Dealingdesk

[Phil Mibbutz]

Still confused about spreads: for instance, the DD site appears to quote 4pt on Dow, but people here have said it's actually 2pt? Are they trying to keep it a secret, or what? Not very confidence-inspiring if their own info is incorrect.

 

[capitalspreads]

officially (on DD) our spreads are 4 in the dow, 3 in GBP/USD and 2 in Eur/USD

but in October last year we put them to the narrower spreads of 2, 2 and 1 respectively as a test to see if the sytem was good enough to take it.

as the official spreads are still the wider ones that is why the Product Info Sheets say this. Rather like a 'special offer' that are often run by our competitors. This one has now been going for 5 months with no problems but is stll not formalised. At some point DD will probably 'officially' move to the tighter spreads and change the information sheets but not just yet.

But it must be remembered that DD is a White Label and, in the end, it is up to them. LCG does not spend advertising bucks on WL partner's sites and DD does not advertise outside it's own sphere

 

[gle101]

officially (on DD) our spreads are 4 in the dow, 3 in GBP/USD and 2 in Eur/USD

but in October last year we put them to the narrower spreads of 2, 2 and 1 respectively as a test to see if the sytem was good enough to take it.

as the official spreads are still the wider ones that is why the Product Info Sheets say this. Rather like a 'special offer' that are often run by our competitors. This one has now been going for 5 months with no problems but is stll not formalised. At some point DD will probably 'officially' move to the tighter spreads and change the information sheets but not just yet.

But it must be remembered that DD is a White Label and, in the end, it is up to them. LCG does not spend advertising bucks on WL partner's sites and DD does not advertise outside it's own sphere

Hopefully they will formalize the spread in the near future. Because, in the meantime we are doing all the marketing for them (and you) for free.

 

[gle101]

But it must be remembered that DD is a White Label and, in the end, it is up to them. LCG does not spend advertising bucks on WL partner's sites and DD does not advertise outside it's own sphere

Simon, you said that it's ok to transfer a CS account to DD. I am little bit confused about this statement. Even though DD is a white label of LCG, can you say who is the actual owner (the company who license the domain name and platform) of the Dealingdesk white label outfit? I wouldn't be surprised if the owner is within the sphere of LCG. Dealingdesk could also be associate with Saxobank in some way or the other. In a case of a dispute this must be made crystal clear.

 

[capitalspreads]

gle101

clients do not sign up to DD or Saxo or CS or PP or TF or any one of our sixteem WL's they sign up to LCG. The trading site URLs also belong to LCG for the term of the contracts with the WLs. If any client wishes to move from one platform to another that is entirely his choice and as the client has already agreed the terms and conditions with LCG then there is no problem about doing this.

Of course I would prefer all clients to be with CS as we must pay revenue to WLs for client trades on their platforms! In saying that clients can move to DD freely i am just stating a fact, I do not actually want them to do so! When CS has been converted to the new platform then this will all become academic.

when i said in the previous comment it was "up to DD" i meant "what spread they wish to charge".

simon

 

[gle101]

gle101

clients do not sign up to DD or Saxo or CS or PP or TF or any one of our sixteem WL's they sign up to LCG. The trading site URLs also belong to LCG for the term of the contracts with the WLs. If any client wishes to move from one platform to another that is entirely his choice and as the client has already agreed the terms and conditions with LCG then there is no problem about doing this.

Of course I would prefer all clients to be with CS as we must pay revenue to WLs for client trades on their platforms! In saying that clients can move to DD freely i am just stating a fact, I do not actually want them to do so! When CS has been converted to the new platform then this will all become academic.

when i said in the previous comment it was "up to DD" i meant "what spread they wish to charge".

simon

Thanks a lot Simon. Yes it is quite clear now, but not crystal clear. From a legal point of view, one signs up with LCG, so in case of a dispute, LCG is to be contacted. The question is, who is responsible for the marketing being made on behalf of a WL? The Url's belong to LCG, so I take it for granted that you own a domain name of your WL setup saxospreads.com. You didn't answer the question who's behind Dealingdesk. I guess you don't like to disclose the setup with this particular WL at this time. Usually, there is no problem about being completely transparent regarding white label setups. My apologies in case you just forgot to mention it. It is not my meaning being besserwisser, I just want some clarity on this issue.

I did'nt have a clue that you are entitled to move your LCG account freely between CS and the white label setups. I guess I have to read the T&C more carefully.

