Heads Up - ETX 100 quid

[ETX Capital]

keep up Rob, everyone thought that 100 quid was a govt style trust fund for kids that you'd give interest on each year...

Yep... too true.

Those gravy trains unfortunately can't last forever..

This new offer in March is a good one as well though.

Cheers, Rob.

 

[gamma]

Hi Paul

We have a brand new offer due to be launched in March which we hope will be as well received as the £100 top up last year was. I'll put some more details on here just as soon as I can.

I'm sorry to hear about your friends problems with us (and his leg!). Our customer service team are usually really helpful and we receive a lot of compliments about them. I can understand though that every now and then some clients can experience issues that don't get resolved quite as they'd like or expect. Let me try and put this particular issue right.

The £100 top up expired at the end of 2009, your friend clearly has some mitigating circumstances though so i'd be delighted to get his account topped up with £100. Would you mind asking him to make contact with me and I'll make the necessary arrangements?

Hope everything else is ok.

Thanks for the post.

Best, Rob.

Hi Jason,
Is this new offer only availabe to new clients ?

 

[ETX Capital]

Hi Jason,
Is this new offer only availabe to new clients ?

Hi Gamma

Yes it is. At some stage each silver account holder at ETX Capital would have had the chance to benefit from an opening offer. This new offer is for those people who are yet to try us.

Hopefully once you've taken advantage of an offer and tried us, you'll be able to judge for yourself if the platform is good enough for your business - if it is then a £100 enticement shouldn't really come in to the equation.

The new offer will be publicised from March 1st.

Thanks, Rob.

ps... who's Jason

 

[barryb]

Donovan?

 

[advfntrader]

I was upto £180 when I got put onto dealer intervention...I noticed that a trade got stopped out that shouldn't have as price was no where near ! so I called up, the guy said "oh sorry, I've accidentally closed the wrong trade and I've re-opened the short for you" ! - I looked at the platform and another short had appeared without me opening it. all very suspicious as I wouldn't have though an account with £180 in it would be going through to dealing desk...

 

[masnachu]

Hey, Rob, are you planning to do another £100 offer? I passed your last offer to a mate of mine who signed-up at the end of December and got the £100 in his account, but he had to go into hospital (broke his leg palying football, silly sod!) and when he came out and logged in to his account the cash had disappeared. Called your helpline and was told, rather rudely he says, that the money was taken out as he hadn't used it and it was just tough luck, there was nothing she could do about it.

I had been showing him your platform, which I still think is one of the best out there, and he had become quite familiar with it.

Cheers.

Yep same here (although it wasn't me in hospital) , opened an account in Dec , didn't really have a chance to use it. While I realise the offer wasn't going to last forever , an email notifying people that the offer was about to be withdrawn and the more importantly the £100 removed, would have been nice .....

 

[ETX Capital]

I was upto £180 when I got put onto dealer intervention...I noticed that a trade got stopped out that shouldn't have as price was no where near ! so I called up, the guy said "oh sorry, I've accidentally closed the wrong trade and I've re-opened the short for you" ! - I looked at the platform and another short had appeared without me opening it. all very suspicious as I wouldn't have though an account with £180 in it would be going through to dealing desk...

Hi

Sounds very strange.

You're absolutley not on a manual dealer acceptance. The reason I can be certain of that is because no body is on manual acceptance for FX at the moment.

The only reason a deal comes through to us to accept or reject is when it breaches our autofill limit... which before you all ask , varies from time to time dependant on the underlying liquidity and what session we're in. Rest assured it is always big enough for over 90% of our spreadbetting clients.

If we had closed a trade incorrectly we would reestablish your exposure correctly . You would expect this to happen I assume if you had been taken out of a trade that you should still be in?

I'm sorry about the problems you had. It sounds to me like you got stopped out in error and the position was reestablished - an unfortunate icident but there is no ulterior motive linked to it.

The FX desk is open 24 hours a day and we're always happy to speak to you directly if you experience any problems.

Thanks for the post.

Rob.

