Hi guys, not sure how many of you have faced the issue with variable spread. But I find it very difficult to day trade with the CFDs in last one month or so.
It always feels like the price are stuck in the direction the market is moving. For example when the market moves up, the buy price moves up, but the sell price does not move in the same pace. So you end up buying a share but you cannot sell till the market moves down.
Yesterday I had a short position on SIG at the start of the day, but when the market moved furtther down the buy price remain stuck and never changed. I ended up losing 100 pounds as I could not close the position on tiime.
I was very happy with the platform when I joined, but since last month or so it has been very disappointing. I would like to use a product that works with me and not against me. Basic of building a user centric product.
@Avi We don’t base our spread on market movement or what/how a client is trading. We only follow the underlying (real market) spread + a flat markup on the CFDs.
If the underlying instrument’s sell price moves while the buy stays flat, we do the same, if the ask moves without the bid - same.
Hello @David - thanks for getting back to me. I have compared the trading 212 prices with IG and plus500 and could not find this problem there. the prices were freely moving in both directions.
I love trading 212 as a product and the recent updates on dynamic spread is frustrating to say the least.
Why not borrow the money and pay interest, and go long the appropriate amount. A self made leverage product will be cheaper than T212 creating it for you.
@Avi As said earlier, we’re not working the spread against the market movement, that would be too complicated & honestly, I don’t see how it’s a benefit.
Underlying market movement + markup is the way to go, most realistic & effective.