prospreads.com

[gedward3]

Just wondering what you would like for free, Bloomberg ??
At least they will be actual market data, not there own levels like other spread betters.

Not really ya pr1ck. Im not slagging them off i was just making reference as they
are part of the LCG so they are gonna more than likely provide what they do on
other platforms they own.

Get back to throwing your sheep and goats from the bell towers.

 

[Vaco]

it finance charts are decent enough anyway, I used to use them with cmc before they cmc decided to do their charting in house. funny i closed my account soon after.

 

[Jack Hughes]

At least they will be actual market data, not there own levels like other spread betters.

How do you know that? In most respects, Prospreads is like the other SBs now, it seems.

 

[A Dashing Blade]

How do you know that? In most respects, Prospreads is like the other SBs now, it seems.

Their prices (for futures at least) are exactly the same as on the relevent exchange. (I've personally benchmarked against Reuters, Bloomberg and eSignal all with live Eurex feeds for Bund and Stoxx)

 

[magten]

We will be announcing the charts over the next few days, also the site is being updated.

Terrific :clap:

 

[bsmart21]

Xeno

Yes, so am I, im still waiting for a formal reply. Verbally they say the market could have gapped. My contention was that I was 15 points from my stop and within margin, if the stop was uncomfortable for them whey did their system allow it to be made? If the trade had been left alone I would be in slight profit for the trade. They need to increase the margin or ammend their system so you cannot place a trade unless it is within the Prospreads paramaters, otherwise they can pull your trade at their discretion.

Its a really stupid amount of money £350, its the principle of what they did and the way it has been handled from a customer service perspective all this with total lack of communication. Remember im still waiting on a reply to my complaint, apart from the posts in this forum I have nothing in writing from Prospreads. When they were trying to get my business they were never of the phone and would send me lots of emails.

Having returned from overseas business I thought that I should post an update;

I have had correspondence with Simon Brown the MD of Prospreads, (the delay was down to me - being out of the country). The matter has been resolved to my satisfaction to the point that I will have no issue returning to using their Platform, Im pleased as it is the best platform offered by any SB company (IMHO), they also have the most transparent system - one that directly reflects the underlying price and the most friendly Dealers that I have come across. I will not say what was agreed as a fair "Gesture" but I am satisfied that it is fair in the circumstances.

Im always quick to post for the benefit of others when things dont work, so its only correct that I post when things are sorted out. Thanks Prospreads - and Simon for your personal involvement. T2W Users please be assured that if you have any issue I am sure that it will handled professionally by Simon and his team.

 

[chris1976]

hmmm,just read the whole thread how come it suddenly stops,lol?

thinking of giving them a go,hows the charting package then?i see its IT finance with volume indicator??

can someone also clarify what the spread actually is on ftse,dax and dow? 1,1 and 2?

would be interesting to see this thread resumed

thanks

 

[gedward3]

hmmm,just read the whole thread how come it suddenly stops,lol?

thinking of giving them a go,hows the charting package then?i see its IT finance with volume indicator??

can someone also clarify what the spread actually is on ftse,dax and dow? 1,1 and 2?

would be interesting to see this thread resumed

thanks

Because they got bought out by LCG they are not DMA any more but
just a normal SB Co whereby you trade the full contract.

A good company following the SB formula.
GED

 

[Jack Hughes]

Because they got bought out by LCG they are not DMA any more but
just a normal SB Co whereby you trade the full contract.

A good company following the SB formula.
GED

Was it ever established that Futuresbetting was DMA and ProSpreads isn't?

 

[Vaco]

I believe that the confusion lies with the forex arm of their operation, everything else is still dma as far as i'm aware.

 

[gedward3]

I believe that the confusion lies with the forex arm of their operation, everything else is still dma as far as i'm aware.

Vaco,

If you look on the website it says something about deriving
their price from the underlying Market thereby losing the
DMA aspect of the operation.Will find it later when I'm back
home.

GED

 

[gle101]

Vaco,

If you look on the website it says something about deriving
their price from the underlying Market thereby losing the
DMA aspect of the operation.Will find it later when I'm back
home.

GED

They have a wrapper around the real future spread as I understand it. This in order to be categorized as a SB operation.

 

[ProSpreads]

Dear All,

Prospreads does offer DMA functionality. It does this by showing the user the prices at which it is able to hedge its client’s spread bets in the underlying markets via its DMA platform. ProSpreads then offers that same functionality to the user. So for example, if a ProSpreads user executed a FTSE 100 Index Bet, he will be trading at the same price, with the same functionality as if he was accessing the underlying market himself (DMA); and a spread is added directly to that price to reflect that the user has executed a spread bet as opposed to a normal trade on the underlying product. This DMA functionality has existed since ProSpreads, previously FuturesBetting.com, was launched in 2005.

