Currinex Platform but in a spreadbet wrapper

[DMFXTrader]

Depends upon how you trade.

It is less than my other broker and I pay tax with them, so it's not too bad for me although it could be better.

 

[A Dashing Blade]

these were the guys who used to white-lebel the futuresbetting.com platform for DMA futures trading

 

[FXSCALPER2]

Where is the website, guys? Thanks

 

[gc1]

I suppose that out of that $45 per $1m they have to pay the betting duty - although if their customers, counted all together, don't make a loss then the betting duty would be zero (if I understand it correctly, betting duty is paid as a percentage of net customer losses).

So on GBP/USD if their Currenex liquidity providers were quoting a spread of 1.5 pips that would translate to about 3.27 pips to the customer (1.5 + 2*1.97*0.45). Not particularly attractive for people trading in the size required. But for scalpers rejected by the traditional SB firms it could be worthwhile.

 

[fibbinstarchi]

Where is the website, guys? Thanks

Twowaymarkets Ltd : CFDs, Futures, Spreads, Forex and Managed Accounts


Twowaymarkets Limited
18 Savile Row
London, W1S 3PW
Tel: 0207 099 1138
Fax: 0207 096 0963
[email protected]



The spreads on the demo are wider than the actual real market due to the lack of volume.

 

[peter sims]

these were the guys who used to white-lebel the futuresbetting.com platform for DMA futures trading

Yes this is correct they did infact do what you said as that was how i ended up using them, and i have heard that futuresbetting.com are in later stages of starting up again, i can only assume that since when they went out of business someone has seen what a great platform they had and brought up the rights for it?, me for one will be watching this space with great hope as i found them to by far the best in DMA also does help knowing that when they did go down i received all my money back

 

[bobomini]

With forex, the banks are the nearest you can get to having a formal exchange. As such, bank-backed prices are as good as it gets for the sake of DMA. However, for this product to enjoy tax haven status in the UK, the bets must not involve real transactions outside the firms offering the product; so some form of limited bucket shopping is unavoidable. This is IMO why futuresbetting went overseas. Yet the smart thing to do is offer these real prices to induce a psychological sense of belonging in those who have always wished for a way of trading DMA without paying tax. The real hope for the product offerer..... (,,I think), is that the small spreads will entice a user size big enough to earn reasonable profit for the firm. In other words, large scale economics! The next step will be to offer same product in other non-forex markets .......whenever enough clients ask for one. With this in mind, I am all for it as it will drive down futuresbetting commissions afterall (if they come back....ehm, when they come back).........I stand corrected!
-

 

[DMFXTrader]

TwoWayMarkets website has now been updated with a few details of their new Currenex spread betting platform.

 

[bobomini]

I still stand by my earlier comments on this thread re comission AND the fact that it almost certainly ISN'T true DMA, just a marginally better platform to execute on.

GJ

In fact, it cannot be true DMA. That will make it illegal. The law only gives tax relief to bets but not trades.

 

[fibbinstarchi]

Illegal? Well if that's the case (I'm told it's not) I'm sure you would/should contact the authorities, lol. Instead of writing nonsense on this thread, how about giving them a call to get the FACTS? :smart:

 

[PualoP]

So has anyone opend an account then? If so can anyone clarify weather or not it's true DMA and you can put Bids and Offers in?

 

[magten]

So what happened?

 

[gc1]

I suspect the high commission rate caused those who had expressed an interest to not to follow up on it.

 

[Luc.Chase]

What makes it a Spreadbet

What is it exactly about the wrapper that makes it into a Spreadbet :?: