Best Thread Capital Spreads

[ceydababy]

Maybe this will get them to address problems with the site. I too jumped ship a couple of weeks. I closed my position using the close button only to discover they not only close short but simultaneously opened a long. The FTSE was in freefall and within 5mins I was down almost 30 points.

emess

Another one of the problems I found with them. If you have 2 positions, close out 1 at a designated level and then use the close position button. They close out the FULL ORIGINAL POSITION leaving you a position open against you. When I spoke to them about this at the beginning of the year, it was a bug they were aware of and were working on ! I started closing manually from that point on, not "trusting" the close positon button. Amazingly the problem was still active 2 weeks back......

I would highly recommend IG, I haven't noticed the 2 point spread on FTSE at all, fills are LIGHTNING, everyting is operated from one screen, none of this clicking order book to adjust stop levels, just a pain in the backside. You can also enter your stop on the deal ticket.

Charts are UNBELIEVABLE, Margin requirements SMALL. Just £36 to trade £1 of the Dow with a 20 point stop !! I beleive it is about £15 to trade £1 of the FTSE with a 10 point stop.

Having spent 2 days activley using IG, I would honestly recommend them to anyone. I guess I will post on the IG thread if I have any problems. But It is nice to have a platform that you feel you can rely on.

Full marks to IG !! I really never realised how different it would be !! Having closed my CS account mid January only to reopen within a few hours for the 1 point FTSE spread ! I'm now firmly in the IG camp ! No looking back to CS now

 

[RichieE]

Would anyone from Capital Spreads care to reply to all this?

 

[ceydababy]

Would anyone from Capital Spreads care to reply to all this?

No disrespect to Simon from CS, but with all the crap flying around about CS at the moment I'm not suprised he has not put in an appearance !!

 

[RichieE]

No disrespect to Simon from CS, but with all the crap flying around about CS at the moment I'm not suprised he has not put in an appearance !!

That's true, however this is how chance to reply and tell us all when (and if) these issues are going to be addressed. How about showing this thread to Capital Spreads CEO/MD? I'm sure that they would be interested to know what their clients think of them.

 

[ceydababy]

That's true, however this is how chance to reply and tell us all when (and if) these issues are going to be addressed. How about showing this thread to Capital Spreads CEO/MD? I'm sure that they would be interested to know what their clients think of them.

I believe Simon is the MD of capital spreads. I think there is a fair bit of Sinicism on Capital Spreads part that these problems are Exaggerated some what. Part of the reason I left.

In their defense I think Simon is the only MD of any spread bet company that does come on to a board like this and face the music.

 

[gle101]

CS improving?

Very little feed back on this thread about where CS stand right now. It is important to know if CS is by overall improving their service or not. I have noticed a definitive difference to the better, in the way they execute since 2 weeks back, what about you guys?

 

[PipStar]

I have noticed quite substantial slippage with CS for some time now. Especially in fast moving markets. Has this been experienced by others?

 

[gle101]

I have noticed quite substantial slippage with CS for some time now. Especially in fast moving markets. Has this been experienced by others?

No problem on my side. There might be some slippage during news releases, especially on FX. What about execution, how do you experience it, fast or slow?

 

[PipStar]

No problem on my side. There might be some slippage during news releases, especially on FX. What about execution, how do you experience it, fast or slow?

Slippage of 10-20 pips in FX if you happen to have an order at news time. Execution is slow; it takes sometimes more than a minute to see your order in the open positions window. These issues are quite recent, say 2-3 months. It's a shame, CS used to be much better than that.

 

[gle101]

Slippage of 10-20 pips in FX if you happen to have an order at news time. Execution is slow; it takes sometimes more than a minute to see your order in the open positions window. These issues are quite recent, say 2-3 months. It's a shame, CS used to be much better than that.

And this has happened to you in the past week? I myself do not trade FX with CS anymore.

 

[PipStar]

And this has happened to you in the past week? I myself do not trade FX with CS anymore.

Slippage of this magnitude is new; may be a few weeks.

 

[davecrom01]

There did seem to be a few things out of the usual happening before I left.

Back in this thread somewhere, Simon mentioned that we may find it suprising, but that Market Orders were processed before orders to stop you into the market at a pre-specified price.

After having several market orders rejected to exit a trade at a profit, I found that my stop was hit and that took me out (for +1 pips). When I called to ask about this I was told that "market orders can be rejected whilst we are busy dealing with the outstanding limits and stops that are already on the books."

I'm glad for those still with CS if the execution is improving - but if slippage is now working its way into the loop then I'm not going to be returning any time soon.

Cheers all,
Dave

 

[gle101]

There did seem to be a few things out of the usual happening before I left.

Back in this thread somewhere, Simon mentioned that we may find it suprising, but that Market Orders were processed before orders to stop you into the market at a pre-specified price.

After having several market orders rejected to exit a trade at a profit, I found that my stop was hit and that took me out (for +1 pips). When I called to ask about this I was told that "market orders can be rejected whilst we are busy dealing with the outstanding limits and stops that are already on the books."

I'm glad for those still with CS if the execution is improving - but if slippage is now working its way into the loop then I'm not going to be returning any time soon.

Cheers all,
Dave

Well slippage one has to take in account during news releases, of course it has to be within reasonable numbers.

