-member of staff would not have told the regulators or people on this thread?

Simon
 
ross

knowingly supplied dud data..!? whoa

yes i must admit that i personally look at the GBPCAD, which is really a massive market for Capital Spreads(!??), and deliberately caused spikes that caused clients to make incorrect trades.

What possible purpose could we have to create an erroneous spike in prices? It does not benefit us at all as we must reverse any trades made on such events. As soon as such an event is shown to have affected clients Capital Spreads must reverse any such trades/orders etc. And if we tried to hide such occurences do you not think that a whistle blower or ex-member of staff would not have told the regulators or people on this thread?

Simon

But if RS's charts and supplied quotes were matching on the occasion he was talking about, and these don't tally with what was actually happening? Why should the client be expected to know there was an arror?

Anyway, as we've been through here before, if a SB quotes a fixed spread based on the midpoint of a market with a variable spread, there will be times when the price won't relate to what was actually traded.
 
gle101,

In all honesty, who knows.

I only built this PC a few weeks back so it's pretty fresh, albeit not the highest of current specs.

It is potentially possible the price changed at the time I clicked, but I did not see that happen, and bear in mind I attempted to close this trade at the same price 3 times in a row in under 30 seconds, so I was pretty focused on what the ticket was displaying and on what my profit level was showing.

I will now wait and see if similar occurrences happen in the future. The more occurrences, the more weight I've got in relation to proving an issue. If it doesn't happen again, then it was obviously just one of those things.

Seeing some of the spikes on various charts, which are also replicated in the chart tick data added to my concerns surrounding the whole issue.


Other than that 63 points, which value wise was covered by that £250 introductory bonus (although that isn't reason to accept the loss), I have not technically lost any money and have been fortunate enough to have been quite profitable in the account over all. In fact, I could withdraw all of my original deposit and still have a 4 figure sum to trade from - not sure whether it's coincidence or something about their platform or even a psychological thing, but % wise my returns have been higher with Caps over the last 2 weeks than they have been with IG. That said, the stakes have been much smaller so maybe a little less risk aversion in stretching the extra few points out of a trade.

RS2000

Thats the usual reply, the price must of changed as you clicked. My eyes can see the price changing when I click and i know my trade price wiill be lower or high and i have seen where the price changed just after I clicked and knew what price I traded at.

Today the ticker stuck on all the markets I had up but the charts were moving, I am going to keep my phone on camera to film it next time it happens.

Nobody believes you when post on here.
 
ross

my analysis posted on 7063 was based on the 1 minute chart (which we can no longer see unfortunately) looking at this chart there were no ticks down to 15 or 18 in the period mentioned. Whilst i can accept that many clients will not know where the underlying market is at any particular moment and are taking our prices as thier information point this particular instance just has no back up on any of our audit points.

I will try to get the 1 min chart from sensatus (who provide them) for the period mentioned to demonstrate this particular problem from our point of view.

Pot Shot
if your tickets freeze then just reboot the page (frozen tickets must be pretty obvious as there will be no price action). I have to say though that my home internet has been very poor in recent months, i am beginning to wonder if some sort of capacity for regional internet provision is being reached. Hotmail/online shopping/trading platforms etc seem to lose connection for no reason at all.

Our platforms are actually hosted outside of london but the Login to Capital Spreads on my PC at work remains up and logged in for day after day after day with no problems.
 
Hi all , I was wondering is Capital Spreads good for trading FTSE 350 Shares or are there any other spreadbetting companies with tighter spreads ?

Thanks
 
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