Best Thread Capital Spreads

[capitalspreads]

brake

thanks for the comments. I hope that my reply was not taken to infer critisism on your part as it was a very fair question.

We do quote the 'Daily FTSE futures' on a two pip spread and this will always straddle the live market price (otherwise we could be arbitraged against us).

I really cannot comment on our competitors policies etc etc as a) it is unprofessional and b) I would almost certainly be wrong anyway!!

Simon

 

[bracke]

brake

thanks for the comments. I hope that my reply was not taken to infer critisism on your part as it was a very fair question.

We do quote the 'Daily FTSE futures' on a two pip spread and this will always straddle the live market price (otherwise we could be arbitraged against us).

I really cannot comment on our competitors policies etc etc as a) it is unprofessional and b) I would almost certainly be wrong anyway!!

Simon

Simon

I did not take your original reply as criticism, inferred or otherwise. ( When using this form of communication it is very easy to be misconstrued so I do try and remember to say that I am not criticising if there is the chance that it may be thought that I am) phew !

Just to clarify my understanding are you saying that the daily rolling ftse you offer always (or virtually always) straddles the liffe daily ftse future?

Regards

bracke

 

[capitalspreads]

brake

yes we should always straddle the price.

simon

 

[bracke]

brake

yes we should always straddle the price.

simon

Thanks simon.

Regards

bracke

 

[Jbat001]

Jbat

whoops .. looks like a very sudden devaluation/revaluation. Will try to get the charts amended.

Cheers

Simon

Much obliged - I just hope nobody got their stops activated by this one - Imagine being long at £5 a pip on USD/SEK and a stoploss 200 pips away. That gap there is on the order of several tens of thousands of pips! If that triggered a stoploss but gapped lower, the damage would be ridiculous. I'm sure it doesn't happen like this on your system, but imagine the horror of being stopped out by that, with (at the £5 a pip level stated), a margin call asking for £50,000-£60,000!

 

[coolTrader]

It is becuase of this extra service that capital spreads offer that we stick with you.. ie the Customer service is second to none! But... at the end of the day it still boils down to execution..

 

[gullible]

pippin

commodities

just for a change this was nothing to do with us!! The CBOT exchange from where we get many of our commodity prices went down on their satelite feed. For much of Friday we were pricing our Wall Street price off the actual index (for a change) as there were no futures feeds working. I guess that the other SB companies had to do the same. In all the history of CS our worst outage was about 20 minutes it was nice to see that the all powerful CBOT were unable to get their feeds working for 3 whole hours.

Jbat

it should make no difference.

gullible

CS has had 24hr trading on FX for over 3 months. Umm ...aside from volatile periods we seldom reject any trades. You may be reffering to times past when our FX feeds were not as robust as they are now,

Cooltrader

apologies if you have spoken to us.... I dont actually know who you are though!!

It is odd though..... we hardly get any complaints at all...really truly, cross my heart etc etc ..but you seem to have recurring problems. If you would like to come in and sit next to our dealers and then you may be able to reflect on what it is like on the other side of the fence... The offer to any client to come in and see how everything works is still open... Various people have expressed interest but not one has actually followed through and come along.

Regards

Simon

Simon,

Thank you for your reply. I was kind of hoping that one or 2 of your active clients would have also responded.

regards

Gullible

 

[tt600]

Hey i used Simons firm a year or so ago and the customer service was second to none. Also credit to Simon for keeping on posting and answering the same questions time after time - don't see the directors of CMC etc here.

Personally i moved on from SB to DA and use Oanda. If you want a SB firm i tried them all - CS takes somes beating.

Nigel

 

[martin brown]

Hey i used Simons firm a year or so ago and the customer service was second to none. Also credit to Simon for keeping on posting and answering the same questions time after time - don't see the directors of CMC etc here.

Personally i moved on from SB to DA and use Oanda. If you want a SB firm i tried them all - CS takes somes beating.

Nigel

are you suggesting that Oanda is a DMA?

 

[bracke]

brake

We do quote the 'Daily FTSE futures' on a two pip spread and this will always straddle the live market price (otherwise we could be arbitraged against us).

Simon

Simon

Please excuse me pursuing this subject but can you explain the following in view of your answer above.

Yesterday (7th) you show on the daily rolling ftse chart a high of 5865 the liffe future showed a high of 5852 a difference of 13 points. I appreciate that your chart quote is on the bid which should only make a one point difference. Why 13 point difference?


Regards

bracke

 

[Sambar]

Opening Account

Simon
Give me reasons why Ishould open up an account with Capitalspreads instead of Futuresbetting.
I trade mostly cable. Sell your company to me
Thanks
Sam

 

[tt600]

are you suggesting that Oanda is a DMA?

Martin

of course not but they are imo very good - give me a break we can all have typos

 

[Jbat001]

Simon - Thanks for sorting out that ludicrous revaluation on USD/SEK - it was making the charts unreadable!

 

[capitalspreads]

brake

the high print on the rolling FTSE at 5565 was a misprint placed AFTER the futures had closed. FTSE futures close at 17.30 this print was done at 17.57 and was caused by the reboot of our 'Out of Hours' pricing model which had frozen for some reason known only to computers. This quote did not, of course, trigger any stops/new orders etc as it was not a 'tradable price'.

