Zero Spread WorldSpreads

[lancenicolase]

I agree, this will not work with such a huge deposit. They just try to make some good will for the company introducing this 0 spread offer. It is totally useless for the most of us. Also considering their view on short term traders, not many will stand in line to join. If you are a swing trader it doesn't matter that much anyway.

I agree that this promo is totally useless for the most of us but it wasn't created for the masses, they target only frequent traders with big deposits.
The ad looks very fishy as you can see Zero Spread but it's not for everyone... people go on their website to check out the offer and realise that they don't qualify for it.

What is their view on short term traders? I do trade only short term and rarely hold a position over night... would I have a problem trading with them?

 

[gle101]

I agree that this promo is totally useless for the most of us but it wasn't created for the masses, they target only frequent traders with big deposits.
The ad looks very fishy as you can see Zero Spread but it's not for everyone... people go on their website to check out the offer and realise that they don't qualify for it.

What is their view on short term traders? I do trade only short term and rarely hold a position over night... would I have a problem trading with them?

I honestly don't know. Many years since I traded with them, and I really liked them at first. But I moved on the moment they put me on referral to a dealer. Today there are so many other good SB to trade with so I have never looked back.

 

[Ross Spur]

I honestly don't know. Many years since I traded with them, and I really liked them at first. But I moved on the moment they put me on referral to a dealer. Today there are so many other good SB to trade with so I have never looked back.

That was my experience, too. WS offered 1pt spread on the Dow when they started, which was 3pt tighter than everyone else at the time. I did try them again earlier this year, but the platform soon put me off. Rather than offer zero spreads on premium accounts they should go back to 1pt on Dow for everyone.

 

[lancenicolase]

That was my experience, too. WS offered 1pt spread on the Dow when they started, which was 3pt tighter than everyone else at the time. I did try them again earlier this year, but the platform soon put me off. Rather than offer zero spreads on premium accounts they should go back to 1pt on Dow for everyone.

Can I ask what is wrong with their platform? Is it difficult to use? I saw someone mentioned that they show different quotes in different screens, is it the case?

I'm trying to understand why would they make zero spreads for people who don't qualify for it and advertise it everywhere (I hope I'm right on this)?

Is it just a fishy advert or they do open premium accounts? Well, feedback from their CEO would be helpful.

 

[lancenicolase]

That was my experience, too. WS offered 1pt spread on the Dow when they started, which was 3pt tighter than everyone else at the time. I did try them again earlier this year, but the platform soon put me off. Rather than offer zero spreads on premium accounts they should go back to 1pt on Dow for everyone.

I honestly don't know. Many years since I traded with them, and I really liked them at first. But I moved on the moment they put me on referral to a dealer. Today there are so many other good SB to trade with so I have never looked back.

Can I ask what platform you'd recommend to a new trader? No high deposits but good support and reliable platform.

 

[Ross Spur]

Can I ask what platform you'd recommend to a new trader? No high deposits but good support and reliable platform.

If you're really in California I wouldn't recommend any SB, because it's illegal!

Just remembered there are Californias in Derby, Birmingham and Norfolk, so maybe you'll be OK.

 

[Conor Foley]

Can I ask what is wrong with their platform? Is it difficult to use? I saw someone mentioned that they show different quotes in different screens, is it the case?

I'm trying to understand why would they make zero spreads for people who don't qualify for it and advertise it everywhere (I hope I'm right on this)?

Is it just a fishy advert or they do open premium accounts? Well, feedback from their CEO would be helpful.

Dear Lancenicolase,

I guess the simple answer is to try it for yourself. I did offer to investigate the issue of the "different quotes in different screens" but the gentleman in who raised it said it happened a few years ago and wasn't able to provide screen shots that would facilitate an investigation. The offer remains open, but I have only heard this complaint once in 7 years!

With regards to the Platinum Accounts, there is nothing "fishy". We wouldn't advertise it if we weren't prepared to offer it. The response rate has been quite positive and again, you are welcome to try it yourself.

I hope this helps, but please feel free to come back to me with any questions.

Regards,

Conor Foley
CEO
WorldSpreads

 

[top trader]

Dear Conor

I opened an account but money not deposited. I still see wider spread.

How is this going to work?

Thanks

 

[Conor Foley]

Dear Conor

I opened an account but money not deposited. I still see wider spread.

How is this going to work?

Thanks

Dear Top Trader,

If you e-mail me at [email protected] I will respond to you about your own account in the first instance.

We can then respond to anything in the public forum, if need be.

Regards,

Conor Foley
CEO
WorldSpreads

 

[gle101]

Can I ask what platform you'd recommend to a new trader? No high deposits but good support and reliable platform.

There are many good ones around, Capitalspreads, Cityindex, Gekko Markets and the promising MT4 platform new starter Smart live markets (a very small entry stake), being an example of a few. Worldspreads is probably quite a good choice as well, some new useful features on the platform I notice since last I traded with them. Overall SB companies today offers narrow spread and good service.

