FP Markets

[catt]

FP Markets,

Am I missing something here? I said I trade LSE listed shares & Aim listed shares & want to buy & short as well.

Your link shows only HK exchange. What country are you even based in?

 

[FP Markets]

FP Markets,

Am I missing something here? I said I trade LSE listed shares & Aim listed shares & want to buy & short as well.

Your link shows only HK exchange. What country are you even based in?

Hi Catt

There are tabs at the bottom of the spread sheet that show the different exchanges. We are based in London

 

[FP Markets]

Hi Catt

There are tabs at the bottom of the spread sheet that show the different exchanges. We are based in London

We have 1550 LSE Equities in total, of these 578 are shortable but we can be flexible if we are able to borrow the stock.

 

[Ross Spur]

Has anyone worked out relative all-in costs for buying then selling (or vice versa), say, £1000 or £10000 worth of shares using the various methods available, ie, SB, DMA SB, CFD, DMA broker, ordinary broker, etc?

 

[catt]

FP,

I have now had a look the your LSE tab. Surely these two spreadsheets are the same? Can you save me some time by telling me the difference?

I couldn't find any Aim listings. Are they all LSE Main Market?

Are these spreadsheets subject to change and if so, how often?

In terms of your Margin column, could you please explain the implications on a trade, by example, of the figure 25, 35 or 10. What's meant by 1 LOT?

 

[catt]

Has anyone worked out relative all-in costs for buying then selling (or vice versa), say, £1000 or £10000 worth of shares using the various methods available, ie, SB, DMA SB, CFD, DMA broker, ordinary broker, etc?

I am trying to do that comparison. In particular DMA SB -v- CFD. I am already familar with my broker's DMA and a popular UK non-DMA broker and standard non-DMA SB.

 

[catt]

FP,

I really need to know how I would be able to quickly calculate the profit from a potential trade.
I would create my own spreadsheet unless you have a great platform which does this for me before I enter a trade.

 

[Ross Spur]

I am trying to do that comparison. In particular DMA SB -v- CFD. I am already familar with my broker's DMA and a popular UK non-DMA broker and standard non-DMA SB.

Good luck with that! It's easy enough to compare basic SB with ordinary broker and work out when one becomes more cost-effective, but not so simple when the possibility of trading inside the spread enters the equation. Also, there's an added angle with potential tax on profits, or losses, if you can offset it.

 

[catt]

FP,

What I particularly don't like about your website is it is not very transparent and open. Why the secrecy?

I can't see anything of your platform or get any information without having to email you with my details and request it.

You offer webinars but I can't see the dates. I could open an a/c and then find you have none planned.

Even your bank transfer details don't make it clear whether this is Bacs or Chaps transfer.

 

[catt]

Good luck with that! It's easy enough to compare basic SB with ordinary broker and work out when one becomes more cost-effective, but not so simple when the possibility of trading inside the spread enters the equation. Also, there's an added angle with potential tax on profits, or losses, if you can offset it.

The tax aspect is easy enough to factor in.

Further, I am trading inside the spread now. So that is or ought to be the same as FPMarkets are offering. I really need to compare that because what they offer is simmulated real time DMA. I need to see their live real-time platform on one monitor and my current real DMA on another monitor, side by side. The 14-day platform trial is not real-time. There's the rub!

Then I must factor in:
margin calculation,
the interest charged on losing positions
whether thay pay any interest on my cash balance
any hidden charges, like cost of withdawing funds

 

[Ross Spur]

The tax aspect is easy enough to factor in.

Not really, until a year later, when you know whether you've made a profit or not.

 

[catt]

Not really, until a year later, when you know whether you've made a profit or not.

I don't trade through a ltd company so mine is current year, not a year later.
It is for me to decide whether to trade up to the CGT allowance or exceed it. It is also within my control whether I want to put losses through towards tax year end.

So yes it is feasible to calculate this in advance or at least to make an accurate estimate of it.

 

[catt]

Granted, tax has been simple up to now as I was trading within an ISA, so largely tax exempt (Exception is divis).

FPMarkets as a SB, so winnings would also be tax exempt (and losses can't be offset just like in my ISA).

Comparisons may be difficult but not an insurmountable problem.

 

[Ross Spur]

Granted, tax has been simple up to now as I was trading within an ISA, so largely tax exempt (Exception is divis).

FPMarkets as a SB, so winnings would also be tax exempt (and losses can't be offset just like in my ISA).

Comparisons may be difficult but not an insurmountable problem.

The most unsurmountable problem will always be getting an edge and making a consistent profit. Once you have that licked, the type of account used shouldn't matter much, although the idea of using SB and not paying tax on your hard-fought riches will always appeal.

 

[catt]

The most unsurmountable problem will always be getting an edge and making a consistent profit. Once you have that licked, the type of account used shouldn't matter much, although the idea of using SB and not paying tax on your hard-fought riches will always appeal.

But the type of a/c and the assocated transaction costs are what impacts the ability of making a consistent profit. Hence the importance of selecting the right a/c.

 

[Ross Spur]

But the type of a/c and the assocated transaction costs are what impacts the ability of making a consistent profit. Hence the importance of selecting the right a/c.

Agreed. I wasn't suggesting that it didn't make any difference, but I suppose someone who really has a strong edge would theoretically be able to make money with virtually any type of account, even if they have to pay tax or lose some profit in commission and other costs.

I'm not in that elusive category, so to get back to FP, because of the extra commission/spread they charge on main markets, I doubt I could make a profit unless I found a different way of trading.

 

[catt]

Hopefully FPMarkets will post some replies to my questions.....

 

[FP Markets]

FP,

I have now had a look the your LSE tab. Surely these two spreadsheets are the same? Can you save me some time by telling me the difference?

I couldn't find any Aim listings. Are they all LSE Main Market?

Are these spreadsheets subject to change and if so, how often?

In terms of your Margin column, could you please explain the implications on a trade, by example, of the figure 25, 35 or 10. What's meant by 1 LOT?

Yes the spread sheets use to be separate but when updating them we combined the two together. The stocks under the LSE tab have not been segregated out to say whether they are in the FTSE 100, 250 or AIM but the AIM stocks are present in the list. This spread sheet will change when we are adding more tradable equities or removing any market maker equities that are not electronically tradable.

In the Margin column where it has anywhere from 5 to 85 is the percentage leverage you receive on that equity. For example if it is at 10%, for a £1000 pound position you will need £100 in Margin, 25% you would need £250 pounds and 35% you would need £350. The lot size references the amount you can buy in any one bet. For equities you can bet as low as on individual stocks

 

[FP Markets]

I am trying to do that comparison. In particular DMA SB -v- CFD. I am already familar with my broker's DMA and a popular UK non-DMA broker and standard non-DMA SB.

If you are looking at a comparison, I have put some examples in our photo albums in our profile that compare , DMA CFDs DMA Spread Betting and Normal Spread Betting

 

[FP Markets]

FP,

What I particularly don't like about your website is it is not very transparent and open. Why the secrecy?

I can't see anything of your platform or get any information without having to email you with my details and request it.

You offer webinars but I can't see the dates. I could open an a/c and then find you have none planned.

Even your bank transfer details don't make it clear whether this is Bacs or Chaps transfer.

There are images of our platform in our T2W picture album. The Webinars offered are either downloadable from the site or the live demo's we normally set up with clients after they have phoned up and organised a time for their continence.

The bank details do not change dependent on whether or not you are making a BACS or CHAPS payment