VC Financials / WorldSpreads.

[The Leopard]

@ Jungerns:

people get put on dealer referral when they are conducting their business in a way that is not mutually beneficial.

people want to have their cake and eat it - narrow spreads, immediate execution regardless of market conditions, an all singing all dancing platform. the funny thing is there are SB firms who actually deliver on these requirements and people still moan!

the bottom line is that i want the broker i'm using - SB or otherwise - to make money from me and their other clients. lots of money. this will mean that;

a.) they will still be there tomorrow
b.) they will want to speak to/deal with me, and will value my business.

therefore, if i were trading £5k a point of dow (i'm not) i would call up and ask to speak to a senior dealer, explain that i'm looking to knock about in good size, and ask how best to go about it so that we could both make some money.

i wouldn't log on to an internet platform, whack 5 grand in the size box and click 'buy' whilst chuckling to myself at the 5 lots on the offer in the underlying.

Good post.

 

[Ross Spur]

@

i wouldn't log on to an internet platform, whack 5 grand in the size box and click 'buy' whilst chuckling to myself at the 5 lots on the offer in the underlying.

Maybe that's what Fibbin starchy is doing?

 

[The Leopard]

Maybe that's what Fibbin starchy is doing?

You are just envious of his success, you looser. He is clearly a very successful trader who was hitting Worldspreads for a couple of million a year on zero spreads.

What is so unbelievable about that?

 

[gle101]

You are just envious of his success, you looser. He is clearly a very successful trader who was hitting Worldspreads for a couple of million a year on zero spreads.

What is so unbelievable about that?

Take it easy. So why did he complain about a losing trade in the first place? He knows the risk trading with a small SB, yet he couldn't regard this trade as an ordinary nonperforming trade. So my guess he was in with too much money, unfortunately at a time when the SB company went bankrupt, he was extremely unlucky with the timing of the trade.

Sorry if your post was a joke.
____________
"Take control with Risk & Money Management"
http://www.trade2win.com/boards/pla...140296-visualrmm-interactive-new-concept.html

 

[Ross Spur]

You are just envious of his success, you looser. He is clearly a very successful trader who was hitting Worldspreads for a couple of million a year on zero spreads.

What is so unbelievable about that?

Just when I thought I was making progress with my counsellor at Losers' Anonymous, you go and spoil it all.

 

[The Leopard]

Take it easy. So why did he complain about a losing trade in the first place? He knows the risk trading with a small SB, yet he couldn't regard this trade as an ordinary nonperforming trade. So my guess he was in with too much money, unfortunately at a time when the SB company went bankrupt, he was extremely unlucky with the timing of the trade.

Sorry if your post was a joke.
____________
"Take control with Risk & Money Management"
http://www.trade2win.com/boards/pla...140296-visualrmm-interactive-new-concept.html

It was a joke. I struggle to believe that Fibbin' Starchy was hitting Worldspreads for £10,000 a day paying zero spreads. I think Ross knew I was joking.

 

[gle101]

It was a joke. I struggle to believe that Fibbin' Starchy was hitting Worldspreads for £10,000 a day paying zero spreads. I think Ross knew I was joking.

Yes I thought so after looking over your post again, ha ha.

 

[Ross Spur]

Yes I thought so after looking over your post again, ha ha.

Don't worry, gle, I'm sure our Swedish is a million times worse than your English!

 

[gle101]

Don't worry, gle, I'm sure our Swedish is a million times worse than your English!

Yes probably so, thanks.

 

[brasil2000]

Update from Victor Chandler Financials and Worldspreads


Dear Customer

We just wanted to update you on the latest situation surrounding Victor Chandler Financials and Worldspreads.

At this time there have been no further formal communications from the administrator, the FSA or the FSCS in relation to the current progress or otherwise of the winding up of Worldspreads operations.

We have had limited interaction with the administrator and the FSCS around our proposals for facilitating the more timely return of your money but it is proving difficult to co-ordinate this exercise as everyone (including the FSCS and FSA) are unable to make any commitments ahead of vital information releases. In particular it is crucial that they are able to provide the various authorities the exact make up of client balances and determine whether those balances all qualify for the retail client compensation schemes. Rest assured all Victor Chandler Financial clients were documented as retail clients. However, progress will be held up until this information is made available to all the relevant authorities (and ourselves).

We understand today that the administrator is hoping to determine all client balances and whether they qualify for FSCS in the near future. At that point it will allow us as Victor Chandler Financials (BetVictor) to make a more detailed proposal to the FSCS and administrator. It is our objective, that by offering security (a cash deposit) to the authorities in relation to Victor Chandler Financials clients, that they will generate payment to you in a more timely fashion and save unnecessary effort on all sides.

Please note we are still very much in the hands of the administrator at this time and also dependent on the authorities agreeing and getting legal acceptance and understanding on our alternative approach.

Please therefore look out for further correspondence in the near future.
If you have any specific questions please get in touch with me on this email address.

Best Regards

Paul Chesterton

Head of Victor Chandler Financials

BetVictor

 

[instant]

this is actually quite a brave move by VC as the FSCS may well turn round and say "we are not going to pay anything to VC clients because VC has indicated that they 'may' recompense any shortfall" the FSCS could then say we will not pay anything because VC have stepped in

chicken and egg ........ VC may protect everything above 50k (after the FSCS pays out up to 50k) but the FSCS will then say that "eeerrrr why should we then pay up to 50k as there is a creditor out there willing to top this up"

the FSCS is the payer of "last resort" not second or third ..... "last"