Deal4Free and IB IdealPro

[JonnyT]

Hi folks,

I have this morning monitored the quotes for GBP Cash on Deal4Free with the GBP on IdealPro.

They are literally tick for tick with IB coming in about 250ms quicker than Deal4Free. The spread is also identical.

All I can assume is that they must be using the same liquidity providers.

This rather suprised me.

Given this context if Spreadbets are tax free for traders (I have today written to the IR requesting a definative answer) then Deal4Free would be the way to go.

Of course I haven't tested this out with large orders and at market moving moments where I know IB do not play games.

JonnyT

 

[JonnyT]

Ah, I spoke too soon.

Deal4Free are now quoting 1 pip above IBs quotes but in harmony.

Is this Bias following a big down move?

JonnYT

 

[Spreadbetteur]

If there is a thrust bar, possibly during a break out, have you noticed any difference ?

This might be worth checking and getting in with the lagging feed. With a very tight negative exit criteria, perhpas 2/3 pips.

 

[schoe]

JT, After reading your post I went on to read this one on the Capital spreads thread i'll copy and paste it here in case you missed ,it. Obviously may be biased but normally he is a straight talker.

the differences between SB and direct access on FX is now wafer thin. Of course I would argue in favour of SB platforms but just as many would extol the virtues of the Spot FX trading sites. In general the spreads are now very similar for both (if you look at us and D4F) and the functionality is pretty similar as well, with SB order models now reflecting professional sites.

There is still the fear of dealers using SB companies that their stops may be hunted out by the SB company itself (no matter how often this is denied). And on the other side dealers do like the fact that if they do make profits on the SB platforms, those profits are tax free. But against this again many of the SB companies are not 24 hours online. Though to be honest a day trader in FX should in reality confine his/her trading to specific times of the day and should not go home with any positions. If you are trading in the middle of the night a) you are probably desperate and b) tired.

In general spread betting also requires less margin up front , especially with Capital Spreads.

But my advice would be to test each type of dealing for yourself and go with the one you feel most comfortable with.

Simon

 

[SvenFoster]

If there is a thrust bar, possibly during a break out, have you noticed any difference ?

This might be worth checking and getting in with the lagging feed. With a very tight negative exit criteria, perhpas 2/3 pips.

you can't 3 pip stops on D4F i think 10pips is about the nearest. That said I've often thought D4F prices were a bit iffy except for FX which has in my view always appeared to be well behaved, now with JTs comments I'm even happier.
With the new fancy pants charts you get on the SB side now it has seriously improved D4Fs offering. (I even had some customer service a couple of days ago.) Of course it doesn;t solve my API wish list but its better than bad.
Saying that I would really really really really like to be able to manage a trade/stops from the chart if "Mr billy deal4free" is listening
just an option.
Sven

 

[gmca686]

Minimum stops on D4F are 2 times the spread plus 1. Therefore with a 3 pip spread, the minimum stop is 7 pips.
However, in fast moving markets they move the goal posts. With Google, on a 15 point spread, the min stop is 31. However, several times my stops have been rejected, only to discover that the min has been manually set at 70. Very annoying!
regards G McA

 

[Anonymous]

Has anyone asked the SB firms or online brokers something like: "If a customer wins too much money will his account be closed?" and see what happens next? (it should be more obvious if one demonstrates to the online broker in question how much he can make with that broker's platform in say a day or 2 continuously).

 

[JonnyT]

I think the Deal4Free charts are poor. I couldn't even get Candlesticks on FX when I tried this morning or am I missing something?

JonnyT

 

[Bigbusiness]

I think the Deal4Free charts are poor. I couldn't even get Candlesticks on FX when I tried this morning or am I missing something?

JonnyT

You can get candlestick charts. I just can't remember how you do it

 

[Hittfeld]

I think the Deal4Free charts are poor. I couldn't even get Candlesticks on FX when I tried this morning or am I missing something?

JonnyT

Yes you are definitely missing something. At least when looking at MarketMaker5 (CFD-version).

Regards

Hittfeld

 

[SvenFoster]

I think the Deal4Free charts are poor. I couldn't even get Candlesticks on FX when I tried this morning or am I missing something?

