TwoWayFutures

[adrianbuthee]

At TwoWayFutures, we only accept intermediate clients since you are trading a specialised product, i.e. futures.

I would recommend you read up as to what that means and check on your own suitability. I am sure the FSA website has plenty of literature about that. Futures brokers must only accept intermediate clients or market counterparties...not private clients.

They are the rules.


Kind regards

Adrian

 

[karmit]

At TwoWayFutures, we only accept intermediate clients since you are trading a specialised product, i.e. futures.

I would recommend you read up as to what that means and check on your own suitability. I am sure the FSA website has plenty of literature about that. Futures brokers must only accept intermediate clients or market counterparties...not private clients.

They are the rules.


Kind regards

Adrian

so... what is the answer to my two simple questions?

 

[rossored]

They are the rules.

Speaking of rules, I'd like to point you in the direction of ours:

Site Guidelines.

We do not permit advertising here, and like it or not, that is what you're doing. If you want to answer questions, then I'm afraid they will be answered here for everyone to see, or not at all.

No more URL's in your messages, please, and no more email addresses.

 

[markjpwill]

so... what is the answer to my two simple questions?

As a client of these guys I'll answer these becuase I feel poor adrian is getting a kicking for nothing. I will openly declare up front I visit these guys offices every few weeks as i go via milton keynes to the wilds of Cheshire. They make a nice cup of tea and they have a wireless hotspot there, so its a neat place to go online for free (tight fisted, but it saves me a few quid).

The first question is :

>does it mean that any money deposited is not "safeguarded" as per FSA rules?
>i.e "100% of first 2K and then 90% of next... " blah blah???

I looked into this myself and they are regulated by the FSC (Gib equivalent of FSA).

They run an investor compensations cheme that seems to have:

The total amount of compensation to any claimant shall be limited to the lesser of–
(a) 90% of the total amount of all eligible investments held by that claimant with the investment
firm in default (wherever held); or
(b) the sterling equivalent, as calculated under sub-section (6) on the date of declaration of default under section 9(1), of euros 20,000.

So its not as good at the FSA one, not that I have ever heard of a SB or futures company goinf bust anyway (has one?). in my case it doesn't matter its limited anyway becase i start every month with a set amount in my account and 20k euros is enough for me. so as far as i am personally concerned, this is perfectly adequate for me.

>also, do you pay any interest on deposits?

well i don't get any, so i assume nobody does!!! having said that i never remember getting any from interactive brokers (but maybe i didnt notice, i suppose on £5-£10k it wouldnt be much).

as i said earlier, i have tried the service, for me (and not for everyone) i find it better than ib. thats a personal thing though. each to their own, one mans meat etc.

for balance, the thing i like least about the service is the way the prices are quoted. they quote with the spread intact.

ie. s&p is quoted as being at 1200.0125 @ 1200.2625 when they are trading 1200 @ 1200.25

NOTE: this is an example to make the issue easier to understand, not the real spreads

this takes a few days to get used to after getting used to pure futures. i imagine this has something to do with it being a spread bet so the law must make them show the prices? either way i don't like it.

the other thing i dont like is that they dont do equities although i've been told they are looking at it.

the final thing i dont like is that when you log on you log on twice - one to somethng called a vpn (security thing) and then once to the actual trading platform.

OK so thats 3 things i don't like. but FOR ME the benefits outweigh the drawbacks.

 

[klw]

2wayfutures

rossored -- why are you being so hard on adrianbuthee,people are asking genuine questions and making the odd less than favourable remark and he is answering on behalf of his company.I don't see any blatant advertising,e-mail or URL addresses.The reference to Google is well known to anybody who works with computers,JonnyT published the URL.

He has taken the time out to come to this thread and reply and I hope he comes back and answers the outstanding questions as well.

They potentially have a product that can revolutionise the way we trade,futures contract trading without paying any tax.Choosing the right broker is as important as money management ,sufficient bankroll and all the others,they can make you or break you.

