Hello all

[Luminox]

My name's Dave and I work for Spreadex. What do you guys think of our service/platform/spreads/site, etc?

Be as kind or as brutal as you like!

 

[Jack Hughes]

Don't have an account, but as you asked for feedback I've just looked at your site. My brief impression is that the spreads seem wide - 3pt DAX, 5pip EUR/USD, for instance?

Also, as a promotion, wouldn't it be better to offer a free £100 top-up or deposit match, as per the competition? Refunding losses up to £200 is just an invitation to trade recklessly, in a way that you wouldn't if you were spending real money. I'd guess that most people would just blow the account and then give up without using the platform much.

 

[neil]

Dave...a facility to set a pending order would be nice

 

[Luminox]

Dave...a facility to set a pending order would be nice

You mean this? :innocent:

 

[neil]

You mean this? :innocent:

Smartypants....shows how long ago I looked

Shorts and Longs is Spreadex now...therefore same platform?

 

[Luminox]

Don't have an account, but as you asked for feedback I've just looked at your site. My brief impression is that the spreads seem wide - 3pt DAX, 5pip EUR/USD, for instance?

Also, as a promotion, wouldn't it be better to offer a free £100 top-up or deposit match, as per the competition? Refunding losses up to £200 is just an invitation to trade recklessly, in a way that you wouldn't if you were spending real money. I'd guess that most people would just blow the account and then give up without using the platform much.

It's a fair point, Spreadex aren't the cheapest. :whistling

It's difficult to find the balance between offering something beneficial to people with whom you could do future business without providing an opportunity for that benefit to be taken advantage of. £200 refund against net loss would allow people to trade recklessly in one respect because it isn't their money/risk so long as they ensure their losses stay below £200.

I understand your point, and promotions are reviewed regularly. Thanks for your comments, Jack.

 

[montmorencyt2w]

Are your stops alll free guaranteed, like S&L?

 

[jonty123]

as mentioned spreads are ridiculously expensive compared to tradefair, ig etc.

until they come down im sure a lot of people wont even bother opening an account.

 

[Luminox]

Smartypants....shows how long ago I looked

Shorts and Longs is Spreadex now...therefore same platform?

Ahh, thought you might have meant S&L. Sorry Neil, You're right - on S&L there is no order to open, and it is pretty much the most requested update to the site (being a pain in the backside!).

S&L is the sister company of Spreadex (basically the same!), they exist separately from each other but under the same registration number.

S&L offers free guaranteed stops, tighter spreads, la-dee-da-dee-da, and so on. It aims to cover what Spreadex doesn't and vice versa.

 

[Jack Hughes]

Ahh, thought you might have meant S&L. Sorry Neil, You're right - on S&L there is no order to open, and it is pretty much the most requested update to the site (being a pain in the backside!).

S&L is the sister company of Spreadex (basically the same!), they exist separately from each other but under the same registration number.

S&L offers free guaranteed stops, tighter spreads, la-dee-da-dee-da, and so on. It aims to cover what Spreadex doesn't and vice versa.

Does anyone ever open a SB account because they prefer wider spreads?! I have to agree with the poster above that few will try Spreadex unless the spreads are reduced.

 

[trillionaire]

My biggest gripe is the amount of small cap AIM stocks you have to phone to place a bet, rather than deal online (just about anything under 10p)...it defeats the purpose of online. I have asked your dealers about it and they have stated "It's a liquidity issue", though when I reply that I can lay a bet using the same stock online via IG....they have literally no reply.
Also the website revamp could have learn't from the market leader in both share and platform - IG, with Reuters/realtime NTR depending upon your funds/ News link to each stock/charts for everything non -existent with your revamp....
Anyway your customer services is still very good!

 

[Luminox]

My biggest gripe is the amount of small cap AIM stocks you have to phone to place a bet, rather than deal online (just about anything under 10p)...it defeats the purpose of online. I have asked your dealers about it and they have stated "It's a liquidity issue", though when I reply that I can lay a bet using the same stock online via IG....they have literally no reply.
Also the website revamp could have learn't from the market leader in both share and platform - IG, with Reuters/realtime NTR depending upon your funds/ News link to each stock/charts for everything non -existent with your revamp....
Anyway your customer services is still very good!

Good point - this is somehting that has been recognised. we are adding 300 small cap AIM stocks to our site very soon. The list has been compiled, we're waiting on IT! Our traders have no reply because what you're saying is right; you want something that we can't offer you that someone else can!

In terms of the site/platform, there are SO many ideas/updates in line for application it's just a matter of doing them as and when we can. Pretty rubbish response to that I know, but we're working on it!

Good to hear our customer service is still of a high standard - it's something we pride ourselves on.

 

[Paul-B]

As everyone else is saying, spreads are far too wide. Why should I sign-up with Spreadex when my Capital and ETX accounts, for example, have much narrower spreads.

It would be pointless!

 

[montmorencyt2w]

As everyone else is saying, spreads are far too wide. Why should I sign-up with Spreadex when my Capital and ETX accounts, for example, have much narrower spreads.

It would be pointless!

Spreadex are the people behind S&L aren't they? When they started, S%L spreads didn't seem too bad, but they seem to have widened, at least some. They will say, "ah, but they are guaranteed stops which is worth paying for". Well maybe. For another view on that, have a look at the links I posted in the Capital Spreads thread recently.

 

[Jack Hughes]

Spreadex are the people behind S&L aren't they? When they started, S%L spreads didn't seem too bad, but they seem to have widened, at least some. They will say, "ah, but they are guaranteed stops which is worth paying for". Well maybe. For another view on that, have a look at the links I posted in the Capital Spreads thread recently.

Don't have a S&L account, but maybe they widened the spreads when they added charts to their platform?

 

[Lord Flasheart]

What are the reasons we should join spredex? what are the advantages? Do you hold our bets for a few seconds to see if it goes your way? what do you do with winning traders,have you ever barred any for winning? Why are your spreads not competitive(that alone implies you are only after poor traders). Thanks

 

[montmorencyt2w]

What are the reasons we should join spredex? what are the advantages? Do you hold our bets for a few seconds to see if it goes your way? what do you do with winning traders,have you ever barred any for winning? Why are your spreads not competitive(that alone implies you are only after poor traders). Thanks

I don't know about that last bit, but maybe I can ask Luminox what Spreadex covers that S&L doesn't?


Julian,

I haven't looked for it recently, but I think if you go to the home page of the site whose links I posted above, and look around, you should also find an interview with the boss of Spreadex. There are some interesting comments (and revealing too, if you read carefully)

 

[trillionaire]

"I don't know about that last bit, but maybe I can ask Luminox what Spreadex covers that S&L doesn't?"

- Most of the small caps

 

[top trader]

i sent them an email complaining why 2 point spread in ft and 3 in dax ( also why 3 in cable and 5 in euro). their answer was "business decision".

many s/b companies offer 1 point spread in ft/dax/euro , 2 in cable and 2 in dow plus 24 hours trading.

spreadex has a long way to go.

 

[Jack Hughes]

i sent them an email complaining why 2 point spread in ft and 3 in dax ( also why 3 in cable and 5 in euro). their answer was "business decision".

many s/b companies offer 1 point spread in ft/dax/euro , 2 in cable and 2 in dow plus 24 hours trading.

spreadex has a long way to go.

A 'business decision' in that they don't want any business?