This discussion is becoming more and more pathetic, please compare it to the IB thread. We have a kindergarten here, nothing professional at all. A lot of blah blah blah, time to deliver some facts, time to get to higher levels (elementary school?) We should talk from now on only about the WS platform, what technology do you have? What software, what hardware are you using? Do you need money to get to higher levels, I'm sure that you would have no problem to get a decent business loan to improve your service. If CS has a good platform and you the 1 pt spread, why don't you merge? What would be the outcome? Another monkey business? WS needs really some professionals, those with big balls from the massachusetts institute of technology. A new 21st century technology is what you need and people that know how to use it. There are many solutions to the WS business, find the right one before the sun goes down.
fxmarkets
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MarvinS said:
what about those clients who you referred to phones or knocked back to a quid ? were they losing money and you felt like doing them a favour or something ?
"Profiting from falling markets is not reserved to institutional fund managers or hedge funds anymore. Individuals who have an account with WorldSpreads can now also benefit from the possibility to short financial instruments, therefore maximising profits in volatile markets."
hang on ,let me read this again ,if i get an account with worldspreads i can maximise profit long or short in volatile markets....... Great........ but the reality of the situation is the opposite isnt it? because you then say
"Most of the pricing issues occur in fast moving markets."
whats going on? I'd say its still very reserved to the point of that trading practice is not allowed to happen at worldspreads, which is fine only you advertise if we become worldspreads clients we can maximise profits by use of volatility in the markets.
Im pressing the issue still as you have also stated you welcome scalpers nicking a few points etc, so i read it to mean clients are welcome to
exploit volatile markets and scalp a few tics. great..... only feedback from clients warrants further discussion and clarity of suitability brought about by their experience in trying to do just that.....by choosing worldspreads as their service provider ... hence this thread.
There is a nice promise on WS homepage that says: "Have peace of mind in dealing with finance professionals. WorldSpreads, bringing the markets to you." It looks like an epitaph, are we still on earth? Promise what you can deliver now, this is good customer service, if you can deliver something better tomorrow, then we shall see if there is something more poetic in Shakespeare, "to be or not be, that is the question".
fxmarkets
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agree swissy and marvin saying he doesnt mind being bumped 2 tics or being referred is a joke when you want to maximise probability of trade success. Maybe thats why they find it acceptable to push the ok ness of that forward.. to comfort "brand new customers only" they got some trading brains in their outfit according to their blog, experince international trader risk analyst and the such doubt if he would want to be bumped and referred to phones and be left wondering about fills and price reality...... talk about assuming risks that shouldnt be chisled on your jotter over and over....
fxmarkets is an absolute waste of time! I think he should be banned from this site. His attempt to lower the tone of the debate has made this thread an absolute debarcle. Please ban him from this thread or site as has been suggested by a number of clients that i have talked too. I have worked in this industry for over 6 years and i have no interest in writing any further comments, if so called traders like fxmarkets who admited he did not even spread bet continues, i will have no choice but to start my own sensible WS thread, for WS traders that have genuine points.
Regards
MarvinS
Regards
MarvinS
MarvinS said:
On the contrary Marvin, I happen to agree with the points that fx makes. If you want to tout your product on here you have to take the rough with the smooth.
6 years is but a piddle in the puddle in terms of time spent in the markets Marvin, you must be careful you dont throw the baby out with the bath water, or your toys out of the cot.
His points are valid, particularly those concerning execution, terms of execution, and reliability of execution, you have largely failed to answer them but have tried diversionary tactics and 'humour' to divert attention from this fact.
I trade from home (DA and the odd back to back of a spread better into the market!) as I mentioned earlier in this thread - I see ads on TV all day for consolidation of debts/borrow more money etc - this is your real target audience Marv, because anyone with any knowledge of the market would not rely on spread betting companies for their sole access.