 

[pit pony]

There are many good ones around, Capitalspreads, Cityindex, Gekko Markets and the promising MT4 platform new starter Smart live markets (a very small entry stake), being an example of a few. Worldspreads is probably quite a good choice as well, some new useful features on the platform I notice since last I traded with them. Overall SB companies today offers narrow spread and good service.

gle

i agree with your comments, but what always worries me is that you have to deposit a large sum to be offered the 0 spreads, also how do they make their money other than by taking your trade on thier book, so how many re-quotes.???
i know you have to trade larger size as in lots with ProSpreads but i cant find anybody better.

 

[gle101]

gle

i agree with your comments, but what always worries me is that you have to deposit a large sum to be offered the 0 spreads, also how do they make their money other than by taking your trade on thier book, so how many re-quotes.???
i know you have to trade larger size as in lots with ProSpreads but i cant find anybody better.

Yes £5000 is way too much to deposit, but as far as I understand the money deposit is ring fenced (the account holder must make sure to check this out, if this is the case). Anyway, when I was referring to Worldspreads I meant the ordinary account.

 

[Ross Spur]

That surprises me, because it is, or was, a characteristic of the original platform, and there was no change in that aspect when I tried the new updated version earlier this year. Whether it matters much probably depends on how you're trading. I certainly found it irritating and confusing.
If you're confident the platform is now OK I'd be delighted to try WS again if I qualify for the 'up to £300 losses refund' offer, especially if you reduce the deposit requirement for a Platinum to something more sensible.

 

[lancenicolase]

That surprises me, because it is, or was, a characteristic of the original platform, and there was no change in that aspect when I tried the new updated version earlier this year. Whether it matters much probably depends on how you're trading. I certainly found it irritating and confusing.
If you're confident the platform is now OK I'd be delighted to try WS again if I qualify for the 'up to £300 losses refund' offer, especially if you reduce the deposit requirement for a Platinum to something more sensible.

Ross, I mentioned it already in the previous thread that you don't get £300 safety net if you open a premium account.
I'm not sure about their trading platform but they've got some good white labels such as Ladbrokes (correct me if I'm wrong) so I'd assume the issues are fixed.

I guess Conor would be the person to ask this, especially if this issue has been mentioned a few times.

 

[Luc.Chase]

I'd probably give it a go if I had more (any) confidence in their platform, but I think they'd need to reduce the requirement to £500 to get many takers.

How on earth do you expect to trade properly with such a small account??? How many times can you bet with a 1% to 2% risk when you only have 500 in your account? 5K account is a reasonable min requirement for this promo.

 

[brewski1984]

How on earth do you expect to trade properly with such a small account??? How many times can you bet with a 1% to 2% risk when you only have 500 in your account? 5K account is a reasonable min requirement for this promo.

isnt the answer the same amount of bets for both £500 and £5000??

 

[Ross Spur]

How on earth do you expect to trade properly with such a small account??? How many times can you bet with a 1% to 2% risk when you only have 500 in your account? 5K account is a reasonable min requirement for this promo.

Depends what you mean by 'properly', I suppose. If you mean trade as you might with DMA futures then it would difficult, but it's perfectly possible to spread bet FX, indices and shares starting with a couple of hundred quid, although you'll need patience and probably a bit of luck to build the account, Once over that hurdle, the sky's the limit, assuming the spreadbet co doesn't interfere...

 

[Pat494]

Personally I use Finspreads.com for the following reasons:-
1. One can have a small ( as little as £200 ) a/c for indices
2.spreads are reasonable on the S&P 500 e.g. 0.4
3.Min bet £1 per point ( less if you are a new investor ) and therefore good and cheap for practicing new methods
4. Their charts are basic but adequate. No need for exotic and costly Prorealtime charts etc


There are posters on T2W and other sites that scoff at tiny accounts size and a 1 or 2% stake.

It is obviously VERY FOOLISH betting big before you learn to win consistently

 

[Visaria]

Back on topic:

Conor, with reference to the indices that you are offering at zero spread for platinum accts, for example the FTSE. Are you offering the daily ftse cash, daily ftse future or the quarterly or all at zero spread?

Basically, can you be more specific about the exact instruments you are offering zero spreads on?

Also, how are stop orders executed on this account? Are they based on your quote or the underlying market?

 

[England765]

The zero point spread on the indices is only on the "daily rolling future", not on the cash market.

Also, here's the other BIG catch: if you hold this position overnight they charge you 1 index point every day it's open. How is that justified? it's a futures price so there is no overnight financing which can be applied. No other spread bet company I know gets away with this.

There had to be a catch... Although the up-front price is clearly good it soon ends up being more expensive than everyone...

John