Comments on: WorldSpreads

By: Rodolphe De Tervarent

Rodolphe De Tervarent — Sun, 09 Oct 2011 14:29:45 +0000

Have had several problems with Worldspreads, namely:
All my positions were closed on a Friday evening after being told earlier in the day that I would have no margin issues. I called after market hours and was told by Alex, the trader, that he was too busy to help me and if my positions had been closed it must be due to an error on my part-I should call back on the Monday. I had no choice but to wait till the following Monday wondering what happened for WorldSpreads to apologise saying they had made a mistake and to reactivate my positions. The rudeness and lack of helpfulness were however very disappointing. I also tried to change my address which worldspreads would not do without proof of a bank statement. When I scanned through the statement, I then had to chase them to amend it as my email had been overlooked. Overall, their systems appear to work well enough but very unimpressed with the level of support!

By: Peter

Peter — Tue, 25 May 2010 01:54:35 +0000

The reason I like WorldSpreads is because they don’t automatically liquidate the position like some other companies do, they phone you and ask you to fund the account before they consider liquidation, and they’re polite with it, but you still need to watch the downside and work out how far lloyds might possibly fall before deciding what bet to place, and they do a June contract with a 0.25p spread

By: Soraya Rodrigues

Soraya Rodrigues — Tue, 18 May 2010 08:21:49 +0000

The people who are employed in the London office do not know the Terms and conditions on their own website, The only thing they come up with when challenged is the terms and conditions change at all times, they probably do not bother to update the website nor let the customer know beforehand.

Their way of making money is closing out all open positions at their discretion if the margin drops to less than 10% of loss without informing the customer that they are doing so.

By: spreadable

spreadable — Wed, 10 Mar 2010 09:49:31 +0000

I really liked twowayspreads platform (white label for worldspreads).

They also do a nice £250 back if you lose on your first few trades. However you try getting your money back when you want it! I requested a refund on 26th Feb, and they debited my trading account the same day. It is now 10th march and still nothing in my bank account. We are only talking hundreds of pounds so it should not be a major issue for their liquidity (I hope!). I have checked all the details with Twowayspreads, and checked and rechecked with my bank, but nothing. Twowayspreads say that t can take up to an incredible 15 working days to get your money, and that this has been a continual source of complaint and dissatisfaction amongst clients, yet they are doing nothing to change it. It all seems very weird as I can make payments from my own tiddly bank account to someone else’s and have the money arrive same or next day, so at best someone somewhere is having a bit of interest off all of the twoway traders who want their money back. Anyone else had problems??

By: jake

jake — Wed, 02 Sep 2009 18:07:25 +0000

I trade from the office where there are loads of limitations on what progs and site I can use. The only one I have found that works with our limited Java is Worldspreads. They have a simple system and as I trade FTSE Futures mainly now I like the fact that there is only a 1 point spread. They have also introduced some new graphs and they show movements from 1 tick right through to hours and it is quite good.

By: Louie Moser

Louie Moser — Thu, 14 May 2009 22:09:09 +0000

My comparison is between speed of Capital spreads fills – which can be slooow – and Worldspreads – faster, but you may get requoted several points away from your original click at fast periods – and IG, who are quickest, though I have rarely traded the news with them so do not know what they are like at busy periods.

For a few weeks earlier this year I made some profits trading on Worldspreads, who as i stated above are faster to fill, but was then put on refer to dealer which put an end to the profits. Now I get quick fills with them some of the time, in slow trading periods, but they always monitor trades after major announcements. At least though they will offer you another price – albeit sometimes way different from the one you clicked on – rather than CS’s “price no longer valid” which means you have to start all over again and have no idea if the next trade will go through either.