Furthermore, we would like to point out that any DMA trading done through a broker will be done in a similar fashion. It will not be the actual client who is entering the underlying market, it will be the broker entering the market on behalf of the client and then charging the client a commission for this.

Kind regards,

Dan

Sales Trader

ProSpreads

 

[gle101]

Dear All,

Prospreads does offer DMA functionality. It does this by showing the user the prices at which it is able to hedge its client’s spread bets in the underlying markets via its DMA platform. ProSpreads then offers that same functionality to the user. So for example, if a ProSpreads user executed a FTSE 100 Index Bet, he will be trading at the same price, with the same functionality as if he was accessing the underlying market himself (DMA); and a spread is added directly to that price to reflect that the user has executed a spread bet as opposed to a normal trade on the underlying product. This DMA functionality has existed since ProSpreads, previously FuturesBetting.com, was launched in 2005.

Furthermore, we would like to point out that any DMA trading done through a broker will be done in a similar fashion. It will not be the actual client who is entering the underlying market, it will be the broker entering the market on behalf of the client and then charging the client a commission for this.

Kind regards,

Dan

Sales Trader

ProSpreads

Yes, exactly as I understood it.

 

[pboyles]

Dear All,

Prospreads does offer DMA functionality. It does this by showing the user the prices at which it is able to hedge its client’s spread bets in the underlying markets via its DMA platform. ProSpreads then offers that same functionality to the user. So for example, if a ProSpreads user executed a FTSE 100 Index Bet, he will be trading at the same price, with the same functionality as if he was accessing the underlying market himself (DMA); and a spread is added directly to that price to reflect that the user has executed a spread bet as opposed to a normal trade on the underlying product. This DMA functionality has existed since ProSpreads, previously FuturesBetting.com, was launched in 2005.

Furthermore, we would like to point out that any DMA trading done through a broker will be done in a similar fashion. It will not be the actual client who is entering the underlying market, it will be the broker entering the market on behalf of the client and then charging the client a commission for this.

Kind regards,

Dan

Sales Trader

ProSpreads

Thats not DMA really is it, its just spreadbetting. For instance if a client wishes to sell the mini S&P at £5 a point how is a dealer going to do that in the real market where it trades at $12.50 a tick?

 

[Jack Hughes]

Dear All,

Prospreads does offer DMA functionality. It does this by showing the user the prices at which it is able to hedge its client’s spread bets in the underlying markets via its DMA platform. ProSpreads then offers that same functionality to the user. So for example, if a ProSpreads user executed a FTSE 100 Index Bet, he will be trading at the same price, with the same functionality as if he was accessing the underlying market himself (DMA); and a spread is added directly to that price to reflect that the user has executed a spread bet as opposed to a normal trade on the underlying product. This DMA functionality has existed since ProSpreads, previously FuturesBetting.com, was launched in 2005.

Furthermore, we would like to point out that any DMA trading done through a broker will be done in a similar fashion. It will not be the actual client who is entering the underlying market, it will be the broker entering the market on behalf of the client and then charging the client a commission for this.

Kind regards,

Dan

Sales Trader

ProSpreads

Futuresbetting used to claim that all trades were automatically hedged, I think, which isn't the same as 'is able to hedge'. Apart from having wider spreads, Prospreads seems to be the same as any other provider now.

 

[chris1976]

So are the charts IT finance but with volume? and can you get a volume indicator on indicies and forex?

 

[PualoP]

Thats not DMA really is it, its just spreadbetting. For instance if a client wishes to sell the mini S&P at £5 a point how is a dealer going to do that in the real market where it trades at $12.50 a tick?

Ha ha, if you can't understand it then that's a big clue that you're not really qualified to use DMA yet

 

[pboyles]

Ha ha, if you can't understand it then that's a big clue that you're not really qualified to use DMA yet

OK so explain how you could trade in the real market at £5 a point on the ES?

 

[A Dashing Blade]

Thats not DMA really is it, its just spreadbetting. For instance if a client wishes to sell the mini S&P at £5 a point how is a dealer going to do that in the real market where it trades at $12.50 a tick?

You can't do that with ProSpreads, you have to trade units of the same size and currency as the underlying future ($12.50/tick in your example).
Clearly ProSpreads are not really ofter the nickle & dime end of the spreadbetting market but really positioning themselves as an alternative to a futures broker.