In hours the highest rolling print was 5855 'bid' which would make the mid point 5856, 4 points above the high print of the Futures. 4 points for the cash was the fair value (FV) on the 7th. Today the fair value has increased to 5 points which will probably be the same for the 9th as well.

Sambar

all I can really say is open an account and see how our platform compares. Do like for like trades at the same time and in the same amount and, at the end of say a 2 week period, see which platform performs the better. One of the major differences is the margin requirement on our platform and the ability to make trades of your required size rather than the exchange size.

we have a huge number of clients who have come through from the t2w web site and although (of course) some are unhappy (reading this thread will find a few!) for the vast majority the experience (whilst maybe not profitable) has been fair and above board.

Cheers

Simon

 

[bracke]

bracke

the high print on the rolling FTSE at 5565 was a misprint placed AFTER the futures had closed. FTSE futures close at 17.30 this print was done at 17.57 and was caused by the reboot of our 'Out of Hours' pricing model which had frozen for some reason known only to computers. This quote did not, of course, trigger any stops/new orders etc as it was not a 'tradable price'.

In hours the highest rolling print was 5855 'bid' which would make the mid point 5856, 4 points above the high print of the Futures. 4 points for the cash was the fair value (FV) on the 7th. Today the fair value has increased to 5 points which will probably be the same for the 9th as well.

Cheers

Simon

Simon

Thanks for your reply. But - There's always a but isn't there !

1 Can you provide a little more information on 'fair value' as mentioned above ?

2 Can you confirm that when a trader goes short on a share you have to borrow shares to cover the trade ?

3 I think there is a typo in your reply above, 5565 should be 5865. (just to avoid any confusion)

I much appreciate your time in answering my questions., although some information is in books, much is not.

Regards

bracke

 

[Jbat001]

Simon

Thanks for your reply. But - There's always a but isn't there !

1 Can you provide a little more information on 'fair value' as mentioned above ?

2 Can you confirm that when a trader goes short on a share you have to borrow shares to cover the trade ?

3 I think there is a typo in your reply above, 5565 should be 5865. (just to avoid any confusion)

I much appreciate your time in answering my questions., although some information is in books, much is not.

Regards

bracke

I always thought you used CFD's for hedging client positions?

 

[capitalspreads]

Brake

the 'Fair Value' beloved of SB companies is comprised of two items the 'cost of carry' to the expiry of the futures AND the value of all dividends between now and the Futures expiry expressed in index points. I.e a 3p vodafone dividend may be worth about 4 FTSE points etc.

You can find the theoretical FV on Bloomberg (which is where we generally start from) Type in FV 'go' on a bloomberg terminal and it will give you all the FV of the major indices.

If clients go short then we will sell the real shares (or cfd's) to go short, which means that we then have to 'borrow' them in the market. This is done automatically via our brokers.

Simon

 

[Sambar]

For Simon

Simon
I think I speak for most people on this thread who appreciate you taking the time to come on here and answer some very searching questions.
We all have to realise that Capital spreads have to make money or go out of business just the same as us traders. Could you dispell some rumours I hear about spreadbet companies.
1/ Do you only like to have losing clients, as winning client cost you money, I have been told that you decide when to hedge a clients position is based on stake and if the client wins you would have to pay tax on your hedge thus you end up losing. (Although I would have thought all of this would have been incorparated in your spread).

2/ I understand that you are trying to introduce automatic fill for some markets but could you take me through the procedure at present. Please could you comment on the following example
GBP-USD say currently 1.9050
I plave an order to buy at 1.9080
with an if done OCO to sell at 1.9105 OR 1.9060
say the market starts to rise through the morning to 1.9075 and then suddenly gaps up through my buy order to 1.9092 and then starts to fall back finding support at 1.9070 Would you treat this order the same if whether it be a £5 per pip or £250 per pip

Again appreciate your time on this thread
Thanks
Sam

 

[coolTrader]

Simon,

Your dealers have started playing with my trades! When I execute a trade it is my favour they either choose to ignore it or not execute it. But my trades are being delayed! It has been happening all week. I am sure you have a way generating a report for all trades that were not executed within the time on the ticket and executed after.

I think you need to look into this and let us know.

1. I put trades through the ticket does not come back with just a message that says check your open positions!. I call up and they say oh the trade is there do you want it to still be executed?

2. I execute a trade no error ticket times out as above with Just a message that says check your open positions! I check my open positions and nothing is there. 5mins later the trade appears!

3. I execute a trade and they give price has expired even if it is still at the same price. then

4. I execute a price. If my stop is close by, they delay the trade and execute my stop and say position no longer exists.

5. Stops take ages to execute.

 

[swissgold]

There is nothing new in this bucket shop, yet so many people are talking about it, this is really amazing, proselitism based on pure speculative promises. SB's are becoming increasingly a religion for the loosers. SB's will never give you the edge you need to become a successful trader. My last trade with an SB was with WS, I've made my money with them but they haven't delivered their promises. Honesty is the major problem with these guys, they are trained to lie in such a professsional manner that you won't get anything good in the long term. Simon seems a nice chap, I had the same feeling with Marvin, but you all know what a crap man he is. Do some paper trading and then trade with an SB, if the results are different, then you know what might be wrong with your trading.