Spreadbetting Companies Want YOU to Lose? Any Thoughts - You Tube Video Link

[tomorton]

ok, you didn't give a good reason there.. just more of the same sweeping negatives.

I've used SB for about 13 years now, two different firms over that time, but both regulated in the UK.

The only problem with SB is that its mechanics, aimed at controlling short-term volatility risk to the company, means that its very hard to make a profit using SB as a day-trader, virtually impossible if your time-frame is minutes. Spreads expand and contract, and at times certain markets are unavailable although the underlying instrument is still being traded live in London or New York etc., but all you can do perhaps is enter and edit orders.

For long-term holds, UK SB firms are as reliable as any other method, you just have to work out if the costs and margin are right for you.

 

[mpups]

I've used SB for about 13 years now, two different firms over that time, but both regulated in the UK.

The only problem with SB is that its mechanics, aimed at controlling short-term volatility risk to the company, means that its very hard to make a profit using SB as a day-trader, virtually impossible if your time-frame is minutes. Spreads expand and contract, and at times certain markets are unavailable although the underlying instrument is still being traded live in London or New York etc., but all you can do perhaps is enter and edit orders.

For long-term holds, UK SB firms are as reliable as any other method, you just have to work out if the costs and margin are right for you.

oh i see thanks for that tomorton. As i have been using SB for swing trading I have, like you said, not been effected much by these things. Further down the line I can trade more direct if I see the advantage, ill check it out.. can you mention any good providers where i could trade, say, indices, index options, gold futures, and crude futures? (and maybe currencies)

 

[tomorton]

oh i see thanks for that tomorton. As i have been using SB for swing trading I have, like you said, not been effected much by these things. Further down the line I can trade more direct if I see the advantage, ill check it out.. can you mention any good providers where i could trade, say, indices, index options, gold futures, and crude futures? (and maybe currencies)

Sorry, no experience with other providers. But I would certainly go for a UK-regulated and based operation.

 

[mpups]

Sorry, no experience with other providers. But I would certainly go for a UK-regulated and based operation.

i see maybe i got the wrong end of the stick. you are still using a SB account then?

 

[wisefoolx]

ok, you didn't give a good reason there.. just more of the same sweeping negatives.

And why must you be the arbiter of what is " a good reason " ?

 

[wisefoolx]

So you started being mickey mouse. Then you got bigger after winning 2k. Now you are pro level. Why don't you call out some real trades ? Then people get to see your skills.

Don't bother with stocks because those are mickey mouse markets. Do FX, indices, and commodities that everyone have access to for easy assessment. If the call outs match my direction, I wouldn't mind doing some copy trading and partake in your success.

More like 3.5, and that was on CREDIT, effectively making it FREE money.

If you'd stop being so reactive ... and follow thread properly, you'd have notice that I have made 3 calls already which if you had followed would have mad you a ton of cash. :cheesy:

 

[mpups]

And why must you be the arbiter of what is " a good reason " ?

i think you are missing the point as well as the reason!

dont worry about it tomorton stepped in with an intelligent answer

 

[wisefoolx]

Actually what people don't realise and what is perpetuated by the SB industry is that FINRA regulations over US finance firms are even better than the FCA.

FINRA demands for separate clients / firm accounts. I have put in and taken out thousands from US futures brokers, never had a problem and their software is better though my ever increasing demands is making that less so.

 

[wisefoolx]

Ever get slippage on those stops? Ever get spreads widening when things get thin? Of course you do o wise one, natural part of the market

Ever get positive slippage on a limit order?

GTFO!

Maybe and maybe but all that is irrelevant to you, you don't do exchange products. End of.

Is that a problem for you?

 

[EnlightenedJoe]

More like 3.5, and that was on CREDIT, effectively making it FREE money.

If you'd stop being so reactive ... and follow thread properly, you'd have notice that I have made 3 calls already which if you had followed would have mad you a ton of cash. :cheesy:

Call outs must be actual trades. Demo pips are no use for anyone. If you have no confidence in your own calls to put money on it then the calls are worthless.

 

[tomorton]

Actually what people don't realise and what is perpetuated by the SB industry is that FINRA regulations over US finance firms are even better than the FCA.

FINRA demands for separate clients / firm accounts. I have put in and taken out thousands from US futures brokers, never had a problem and their software is better though my ever increasing demands is making that less so.

FCA-regulated SB firms use segregated clients' accounts.

The FCA Financial Services Compensation Scheme covers SB clients in the event of the firm ceasing trading and/or not having sufficient assets to pay out to SB clients.

 

[wisefoolx]

Call outs must be actual trades. Demo pips are no use for anyone. If you have no confidence in your own calls to put money on it then the calls are worthless.

Demo LOL, are you kidding, never done it, jumped straight in.

And excuse me but who elected you to be the sole arbiter of what is acceptable or not ?

A'way you are wrong, otherwise thousands of analyst would be out of a job. Also it's irrelevant to you, you're a SB guy, this is stock.

 

[wisefoolx]

FCA-regulated SB firms use segregated clients' accounts.

The FCA Financial Services Compensation Scheme covers SB clients in the event of the firm ceasing trading and/or not having sufficient assets to pay out to SB clients.

Same with FINRA, so what ?

 

[EnlightenedJoe]

Demo LOL, are you kidding, never done it, jumped straight in.

And excuse me but who elected you to be the sole arbiter of what is acceptable or not ?

A'way you are wrong, otherwise thousands of analyst would be out of a job. Also it's irrelevant to you, you're a SB guy, this is stock.

I elected myself. I use request for call outs to exert pressure. It's an interrogation technique. You failed. I would rate your skills in trading as barjon class.

 

[wisefoolx]

I elected myself. I use request for call outs to exert pressure. It's an interrogation technique. You failed. I would rate your skills in trading as barjon class.

Elect all you want, boy my 400% ROI says your election is B***.
:clap:

 

[EnlightenedJoe]

Elect all you want, boy my 400% ROI says your election is B***.
:clap:

What's the big deal with 400% ? Mine is 500%+ currently standing with no sign of stopping. A couple of years ago when I didn't know what I was doing I was 20x in a few months.

 

[mpups]

Elect all you want, boy my 400% ROI says your election is B***.
:clap:

400% ROI means nothing in isolation, you have to qualify that further really if you want to prove your trading credentials

i am assistant to the elected arbiter

 

[wisefoolx]

400% ROI means nothing in isolation, you have to qualify that further really if you want to prove your trading credentials

i am assistant to the elected arbiter

I don't need the approval of internet newbies .

 

[tomorton]

Same with FINRA, so what ?

There is no significant difference in regulatory requirements in these areas between FINRA and FCA. So there is no additional risk from trading via an FCA-regulated SB firm compared with a FINRA-regulated firm. I can't make it clearer.

 

[wisefoolx]

What's the big deal with 400% ? Mine is 500%+ currently standing with no sign of stopping. A couple of years ago when I didn't know what I was doing I was 20x in a few months.

You asked so I gave it to you.