My advice to anyone starting in trading is this - by all means start with an s/b - deposit £100 or £500 or some such nominal amount/trade the minimum stake in your chosen markets, and leave either when yr strategies are proven or your money is gone. Do not take credit facilities from these companies to trade with, and always ask for interest on your deposit.
For anyone not starting - go DA.
fxmarkets
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MarvinS said:
Lower the tone Marvin ? Ive been getting more ratings than the pamela anderson and tommy lee jones video that hit the web years back from asking you direct questions regarding client treatment and services being provided from worldspreads and its suitability many of those questions still go un answered and you ask me to accumulate those unanswered questions for you ? I'm sorry but if you cant be bothered to , why should I on your behalf ? thats your job I would of thought not mine.
And I thought you was tired of the industry and on a quest to promote openess and transparency and you even mentioned that you thought it better if you didnt patronise traders as much. I admire and welcome the sentiment, the thought is the initial kindle of hope for better change but it requires follow through I'd say. This thread is where that transformation of an idea of positive change can happen, but you have to believe in it.
And its just not me raising an eyebrow is it read this below as a reminder... from a professional at CS taken from the CS thread..
I'm open to discuss your services openly as always And sorry to hear you view it all as a waste of time.
I might of become a worldspreads client on 1 pip and instant fills but the level of service to me reading the experiences of other worldspread clients seems not even worth assuming that risk even if you paid me 5 pips head start on each trade. execution quickly is vital.
regards.
Fx.
Sorry Marvin
if it is permanent then fine I was just reporting on a conversation I had when calling your dealers as a prospective client where I was told that the offer was only available for a limited time.
If you are able to offer it as a permanent spread then all credit to you. As you cannot possibly hedge within those spreads you must therefore hope to God that your clients lose money! If the management is forced to widen the spreads at sometime in the future please remember your comment here.
From these boards I see you are already rejecting a large number of trades and any consistent winners get placed on 'refer to trader' (as was one of our staff) or words to that effect, this is blatantly unreasonable but quite a good way of ensuring that you only end up with serial losers. Or, as with another client, pleading to be allowed to make 3 or 4 trades a day on his account. How kind of you to allow a client to trade with his own money in such a fashion!
I would love to trade on the Worldspreads platform but unfortunately, on application, I was rejected as presumably I was expected to be a winner (obviously they never saw my trading account with City Index!) we have never rejected an employee of another SB company.
Anyway... enough said .. we do not have arguments with other SB companies and we wish Worldspreads all the best as the more clients and companies who enter the market the better. You will notice that I have not gone to your Worldspreads thread to comment a similar level of respect would be welcome.
As a matter of fact FXmarkets has given us just as hard a time of it on occasion when we did not come up to his expectations.
good trading
Simon--------------------------------------------------------------------------------
Some great posts here guys! I've given away all my stars 
Marvin,
From what has been said, I am not sure if you guys at WS have found a winning business strategy. You're seeking more customers but existing ones are not best served. And I don't think this thread has been helping you guys a lot with reputation building.
There's a tremendous amount of good will here and if you're 100 per cent open and up front, WS will benefit a lot.
At the moment, Fins is still offering me more services than you are. I hope you'll play catch up soon as you were with them before.
Good trading and happy discussion!
Hung
Marvin,
From what has been said, I am not sure if you guys at WS have found a winning business strategy. You're seeking more customers but existing ones are not best served. And I don't think this thread has been helping you guys a lot with reputation building.
There's a tremendous amount of good will here and if you're 100 per cent open and up front, WS will benefit a lot.
At the moment, Fins is still offering me more services than you are. I hope you'll play catch up soon as you were with them before.
Good trading and happy discussion!
Hung
OK FXMRKTS - you have now received my respect for not snapping back. I must admit it is now time to start really answering questions rather than squirting around the pamella anderson video, hehehe!
I even responded to the CapSpreads thread because of one or two of you....
I will be off work from Thursday onwards for 2 weeks, and will have time to communicate properly with you, away from stress. I apologise for any dis-respect....