 

[ETX Capital]

Yep same here (although it wasn't me in hospital) , opened an account in Dec , didn't really have a chance to use it. While I realise the offer wasn't going to last forever , an email notifying people that the offer was about to be withdrawn and the more importantly the £100 removed, would have been nice .....

Hi Masnachu

We sent an email to those clients who had not used their £100 top up offer on 17th December. The email explained that the offer was expiring on the 31st December if not used. The client needed to place a minimum of one trade before December 31st in order to retain the offer.

For clients who opened an account after the 17th December we notified them that the offer was due to expire on 31st December.

Sorry you were not able to use the offer in time.

Thanks, Rob.

 

[gamma]

I was upto £180 when I got put onto dealer intervention...I noticed that a trade got stopped out that shouldn't have as price was no where near ! so I called up, the guy said "oh sorry, I've accidentally closed the wrong trade and I've re-opened the short for you" ! - I looked at the platform and another short had appeared without me opening it. all very suspicious as I wouldn't have though an account with £180 in it would be going through to dealing desk...

I took the account to well over 800 pounds from the initial 100 and never experienced any dealer intervention.
All in all a good platform with good charting.

Aplogies for getting your name wrong Rob, I happened to be talking to Jason Rogers at the same time and got mixed up.

 

[montmorencyt2w]

I took the account to well over 800 pounds from the initial 100 and never experienced any dealer intervention.
All in all a good platform with good charting.

.

Good spreads?

 

[masnachu]

Hi Masnachu

We sent an email to those clients who had not used their £100 top up offer on 17th December. The email explained that the offer was expiring on the 31st December if not used. The client needed to place a minimum of one trade before December 31st in order to retain the offer.

For clients who opened an account after the 17th December we notified them that the offer was due to expire on 31st December.

Sorry you were not able to use the offer in time.

Thanks, Rob.

Not really a big issue Rob , but all emails from ETX have been kept , account opened beginning of Dec , and the only email I received around that time was the 22/12 notification of the christmas opening times. No problem , probably just one of those things.

 

[Jack Hughes]

Hi

Sounds very strange.

You're absolutley not on a manual dealer acceptance. The reason I can be certain of that is because no body is on manual acceptance for FX at the moment.


Rob.

Did he say it was FX, though? Does this imply that some people are on manual acceptance for indices, etc, and some people may have been for FX?

 

[advfntrader]

"at the moment" - well this incident happened in October I think. not used ETX since then

 

[potshot]

I have used them in the last weeks and haven't had a problem but I don't like the way they close the ftse at 8.55pm and then its open then closed again.

I have only put £200 in to try them out last week and only in a few days and I am up 50% haven't had the chance to trade with them since last thursday but seeing I win more than I lose I can see myself being put trader desk referral soon, something what would make me move straight away. I don't mess around trying to trade on dealer referrals because by the time a price is offered the market could of moved. Something I don't like is the 11 point away stop on the ftse, at times I like to use tight stops and sometimes I move to break even after the market has moved in my favour 7 or 8 pips what I can't do with ETX

I like flexibility something I can't see EXT will provide.

If I have too much problem with SB's in general then I going to use my prospreads account to trade but I can't get used to their platform.

 

[ETX Capital]

I have used them in the last weeks and haven't had a problem but I don't like the way they close the ftse at 8.55pm and then its open then closed again.

I have only put £200 in to try them out last week and only in a few days and I am up 50% haven't had the chance to trade with them since last thursday but seeing I win more than I lose I can see myself being put trader desk referral soon, something what would make me move straight away. I don't mess around trying to trade on dealer referrals because by the time a price is offered the market could of moved. Something I don't like is the 11 point away stop on the ftse, at times I like to use tight stops and sometimes I move to break even after the market has moved in my favour 7 or 8 pips what I can't do with ETX

I like flexibility something I can't see EXT will provide.

If I have too much problem with SB's in general then I going to use my prospreads account to trade but I can't get used to their platform.

Potshot

Thanks for your post. I'll go through your queries one by one...

Our FTSE will close at 20:58 each evening and re-open at 21:35. It then remains open until 20:58 the next evening. It did previously close at 20:50 for about 30 seconds, but we have taken on board your post and have now stopped closing at 20:50.

