Best SB company for matching their quotes

[GMP]

I wonder if anyone can recommend the best (UK-available) SB company for matching the price they quote a market at when you actually place and close a bet? I've heard some horror stories about seeing one price for a Buy and then having it "slip" against you in the time it takes the company to confirm the bet.
Are there any that have the placing and closing of bets completely automated, and if so is this reflected in an increased spread?
I'm interested at the moment in fx (£/$) if that has any relevance.
Thanks for any comments.

 

[trader_dante]

I wonder if anyone can recommend the best (UK-available) SB company for matching the price they quote a market at when you actually place and close a bet? I've heard some horror stories about seeing one price for a Buy and then having it "slip" against you in the time it takes the company to confirm the bet.
Are there any that have the placing and closing of bets completely automated, and if so is this reflected in an increased spread?
I'm interested at the moment in fx (£/$) if that has any relevance.
Thanks for any comments.

I've never experienced a price fill different from the one I clicked on. What you see has ALWAYS (at least for me) been what you get.

The only time this differs is when you place an ORDER.

If it helps I use E*Trade, Finspreads, TD Waterhouse, Barclays SB, IG Index, Tradindex and Selftrade.

 

[gle101]

I've never experienced a price fill different from the one I clicked on. What you see has ALWAYS (at least for me) been what you get.

The only time this differs is when you place an ORDER.

If it helps I use E*Trade, Finspreads, TD Waterhouse, Barclays SB, IG Index, Tradindex and Selftrade.

Really, I am kind of surprised reading this. In a fast moving market like the FX this is a constant problem, especially during important news releases.

 

[GMP]

Really, I am kind of surprised reading this. In a fast moving market like the FX this is a constant problem, especially during important news releases.

This is what I'd heard - I imagine it's more of an intraday market issue than anything else, but I'd like to go with whichever SB firm has the best rep on this if possible.

 

[GMP]

I've never experienced a price fill different from the one I clicked on. What you see has ALWAYS (at least for me) been what you get.

The only time this differs is when you place an ORDER.

If it helps I use E*Trade, Finspreads, TD Waterhouse, Barclays SB, IG Index, Tradindex and Selftrade.

Thanks, that's encouraging - does this include fx?

 

[trader_dante]

Thanks, that's encouraging - does this include fx?

Yes. I mainly trade FX.

E*Trade are very good. You always get filled at the price you see. I've never had a requote in two years. Not even in a fast market. They also never widen their spreads.

They don't have the most professional platform but you can always use charting and news from another broker and just use E*trade to execute.

 

[gle101]

Yes. I mainly trade FX.

E*Trade are very good. You always get filled at the price you see. I've never had a requote in two years. Not even in a fast market. They also never widen their spreads.

They don't have the most professional platform but you can always use charting and news from another broker and just use E*trade to execute.

Are you trading with E*Trade spread betting unit? They have a white label setup from London Capital Group Ltd (Capitalspreads). So the problems we are experiencing with Capitalspreads should be similar to trading with E*Trade. Do you experience freezing or delayed execution?

 

[trader_dante]

Are you trading with E*Trade spread betting unit? They have a white label setup from London Capital Group Ltd (Capitalspreads). So the problems we are experiencing with Capitalspreads should be similar to trading with E*Trade. Do you experience freezing or delayed execution?

Nope.

Never had a freeze.

Never had a delayed execution.

Infact I have experienced excellent order execution. In some cases stops that would have resulted in LOSSES are not filled if they are very briefly touched off and the market then moves back in my favour...hard to believe, but true.

The platform has gone down a couple of times seen I have been a customer but, in my opinion, they beat all other SB brokers by a mile.

I also find their spreads are better than most other brokers by a long shot on all the markets I trade.

 

[gle101]

Nope.

Never had a freeze.

Never had a delayed execution.

Infact I have experienced excellent order execution. In some cases stops that would have resulted in LOSSES are not filled if they are very briefly touched off and the market then moves back in my favour...hard to believe, but true.

The platform has gone down a couple of times seen I have been a customer but, in my opinion, they beat all other SB brokers by a mile.

I also find their spreads are better than most other brokers by a long shot on all the markets I trade.

Thanks for your reply. Just to make things clear, do you get "instant execution" and notification, immediately, no delayed execution whatsoever? By delayed execution I mean delayed for about 30 sec. during news releases? Does this apply to the indices (Wall Street Rolling Daily and S&P) as well?

 

[trader_dante]

Thanks for your reply. Just to make things clear, do you get "instant execution" and notification, immediately, no delayed execution whatsoever? By delayed execution I mean delayed for about 30 sec. during news releases? Does this apply to the indices (Wall Street Rolling Daily and S&P) as well?

I don't trade regularly during the news although I have been entering the market at volatile times before (FOMC IR announcement etc) and never had a problem. I would be very surprised if you got a delay of 30 seconds. I usually get around 5 seconds for notification and position to appear in your open p&l.

Having said that I imagine it all depends on what kind of trader you are and how much size you trade at.

I don't scalp or short term trade and I don't do large size (above £25 a tick cumulative).

I am in positions for a minimum of several hours. I had a friend that scalped, making a large number of successful bets in quick succession and after a few days of that he was on manual dealer which then took him longer to get filled.

 

[gle101]

I don't trade regularly during the news although I have been entering the market at volatile times before (FOMC IR announcement etc) and never had a problem. I would be very surprised if you got a delay of 30 seconds. I usually get around 5 seconds for notification and position to appear in your open p&l.

Having said that I imagine it all depends on what kind of trader you are and how much size you trade at.

I don't scalp or short term trade and I don't do large size (above £25 a tick cumulative).

I am in positions for a minimum of several hours. I had a friend that scalped, making a large number of successful bets in quick succession and after a few days of that he was on manual dealer which then took him longer to get filled.

Thanks a lot. Yes, that explains why you don't have any problems with delayed execution.

 

[GMP]

I don't trade regularly during the news although I have been entering the market at volatile times before (FOMC IR announcement etc) and never had a problem. I would be very surprised if you got a delay of 30 seconds. I usually get around 5 seconds for notification and position to appear in your open p&l.

Having said that I imagine it all depends on what kind of trader you are and how much size you trade at.

I don't scalp or short term trade and I don't do large size (above £25 a tick cumulative).

I am in positions for a minimum of several hours. I had a friend that scalped, making a large number of successful bets in quick succession and after a few days of that he was on manual dealer which then took him longer to get filled.

So is it inevitable that the more successful you are SBing, the more the chips are stacked against you? Or is it just a case of the SB firm making sure they cover your bet?
I've seen an ad for "futuresbetting.com" claiming they never re-quote their clients... but maybe they just reject more bets. I'll look them up in the forum and see if anyone can testify either way.

 

[Trader333]

Futuresbetting are a direct access company in all but name so should be pretty good. Of all SB companies, IG seem to be one of the best in terms of being straight with their customers.


Paul

 

[GMP]

Futuresbetting are a direct access company in all but name so should be pretty good. Of all SB companies, IG seem to be one of the best in terms of being straight with their customers.


Paul

Thanks, so that's one vote each for e*trade and IG so far. I've used IG myself in the past with no complaints but that was only for quarterly bets - intraday seems to be a different kettle of fish, so any recommendations are welcome.
I read up on futuresbetting and they seem a bit heavy duty for my requirements at the moment, seeing as I just want to start small with a new approach (it works well enough papertrading but I know full well that doesn't count for an awful lot!).