You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
well i dont work for this company or anything im a trader just like you that thinks this is a good option and appreciate your comments.
They do offer a trial account so you can trade their platform before depositing funds i agree it would be foolish to open an account before testing this out. Speaking of their platform it offers level 1 and level2 data, charting and a squawk box all free. I've looked at other futures brokers particualrly IB and have found their platforms not to my liking. Not to mention a lot of brokers dont offer charting on their platforms, which i think is like selling a car without a steering wheel.
As for a minimum account of GBP5000 i think this is fair and i dont think i would like to trade futures with a company that didn't understand the potential risks involved and offer mini account or any such thing.
As for security issues their "gaming licence" is regulated by Gibraltar, i.e what give them as a company the right to offer a spreadbetting service.
However all funds are held in english banks and the parent company futuresbetting.com Ltd is "authorised and regulated by the Financial Services Commission (FSO98 Category 1 Authorisation No FSC00824B) so any illegal activity would be picked up by the FSA.
I'm no expert in the field of financial law but it would appear they registered in Gibraltar to assume a gaming licence (as many companies claim residence in Sweden etc for tax purposes), however all daily operations are fully regulated by the FSA
Skepticism is a great character trait but then there is always the chance of missing a good opportunity because of being over skeptical. But like i said before i am impressed with this company but if anyone thinks there is any genuine reason to believe things dont stack up then get posting i will gladly admit i was wrong, but as things stand i have no reason to believe they are anything but an organised setup.
Tom
They do offer a trial account so you can trade their platform before depositing funds i agree it would be foolish to open an account before testing this out. Speaking of their platform it offers level 1 and level2 data, charting and a squawk box all free. I've looked at other futures brokers particualrly IB and have found their platforms not to my liking. Not to mention a lot of brokers dont offer charting on their platforms, which i think is like selling a car without a steering wheel.
As for a minimum account of GBP5000 i think this is fair and i dont think i would like to trade futures with a company that didn't understand the potential risks involved and offer mini account or any such thing.
As for security issues their "gaming licence" is regulated by Gibraltar, i.e what give them as a company the right to offer a spreadbetting service.
However all funds are held in english banks and the parent company futuresbetting.com Ltd is "authorised and regulated by the Financial Services Commission (FSO98 Category 1 Authorisation No FSC00824B) so any illegal activity would be picked up by the FSA.
I'm no expert in the field of financial law but it would appear they registered in Gibraltar to assume a gaming licence (as many companies claim residence in Sweden etc for tax purposes), however all daily operations are fully regulated by the FSA
Skepticism is a great character trait but then there is always the chance of missing a good opportunity because of being over skeptical. But like i said before i am impressed with this company but if anyone thinks there is any genuine reason to believe things dont stack up then get posting i will gladly admit i was wrong, but as things stand i have no reason to believe they are anything but an organised setup.
Tom
No this is not correct.
They are not licenced by the FSA to hold clients money.
My take on this is that there is probably no protection afforded by the Investors Compensation Scheme.
Are you also sure that FuturesBetting.com Limited are owned by twowayfutures limited?
If I can get the correct answers from the regulators etc and give the trial platform a try I would have to say I'm tempted. An API would be great.
JonnyT
They are not licenced by the FSA to hold clients money.
My take on this is that there is probably no protection afforded by the Investors Compensation Scheme.
Are you also sure that FuturesBetting.com Limited are owned by twowayfutures limited?
If I can get the correct answers from the regulators etc and give the trial platform a try I would have to say I'm tempted. An API would be great.
JonnyT
tommog said:well i dont work for this company or anything im a trader just like you that thinks this is a good option and appreciate your comments.
They do offer a trial account so you can trade their platform before depositing funds i agree it would be foolish to open an account before testing this out. Speaking of their platform it offers level 1 and level2 data, charting and a squawk box all free. I've looked at other futures brokers particualrly IB and have found their platforms not to my liking. Not to mention a lot of brokers dont offer charting on their platforms, which i think is like selling a car without a steering wheel.
