Best Thread Capital Spreads

[capitalspreads]

houdani

difficult one for me that question. Because if i have got to carry the risk overnight i want to get something for it!!

At the moment we do our rolling charge at 21.15(ish) but in reality the CME closes the S&P and the Nasdaq at that time as well and then opens again at 21.30 at which time the liquidity becomes virtually non existant (the dow is even worse with bid/offer spreads on the exchange becoming 8 to 10 points at times during the dead hours).

we are looking at giving some prices in the night shift on the american markets but we would suffer from the same problems as other SB companies in that offering tradable prices in markets in which there is little real interest is very difficult and open to manipulation.

but it will come

simon

 

[houdani]

houdani

difficult one for me that question. Because if i have got to carry the risk overnight i want to get something for it!!

At the moment we do our rolling charge at 21.15(ish) but in reality the CME closes the S&P and the Nasdaq at that time as well and then opens again at 21.30 at which time the liquidity becomes virtually non existant (the dow is even worse with bid/offer spreads on the exchange becoming 8 to 10 points at times during the dead hours).

we are looking at giving some prices in the night shift on the american markets but we would suffer from the same problems as other SB companies in that offering tradable prices in markets in which there is little real interest is very difficult and open to manipulation.

but it will come

simon

simon, thanks for the reply.honestly speaking ,ur opening hours are a major stumbling point.especially for day trading.perhaps when offering for globex ,charge an extra point on major markets after 22.00. surely the bulk of you'rte custom play the u.s markets?

 

[fxwinner22]

6/3/06 quote simon

"as I have commented many times we have never restricted a clients trading on the spread betting side NO MATTER how much they win."

not strictly true is it simon.

 

[wasp]

6/3/06 quote simon

"as I have commented many times we have never restricted a clients trading on the spread betting side NO MATTER how much they win."

not strictly true is it simon.

Has it happened to you then?

 

[talkingcents]

Stop loss and opposing trades

im currently using capital spreads and on the whole i find it quite decent.theres a few little grumbles(computer generated stoploss for one) but something i do find a pain are the opening hours.are there any plans to extend the opening hours for daily trades like the snp and dow? at the moment you have a bare 15 minute time window with which to place a daily trade for the next day, otherwise you have to go in before the close and incur the rolling charge.10 0clock would be a lot more helpful at least. and why is their no out of hours helpline you can ring if something goes wrong with your account? when i first opened my account i didnt realise that you couldnt run an open long trade on a specific instrument and a short at the same time as you can with other spread bettors.this meant i closed a longer term position out whilst trying to scalp against it and by the time id realised what had happened you're 9.15 watershed had come and gone and i had to wait all night to re-open at a cost of several points.just suggestions that i think a lot of people would like to see you implement.

I prefer having a computer stop loss generated as it is very quick and easy to change its level nearer or farther away. Other platforms can leave you exposed with no stop in place.
In order to do opposing trades I have two accounts operating one in my name and one in my wifes name but I expect there is no problem in operating a No1 and no2 account but perhaps Simon can verify

 

[capitalspreads]

fxwinner , wasp

not knowing who fxwinner is i would assume that he is commenting on the fact that we restrict every single client in 'out of hours' FX trading. Between 21.15 and 07.00 (and on some other bank holiday related days) we only allow clients to build/trade positions in the 24hr fx markets in up to £20 (currently). Of course you can trade out of an existing position in any size. I would not actually say that this is restricting 'winners' from trading as this is just a position policy in overnight markets. But I may be wrong and if so FXwinner will no doubt enlighten us.

talkingcents
any client can have two accounts with which he/she can trade opposing positions. There is no problem as far as we are concerned for obvious reasons!!

cheers

simon

 

[fxwinner22]

yes, thats what i was referring to, so you do restrict winners (but losers also

Simon, a question for you.

Cap spreads is a private company owned by a single wealthy individual - or at least that is my understanding. (correct me if im wrong)

what would happen if this individual decided to pull out of the spread betting game? if he died? of if you went bust?

in these scenario's what would happen to client funds and how long would it take to get those funds back?

I have other questions also but ill ask them in due course.

 

[hagadol]

I see that CMC Spreabet have moved Eur US$ Rolling Cash to 2 pips from today. Will we see Capital Spreads go to 1 pip or perhaps reduce Cable to 2 pips ?

