Worldspreads suspends shares?

W

warmbeer

Newbie
Messages
2
Likes
0
I have just tried to place a trade with Worldspreads and cannot do so online. Speaking to their dealing desk they tell me that they are only allowing clients to close out trades and that their shares have been suspended.
Does anyone have any more information on this situation?
 
warmbeer said:
I have just tried to place a trade with Worldspreads and cannot do so online. Speaking to their dealing desk they tell me that they are only allowing clients to close out trades and that their shares have been suspended.
Does anyone have any more information on this situation?
Click to expand...

They wont let you withdraw funds either, doesnt look good!
 
I received their grovelling emails in the last few weeks basically saying they will let you trade zero spreads for £500 deposit with money back guarantee, all very desperate, seen it before will see it again lol.
 
YouAreNotFree said:
People on here still trade with these guys?

Good luck.
Click to expand...

Well yeah that is a mystery, only bucket shop I would touch would be IG,
even then only for certain things.
Probably not what anyone with money in WS wants to hear right now though...
 
This is the reason why I personally prefer DMA....they auto hedge every position meaning the house risk is limited. I can only assume they had many un-hedged long positions, and with the markets rallying since the turn of the new year, has subsequently come back to severely bite them in the backside!
 
DJS1 said:
This is the reason why I personally prefer DMA....they auto hedge every position meaning the house risk is limited. I can only assume they had many un-hedged long positions, and with the markets rallying since the turn of the new year, has subsequently come back to severely bite them in the backside!
Click to expand...


The market rally would have helped them - more than 70% of retail clients have been short (source IG Insight)
 
Doesn't necessary mean this is the case for WorldSpreads...IG insight only shows IG clients! What other reasons could it be? Un-regular trading patterns maybe LOL? Effectively another way of saying clients were winning......
 
From their 28'th Feb statement: "The Board believes that the Group has recently been experiencing an unusual pattern of client trading and fully expects a more normal trend to prevail in future. The Group maintains a strong balance sheet with net cash of €7.0 million as at 31 January 2012".

Does "unusual" in this context mean clients suddenly started winning ? Maybe that is good news?
 
Finance guy leaves then CEO leaves. Smells like a sinking ship full of rates just waiting to run out from under the furniture lol.
 
Maybe this is what happens when clients start winning!-- we'll all be on dealer referal come Monday!
 
You'd think that the unexpected sustained rally this year would have been good for business, so maybe it's their past catching up with them. No doubt another SB will buy out all WS's clients (if they have any left).
 
You must log in or register to reply here.

Similar threads

K
LSE suspends trading - IG Index
Replies
4
Views
2K
£10kLoser
£10kLoser
G
Worldspreads upgraded!
38 39 40
Replies
795
Views
94K
Jack Hughes
J
P
Suspended Pending Announcement
Replies
2
Views
2K
peterboroughmatt
P
B
Worldspreads Cashback
Replies
4
Views
1K
Dannygee112
D
M
VC Financials / WorldSpreads.
2 3
Replies
50
Views
7K
instant
I
Top