I have no connection with this company ( trying not to advertise here ) and came to this chat board to seek knowledge.All replies to date are greatly appreciated and are helping me to make an informed decision.

p.s. rossored did you oversee the security at the labour party conference on Wednesday ?

just kidding , have a good day ............

 

[JonnyT]

Here are my questions: D

1) Does FSC regulation apply to foreign nationals? i.e. if you are a UK citizen do you get the protection in Gibraltar?

2) Are profits tax free as the Spreadbet Firm is not a UK entity and thus UK law might not apply?

Personally I don't like going through three companies to get the service I want as it rings alarm bells in my head.

JonnyT

 

[rossored]

Actually I have said to Adrian and many other people that they are quite welcome to use the boards to communicate in much the same way as Simon from Capital Spreads does, over on the Spread Betting forum. However, we must have a uniform standard and that is shown in the site guidelines.

I would be very happy - as I have said to Adrian - for him to use this thread or any other to communicate with either existing or potential members, but it needs to be totally transparent in that all Q&A's are done via the boards, and not via email or elsewhere. He is of course also welcome to defend his company, respond to innaccurate postings (should there be any) and so on.

Any thread used as such would be of benefit to both TWF and the members, because potential clients would be able to treat the thread as a lengthy FAQ. As such, my statement was actually in the interest of the members, T2W and TWF.

And no, I wasn't at the Labour Party Conference 😉

 

[bulldozer]

rossored -- why are you being so hard on adrianbuthee,people are asking genuine questions and making the odd less than favourable remark and he is answering on behalf of his company.I don't see any blatant advertising,e-mail or URL addresses.The reference to Google is well known to anybody who works with computers,JonnyT published the URL.

He has taken the time out to come to this thread and reply and I hope he comes back and answers the outstanding questions as well.

They potentially have a product that can revolutionise the way we trade,futures contract trading without paying any tax.Choosing the right broker is as important as money management ,sufficient bankroll and all the others,they can make you or break you.

I have no connection with this company ( trying not to advertise here ) and came to this chat board to seek knowledge.All replies to date are greatly appreciated and are helping me to make an informed decision.

p.s. rossored did you oversee the security at the labour party conference on Wednesday ?

just kidding , have a good day ............

===================================================================

KLW,
I suport yur views /coments 100%!! 😎

I can see that you have yur brain in the right place. 😎 Having the right broker wiv just rules and on margin is paramount!! Tax / fees benifits take second place IMHO.
A friend of mine had his positions liquidated cause he was LESS than £100 or $100 on margin call!! And he has NOT made any profits over 2 yrs! So plz tell me how he has benifited by cheap fees and tax free sweetners???
I use brokers and not SB companies, why? cause their rules suit my trading style and they NEVER liquidate without giving a few days warnings! As for tax issue? Yes I'm happy to pay cause it means i made a profit and the brokers rules has help'd a GREAT deal to achieve my profits.
Cheap fees and SB companies does NOT always = good deal [speakin from 20yrs experience folks]
By the way you dont need good english or gramma or to be good at spelings to be a successfull trader!! :cheesy: Just good wisdom should be enough!! [incase some member has picked up on my bad english/gramma/splgs

Bull

 

[adrianbuthee]

JonnyT,

The answer to both questions is yes. Clients are protected by the FSC, regardless where they are from. You may indeed want to check that with the regulator, that's up to you. Profits are tax free in the UK (under current legislation).

Bulldozer, I respect your points regarding Spreadbetting companies, but since we add on a fixed spread around the live market price, it is almost identical to trading the underlying. The streaming prices are direct from the exchanges.

Since no other spreadbetting company has offered this before I can understand why questions are being raised, but I would argue that if you can get the same trading experience with us than you can from your futures broker and you have the option of tax and no tax then it is a no brainer.

Kind regards

Adrian
TwoWayFutures

 

[JonnyT]

Hi Adrian,

This is a legitimate question.