As for a minimum account of GBP5000 i think this is fair and i dont think i would like to trade futures with a company that didn't understand the potential risks involved and offer mini account or any such thing.
As for security issues their "gaming licence" is regulated by Gibraltar, i.e what give them as a company the right to offer a spreadbetting service.
However all funds are held in english banks and the parent company futuresbetting.com Ltd is "authorised and regulated by the Financial Services Commission (FSO98 Category 1 Authorisation No FSC00824B) so any illegal activity would be picked up by the FSA.
I'm no expert in the field of financial law but it would appear they registered in Gibraltar to assume a gaming licence (as many companies claim residence in Sweden etc for tax purposes), however all daily operations are fully regulated by the FSA
Skepticism is a great character trait but then there is always the chance of missing a good opportunity because of being over skeptical. But like i said before i am impressed with this company but if anyone thinks there is any genuine reason to believe things dont stack up then get posting i will gladly admit i was wrong, but as things stand i have no reason to believe they are anything but an organised setup.
Tom
I'm sure many will disagree... you can't bank on 5K to mitigate risks... as we all know it all depends upon the trader... it's very well possible to be annihilated with 5K / 10K or 50K accounts... so to justify 5K as a minimum is not really convincing for this reason...
Of course its twoway's decision to market and make their product attractive so that people could try it - and then the ones who really like it will stick with it thus automatically increasing the account sizes - as I've done with my current broker.
Karmit,
I understand your point that any account size can be blown and a 5k minimum deposit doesn't mean they are showing respect to the risk factor by having a high minimum.
However what it does do is distracts drawing the attention newbies that have never traded before opening accounts and blowing them, this is a good sign to me. If i was a broker just interested in getting peoples money i would have a very low minimum deposit just to get the suckers on board, they dont seem to have this approach which i see as a good thing
I understand your point that any account size can be blown and a 5k minimum deposit doesn't mean they are showing respect to the risk factor by having a high minimum.
However what it does do is distracts drawing the attention newbies that have never traded before opening accounts and blowing them, this is a good sign to me. If i was a broker just interested in getting peoples money i would have a very low minimum deposit just to get the suckers on board, they dont seem to have this approach which i see as a good thing
Their live chat thing is closed at the moment but i'll question them on the "Investors Compensation Scheme".
As for who is owned by who issue i have a copy of their terms and agreements in front of me now and twowayfutures is owned by Futuresbetting.com, all payments are made to them,
Tom
As for who is owned by who issue i have a copy of their terms and agreements in front of me now and twowayfutures is owned by Futuresbetting.com, all payments are made to them,
Tom
tommog said:Karmit,
I understand your point that any account size can be blown and a 5k minimum deposit doesn't mean they are showing respect to the risk factor by having a high minimum.
However what it does do is distracts drawing the attention newbies that have never traded before opening accounts and blowing them, this is a good sign to me. If i was a broker just interested in getting peoples money i would have a very low minimum deposit just to get the suckers on board, they dont seem to have this approach which i see as a good thing
depends upon the point of view I guess... I'll prefer a broker who doesn't patronise/handhold me by showing how much they care by keeping a high min. deposit ... at the end of the day its
the trader who's responsible and lets face it - brokers open shops to make money and traders
trade (at own risk) to make money - so no one is the wiser!
I'll prefer to go with broker who's regulated for keeping client money safe - by FSA only.
...since when it comes to tracking things down outside the country its a nightmare.. not that I'm suggesting something's wrong with twoway.. only that they haven't sufficiently convinced me at the moment... :|
JohnnyT
FuturesBetting DO offer an API. That makes 'em the first SB outfit to do so. It makes no difference to them - they just take your order, wrap it up with a spread and pass it to the market. I think there is some info about the API on their web site.
