Finspreads...

Shakone and Ross Spur,

I find your replies interesting. I decided to have a day of rapid trades with finspreads on the daily Dow future the other week, I had a good day but towards the end of the day none of my trades were being executed at the speed they had been all day. It appeared my account had had some form of delay put into it or the trades were being routed to a dealer as sometimes I got back "price no longer available in the market" messages. It was as if it happened at the flick of a switch. I called them and asked why and they said they were not doing anything different with my account but she did say "we do reserve the right to check the price you're given". Obviously it incurs a 5 second or so delay, I guess to make you go away and trade elsewhere. Is this in contravention to MIFID directives ? if so I might write to them and then the FSA about it.

I pushed them to confirm if my account had been marked or flagged but they said not, seems like porky pies to me.
 
Last edited:
afewtrades said:
Shakone and Ross Spur,

I find your replies interesting. I decided to have a day of rapid trades with finspreads on the daily Dow future the other week, I had a good day but towards the end of the day none of my trades were being executed at the speed they had been all day. It appeared my account had had some form of delay put into it or the trades were being routed to a dealer as sometimes I got back "price no longer available in the market" messages. It was as if it happened at the flick of a switch. I called them and asked why and they said they were not doing anything different with my account but she did say "we do reserve the right to check the price you're given". Obviously it incurs a 5 second or so delay, I guess to make you go away and trade elsewhere. Is this in contravention to MIFID directives ? if so I might write to them and then the FSA about it.

I pushed them to confirm if my account had been marked or flagged but they said not, seems like porky pies to me.
Click to expand...
Yes time to move on my friend. According to the MiFID best execution directive they are not allowed to flag you on an individual basis. Cityindex (Finspreads) are known to adopt this tactic of delays to traders who are "too successful". Have a go with Capitalspreads, they might suit you better.
 
gle101 . afewtrades

errrrr... i think we have enough winning clients at the moment !

we could do with a few long odds runners coming in on the rails rather than the favorites winning day after day.

cheers

simon
 
capitalspreads said:
errrrr... i think we have enough winning clients at the moment !
simon
Click to expand...

How dare they? They must be trading on latent prices, scalping or exploiting your system :cheesy:

If the problem persists from a bookie point of view, it won't be long before you switch them buggers on 'refer to dealer'
 
finspreads support is diabolically useless!

all i did was submit an account reactivation request as per their web instructions.

If you haven’t traded with us for over 12 months your account will no longer be active.

Before you can trade with us again, we’ll need to ensure that we have up to date details and that trading is suitable for you.

To proceed, you will need to complete one of our Account Reactivation Forms and email [email protected] with the completed form attached.

A member of our Account Management team will be in touch to let you know if we need anything further from you or to let you know that the account can be reactivated.
Click to expand...

not a squeak out of them in a fortnight, the useless bunch! :(

are they even still open for business?? seems not!
 
Apprently so, according to an article I just read. No demo account as I understand it? They say Finspreads target newbies, well surely the must have a demo account if that is the case? The platform sure looks a lot like the web platform DF Markets is using. The biggest flaw with that platform is, no user predifine auto stop loss.
 
gle101 said:
Apprently so, according to an article I just read. No demo account as I understand it? They say Finspreads target newbies, well surely the must have a demo account if that is the case? The platform sure looks a lot like the web platform DF Markets is using. The biggest flaw with that platform is, no user predifine auto stop loss.
Click to expand...

They say it's one-click dealing.
 
gle101 said:
They say Finspreads target newbies, well surely the must have a demo account if that is the case?
Click to expand...

they do 10p point/pip beginner accounts though obviously a demo account offering would be good. demo accounts in spread betting are a bit sparse i thought. i can only think of gkfx, cap spreads and their white labels, did etx stop theirs? any others?
 
Lightning McQueen said:
they do 10p point/pip beginner accounts though obviously a demo account offering would be good. demo accounts in spread betting are a bit sparse i thought. i can only think of gkfx, cap spreads and their white labels, did etx stop theirs? any others?
Click to expand...
Well I agree, 10p account is a good thing and will attract a lot of newbies. but still one would like to check out the features before signing up for a live account. I wonder, do they have a user predifine auto stop loss, probably not.
 
gle101 said:
Well I agree, 10p account is a good thing and will attract a lot of newbies. but still one would like to check out the features before signing up for a live account. I wonder, do they have a user predifine auto stop loss, probably not.
Click to expand...

Do I need one of those?
 
gle101 said:
It can come in handy at times.:)
Click to expand...

If I make a market trade, I can put a SL on beforehand.

If I make an order to sell or buy, I can predefine my stop and limit orders. What else is there that I do not know about?

I have always tended to defend Finspreads but since I have been trading US markets at around opening time I have found that the platform goes off line for some minutes on a, more of less, daily basis. I have not been unduly bothered by this, because I have a stop on the trade, for sure, but I realise that it could annoy some.. It happens at what could be crucial times, the completion of patterns, etc. I have found, though, that the price is just as likely to be a better one, when it comes back.

I mention that to keep the record straight, because I have contradicted spread betting haters.

Sometimes, the chart freezes, too, and is out of sinc with the platform quotes.
Because I do not sit watching the screen much, I don't notice it. I suppose that is the reason that I have not noticed this before.

It's not that big a deal, though and, this platform is good enough for me but, I repeat, it could cause annoyance to anyone wanting to open a trade just at that time. If I can plan entries, I put orders on. They have, always been accurate and I can check periodically to see what is happening.
 
I'm still using old platform. Same as Splitlink, I don't watch charts all day long, so I did not notice any big issues. I try not to trade during very fast price changes. I've never experienced negative slippage on my future orders (luckily ?), but I've had positive slippage several times (last time today). Of course, it's not all rosy, but they seem allright. Low stakes are a definite plus and what makes them stand out. I'm not a fan of new platform, though. Perhaps I am just not used to it.
 
ordinaryguy76 said:
I'm still using old platform. Same as Splitlink, I don't watch charts all day long, so I did not notice any big issues. I try not to trade during very fast price changes. I've never experienced negative slippage on my future orders (luckily ?), but I've had positive slippage several times (last time today). Of course, it's not all rosy, but they seem allright. Low stakes are a definite plus and what makes them stand out. I'm not a fan of new platform, though. Perhaps I am just not used to it.
Click to expand...

New platform seems slower and clumsier.
 
Splitlink said:
If I make a market trade, I can put a SL on beforehand.

If I make an order to sell or buy, I can predefine my stop and limit orders. What else is there that I do not know about?

I have always tended to defend Finspreads but since I have been trading US markets at around opening time I have found that the platform goes off line for some minutes on a, more of less, daily basis. I have not been unduly bothered by this, because I have a stop on the trade, for sure, but I realise that it could annoy some.. It happens at what could be crucial times, the completion of patterns, etc. I have found, though, that the price is just as likely to be a better one, when it comes back.

I mention that to keep the record straight, because I have contradicted spread betting haters.

Sometimes, the chart freezes, too, and is out of sinc with the platform quotes.
Because I do not sit watching the screen much, I don't notice it. I suppose that is the reason that I have not noticed this before.

It's not that big a deal, though and, this platform is good enough for me but, I repeat, it could cause annoyance to anyone wanting to open a trade just at that time. If I can plan entries, I put orders on. They have, always been accurate and I can check periodically to see what is happening.
Click to expand...
Well actually I ment a predifine stop loss order in points. I do not like to fiddle around with figures. Not like today for instance, when there was a mini flash crash in the US. Manually entering the stop loss gives also room for error, have happened to me previously.
 
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