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Do you mean like these? (never used them though)
Professional Spread Betting Trading Platform | ProSpreads
Professional Spread Betting Trading Platform | ProSpreads
kevin sims
Newbie
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Yes ProSpreads prices are from the underlying market and not based around the market as 99% of other spreadbetting companise are
iBet Financials has exactly what you need....to offer me the facility to place orders such as a stop BASED on the underlying market as opposed to on their quote.
Any one know of any?
I bet you it's not a good idea to trade with the company suggested by above post because:
“Client Money” protection is not available. Your account will not sit in the
firm’s client money segregated pool. In the event of Kyte’s insolvency, you are
“at risk” at the same level as a general creditor when spread betting.
http://www.kytegroup.com/support/pdf/ibet.pdf
“Client Money” protection is not available. Your account will not sit in the
firm’s client money segregated pool. In the event of Kyte’s insolvency, you are
“at risk” at the same level as a general creditor when spread betting.
http://www.kytegroup.com/support/pdf/ibet.pdf
capitalspreads
Experienced member
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visaria
it might sound a good idea for the market to have to reach a printed (quoted) price before a stop gets activated but this is only of concern in the few markets that have a cash price derived from a futures price (i.e the indices markets).... this functionality is already offered in futures priced markets . If you want this functionality you should just trade in the forward dates..(i.e December FTSE) and accept a slightly wider spread. Not only this if you specify an underlying market price that must be hit this would not be the price you get filled at.
For instance if you said that the actual FTSE 100 must trade at 5485 before your stop is activated ... the actual price being quoted by the market maker may be miles away from this price by the time the cash FTSE market has caught up and you would then be filled at this (considerably worse) price.
all other markets are based on the underlying quote.
Simon
it might sound a good idea for the market to have to reach a printed (quoted) price before a stop gets activated but this is only of concern in the few markets that have a cash price derived from a futures price (i.e the indices markets).... this functionality is already offered in futures priced markets . If you want this functionality you should just trade in the forward dates..(i.e December FTSE) and accept a slightly wider spread. Not only this if you specify an underlying market price that must be hit this would not be the price you get filled at.
For instance if you said that the actual FTSE 100 must trade at 5485 before your stop is activated ... the actual price being quoted by the market maker may be miles away from this price by the time the cash FTSE market has caught up and you would then be filled at this (considerably worse) price.
all other markets are based on the underlying quote.
Simon
iBet Financials has exactly what you need.
if you have 30k to put in your account.
Alex2006 - your point is very valid indeed and at least this fact is clearly stated by Kyte Group. However, one should also bear in mind that
a) Kyte Group's business is predominately DMA activity and customers can only trade within their pre-fdefined electronic limits and margin. Its IMPOSSIBLE to break these.
There is a clear logistical and operational reason why iBet customers funds sit in the non-seg pool and I am happy to explain this to you over a phone call if you wish.
b) Segregated funds are also not exempt from the creditors in MF Global like situations.
a) Kyte Group's business is predominately DMA activity and customers can only trade within their pre-fdefined electronic limits and margin. Its IMPOSSIBLE to break these.
There is a clear logistical and operational reason why iBet customers funds sit in the non-seg pool and I am happy to explain this to you over a phone call if you wish.
b) Segregated funds are also not exempt from the creditors in MF Global like situations.
Alex2006 - your point is very valid indeed and at least this fact is clearly stated by Kyte Group. However, one should also bear in mind that
a) Kyte Group's business is predominately DMA activity and customers can only trade within their pre-fdefined electronic limits and margin. Its IMPOSSIBLE to break these.
There is a clear logistical and operational reason why iBet customers funds sit in the non-seg pool and I am happy to explain this to you over a phone call if you wish.
b) Segregated funds are also not exempt from the creditors in MF Global like situations.
Do you work for them, and if so can you say which platforms are supported? Anyone offering SB with Ninja or similar will find plenty of interest.
Apols for delay in replying.
I used to be able to place a stop order which was based on the underlying market, such that if that price was hit in the underlying market, the spreadbet company would do a trade at their current quote. For example, if the Dec FTSE went to 5550 on LIFFE, the spreadbet company would execute a market order on their Dec FTSE at their quote, which might be 5548-5552, for example.
