WorldSpreads

[laptop1]

Marvin

I have deleted post 339 If as you said it was not writing by you, I'm a fair man. any progress on you platform, I am still on referred to dealer on all my trades, Although I have not done a trade with you for some 5 weeks. not until I can go back on Auto trading again. I can't wait 30 seconds for fills with dealer.

 

[hungvir]

...

Hung got a small market report written by one and trully going out all day - you need to email [email protected] if you want it. I also send out the report to some journalists on a daily basis....

That's great, Marvin. I'll send an email to get it.

By the way, I read in the Sunday Times that Ladbroke recently came to Vietnam to persuade the government there to legalise gambling. Not sure if you've heard about a recent scandal there in which several state company directors spent millions of dollars betting on Premiership matches. May be spread betting is next?!

Cheers,

Hung

 

[MarvinS]

Lappers 1 - Thank you for being honest!
I will be giving you a response ASAP... or as soon as i know!

Hung - i heard a senior minister in Vietnam was caught up in a scandal regarding gambling with illegal bookies. Ladbrokes have a red banner i suppose it would fit into the whole communist look! Lots of punters in the Far East betting with illegal book makers, they probably take more than all the bookies in take in 1 year in a month. Lots of credit over there! I went to Macau a gambling sanctuary for mainland and HK punters - very seedy. They are trying to regulate but i suppose with regulation you do need experienced Western bookmakers. I showed some guys betfair.com - they could not believe you could lay bets.... The time will come when a revolution comes, it is already happening in China! Do you want it to happen in Vietnam?

Regards
Marvin

 

[marthart]

What is the update on Worlspreads ?
Is it still refer to broker. The demo platform is not so bad but I dont want to fund an account and then draw it out again .

Thanks

Mart

 

[mattmadd]

I guess that would work for punters who do not compare their prices against another source. Personally I have 3 quotes on the screen at any time (IG, Alpari & WS). It's not that I what Marvin calls a "System Trader", it's just that I want to ensure I get a fair price on entry.

Who is Alpari, pls advise.

MM

 

[laptop1]

My Sister have open an account with worldspreads.Marvin I hope you will look after her!

 

[chindl]

What is the update on Worlspreads ?
Is it still refer to broker. The demo platform is not so bad but I dont want to fund an account and then draw it out again .

Thanks

Mart

Mart

I have not had any issues with them to date, apart from an occasional referral during volatile periods. I do not trade large lots however, and that may be the reason. I trade only the Dow intraday with them on small lots as it's currently test account with a small amount at stake only.

Chris

 

[MarvinS]

Thanks Chris and i hope it has been profitable for you!
Laptop I will do my best to look after your sister responding to her emails...

 

[laptop1]

Just to let you know Marivn I have closed my account with for good. I have been waiting weeks for you to put me back on Auto trading, but was put on referred to dealer after 3 days of trading , I wont put up with your tricks waiting up to 45 sec for fills, one trade was 1,10. 70 seconds, not good enough, All because I was a profitable trader.

Also My sister is in dispute with "WORLDSPREADS" once I have the Power of Attorney over here account I be free to talk about her trading on this thread. I was sitting next to her on all her trades over 3 day period, so I have full understanding what she went through.

She have sent a second letter to Larry Stack Compliance officer at worldspreads.Lets see If Marvin Customer Relationship Management skills can sort it out with the Compliance Dept, before it goes further down the road. If not, I'm happy to take it to the FSA.and other sources

To all T2W Members, To many let they complaint go, a high percentage let it drop after they been sent the first letter from a spreadbet firm, saying something on the lines of. In you customer Agreement under 10,2 and 9,3 also under 25,8 Bla Bla Bla.

Look guys, If you put a case forward FSA ot other Bodies, they got to look at the case and take a view if you been dealt with fair and no misleading so on...So, if you feel you are right , take your complaint all the way AND DON'T LET IT DROP.

 

[Directional]

If anyone takes up a complaint with the financial ombudsman, its in the firms interests to sort it out adequately before it goes to arbitration, as the FO fee is £360 (paid by the member firm) just for looking into each complaint.

 

[laptop1]

If anyone takes up a complaint with the financial ombudsman, its in the firms interests to sort it out adequately before it goes to arbitration, as the FO fee is £360 (paid by the member firm) just for looking into each complaint.

Financial ombudsman have arrangements whereby the first two cases brought against a firm each year are free. so unless worldspread have had two cases brought against them this year, they may get away with it, but for sure they wont get away with me taking them all the way, once I have the Power of Attorney over my sister account,.I was sitting next to her on all her trades over 3 day period. I have full understanding what she went through.Plus what I have been through with them with holding trades.which as a result, I have closed my account with them.

 

[mattmadd]

Just to let you know Marivn I have closed my account with for good. I have been waiting weeks for you to put me back on Auto trading, but was put on referred to dealer after 3 days of trading , I wont put up with your tricks waiting up to 45 sec for fills, one trade was 1,10. 70 seconds, not good enough, All because I was a profitable trader.

