ClaphamTrader
06-09-2006, 09:06 AM
Thought some of you spreadbetters will be interested in this. I haven't found any thighter spreads than this yet!
WorldSpreads.com has recently started doing 1 pip spreads on about half a dozen of their main index and currency pairs (within market hours).
1 pip spread on offered on
EURUSD
GBPUSD
FTSE, CAC, DAX & DOW rolling contracts
and possibly some others.
It's a promotional thing but it might be permanent if it gives them lots of business. If you're into spreadbetting I say sign up and make sure you tell your current broker. A bit of competition never hurts and helps to ensure brokers keep their spreads tight. ;) IG recently reduced their EURUSD spread from 3 to 2 pips!
I've signed up this week and put quite a few trial trades through to test out their internet dealing s/w. I would rank the interface as average overall.
The +'s are:-
- wide selection of instruments
- credit account available
- competetive spreads even on non-promotional 1 pips
- can select favourite traded instruments into your own portfolio
- can set orders based on either market or their quote prices
- can set a linked Closing order to your open positions (but no OCO yet! )
The shortcomings are:-
- no OCO orders! :(
- cannot place Stop or Limit levels on your Order
- no facility to auto txt your mobile when an order has been filled (useful if you haven't got an OCO in place)
- delay in filling some orders - some orders need to be referred to a dealer before being confirmed and filled. They says it's for fast moving markets, but it generally happens on almost all the 1 pip spreads. This should not make a difference if you are trading longer timeframes. To their credit, they have frequntly re-quoted me a better price of market moved in my favour over the 5-15 seconds it takes the dealer to confirm the quote.
- no graphing
- no alerts
I spoken with the dealer for some time and added all the above to a wishlist. Apparently the OCO facility is being worked on, but the more people request it the more likley they are, so make sure you tell them what you want & we might all get it sooner:D .
Also, so far in the 1 week I've been trading with them, all their orders have been filled spot-on with no slippage.
I have not tried buying/selling over the phone yet so can't comment how good they are with that.
Apart from being an account holder, I am not connected to the company.
But if you do open an account, I'd appreciate it if you mention my name - D.Parylo - when you confirm your account opening over the phone and I might get a case of wine out of it:). If you're in London, I'll even share it with you.
Hope the above has been useful.
Regards,
Dariusz
WorldSpreads.com has recently started doing 1 pip spreads on about half a dozen of their main index and currency pairs (within market hours).
1 pip spread on offered on
EURUSD
GBPUSD
FTSE, CAC, DAX & DOW rolling contracts
and possibly some others.
It's a promotional thing but it might be permanent if it gives them lots of business. If you're into spreadbetting I say sign up and make sure you tell your current broker. A bit of competition never hurts and helps to ensure brokers keep their spreads tight. ;) IG recently reduced their EURUSD spread from 3 to 2 pips!
I've signed up this week and put quite a few trial trades through to test out their internet dealing s/w. I would rank the interface as average overall.
The +'s are:-
- wide selection of instruments
- credit account available
- competetive spreads even on non-promotional 1 pips
- can select favourite traded instruments into your own portfolio
- can set orders based on either market or their quote prices
- can set a linked Closing order to your open positions (but no OCO yet! )
The shortcomings are:-
- no OCO orders! :(
- cannot place Stop or Limit levels on your Order
- no facility to auto txt your mobile when an order has been filled (useful if you haven't got an OCO in place)
- delay in filling some orders - some orders need to be referred to a dealer before being confirmed and filled. They says it's for fast moving markets, but it generally happens on almost all the 1 pip spreads. This should not make a difference if you are trading longer timeframes. To their credit, they have frequntly re-quoted me a better price of market moved in my favour over the 5-15 seconds it takes the dealer to confirm the quote.
- no graphing
- no alerts
I spoken with the dealer for some time and added all the above to a wishlist. Apparently the OCO facility is being worked on, but the more people request it the more likley they are, so make sure you tell them what you want & we might all get it sooner:D .
Also, so far in the 1 week I've been trading with them, all their orders have been filled spot-on with no slippage.
I have not tried buying/selling over the phone yet so can't comment how good they are with that.
Apart from being an account holder, I am not connected to the company.
But if you do open an account, I'd appreciate it if you mention my name - D.Parylo - when you confirm your account opening over the phone and I might get a case of wine out of it:). If you're in London, I'll even share it with you.
Hope the above has been useful.
Regards,
Dariusz