Spreadbetting Indices

[brendansvest]

Thanks for the reply Glide

I am actually enquiring from the other side of the fence.

We are launching a rebate system for all clients using or execution platform for SB indices and FX.

The ad has launched on T2W today.

We will rebate part of the spread for indices and rebate a set amount per million on FX. I'm really trying to find out if this will be popular by asking what the traders on here like and dislike about the service they are getting.

 

[Splitlink]

How can an ongoing rebate be a gimmick? As I am sure you will apprecaiate we are a broker providing access to a SB platform from a major provider. We do not control the spread therefore we provide a rebate to add value to the account. In respect of customer service I am confident you will not find better. Any queries are directed to traders and brokers, not call centre staff and salesman as this is the case with other brokers. Have you seen the FX Rebate we are offering?

If you were sure of the scheme you would not be asking us about it. From my point of view, I'm looking for a full point more or less on a spread, not 10% of a point. In fact, even in my hardest times, when I was looking at everything to make a profit, I did not take that amount into my reason for changing to another SB.

For your information, I went to Fins because,
a. They were one of the first online.
b. They let me trade for 50p per point.

That was many years ago. I'm still there so I guess I'm satisfied with the service, too.

I think that you will have to do something else, if not low stakes for starters, then a sum of money for new guys to start trading with. Fins does that, even now. Do you'? Big attraction for new accounts, I should imagine.

 

[brendansvest]

I am sure of the scheme but opinions are important to me as we tweak the system as we go along.I would respectfully suggest that you have the wrong end of the stick. You cannot take a profit of 10%of a point, that is the rebate level. You can trade from £1 per point and there is no minimum account size so smaller traders are catered for.

Futures traders look forward to their volume rebates, why shouldn't spreadbetters and CFD traders?

 

[Splitlink]

I do know that but, whatever you say, it boils down to the fact that 10 points spent in 5 trades will result in a payback of 1 point at the end of the month.

The stakes are too high for that to influence most people. As I said, I pay 2 points and, because I am satisfied with the service, am unwilling to go elsewhere, even though the spread may be down to one point.

Anyway, good luck to you (provided you give good service to the client )

Splitlink

 

[brendansvest]

Thanks, good luck to you too.

 

[tan5ki]

How can an ongoing rebate be a gimmick? As I am sure you will apprecaiate we are a broker providing access to a SB platform from a major provider. We do not control the spread therefore we provide a rebate to add value to the account. In respect of customer service I am confident you will not find better. Any queries are directed to traders and brokers, not call centre staff and salesman as this is the case with other brokers. Have you seen the FX Rebate we are offering?

I do like the idea of a "bonus" at the end of the month. Who are you executing your SB business through? If Im understanding this correctly, your White Labelling someone's platform and splitting the rebate you earn with the end client? That means that if you use IG, for example, Im already a fairly happy client of theirs but I may as well close the account and open a new one through you, right??

 

[brendansvest]

You have that exactly right. We white label the platform and split our end with the client. We do deal with IG but the rebate deal is only available through the CMC platform.

If you need more info give me a call on 0207 613 8380

Thanks

 

[Jack Hughes]

All seems a bit baffling, to me. Why can't your computer just automatically adjust the outcome of each trade by 10% of a pip/pt, or whatever, which would make a tiny difference, anyway? Narrowing the spreads would be much more tempting and have a significant effect on the chance of making a profit.

 

[brendansvest]

it's easier, and we believe, more beneficial to the customer to receive a bulk rebate at the end of each trading month. Win or lose the client receives a payment. It is a system that has worked succesfully for years in the futures markets and it will be successful in the spreadbetting, CFD and FX arena. Regardless of where the saving is applied it is still a saving and the client benefits.