Best Thread Capital Spreads

i need 24 hr

I'am a 5min forex trader (beau diamond) there are alot of people from the uk on our 5min4x members forum and we all need 3 things from our broker and we still have not got them:

1.ability to execute 'if done' orders YOU DO

2. competitive spreads YOU DO

3. 24hr trading YOU DON'T

Would you believe we all at 5min4x cannot find an SB firm in the UK that tallies up, we have looked at them all, at the moment we are all with CMC having to place alerts every other minute because can you believe you cannot execute 'if done' orders with them, its shocking.

Basically what i'm saying here SIMON is if you implement 24hr trading asap all 5min4x UK traders will have no reason not to go with you because we have all looked at every possible broker and if you dont get set with 24 hr trading then we are all going to finspreads to get fleeced with 6pip spreads on all the major currencies. I'm just saying that the potential for you here is decent because there are a fair number of us at 5min4x and baring in mind the system quality we are using, i dont think you will have to be making any margin calls anytime soon if you know what i mean. It was just a thought
 
Jyde said:
Huh, contingency orders? Did I miss something, are they there yet, Simon?
Click to expand...


They should do because i emailed capitalspreads about a week ago and asked if there trading platform allows you execute 'if done' (contingency) orders and they replied YES

so i hope i was not misinformed.
 
To Simon of C/S

You offer 5 point spread to trade the Dow future. dialy.Why cant you offer 4 point spread 2 ticks either side of the bid and offer. I think this would be more fair.

What you offer seems odd it works out we would pay 3 ticks on the offer and 2 ticks on the bid. Now if the bid was the last trade you could turn this around and offer the 3 tick spread on the bid and 2 ticks on the offer. so in effect it works out to be 6 point spread.

Now if you offer 4 ticks spread 2 ticks either side of the bid and offer. everyone would agree with me that you cant skew the spread. am I to critical or have nobody else notice.


regards

sun
 
Sun123

A reasonable request but I suspect I am naive when I would suggest why does it have to be 4 points. Why cannot every spread on any instrument be no more than 2 points greater than the true instrument spread. Most futures, certainly the indexes are fixed within certain parameters therefore if the spreadbetting company always positioned the bid/offer at 1 or 2 points greater than the true market they would still make a profit especially when you consider some prices are placed at lower than 1.

I would have thought by now there is software available to place the price a given distance from the real market so it would seem no more than 2 or 3 points is reasonable. The FTSE has a good spread for an index with spreadbetting and CS is one of the leaders having reduced the spread on the rolling cash to 2 points.

Maybe having a 1 point range of profit within the spread offered by spreadbetting companies is not enough room. If 2 points is to tight then at least 3 as this should allow a 1.5 point gap. Of course if the true spread can be 0.5 or lower then the spreadbetters already have a good profit range. If the FTSE can work on 2 and the FX and Dax on 3 why are the US markets not the same rather than the very wide 5. 3 would be reasonable and 2 would be very good IMHO.

Regards

Kevin

ps Simon,

your customer service continues to overwhelm me with its excellence.
 
Et al

Contingency orders are not quite ready yet. I can only apologise if somebody gave out the wrong information to you rover48 ... (it was completely deliberate in a desperate attempt to get your business!)

Dow spreads .. at 5 pips you must remember that the dow is almost 2 1/2 times the size (in price terms) as the ftse (12000 vs 5000) it is also, because there are only 30 stocks involved, much more volatile and the bid/offer size in the e-mini dow market is much smaller. Also I have to say if the price is 10904-10905 in the real market and we did 2 points either side the price would be (taran tara) 10902-10907 5 pips wide. The Dow futures are often not 1 pip wide but 2..3 even 5 . We quote 5 pips no matter what and quote it in £200 a point which is much larger than is generally available in the market.


Kevin ..I will pass on your comments to the customer desk...thks

Pip Pip

Simon
 
Last edited:
Simon

Once again thank you for your explanation. Unless I have misinterpreted your last sentence then it seems unlike you to be sarcastic! No offence meant just an observation.
 
kevin

no i wasnt being sarcastic at all.... I only get sarcastic when people make mind bogglingly stupid comments!!!

Actually we might look at the Rolling Dow spread anyway in the near future as two way business is now getting higher, which means we are less at risk from market moves.

If we change the spread we will no doubt announce it here first.

Simon
 
Simon

My apologies, it is very easy to misinterpret the comments within a post.

Is it possible to set up the trading platform in the future allowing us to have open the auto trade quote windows for different instruments at the same time.
 
capitalspreads said:
Et al

Contingency orders are not quite ready yet. I can only apologise if somebody gave out the wrong information to you rover48 ... (it was completely deliberate in a desperate attempt to get your business!)