Sincerly
Marvin
I even responded to the CapSpreads thread because of one or two of you....
I will be off work from Thursday onwards for 2 weeks, and will have time to communicate properly with you, away from stress. I apologise for any dis-respect....
Sincerly
Marvin
As is documented I had problems with W/S by being put on dealer referred and was not happy. I complained to marvin about this on this thread, he asked me to call him to sort out my problems, with W/S. we had a chat and come to an arrangement which I am happy with.
I was trading very aggressive with them, doubled my account in 2 days, before putting me on dealer referred, to see if I was doing something I shouldn't. Anyway Marvin have put me back on full Auto fills. with no dealer interference. .
lets see if I can make 100,000 this years, with no problems, I will let the thread know if I get there trouble free. but as of now I am happy with worldspreads.
I was trading very aggressive with them, doubled my account in 2 days, before putting me on dealer referred, to see if I was doing something I shouldn't. Anyway Marvin have put me back on full Auto fills. with no dealer interference. .
lets see if I can make 100,000 this years, with no problems, I will let the thread know if I get there trouble free. but as of now I am happy with worldspreads.
Dear Marvin,
I may or may not agree with fx markets and I may or may not agree with you too, however I'll defend his freedom of speech and expression. If freedom of speech is the freedom to say what is acceptable by your standarts, then I should urge you to anwser his question that we all here identify as legitimate. We are still within the circle of trust, we read your messages and our conclusions are always dependent upon the truth and integrity of your professional status within the financial industry. Let us focus on business and not on personal rivalry. This is the engine room, it might become a little bit hot from time to time but who cares as long as we develop a relationship of trust that will help us to achieve that "peace of mind in dealing with finance professionals". I would like to invite Simon from CS to participate in this discussion, and I've to say that I've very much appreciated your contribution on the CS thread. Be aware that you are facing constant scrutinity from the public, some might forgive you, others don't. I am only interested in facts, no monkey business. Have a good night .
I may or may not agree with fx markets and I may or may not agree with you too, however I'll defend his freedom of speech and expression. If freedom of speech is the freedom to say what is acceptable by your standarts, then I should urge you to anwser his question that we all here identify as legitimate. We are still within the circle of trust, we read your messages and our conclusions are always dependent upon the truth and integrity of your professional status within the financial industry. Let us focus on business and not on personal rivalry. This is the engine room, it might become a little bit hot from time to time but who cares as long as we develop a relationship of trust that will help us to achieve that "peace of mind in dealing with finance professionals". I would like to invite Simon from CS to participate in this discussion, and I've to say that I've very much appreciated your contribution on the CS thread. Be aware that you are facing constant scrutinity from the public, some might forgive you, others don't. I am only interested in facts, no monkey business. Have a good night .
Swissy - the circlie of trust is key and that is why i have stopped talking crap and talking in circles. Now is the time to deliver and too talk professionally like Simon D. One thing i have learnt is this, step away from personal feelings and answer the bloody questions. Sorry mate, i was on CNBC last week for only 15 minutes on TV and it made me sure as hell, there are more intelligent individuals than myself....
No more monkey business i promise!
No more monkey business i promise!
JTrader
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Apologies for posting this on both the CS & WS thread - but here are my last words on the general subject and highlight the approach that I think both companies need to adopt -
Lets hope that both WS & CS can continue to lead the way in terms of offering tighter spreads, speed of execution, transparency of service etc. etc. Both compnaies have shown that they WILL answer to their clients..................
I had a chat with another spreadbet comapany beginning with the letter "C" recently, when I started to ask questions about what data dource they derive their spreads from, and on whjat basis are trades filled automatically - I felt like I was under interrogation from the CIA..........
"Do you hold an account with us?"
"Whats your account number?"
"I'm unable to go into the specifics......." etc. etc.
I was made to feel like I had no business asking such questions - and yet they want me to trust them and leave my money at their mercy???
