Smart Live Markets - Spread Bet on MT4

[Smart Live Markets]

Re: Oh dear, Oh dear, Oh dear

Hi all

I have been looking at Smart Live Markets now for a few weeks, all seemed to be going well. Until (see the attachment). Moves of this kind used to be common place in the early days of spreadbetting and if you had lost money on such a move getting it back was just about impossible.

Is anyone here actually trading using this SBCo, if yes what are your views and opinions.
Perhaps its all innocent and they are just getting ahead of any depression that may come along.

Thanks
Nut


Hi
Sorry, it was my fault. This was only on the demo platform and on 4 of the Indices. It would not have affected any quotes or trading in any way.

I had changed the decimal point to 1 so that the price would show tenths. However I forgot that this is a complete nightmare to do as MT4 then goes back itself and changes all the charts as it thinks the decimal point has been shifted.

This has now been corrected and if it still looks wrong just right click on the chart and hit refresh.

Apologies for any inconvenience.
Regards
SLM

 

[Nut]

Re: Oh dear, Oh dear, Oh dear

Dear SLM

Many thanks for your prompt response and indeed the data in my daily chart is now correct. The data in other intraday charts is still incorrect. So point one of my email is answered satisfactorily.

However point 2 is glaringly left open and it is this point that most traders are interested in. Would you please be kind enough to anwer point 2.

Thank you
Nut

 

[Black Swan]

Re: Oh dear, Oh dear, Oh dear

I am testing them with live trading, it looks promising but there are issues they need to get sorted out (read the SLM thread). I am prepared to give them a year in order for them to get settled. Very small bet size, which is excellent for live experience with the MT4 platform. Do not expect the live account to deliver the same good execution experience as the demo account. I would be nice if live traders report their experience trading with them on the SLM thread.

Why bother, why waste your time..? Still fail to see the difference over and above the fact they have MT4/5..
They might be the nicest guys in town, blokes you may have a beer with, but at the end of the day how the hell they ever gonna compete with for example IG and FXCM? Sorry but this is not a game (on their side) were you can start off small and grow big, that ship sailed ten years back...
Their only hope is to test the platform, get a bit of exposure and then flog the company..doubt if you'll get any divis for being the guinea pigs if they sell it for a couple of mill...

 

[Nut]

Re: Oh dear, Oh dear, Oh dear

Black Swan you may be right, but it is my time to waste. If they flog the company and make a profit good luck to them providing traders are treated with respect in the meantime. If they fail to answer point 2 then that speaks volumes to me about the company itself and might just prove your theory as correct.

Cheers
nut

 

[Smart Live Markets]

Re: Oh dear, Oh dear, Oh dear

Dear SLM

Many thanks for your prompt response and indeed the data in my daily chart is now correct. The data in other intraday charts is still incorrect. So point one of my email is answered satisfactorily.

However point 2 is glaringly left open and it is this point that most traders are interested in. Would you please be kind enough to anwer point 2.

Thank you
Nut

Hi,
Sorry I was replying to your original thread.

My colleague is responding to your email. But in short if an eroneous price had caused any positions to be closed wrongly they would of course be reopend at their original level and accounts cash adjusted.

We are an FSA registered MiFID compliant company, and as such that is what we have to do. We are not some off shore bucket shop that is out to have people over.

Regards
SLM

 

[Nut]

Re: Oh dear, Oh dear, Oh dear

SML many thanks for answering and SML's approach to such situations is now in the public domain for all to reference should the need arise, which hopefully it never will. Issue closed for me.

Regards
Nut

 

[Smart Live Markets]

Re: Oh dear, Oh dear, Oh dear

Why bother, why waste your time..? Still fail to see the difference over and above the fact they have MT4/5..
They might be the nicest guys in town, blokes you may have a beer with, but at the end of the day how the hell they ever gonna compete with for example IG and FXCM? Sorry but this is not a game (on their side) were you can start off small and grow big, that ship sailed ten years back...
Their only hope is to test the platform, get a bit of exposure and then flog the company..doubt if you'll get any divis for being the guinea pigs if they sell it for a couple of mill...

Hi
Thanks for your views.

We are for your interest taking clients off IG Index and others every day. Spoke to a nice client today who trades good size cable. To roll his position with IG he was charged £80, we charged 16 pence. Thats because we charge market rates and do not just charge what we can get away with.

Its this visability of financing, togther with good pricing and a good slection of markets all on the much sort after Meta Trader platform that is giving us the edge.

Add to that the management team have all been in the industry for many years and are not just a bunch of ex brokers who fancied there chances starting up a trading company and you have a recipe for a successful company.

These days its all about automation wherever possible to keep costs down which can then be passed onto the clients.

We are not in this for the short run. We want to grow this business into a large trading company, and we will, because unilke some of the oppositon, who I have worked for, we know what we are doing.

I hope that clarifies things.

ps Always up for a beer
Regards
Paul, SLM

 

[scose-no-doubt]

Re: Oh dear, Oh dear, Oh dear

Get told BS

 

[gle101]

Re: Oh dear, Oh dear, Oh dear

SLM are very quick to answer traders questions, this speaks to their advantage. I like the fact they are not afraid to post on this forum. However, it is always a need to be careful to newcomers in the business, and not to deposit too much money until they are proven trustworthy.

 

[BeerMonster]

Dear SLM

Would it be possible to ...
1 Have the correct time shown on charts and against prices, not one hour ahead which is very confusing.

2 Have the FTSE 100 stay at one point spread until 9pm US close time.

3 Add all the other commodities prices that other companies offer. I mean softs, energy and metals prices.

I agree with other posters requests for the following...

