Zero Spread WorldSpreads

I opened an account with twowayspreads and put in £500 as stated to receive the £150 after doing 10 trades to try the platform out if was going to put £5000 in for zero spreads. My experience with worldspreads platform has been nothing but stress, I like to have the dealing ticket up on the screen with my stake in so I can click with no hassle, but the WS bring up their dealing ticket and it times out after 300 seconds and when you bring it up your charts go down the bottom. I must of brought up the dealing ticket and charts over 20 times in an hour, as I have gone to trade dealing ticket has disappeared as I was about to press to see the trade move quickly in my favour and thats happened around 4 times as well as when it feels like when you click to open an a trade it suddenly wants you to confirm. On top of that when you try and close a trade in your favour you have to confirm but when its in their favour it closes straight away and not forgetting when you click to open or close your trade is at a different price when you click in their favour and the platform can freeze on you. Wish I never opened the account. You live and learn.

I funded the account a few weeks ago so had already started to use it before advice on here.
 
Black Swan said:
If I could take a punt on the first SB firm to go pop and take client money down with them in a major way it'd be WS..why should anyone part with 5k to get access to a SB platform with FX rates (truly) no better than fxcm/alpari micro? Anyone falling for the zero spread nonsense needs help/therapy..
Click to expand...

Dear Black Swan,

All client funds deposited at WorldSpreads are held in Client Segregated Funds Accounts, a requirement of all FSA regulated spread betting companies.

We also offer Credit Accounts for qualifying clients who do not wish to deposit Initial Margin.

Regards,

Conor Foley
CEO
WorldSpreads
 
I changed from twowayspreads to worldspreads as i didn't like the execution at twowayspreads.
I found the execution at world spreads to be better and fairer.
I used the account as a bit of a hedge and incurred a loss over the 8 weeks trial period but was surprised to find out that I wasn't eleigible for cash back [new accounts] offer due my holding an account with affiliate twowayspreads.
They obviously are backed up by the fine print but speaking to sales staff from either company you would think they were completely different when the other is mentioned. I received no warning when opening a new account but they were quick to tell me I wasn't eligible for the refund when I applied.

The result is that instead of continuing to trade with worldspreads which I was fairly happy with I will not trade with either again.
 
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bustard said:
I changed from twowayspreads to worldspreads as i didn't like the execution at world spreads.
I found the execution at world spreads to be better and fairer.
I used the account as a bit of a hedge and incurred a loss over the 8 weeks trial period but was surprised to find out that I wasn't eleigible due my holding an account with affiliate twowayspreads.
They obviously are backed up by the fine print but speaking to sales staff from either company you would think they were completely different when the other is mentioned. I received no warning when opening a new account but they were quick to tell me I wasn't eligible for the refund when I applied.

The result is that instead of continuing to trade with worldspreads which I was fairly happy with I will not trade with either again.
Click to expand...

LOL!!!!!!!! They are basically the same company with the same web system. :clap:
 
yes very funny , I obviously knew the platforms were the same but didn't realise they were the same company to quote sales staff "they white label our platform" no mention of affiliation
 
bustard said:
I changed from twowayspreads to worldspreads as i didn't like the execution at twowayspreads.
I found the execution at world spreads to be better and fairer.
I used the account as a bit of a hedge and incurred a loss over the 8 weeks trial period but was surprised to find out that I wasn't eleigible for cash back [new accounts] offer due my holding an account with affiliate twowayspreads.
They obviously are backed up by the fine print but speaking to sales staff from either company you would think they were completely different when the other is mentioned. I received no warning when opening a new account but they were quick to tell me I wasn't eligible for the refund when I applied.

The result is that instead of continuing to trade with worldspreads which I was fairly happy with I will not trade with either again.
Click to expand...

Are they not classified as separate companies under FSA rules?
 
I don't know.
I was informed that on the twowayspreads website is an article that states
"Twowayspreads is a trading name of Worldspreads Ltd"
 
bustard said:
I don't know.
I was informed that on the twowayspreads website is an article that states
"Twowayspreads is a trading name of Worldspreads Ltd"
Click to expand...

This needs looking into, because you can open accounts in the various Capital Spreads white labels and qualify for the offer(s). The whole idea is that they're not the same company. They can't have it both ways (or Two Ways?).
 
Yes it doesn't seem right but unfortunatly I think they are covered as it says in the offer details that it is not available to clients with accounts with affiliates.

