Best Thread Capital Spreads

[coolTrader]

Problems with FX feed

as clients have been saying we are having problems with FX feeds at the moment .. this is frustrating not just for you but for us as well... as other clietns have pointed out there is no problem on other markets just FX...

we are working on it but everybody always says how easy it is ... well i can tell you that it isnt , everything takes time to build and change etc etc

I am sorry but we are very very busy this week and I am out of the office all week the replies will be further apart as a result.. this is not becus I am dodging the threads


simon

As usual Simon Does his PR well. Which as I say I will be waiting for the transformation of the system . As he takes time to respond to our queries

 

[alf25]

re: microsoft

I must say on Simon defence that there is small amount of SB companies or brokers firms who so responds to clients qwerys. i think that they do a lots of work when you compare to other companies which are longer in market. every company has some weaknessess also IB, finspreads, cmc.
on the other side such clients like you and competition helps quickly improve servicies.

 

[abobtrader]

I must say on Simon defence that there is small amount of SB companies or brokers firms who so responds to clients qwerys. i think that they do a lots of work when you compare to other companies which are longer in market. every company has some weaknessess also IB, finspreads, cmc.
on the other side such clients like you and competition helps quickly improve servicies.

I agree with alf25. In all fairness, I know there has been a lot of legitimate CS bashing, but I must say there service is generally pretty good (in my opinion). I just hope Simon does deliver on the speedier execution. I have accounts with other brokers and can leave them in the flick of a switch, but so far I am still with CS for most trades. I think their current problems will be a major hinderance to particular trading styles (the higher volumer clients!), so its in their interest to fix issues and avoid desertion.

 

[abobtrader]

Hi Simon, here is the question I asked earlier.

Thanks.

Just realised I had one last question:

earlier you said:

"We try to get the trades and orders away as fast as possible but (and its a big but) there is a small delay on confirms. We try to be reasonable about it and my instructions to the dealers is to allow trades through so long as the trade is not too out of line. "

is it possible to clarify was it 'too out of line', does it relate to size or filling away from the current spot, or both? if it relates to size is there a particular size in FX I should be aware of that may reduce the probability of my order going through in fast-ish mkt conditions, or are all orders - £150 a point and £1 a point - treated equally?

 

[Spreadbetteur]

Simon

Great to see you are well and back posting but.............................Please could you confirm what is happening with the delayed execution, filtered fills, 'Price Expired' ticket issue. I am and I am sure all others, are hoping for a comment of confirmation that you are planning to bring this issue back in line with the bench mark set by CMC Deal4Free, Finspreads and the popular Retail Brokers.

Is this linked to the price feed issues you have ?

You have great software, though with this current issue of speed and selective fills, it just makes no sense to trade through you, when the other popular companies all offer, more or less, WUSIWUG with extremely few requotes.

A direct response would be appreciated.

Have a good week.

Microsoft

 

[Spreadbetteur]

I would happily give up the interaction with Capital Spreads here for a reasonable, in line with competition benchmark, execution speed together with unfiltering of fills. I am more interested in a fair execution service than a polite email exchange.

I agree that having a company person interact here is good customer service and PR for the company. It is a shame that the other brokers cannot be encouraged to do the same.

I must say on Simon defence that there is small amount of SB companies or brokers firms who so responds to clients qwerys. i think that they do a lots of work when you compare to other companies which are longer in market. every company has some weaknessess also IB, finspreads, cmc.
on the other side such clients like you and competition helps quickly improve servicies.

 

[Jbat001]

The first thing I noticed is the lack of a daily ARM bet! I've traded the shares and would have really loved the chance to play it as an SB instead - it's classic swing trade material.


As you can see, I'm a total T2W (though not SB) newbie, so just wanted to say what a great site you have here - informative, intelligent and brilliantly satirical at times!

 

[fhb22266]

Hi Simon,

you've probably been asked this before but...

What chance is there that Capitalspreads will offer 24 hour trading (Mon - Fri)? I would like to trade more Forex and sometimes major moves happen between the hours of 21:00 and 07:00. I'm not likely to stay up all night watching the currencies but would like the option of being able to enter a trade at midnight and sleep sound in the knowledge that my stop order should be filled if it goes against me in the wee hours. I see that IG boasts 24 hour trading.

FB

 

[Spreadbetteur]

yeh, it would be good to get a direct response to this, from simon, so we can get a likely time period when this is going to be sorted out. It cannot be ignored.

I would happily give up the interaction with Capital Spreads here for a reasonable, in line with competition benchmark, execution speed together with unfiltering of fills. I am more interested in a fair execution service than a polite email exchange.

I agree that having a company person interact here is good customer service and PR for the company. It is a shame that the other brokers cannot be encouraged to do the same.

 

[Spreadbetteur]

This week so far with CMC:

37 Entry Tades on main FX pairs. Trading exactly the same trading system as always. Mixture of bounces and break outs.

No requotes. Filled each time.

37 Entry Trades

5 Entry Trades were longer than 5ish seconds did not exceed 10ish seconds.

+ 151 Pips Total Profit = 4.08 Pips per Entry Trade

With Capital Spreads based on recent performance, I could expect 8 from 37 trades not to be filled. These would likley be the ones that had moved a pip or 2 in my favour during the delays. So a conservative estimate is 32.64 (8 x 4.08) gained by trading with CMC over Capital Spreads. Probably more as the non filled trades would have a heavy slant in Capital Spreads favour.