 

[PipStar]

There did seem to be a few things out of the usual happening before I left.
After having several market orders rejected to exit a trade at a profit, I found that my stop was hit and that took me out (for +1 pips). When I called to ask about this I was told that "market orders can be rejected whilst we are busy dealing with the outstanding limits and stops that are already on the books."
Dave

Although I cannot be sure yet, I just wonder whether all this is not due to being put on dealer intervention.

 

[davecrom01]

Although I cannot be sure yet, I just wonder whether all this is not due to being put on dealer intervention.

Well, I was told some time ago by one of the women who answer the phones that CS do not have dealer intervention. I think Simon has contradicted that, by saying it exists but not on a per client basis, and that it depends on the size of the trade being taken. Around £10 per pip seems to be a common thought in here - although over the last few months I've had problems from anywhere between £5 and £40 per pip.

I left GAIN Capital a year or so ago and switched my main account to EFX. Looking back dispassionately, it was just a bad run for me, my fault entirely, and GAIN had nothing to do with it.

However, I have said it before, if you feel uneasy with any broker - even if it turns out to be totally unfounded - it is playing on your mind. In which case, leave trading alone for a few days - go and drink beer, or fish, or run, or do whatever you like to do. Think about it for a while, and if you still feel the same then you are better off switching.

This game is hard enough without having to deal with excess worry.

Cheers,
Dave

 

[gle101]

Holiday

I wonder, is Simon on a holiday. again? Just joking Simon, take it easy, but it would be fun to have you on this board again.

 

[capitalspreads]

Hi guys

I seem to have been off line for some time. We have been upgrading performance throughout the site (which some of you were kind enough to point out) as large archive data was removed to seperate servers. This has improved delivery times on trades to a great degree.

This is a temporary upgrade to the systems as our new platforms will be delivered in Q2 (fingerscrossed). Obviously when development is commissioned well in advance you have to go on what is happening at the time and on what is forecast to hapen in the future. Unfortunately we did not expect the huge upsurge in trading volumes and client acquisition that occured because of the market volatility increases since the sub prime problems arose last summer. Our upgrades were designed to be rolled out as our old systems became more heavily loaded.

Unfortunately, again, we have had to spend considerable sums upgrading our existing platfrm to take account of the unforeseen blip in loading. The first part of this was put online two weeks ago and further upgrades will be evident in the coming weeks on trade acceptance times, order fills, price action etc .

Slips on FX fills over data releases are an ever present problem if you place close orders over volatile times. No matter what level ours (or any one else's) systems get to this will not change.. sorry. But if you want to talk about any individual event then the dealers will be happy (!) to check it out to make sure we have not erred.

We do not have dealer intervention in normal circumstances but as I have indicated on this thread certain clients get put on dealer acceptance and over data releases certain markets are turned to dealer acceptance

Simon

 

[PipStar]

Slips on FX fills over data releases are an ever present problem if you place close orders over volatile times. No matter what level ours (or any one else's) systems get to this will not change.. sorry. But if you want to talk about any individual event then the dealers will be happy (!) to check it out to make sure we have not erred.
We do not have dealer intervention in normal circumstances but as I have indicated on this thread certain clients get put on dealer acceptance and over data releases certain markets are turned to dealer acceptance
Simon

Thank you for the clarification.
I have personally seen a 52 pip slippage on an FX order which I have to admit was at a volatile time. I think that if you cant fill at the order price or with a small slippage, then you should not fill at all. 52 pips slippage i would class as huge slippage. On this occasion, the trade was closed without too much damage but since I have the impression that CS wants to be seen as being fair, I dont think that this example here is good practice. And the outcome for client could well have been much worse. I think that there is starting to be reason to have a rethink about CS. A few things are getting in the mix that are starting to worry me.

 

[ns1000]

Thank you for the clarification.
I have personally seen a 52 pip slippage on an FX order which I have to admit was at a volatile time. I think that if you cant fill at the order price or with a small slippage, then you should not fill at all. 52 pips slippage i would class as huge slippage. On this occasion, the trade was closed without too much damage but since I have the impression that CS wants to be seen as being fair, I dont think that this example here is good practice. And the outcome for client could well have been much worse. I think that there is starting to be reason to have a rethink about CS. A few things are getting in the mix that are starting to worry me.

Nature of stop or limit order if that even if slippage is 52 pips it has to be executed. What if market then goes 152 offside? You're implying that the broker should give you a free look back (if it goes further against me, I want the trade, if it goes in my favour I shouldn't have been filled). Maybe you're after a broker who supports stop limits (fill my stop, but no worse than x points away, or don't fill it).

 

[PipStar]

Nature of stop or limit order if that even if slippage is 52 pips it has to be executed. What if market then goes 152 offside? You're implying that the broker should give you a free look back (if it goes further against me, I want the trade, if it goes in my favour I shouldn't have been filled). Maybe you're after a broker who supports stop limits (fill my stop, but no worse than x points away, or don't fill it).

You're right. I think it's called fill or kill. But the trade was held up for about a minute before it was filled so obviously CS was having a 'look back' before it was filled. Anyway lesson learned. This type of delay in execution and not knowing whether you've been filled; not seeing the trade in open positions for another minute; this is all too much.