Account with Schneider Trading Associates - Safe?

[mleung]

Hi, I am new to the board and looking for advice.

I am considering opening an account with STA to day trade UK equity CFDs. They told me I can't have a segregated account as I will be treated as a professional client and FSCS will cover the first £50K as protection. However, judging by the GlobalTrader case, the FSCS cover is not that brilliant - taking so long, if one get anything back at all.

1. Is STA's risk management any good, with regards to non-segregated accounts?

2. Is their service any good in general?

3. Anyone have experience with their RTS platform? How much should I expect to pay to use the platform?

Thanks in advance.

Mo

 

[fantastic]

Hi, I am new to the board and looking for advice.

I am considering opening an account with STA to day trade UK equity CFDs. They told me I can't have a segregated account as I will be treated as a professional client and FSCS will cover the first £50K as protection. However, judging by the GlobalTrader case, the FSCS cover is not that brilliant - taking so long, if one get anything back at all.

1. Is STA's risk management any good, with regards to non-segregated accounts?

2. Is their service any good in general?

3. Anyone have experience with their RTS platform? How much should I expect to pay to use the platform?

Thanks in advance.

Mo

Your money will be safe in and out, and all the traders I know who deal with them have
never had problems getting their money out.

Just make sure you get all the costings in advance - as not everybody can afford them- and communicate regularly with whoever you liase with.

As usual, it is better not to put an excessive amount into any account.

 

[mleung]

Thanks for the advice.