SpreadCo

[matt101uk]

Hi All,

Have tried the new spreadco platform web platform today, looks a bit slicker than before, decent charts and hedging positions now. Have any of you got a live account - are they reliable enough for a small company? - looks like they've been around for a few years now... anybody got any feedback please?

thanks..

 

[gle101]

Hi All,

Have tried the new spreadco platform web platform today, looks a bit slicker than before, decent charts and hedging positions now. Have any of you got a live account - are they reliable enough for a small company? - looks like they've been around for a few years now... anybody got any feedback please?

thanks..

yes I have been waiting for the new upgrade of the platform, now that it is finally here I am going to give them a go with a live account. There have been some complaining about slippage, probably trading the news, this problem comes with any SB anyway.

 

[spreadco]

Hi Guys,

My name is Vinay, I'm a dealer at Spread Co. I notice you have been waiting for our new platform which I am pleased to say has been launched and has been well received.

With regards to your request for feedback, we have been trading since 2006 and so are well established. We're always open to improvements and our in house development team are consistently updating the platform. (This weekend will see the release of more Fibonacci based technical analysis tools).

If you have any further questions, please feel free to drop me an e-mail or send me a message, I'll get back to you as soon as possible. Alternatively you can contact our client services team / dealers 24-hours-a-day, Monday to Friday. The contact details can be found here: Contact Spread Co | Client Services.

This is my first post, however I look forward to contributing on the boards.

Thanks,

Vin

 

[R.Charnock]

Hi Guys,

My name is Vinay, I'm a dealer at Spread Co. I notice you have been waiting for our new platform which I am pleased to say has been launched and has been well received.

With regards to your request for feedback, we have been trading since 2006 and so are well established. We're always open to improvements and our in house development team are consistently updating the platform. (This weekend will see the release of more Fibonacci based technical analysis tools).

If you have any further questions, please feel free to drop me an e-mail or send me a message, I'll get back to you as soon as possible. Alternatively you can contact our client services team / dealers 24-hours-a-day, Monday to Friday. The contact details can be found here: Contact Spread Co | Client Services.

This is my first post, however I look forward to contributing on the boards.

Thanks,

Vin

Welcome aboard. Do you have any promotional offers to tempt new clients, or old clients, come to that?

 

[spreadco]

Hi Guys,

Apologies for the delayed response, I was liasing with our marketing / sales teams regarding any promotional offers. Unfortunately, we don't currently have any offers running however as soon as one comes around, I will be in touch.

If however, you would like to trial our new platform regardless, let me know and I can arrange for one of our Client Services guys to give you a call.

Vin

 

[gle101]

Hi Guys,

Apologies for the delayed response, I was liasing with our marketing / sales teams regarding any promotional offers. Unfortunately, we don't currently have any offers running however as soon as one comes around, I will be in touch.

If however, you would like to trial our new platform regardless, let me know and I can arrange for one of our Client Services guys to give you a call.

Vin

Yes nice to have a company representative active on the forum. I hope you will stay around for a long time.

A good thing would be your demo account platform to resemble that of your live account. There is a substantial delay on the demo account and the spread does not correspond to that of the live account. In fact when I come to think of it there is no other SB company that have this kind of setup on the demo account. Otherwise the platform and the live account looks promising and I will for sure give it a shot.

 

[spreadco]

It's great to hear the positive feedback about the new platform.

With regards to the demo platform, it has been somewhat neglected in the run up to launching the new platform with much of the development resources being channeled into the live platform. Over the coming weeks we will be polishing up the demo platform so that it better reflects our live platform.

Let me know if there is anything at all I can help with.

Vin

 

[matt101uk]

Hi,

Thanks for the feedback so far, yes it is looking good, although concerned to hear about gle101's comment about slippage. However I'd had that at pretty much every spread betting company in the last four years. Why can't you companies just allow a trade to go through?!!!

Whilst the demo is delayed on some instruments, WHY?!?!, FX doesn't seem to be, and you seem to have that on fixed spreads with no change most of the time. Is that the same on the Live platform too? No point in saying you have a fixed spread when it varies sometimes.

One thing that is missing though is news though.. Any chance of that?

 

[gle101]

It's great to hear the positive feedback about the new platform.

With regards to the demo platform, it has been somewhat neglected in the run up to launching the new platform with much of the development resources being channeled into the live platform. Over the coming weeks we will be polishing up the demo platform so that it better reflects our live platform.

Let me know if there is anything at all I can help with.

Vin

Sounds good, thanks a lot. I agree it is definitely better to initially concentrate on the live account platform. I am looking forward to have a go at the live account in the near future.