What is the spread etc on EUR Globex future. i.e. what do you add on to the normal spread of 0.0001?

Thanks

JonnyT

 

[adrianbuthee]

Hi JonnyT

Well, my answer to that depends on what sort of volume you do. In our lowest volume tier, we add on 1/2 a pip per side, basically making the spread 2 in effect since the typical market spread on the EUR/USD future is 1 pip. Depending on volume, we can go much lower, to even 0.1 of a pip.

For example, at the moment the EUR/USD future is trading at 1.2000 - 1.2001 at on the CME so if you wanted to buy at market we would quote 1.20011 as your execution price, the 0.1 pip being our charge.

Like I say, it all depends on volume.

Let me know your volume per month and I will give you a quote...of course you may want to PM me for that....that's up to you.

Kind regards.

Adrian
TwoWayFutures

 

[JonnyT]

Initially lets say 120 round turns a month

JonnyT

 

[adrianbuthee]

Ok, I assume you mean 1lot traded 120 times a month. That would put you at 1/2 a pip per side, so essentially a 2 pip spread all in all.

Regards

Adrian
TwoWayFutures

 

[klw]

2wayfutures

Hi adrian -- Are you aware of anyone that has had a tax return audited in Great Britain and thier winnings from 2wayfutures spread bet of a future in Gibralter have been excludued as taxable income for taxation purposes?

Or conversely,has anyone complained that thier winnings from trading the above method were included as taxable income for taxation purposes?

Many thanks in anticipation ............

 

[adrianbuthee]

Great lengths have been gone to to ensure the tax free nature of our product. In a nutshell, a spreadbetting licence in Gibraltar has been acquired and under current UK legislation, profits arising from spreadbetting are tax free. Simple as that.

I would always recommend with anything like this though that if in doubt, please seek independant advice from your tax advisor.

Kind regards

Adrian
TwoWayFutures

 

[tommog]

This beats any spread betting company!

Hi,

I was wondering if any of you trade with twowayfutures.com.? If you are a serious spreadbetter there is surely no comparison? This company deals straight into the futures market, you are quoted exactly what the price is on CBOT CME or any other leading exchange, you can see market depth and and trade as a scalper would i.e allowed to bid at the offer. It is basically futures trading but converted into a spreadbet so tax free. I spoke to them on the phone and they are extremely helpful, basically what happens is you place a trade with them as a spread bet, they place the exact same trade (to the tick) in the real market, so in effect you trade on their behalf, and they give you the winnings they make in the real market if you are right tax free, if you are wrong you pay them what they lost in the market from your own account. They make their money by adding slightly to the spread but it is minimal compared to what spreadbetting firms charge (we are talking less than one point comission)
Because you are basically trading futures the spreads are that of a futures contract 1point for dow for example.
I am joining these guys coming from trading spot FX but moving into futures, but i thought i'd let you know about this company also because it looks a great move for people currently spreadbetting.

tom

p.s although a spreadbetting firm in the eyes of the law this company is a futures trading company in every other way so its probably only suited to the more experienced trader that currently spreadbet at least £5 a point currently as minimum lot size of the futures market is rarely any smaller than this

 

[JonnyT]

Have you contacted the FSC in Gibraltar and asked them what protection is afforded to a UK account holder?

JonnyT

 

[tommog]

I haven't contacted FSC Gibralter, but i did speak to one of the people at twowayfutures and asked them several questions on how secure my funds are, they told me all funds are held in segregated accounts in Barclays London, this suggests UK security laws apply?

 

[JonnyT]

What if someone at twowayfutures acted illegally? (I'm not for one minute suggesting they would)
They are not regulated to hold client funds so the Investors Compensation Scheme wouldn't apply.

I've written to the FSC in Gibraltar and asked for some answers to various questions.

JonnyT

 

[karmit]

...and I don't like their requirement of min. 5000 GBP deposit... people would like to experiment first and would not want shift accounts of 15K+ straight to twoway w/o knowing regulatory status/ security/ platform etc...