Rob
FuturesBetting DO offer an API. That makes 'em the first SB outfit to do so. It makes no difference to them - they just take your order, wrap it up with a spread and pass it to the market. I think there is some info about the API on their web site.
Rob
OK i emailed them regarding the Gibraltar issue and what protection this gives us and our money.
This is the reply i got:
We can't make that decision for you. I won't advise you, as you will appreciate that this would not be ethical.
The best place to look is:
http://www.fsc.gi/fsc/home.htm
The details of the compensation scheme etc. is all on there. The details of the fund are easily understood, but rather than give you direct advice, I'd prefer it if you read this and make your own mind up or take the advice of a lawyer or other financial advisor.
Your money is held in a segregated account with Barclays bank, so at no point do ourselves or our Gibraltar arm hold the money.
I hope this helps. Good luck in your trading.
I looked at the website and all seems in order, however if one of you kind chaps as more of an expert eye pehapes you could have a read through and see if there are any glaringingly obvious concerns anyone should have
Tom
This is the reply i got:
We can't make that decision for you. I won't advise you, as you will appreciate that this would not be ethical.
The best place to look is:
http://www.fsc.gi/fsc/home.htm
The details of the compensation scheme etc. is all on there. The details of the fund are easily understood, but rather than give you direct advice, I'd prefer it if you read this and make your own mind up or take the advice of a lawyer or other financial advisor.
Your money is held in a segregated account with Barclays bank, so at no point do ourselves or our Gibraltar arm hold the money.
I hope this helps. Good luck in your trading.
I looked at the website and all seems in order, however if one of you kind chaps as more of an expert eye pehapes you could have a read through and see if there are any glaringingly obvious concerns anyone should have
Tom
adrianbuthee
Junior member
- Messages
- 43
- Likes
- 1
Dear All
Plenty of questions to get my teeth into today I see.
1) As a newish company, we do not currently offer an API. However this is something we are looking to offer, but it all comes down to demand. I would be very interested to know how many of you out there would trade with us if we offered an API. I would require details of volume etc. Please PM me if you would like the privacy.
2) As mentioned earlier in this thread. I can confirm funds are held with Barclays in the Docklands and there they remain (Other than margin to the exchange obviously). Unlike many futures brokers, all funds are held in segregated accounts. This means that if the broker goes bust, they are not able to touch any of your money. There are obviously certain safeguards also in your funds being held in a UK Bank.
3) Neither do TwoWayFutures own Futurebetting.com nor vice versa. We are the sole UK agent of Futuresbetting.com.
4) TwoWayFutures is a trading name of TwoWayMarkets Ltd, a company authorised by the FSA. Correct, we are not authorised to hold client funds. We have no need to. Client funds are held with Futuresbetting.com.
5) Futurebetting.com is regulated by the FSC. As Tom mentioned in his message above, look at the website to see what all this means.
6) We only accept intermediate customers and a minimum balance of £5000. This is because you will basically trade the futures markets, which are intermediate products.
7) Regarding the compensation scheme, I think there is some confusion here, whether you are trading with an FSA regulated company or an FSC regulated company, if an intermediate client you have no access to a compensation scheme. All those saying they are trading futures and are party to one may be mis-informed.
I would like to make one point clear...accounts opened through TwoWayFutures will pay the same spread as going direct. By going through us, you have the advantage of speaking with an FSA regulated outfit and can by all means come and see us for a live demonstration of the trading platform in either London or Milton Keynes.
Kind regards
Adrian Buthee
TwoWayFutures
Plenty of questions to get my teeth into today I see.
1) As a newish company, we do not currently offer an API. However this is something we are looking to offer, but it all comes down to demand. I would be very interested to know how many of you out there would trade with us if we offered an API. I would require details of volume etc. Please PM me if you would like the privacy.
2) As mentioned earlier in this thread. I can confirm funds are held with Barclays in the Docklands and there they remain (Other than margin to the exchange obviously). Unlike many futures brokers, all funds are held in segregated accounts. This means that if the broker goes bust, they are not able to touch any of your money. There are obviously certain safeguards also in your funds being held in a UK Bank.
