UK Spreadbet firms to be investigated by the FCA

JSSPMK said:
I've been with CMC Markets for a long time and my experience has been overall positive. I've also been a client of IG and City Index, also can't say anything negative about these two firms.
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CMC market used to call themselves Deal4Free in old days, and were nicknamed Steal4Free by traders for the obvious reason. Probably why they changed names.
During price spikes these firms will have an excuse to fuck you over at the worst price. Trading is hard enough, you dont need your broker trying to steal from you account as well.
 
southall said:
CMC market used to call themselves Deal4Free in old days, and were nicknamed Steal4Free by traders for the obvious reason. Probably why they changed names.
During price spikes these firms will have an excuse to fuck you over at the worst price. Trading is hard enough, you dont need your broker trying to steal from you account as well.
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Perhaps it is so, I only bet on stock index futures and luckily haven't experienced this. I have been 'screwed' by a US brokerage service though when their price ladder feed froze and resulted in me losing a fair bit of money.
 
JSSPMK said:
Perhaps it is so, I only bet on stock index futures and luckily haven't experienced this. I have been 'screwed' by a US brokerage service though when their price ladder feed froze and resulted in me losing a fair bit of money.
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You not have stop loss in the market at the time?
 
JSSPMK said:
I was rather green.
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Using stop losses doesn t mean u are any more market savvy. Long threads about those on ET. I hardly ever use them - can t remember last time i did actually. Others won t sent an opening order without a stop loss attached
 
luisHK said:
Using stop losses doesn t mean u are any more market savvy. Long threads about those on ET. I hardly ever use them - can t remember last time i did actually. Others won t sent an opening order without a stop loss attached
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All down to your risk management criteria, some allow for wiggle room, others don't. If your getout zone is tight a stop loss is probably a must IMHO.
 
As anyone who has ever had a sudden, brief computer problem, router problem, server problem, internet outage, power-surge or power-cut will quickly and firmly tell you, it costs nothing to enter at least a "disaster-stop" routinely, with every trade you ever make; it's just a no-brainer.
 
I follow JSS train of thought, not everyone trades the same way. But a no brainer ? Even while encountering regular connection issues i wouldn t use that term, and would actually be more afraid to be stopped out of a position during a seesawing movement than “”saved“” by a stop loss . Why would one think their way to do things is obvioulsy the right one, no matter one,s circumstances. Self confidence is probably helpful, but not convinced about lack of perspective.
 
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