Worldspreads suspends shares?

[fletchie]

You'd think that the unexpected sustained rally this year would have been good for business, so maybe it's their past catching up with them. No doubt another SB will buy out all WS's clients (if they have any left).

I have checked on the FSA website and WS have been registered and authorised by the FSA since 2004.

The FCSC also states that client deposits are 100% guaranteed up to £85k

The deposit is considered a retail deposit and therefore protected.

The money should have been in a segregated account. Even so the FSA and FSCS should compensate to their published standards. It may just be a long process if it gets that far, ( MF Global) .

Anyone understand any more on this?

 

[lttrader]

With Worldspreads going bust will thier clients get their money back? I trade with Easy-Forex for my gold and forex, segragated accounts, international licences. Realistic charges! Very happy with their service.....is this what happened with mf global?? "irregular trading patterns" something to do with their 0 spreads and managed accounts me thinks...? check this link, no further news:

WorldSpreads Shares Suspended on

 

[PualoP]

With Worldspreads going bust will thier clients get their money back? I trade with Easy-Forex for my gold and forex, segragated accounts, international licences. Realistic charges! Very happy with their service.....is this what happened with mf global?? "irregular trading patterns" something to do with their 0 spreads and managed accounts me thinks...? check this link, no further news:

WorldSpreads Shares Suspended on

Easy Forex? Registered in Guernsey and regulated by no body ha ha!! Even in their current **** hole state, I'd rather have money on account with World Spreads than that off shore scam bucket shop lol

 

[Mornington Crescent]

this thread is like sky news

why let facts get in the way

 

[lttrader]

Easy Forex? Registered in Guernsey and regulated by no body ha ha!! Even in their current **** hole state, I'd rather have money on account with World Spreads than that off shore scam bucket shop lol

hi pualo

i am new to trading and went to a few conventions and they were the only ones offering free 1-1 training, fixed spreads, regulated by cysec (like windsor brokers, although i do not know how secure they are) also alpari are regulated by cysec too.

in any case, i deposited a small amount and got treated as if i had deposited 10's of thousands.

i have also made a decent profit, not a huge amount but i am getting there slowly.

at least they are still running, i guess thats a good sign, since mf global are down and POSSIBLY worldspreads too...

 

[CHRISTO9HER]

Just got off the phone with my platinum contact at WS......doesn't look great right now

No reason to think the FSA deposit insurance won't stand, but could be a long and drawn out process.

Had to decide whether to close my open positions....thought it was taking the **** to try to make money out of them at this point, so closed them all, even my darling short US Treasury position!!

 

[The Leopard]

I have a VERY good contact there who has told me what's really going on. The truth might surprise you - I was pretty shocked when he told me.

Anyway, if anyone is really interested, just ask me and I'll spill the beans.

 

[Ross Spur]

Just got off the phone with my platinum contact at WS......doesn't look great right now

No reason to think the FSA deposit insurance won't stand, but could be a long and drawn out process.

Had to decide whether to close my open positions....thought it was taking the **** to try to make money out of them at this point, so closed them all, even my darling short US Treasury position!!

Have they actually gone bust, or is it a temporary difficulty?

 

[Ross Spur]

I have a VERY good contact there who has told me what's really going on. The truth might surprise you - I was pretty shocked when he told me.

Anyway, if anyone is really interested, just ask me and I'll spill the beans.

Spill 'em, please. Just put 'allegedly' in front of everything and no-one will be sued

 

[lttrader]

I have a VERY good contact there who has told me what's really going on. The truth might surprise you - I was pretty shocked when he told me.

Anyway, if anyone is really interested, just ask me and I'll spill the beans.

i am super interested!! please tell us mr leopard...

 

[The Leopard]

Spill 'em, please. Just put 'allegedly' in front of everything and no-one will be sued

No need for that. This is the truth, plain and simple.

You've seen reference to "unusual trading activity"? You've no idea HOW unusual.

What happened is, a client opened a EUR/USD trade for £2 a pip I think it was. Anyway, by some miracle (they still don't know how it happened) the client won his bet. I think he took about 10 pips.

