Spreadco the one to beat?

gle101 said:
Ha ha, thanks a lot.:)
Yes flashy indeed, I like it, even more inclined to trade with them after seeing this. This company means business.
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Agreed. Would anyone trade with a "company" working out of one of these?
 

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Ross Spur said:
Spreadco ads constantly on Bloomberg now.
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They spend more on their ads than the system.
Very slow system prone to slippage, same as most of the places offering low spreads, they haven't spent enough on their IT to make it work.
 
SanMiguel said:
They spend more on their ads than the system.
Very slow system prone to slippage, same as most of the places offering low spreads, they haven't spent enough on their IT to make it work.
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They were supposed to be updating their platform in March, but nothing seems to have happened yet.
 
SanMiguel said:
They spend more on their ads than the system.
Very slow system prone to slippage, same as most of the places offering low spreads, they haven't spent enough on their IT to make it work.
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Ross Spur said:
They were supposed to be updating their platform in March, but nothing seems to have happened yet.
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They always say that they are updating their platform but I don't see any changes for myself. No need to re-invent the wheel there... they just need to fix some small issues.

SanMiguel, do you use brower based or downloadable version. I used downloadable version and didn't have many problems.
 
lancenicolase said:
They always say that they are updating their platform but I don't see any changes for myself. No need to re-invent the wheel there... they just need to fix some small issues.

SanMiguel, do you use brower based or downloadable version. I used downloadable version and didn't have many problems.
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Downloadable one is far better. If only they could get all the boxes showing the same prices, and speed up trade openings. Once you get out of the probationary period, it's all rejects and requotes, so the narrow spreads are really worthless.
 
Ross Spur said:
Downloadable one is far better. If only they could get all the boxes showing the same prices, and speed up trade openings. Once you get out of the probationary period, it's all rejects and requotes, so the narrow spreads are really worthless.
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Placed two trades yesterday and didn't have any problems... But I still don't like the platform as they need to finally fix the glitches.... full stop.
 
lancenicolase said:
I opened account with SpreadCo about 2 weeks ago and had about 10 trades so far.
I had no re-quotes, no crashes and I have no problems with them.

As some of you know WorldSpreads have £100k competition where you need to get 10 successful trades to qualify and I use my SpreadCo account to hedge some of the positions.

I think you will have problems with spread betting companies when you trade with a lot of money.

Spread Betting companies should hedge their positions on the open market but not all of them do so and thus use some dodgy techniques. If you have a problem with a spread betting broker you should compain to the FSA as by law spread betting companies have to be able to close your position at any given time (when the market is open).
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Which platform do you trade on - the download or web based?

I've tried both and the execution is terrible. I've complained many times and all they say is it was executed at the price I clicked which is bull.

The other day I put in an "separate" order (as their platform doesn't have orders on live trades (joke) the price reached my order and my order disappeared so I assumed it closed. To my surprise it didn't so I manually closed it. Luckily I double checked as I was shocked when I found it opened another trade! The platform is a shambles. I CALLED THEM TO ASK WHY AND THEY STATED THEY HAD PROBLEMS WITH THE PLATFORM. HOW CAN THEY JUST LET US TRADE WITH A FAULTY PLATFORM? I'm tempted to complain to the FSA.

Definately go with a broker which has a honest, reliable platform PERIOD

Rant over!
 
gle101 said:
Yes, it is better to have a 1 point spread (1 tick per point) on the Dow. Being little less than 1 point spread makes it about even with Cityindex I guess. It has come to my knowledge they are planing to introduce stop loss in points on the order ticket window, in the very near future (hopefully this month). Not less than 5 points spread is not an issue, at least not for me. How do they perform execution wise, fast, re-quote or price no longer valid?
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Don't believe it buddy. They've been saying that since the beginning of last year! :mad:
 
lancenicolase said:
Where have you seen delays and requotes on spreadco? I had about 20 trades with them in November/December and never had them.
Although, I've been trading with CS for over two years and never had requotes there.

It just makes me laugh when some people come out and talk about re-quotes. I've heard that some systems had re-quotes and you could be re-quoted if you bet £100+ per point as they try to hedge your position, but I doubt you get re-quotes on £1 position.

That's just my humble opinion and I traded with Capital Spreads, Spread Co, World Spreads and haven't had a problem with any of them.
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Do you work for Spreadco then? If not, you won't be laughing when your execution fails or you receive a requote around 5 points from what you expected.
 
panache said:
Which platform do you trade on - the download or web based?

I've tried both and the execution is terrible. I've complained many times and all they say is it was executed at the price I clicked which is bull.

The other day I put in an "separate" order (as their platform doesn't have orders on live trades (joke) the price reached my order and my order disappeared so I assumed it closed. To my surprise it didn't so I manually closed it. Luckily I double checked as I was shocked when I found it opened another trade! The platform is a shambles. I CALLED THEM TO ASK WHY AND THEY STATED THEY HAD PROBLEMS WITH THE PLATFORM. HOW CAN THEY JUST LET US TRADE WITH A FAULTY PLATFORM? I'm tempted to complain to the FSA.

Definately go with a broker which has a honest, reliable platform PERIOD

Rant over!
Click to expand...

My experience almost exactly. Orders disappear, then a minute later you find you've opened another position instad of closing one. If you do complain to the FSA (or FOS) also ask them how Spreadco can get away with quoting different prices in different places at the same time, ao you never know whether orders have been triggered.
 
panache said:
Do you work for Spreadco then? If not, you won't be laughing when your execution fails or you receive a requote around 5 points from what you expected.
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Had my first re-quote when I tried to trade Copper... missed the trade as I didn't expect it and wasn't sure what I was supposed to do... sigh.
 
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