prospreads.com

[jungerns]

OK, good that is free for debit cards. Depositing by credit card on the other hand is quite expensive, 3% I feel is too much.

True but you have to wonder about people who fund via CC......??
Sure if its just convenience and you pay your card in full each month but 3% is obviously £30 on £1k and does the card get charged a cash advance fee as well, or does it go down as a purchase....??

 

[gle101]

True but you have to wonder about people who fund via CC......??
Sure if its just convenience and you pay your card in full each month but 3% is obviously £30 on £1k and does the card get charged a cash advance fee as well, or does it go down as a purchase....??

I have done it ones or twice, very small amount though. I think it will be charged as advance cash fee, so one pay interest from day one. The problem I have found is, that all debit cards doesn't work everywhere. Some SB do not charge depositing by credit card for the first funding.

 

[Pat494]

The £1,000 deposit is going to put off the small guy imho

 

[jungerns]

The £1,000 deposit is going to put off the small guy imho

It is £500 for the mini lots.......

 

[Pat494]

It is £500 for the mini lots.......

thanks
Their backtesting looks good I was thinking of having a trial free go.

 

[Visaria]

I've opened a live account here now.

 

[Pat494]

I've opened a live account here now.

Hopefully you will let us know how you get on ?

 

[Trader1UK]

Hoping to give prospreads a live try very soon..
Do prospreads allow scalping?

Also, what amount of the funds are guaranteed if they go under?

thanks

 

[jungerns]

Hoping to give prospreads a live try very soon..
Do prospreads allow scalping?

Also, what amount of the funds are guaranteed if they go under?

thanks

If you are classified as a Professional trader than it is Zero......
I cant open the email for some reason re retail, but think it was £50,000

Please check though first.

 

[Visaria]

£20k limit for retail, zero for professionals.

And, yes, u can scalp to your heart's content.

 

[Trader1UK]

Thankyou guys,, appreciated.
Will give prospread a live test soon.. will report back when i can...

 

[rawrschach]

Hi Simon, I managed to get on a PC as I wanted to test the platform out and am trying to get to grips with it. When you place an buy stop order on the ladder, is there a way to then place the stop loss and target at the same time? Or do I have to wait until the order price is filled?

A feature that Ninjatrader has which would be very useful on your price ladder would be the ATM strategy where you can set multiple targets and stop losses.

yknow citrix runs on mac os x right?

 

[gle101]

I would like to have a feedback from someone who are trading live with Prospreads about the actual spread on the indies (market spread+commission). For the sake of getting a clear picture of this lets say that the market spread is "fixed" (I know it is variable) on YM future it is 1 point, Nasdaq NQ future 0.25 point, S&P 500 ES future 0.25 point, DAX FDAX future 0.50 point, FTSE Z future 0.50 point. What are you actually paying in total spread? Let us then compare it to Capitalspreads rolling daily indices. Which one is a better deal? Please no SB vs DMA comparison, I'm just interested in the price you pay to get into the position and to close it (a round trip).

 

[Visaria]

I would like to have a feedback from someone who are trading live with Prospreads about the actual spread on the indies (market spread+commission). For the sake of getting a clear picture of this lets say that the market spread is "fixed" (I know it is variable) on YM future it is 1 point, Nasdaq NQ future 0.25 point, S&P 500 ES future 0.25 point, DAX FDAX future 0.50 point, FTSE Z future 0.50 point. What are you actually paying in total spread? Let us then compare it to Capitalspreads rolling daily indices. Which one is a better deal? Please no SB vs DMA comparison, I'm just interested in the price you pay to get into the position and to close it (a round trip).

I traded live with Prospreads on Friday, but not the indices. I traded CL (crude oil). The underlying market price was 96.00-96.01. I went long at 96.01. Since Prospreads charge 0.0075 spread, the actual price i entered the position was 96.0175. I exited when the market went to 96.10-96.11, in which case my actual exit price was 96.0925. So the actual spread in total was 2.5 ticks.

The same would happen with indices, you would trade at the underlying market price, but the actual price that you would receive would have Prospread's spread tacked on.

ES total spread would be 0.25+.2+.2=0.65

 

[R.Charnock]

I would like to have a feedback from someone who are trading live with Prospreads about the actual spread on the indies (market spread+commission). For the sake of getting a clear picture of this lets say that the market spread is "fixed" (I know it is variable) on YM future it is 1 point, Nasdaq NQ future 0.25 point, S&P 500 ES future 0.25 point, DAX FDAX future 0.50 point, FTSE Z future 0.50 point. What are you actually paying in total spread? Let us then compare it to Capitalspreads rolling daily indices. Which one is a better deal? Please no SB vs DMA comparison, I'm just interested in the price you pay to get into the position and to close it (a round trip).

I don't think the spreads have changed. It's still 2pt each side for YM and 0.5 for Z, so that equals 5pt overall for YM, 1.5pt for Z. DAX at 0.5 + (0.28 x 2) seems like the best deal, except that the margin is much higher, as per the real contract.

 

[gle101]

I don't think the spreads have changed. It's still 2pt each side for YM and 0.5 for Z, so that equals 5pt overall for YM, 1.5pt for Z. DAX at 0.5 + (0.28 x 2) seems like the best deal, except that the margin is much higher, as per the real contract.

Thanks a lot. Yes I came to the same conclusion that the DAX is the best deal to be traded with PS.

 

[fibbinstarchi]

Where they let themselves down is the spread, it's too wide, simple. If they want to clear up the sb market they have to get with the program and offer what the others don't - the narrowest spreads and fastest execution, until they do this they are just another choice like all the others, it's not rocket science, and their execution is not that fast, I had a live account and around high volume times I got shafted on slippage no different than CMC and the others.

 

[R.Charnock]

Apparently PS now offers Multicharts, but there's nothing on the site about it?

 

[gle101]

Where they let themselves down is the spread, it's too wide, simple. If they want to clear up the sb market they have to get with the program and offer what the others don't - the narrowest spreads and fastest execution, until they do this they are just another choice like all the others, it's not rocket science, and their execution is not that fast, I had a live account and around high volume times I got shafted on slippage no different than CMC and the others.

I agree, on some on the indices they are just too expensive. One has to pick one or two, like the DAX for example. If one compare them to trading the futures with a broker like IB they are too expensive. On the other hand when they offer mini-lots and trading these one have to compare them with other SB, but they offer no restrictions on orders. You say you were shafted on slippage during news, well that is a thing that can happened trading the real market during news with market orders. I can't really tell I haven't traded with them live but I would be really surprised if they played any sort of games against you.

 

[R.Charnock]

I agree, on some on the indices they are just too expensive. One has to pick one or two, like the DAX for example. If one compare them to trading the futures with a broker like IB they are too expensive. On the other hand when they offer mini-lots and trading these one have to compare them with other SB, but they offer no restrictions on orders. You say you were shafted on slippage during news, well that is a thing that can happened trading the real market during news with market orders. I can't really tell I haven't traded with them live but I would be really surprised if they played any sort of games against you.

If they're offering mini-lots they must use a different system for hedging, which almost inevitably increases the possibility of extra 'slippage' (in addition to that which you might get in the real market).