paddypowertrader stoploss issues!

[timmay]

Hi, I'm new here to trade2win and have been only messing around with this whole trading game for a month or so! Anyways, I have been using the Paddypowertrader demo account, and am getting the hang of it, I'm still not making a consistant profit but am learning at least!

Anyways, I'm having problems with paddypower not letting me place stop losses! Say for example I took out a £1 stake in the DAX30, paddypowers automatic stop loss is -160, I tried to drop it to -10 which is the minimum allowed, and it says

Your order was not amended. Server response: '[12:16] Stop level not in acceptable range.'

If I set the limit a bit lower and click it again it might set in. This happens to me maybe 1/4 of the time, although it seems to vary, some days I've no problems with stop losses and other days it might not let me change the stop loss at all (And I know if the stock has dropped valve between the time of me purchasing it and changing the stoploss, I obviously cant still have a stop loss 10points below my buy in then)

This is all a big pain because if the trade goes against me I loose more!

Anyone else have this problem, is it only with the demo account or what?

 

[trotsky]

I gave up on PPT today. The flash demo account is terrible and I hope its not a reflection of their live product. I had orders trading no where near where I put them, opening and closing within seconds and droppping 200 points in that time, without any such movement on the real market. Orders would appear in the account transaction tab at a completely different level where I had opened. Unable to close orders on profit. Markets opening 30-40 after it really opened if there was a gap. Hitting stop losses where there was no action or spike to that level on any chart down to 1 minute..

All over the place really.

Does anyone know how much this platform reflects the live account?

Just a terrible demo setup, I hope

 

[Jack Hughes]

I gave up on PPT today. The flash demo account is terrible and I hope its not a reflection of their live product. I had orders trading no where near where I put them, opening and closing within seconds and droppping 200 points in that time, without any such movement on the real market. Orders would appear in the account transaction tab at a completely different level where I had opened. Unable to close orders on profit. Markets opening 30-40 after it really opened if there was a gap. Hitting stop losses where there was no action or spike to that level on any chart down to 1 minute..

All over the place really.

Does anyone know how much this platform reflects the live account?

Just a terrible demo setup, I hope

The real account platform is pretty good, but the 1pt spread on Dow seems to have been terminated already.

 

[timmay]

Another issue I have with the PPT demo is 1/2 the time there is no chart available. I got sick of PPT anyways and opened a demo account with capital spreads a few days ago, who are using the same platform as paddy power. Their platform seems a bit better, charts work all the time and no issues with actually setting stop losses and limits. HOWEVER, it will not activate any of these stop losses or limits at all, I bought gold a few days ago, just before it dropped completely, and had set a tight stop loss of -20points, but it simpley sailed through this and is sitting at -200points at the minute. That really gives me enough confidence to go take out a real account with them!!

 

[gle101]

Another issue I have with the PPT demo is 1/2 the time there is no chart available. I got sick of PPT anyways and opened a demo account with capital spreads a few days ago, who are using the same platform as paddy power. Their platform seems a bit better, charts work all the time and no issues with actually setting stop losses and limits. HOWEVER, it will not activate any of these stop losses or limits at all, I bought gold a few days ago, just before it dropped completely, and had set a tight stop loss of -20points, but it simpley sailed through this and is sitting at -200points at the minute. That really gives me enough confidence to go take out a real account with them!!

I have been trading live with CS for many years. Very few problems with stops I must say, in the very few cases when the stop loss have not been activated, I have called them up and they have honored my original stop loss level.

 

[top trader]

Try Dealingdesk's demo account, white lable of Capitalspreads, lower spreads and better palform than even Capital, 2 points in DOW.

 

[jontyxxxx]

I had terrible problems with Paddy Power over stop losses and wouldn't recommend them to anyone. The are Irish bookies after all and whilst partially regulated by the FSA they play to their own rules which appear to be to fleece you wherever they can get away with it!

 

[nanakadragonu]

I gave up on PPT today. The flash demo account is terrible and I hope its not a reflection of their live product. I had orders trading no where near where I put them, opening and closing within seconds and droppping 200 points in that time, without any such movement on the real market. Orders would appear in the account transaction tab at a completely different level where I had opened. Unable to close orders on profit. Markets opening 30-40 after it really opened if there was a gap. Hitting stop losses where there was no action or spike to that level on any chart down to 1 minute..