3) Neither do TwoWayFutures own Futurebetting.com nor vice versa. We are the sole UK agent of Futuresbetting.com.
4) TwoWayFutures is a trading name of TwoWayMarkets Ltd, a company authorised by the FSA. Correct, we are not authorised to hold client funds. We have no need to. Client funds are held with Futuresbetting.com.
5) Futurebetting.com is regulated by the FSC. As Tom mentioned in his message above, look at the website to see what all this means.
6) We only accept intermediate customers and a minimum balance of £5000. This is because you will basically trade the futures markets, which are intermediate products.
7) Regarding the compensation scheme, I think there is some confusion here, whether you are trading with an FSA regulated company or an FSC regulated company, if an intermediate client you have no access to a compensation scheme. All those saying they are trading futures and are party to one may be mis-informed.
I would like to make one point clear...accounts opened through TwoWayFutures will pay the same spread as going direct. By going through us, you have the advantage of speaking with an FSA regulated outfit and can by all means come and see us for a live demonstration of the trading platform in either London or Milton Keynes.
Kind regards
Adrian Buthee
TwoWayFutures
Thanks Adrian,
One of the brokers from Futurebetting called me yesterday and i asked him several legal questions about the Gibrlatar license and it is quite safe, if anything more secure than UK license. Under the Gibraltar license the company can't get it hands on one penny of your funds and he used the word "guarantee" several times to emphasise they cant touch your funds and they are totally safe.
They set me up on a trial of their platform and it is a futures platform, not by any means a "spreadbetting" platform, it has a price ladder with order volumes straight from the exchange, can bid at the offer, the spreads are futures spreads, so far i am happy
Tom
One of the brokers from Futurebetting called me yesterday and i asked him several legal questions about the Gibrlatar license and it is quite safe, if anything more secure than UK license. Under the Gibraltar license the company can't get it hands on one penny of your funds and he used the word "guarantee" several times to emphasise they cant touch your funds and they are totally safe.
They set me up on a trial of their platform and it is a futures platform, not by any means a "spreadbetting" platform, it has a price ladder with order volumes straight from the exchange, can bid at the offer, the spreads are futures spreads, so far i am happy
Tom
Adrian
In an earlier message I said that FuturesBetting do offer an API. I have it on good authority that their software platform is ffastfill and this does offer an API (see ffastfill.com). Admittedly there is no mention of this on the FuturesBetting website. As all your business goes through FuturesBetting then it means that you do (indirectly) offer an API. I wonder if you could clarify this matter?
Many thanks
Rob
In an earlier message I said that FuturesBetting do offer an API. I have it on good authority that their software platform is ffastfill and this does offer an API (see ffastfill.com). Admittedly there is no mention of this on the FuturesBetting website. As all your business goes through FuturesBetting then it means that you do (indirectly) offer an API. I wonder if you could clarify this matter?
Many thanks
Rob
adrianbuthee
Junior member
- Messages
- 43
- Likes
- 1
Hi Rob
Yes you are correct, we do offer ffastfill as the trading platform and ffastfill does offer API facilities. However, ffastfill charge a considerable sum to allow access to this, which is the reason we are not yet offering it.
This then leads on to my question about knowing who out there wants this API and what level of business would they execute. It is a simple commercial decision, but we need to know these numbers first.
Kind regards
Adrian Buthee
TwoWayFutures
Yes you are correct, we do offer ffastfill as the trading platform and ffastfill does offer API facilities. However, ffastfill charge a considerable sum to allow access to this, which is the reason we are not yet offering it.
This then leads on to my question about knowing who out there wants this API and what level of business would they execute. It is a simple commercial decision, but we need to know these numbers first.
Kind regards
Adrian Buthee
TwoWayFutures
These guys were mentioned in a thread yesterday, but I can't find it now - so thats why I'm opening this old thread.
I went to their website to open an account.
