OK, thanks a lot. I will fund my live account this coming week and give them a go. I will notice quite quickly how well they perform. Keep reporting on your findings as will I do when I start trading live with them. I am surprise that not more people reports on how it is trading with different SB companies, especially regarding relative new companies like Spreadco.I haven't traded the DOW, the only indice I trade is the UK(FTSE)100 at the moment. I've noticed a little slippage (nothing significant, and very rare), but that can be put to the fast price action at the time. As for the execution, I haven't noticed any difference from the demo platform. nice and quick
Hi Guys,
Apologies for the delayed response, I was under the impression that I would receive an e-mail everytime somebody commented in this thread.
It's great to hear that a couple of you guys have recently opened accounts and are having no problems.
With regards to requotes, I agree with Gle101. The instruction from our head dealer is to avoid requoting unless we absolutely must, in which case, we would requote to level 2. If however there is a specific instance you would like to query, please send either myself or [email protected] an e-mail and I can get back to you within 24 hours.
I hope this can reasurre you. I understand with tight spreads that requotes and slippage is a concern for any client.
Regards,
Vinay
Apologies for the delayed response, I was under the impression that I would receive an e-mail everytime somebody commented in this thread.
It's great to hear that a couple of you guys have recently opened accounts and are having no problems.
With regards to requotes, I agree with Gle101. The instruction from our head dealer is to avoid requoting unless we absolutely must, in which case, we would requote to level 2. If however there is a specific instance you would like to query, please send either myself or [email protected] an e-mail and I can get back to you within 24 hours.
I hope this can reasurre you. I understand with tight spreads that requotes and slippage is a concern for any client.
Regards,
Vinay
R.Charnock
Well-known member
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That seems to imply that trades all go through dealers?
No, on the contrary, the vast majority of trades are executed without any dealer intervention. A trade would only ever be routed through to the dealing desk if it exceeded specific price tolerances or was for a larger volume than was available at market touch. It should be noted that it works both ways in that should a client be offered a requote, it can be in the clients favour or not.
In any case, we aim to reduce the amount of traffic coming through to the dealing desk as we investigate the reasons behind why a particular trade came to the dealers in the first place.
I hope that makes sense, let me know if you have any further questions.
Hi Vinay
Maybe I am missing something but i find quite hard to keep a record of my trades on Spreadco. The list of all trades are there but the profits/losses are calculated as a "day" profit/loss for a given trade and not the actual buy minus sell prices. This way I find it difficult to keep an accuracy record of my trades and am considering having a go with IG. No more complaints with Spreadco really. It is just this trade records thing that I find annoying. Or am I missing something? cheers
Maybe I am missing something but i find quite hard to keep a record of my trades on Spreadco. The list of all trades are there but the profits/losses are calculated as a "day" profit/loss for a given trade and not the actual buy minus sell prices. This way I find it difficult to keep an accuracy record of my trades and am considering having a go with IG. No more complaints with Spreadco really. It is just this trade records thing that I find annoying. Or am I missing something? cheers
Hi Rob,
Thanks for getting in touch. You are correct in that the system calculates a 'day' PnL, this stems from the fact that positions are marked to market at the close of business each day.
A lot of our clients prefer this method however I understand it can initially be confusing, espcially if you have experience with other platforms. I've spoken to the devs about it and it is something they are looking into perhaps changing at some point in the future.
If you feel like you're going the long way round, give me a call and I'd be happy to run through the quickest way with you.
Vinay
JSMITH07611
Member
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dear vinay.ahir
I actually quite like the system the way it is now as it is a lot more transparent for me.
Please leave it as it is
thanks
I actually quite like the system the way it is now as it is a lot more transparent for me.
Please leave it as it is
thanks
Lacanau
Junior member
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Just so i understand correctly, your computers analyze the trades in reference to your companys situation before they are executed?
If as you say trades will only be routed to a dealing desk should they breach specific price tolerances, is that not in essence dealer intervention? Ok a person is not doing the analysis, but there is intervention nonetheless.
Vasco da Banana
Established member
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SBs need to avoid letting punters open trades that might be instantly in profit, by accident or otherwise. They also need to move the goalposts as much as possible to the disadvantage of clients when trades are closed, hence instant fills if it's to the SB's benefit, delays if it's going against them. The price to pay for such narrow theoretical spreads.
No it is not dealer intervention. Internal deviation for in coming prices set on the servers is a must for some market makers, depending on the execution model they use. How would they otherwise know if it is an old price they execute? How tight this internal deviation is set is another issue to be considered by the SB. Take your pick, a re-quote or natural slippage? However, it is manipulation if internal price deviation is set to target a specific client.