Any time plan for converting CS to the new platform?

 

[capitalspreads]

gle

we only move a client if they ask us to do so as we have already KYC'd the client.

LCG cannot move an account on its own.

DD is the WL of a company called Goldline Systems (although not sure if they still market the product) which was a technical trading tool.

hopefully CS will be there "end of May"

simon

 

[gle101]

gle

we only move a client if they ask us to do so as we have already KYC'd the client.

LCG cannot move an account on its own.

DD is the WL of a company called Goldline Systems (although not sure if they still market the product) which was a technical trading tool.

hopefully CS will be there "end of May"

simon

Thanks for the information Simon. Yes, Goldline Systems will definetely strike gold if they continue in the way they have started.

I am looking forward to when CS transform into the new platform.

 

[yacarob1]

Goldline Systems

Is that the same bunch of cowboys who used to market their "system" for £ 5000 ?

There are threads on here where they got slagged off mercilessly for selling a duff product at exorbitant cost.

 

[Tenapenny]

Goldline Systems

Is that the same bunch of cowboys who used to market their "system" for £ 5000 ?

There are threads on here where they got slagged off mercilessly for selling a duff product at exorbitant cost.

I think they probably are one and the same if you check these links. goldline index page

Home Trading, Financial Home Trading Software, Day Trading Course

Here's a review of them. Goldlinesystems review

 

[gle101]

I don't know anything about this company or what they have done in the past. However, It is my viewpoint they should come out more in the open and present themselves on the Dealingdesk.co.uk website, and the company behind the web service they provide. If they are consistent in their performance they will be all right. It seems they are at the moment in the testing phase, and have been so for a couple of months. The good part is that LCG takes full legal responsibility for the accounts created through their white label program. In other words, as I understand it, if Dealingdesk ceases to exit, all funds are fully secured through LCG.

 

[Tenapenny]

I would imagine your funds are safe with LCG. The links just point to what goldline have or are doing and a review of their system and marketing.

 

[gle101]

I would imagine your funds are safe with LCG. The links just point to what goldline have or are doing and a review of their system and marketing.

Yes, thanks for the links.

 

[yacarob1]

So, can anyone explain exactly how DD and Goldline are related ?

Cos, to be quite honest I would be very wary of dealing with a company that had any direct involvement with Goldline.

 

[gle101]

So, can anyone explain exactly how DD and Goldline are related ?

Cos, to be quite honest I would be very wary of dealing with a company that had any direct involvement with Goldline.

According to Simon, the company that license the platform is Goldline Systems.
"DD is the WL of a company called Goldline Systems (although not sure if they still market the product) which was a technical trading tool."

 

[gle101]

Cos, to be quite honest I would be very wary of dealing with a company that had any direct involvement with Goldline.

Why, there is no risk involved. The way they perform is my main concern. So far they have provided excellent service. I will stay with them as long as this is the case.

 

[gle101]

Any problem guys, trading with Dealingdesk? I still haven't had a single "price invalid". Price feed and execution is fast. I have had no problem with freezing or any other kind of bad behavior from this SB, even during news releases. The spread is really good and they have open hours that correspond with the future market. Is this too good to last?

 

[Phil Mibbutz]

Any problem guys, trading with Dealingdesk? I still haven't had a single "price invalid". Price feed and execution is fast. I have had no problem with freezing or any other kind of bad behavior from this SB, even during news releases. The spread is really good and they have open hours that correspond with the future market. Is this too good to last?

Probably!

 

[gle101]

Probably!

Yes, usually this kind of spread, speed and execution will not be consistent over time. However, I believe competition is increasing rapidly, and traders will not accept secondary service anymore. The mobility of traders, switching between SB company will also contribute, and add to that SB companies are shaping up their service.

 

[rwb]

GLE, totally agree, they've been very good and difficult to believe that this is a CS WL. Don't think it is 'too good to last', all SB's are having to sharpen up due to increased competition and the trend seems to be for better reliability and lower spreads all round (at least on Fx). IG, ODL and VDM also now offering better spreads on EU and GU in my own experience.

Any problem guys, trading with Dealingdesk? I still haven't had a single "price invalid". Price feed and execution is fast. I have had no problem with freezing or any other kind of bad behavior from this SB, even during news releases. The spread is really good and they have open hours that correspond with the future market. Is this too good to last?