Have you been banned by an SB?

[tradesmart]

See posts by 'probookie' - a valuable insight into the SB's mindset and attitudes towards the punters.......

Regards, TradeSmart

 

[Kilnside]

Stevet/Tradesmart

Many thanks for the replies.

Regards

 

[darrenf]

So...........

Has anyone actually been banned?

or

Has anyone had made life difficult when carrying out "normal" trading ie:-

-liquid markets
-normal market hours
-standard long/ short trades (ie not arbs etc).

So far, it would appear not.

Is this like one of those "urban myths" that everyone has heard about but doesn't actually know anyone that it's happened to??

Are the SB companies really not as bad as many would have us believe?

 

[Finlayson]

Hi

Thought I had replied to this previously, but must have been another thread.

Yes I have had trading made awkward by an SB company, wasn't just me, but me & a few collegues were trading the same instrument all very profitably. Cant comment as to their actual reason behind it .........but it certainly happened.

Jay

 

[adrianallen99]

Hmm! SBing companies sure dont like winners - I Watched one guy go from $2000 to $140,000 in a short space of time. One day he made $40,000. Now he hardly trades, not only that, the company has made it more difficult for exeryone to trade since he won that amount. They had a system setup so you could follow the trades of people registered as gurus and there was about 30-40 people following/copying his trades - that must have cost them a few pennies.

I guess losing upto $40,000 a day from just one person must have hit them hard, my heart really bleeds for them.

 

[keano]

LOL. they must hate my cousin. He has turned his 10000 a/c into about 35000 in about 2 months. heres the best bit....He hasn't got a CLUE what he is doing, and admits it himself. He truly has the luck of the irish. He just sits with his losers until they 'come good'. Its hilarious...

On a not so funny not, has anyone else had D4F just completely ignoring trades recently? I tried to go long the dow at 9616 and absolutely nothing happened. The b#$%#ard thing then rallied about 40 points without me. SICKENING

Keano

 

[adrianallen99]

I find on the days when you just know there is a profit to be made from a trade, it is very difficult to get through on the phone and placing the bet on the internet doesnt work.

 

[CityTrader]

*

the SB firms don't like arbs coz they call up every 2 minutes , online dealing may be a different case.

And the SB's are mostly unhedged , that's how they make their profits . they win you lose , simple as that.

Where do you get this crap from??? I had lunch with the head of market making at one of the top 3 SB firms last week, and I actually asked him about that - I told him about the time I'd arbed 50 points at £50/point on the FTSE at 8.55pm on a UK bank Holiday when the DOW had made a major move. His reply was " we're happy with our prices- they reflect our views of the market and our position, whilst we're not there to be picked off, if we make a wrong price we live with it"

In addition the professional SB firms ( as opposed to those that are aimed at the small retail punter) hedge most trades.

 

[madasafish]

"In addition the professional SB firms ( as opposed to those that are aimed at the small retail punter) hedge most trades."

I'm sorry that is just not true.. as IG admitted in their accounts.. (see prior posts as well)

I had an acquaintance who works for a large and professional firm and he stated:
1. they only hedge their NET exposure on any instrument if large
2. They will hedge large individual orders.. ( he had just closed 100 Dow futures contract for 1 customer - over the phone .)

Doing this with internet orders is virtually impossible.. suppose 1000 customers rolled up and each wanted to buy 5 DOW contracts at once.. they would move the market...

From my observations 2 companies effectively suspend dealing during big index moves.. that's why I moved to IB...and one of their programmers confirmed the above.

They like winners IF they can hedge them and they don't deal 5 times a day.. once a week means the admin of hedging is manageable.

So the answer is: either deal seldom but big or go to a direct access broker..

 

[stevet]

professionals can get a whole different deal at spreadbetting companies - that retail are never going to get a look into

 

[CityTrader]

madasfish- never used d4f but the adage " no such thing as a free lunch" is always at the back of my mind!

Stevet - couldn't possibly comment!