Want new SB company

jezza888

jezza888

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It seems each and every day I find another reason I don't want to be with CS.

Out of all the SB companies who comes highly recommended for intraday spot FX?

I have an account allready with IG Index which I haven't used for a long time (since I changed to FX) and have been using CS.

I know most of the benefits of IG but not sure on their current pitfalls and know little about any others (ie D4F, finspreads etc)

Can anyone enlighten me on the others available and/or suggest a good reliable SB company for FX?

Cheers

J
 
jezza888 said:
It seems each and every day I find another reason I don't want to be with CS.

Out of all the SB companies who comes highly recommended for intraday spot FX?

I have an account allready with IG Index which I haven't used for a long time (since I changed to FX) and have been using CS.

I know most of the benefits of IG but not sure on their current pitfalls and know little about any others (ie D4F, finspreads etc)

Can anyone enlighten me on the others available and/or suggest a good reliable SB company for FX?

Cheers

J
Click to expand...
#



What's wrong with CS? D4F i think have 3pip spread on majors and seem ok
 
Numerous small problems I keep having with them and it all adds up to not achieving what I'd like.

Maybe I'm just being picky? The fact that this morning the site was down and so couldn't place a trade which meant I missed 20 pips as I can't phone in my order. A few days back a protective stop was hit when four other charts I checked stopped short by 3 or 4 pips. Other little things.

The other factors of 24hr trading, live charts and possible PDA trading also appeal (IG and Cantor only I think)?

Just trying to improve my overall income!
 
actually... I've been also thinking of trying out some other company... why should we pay for huge spreads?!.. recently got a brochure from twowayfutures... they seem to have pretty low spreads... virtually
1-2 points for DOW for eg.. only problem is that the minimum account value to start with is 5K GBP.. which is not a lot .. but seems a lot just to try out stuff.... what I detest doing is pumping in money into a SB company and then calling them up after a few weeks to take it all out since I did not like their platform!

what I'm looking for is someone who has dealt with both IB and Twowayfutures - and enlighten on the pros/cons of each please! for eg: one good thing about IB is account startup value ~2K GBP

cheers,
karmit
 
IB is a proper regulated broker. As such they give you direct access to the market. i.e. the spreads are the market spreads and IB make no money from them. IBs trading platform is very versatile and you can do every kind of order you may dream about for just about any market. The winnings from IB may be taxable depending on personal circumstances. IB is owned by Timber Hill and in a recent survey was found to be the US's most solvent broker. They make money on commissions which are low. IB has a free API allowing you to develope your own trading systems and front end. I have my own platform for trading Currencies on IdealPro IBs Spot Currency market.

Twowayfutures is located in Gibraltar and thus outside of UK law. At present they are not FSA regulated. They make money by increasing the spread. They are a Spreadbet company and claim that all winnings are not taxable. This needs to be confirmed with suitable legal advice as they are outside the UK. Additionally professional traders may be taxed on winnings from Spreadbets. Deal4Free put up such a notice on their site. The financial status of Twowayfutures is not known.

My opinion is that if you want to spreadbet use a UK FSA regulated company.
If you want direct access along with its cheaper costs then go IB or its like.

JonnyT
 
jezza888 said:
How do they rate as you get larger than 1p?

J
Click to expand...

Finspreads are OK, but if you think CS has been quirky then dont go near Fins. The number of 'technical problems' which appear at market moving times will leave you seething and running back to CS.

They rate the same basically, same platform, same account, no change at all except I think you trade a min of 50p a point?

I've had my differences with CS and cant fault their customer service, they are very helpful and would recommend them over Fins any day. Fins may appeal more to people starting out as the stakes are smaller but you will see problems.
 
kevinmcm said:
Finspreads are OK, but if you think CS has been quirky then dont go near Fins. The number of 'technical problems' which appear at market moving times will leave you seething and running back to CS.

They rate the same basically, same platform, same account, no change at all except I think you trade a min of 50p a point?

I've had my differences with CS and cant fault their customer service, they are very helpful and would recommend them over Fins any day. Fins may appeal more to people starting out as the stakes are smaller but you will see problems.
Click to expand...


Cheers for that. By the sounds of it, moving to Finspreads may not smooth out the little problems.

Anyone any thoughts on the comparisons with CS for either D4F or IG?
 
jezza888 said:
Numerous small problems I keep having with them and it all adds up to not achieving what I'd like.

Maybe I'm just being picky? The fact that this morning the site was down and so couldn't place a trade which meant I missed 20 pips as I can't phone in my order. A few days back a protective stop was hit when four other charts I checked stopped short by 3 or 4 pips. Other little things.