 

[jungerns]

Hi,

Thanks for the feedback so far, yes it is looking good, although concerned to hear about gle101's comment about slippage. However I'd had that at pretty much every spread betting company in the last four years. Why can't you companies just allow a trade to go through?!!!

I have had three SB accounts for some time and whilst having no affiliation with any of them I can say with complete certainty that on Tradefair I have never to my knowledge experienced slippage.....

Execution is immediate in all but the the most torrid market movements...

 

[gle101]

I have had three SB accounts for some time and whilst having no affiliation with any of them I can say with complete certainty that on Tradefair I have never to my knowledge experienced slippage.....

Execution is immediate in all but the the most torrid market movements...

It all depends when and what market you are trading. Trading the news could result in slippage even with CS and its white labels (very seldom though). CS also have dealer intervention during important news releases. To be honest not much is written negatively about Spreadco, just one or two who was complaining of slippage trading the news, there you are. As always one must find out personally by trading live with them, this in order to form a fair (still personal) opinion of the company.

 

[Lacanau]

These people will slip you on every trade. I was slipped on every, and I mean every, trade (11 in total). I was not active during any volatile periods either.

Avoid.

Thread URL http://www.trade2win.com/boards/spread-betting/143364-spreadco-warning.html

Saw this post from january this year, and while no one replied to the post, it still gives cause for concern.

 

[gle101]

Saw this post from january this year, and while no one replied to the post, it still gives cause for concern.

Yes one always notice these kind of reports. Still it was quite awhile ago and I can't imagine Spreadco practice this kind of bad service, they woudn't be able to compete in this tough and competitive industry. There are just too many good SB alternatives around today and if bad service follows, clients will immediately move on to another SB company, I would anyway.

 

[R.Charnock]

Yes one always notice these kind of reports. Still it was quite awhile ago and I can't imagine Spreadco practice this kind of bad service, they woudn't be able to compete in this tough and competitive industry. There are just too many good SB alternatives around today and if bad service follows, clients will immediately move on to another SB company, I would anyway.

They probably have already, hence the lack of response to that post and similar ones about CMC.

 

[peakoil]

Though in all fairness, youarenotfree just talks about being repeatedly slipped, while giving no info on what position size he tried to have on (was it a 400pp trade that he was repeatedly slipped on, or what!?), over what period (a few hours or days!) and what exact markets; and what's more, he doesn't speak of his history till that unusually poor experience, nor since then.

Please know that I'm not trying to defend them, just merely trying to see his post in a more objective manner. After all, if his internet provider was having issues on that day that too could explain his problems, which would've had nothing to do with spreadco, in any event. Regardless, if his ISP wasn't to blame, it'd be much more informative for us, if he spoke with spreadco's cs - and tried to get to the bottom of the matter, before providing their response here.

+1 to Gle101, who makes the very true comment that they don't exactly have many complaining about them here to date - and if they did, customers would indeed be leaving pronto!

 

[matt101uk]

Vinay, any reply to the slipping issue people are talking about. From what I've seen everyone slips, especially around news time. Maybe not IG, but that's another issue....

 

[KIUK]

I use SpreadCo and i have had occasions where i am constantly getting dealer requotes. This does disgruntle me a little bit and i have considered using a DMA (direct market access) Platform instead.

Vinay - if i do continue to get dealer requotes i think i will take my trades elsewhere. It usually happens when the market is moving fast, or when my stake is high (above £50 per point).

Is there any way you can address this issue?

 

[gle101]

I use SpreadCo and i have had occasions where i am constantly getting dealer requotes. This does disgruntle me a little bit and i have considered using a DMA (direct market access) Platform instead.

Vinay - if i do continue to get dealer requotes i think i will take my trades elsewhere. It usually happens when the market is moving fast, or when my stake is high (above £50 per point).

Is there any way you can address this issue?

OK by 30% slippage you mean re-quotes. £50 per point is quite a high stake if you for instance is trading the Dow, you will for sure get more dealer re-quotes with this kind of stake. As I wrote on the other Spreadco thread, 0.80 point spread on the Dow is a very tight spread, and the problem with this is a higher probability of getting re-quotes. But yes, if this is the case that the problem is severe they have to address this issue, because it can be very annoying and disturb the rhythm in ones trading.

 

[KIUK]

Do other platforms offer 1pt spreads on the DOW? 0.8 is very tight, and i result in a profit more times than not, even if it is 0.2 of a point in profit. £10 profit is better than being down.

 

[gle101]

Do other platforms offer 1pt spreads on the DOW? 0.8 is very tight, and i result in a profit more times than not, even if it is 0.2 of a point in profit. £10 profit is better than being down.

Yes there are a few SB companies offering 1 point spread or less. I send you a pm on the ones I know besides Spreadco. But do keep reporting on how it is trading with Spreadco.