Xemo
I liked prospreads, they suited me Great personable support staff etc, I was happy to pay the extra fees (they are very expensive) to get the extra support when needed. I wanted them to do the right thing and they didn't.
I emailed Simon hopeing for a reasonable resolution, he hasnt replied, instead he got one of the support staff to call me. Perhaps he will reply but my guess is probably not. As I say £3k per month fees is probably small corn to them so I was probably hopeing against the odds.
Sorry if my reply to you came accross snappy, it wasnt intentional.
Hi bsmart,
Have you ever consider that there is a deeper insight that your experience might be pointing to. There is another thread re: Prospreads at which there has been a useful posting, especially in regards of DMA, and internal hedging at Pro. They have had a chance on that thread to clear the issue, they have not done so. I have observed that with some SB companies it is not a great idea to be very profitable, they might slow your execution or do other things to discarrage you to take "their funds" from the internal hedging pond, and if one is well profitable the fees earned by spreads of your trades are of no cosequence especially in relation to the grabbed profits, which some Market Makers view as their loss. There is nothing new and unusual under the Sun.
Trading platforms which only offer DMA care for all their clients as their only income comes from the commissions gained by charging spreads. Other platforms with different degree of mixture of different hedging practices have different considerations to take into account.
Trade using DMA does not need to be hedged, every trade one makes is passed to the market, but this might not be the case when the platform is invlolved in hedging, first there is an in internal hedging, then there is external hedging, and so on, and there are also Market Makers. All of this is good and ok, providing that the given platform is allowing profitable traders to continue to trade.
GFT has good spreads for the indexes, especially during the pit time, without the complications of different margin requirements at Pro. IG is reasonable too, and so is CMC.
Many good trades to you, and do not worry too much about the Pro, after all you might still reconsider and return to them, especially if they were unstrumental in making good profits. Saying all the above their execution is fast, and that is always an important factor, more impotant then a little difference in applayed spreads. Whichever platform is used I would advise to have a very large reserves in order to avoid the margin calls.
