Platform

At long last spread betting company Capital Spreads finally released iPhone app and as they are my preferred spread betting company I decided to give it a try.

Overall, the app is very easy to use and place and amend trades. I tried it when I was out with my friends and even it worked great.

It is so simple and fast that I now actually use it more often than web browser based version.

I didn’t manage to post some of my trades lately, but I’m playing around with EUR/USD as it is so volatile now and iPhone app lets me monitor my positions on the move.

As I mentioned before the time has come for me to try out SpreadCo, I’m very tempted by their ultra tight spreads on FTSE100 and the Dow (currently 0.8).

Having navigated through their trading platform I find it a bit difficult to use and I assume it takes time to get used to it. I talked to them and they advised me to use their downloadable version as it is considerably better and has much more technical indicators. I personally think browser platform is easier to use but the charting package needs to be improved.

Overall, even though the platform is not up to scratch I think I’m going to stick with them for a while as their spreads are the most competitive on the market and they don’t charge you for short positions carried out overnight (most of the spread betting brokers pay for short overnight possitions LIBOR – 2%, since LIBOR is so low we end up paying).

PS: Special thanks to IndependentInvestor.co.uk for keeping SpreadCo review up to date.

Just found out that spread betting broker SpreadCo have become the most competitive financial spread betting company out there by cutting their spreads again.

Check this out:

FTSE100: 0.8pts

DJ30: 0.8pts

EURUSD: 0.8pts

US Crude: 4pts

DJ30 and US Crude partucularly stand out as they are by far the best spreads around.

Now I need to check their platform… in all honesty it’s not the best and it takes time to get used to it, but once you get used to it it’s easy to trade.

Click here to give them a try.

That’s it. I am one of the millions who join to the herd. I bought it so I can follow my trading when I am outside my office. But Capital spreads (which have the best spreads and platform) doesn’t support it

I contacted them today and they say they are working on app that will allow iPhone traders to trade. Can’t wait!

Ever since I’ve started trading I am looking for good charting package. I tried Sharescope and eSignal and didn’t like the interface. At the moment I am using IG Markets advance charting. It is quite good but there is a big problem. Have a look on this chart of Rio Tinto

See the third candle from the right (where the red line is)? on this chart the high of Rio Tinto on the 4/8 was 3503 and it is outside bar of the candle before.

I am using a lot the inside & outside bar patterns so I would create an order to buy the next day at 3505 or so.

The problem is that this price is fake. Rio didn’t even came close to this price. You can see it on the chart from MoneyAM website:

The high of that day was 3440. Huge difference! So what is going on? From time to time IG and other spread betting providers have some problems with the data they get and the prices jump for a second much higher. This doesn’t affect your positions and orders but it does affect the chart you see.  So you can’t really trust them. It is like driving 80 MPH while your meter says you are only 70. Then try to explain it to the police officer.

It is a shame because their charting package is quite good and cheap (£30 a month free if you trade 4 times) but they don’t clean the data and it is a problem.

I am still looking for good package! Anyone?