Worldspreads used to do this till a few weeks ago. Finspreads used to do this for years, they stopped some time ago. CMC, in their heyday, used to do this (i used to trade so heavily with them! - now they have some weird cash quotes on everything). Anyway, I can't find a SB company that still offers this. They all base their stop orders on their quote i.e. if their quote goes to that price, you are filled. I want stops based on the underlying market.
That's what i am looking for. I understand the DMA spreadbet firms such as prospreads must do this, but i like to do pounds per point (due to the granularity) rather than deal in full contract sizes.
I used to be able to place a stop order which was based on the underlying market, such that if that price was hit in the underlying market, the spreadbet company would do a trade at their current quote. For example, if the Dec FTSE went to 5550 on LIFFE, the spreadbet company would execute a market order on their Dec FTSE at their quote, which might be 5548-5552, for example.
Worldspreads used to do this till a few weeks ago. Finspreads used to do this for years, they stopped some time ago. CMC, in their heyday, used to do this (i used to trade so heavily with them! - now they have some weird cash quotes on everything). Anyway, I can't find a SB company that still offers this. They all base their stop orders on their quote i.e. if their quote goes to that price, you are filled. I want stops based on the underlying market.
That's what i am looking for. I understand the DMA spreadbet firms such as prospreads must do this, but i like to do pounds per point (due to the granularity) rather than deal in full contract sizes.
Why not try ProSpreads, I know from experience that my stop only get's filled when the actual market trades there.Apols for delay in replying.
I used to be able to place a stop order which was based on the underlying market, such that if that price was hit in the underlying market, the spreadbet company would do a trade at their current quote. For example, if the Dec FTSE went to 5550 on LIFFE, the spreadbet company would execute a market order on their Dec FTSE at their quote, which might be 5548-5552, for example.
Worldspreads used to do this till a few weeks ago. Finspreads used to do this for years, they stopped some time ago. CMC, in their heyday, used to do this (i used to trade so heavily with them! - now they have some weird cash quotes on everything). Anyway, I can't find a SB company that still offers this. They all base their stop orders on their quote i.e. if their quote goes to that price, you are filled. I want stops based on the underlying market.
That's what i am looking for. I understand the DMA spreadbet firms such as prospreads must do this, but i like to do pounds per point (due to the granularity) rather than deal in full contract sizes.
Because:
I understand the DMA spreadbet firms such as prospreads must do this, but i like to do pounds per point (due to the granularity) rather than deal in full contract sizes.
capitalspreads
Experienced member
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- 79
viseria
as mentioned if you just trade the futures on the SB platforms.. for instance currently Capital Spreads quotes the Dec Future (admittedly 4 points wide). The price we quote is always based around the current bid/offer in the real futures market so for CS to quote 5510-5514 the futures must be trading at least at 5512 i.e. 5512/12.5 or 5511.5/12 (unless the bid offer is ridiculously wide). If you base your stops around two points Higher (if you are short) or two points lower (if long) than the real trading price you are looking to be triggered on then you should 99% of the time be sure that the markets traded at the level you require for a trigger
Simon
as mentioned if you just trade the futures on the SB platforms.. for instance currently Capital Spreads quotes the Dec Future (admittedly 4 points wide). The price we quote is always based around the current bid/offer in the real futures market so for CS to quote 5510-5514 the futures must be trading at least at 5512 i.e. 5512/12.5 or 5511.5/12 (unless the bid offer is ridiculously wide). If you base your stops around two points Higher (if you are short) or two points lower (if long) than the real trading price you are looking to be triggered on then you should 99% of the time be sure that the markets traded at the level you require for a trigger
Simon
Simon, yes, that is what i am indeed doing at present. You may then be wondering what the problem is. The issue is that I am at the mercy of the spreadbet company who could simply widen their spread and take me out i.e. instead of a 4 point spread , they suddenly go to 5 points and it just happens then that the bid (or offer ) is where my stop is.
Any advice?
Any advice?
Simon, yes, that is what i am indeed doing at present. You may then be wondering what the problem is. The issue is that I am at the mercy of the spreadbet company who could simply widen their spread and take me out i.e. instead of a 4 point spread , they suddenly go to 5 points and it just happens then that the bid (or offer ) is where my stop is.
Any advice?
I think I remember TwoWaySpreads offering this option for every trade.
I think I remember TwoWaySpreads offering this option for every trade.
Luc
TwoWay used to white Label the old ProSpreads ( FuturesBetting ) platform, I know this as I went through TwoWay to get the platform.
