Best Thread Capital Spreads
It appears that Capital Sprreads is a normal run of the mill bookmaker. Elsewhere, their MD / CEO is on record saying (in a question as to how do they make their money?) 'the answer is in the title, we make money from the spreads', Edster you are quite right he is on reocord saying 'we love winners'.
Punters be warned, once established I can see a clone of Deal4Free emerging.
Punters be warned, once established I can see a clone of Deal4Free emerging.
re
we obviously dont just give money away and if we spot a client who is taking the mickey on a regular basis we may ask him/her to take their business elsewhere or just delay all his/her trades until we can be sure of the price
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I was shocked by this statement,maybe CS true light is starting to emerge ?I thought we had found a fair spread company who would give us a fair deal in trading but this goes to show that it's just another bookmaker that is a wolf in sheeps clothing ready to take away any edge that you develop in trading away from you.I will keep on trading with CS but only on a limited basis from now on.Direct access is the only way to go for intraday trading,can't see any point really in intraday spreadbetting if the odds can be manipulated against you.
we obviously dont just give money away and if we spot a client who is taking the mickey on a regular basis we may ask him/her to take their business elsewhere or just delay all his/her trades until we can be sure of the price
.
I was shocked by this statement,maybe CS true light is starting to emerge ?I thought we had found a fair spread company who would give us a fair deal in trading but this goes to show that it's just another bookmaker that is a wolf in sheeps clothing ready to take away any edge that you develop in trading away from you.I will keep on trading with CS but only on a limited basis from now on.Direct access is the only way to go for intraday trading,can't see any point really in intraday spreadbetting if the odds can be manipulated against you.
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llew,
Fully agreed. Giving money away? balderdash, they invite a punter to place a bet on a given set of prices, the punter gets a lucky and CS say they are giving money away? What about the spread?
Will CS give a special X-Mas gift of ££££ notes to their most beloved punter - consistent losers?
Fully agreed. Giving money away? balderdash, they invite a punter to place a bet on a given set of prices, the punter gets a lucky and CS say they are giving money away? What about the spread?
Will CS give a special X-Mas gift of ££££ notes to their most beloved punter - consistent losers?
Spreadbetteur
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Simon
Re this quote from your post above:
"depends what is meant by scalping.
we obviously dont just give money away and if we spot a client who is taking the mickey on a regular basis we may ask him/her to take their business elsewhere or just delay all his/her trades until we can be sure of the price. "
What do you mean by 'Delay his or her trades" ?
The client surely should be able to enter a trade and cancel it up to the point that you either approve or reject it. I trust by your statement you do not mean that after the client enters the trade you hold approval (cleint cannot cancel during this period) until you decide on price. Please clarify thanks.
Re this quote from your post above:
"depends what is meant by scalping.
we obviously dont just give money away and if we spot a client who is taking the mickey on a regular basis we may ask him/her to take their business elsewhere or just delay all his/her trades until we can be sure of the price. "
What do you mean by 'Delay his or her trades" ?
The client surely should be able to enter a trade and cancel it up to the point that you either approve or reject it. I trust by your statement you do not mean that after the client enters the trade you hold approval (cleint cannot cancel during this period) until you decide on price. Please clarify thanks.
This thread has certainly taken a turn since I last visited. Before jumping ship due to prices I would wait until your success reaches a level where you see confirmation that Capital Spreads are restricting your trades.
At present it seems to me that people are still in the 'what if stage' so if CS are providing you with the goods why not just concentrate on the present. If you find that CS are not treating you as you had wished then of course you must look elsewhere and that would be where Direct Access comes in. But until that actually happens (and I am not saying that it will but it does seem to with other spreadbetting firms) then give CS a chance. You are always free to take your business elsewhere.
Have a good Christmas
Kevin
At present it seems to me that people are still in the 'what if stage' so if CS are providing you with the goods why not just concentrate on the present. If you find that CS are not treating you as you had wished then of course you must look elsewhere and that would be where Direct Access comes in. But until that actually happens (and I am not saying that it will but it does seem to with other spreadbetting firms) then give CS a chance. You are always free to take your business elsewhere.
Have a good Christmas
Kevin
The CEO/MD of CS is now on record saying that CS will ban consistent winners or make the punters life very difficult. At the receiving end I know exactly how a punter would feel. I for one am glad that I did not switch my business to CS. Better the devil you know and hate than the one you do not and may be you might just love them.
What on earth do you think the following means then?Roberto said:
To me that is an outrageous statement to make and a good reason for sensible people to treat this outfit as though it carries the plague. The silence of the company representative who dropped this b*ll*ck is deafening.
I think perhaps you might be looking at it out of context, then. I took it as meaning "although we know we have the best possible reputation for customer service at the moment, there's a limit to how much we'll stand for if people come along with the intention of taking the p!ss". In fact I'm putting it very mildly: I think it's really clear that that was all he meant.LevII said:
That "company representative" was their MD, actually. And if you look carefully he more or less said that he wouldn't be around until after Christmas. But don't let a little thing like that inhibit your sensationalist point-making.LevII said:
All I was pointing out what was that what gullible "quoted" was not actually what the guy said at all!
Enough arguing, for God's sake. Relax. Everyone is entitled to their point of view, and not to be so blatantly misquoted!
tradesmart
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I’m sure that Simon was just a bit merry after the CS Xmas bash to have written this, and will smooth things over shortly……..he's very 'user friendly' normally......