 

[capitalspreads]

fxwinner

uummm no ..we are a listed company trading under the ticker LCG (London Capital Group) quoted on AIM. London Capital Group has several units including FX and derivatives broking. Clients funds are held in a segregated account (at Barclays) and we must keep funds covering all client money AND all winning bets on a daily basis. We cannot even deduct losing bets from this sum. As clients are private, unless we stipulate otherwise, they are also protected by the FSA insurance which, I think, is up to £48K per person.

As with all things, recovery of money in disaster scenarios is like asking 'how long is a piece of string'. But we are a long long way from any such problems.

cheers

simon

 

[FXNEOTRADER]

I see that CMC Spreabet have moved Eur US$ Rolling Cash to 2 pips from today. Will we see Capital Spreads go to 1 pip or perhaps reduce Cable to 2 pips ?

CMC is great news. However there really is no comparison at all with CS's offering. CS could go to choice prices and without auto execution it would be meaningless. As long as they have their "dealers" sat there accepting/rejecting every deal with the benefit of 5 seconds hindsight you simply can not trade with these guys.

Simon do you have any plans to allow deals to go straight through?

 

[capitalspreads]

FXneotrader

there are reasons for trading on both our platforms.... margin requirement and order functionality amongst others areas benefit clients on our platform other functionality may benefit dealers on CMC. I dare say we have lost some clients to CMC over the years (i do not know as they havnt told us!) but I do know that we have gained quite a few from them for various reasons.

CMC are a fine company but still a competitor.

cheers
Simon

 

[houdani]

simon are there any plans to improve accuracy of the softwared on your site? ive lost count of the amount of times ive gone to close a trade at a certain level pressed confirm and its confirmed at a totally different price.extremely annoying.i accept theres slippage, but five pips in the time it takes me to depress a key is a bit much!

 

[Visaria]

simon are there any plans to improve accuracy of the softwared on your site? ive lost count of the amount of times ive gone to close a trade at a certain level pressed confirm and its confirmed at a totally different price.extremely annoying.i accept theres slippage, but five pips in the time it takes me to depress a key is a bit much!

Sounds very worrying if the software changes the price just as you are clicking on the button.

Awaiting your comments Simon....

 

[fxwinner22]

question 2:

if you funded an account with say 10k, i realise that when you take that 10k out it would have to go back to the account that funded it.

however when taking out winnings above that figure with which the account was funded are we still restricted to the 'funding account'? (i realise this doesn't happen often with the vast majority of players

 

[capitalspreads]

houdani

i was not aware of this problem (as it had not been raised with me) when this does happen then we will have a record on the audit trail and are able to make corrections to the deal price at a later date. We have raised this with IT and they are looking into it. Their initial view was that it could not happen ... but then when pressed mentioned compatibility issues. So this will be cleared up as soon as poss. It appears to happen to a very tiny number of trades and always to the same accounts which is why they mentioned incompatibilty. If this was a major prob I think that we would have heard about it here before. The audit trail always gives the price of the deal when the trade was made.

fxwinner

sorry but no. The reason is, that a client wishing to money launder could open an account with two SB companies take equal and opposite trades thus ensuring a profit in one of them which he could then ask to be sent to a third location.

cheers

simon

 

[Phil Mibbutz]

If Worldspreads is offering a 1pt spread on the FTSE, does this mean that CS and the rest will follow?

 

[capitalspreads]

as worldspreads are just offering this as a temporary come on teaser (at least thats what they say)...as in other markets do many of our competitors on occasion. Their product info has the spread as 2 points. which they will presumably default to as soon as the promo finishes. It is unlikely that anyone will follow. Dealing costs(margin broking etc etc) make it uneconomic below a certain level.

apart from this one market WS are wider than us on most other instruments...especially FX and shares.

simon

 

[wasp]

Hello,

I'm no IT whizz, so can anyone tell me if this was due to my conputer or a CS problem? If CS, did anyone else get it at all?

 

[coolTrader]

Hello,

I'm no IT whizz, so can anyone tell me if this was due to my conputer or a CS problem? If CS, did anyone else get it at all?

Call CS Support. I am fine logging in.

 

[irishpaddypc]

Hi

Emails with pictures of Osama Bin-Laden hanged are being sent and the
moment that you open these emails your computer will crash and you will
not be able to fix it! This e-mail is being distributed through
countries around the globe, but mainly in the US and Israel.

Don't be inconsiderate; send this warning to whomever you know.
If you get an email along the lines of "Osama Bin Laden Captured" or
"Osama Hanged" don't open the attachment.

Regards

Paddy