Not sure I understand that. There is nothing better than talking to the MMs (not possible for retail clients obviously). The 'actual' market is a lot different from the 'displayed' market (except maybe SETS). As for SB I suppose you have to understand the way it works, compared to trading in the market, and don't bet if it doesn't suit.
Post your bad spread bet fills here, research needed!
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Not sure I understand that. There is nothing better than talking to the MMs (not possible for retail clients obviously). The 'actual' market is a lot different from the 'displayed' market (except maybe SETS). As for SB I suppose you have to understand the way it works, compared to trading in the market, and don't bet if it doesn't suit.
Truth Seeker
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Having had SB accounts, including CMC, for about the same time as you I'm aware that Deal4Free's reputation wasn't exactly perfect, but a lot of people still used them. In recent years they must have lost a lot of business to the opposition, hence the launch of Next Gen. But 'a desperate act'? I hardly think so.
IMO, what you need to do is make a decent amount (say a hundred) of real trades, recording any delays, suspect fills, spread widening, etc, then post the results. This wouldn't take long and if you used a mininal stake the potential cost would be small. Of course, if the platform does work reliably and you're an ace trader it wouldn't cost anything and you'd have had the satisfaction of taking money off CMC.
Hi Ross
To say CMC's reputation wasn't perfect is an understatement, and the only type of people who used them were the new £1k sign ups, and traders with sadomasochistic tendencies. There's always another one poor soul around the corner to sign up eh?
Regarding the research side, yes, I will do what I can, that's why I would like other spread betting traders to share their experiences too, and not just CMC. I trade a few different methods across many platforms so my hands will be full, but I'm sure there will be plenty of opportunities for me to post my findings. Let's club together and make this work, as I said, we will get people trying to ruin it, and it's already started, but if we ignore them they should go away, if not I will get on to T2W and ask them to be banned from our thread as they won't be adding to our topic.
barjon
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barjon
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truth,
Firstly, I would agree with others that you do not help the topic of your thread by slapping against CMC.
Secondly, it seems to me that, like most businesses, SBs will seek to protect their interests and the ways that they can do this are enshrined within their Terms & Conditions. If you sign up to those T&Cs then you have no cause for complaint so long as the SB is not in breach of them, however "unfair" you may consider them.
I would think that there is a similarity in most of the different companies' T&Cs (and that they have probably had the once over by FSA) but if you really want to do some serious research then comparison between T&Cs is the logical starting point.
From there it's a question of identifying which, if any, of the SBs operate in breach of their T&Cs (or, rather more in the grey, the "spirit" of them) and/or adopt "unfair" tactics that are not covered by T&Cs.
jon
Firstly, I would agree with others that you do not help the topic of your thread by slapping against CMC.
Secondly, it seems to me that, like most businesses, SBs will seek to protect their interests and the ways that they can do this are enshrined within their Terms & Conditions. If you sign up to those T&Cs then you have no cause for complaint so long as the SB is not in breach of them, however "unfair" you may consider them.
I would think that there is a similarity in most of the different companies' T&Cs (and that they have probably had the once over by FSA) but if you really want to do some serious research then comparison between T&Cs is the logical starting point.
From there it's a question of identifying which, if any, of the SBs operate in breach of their T&Cs (or, rather more in the grey, the "spirit" of them) and/or adopt "unfair" tactics that are not covered by T&Cs.
jon
tar
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T&C's are the same between MM the difference is minimal , what is important is to see if brokers do deliver what they claim : spreads , fills ... etc
Truth Seeker
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Hi
I have stated more than once I want reports from all spread bet companies. I have linked to this thread on most spread bet companies own threads to this thread which also shows you I'm not on a witch hunt. I can't help it if CMC are the worst so far, we will see.
On the legal side once I gather my evidence I am going approach a legal representative who will then on my behalf look in to the terms and conditions and see if they are breach of them, but these companies are not stupid, they will have a clause for most of their actions I'm sure.
The purpose of this thread is for us, the spread betting clients to group together and share our experiences how it affects us at a profit level
Then once the worst companies are exposed, as my pops used to say 'the cream always rises to the top'
This way, we win, they can try their tricks and stay within their own T&C's but we will WALK.
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Like I said before I think it would be very interesting to simultaneously watch price movements in a variety of accounts from a single spread bet company. I'd bet prices wouldn't be the same when you had an open position. Likewise I'm pretty sure your platform wouldn't freeze so much. It's only a matter of time before the press or someone else does this. I'm sure there would be some interesting excuses then like 'it's a browser problem', 'slow internet' or 'the dog ate my homework'.
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I will answer a question that was raised earlier but not in the correct manner. It was mentioned why would I who earns good money trading across many platforms bother to waste my time (or words to that effect).
I will tell you why. It's pure greed. I will try to explain to you why. Just say you earn £100k in one account with a normal broker, you will be looking to be giving away 40% for taxes etc. If you earn £100k through spread betting, you keep the lot. It's simple maths really, I want to keep all what earned. I pay taxes in a separate small account that I trade, but I want to earn as much as I can through spread bet, tax free, now you know.
I will tell you why. It's pure greed. I will try to explain to you why. Just say you earn £100k in one account with a normal broker, you will be looking to be giving away 40% for taxes etc. If you earn £100k through spread betting, you keep the lot. It's simple maths really, I want to keep all what earned. I pay taxes in a separate small account that I trade, but I want to earn as much as I can through spread bet, tax free, now you know.
This was exactly my point, I was referring to how orders are filled, SB versus DMA.
Sounds a bit like paranoia, there. How would they do that? And why would they bother, as most people lose?
To know that you'll need to have far more evidence.
No need to, he reflect thoughts and feelings about SB that was valid 5 years ago. Today SB overall is doing very well. I myself can compare to previously trading stocks, options, warrants and futures. Anyway, in the end responsibility falls on the trader, when to trade SB and when not, not to find a scape goat for inexperience or not succeeding as a trader. I have said it many times before and say it again, if you don't get it right trading SB, you want get it right trading the real market either.
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tar
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Reminder :smart:
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tar
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Ofcourse not , but if they did it represents them only and not T2W ...
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If you don't understand this thread then either read over it again, it's simple enough, or don't post here then Ross, bye, and good luck with your trades.
tar
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The clause is very clear i don't know how u and Ross cant understand it , this is the nature of BB , T2W is not responsible for everything is written here that's ridiculous . CMC is a great company with +75K active clients do you really think if someone is "ranting" about them requires all this attention , let him write what he wants , trading related forums are full of this "bucket shop ranting" ... etc , just before few days he was interacting with Peter very nicely , but because of the bashing and the attacking he reacted that way ...
Truth Seeker
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Most people lose trading forex but that doesn't stop forex brokers ripping them off with slippage. The difference in forex is that they are starting to get caught.
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