prospreads.com

[Liquid validity]

What happened?
Did it go to phone only?
Any icon for that?
IG do that at times, usually only illiquid stuff though.

Or their feed dropped.

 

[ProSpreads]

What happened?
Did it go to phone only?
Any icon for that?
IG do that at times, usually only illiquid stuff though.

Or their feed dropped.

Sir we do not do 'phone only' its not our practice here,
when contracts roll from the front month into the next available (tradable) we open that month up, if a client wishes to trade a market a few years in the future then they have to ask as for Dec silver agreed this is now the front month and has been opened to trade

PS

 

[Liquid validity]

Sir we do not do 'phone only' its not our practice here,
when contracts roll from the front month into the next available (tradable) we open that month up, if a client wishes to trade a market a few years in the future then they have to ask as for Dec silver agreed this is now the front month and has been opened to trade

PS

Well whatever the reason, it was temporarily unavailable from the sound of it.
Happens from time to time with most brokers.
I don't know as I don't use PS, so thats me done in this thread anyway.

 

[Phylo]

LCG to sell Prospreads

LCG has agreed to sell Prospreads ...... perhaps old news by now. Posted for the benefit of those that do not know.

 

[Visaria]

LCG has agreed to sell Prospreads ...... perhaps old news by now. Posted for the benefit of those that do not know.

Thanks for this, i did not know. Not good news.There was some security in that a quoted operator LCG owned this outfit; there is somewhat less comfort in an unknown entity now owning them.

 

[ProSpreads]

Thanks for this, i did not know. Not good news.There was some security in that a quoted operator LCG owned this outfit; there is somewhat less comfort in an unknown entity now owning them.

Hi All

All good news. Please feel free to call me anytime directly on 0203 370 6220, so that I can reassure you on any aspect of the change of control.

Best regards

Simon Brown
CEO
Prospreads

 

[Vasco da Banana]

Interesting that the article says: ProSpreads provides direct market access ("DMA") spread betting products on financial markets that are aimed at professional clients.. Hasn't it been established that it's not DMA and can't be if it's SB?

 

[montmorencyt2w]

And so another spread betting thread dies a lingering death, seemingly.

Could this be the reason, I wonder?

http://www.proactiveinvestors.co.uk/companies/news/62801/london-capital-group-waves-farewell-to-prospreads-62801.html

London Capital Group waves farewell to ProSpreads
By John Harrington November 01 2013, 8:01am London Capital Group waves farewell to ProSpreads
London Capital (LON:LCG) said the sale of its spread betting subsidiary ProSpreads has now gone through.
The sale of the Gibraltar-based subsidiary to to Apostar Holdings Limited was announced on 13 September 2013.
The disposal will allow London Capital Group (LCG) to focus on its core businesses and consolidate its financial resources.
"As previously announced, we took the decision to realign our business in order to invest in a focused way on our growth areas and today's announcement is part of our delivery on this strategy," said Kevin Ashby, LCG's chief executive officer.

(and not because it was losing them money, I suppose).

ProSpreads made a profit of £100,000 in the first half of 2013 on revenue of £700,000 but in 2012 it was loss-making, losing £600,000 on takings of £1.1mln.

Stone me! So it's not just spread-betting customers who lose money!

[Old news, I know...]

 

[A Dashing Blade]

[Old news, I know...]

Quite, 1 year old to be precise.

 

[montmorencyt2w]

Quite, 1 year old to be precise.

Yes. - I've been out of the game for a while.

Old news, but not discussed on here at the time, apparently, at least not in this thread, where you might think it would be relevant. Is everyone asleep, or did they all desert the sinking ship ahead of time?


Well since everyone says that most retail traders lose (and especially most spread betters), you might wonder (well, I do) how is it possible for a spead-bet company to lose money.

Well, in the case of Prospreads, they were supposedly appealing to the professional trader market, and maybe not enough of them lost.

EDIT: Although I later noticed that someone had posted about it in another Prospreads thread, in September 2013, here:
http://www.trade2win.com/boards/spread-betting-cfds/78806-prospreads-spread-vs-dma-conflict-19.html#post2195852

...but it provoked no discussion. (Which I find curious).

 

[ProSpreads]

Hi All

Happy to answer any questions you may have on the ProSpreads service.
Look forward to hearing from you soon..

We have been spending 2014 increasing the number of platforms that are available to our clients. As you know , we have always focused on the more professional end of the market, and this continues with the introduction of TT (Trading Technologies), Bloomberg & Fidessa, to accompany our main multi asset DMA platform.

Best regards

Simon

 

[rawrschach]

I don't see it listed on your website, how do you access them? I stopped using you because of your crappy ladder but if you have TT I'm back on board.

Full size accounts only or micro as well?

 

[Xeno]

Currently what are the options for autotrading using a programming language?

 

[ProSpreads]

We do offer xTRADER PRO as well as the basic xTRADER and both have the full functionality you would expect from TT. Bolt on TT services are also available.

There is no monthly platform charge for using xTRADER however there will be a pence per lot charge of 50p (GBP) that would be added to all trades. There is a minimum of 500 lots per month (250 round turns) you would have to do to use the platform through us for spread betting. In addition we are offering xTRADER starting on our Band 2 (200+ lots) charges and would be happy to offer bespoke rates for 1000+ lots per month.

If you would like any further information or would prefer to speak to us, please do not hesitate to drop us an email or call us.

 

[rawrschach]

When you say you offer bloomberg what do you mean? Access to their platform?

 

[ProSpreads]

Hi
It is possible to trade via Bloomberg if you have your own Bloomberg terminal.

 

[Xeno]

pence per lot charge of 50p (GBP) that would be added to all trades. There is a minimum of 500 lots per month (250 round turns) you would have to do to use the platform through us for spread betting. In addition we are offering xTRADER starting on our Band 2 (200+ lots) charges and would be happy to offer bespoke rates for 1000+ lots per month.

I'm a bit confused - there's a minimum of 500 lots to use xTrader, but you also offer it on a 200+ band.

So it's pretty impossible to test/dryrun strategies without trading at least 200/500 lots per month? That's not very attractive - most people doing auto trading will want to do some serious testing before running live.

 

[ProSpreads]

ProSpreads has two bands of spread charges:
0-200 lots/month(across all products, band 1) are at a higher spread charge than volume in excess of 200 lots/month (band 2, 200+).
TT users will not go through the first band, but start at band 2 spread charge; albeit I accept they have to do a minimum of 500 lots/month.

Although I understand that for testing purposes, you may need to doing smaller volumes, for live account clients will need to adhere to the minimum of 500 lots.

 

[Xeno]

Although I understand that for testing purposes, you may need to doing smaller volumes, for live account clients will need to adhere to the minimum of 500 lots.

Actually for testing purposes I'd like to be able to do no volume!

It's academic anyway - this from XTrader website

Autotrader, which is included with X_TRADER Pro, allows users to implement new strategies without complicated programming. Using its Excel-like commands and user interface, traders can leverage Autotrader to build and deploy custom strategies

That's not really what I was looking for - I want something with a programming language.

 

[Aston1st]

Actually for testing purposes I'd like to be able to do no volume!

It's academic anyway - this from XTrader website



That's not really what I was looking for - I want something with a programming language.

No pleasing some people eh.

Having TT is a very very attractive offering, and a great improvement. Any news on the Charting side?