When this came to light, the company basically went into meltdown. My contact says it has never happened before, and they are in utter shock. They simply don't have a clue what to do.

They never thought the day would come when a Worldspreads client would win a bet - especially one larger than a pound. They just can't process it, it's as though the certainties of a lifetime no longer apply. Imagine how you'd feel if one day the sun didn't rise in the East - that's what it's like over there at the moment.

 

[lttrader]

No need for that. This is the truth, plain and simple.

You've seen reference to "unusual trading activity"? You've no idea HOW unusual.

What happened is, a client opened a EUR/USD trade for £2 a pip I think it was. Anyway, by some miracle (they still don't know how it happened) the client won his bet. I think he took about 10 pips.

When this came to light, the company basically went into meltdown. My contact says it has never happened before, and they are in utter shock. They simply don't have a clue what to do.

They never thought the day would come when a Worldspreads client would win a bet - especially one larger than a pound. They just can't process it, it's as though the certainties of a lifetime no longer apply. Imagine how you'd feel if one day the sun didn't rise in the East - that's what it's like over there at the moment.

i am not the sharpest tool in the box.....but that doesnt sound right....are you pulling the leg...? me thinks so....anyone else know what may have happened?

 

[pboyles]

No need for that. This is the truth, plain and simple.

You've seen reference to "unusual trading activity"? You've no idea HOW unusual.

What happened is, a client opened a EUR/USD trade for £2 a pip I think it was. Anyway, by some miracle (they still don't know how it happened) the client won his bet. I think he took about 10 pips.

When this came to light, the company basically went into meltdown. My contact says it has never happened before, and they are in utter shock. They simply don't have a clue what to do.

They never thought the day would come when a Worldspreads client would win a bet - especially one larger than a pound. They just can't process it, it's as though the certainties of a lifetime no longer apply. Imagine how you'd feel if one day the sun didn't rise in the East - that's what it's like over there at the moment.

Maybe their slippage machine broke, or indeed their 'unprecedented recent volatility' platform freezing machine. That would also do it.

 

[Liquid validity]

 

[aj11]

They have managed accounts... They were obviously using clients money to trade with and have just found out that they have lost more than clients have invested... :clap:
Congratulations Worldspreads. Welcome to the World of the Financial Graveyard

 

[pboyles]

They have managed accounts... They were obviously using clients money to trade with and have just found out that they have lost more than clients have invested... :clap:
Congratulations Worldspreads. Welcome to the World of the Financial Graveyard

Well if that's the case you'd better not have deposited more than the upper compensation limit.

 

[The Leopard]

i am not the sharpest tool in the box.....but that doesnt sound right....are you pulling the leg...? me thinks so....anyone else know what may have happened?

The point is Worldspreads is notorious, and nobody should have been using them. The clues were there, before anyone starts.

Zero spreads on their most popular instruments? How then are they making any money, and what are you doing to them if you win?

 

[pboyles]

The point is Worldspreads is notorious, and nobody should have been using them. The clues were there, before anyone starts.

Zero spreads on their most popular instruments? How then are they making any money, and what are you doing to them if you win?

Any Egyptians seen in the area at the time?

 

[lttrader]

The point is Worldspreads is notorious, and nobody should have been using them. The clues were there, before anyone starts.

Zero spreads on their most popular instruments? How then are they making any money, and what are you doing to them if you win?

i knew their 0 spreads was dodgy....but i thought they had some super efficient ultimate secret hedging strategy....

notorious? i thought from a regulatory point they would be ok and have enough intelectual power behind them to do well, they have been around for what....4 ish years now...and they only recently started the 0 spreads thing didnt they...?

either way sod them...!!

 

[The Leopard]

Any Egyptians seen in the area at the time?

What a ridiculous thing to say! To the best of my knowledge, no Egyptian has ever been suspected of any wrong doing, especially with anything related to trading!

Quite the opposite in fact - Egypt has produced many great champion traders.