Best Thread Capital Spreads

[smallpotatos]

no sharespreads are in dublin ireland so have no FSA approval

www.capitalspreads.com is the url and is working fine here. I have been trading on their simulator site and it really is very good ... i have asked if the main live site will work on the same basis and was told yes (within reason) .
Not only that but they responded to my questions very quickly... which made a nice change.

 

[capitalspreads]

Evening all
I have been invited by one of your contributors (david, I dont know his user name here) to introduce our new SB company to the site as there appears to have been some discussion already and to try to regularly answer some questions that you may have concerning SB policy etc...
Our company is launching next week and can be found on www.capitalspreads.com
I look forward to any comments or suggestions you may have

simon

 

[ian]

OK 'Cap,

There is currently a spread firm (steal4free) that is constantly being critisised on various boards for 'spurious behaviour' when filling orders, by delaying fills, re-quotes , widening spreads etc etc,
How would you convince anybody that your firm would not act in the same fashion?

 

[neil]

Hmmm - the easy questions first huh

 

[Newtron Bomb]

What do you think of the 4-3-4 formation:?:

Seriously though what would you highlight as your unique selling points that would convince me to sign up:?:

What would make someone transfer their existing account to you:?:

What services are you offering that others aren't :?:
eg cantor have launched a pda access with O2, will you be keeping up with the jones?

The services that are provided by other co.s how will they compare against your version:?:

How would you describe your expected back office efficiency without having a track record:?:

How would you describe the online platform reliability without having a track record:?:

Please explain how you will be handling re-quotes and order confirmation times:?:

 

[ian]

Looks like Cap spread guy has f****d off, or maybe he has decided to phone a friend for the answers!

(leave it alone!)

 

[ChartMan]

Tell you what, give me a complimentary 100 quid to trade with....... and I'll be a Guinea Pig for a week....

 

[smallfry]

This Mr Rowe that is connected with CapitalSpreads, does he have any initials? I seem to recall a client called Rowe who worked for Garban some time back. I wouldn't recommend to this representative that he starts trying to answer questions on boards like this. I know from my own experience that you never win, because some idiot will always think they know more than you. Actually, Simon (this is going to be complicated), you shouldn't answer any questions which are related to the way in which you conduct your business, otherwise you could jeopardise your complaints procedures, however I hope you know that. That's one of the reasons why I had to stop posting over on Advfn, that and the launch of a certain better competitor site...

Simon
Auckland, NZ

 

[smallfry]

Actually Mr CapitalSpreads, if you do see these messages, I can tell you your problem: I'm sitting behind an ISA Firewall, and this is blocking your site. Over at Fins we used to have this problem where offices like HSBC would block certain content. However, mine is a pretty bog-standard set-up, and it allows me to access IG and City for example. Right now though, www.finspreads.com is coming back as not found at all !! Have they disappeared? www.finspreads.it doesn't work either....

 

[Skimbleshanks]

Both those Finspreads URLs are working for me.

 

[orchard]

For goodness sake Newtron Bomb, give the guys a chance. There has been a number of posts on this board bemoaning the fact that there was not enough competition in the SB world.

Their simulated account is far far better than the others giving much more choice of markets and allowing stops etc.

Perfection is not really an option no matter who you deal with. The cyber world can be too fickle for that (as can computers sometimes). So why don't we all wait and see what happens instead of castigating them before the've begun.

 

[peto]

I thought Newtron Bombs q's were well considered! Although waiting 19hours and counting for CP's reply is worrying. As are their spreads (10points on dec dow and f/x)

 

[darrren]

Smallfry

I'm confused by your post.

My reading of it is that you do (or did) work for a spread betting company and you are advising Capitalspreads not to answer our questions as it may jeopardise him.

If we ask reasonable questions and he gives honest and truthful answers then the only way he will jeopardise himself is if his services/spreads etc don't match up to his competitors.

If he has a service to better his competitors then he should be happy to answer our questions. You would have to agree - yes?

Therefore, exactly why are you advising him not to answer our questions?

If I have mis understood your posts, I apologise and would be pleased to hear what you actually meant.