I did not check exits though, noticed nothing over the usual 3/5 secs confirmation.

All stops / orders honoured exactly.

So the question is - Why have we all being even bothering to discuss the Capital Spreads problems, in the regard ? Why even hope they sort it out ?

Also 24/7 at CMC.

Their staff / Customer Service at CMC are rude and misrable, though if I want a nice feel good chat, I can go down the pub for a drink or four. I would prefer to deal with the rudnessness, though know I have a very good chance of getting fairly filled each time I trade. Rather than an Capital Spreads were everyone is friendly though you had to deal with these terrible confimration times and often not even get filled at all.

What would you prefer to trade on Euro ?:

a) 2 Pip Spread - Delayed execution and filtering based on price 15 secs later or

b) 3 Pip Spread with instant execution

Bye Bye Simon. Bye Bye Capital Spreads. Forever. RIP.

 

[capitalspreads]

As I have said quite a few times we are having a problem with the FX feeds. We are in the process of correcting this but as I have said it takes time.

On all other markets the clients get filled nearly every time. For FX trading if pip hunting is your thing then regretably at the moment I would suggest that you trade in the meantime with a competitor. A very unfortunate line for me to take but ... I fully expect us to be up and in line with the competitirs in the nearish future.

abobtrader

the answer is that normally different sizes are treated equally . cmc also have a policy of allowing trades up to a certain size straight through but larger one require a dealer input.

in the same way that on the exchanges if you ring your broker and ask the price in a FTSE stock ...in small size he would probably just fill you on the SETS/market maker quote but on larger size he would look to work it before filling.

we do not work on massive margins (our spreads are pretty tight) so if we are handed a grand loss on an 'out' trade, that will significantly affect the P/L.

Simon

 

[Spreadbetteur]

I think you are correct. Best not to get pxssed off. Just move in. I sense a lack of response from Capital on this issue, sounds like they cannot and do not need to be bothered, as they are doing very well financially by delaying confirmations and the resulting no fills or price expiry as they call it. It's a shame as the software platform is good.

 

[momtic]

Hello Simon

I am new on these boards. I see you are having problems on you FX quotes, that is a shame. but once you sort this out. I will trade with you, on the EUR/USD 2 pip spread. I think this 2 pip spread will make you the leader in the UK on FX trading. But Until you fix the problem what others have said on this thread I will hold back, keep us up to date on the progress on FX trading

Thanks

 

[Spreadbetteur]

Simon

What has it got to do with 'Pip Hunting' ? It's like the paino tuner telling the piano player it is out of tune because he plays The Rolling Stones and not Vera Lynn.

A client deserves and expects the right to receive a reasonable fair service, whatever their trading style.

My definition of fair, is that service is at least in line or better than the competitors are offering.

I don't think anyone should trade FX with you, Pip Hunter or not, until you sort your shop out and annouce it clearly and loudly.

There is no point in sorting your FX feed out, if it does not result in immediate execution and the stopping of your rejecting trades policy.

See the post from Direct Access above.

Spreadbetteur.

 

[momtic]

Agree spreadbetteur

I am short term trader so every pip counts.I don't hunt for pips if C/S get out of line.sometimes I may get 1 pip in my, favour other times C/S will get 1 pip in their favour.If I do get 1 pip in my favour,C/S should take it on the chin, like I do, when I get 1 pip against me in C/S favour.

I must say I have been trading small today only 1 and 2 pound a point. and the fills have been all good. done 10 trades. to see how the fills are.I hope this will be the same when I trade 10 quid a pip.

 

[Spreadbetteur]

Montic
momtic

In the later case you have no choice as you will always get filled (100%) with Capital if the price moves against you !

The initial blame was the Internet, now it seems to be 'Pip Hunting' !

Check out CMC for instant executions and no monkey business re fills.

Spreadbetteur

 

[Spreadbetteur]

I should add to my results at CMC posted earlier that I am trading at between 40 and 70 quid a pip. I am not sure where their non automation kicks in, which Simon brings up, though I would imagine it is below this level.

If you are an Internet betting site and quoting so clients can trade on line, you should always execute the price you offer, with very few exceptions. The other companies all do this.

Can you Imagine if you went to William Hill Online and tried to bet on a dog and they waited till the race started and only gave you the bet if your dog was behind the pack ? This is what has been happening at Capital Spreads for a long time.

I used the dogs example as a way to explain this issue and am not suggesting you bet on them !

(Lane 1, Rover, Wembley 8.45 tonight !)

 

[momtic]

Spreadbetter

I have an account with CMC and yes the fills are very good.and 24 hr.. But one must be careful, if you open a position lets say the EUR/USD Long at 1.1810 and a stop 1,1780. the market then went on and made you 25 pips profit, so you close you position.

But you must be aware you still have a position in the market. The stop is still in place although you are flat the market. I have been had a few times with this. As long as you remember once you get out of a position, make sure you cancel you stop or limit. as it is still pending.

What I like about C/S is they do this automatic so you got no nasty surprises the next day when you open you account.The only thing I dont like is wating for a fill with the egg timer thing.once they get they FX prices sorted,I be happy to trade with them and a good stake.

 

[breadman]

Some good news for Capital Spreads forex traders. Capital spreads are looking to raise 15 million when they list on AIM. They might use some of the money to improve the fx platform.

Breadman

 

[Spreadbetteur]

Based on my experience Capital Spreads would be a good short.