All over the place really.

Does anyone know how much this platform reflects the live account?

Just a terrible demo setup, I hope

hi
Not only the demo the real account actually worst.it is likely to move like you said 100-200 points against you while the real market dont really move.Many times they close your bet at your stop limit and 10-20 points later (MAGIC) the prices start to move to the right direction for you so you just miss to make money.actually i checked they prices against real prices and there is allways a little difference between the two prices.many times just enough to hit your stop limit to make sure you loose.after two months of loosing i just give up and close my account with them.YOU HAVE NO CHANCE TO WIN WITH PADDYPOWER

 

[pboyles]

You are placing bets with a bookie who is allowed to change the results of the race, would you do that with horses? That is effectively what happens with spreadbetting, the bookie decides the results regardless of where the real Market goes and imposes a limit on how little you can risk, daylight robbery.

 

[montmorencyt2w]

I had terrible problems with Paddy Power over stop losses and wouldn't recommend them to anyone. The are Irish bookies after all and whilst partially regulated by the FSA they play to their own rules which appear to be to fleece you wherever they can get away with it!

Aha, the Ryanair of the spread betting world.

 

[pboyles]

consider the spread your baggage charge.

 

[Jack Hughes]

Just watch out for the volcanic ash.

 

[nanakadragonu]

You are placing bets with a bookie who is allowed to change the results of the race, would you do that with horses? That is effectively what happens with spreadbetting, the bookie decides the results regardless of where the real Market goes and imposes a limit on how little you can risk, daylight robberry

You are righ

Cost me a few grand to realize that.how they are alloved to do that?there is no one looking after issues like that?some organisation?
Thanks

 

[Jack Hughes]

International Rescue.

 

[nanakadragonu]

yeah thanks

 

[jaswells]

I have complained about PPT on here before. A few months ago they ran a EUR/USD stop on my account 60 pips out of whack from any other quoted market I could find. I've had my fair share of wins and losses and this was not just sour grapes. This bunch are crooks. Closed my account and not been back since.

 

[lcgbad]

Hi everyone,

from what I've been reading about PPT it looks like I'm not the only one being stung by them, I've been making trades which have made me profits of up to +£800 from these guys just for them to turn around and tell me that they have been providing me incorrect prices for these trades and took all of my profit without consulting me, that to me sounds like theft!!! and I am not happy to take it on the chin, does anyone know or were planning on reporting / sueing this company?

any help or backup would be much appreciated.

 

[stevespray]

Hi everyone,

from what I've been reading about PPT it looks like I'm not the only one being stung by them, I've been making trades which have made me profits of up to +£800 from these guys just for them to turn around and tell me that they have been providing me incorrect prices for these trades and took all of my profit without consulting me, that to me sounds like theft!!! and I am not happy to take it on the chin, does anyone know or were planning on reporting / sueing this company?

any help or backup would be much appreciated.

Financial Spreadbets are legally binding. This means that they cannot simply reverse the trades without your agreement. Simply contact them in writing specifying that you are not accepting the amendments to your account. They'll have little choice but to put matters right.

 

[lcgbad]

Financial Spreadbets are legally binding. This means that they cannot simply reverse the trades without your agreement. Simply contact them in writing specifying that you are not accepting the amendments to your account. They'll have little choice but to put matters right.

Thanks for the quick response, I have contacted them and they're trying to give me the run-around which I was expecting from them, at the moment they're showing me screenshot of what the real price is from a completely different system that we have no access to so I can only take their word for it which I am trying to laugh off but from reading other user's comments about this company I am saddened to hear that they're trying all these underhanded tactics like manipulating prices to force stop-loss executions and delaying trades at important times to stop people make a quick buck so now I have no sympathy for this company and would like to see if they really are untouchable to the FSA, OFT, small claims court and whatever is out there who are supposed to protect us from these crooks.

 

[pboyles]

Stop spreadbetting, they will always find a way to rip you off.