This type of approach does nothing for a service provider, and deserves nothing but mass abandonment by existing clients. Surely a client has every right to know exactly how the service providers systems work inside out?
For both CS & WS - tighter spreads than the competition, fast trade executions at all times, a reliable trading platform, non-biased spreads/prices, open/transparent approach/attitude from staff - This is how to attract and keep custom.
jtrader
Lets hope that both WS & CS can continue to lead the way in terms of offering tighter spreads, speed of execution, transparency of service etc. etc. Both compnaies have shown that they WILL answer to their clients..................
I had a chat with another spreadbet comapany beginning with the letter "C" recently, when I started to ask questions about what data dource they derive their spreads from, and on whjat basis are trades filled automatically - I felt like I was under interrogation from the CIA..........
"Do you hold an account with us?"
"Whats your account number?"
"I'm unable to go into the specifics......." etc. etc.
I was made to feel like I had no business asking such questions - and yet they want me to trust them and leave my money at their mercy???
This type of approach does nothing for a service provider, and deserves nothing but mass abandonment by existing clients. Surely a client has every right to know exactly how the service providers systems work inside out?
For both CS & WS - tighter spreads than the competition, fast trade executions at all times, a reliable trading platform, non-biased spreads/prices, open/transparent approach/attitude from staff - This is how to attract and keep custom.
jtrader
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after reading through missed posts things look a bit better than the weekend. if you can just explain to me the issue of price been refreshed only every 20secs,(as mentioned earlier)MarvinS said:
may put couple of k in and give it a go. i mainly trade the dow and think 1point spread unbeatable by a sb.
This business about narrower spreads or even a 1pip spread is really missing the point in my opinion. All the spread betting companies platforms (and most are only white label versions from Ariel Solutions) are what are known as “price taking” systems. This means that you have to trade at their price only, you have to hit their bid or their offer, and where on some platforms you can bid or offer, you will only get filled when they are bid through you offer, and vice versa. Consequently you are always initially on the wrong side of the price. That of course is if you can get the trade on in the first place, what with their little tricks like ratting on the price, re-quotes, slow execution, skewed price etc. Just out of interest I’ve recently had a whirl on CMC and IG and it is impossible to trade FTSE or any of these indices in fast moving markets; the systems look nice but in reality they are just toys. (No toys is the wrong word…s**t would be a better one) The fact that they advertise 1 pip spread is meaningless. If you want to spread bet the only choice is futuresbetting because they have a “price making” platform that is direct market access. Up until when I started with fb I’d been trading for the past 6 years electronically on RTS and I can tell you that fb’s execution is exactly the same. Their widest price is ½ tick either side, so total 1½ on the FTSE, but at least you get the bet on and can see the depth etc. Who cares anyway about a ½ tick or even 1 tick difference when you’ve got the DAX, FTSE, DOW etc winging around 100+ ticks a day…. What’s important is the execution and the speed that happens.
counter_violent
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Beats me why all these S B Co's spend all their time dicking around with prices re-quotes and all the rest of the tricks.
How about this Marvin. Attract Winning Traders and Give them Exactly what they need to do Their Job.......The Tools......Then........ Wait for it..........Piggy Back Their Trades......
Free Experts to take Advantage of !
Seriously, how hard would this be ? Then again, it's perfectly possible that this is done already, but maybe just maybe the greed factor comes to bear.....after all it's easy to mess the mugs about. Never give a sucker an even break. eh what !
Nothing personal as I don't know you from Adam.
regs
C V
How about this Marvin. Attract Winning Traders and Give them Exactly what they need to do Their Job.......The Tools......Then........ Wait for it..........Piggy Back Their Trades......
Free Experts to take Advantage of !
Seriously, how hard would this be ? Then again, it's perfectly possible that this is done already, but maybe just maybe the greed factor comes to bear.....after all it's easy to mess the mugs about. Never give a sucker an even break. eh what !
Nothing personal as I don't know you from Adam.
regs
C V