futuresbetting.com

[jonsjon]

What is DMA?

 

[arabianights]

direct market access, i.e. trading in the real market.

 

[UKtradergirl]

direct market access


edit: oops i was beaten to it!

 

[new_trader]

new trader if you tell me what professional means I'll tell you if scalping is professional

Well that put me on the spot! I would have said a City Trader is a professional and the definition according to traderpedia is:

City trader

Definition:
A generic term used by the media referring to professional traders engaged in trading of any¹ type.

So, I suppose, if your platform/broker doesn't allow you to engage in trading of "any¹ type" then you would have to question whether you are using a professional or non-professional platform/broker.


1. Within the law

 

[ceydababy]

I am aware of the disadvantages and chicanery with S/B's but there is one thing I simply can't understand - How do they know how long you intend to hold a position when you open it? I just don't understand what you mean by "If you try and scalp or short term trade using a spreadbet they will NOT let you get away with it." So I enter a trade and it immediately goes in my favour 3 points are you saying they would prevent me from closing that position until it has retraced to a loss? That has never happened to me, never. In the last year or so whenever I have put a trade on with a S/B I have my DMA prices available so I know what's what and what's not.

Ok, when I first opened my account with world spreads I was having no problems at all. As they became aware I was short term trading they put me on to dealer referal. This was confirmed by the guy on the telephone at World spreads.

I will give you examples of what EXACTLY happened once I was on dealer referal. This was on the YM.

1. Clicked to go short at 11, as the price moved upwards I was filled at 19. I clicked to get out at 21, the price kept going up and at this point was at 40 and they offered me 33 to get out, which I took.

2. Clicked to go short again around 11/12 I got offered 94.

3. Clicked to go long price raced up and I got "price no longer valid message"

There were more incidents that this, and if you are put on dealer referal you will know right away that there is a problem with the platform. You will get big delays between you clicking and getting filled and more often than not if the trade runs in your favour straight away they just won't fill you.

In answer to your watching 3 points turn in to a loss. I actually saw a 20 point profit reverse to a loss with world spreads and that's when I ditched them. Just clicked to get out and kept getting "check open positions to see if position is still open"

I have no reason whatsoever to make this up, and you might think it's paranoia on my part but trust me it isn't. I have spoken with 2 different people at world spreads who have confirmed my account is on dealer referal. Once this happens it's game over with whatever s/b firm you are with.

AT first World Spreads were very retisant to confirm I was on dealer referal. However, I called them a week later and the guy told me straight out because of my style of trading they had no option but to put me on to dealer referal.

In answer to your question "how do they know how long you hold a position when you open it ?" People are generally creatures of habit. Someone who has taken 50 trades with you and all of them under 2 minutes in duration you are not going to put money on the 51st lasting for 45minutes.

In fairness Worldspreads are a TIN POT operation and I've not experienced this with any of the larger S/B firms.

 

[arabianights]

Well that put me on the spot! I would have said a City Trader is a professional and the definition according to traderpedia is:




So, I suppose, if your platform/broker doesn't allow you to engage in trading of "any¹ type" then you would have to question whether you are using a professional or non-professional platform/broker.


1. Within the law

I think this is semantic masturbation...

 

[futuresbetting]

Ok, when I first opened my account with world spreads I was having no problems at all. As they became aware I was short term trading they put me on to dealer referal. This was confirmed by the guy on the telephone at World spreads.

I will give you examples of what EXACTLY happened once I was on dealer referal. This was on the YM.

1. Clicked to go short at 11, as the price moved upwards I was filled at 19. I clicked to get out at 21, the price kept going up and at this point was at 40 and they offered me 33 to get out, which I took.

2. Clicked to go short again around 11/12 I got offered 94.

3. Clicked to go long price raced up and I got "price no longer valid message"

There were more incidents that this, and if you are put on dealer referal you will know right away that there is a problem with the platform. You will get big delays between you clicking and getting filled and more often than not if the trade runs in your favour straight away they just won't fill you.

In answer to your watching 3 points turn in to a loss. I actually saw a 20 point profit reverse to a loss with world spreads and that's when I ditched them. Just clicked to get out and kept getting "check open positions to see if position is still open"

I have no reason whatsoever to make this up, and you might think it's paranoia on my part but trust me it isn't. I have spoken with 2 different people at world spreads who have confirmed my account is on dealer referal. Once this happens it's game over with whatever s/b firm you are with.

AT first World Spreads were very retisant to confirm I was on dealer referal. However, I called them a week later and the guy told me straight out because of my style of trading they had no option but to put me on to dealer referal.

In answer to your question "how do they know how long you hold a position when you open it ?" People are generally creatures of habit. Someone who has taken 50 trades with you and all of them under 2 minutes in duration you are not going to put money on the 51st lasting for 45minutes.

In fairness Worldspreads are a TIN POT operation and I've not experienced this with any of the larger S/B firms.

futuresbetting.com,we want you to make money, then hopefully you trade more volume and pay a fixed spread (comission) to us.
you get actual market prices, so if the market is offered or bid just a click on the mouse and your filled.

 

[N Rothschild]

what kind of size can you handle?

 

[Phil Mibbutz]

futuresbetting.com,we want you to make money, then hopefully you trade more volume and pay a fixed spread (comission) to us.
you get actual market prices, so if the market is offered or bid just a click on the mouse and your filled.

Don't doubt the efficiency of your platform, but is there any chance that the commissions will be reduced? For instance, as I understand it, on YM the spread is effectively a minimum of 5pt, reducing to a 3pt after 200 lots. That seems to make FB a lot more expensive than a normal broker, even if you don't pay tax on the profit (which is going to be much harder to make in the first place!).

 

[new_trader]

I think this is semantic masturbation...

Call it what you want, you asked for my definition and I gave it. I can't believe people can read threads like this and still think spread betting is professional. But I know better than to start another one of those debates

 

[arabianights]

awwww, go on, would be fun

My personal view is that no trading is professional. A doctor is professional. An architect is professional. I can think of no form of trading that is professional.

 

[rawrschach]

I'm a pro =D

but not for long

 

[futuresbetting]

Don't doubt the efficiency of your platform, but is there any chance that the commissions will be reduced? For instance, as I understand it, on YM the spread is effectively a minimum of 5pt, reducing to a 3pt after 200 lots. That seems to make FB a lot more expensive than a normal broker, even if you don't pay tax on the profit (which is going to be much harder to make in the first place!).

what we offer is single click spreadbetting with no re quotes and instant fills as i am sure you have seen, we want you to make money and this is made easier for you by not recieving re quotes and slow fills unlike other spreadbetting companys.
we have to make some money as well.