Dow spreads .. at 5 pips you must remember that the dow is almost 2 1/2 times the size (in price terms) as the ftse (12000 vs 5000) it is also, because there are only 30 stocks involved, much more volatile and the bid/offer size in the e-mini dow market is much smaller. Also I have to say if the price is 10904-10905 in the real market and we did 2 points either side the price would be (taran tara) 10902-10907 5 pips wide. The Dow futures are often not 1 pip wide but 2..3 even 5 . We quote 5 pips no matter what and quote it in £200 a point which is much larger than is generally available in the market.

Unlike some SB companies (mention no names) at least we were open for the non farm payroll numbers on friday and aside from the usual Forex smash and grab had no problems. I can only recommend that afflicted clients move to a more reliable company !!

On another point....This morning it was nice to receive a whole raft of special (and more to the point, temporary) offers from our competitors on a very limited number of markets.
When on closer inspection I noticed that they were still either worse or in a very few cases the same as us. And this was in their specially selected markets.!!.. all the other (at this point of counting 1600) markets they were still the same wide prices as normal.

Stick with us guys

Kevin ..I will pass on your comments to the customer desk...thks

Pip Pip

Simon
Click to expand...

Hi Simon,

Having opened a CS account recently but as yet not used it I see that the NAS 100 is 2.2 point spread.I would like to see you decrease this spread if possible as it is 3 times smaller than FTSE :)

Go on you know you want to.
Thanks
 
Simon

I have a couple of basic questions which you may regard as mind boggingly stupid, so if you want to go sarcastic, no problem.

1 What is the difference between the Cash Daily and the Future Daily ?

2 The FTSE Rolling Daily appears to offer a tighter spread than the Cash Daily, why ?

3 If going short would it not be preferable to go for the Rolling Daily rather than than the Cash Daily not only because the spread is less but because interest is paid on a short Rolling Daily trade ?

Regards

bracke
 
kevin

that would be a major (for us) upgrade and although it is being addressed it will only be available on the release of our completely new platform which is being developed. A long long way away unfortunately.

Simon
 
Simon

Just a thought and do not wish to appear a nuisance but would it be possible when an order is confirmed within the auto trade screen that the information displayed contain the order price ( buy / sell ) and time obtained. That way you do not then need to go to the Trade history window to confirm these details.

Many thanks

Kevin
 
Simon

Thanks for the reply regarding having access to more than one auto quote window. It would seem in the intermediate term the way round this then would be to operate from 2 accounts until your trading platform can be updated accordingly.

Kevin
 
brake

The cash daily markets are fixed (at the end of the day) against the actual close of the index concerned whereas the Daily Futures are closed at the official settlement of the Futures market on that day.

The reason that we have two markets is that although in general people prefer to trade the Cash market, as that is what most clients are more familiar with, many dealers do not like the uncertainty of the fixing in the auction on the FTSE 100 at the close of business at 16.30. This auction is unpredictable and in the past has occassionally moved the markets significantly. But the Futures close each day at the price traded last at 16.30 which means there is no unpleasant surprise. (or pleasant surprise of course).

The rolling bet has a tighter price because (and here I have to admit this is entirely a CS decision) it is a never ending bet and so the client (you) must trade out of it to close. But the cash bet closes at a fixed point each day..... whereas we have to trade out of our hedge in the Futures market. This means that (horror of horrors) we will lose every time on de-hedging. Or at least the odds are staked against us and we are after all a bookmaker. This is not a problem if we charge a pip on the way in (3 points wide gives us a pip either side of the bid/offer) but does if we only charge 2.

Your third point is correct but does not actually make much difference as you only receive money if you are short overnight ... and you cannot be short of the FTSE cash as it expires at 16.30 and if you trade after this time for the next day we will have amended the Fair Value to take into account the next day.

Hope this is clear as I sometimes confuse myself ..

Simon
 
kevin

sorry , monday morning fever ...can you describe the problem you are having with the order ticket function in a different way as I am struggling to understand.

Simon
 
Simon

Thank you for your explanations. They were very clear and not a hint of sacasm .

Regards

bracke
 
Simon

The auto quote confirmation window is working fine. When an order is placed and subsequently confirmed presently the auto quote window displays a confirmation message of this order. What I was asking for is would it be possible that this message contain details of the type of order placed , ie buy / sell, the price and time executed. At present the confirmation just confirms an order has been placed with a reference number. in order to confirm the above details requires the client to view the trade history where these details are shown. This means changing screens and temporarily the set-up on your screen so that you are not able to monitor the changing price of your new deal, albeit for a short while.

If the information were contained in the auto trade window as I request then there be no need to search for the details elsewhere.

Kevin
 
Simon

Disregard last message it's not you but me who is having a bad Monday. Just tried it on the demp and is fine the only thing missing is the time of the trade but the instrument, price and size of deal are shown.

SORRY.
 
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