Best Thread Capital Spreads
RUDEBOY said:
I have followed this whole post with astonished interest.
I can't comprehend why so many people seem to persevere with Capital spreads. Isn't trading difficult enough without compounding it by using what appears to be a totally ***p broker that can't even execute a trade in a timely fashion.
I use both a spread betting account and an account with a major US brokerage.
My SB trades are always executed immediately. I scalped loads of points yesterday over NFP data. I did 10 trades yesterday afternoon, during which time, I got one requote which cost me 4 points. (but in a fast market that was not unreasonable)
I also remember back to 7th July when the bombs went off and many brokerages froze their platforms. I was able to trade without any problems.
I have used the same firm for three years without any problems at all, yet I see people reporting problems daily with this mob.
if I had to wait 5 seconds (which seems to be their benchmark), let alone 25 seconds + to fill a trade; i would be off.
I am also astonished that people are so negative about SB firms: I have my SB price screen and my broker price screen open at the same time and the prices are never more that 1 pip away from each other. 9and the spread is about the same)
So why is using SB firms for amateurs? - I am more than happy with the service, and the tax position makes it irresistable to use. (at least up to a certain size of trade)
I use the 'traditional' broker for some US based accounts that I manage and also for my own account because I have an offshore company to trade through. - otherwise I would be happy to do all my trading through spreadbetting.
(You may be able to tell that I have an aversion to paying tax)
My advice to anyone using Capital Spreads would be: 'don't put youself through it; there are some good spread betting firms out there'.
coolTrader
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People stay with them because they are good. The problem is you don't know when the system is going to break!
Simon has said the new software should be up early next year. Let us wait and see.
Simon has said the new software should be up early next year. Let us wait and see.
Spreadbetteur
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"Simon has said the new software should be up early next year. Let us wait and see."
Simon said
Come on guys.
Are we at play school ?
Simon is trying to do a good PR job, by joining Capital Spreads discussion, on this site. A good idea if you have a product to stand by. Not sensible if the product is falling apart.
I saw this thread today on Elite Trader. Guys discussing ping (Internet speed) and how it effects order execution.
http://www.elitetrader.com/vb/showthread.php?threadid=55173
"Say for example you are in Australia and you connect to Eurex to trade the DAX - Your 'ping' is around 250-350 - while not slow - the traders in Europe have a slight edge in data-speed."
Perhaps these guys should be introduced to ping speed at Capital Spreads. They are discussing milliseconds and we are discussing double digit seconds, sometimes in the 20's.
Their ping meters would start to malfunction, if they tested Capital Spreads.
Are we the schmucks here ? I think so. Capital Spread are not. They are skimming it, absolutley no question about it. How much did they rake in, in the hour after NFPR's on Friday, by just filling entries which have run against the client and price expiring everything else.
On Friday afternoon, I had 1 out of 8 entries filled and suprise suprise that was the only one when the price had moved against me in the 13.3 seconds (My Rolex Oyster Perpetual) it took to fill. Yes we are the schmucks.
"At Capital Spreads We Take You From Beginner To Budding Pro"
Simon said
Come on guys.
Are we at play school ?
Simon is trying to do a good PR job, by joining Capital Spreads discussion, on this site. A good idea if you have a product to stand by. Not sensible if the product is falling apart.
I saw this thread today on Elite Trader. Guys discussing ping (Internet speed) and how it effects order execution.
http://www.elitetrader.com/vb/showthread.php?threadid=55173
"Say for example you are in Australia and you connect to Eurex to trade the DAX - Your 'ping' is around 250-350 - while not slow - the traders in Europe have a slight edge in data-speed."
Perhaps these guys should be introduced to ping speed at Capital Spreads. They are discussing milliseconds and we are discussing double digit seconds, sometimes in the 20's.
Their ping meters would start to malfunction, if they tested Capital Spreads.
Are we the schmucks here ? I think so. Capital Spread are not. They are skimming it, absolutley no question about it. How much did they rake in, in the hour after NFPR's on Friday, by just filling entries which have run against the client and price expiring everything else.
On Friday afternoon, I had 1 out of 8 entries filled and suprise suprise that was the only one when the price had moved against me in the 13.3 seconds (My Rolex Oyster Perpetual) it took to fill. Yes we are the schmucks.
"At Capital Spreads We Take You From Beginner To Budding Pro"
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abobtrader
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I agree, its just papering over the cracks, in the hope that the cracks will soon be fixed...if not, there will be a desertion of customers...I hope it gets sorted.
: )
: )
donaldduke
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microsoft said:
microsoft,
You are spot on, they get your order in milli seconds and can fill it straight away if they wanted to. Ofcourse if they did this then how would they make money?
The idea was that spread bet companies make money from a wide spread with some betting against cutomers being icing on the cake, but with competition the spreads have become almost non existant. So the only way to make money now is for them to trade against punters.
That means they need to have an edge over their customers. And that edge is obtained by giving users unfavourable executions.
Ofcourse in the early days Capital Spreads werent this bad, when i joined T2W in Jan 04, they were still the new kids on the block and had a good reputation because of the quality of service, but that seems like it was just a ploy to help get established.
coolTrader
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Simon, Lots of angry people here 
. I guess you may not be responding this side of the year :cheesy:
. I guess you may not be responding this side of the year :cheesy:
Spreadbetteur
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"The geeks on this forum" have now discovered Pingometers.
I have noticed that these Capital Spreads issues have started to appear on other forums as well now.
"I would generally say that longer than 25 secs is too long but under that is (just about) acceptable."
I have noticed that these Capital Spreads issues have started to appear on other forums as well now.
"I would generally say that longer than 25 secs is too long but under that is (just about) acceptable."
