BlueIndex, anyone use them?

[alanp314]

Is there anyone that uses BlueIndex at the moment and what are they like.
Advisory or execution.
Can't find much about them in reviews from traders.

Thanks

Alan

 

[diagram-p]

Hi Alan,

I used Blue index to trade CFDs in 2006. I found their execution to be fairly poor. They were more interested in carrying trades over to charge LIBOR+ on the margin and executing large numbers of trades to increase their fees. I negotiated tighter fees with them and advised them of the stops and limits that I wanted to trade but they did not seem interested in a completely non-discretionary account arrangement. Over a six month period I found their research to be average to say the least. If you are going to trade with them, I would suggest bein tough in negotiating the fees per trade and confirming whether you wish to hold the positions over.

I hope that helps...obviously it is only my opinion.

 

[Trekky]

admittedly, I was close to opening an account with them - they are quite aggressive sales people. I tracked the recommendations they sent and as another person on this board said "they may as well use a dart board in selecting stocks". What made me cancel the meeting to open the account was the trader saying they had to cancel our meeting to meet a client who was flying in from the middle-east. May have been true, but the more I read about them the more dubious it sounded. Deal yourself, you'll make more long term.

 

[diagram-p]

When I first traded with them, they managed to pick one or two good stocks but they hedged with short positions on some rediculous stocks which inevitably lost more than the good stocks made. I think it is worth remembering that these traders are only as good as the market data that they receive from their researchers; there does not appear to be any analytics regarding entries and exits

 

[TheOwl]

I dealt with them about 12 Months ago..and in 2 weeks they managed to lose £2500 for me
I closed my account, but they still ring me about every 2 months asking if I want to try again !
My advice for whats it worth is dont use them ...

 

[mosquitoc]

I was thinking about dealing with BlueIndex, i have been talking to a broker there for a few weeks and he seems quite friendly and above all knowledgable, I have dealt with a few advisory firms in the past with mixed results should i give them a miss?

 

[TheOwl]

I was thinking about dealing with BlueIndex, i have been talking to a broker there for a few weeks and he seems quite friendly and above all knowledgable, I have dealt with a few advisory firms in the past with mixed results should i give them a miss?

They rang me again a couple of weeks ago, I again told them " No way", its only my experiance but I would give them a wide berth.

Dave