4 Standardize on the fraction used for the FTSE 100 quote, I suggest 0 .3 .5 and .8 like other companies do. It is impossible to code expert advisors to take account of the fraction if it is constantly changing. You seem to have four different variations of fractions used.

5 Open UK shares trading the moment that you have a genuine price for a stock.

You seem very keen to offer the best SB service but the above points IMHO need to be addressed to achieve that.

Many thanks

 

[Pat494]

Re: Oh dear, Oh dear, Oh dear

SLM are very quick to answer traders questions, this speaks to their advantage. I like the fact they are not afraid to post on this forum. However, it is always a need to be careful to newcomers in the business, and not to deposit too much money until they are proven trustworthy.

I am of a different opinion. I have just tried to talk to their live chat person. Noone at home it seems.
My query was - that the page to open a demo account won't accept my email address

 

[tommac]

Re: Oh dear, Oh dear, Oh dear

I have been trading live with them for a few weeks--no problems to report--the only problem i did have ( platform ) was sorted by a phone call in 5 mins when they phoned me back !!. I`m happy enough and love the mt4 --works for me.

 

[Smart Live Markets]

Dear SLM

Would it be possible to ...
1 Have the correct time shown on charts and against prices, not one hour ahead which is very confusing.

2 Have the FTSE 100 stay at one point spread until 9pm US close time.

3 Add all the other commodities prices that other companies offer. I mean softs, energy and metals prices.

I agree with other posters requests for the following...

4 Standardize on the fraction used for the FTSE 100 quote, I suggest 0 .3 .5 and .8 like other companies do. It is impossible to code expert advisors to take account of the fraction if it is constantly changing. You seem to have four different variations of fractions used.

5 Open UK shares trading the moment that you have a genuine price for a stock.

You seem very keen to offer the best SB service but the above points IMHO need to be addressed to achieve that.

Many thanks

Hi
Thanks for your comments.

Firstly with regards to the times on the charts.
In a word no. We decided when we set the company up to go along with the majority of MT4 providers who have the time set to Central European Time. I know for spread betting this may seem daft as it is primarily for UK customers, but we use the same price feed for our FX/CFD platform and cannot have two different times going out.

With regards to the FTSE spread, we will have a look at this. The theory is that after the cash close the liquidity is worse, but we could probably give it a go.

We at present offer Gold, Silver, Brent and WTI. These are by far the most popular commodities. We will add more, but the fees that the Exchanges charge us are immense to redistribute their data, so unless we have a lot of people wanting these things it is not cost effective. But we will be adding some more soon.

The FTSE price should now show as you have requested. This was a rounding issue which was easily changed.

With regards to the Equities, we will have another look at this. I think it is just the various levels of price verification that go on.

I hope that helps.
Regards
SLM

 

[Smart Live Markets]

Re: Oh dear, Oh dear, Oh dear

I am of a different opinion. I have just tried to talk to their live chat person. Noone at home it seems.
My query was - that the page to open a demo account won't accept my email address

Hi
Sorry you get through on the live chat. I do not know why that was.
The demo request should be working fine.
Do you mind trying again using small letters for your email address.
If that does not work then please try us on the Live Chat again.
Many thanks
Regards
SLM

 

[Ross Spur]

And how about 1pt Dow spread?

 

[Pat494]

Re: Oh dear, Oh dear, Oh dear

Hi
Sorry you get through on the live chat. I do not know why that was.
The demo request should be working fine.
Do you mind trying again using small letters for your email address.
If that does not work then please try us on the Live Chat again.
Many thanks
Regards
SLM

Thanks - I am through now

 

[gle101]

Hi
Thanks for your comments.

Firstly with regards to the times on the charts.
In a word no. We decided when we set the company up to go along with the majority of MT4 providers who have the time set to Central European Time. I know for spread betting this may seem daft as it is primarily for UK customers, but we use the same price feed for our FX/CFD platform and cannot have two different times going out.

With regards to the FTSE spread, we will have a look at this. The theory is that after the cash close the liquidity is worse, but we could probably give it a go.

We at present offer Gold, Silver, Brent and WTI. These are by far the most popular commodities. We will add more, but the fees that the Exchanges charge us are immense to redistribute their data, so unless we have a lot of people wanting these things it is not cost effective. But we will be adding some more soon.

The FTSE price should now show as you have requested. This was a rounding issue which was easily changed.

With regards to the Equities, we will have another look at this. I think it is just the various levels of price verification that go on.

I hope that helps.
Regards
SLM

Yes, the FTSE and DAX needs a haircut after hours trading. There is no use trading with you with a 3 point spread, you don't like us to be running over to CS and others would you?

 

[Ross Spur]

Yes, the FTSE and DAX needs a haircut after hours trading. There is no use trading with you with a 3 point spread, you don't like us to be running over to CS and others would you?

Running in the other direction from CS, but City Fins still offers 1pt Dow after all these months, so SLM will have to match that before I'm tempted.

 

[gle101]

Running in the other direction from CS, but City Fins still offers 1pt Dow after all these months, so SLM will have to match that before I'm tempted.

I look what is sustainable in the long run, 1 point on the Dow is not. But I agree, I am kind of surprised City still holds on to the 1 point spread on the Dow.

 

[Ross Spur]

I look what is sustainable in the long run, 1 point on the Dow is not. But I agree, I am kind of surprised City still holds on to the 1 point spread on the Dow.

Whatever the theory, the fact that City still does 1pt suggests that it is sustainable, so I think the rest of the SBs will have to follow, even if it dents the profit margin slightly.