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Spreadbetteur
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I am going to quit using Capital Spreads until Simon confirms here that he believes that they are now as fast or better than the competition. The competition being CMC (Deal For Free), Finspreads, AC Markets, Oanda. Currently due to execution speed and the filtering of fills they are way behind the others. Way behind. All companies listed above are able to offer near instant fills as the norm with hardly any requotes, using the same Internet that Capital Spreads does.
The worry is that Capital Spread feel that they will make more money by continuing with the same model, even taking into consideration the complaints here and elsewhere. So lets see if we get nice PR delay comments or some real competitive action.
I assume their white label partners, such as E Trade, are having the same issues, as I think there business is run through the same 25 second dealing team.
The worry is that Capital Spread feel that they will make more money by continuing with the same model, even taking into consideration the complaints here and elsewhere. So lets see if we get nice PR delay comments or some real competitive action.
I assume their white label partners, such as E Trade, are having the same issues, as I think there business is run through the same 25 second dealing team.
Spreadbetteur
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FInancial Services Authority
How To... Complain about a Firm
http://www.fsa.gov.uk/consumer/02_HOW/Complain/mn_complaint.html
http://www.fsa.gov.uk/consumer/02_HOW/Complain/mn_Ihaveacomp.html
"I would generally say that longer than 25 secs is too long but under that is (just about) acceptable."
How To... Complain about a Firm
http://www.fsa.gov.uk/consumer/02_HOW/Complain/mn_complaint.html
http://www.fsa.gov.uk/consumer/02_HOW/Complain/mn_Ihaveacomp.html
"I would generally say that longer than 25 secs is too long but under that is (just about) acceptable."
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BroadSword
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Spreadbetteur said:
Absolutely...
I appreciate that CS offer more than just FX, however, if you are only trading FX, there is simply no comparison. Oanda offer 24hr trading (CS don't), near instant execution (lets just say less than 1 second), and better spreads (euro/dollar 1.5 pips)
fxmarkets
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hmmm, thats why I thought about the idea of capital spreads working with the customer, making sure that the client gets as near to wholesale cost of market + 0.25/0.5 a tic for CS then then charging a close out spread on successful gains 20% of net $/£ gain..... almost like a profit split relationship but totally removes supsicions, skewing the entries etc... just a new way for a SB of using its customers to make money .
Now i'm not sure that this can be done with the law in spreadbet ive asked the question a couple of times with no reply....... I dont use spreadbet myself, but see it as a good idea.... revolutionary but will pull in customers, up to a certain level to £ 100/300 a tic
why wont it work ?
can it be done if the SB wanted it?
Simon, any comments, can it be done under present law?
Now i'm not sure that this can be done with the law in spreadbet ive asked the question a couple of times with no reply....... I dont use spreadbet myself, but see it as a good idea.... revolutionary but will pull in customers, up to a certain level to £ 100/300 a tic
why wont it work ?
can it be done if the SB wanted it?
Simon, any comments, can it be done under present law?
FXMARKET
Good point on the above post.
I have had an account with C/S for some time although I don't use them much. I also have an account with CMC. Anyway I had a go trading with them this week when they introduced 2 pip spread on the EUR.and I must say I had an advantage over them, their price feed was playing up, acting a little aggressive on changing... quoting 1,1690/92 and jumping to 1,1695/97, the underling market was trading at 1,1696 anyway it jump back to 92 to buy, so i bought and got filled although the market was at 96 bid. then C/S prices would catch up and as soon as they did I got you with a small 4 point profit.with no problems getting filled. It then went to phone trading after I done this a few times. I called them up to see what was happing,they said they are having some problems with updating, later on they fixed it, and to be honest their prices was smooth in line with my charts. I done 11 trades 2 not filled. this was when the prices was out of line, with the underling market. I was only trading 3 pound a point. I will put them to the test next week,trading cable and eur in afternoon trading to see how they are before, I decide to up the stake and trade with them over Berkely futures I keep you informed how I go.But I must say did not find them to bad as the above post have pointed out.
Simon if you got a successful trader making money is there an easy way you can act quickly and hedge with another company and maybe do the same bet as him or her. and make some money you self out of it.Maybe when you see trader A making a trade a red flag will come up on your screen so you can hedge quickly
Good point on the above post.
I have had an account with C/S for some time although I don't use them much. I also have an account with CMC. Anyway I had a go trading with them this week when they introduced 2 pip spread on the EUR.and I must say I had an advantage over them, their price feed was playing up, acting a little aggressive on changing... quoting 1,1690/92 and jumping to 1,1695/97, the underling market was trading at 1,1696 anyway it jump back to 92 to buy, so i bought and got filled although the market was at 96 bid. then C/S prices would catch up and as soon as they did I got you with a small 4 point profit.with no problems getting filled. It then went to phone trading after I done this a few times. I called them up to see what was happing,they said they are having some problems with updating, later on they fixed it, and to be honest their prices was smooth in line with my charts. I done 11 trades 2 not filled. this was when the prices was out of line, with the underling market. I was only trading 3 pound a point. I will put them to the test next week,trading cable and eur in afternoon trading to see how they are before, I decide to up the stake and trade with them over Berkely futures I keep you informed how I go.But I must say did not find them to bad as the above post have pointed out.
Simon if you got a successful trader making money is there an easy way you can act quickly and hedge with another company and maybe do the same bet as him or her. and make some money you self out of it.Maybe when you see trader A making a trade a red flag will come up on your screen so you can hedge quickly
coolTrader
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badtrader said:
This can also be a problem when you don't know what the real price is as I have got bad fills that led to instant loss.
It's ok specialing in one time frame, that's up to you. But anyone who knows anything about the markets will tell you that the markets are essentially split three ways, short, mid and long term. Trying to take the markets on short term using SB is not a good idea. That's fact.