The other factors of 24hr trading, live charts and possible PDA trading also appeal (IG and Cantor only I think)?

Just trying to improve my overall income!
Click to expand...

Live charts would be useful. think Simon has posted that they are in the pipeline. If you can show CS that the price was not in the area you were stopped at then they should not have a problem in resolving your issue. I dont mean telling them chart X or Y shows a different price. Get some EOD data and ask them for theirs. If you are sure it was stopped too early someone has the wrong data. CS are not in the habit or bumping stops to suit themselves. Not had a problem with that sort of thing.
 
I've decided to use Linux as my OS due to stability and speed for trading. Unfortunately CS doesn't work through newer versions of FireFox, Fins does.

In my trading I will not be placing stops with SB Co's as like you say they do somehow tend to get triggered...

JonnyT
 
jezza888 said:
Cheers for that. By the sounds of it, moving to Finspreads may not smooth out the little problems.

Anyone any thoughts on the comparisons with CS for either D4F or IG?
Click to expand...

Sorry, haven't used either of the latter two. I only use CS for fx trades, though it annoys me that the 24 option is not there, if its coming then I am in no rush to move. Just be nice to catch the occasional after hours move.
 
JonnyT said:
I've decided to use Linux as my OS due to stability and speed for trading. Unfortunately CS doesn't work through newer versions of FireFox, Fins does.

In my trading I will not be placing stops with SB Co's as like you say they do somehow tend to get triggered...

JonnyT
Click to expand...

Thought it worked OK with Firefox? I went down the Linux route a few months back as well and I'm sure I was able to connect to my trading platforms. What I couldnt get to work was fx charts running as applets. Sticking with Windows for my trading as it works.
 
kevinmcm said:
Sorry, haven't used either of the latter two. I only use CS for fx trades, though it annoys me that the 24 option is not there, if its coming then I am in no rush to move. Just be nice to catch the occasional after hours move.
Click to expand...

The 24hr option would be good and I can live with the occasional stopped out (at least it was in profit!) I think if the live charts arrive soon and the platform doesn't have too many occasions when you can phone trade only I'll be content.

It would be nice to have PDA trading mind. I'm yet to fully discover the pros / cons of the other two and I guess things could be worse at CS.

J
 
JonnyT said:
I've decided to use Linux as my OS due to stability and speed for trading. Unfortunately CS doesn't work through newer versions of FireFox, Fins does.

In my trading I will not be placing stops with SB Co's as like you say they do somehow tend to get triggered...

JonnyT
Click to expand...


It is funny how that happens....! :rolleyes:
 
kevinmcm said:
Thought it worked OK with Firefox? I went down the Linux route a few months back as well and I'm sure I was able to connect to my trading platforms. What I couldnt get to work was fx charts running as applets. Sticking with Windows for my trading as it works.
Click to expand...
Firefox 1.04 works, Firefox 1.06+ doesn't

I fixed the applets bit by linking the Java plugin to the firefox plugins directory.
Java integration works a treat,

Capital spreads use Flash so it might be something to do with Flash / Firefox.

I would have set up an account with them if they supported Firefox.

There loss I suppose.

JonnyT
 
jezza888

Other than having your stop hunted, what other negative issues have you had with CP ?

I have an account with CP and D4F. In recent months I have just been using CP.

The speed of order confirmation has become very variable. Yesterday it was very slow. This of course causes the problem that by the time they are ready to process your order, if it is, by that time, running in your favour, they tend to tell you the "Price Has Expired" though if it is against you get the fill. That is my main grind on CP. D4F offer an instant requote, from memory.

Simon / CP do a great PR job on this site, though I am not sure that should be used, from the client side, as a measure of good service. I would be happy to lose the PR job but gain more consistancy on the fills and other technical issues.
 
Spreadbetteur said:
jezza888

Other than having your stop hunted, what other negative issues have you had with CP ?

I have an account with CP and D4F. In recent months I have just been using CP.

The speed of order confirmation has become very variable. Yesterday it was very slow. This of course causes the problem that by the time they are ready to process your order, if it is, by that time, running in your favour, they tend to tell you the "Price Has Expired" though if it is against you get the fill. That is my main grind on CP. D4F offer an instant requote, from memory.

Simon / CP do a great PR job on this site, though I am not sure that should be used, from the client side, as a measure of good service. I would be happy to lose the PR job but gain more consistancy on the fills and other technical issues.
Click to expand...

Speed, 24hr trading, live charts, PDA trading, stop hunting and site down (phone only) are my main issues... Other than that they are great! :LOL:
 
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