Captital Spreads
So if Comex Feb gold is trading at 855.2 at a given moment, and you happened to have a stop at 854.3, and Comex NEVER got that low, but Capital Spreads moved their bid price down to EXACTLY 854.3 for ONE second, taking out your stop before moving back to the actual level of Feb gold, this would be " just "bad luck" or "poor trading"?
These guys at Capital spreads are worse than crooked, they are blatant and shameless. And if you are of the opinion that being married to a Yank whose brother happens to work for the FBI means I am in "cukooland", I can only smile. As it happens, apparently there IS going to be a US case made against Capital Spreads. Stealing is actually illegal in the US. In the Ripoff Britain culture, in which customers are thought of as mugs, Simon is probably only doing what comes naturally, and what he sees as his right: stealing client funds. But his mistake was fronting for Etrade, which placed him in US jurisdiction.
Anyone with actuarial knowledge would understand that the odds of a market moving 20 or 30 points EXACTLY to your stop, and then reversing are fairly small. If it happens time and time again, IT IS NOT A COINCIDENCE. You don't have to have an advanced degree in statistics to understand this concept. If I leave you in my house and come home and find the silverware missing, the fact that I didn't see you steal it doesn't mean that you aren't the most likely candidate.
Capital Spread steal in the most blatant and obvious way, and the story that they can't possibly move the prices to hit stops because they subscribe to a feed is inherently preposterous. Another company which uses exactly the same line feed will OFTEN have different prices showing, minute-by-minute, obviating any possible claim that Capital Spreads have nothing to do with the prices you see on your screen in that they are "outsourced".
I am up WELL into six figures this year with my norma. futures account. I win more often than I lose. I have merely found that Capital Spreads, uniquely, are a rotten apple. If you choose not to believe this, and wish to keep throwing money down the toilet as Capital Spreads loots your account through stop manipulation, that is your choice. But ANY competing company would be a better bet. This in a fundamental truth.
By the way, if any employee of Capital Spreads, other than the infamous simon, of course, happens to be reading this, I can offer you a £10,000 reward if you would like to provide (anonymous) testimony against Capital Spreads, if you are prepared to provide evidence to the authorities. You would not be prosecuted, I can assure you. You can email me at
[email protected].
Is your second line of work a comedian ??
I have had disagreements with CS in the past mainly on slow execution and trades not showing in the open positions for about 30 seconds after they have been opened. However, this does seem to have improved.
Look at what you're saying logically. If they specifically skewed a price against you (galtone) wouldn't they give advantage to those on the other side of the book.
EG... you are long so they skew the price 2 or 3 points down to take out your stop they are then giving all the people who are short a free 2 or 3 points.
Now, I'm not sure if I'm correct in saying this. However, if you're a bigger player £100+ per point they I imagine they would have you hedged anyways.
I can't imagine CS skewing a price just to take someone out of a £3 a point spread bet. I'm not saying this because of Simon's Moral's. I don't know him to comment on that. However, it just doesn't really make much sense to me that they're dealer see's your position and skews a price to take you out.
I will say I sometimes see the price will be a few ticks over/under the market high/low but I see this with most other SB firms too.
As for the FBI mate, I think you're in cuckoo land.
