Will you be providing an automated trading platform or API anytime soon?
Will you be providing an automated trading platform or API anytime soon?
Is it really DMA, or DMA-like?
ProSpreads
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Why don't you try us out Ross and then report your experience on T2W?
Why not indeed? So PS are offering a 1.5 point spread per RT on the FTSE100 including commission, with no requotes, narrowing to 1 point per RT after 100 RTs of £10, or 1 RT of £1000, etc.
I'd be interested to hear reports from clients.
On the other hand, I'd also be interested to hear Prospreads answer Ross's question!
ProSpreads
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Why not indeed? So PS are offering a 1.5 point spread per RT on the FTSE100 including commission, with no requotes, narrowing to 1 point per RT after 100 RTs of £10, or 1 RT of £1000, etc.
I'd be interested to hear reports from clients.
On the other hand, I'd also be interested to hear Prospreads answer Ross's question!
Johnnn
We offer DMA on all products, you can test this by running our prices against another DMA platform.
Truth Seeker
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Is it possible to enter the market with stop and take profit at the same time? The prices you quote on your platform, are they the prices we pay or do we have to add a pip or %?
ProSpreads
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You can place these orders individually, so you are working a sell stop and a bid below but not as a one click order.
we advertise our spreads on the website, you have to add or subtract a spread from the actual market price.
Truth Seeker
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Thanks for the response. So to clear this up neatly. We trade the price on the screen quoted, but we subtract 10% of our winnings as that would be the price of the added spread?
ProSpreads
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Not sure where the 10% of profits from, but for example on the Equities we charge 10 basis points in and out.
on the Ftse Future if the market was 5737/ 5737.5 and you bought the offer your actual fill would be 5737.75 ( £ 2.50 )
Truth Seeker
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Thanks again, seems ok to me if you're really entering the real market with our trades and profiting by charging a small commission.
brasil2000
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The Ftse Future prices they quote are the real live Ftse Future prices,you can make a trade at those price,but your trade will not be executed in the future market.Prospreads take the other side of your trade,they add an commission spread of 1 point round trip or 0.5 round trip if you trade 200+ round trips.
So it's in their interests that you lose?
brasil2000
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That's my understanding, too, although recent postings from Prospreads seem to be claiming otherwise.
So sometimes it's in their interests that you lose, and sometimes it doesn't matter to them one way or the other?
Depends on whether they hedge or not, and whether you continue to trade. They won't make anything without clients!
Ross, can you tell me what spreadbetting company can make money without clients.???
Errm, that's what I meant. ProSpreads doesn't have many clients, apparently.
This is why I must be getting a good service. I am the only client. Apparently.
To be honest I don't care if they hedge or don't hedge my trades as long as I am getting a real market price. And I have constatley tested the prices against my Futures platform and they are the same. If I loose money who cares who makes it.
DeusExMachina
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Having used ProSpreads for well over a year now, I can also confirm that I am spreadbetting on the live underlying market prices (I have also constantly checked their prices against other futures price feeds and platforms).
The clearest advantage of this is that they cannot manipulate or move prices against me ... I am trading the real market with no underhand tactics from an SB company. This was the main reason I moved over to them.
The clearest advantage of this is that they cannot manipulate or move prices against me ... I am trading the real market with no underhand tactics from an SB company. This was the main reason I moved over to them.