D4F at it again

[gmca686]

The USA futures jumped after the data which came out at 1330 hours.
I wanted to short the S+P at the peak! (hopefully)
I got the "wait for a dealer to respond" I cancelled the order as the futures were still going up. Three minutes later they completed the deal ignoring my cancel instruction. Then I tried a further order higher up. The "wait for a dealer to respond" lasted 7 ish minutes, then they cancelled the deal as the market had fallen back, and I'm invited to phone a dealer to trade!
Do they want customers??

 

[boy]

try direct access, you will wonder why you ever bothered with steal4free in yhe first place.

 

[AGB]

Had the same thing happen to me.

Tried to place an order to sell GPB/USD, got the "wait" message, did not wait as long as you did and decided to cancel.

Luckily I checked later and found it had been executed.

Phoned and they cancelled manually.

I was advised that Client Position Keeping is not operating again!

This is the last straw, I have had enough. I only use them for forex and will now definitely be opening a mini account with FXCM

 

[getting better]

We have done well with the account with them on stocks, but enormous patience is required to counter their pisstaking. To be fair I don't think all their dealers take the piss, and occasionally they requote if the price has moved to a better one.
Today they have cut the number of stocks one can deal on in Europe and elsewhere quite a bit. Why?

 

[Tuffty]

They have cut back on a number of instruments in the last few months. I guess they can't make money out of them or don't get enough volume - it all looks a bit arbitary from a customers point of view.

 

[jklondon]

alas ...was looking into using D4F since they are more cost effective than IG on paper ..I guess not in practice!

 

[keano]

what instruments have they cut back on?

 

[turtle trader]

IG don't seem very popular with people on this board (speaking generally, not necessarily anyone here) but I use them & it seems to me that whatever cost benefits D4F offer over them are far outweighed by the problems you experience. IGs platform isn't fantastic but the prices they quote ARE DEALABLE! I trade upto 5 times a day or thereabouts, and I can only remember one instance when I've not been filled (which was months ago so I don't remember the details).
I hope this doesn't sound too much like an advert - I don't work for IG or anything - just think it's worth paying whatever the difference is (if any?) to be sure of getting your orders filled

have a great w/e
Turtle

 

[stevet]

one thing i have always wondered - people on here seem to say that D4F is a nightmare or can be a nightmare - but becuase they have the tightest spreads - everyone uses them - but if you take a trade - are you offered thebid and ask at the same time - so you can choose which you want - and is there a time to decide - what i am getting at is - do you know for sure that the price you are getting is genuinely this tighter spread?

 

[Bigbusiness]

I gave up short term trading with deal4free. I also don't like IG. The trading platform froze on me a few times and there was no way of telling if my trade had gone through. Also if you get the trade wrong with IG, that spread can lead to a nasty loss very quickly. I decided to open an account with Interactive Brokers. There is a 1pt spread on the Dow mini futures most of the time and 1 contract is worth $5 a point. To buy and sell 1 contract cost $4.80. So it is a bit like having a 2 point spread if you trade 1 contract. But I think the main advantage is you are trading something real, not a spreadbettors quote that darts around. Only made 1 trade so far but it was a much more enjoyable experience than spreadbetting.

 

[CityTrader]

deal4FREE- the name kinda says it all doesn't it? remember no such thing as a free lunch...

 

[Naz]

Bigbusiness has got the right attitude in my opinion.I trade the Dow when the mood takes me with the diamonds and my spread is normaly nothing.

 

[noggin]

I'm a bit of a lurker but this deal4free topic is very topical for me right now as I'm in the middle of a dispute over a trade with them. For what it's worth my advice would be to keep well away from them. Like many others I was attracted to them by their tight spreads (relative to other SB companies) but when things go wrong they just don't want to know. At the moment my gripe with them looks like it could be heading to the Financial Services Ombudsman.

Has anyone else had difficulties that were not amicably resolved with deal4free?

noggin

 

[mmillar]

Generally I have found D4F very good if they are used appropriately. If you use them to buy/sell on breaks then it doesn't work. Understand how SB companies work, especially D4F who have such tight spreads. You buy through them, they hedge your bet by buying in the market. If the market is moving quickly they don't have a chance to hedge so they wont give you the price. There is a delay. Trading with fast action doesn't work with SB companies. If you trade on breaks (or other fast moves) then you need to trade through a proper broker.

noggin - I have had disputes with D4F in the past. If you give the facts they are generally friendly and respond well. Have you spoken to the head dealer and to their compliance department? Generally, all SFA regulated companies will bend over backwards to avoid the SFA unless they are totally certain they are going to win. Be careful you don't waste your time and money.

Cheers

mmillar

 

[OddTrader]

try direct access, you will wonder why you ever bothered with steal4free in yhe first place.

I've got problems with "S4F" as well. What's Direct Access?

 

[Bigbusiness]

Try here:-

http://www.interactivebrokers.co.uk

 

[SUNSEEKER]

BB, sending you PM, for the rest of you, the reservation I have about IB is that you cant get hold of them if something does go wrong....that is a HUGE disadvantage, especially if you are swinging 8-10 Dax contracts and there is a lapse.

If you really want to go direct and have a rock bottom prices and solid support, then consider

http://www.spiketrading.com/index.asp

They service SP500 pit traders but also the likes of us retailers..

I hope this helps

 

[SUNSEEKER]

and here is some blatant advertising: City has cut their Dow in hours spread to 6 points, CMC is 5, BUT with City, there is no such thing as requote.....

 

[mma]

How's Mike Spencer ? honourable gent in my view , say hi to him .

 

[OddTrader]

Have you tried yet the new charting software of MarketMaker?

It was up for only two days this week, but not functioning at all on both Thursday and Friday!!!