I think they should warn people to who it would apply though. It's obviously not an onerous task to check when creating a new account as the negative reply to my cashback claim was within the hour
 
I don't think the T&Cs make it clear:

<<To qualify for the offer, you must be accepted by twowayspreads as a new client. The offer is not available to employees of WorldSpreads or TMS Capital or their affiliates, existing clients; or members of their households.

You are a new client of Twowayspreads, and presumably you're not an employee of WS or its affiliates.
 
on the world spreads offer [the one that applies to myself] the wording is the same however right at the bottom is this
"The offer is not available to existing clients of WorldSpreads or any of its affiliates."
Thanks for looking at it !
 
I agree this is a little bit underhand. If any of you play online poker you will know that alot of the pokersites operate within the same networks but you are still eligible for all the bonus offers of every different poker site. Same should apply here imo.
 
Hi Chaps

Regarding Worldspreads. It's all very well putting up choice markets and one tick spreads but the dealings that I've had with these guys is going to lead to a missed trade on a semi regular basis. For example Cable is a 2 tick spread. If you have a ticket open and the market is 1.6300 Bid 1.6302 Offered and you hit a sell at 1.6300 if the price is trading 1.6299 their end in the time between you hitting the ticket and the trade appearing their end then you get a knock back. Happened to me last week. Bear in mind this was on a 2 tick spread as well. God knows what it's like with a choice market.
In FX market movement is inevitable - if you're purely trading FX then you are going to encounter countless situations when this happens and it's going to cost you if the market turns on your level, like it did for me the other day. I must also add that this trade was attempted twice and both times got rejected.

Yes, I totally understand that there's a band of annoying mugs out there that will try and pick off a choice price but with a 2 tick spread I find it a joke that you can have your trade rejected when the market was at that level. It's no good them crying their end giving it "the price wasn't there". It was there when the ticket was 1.6300 Bid and 1.6302 Offered. It's random moves at the end of the day. How on earth can you say "the market's not there" when you're ticket has shown the bid and offer? That's schoolboy stuff as far as I'm concerned.
 
I got an email the other day from worldspreads about 'AutoChartist' (i have a live account with them but its kind of dormant at the moment). Is anyone using it and do they want to comment on its usefulness or otherwise?
 
oldschool29 said:
Hi Chaps

Regarding Worldspreads. It's all very well putting up choice markets and one tick spreads but the dealings that I've had with these guys is going to lead to a missed trade on a semi regular basis. For example Cable is a 2 tick spread. If you have a ticket open and the market is 1.6300 Bid 1.6302 Offered and you hit a sell at 1.6300 if the price is trading 1.6299 their end in the time between you hitting the ticket and the trade appearing their end then you get a knock back. Happened to me last week. Bear in mind this was on a 2 tick spread as well. God knows what it's like with a choice market.
In FX market movement is inevitable - if you're purely trading FX then you are going to encounter countless situations when this happens and it's going to cost you if the market turns on your level, like it did for me the other day. I must also add that this trade was attempted twice and both times got rejected.

Yes, I totally understand that there's a band of annoying mugs out there that will try and pick off a choice price but with a 2 tick spread I find it a joke that you can have your trade rejected when the market was at that level. It's no good them crying their end giving it "the price wasn't there". It was there when the ticket was 1.6300 Bid and 1.6302 Offered. It's random moves at the end of the day. How on earth can you say "the market's not there" when you're ticket has shown the bid and offer? That's schoolboy stuff as far as I'm concerned.
Click to expand...

Wonder if you would have got filled if you tried to lift the offer.....ERM!
 
pit pony said:
Wonder if you would have got filled if you tried to lift the offer.....ERM!
Click to expand...

Yeah exactly. They're Mickey Mouse anyways, two bob outfit run by a dodgy Mick. All they're trying to do is rip off Mr Average Joe.

Platform is an absolute joke too.
 
Conor Foley

Hi, Quick question ( I did PM you, got no reply). How do you make a profit on your zero spread pairs, if at all?
Thanks
 
Truth Seeker said:
Conor Foley

Hi, Quick question ( I did PM you, got no reply). How do you make a profit on your zero spread pairs, if at all?
Thanks
Click to expand...


You don't need to ask him, TS. Most spreadbetters will lose whatever the spread, and those that don't will be put on referral.
 
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