But just don’t take the Mickey (or the money…!) ……Alright…….?....
I became a customer of CS mainly because I was impressed by Simon's efforts in posting on T2W. He has been willing to answer questions and has given the impression that CS is a "straight" company that does not skew the odds against the punters. I have had no problems with CS since becoming a customer.
However, Simon's comment that I have pasted above has left me feeling very uncomfortable. I suspect that he hasn't quite said what he actually meant to say. But in any case, I think he should explain himself or expect his customers and potential customers to respond with their feet.
I'm sure that's right, and I'm sure he will.ivorm said:
But to state that he's on the record as threatening to make people's lives very difficult, and to criticise him for disappearing when he's already said he was going off for Christmas is really taking it a bit far, don't you think?
Roberto,
I am sorry I got it wrong. Having given it further thought I agree I misinterpret CS'S statement. The proper interpretation follows:-
we obviously dont just give money away and if we spot a client who is taking the mickey on a regular basis we may ask him/her to take their business elsewhere
= we will be very civil and pleasant to clients who outsmart us that we may just show them the door. Unless we are taking money from him/her on a regular basis.
just delay all his/her trades until we can be sure of the price.
= if he or she decides to place a trade on the prices appearing on our screen, we will make him wait, wait and only offer hin/her the price if it is in our favour. Patience is a virtue and it is good for our clients to wait and wait; you see their trading life will be very smooth and successful if they can only learn to wait.
I do apologise for the not interpreting CS's statement properly.
kindest regards
have a very merry christmas and a prospeous new year
I am sorry I got it wrong. Having given it further thought I agree I misinterpret CS'S statement. The proper interpretation follows:-
we obviously dont just give money away and if we spot a client who is taking the mickey on a regular basis we may ask him/her to take their business elsewhere
= we will be very civil and pleasant to clients who outsmart us that we may just show them the door. Unless we are taking money from him/her on a regular basis.
just delay all his/her trades until we can be sure of the price.
= if he or she decides to place a trade on the prices appearing on our screen, we will make him wait, wait and only offer hin/her the price if it is in our favour. Patience is a virtue and it is good for our clients to wait and wait; you see their trading life will be very smooth and successful if they can only learn to wait.
I do apologise for the not interpreting CS's statement properly.
kindest regards
have a very merry christmas and a prospeous new year
Spreadbetteur
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Lets remember Capital Spreads are a bookmaker.
They have the right not to accept a bet.
Though until they accept, the customer should be able to cancel it.
It cannot be that you make a bet then Capital Spreads, put it in suspense to "check the price is right". I trust Simon with clarify this point.
What that means to me is if the price goes against you, your trade is entered. If it goes for you it is rejected. This somewhat enlarges the spread.
Would love to hear BBB"s opinion on this, though it seem he frightened a few lightweights, who are probably better off sticking to their day job, and has been sent to the sin bin !
They have the right not to accept a bet.
Though until they accept, the customer should be able to cancel it.
It cannot be that you make a bet then Capital Spreads, put it in suspense to "check the price is right". I trust Simon with clarify this point.
What that means to me is if the price goes against you, your trade is entered. If it goes for you it is rejected. This somewhat enlarges the spread.
Would love to hear BBB"s opinion on this, though it seem he frightened a few lightweights, who are probably better off sticking to their day job, and has been sent to the sin bin !
You'd expressly love to hear the opinion of someone who says he's never made a spread-bet in his life? Call me cynical, but might that be because you already have a firm view of your own and you imagine that someone with absolutely no experience at all is more likely to agree with you?Spreadbetteur said:
The spread bet company quotes the shares of XYZ at 333 - 334; I have noticed that they are in the market at 335 - 336, I buy at £10pp in the knowledge that all things being equal, they will adjust the price to the market price; 30 seconds later, they do and I close my position for a profit of £10. That will do nicely thank you.
A couple of hours later, ABC shares are quoted at 123.25 - 123.5 but in the market they are already at 122 - 122.5, so I sell at 123.25p and later on close the position when the spread bet company adjust their price.
Think again if you think this is far fetched, and there are those that scour the markets looking for opportunities like these to arise. This is what Simon referred to and one cannot blame him for feeling that they can do without such customers.
A couple of hours later, ABC shares are quoted at 123.25 - 123.5 but in the market they are already at 122 - 122.5, so I sell at 123.25p and later on close the position when the spread bet company adjust their price.
Think again if you think this is far fetched, and there are those that scour the markets looking for opportunities like these to arise. This is what Simon referred to and one cannot blame him for feeling that they can do without such customers.
tradesmart
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This is a complete eye-opener to me......!.......all those £10's the lucky blighters must be having - if I was Simon I'd be livid with such "mickey takers".........
Let's not start getting paranoid, since as far as I'm aware, CS haven't done anything wrong.
I already mentioned how they allowed me to roll-over my December Nikkei contract into the March contract, after it expired at a loss. I have since closed the position for a 200+ point gain. That doesn't suggest a company that is out to shaft it's customers at any cost.
In any case they will have more than enough losers to make up for the odd "star" trader that might be consistently cleaning up.
So far , I've got no serious complaints.
I already mentioned how they allowed me to roll-over my December Nikkei contract into the March contract, after it expired at a loss. I have since closed the position for a 200+ point gain. That doesn't suggest a company that is out to shaft it's customers at any cost.
In any case they will have more than enough losers to make up for the odd "star" trader that might be consistently cleaning up.
So far , I've got no serious complaints.