Unfortunately unlike all other sites you have to print off the form and send it to them.
For me that was too much trouble - any others the same?
We have a firewall at work and I'm doubtful their trading system will work over it (IG,Finspreads doesn't, Binexx and Citiindex do???) - so I wasn't going to go through the trouble to find out I couldn't trade anyway.
They also wanted passport copy and utility bill, certainly havn't done this before either, but do understand that the money laundering rules have been tightened - but opened with Finspreads 2-months ago with no restriction.
Also, do they accept money by switch/solo e.t.c or will It need a cheque book and mail ?
I went to their website to open an account.
Unfortunately unlike all other sites you have to print off the form and send it to them.
For me that was too much trouble - any others the same?
We have a firewall at work and I'm doubtful their trading system will work over it (IG,Finspreads doesn't, Binexx and Citiindex do???) - so I wasn't going to go through the trouble to find out I couldn't trade anyway.
They also wanted passport copy and utility bill, certainly havn't done this before either, but do understand that the money laundering rules have been tightened - but opened with Finspreads 2-months ago with no restriction.
Also, do they accept money by switch/solo e.t.c or will It need a cheque book and mail ?
adrianbuthee
Junior member
- Messages
- 43
- Likes
- 1
Hi Apples10
Further to your registration, we will be sending account papers in the post, together with a prepaid envelope. We do not have an online application process. Your account will be opened the same day we receive your paperwork.
We do need to satisfy anti-moneylaundering regulations, which is why we need an original utility bill and certified passport copy.
We accept money by bank transfer, and not by switch card. You can send money by BACS or CHAPS, it is really down to you.
Our trading platform does work through a firewall.
You may need to cross a few more Ts and dot a few more Is, but I think it is a small price to pay for the amazing spreads on offer. You won't find faster execution or tighter spreads in spreadbetting.
Kind regards
Adrian Buthee
TwoWayFutures
Further to your registration, we will be sending account papers in the post, together with a prepaid envelope. We do not have an online application process. Your account will be opened the same day we receive your paperwork.
We do need to satisfy anti-moneylaundering regulations, which is why we need an original utility bill and certified passport copy.
We accept money by bank transfer, and not by switch card. You can send money by BACS or CHAPS, it is really down to you.
Our trading platform does work through a firewall.
You may need to cross a few more Ts and dot a few more Is, but I think it is a small price to pay for the amazing spreads on offer. You won't find faster execution or tighter spreads in spreadbetting.
Kind regards
Adrian Buthee
TwoWayFutures
adrianbuthee said:Hi Apples10
Further to your registration, we will be sending account papers in the post, together with a prepaid envelope. We do not have an online application process. Your account will be opened the same day we receive your paperwork.
We do need to satisfy anti-moneylaundering regulations, which is why we need an original utility bill and certified passport copy.
We accept money by bank transfer, and not by switch card. You can send money by BACS or CHAPS, it is really down to you.
Our trading platform does work through a firewall.
You may need to cross a few more Ts and dot a few more Is, but I think it is a small price to pay for the amazing spreads on offer. You won't find faster execution or tighter spreads in spreadbetting.
Kind regards
Adrian Buthee
TwoWayFutures
Thanks Adrain, and for the phone call.
I'll do the paperwork when received but I'm away skiing anyway over New Year. :cheesy:
Will have to check platform works though before sending over any dosh.
The inability to register on-line must be costing you clients? Not everyone is a tightfisted Northerner like me who agrees that dealing on the mkt spread is worth the hassle.
rgds
adrianbuthee
Junior member
- Messages
- 43
- Likes
- 1
Hi Johnny T
Yes, the money is safe. It is held at Barclays Bank in the UK and in fully segregated accounts.
Kind regards
Adrian Buthee
TwoWayFutures
Yes, the money is safe. It is held at Barclays Bank in the UK and in fully segregated accounts.
Kind regards
Adrian Buthee
TwoWayFutures
