Feedback

[Luminox]

Hello all,

Our discounted market next week is a stock index, the Dow Jones Industrial Avg! Daily price: 2pt spread; Futures price: 3pt spread. (Plus, we've made several updates to the site) FREE GUARANTEED STOPS AS ALWAYS

Let me know what you think if you get a chance to have a look!

David

 

[rpuk]

I'm sorry if you found any of my responses patronising - they weren't meant to be!

I hope I have added something more than what you've heard from SB companies in the past. I completely understand how people sometimes feel misrepresented to by salesmen from SB companies and if I've given that impression it certainly wasn't my intention.

I agree with Sunshine of Leith - I think your responses do reflect well on your company. I have always been quite happy with Finspreads over the years but seeing good responses like this always encourage me to consider my account options.

Russ.

 

[Luminox]

I agree with Sunshine of Leith - I think your responses do reflect well on your company. I have always been quite happy with Finspreads over the years but seeing good responses like this always encourage me to consider my account options.

Russ.

Very kind of you to say. I'm sure I could source an offer for you should you consider a change.

 

[JohnHL]

Referring to an earlier comment that scalping is frowned upon / discouraged, or even banned, I would like to know at what point is a client considered to be a scalper. Say I open a position and it goes sharply in my favour within minutes but I feel that a reversal is likely, so I close out the trade.
Surely this would be termed as scalping. Would the SB company see it as such, or would they look at my trading history and make a judgement based on my average trade durations?

 

[montmorencyt2w]

Referring to an earlier comment that scalping is frowned upon / discouraged, or even banned, I would like to know at what point is a client considered to be a scalper. Say I open a position and it goes sharply in my favour within minutes but I feel that a reversal is likely, so I close out the trade.
Surely this would be termed as scalping. Would the SB company see it as such, or would they look at my trading history and make a judgement based on my average trade durations?

No, that's not scalping.

 

[Luminox]

Referring to an earlier comment that scalping is frowned upon / discouraged, or even banned, I would like to know at what point is a client considered to be a scalper. Say I open a position and it goes sharply in my favour within minutes but I feel that a reversal is likely, so I close out the trade.
Surely this would be termed as scalping. Would the SB company see it as such, or would they look at my trading history and make a judgement based on my average trade durations?

The point at which a client may be suspected as scalping would be where their trades are frequent, high in value, and open for a very short period of time only, usually on forex; there must be a distinctive pattern.

This, of course, is only a guide. If a client can show that this is not the case, then there would be no reason to limit their trading.

Scalping is acting on information slightly ahead of that from which SB companies base their represented price of a security, similar to betting on when a football team will score their first goal moments after the ball crosses the line, for example.

 

[Luminox]

Hello all,

Our Maket of the Week for w/c 19th is: EUR/USD, Fut - spread cut from 10 pips to 5.

Free Guaranteed Stops as always.

Have a great weekend!

 

[gle101]

The point at which a client may be suspected as scalping would be where their trades are frequent, high in value, and open for a very short period of time only, usually on forex; there must be a distinctive pattern.

This, of course, is only a guide. If a client can show that this is not the case, then there would be no reason to limit their trading.

Scalping is acting on information slightly ahead of that from which SB companies base their represented price of a security, similar to betting on when a football team will score their first goal moments after the ball crosses the line, for example.

Scalping is a well defined trading style. Nothing to do with acting on lagging quotes. Discrimination of certain clients is not allowed according to the MiFID financial directives. Order size on the other hand, could be a temporary cause for referring you to a dealer.

 

[Waterfield]

Gle, surely if clients are "arbing" quotes, they can close your account with no questions asked.

 

[gle101]

Gle, surely if clients are "arbing" quotes, they can close your account with no questions asked.

Absolutely, closing an account they have every right to do.

 

[tar]

Gle, surely if clients are "arbing" quotes, they can close your account with no questions asked.

they use this as an excuse only , who will arb cable with a 2-3 pip spread , and frequently ?!

 

[Waterfield]

they use this as an excuse only , who will arb cable with a 2-3 pip spread , and frequently ?!

You'd be surprised! Especially in volatile markets. Whenever there's a 20 pip jump in less than a minute, I'd expect someone to have tried jumping in with a zero risk trade and trying to run it!

http://www.trade2win.com/boards/spread-betting/22098-how-make-money-spreadbet-firms-slow-quotes.html

 

[tar]

You'd be surprised! Especially in volatile markets. Whenever there's a 20 pip jump in less than a minute, I'd expect someone to have tried jumping in with a zero risk trade and trying to run it!

http://www.trade2win.com/boards/spread-betting/22098-how-make-money-spreadbet-firms-slow-quotes.html

frequently in one day ! economic figures is only once or twice daily , what this has to do with some one scalps the euro 20 times daily with a 5 pips stop and limit and he miraculously manage to net 10 pips as a profit at the end of the day ? believe me maybe there is some guys who arb now and then but SB firms use this as an excuse to stop all profitable scalpers ...

 

[gle101]

I have been trading SB for quite many years now, never had an account closed on me. Any SB has every legal right to do this, without even giving you a reason for closing the account. The main problem as I see it is, when they put you on certain trading restrictions, such as a dealer interference, blaming it on "overtrading" or for trading on lagging quotes. They can use this excuse for any kind of undesirable trading style, whenever they want. This practice is not allowed according to the MiFID, and must be criticized when representatives of the industry take it up as a valid excuse for flagging certain traders.