prospreads.com

tar

Well-known member
Nov 18, 2006
10,441
1,308
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#62
Its overnight

daytime margins are 1/4 th of the above

I'm an active trader with Prospreads for last 4 weeks - blisteringly fast platform and good tight spreads.
Tight spreads ! they have huge commissions ...
 
Feb 15, 2008
23
0
11
#64
Tight spreads ! they have huge commissions ...
I'm sorry Tar - you are wrong there. They have NO commissions - My current FTSE trades are at 1 point spread and that will go down to 0.5 after 200 trades. Nothing ELSE... ZILCH. I'm already up 10% after 2 weeks of trading. I'll be up another 1-2% tomorrow I can bet :)

Have you traded with them?

Just for your info I also have active accounts with :

IG
CMC
CITY
ETX
CAPITAL
GFT

I'm talking from experience of trading with all the above on day to day basis.
 

tar

Well-known member
Nov 18, 2006
10,441
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#65
I'm sorry Tar - you are wrong there. They have NO commissions - My current FTSE trades are at 1 point spread and that will go down to 0.5 after 200 trades. Nothing ELSE... ZILCH. I'm already up 10% after 2 weeks of trading. I'll be up another 1-2% tomorrow I can bet :)

Have you traded with them?

Just for your info I also have active accounts with :

IG
CMC
CITY
ETX
CAPITAL
GFT

I'm talking from experience of trading with all the above on day to day basis.
yeah whatever u call it they charge u spread or commission over the market spread , in your example they charge 0.5 point per side = 5 pound per side that is expensive for the ftse , other real brokers charge 3.4 pound RT = 1.7 per side and it goes lower if u r active , also they charge 2 points per side for the dow , other brokers charge 4.8 $ RT = 2.4 $ per side only ...
 

gle101

Well-known member
Jan 14, 2006
3,717
84
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Karlstad
#67
Thanks GLE. I'm happy for non-SB futures platform that is DMA - any suggestions.
I like Dealingdesk and ggmarkets, Dealingdesk is a white label of London Capital Group, but with a new very fast platform and tight spread. The only problem is downtime, not a big problem though. If you can come down to 0.5 point on the FTSE, it is very good, high entry level though for the FTSE future.

Sorry, I misunderstood your question, in that case you have to go for the real futures (taxable). I think IB (Interactive Brokers) is among the best.
 
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Jack Hughes

Active member
Aug 1, 2009
623
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#68
I'm sorry Tar - you are wrong there. They have NO commissions - My current FTSE trades are at 1 point spread and that will go down to 0.5 after 200 trades. Nothing ELSE... ZILCH. I'm already up 10% after 2 weeks of trading. I'll be up another 1-2% tomorrow I can bet :)
This has been discussed to death here already. I don't see how you could have traded with them for four weeks (or two weeks?) without realising that the effective commissions are very high.
 

A Dashing Blade

Well-known member
Jul 9, 2004
1,373
170
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#69
yeah whatever u call it they charge u spread or commission over the market spread , in your example they charge 0.5 point per side = 5 pound per side that is expensive for the ftse , other real brokers charge 3.4 pound RT = 1.7 per side and it goes lower if u r active , also they charge 2 points per side for the dow , other brokers charge 4.8 $ RT = 2.4 $ per side only ...
Commission comes way down for size
It's a dma platform wrapped up in a spreadbetting business model

You wanna go non-dma (ie IB) ? That's down to you
 

tar

Well-known member
Nov 18, 2006
10,441
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#70
Commission comes way down for size
It's a dma platform wrapped up in a spreadbetting business model

You wanna go non-dma (ie IB) ? That's down to you
even if u r active it will stay expensive , they will charge u 1 point in the dow per side if u r active this still high , other brokers charge u less than 5 $ RT = 2.5 per side even if u r not active and if u r active it goes lower and lower , y i pay extra money every month we r talking about thousands of $ here . And what about funds saftey ?
 

Jack Hughes

Active member
Aug 1, 2009
623
25
38
#71
even if u r active it will stay expensive , they will charge u 1 point in the dow per side if u r active this still high , other brokers charge u less than 5 $ RT = 2.5 per side even if u r not active and if u r active it goes lower and lower , y i pay extra money every month we r talking about thousands of $ here . And what about funds saftey ?
I tend to agree. No matter how good the Prospreads platform, the only other thing it has going for it is the 'tax free' carrot. In all other respects it seems to offer the worst of both SB and DMA broker worlds.
 

gle101

Well-known member
Jan 14, 2006
3,717
84
58
Karlstad
#72
I tend to agree. No matter how good the Prospreads platform, the only other thing it has going for it is the 'tax free' carrot. In all other respects it seems to offer the worst of both SB and DMA broker worlds.
If tax free and DMA is important to you, Prospreads might be a good choice for some traders, even if it is more expensive. In a combination with taxable futures it might be a good strategy in order to control taxes. But I agree, overall, Prospreads is very expensive, if free tax is not important to you, there are other options to consider.
 

tar

Well-known member
Nov 18, 2006
10,441
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#73
If tax free and DMA is important to you, Prospreads might be a good choice for some traders, even if it is more expensive. In a combination with taxable futures it might be a good strategy in order to control taxes. But I agree, overall, Prospreads is very expensive, if free tax is not important to you, there are other options to consider.
If u r active trader it is cheaper to pay tax on net profit than pay double or triple comm in every trade
 

gle101

Well-known member
Jan 14, 2006
3,717
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Karlstad
#74
If u r active trader it is cheaper to pay tax on net profit than pay double or triple comm in every trade
Not necessarily so, it depends on your tax situation, which instrument and how many contracts you are trading on a monthly basis.
 

tar

Well-known member
Nov 18, 2006
10,441
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#75
Not necessarily so, it depends on your tax situation, which instrument and how many contracts you are trading on a monthly basis.
another thing , many countries tax your profits from spreadbetting ...