Also My sister is in dispute with "WORLDSPREADS" once I have the Power of Attorney over here account I be free to talk about her trading on this thread. I was sitting next to her on all her trades over 3 day period, so I have full understanding what she went through.

She have sent a second letter to Larry Stack Compliance officer at worldspreads.Lets see If Marvin Customer Relationship Management skills can sort it out with the Compliance Dept, before it goes further down the road. If not, I'm happy to take it to the FSA.and other sources

To all T2W Members, To many let they complaint go, a high percentage let it drop after they been sent the first letter from a spreadbet firm, saying something on the lines of. In you customer Agreement under 10,2 and 9,3 also under 25,8 Bla Bla Bla.

Look guys, If you put a case forward FSA ot other Bodies, they got to look at the case and take a view if you been dealt with fair and no misleading so on...So, if you feel you are right , take your complaint all the way AND DON'T LET IT DROP.

Laptop, could you enlighten our knowledge what your sister complaint to WorldSpreads is ?

 

[laptop1]

Laptop, could you enlighten our knowledge what your sister complaint to WorldSpreads is ?

Hi mattmadd

Basically it's about how they fill prices, once I have Power of Attorney over my sister account, I will tell the full story.

 

[peto]

Laptop, could you enlighten our knowledge what your sister complaint to WorldSpreads is ?

And why you (presumably) advised her to open an account there when you have been having issues with them almost since you started?

I had a look at worldspreads for the 1 pip spread, deep down I new what would happen. only been with them a short time taking 400 quid a day off them, as you guessed, they have made it difficult for me to trade with them with holding quotes.

 

[laptop1]

And why you (presumably) advised her to open an account there when you have been having issues with them almost since you started?

Peto

Worldspreads advertise instant execution. I thought they would honour that for at least 1 day. which they did, she made over 300 quid I was confident she would make money on Auto fills.Thats why I told her to open an account. but the next 2 days, They introduced something new. which I didn't see when I was trading with them. I will tell all as soon, when I have Power of Attorney over her account. I seen all what happen I was sitting next to her.

As for my self, the problem I had when I was trading with them, I was unable to place a trade under 20 seconds on referred to dealer and 90% coming back with a different price from what I wanted.

Hope that answered you question

 

[peto]

Peto

Worldspreads advertise instant execution. I thought they would honour that for at least 1 day. which they did, she made over 300 quid I was confident she would make money on Auto fills.Thats why I told her to open an account. but the next 2 days, They introduced something new. which I didn't see when I was trading with them. I will tell all as soon, when I have Power of Attorney over her account. I seen all what happen I was sitting next to her.

As for my self, the problem I had when I was trading with them, I was unable to place a trade under 20 seconds on referred to dealer and 90% coming back with a different price from what I wanted.

On the 10th June MarvinS said they put people on re-quotes etc because

We have analysed some clients that have used our trading platform and they have in 1 example had 700 winning trades and 25 loosing trades. What this means is that some clients are trading off prices that are consistenly better than the markets and when our pricing system catches up with the underlying price they close out

He seems to be admitting that his platform lags the market and so those with a decent feed can easily beat WorldSpreads.
This admission tells me that their technology is dreadful. A company with such technology should not be in business, in my opinion. However accepting that, I cannot share your surprise that they (apparently) employ various tactics to stave off bankruptcy that would result from allowing their clients to take advantage of their antiquated systems.

Would your / your sister's system work profitably if used on a decent (perhaps direct access) platform, where fills are measured in milliseconds, spreads are tight and re-quotes don't exist?

 

[jimbo57]

...He seems to be admitting that his platform lags the market and so those with a decent feed can easily beat WorldSpreads.
This admission tells me that their technology is dreadful. ..

to be fair all the platforms lag the market to a degree, the sbs more than da as they have to adjust the underlying quoted prices to build in their spread. The kicker of course here is the tightness of the spread! Or not!

 

[laptop1]

peto

Yes, I trade applying the same method, trading EURUSD Futures, with a futures account and make money. The reason I open an act with worldspreads was, In their advert, they offered instant fills with a 1 pip spread. so I though I give it a go. The rest is history.

As for they slow price as you say, one would still need to know the direction of the market, ask Racer, she says the same thing, she is also on referred to dealer for being profitable trader.

 

[jimbo57]

so at the end of the day laptop you are just scalping them (or trying to) against your futures account?

 

[peto]

peto

Yes, I trade applying the same method, trading EURUSD Futures, with a futures account and make money.

Fair enough.
I note the Advertising Standards Authority http://www.asa.org.uk/asa/about/Gui...ads+and+promotions+does+the+ASA+look+into.htm accept complaints against advertisements on the Internet, include banner ads and pop-up ads, but not claims on companies’ own websites.