tar
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minitrader101
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where did that rule come from ? Another one of their dealer invented terms ?
My questions as of August:
1. I see you are FSA regulated so can you tell me how much of my money
will be protected if you also go under?
2. I am a firm believer that you can offer zero spreads if you have
excellent hedging capability and of course you have many clients. Can
you tell me about the trading styles you allow? For instance, what
sort of time frame do you expect trades to be open for?
3. Do you accept non-professional traders?
4. Is it okay for clients to focus on the zero spread instruments?
5. What sort of execution do you have? Is it fixed as in I get the
price I see or variable as in I trade and if the price moves, I get
filled at a new price? Also do you reject trades or accept trades even
though the price moved after I traded?
6. What max trade size do you accept for EURUSD, DJIA, FTSE, GOLD and
BUND? Minimum is 1ppp?
7. If I have several open positions in one instrument, can I close
them all simultaneously or one-by-one? Is it possible to attach a stop
loss on the aggregate position?
8. Is it possible to hedge?
9. Can I have a trade ticket open ready to trade with trade size and
stop loss put in? Is it one-click execution?
Cantor reply:
1) You are covered up to £50,000 by the FSCS scheme
2) Your average position time held should be more than 1 minute and you may not trade more than 100 times per day on zero spread instruments
3) Yes
4) Yes
5) You may get requoted if the price has moved substantially when your trade is received whether it be in or out of your favour but the majority go through automatically
6) Min, yes. £1pp. Max £100pp online
7) You can only have one trade per instrument open at a time so there is no aggregation of orders
8) If by hedge you mean have a long and short in same instrument, this isn't possible
9) You can but this takes up the whole screen
Hope it helps.
1. I see you are FSA regulated so can you tell me how much of my money
will be protected if you also go under?
2. I am a firm believer that you can offer zero spreads if you have
excellent hedging capability and of course you have many clients. Can
you tell me about the trading styles you allow? For instance, what
sort of time frame do you expect trades to be open for?
3. Do you accept non-professional traders?
4. Is it okay for clients to focus on the zero spread instruments?
5. What sort of execution do you have? Is it fixed as in I get the
price I see or variable as in I trade and if the price moves, I get
filled at a new price? Also do you reject trades or accept trades even
though the price moved after I traded?
6. What max trade size do you accept for EURUSD, DJIA, FTSE, GOLD and
BUND? Minimum is 1ppp?
7. If I have several open positions in one instrument, can I close
them all simultaneously or one-by-one? Is it possible to attach a stop
loss on the aggregate position?
8. Is it possible to hedge?
9. Can I have a trade ticket open ready to trade with trade size and
stop loss put in? Is it one-click execution?
Cantor reply:
1) You are covered up to £50,000 by the FSCS scheme
2) Your average position time held should be more than 1 minute and you may not trade more than 100 times per day on zero spread instruments
3) Yes
4) Yes
5) You may get requoted if the price has moved substantially when your trade is received whether it be in or out of your favour but the majority go through automatically
6) Min, yes. £1pp. Max £100pp online
7) You can only have one trade per instrument open at a time so there is no aggregation of orders
8) If by hedge you mean have a long and short in same instrument, this isn't possible
9) You can but this takes up the whole screen
Hope it helps.
minitrader101
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Twinj cheers for the info. I couldn't find the 100 trades and min 1 min term in any of their terms.
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Yes they know that far less traders will sign up buy informing correctly about the trading conditions. Although, it might not be allowed according to the MiFID to have a restriction such as time limit on zero spread. The limit of 100 trades per day I could accept, but not the 1 minute limit term for holding an order.
Last edited:
Vasco da Banana
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Hmm. I'm pretty sure they said there were no restrictions when I asked.
tar
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no
Tar probably mean that they do not manipulate the price feed.
And I agree, they will do other things like restriction in time and maybe delays in execution.the big item here is that you must first do £500 worth of trades in a month (i.e 50 individual opening £10 FTSE trades) and then choose your one (single, only, unitary) market for zero spreads. ... then you must not over trade /scalp/make a profit/etc etc and they might/possibly/could allow you to continue
too many things to think of .. rather stick with guys who know what they are doing . and do not resort to complicated gimmicks...
instant
too many things to think of .. rather stick with guys who know what they are doing . and do not resort to complicated gimmicks...
instant
Vasco da Banana
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The spectre of Worldspreads is hanging over them.
Not so good if you are a short term trader as there are restrictions in trading style, otherwise it might work out.
Well under 1 minute they are not happy, yes a couple of pips and you will certainly be told to change your trading style. It might be worth a try if you hold your position considerably longer time in average. Personally I don't feel comfortable with time limits on trades whether I trader on longer time frames or not. Trading is hard enough without it.