 

[Skimbleshanks]

darren - I believe the problem with Capitalspreads posting on these BBs is in the matter of compliance. Perhaps he has checked with his Compliance Officer and realised that he should not have posted.

 

[darrren]

Skim

You may well be right, but I would be surprised.

Answering general questions is not against any compliance requirements and selling themselves to potential clients (which is what we are), is the normal advertising of their service that companies regulated by the FSA are allowed to do on a daily basis.

I will be interested to see Smallfrys' reply.

Also, if compliance is the reason, we can expect Capitalspreads to post us about this.

 

[smallfry]

Yes compliance is the problem. Since the rules changed about 18 months ago, where firms had to have a documented and approved complaints handling procedure in place, this made it virtually impossible to react and respond on bulletin boards. I would recommend that one of the first things you do if looking to open an acount with a SB firm would be to request a written copy of their complaints handling procedures which they are obliged to supply you with.

Finspreads were not exactly happy that I made a number of complaints about their handling of my account which I used in the last few months of my contact with them. In fact, they closed down my account for making too many complaints - 3 strikes and you're out basically. Pity that all of my gripes were legitimate at the time, and they knew it.

 

[rglenn]

I am beginning to notice that there seem to be complaints and disappointments about most SB firms on T2W.

I think it is wise if we all try these companies out for ourselves and then make our own minds up otherwise there won't be any companies for spread bettors to use if we follow every individual comments made!

 

[orchard]

How I agree with you Rglenn, you said my thoughts in a nutshell.

The very nature of SB cos invites complaints.

My slant on the matter is not that there is a complaint, but how it is handled. For instance - I complained about not being able to get into MM with D4F, giving them all the info necessary. The reply was a standard 'correction' which did nothing to to get me into MM. OK, their problem. They won't be sorry to lose me, I am a very, very small minion, but didn't like being ignored (who does?)

A new company will, at least for the first few months, be more likely to handle complaints in a proper manner, lets make the most of it :cheesy:

 

[capitalspreads]

Errr wow !

I was warned that there may be some comeuppance about trying to comment on these sites but some of the comments seem a little silly.

I would love to spend my w/e logged on to a chat line but I am sure that my wife would have something to say about it.
If a comment is made late on a friday night it should not be surprising that the response is somewhat delayed.

When I said that I would try to answer questions, it was more in the general nature of spread betting. As some of your contributors have commented we cannot go into details about specific complaints etc on line, the FSA is very tight on certain procedures. What I am allowed to do is make statements of fact, what I am not allowed to do is make statements of conjecture or unfounded comparisons.

The questions concerning our back office procedures and Web site reliability are not really something that I can comment on until they have been up and running for a few months. The proof of the pudding etc...

Our spreads though... the Dec Wall Street is quoted 10 wide, daily is quoted 6 wide ... this compares favorably with all the SB companies. The FX .. the forward FX i.e the quarterly prices are 10 wide ( the other SBs are anywhere from 14 to 40 !! ) our daily FX prices are 4 to 5 wide.

We do not make requotes, a deal is either done or not. (As in the real market) We are not looking for the really big punters, at least not yet, so our maximum size in the various markets should be enough to allow nearly all trades to just go straight through.

But customers must realise that if you make a trade at one thirty in the afternoon just after a Non Farn Payrolls number from the States the chances are that by the time we have received the price from Chicago / put it through our price engine / shoved it out onto the web / you, our client, see it and respond and deal on it..... etc the market could be twenty or thirty points away. In reality you could not get the deal away in the real futures market so why would you expect to get it away in the SB market?

Our entire platform requires no downloads of any kind so as long as your firewall lets us in then you should have no problem dealing on our system.

It is easy to say that we will handle all complaints as sypathetically as possible but no matter how 'fair' we think we are being, in a dispute situation, everybody thinks that they are the ones in the right. Which means that any form of compromise becomes very difficult. Still I will re-emphasise that I hope we will be as 'fair' and 'reasonable' as we can.

Simon

 

[Airthrey Capital]

Simon,

When do you expect to go "Live" and fully operational?