JonnyT

Erhmm I think your missing something because the SB Marketmaker has a cut down version of "Pro Real-time" charts.
40+ indicators, ability to write your own(decent enough VB style if/while/for etc..)
Backtesting(although took some fiddling to get a resonable position sizing kludge) - also in the VB stylee.
I'm partial to the trendlines drawing themselves on smaller TFs and if your into 2 and 3 min TF well the world is your oyster

Not perfect but 1.342 squillion times better than the original charts

 

[JonnyT]

Yeah thats similar but how do you get the candlesticks?

All I get is a line chart!

JonnyT

 

[SvenFoster]

Yeah thats similar but how do you get the candlesticks?

All I get is a line chart!

JonnyT

Hover over the main chart area.
Click on the spanner in the top left of chart.
In the popup select the "Price 1" entry.
On the right hand side change the "style" from -------- to Candle.


I have to say it was a really bad idea to use ------- instead of "Line" (looks too much like a width drop down)

 

[vishwamv]

Hi johny T

I would suggest u to save a template on market maker platform, b4 saving template u could choose as many indicator based on ur strategy, to get candle stick Right click on chart, u will get properties price, on selecting that u will have option to select style candlestick,histogram,line etc....
Hope this helps..
Cheers
VIswa

 

[Peter36]

Spread Betters who make too much money !!!

Has anyone asked the SB firms or online brokers something like: "If a customer wins too much money will his account be closed?" and see what happens next? (it should be more obvious if one demonstrates to the online broker in question how much he can make with that broker's platform in say a day or 2 continuously).

Hello Anonymous (in Singapore )
It is always heartening to hear from spread betters affected by such problems i.e. "making too much money".
My understanding Anonymous, after discussing this matter with Senior management in a couple of SB firms some time ago is that the problem seldom crops up. Unlike their long suffering clients, SB firms are risk averse. Apart from the cancelling out effect of bulls and bears, the SB firms hedge their exposure on the underlying instrument so that they do not lose out, whatever the outcome. The reality is that 95% or more of clients lose their entire margin within the first 3 months of opening an account with a SB firm. Consequently SB firms are constantly searching for new clients, as there is such a high turnover. SB firms are aware that winning clients are happy clients who make favourable references to their firm, trade more often and take on bigger positions. They also find it reassuring to be able to say "Oh yes, we do have clients who make money"
Here`s to your continued success, long may it continue.
Regards from Peter36 in Ireland.

 

[Anonymous]

Peter36

I was testing out a demo platform based on their supposed real time prices with an unregulated online broker (not the UK) a few days ago. They had a usual size account and a mini account. I tested on both.

Then I was asking the admin questions as I tested for 1 to 2 days. The demo on both went up 10% to 20% each per day, consistent trades over 24 hours, not one trade a day (anyone can do it).

Around the second or third day they stopped the mini and requires a $25000 minimum deposit: for an unregulated broker compared to a regulated one with something better and requires only $7,500 deposit.

 

[bluetipex]

I think the Deal4Free charts are poor. I couldn't even get Candlesticks on FX when I tried this morning or am I missing something?

JonnyT

Right click on the price itself which will bring up the "properties" box. Then click on "style" which gives the various options: Histogram, Points, Invisible, Bar, Candlestick and Mountain.

 

[gmca686]

I think the Deal4Free charts are poor. I couldn't even get Candlesticks on FX when I tried this morning or am I missing something?

JonnyT

What a ridiculous comment!
Click on HELP, select CHARTING HELP, download the 37 page CHARTING USER GUIDE. Then read it, as others have obviously had to do.
Only when you understand how a system operates is it valid to comment how good or poor it is.
Sorry about my reaction, but I get fed up with all the unqualified negative comments that appear on this site.
regards, G McA

 

[JonnyT]

Who rattled your cage?

I did suggest I was missing something...

Do you work for CMC?

JonnyT

 

[LevII]

I get fed up with all the unqualified negative comments that appear on this site.

You could always exercise your right not to enter the site.

I have found much assistance here.