Tight Stops......If the price moves in your favour and you want to use a tighter stop than the system will allow, at breakeven for example, then the Index desk is very happy to take that instruction over the phone. The phone number of the Index desk is 020 7392 1492 and the desk is staffed 24 hours per day from Sunday 23:00 to Friday 21:13.

We have a maximum autofill trade size that is relative to the liquidity in the underlying market at a given time - should your trade size breach that autofill limit then your trade ticket will need to be manually accepted (or rejected) by the dealing desk.

That is the extent of our referall. Currently we have no Index clients on dealer referall because of their trading prowess - we have clients that will have their trade tickets go to referall because of the size, but our rejection rate is incredibly low, which it should be as we clearly have a slight advantage in the rates that we as a company are being quoted. And before you ask... the autofill limit changes during the day as liquidity comes and goes, but it's always big enough for the vast majority of our clients

Hope that answers your concerns.

Good luck, Rob.

 

[gamma]

I have used them in the last weeks and haven't had a problem but I don't like the way they close the ftse at 8.55pm and then its open then closed again.

I have only put £200 in to try them out last week and only in a few days and I am up 50% haven't had the chance to trade with them since last thursday but seeing I win more than I lose I can see myself being put trader desk referral soon, something what would make me move straight away. I don't mess around trying to trade on dealer referrals because by the time a price is offered the market could of moved. Something I don't like is the 11 point away stop on the ftse, at times I like to use tight stops and sometimes I move to break even after the market has moved in my favour 7 or 8 pips what I can't do with ETX

I like flexibility something I can't see EXT will provide.

If I have too much problem with SB's in general then I going to use my prospreads account to trade but I can't get used to their platform.

Dealer referral !

Yes
All £200 accounts are put on dealer referral if any profits are made on these accounts as it is a real threat to the financial stability of ETX capital
They employ an army of dealers at great cost to watch these £200 accounts.

 

[Ambrose Ackroyd]

They employ an army of dealers at great cost to watch these £200 accounts

And that is exactly why I never let my account go above £ 199.

If I get too close to the limit I deliberately lose a few trades to get back down again.

There aint no way that I will be on dealer referral, no sirree !!

 

[Ross Spur]

Titter ye not too heartily. ETX and most others might be OK these days, but in the past some SBs have put clients on referral after making piffling amounts of profit.

 

[brettus]

Potshot

Thanks for your post. I'll go through your queries one by one...

Our FTSE will close at 20:58 each evening and re-open at 21:35. It then remains open until 20:58 the next evening. It did previously close at 20:50 for about 30 seconds, but we have taken on board your post and have now stopped closing at 20:50.

Tight Stops......If the price moves in your favour and you want to use a tighter stop than the system will allow, at breakeven for example, then the Index desk is very happy to take that instruction over the phone. The phone number of the Index desk is 020 7392 1492 and the desk is staffed 24 hours per day from Sunday 23:00 to Friday 21:13.

We have a maximum autofill trade size that is relative to the liquidity in the underlying market at a given time - should your trade size breach that autofill limit then your trade ticket will need to be manually accepted (or rejected) by the dealing desk.

That is the extent of our referall. Currently we have no Index clients on dealer referall because of their trading prowess - we have clients that will have their trade tickets go to referall because of the size, but our rejection rate is incredibly low, which it should be as we clearly have a slight advantage in the rates that we as a company are being quoted. And before you ask... the autofill limit changes during the day as liquidity comes and goes, but it's always big enough for the vast majority of our clients

Hope that answers your concerns.

Good luck, Rob.

ive got 80 gbp in my etx account. Actually 73 gbp now, and i get rejected for a 1 gbp bet. not being funny but a contract size on ftse is 10 gbp a point. i'm pretty sure 10gbp>1gbp. Every single one of my bets goes to dealer referal, no matter what time of the day. Just because i better than you, you don't have to be mean about it.

 

[monkey180]

I am in a postion that I cannot close till the markets open on Sunday Evening, what happens if by the time the market (AUD/JPY) opens again for Trade with ETX, I am in the negative?

I have opened this position with the 100 pounds they give you.

Thanks