Worldspreads suspends shares?

Re: Worldspreads are officially bust

Hi Rav,

Nice blog.

You should post this morning Citywire story on the subject as it contains some numbers. It looks like around half the client funds are 'missing'.


Steve.
 
WorldSpreads

Right then!

Can't believe there's not a single thread yet on WorldSpreads going into administration ... another MF Global style fiasco of missing client money.

Any inside skinny out there?

I dealt with them numerous times, and although was rather amazed at their modus operandi, found them actually quite straight forward. They would auto execute my index & fx orders at £25/point (roughly £300k) and until very recently would fill stop orders on the button with zero slippage.

I will be in the queue for the FSA compensation, and luckily am below their threshold to be made good, so that's a relief. In retrospect I really should have had a short position on their shares as an insurance policy ....
 
Re: WorldSpreads

its nice to know that when these things go under that there is protection of our capital
 
Re: WorldSpreads

Hi Everybody,
Worldspreadsheist

I am a client of ws and created this blog since last night..I am someone who has been a member with T2w for quite a long time am just trying to help people..
 
Re: Worldspreads are officially bust

Hi Rav,

Nice blog.

You should post this morning Citywire story on the subject as it contains some numbers. It looks like around half the client funds are 'missing'.


Steve.

Hi Steve,

I am a full time trader and I thank you for you support instead of comments which mean nothing at all.Sometimes its we as traders that need to support one another to ensure we dont let this industry take our years of hard work and effort away....

Thanks a lot
Rav
 
Re: Worldspreads are officially bust

KPMG say that they advice phone line will be open from 12 noon London Time.
 
Who would you guys recommend instead of WS? I have to say I never had a problem with their service or payments.
 
I am sorry guys that know me here for a long time, probably understand my sentiments...
I Learnt trading in this very forum 7 odd years ago now and went on to build a very succesful hedgefund..I am giving back something to my community.
Regards
Rav
 
I've merged all the worldspreads threads into this one - hope that doesn't cause too much confusion
 
I am sorry guys that know me here for a long time, probably understand my sentiments...
I Learnt trading in this very forum 7 odd years ago now and went on to build a very succesful hedgefund..I am giving back something to my community.
Regards
Rav

Nice one and good luck with your blog.(y)
 
Im a pro trader and been using two way and world spreads for year and a half.I never had complaints,thought they were good.

Im lucky to have under 50000.I think we are safe in this zone. I feel very sorry for clients over this level.
 
Hi Guys, I've been a WorldSpreads client for over two years and thought they were pretty good, although they are the first and only Spreadbetting company that I've used. Couldn't believe it when I heard this news on Friday night and it will be very annoying to have my money locked up for the next 6 months or so while I wait to get it back.

In the mean time, who would you suggest i move my business to? I've been looking around but I don't want to end up in this position ever again if I can help it...
 
Although the size of the loss is much less than M F Global, percentage wise it is actually worse: 45% of client funds lost at Worldspreads vs 28% of client funds lost at the U.S. side of M F Global.
 
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