Cantorindex Zero spread offer!

[Vasco da Banana]

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.

So far, the signs are that they're perfectly happy with any trading style if you're not denting their profits.

 

[instant]

mind you minimum order points are miles away.... 12 on the dow and 6 (!) on the FTSE also the minimum margin on all products is multiples of other companies... so the zero spread must be countered against this real barrier

also the margins are mad
for the dow they require £430 on the account to make a £1 bet and £170 on the FTSE

this compares to Capital Spreads who ask for a minimum of £50 on the Dow and £30 on the FTSE (but you have to put a stop in with CS)..... problem is if you were willing to run a 430 point loss on the Dow (!!??) you probably shouldnt be trading anyway.
Also with CS you can place a stop in the Dow only three points away (and their normal spread is narrower anyway)

so while zero spread might sound great........

 

[Vasco da Banana]

mind you minimum order points are miles away.... 12 on the dow and 6 (!) on the FTSE also the minimum margin on all products is multiples of other companies... so the zero spread must be countered against this real barrier

also the margins are mad
for the dow they require £430 on the account to make a £1 bet and £170 on the FTSE

this compares to Capital of £50 on the Dow and £30 on the FTSE (but you have to put a stop in with CS)..... problem is if you were willing to run a 430 point loss on the Dow (!!??) you probably shouldnt be trading anyway.

the offer of making a certain volume of trades to get the offers is very hard when you need such large sums on depo to make them in the first place.

You're right about the wide minimum order distances, which effectively means the zero spreads offer doesn't make much difference, but the margins are actually very low if you add a stop, because Cantor seems to count it as guaranteed, ie. the margin is the same as the stop multiplied by stake.

 

[Visaria]

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.

Sounds preposterous, have they actually told you this (time limits on trades ) or are you just making it up?

 

[gle101]

Sounds preposterous, have they actually told you this (time limits on trades ) or are you just making it up?

Well not me personally, but another trader on this thread got a warning from them saying he had to be in a trade not less than one minute in order to get zero spread without restrictions.

 

[Vasco da Banana]

Zero spreads terminated from end of month. They must have been losing money. Maybe they can't find the Dealer Referral switch on the new platform?

 

[minitrader101]

Zero spreads terminated from end of month. They must have been losing money. Maybe they can't find the Dealer Referral switch on the new platform?

Oh they can find it alright ! particularly if one doesn't comply with the 1 minute made up rule !

Sounds preposterous, have they actually told you this (time limits on trades ) or are you just making it up?

Yep it's true, happened to myself and others I know.

Like you say take your funds out and move on, less stress...

 

[gle101]

Zero spreads terminated from end of month. They must have been losing money. Maybe they can't find the Dealer Referral switch on the new platform?

Yes a good move from them, better to end it, hopefully they can introduce 1 point spread without trading restrictions.

 

[Vasco da Banana]

Yes a good move from them, better to end it, hopefully they can introduce 1 point spread without trading restrictions.

The replacement offer is a 10% stake rebate, which isn't exactly generous.

 

[instant]

It will have the effect of narrowing the spread on your entry trade by 10% (but not your exit). So all spreads will effectively be 95% (on a round trip) of those you see. Are there any constraints? 5k on account, minimum trade volume/size etc. I cannot be bothered to look!

 

[JSMITH07611]

well the zero spreads are following the worldspreads deal.
They are finally closing the business.
all customers moved to spreadex a proper bookie who will drain your account in no time since they are mainly interested in their sports fixed odds.

Its a pity but cantor fell behind way back with no inetiative. they upgraded their platform very late and hired from the same company as etx. (thats why they changed their name to 'capital' from cantor index since etx is also called etx 'capital'

their margin of 2.5% was way to high as most brokers will offer only 0.5%. anyway without volatility in the marketst anymore im sure a few more brokers will fold as well

 

[gle101]

well the zero spreads are following the worldspreads deal.
They are finally closing the business.
all customers moved to spreadex a proper bookie who will drain your account in no time since they are mainly interested in their sports fixed odds.

Its a pity but cantor fell behind way back with no inetiative. they upgraded their platform very late and hired from the same company as etx. (thats why they changed their name to 'capital' from cantor index since etx is also called etx 'capital'

their margin of 2.5% was way to high as most brokers will offer only 0.5%. anyway without volatility in the marketst anymore im sure a few more brokers will fold as well

Well it was expected, zero spread is not a good thing for anyone, it will only lead to restrictions in trading and bad reputation for the company.

 

[Vasco da Banana]

Well it was expected, zero spread is not a good thing for anyone, it will only lead to restrictions in trading and bad reputation for the company.

They stopped doing zero spreads months ago, I think. Still, if a SB sets out to offer tighter spreads and doesn't intend to subsidize it by moving the goalposts, there wouldn't be a problem (except that the SB might suffer a drop in profit, of course).

 

[instant]

I think they started using the capital word because of capital spreads. I am not sure how many people knew that ETX was called ETX capital.

About a year ago they relaunched but were reduced to re-employing old staff and then started making silly promo stunts. But without a reasonable USP base they struggled to gain new clients and many existing clients remembered how they cut credit accounts and doubled margins virtually in the same week when markets got volatile in 2007, if i remember correctly. Costing clients a fortune. things like that tend to linger in the mind. The company was always controlled from the US institutional broking arm (Cantor Fitzgerald), people who had no real understanding of the retail investor/trader.

One more SB company down. (Delta/MF/PanIndex/Worldspreads/Cantor). Stick with the big guys (IG/City/Capital Spreads and CMC) less likely to have problems. Perhaps the Cyprus Bank episode will show some traders that putting money into companies offering cheap gimmicks is a road to .... pain.