Delta Index

drdre

Has anyone dealt with this company.Whats your experience,are they genuine and has anyone made money from them.Im thinking of going to one fo their talks in four seasons to see what they are on about.

Im only learning so would like to find out what your experience is and if theres any better way to find more info on spread betting and shares.

thanks in advance

PDelux

if theres any better way to find more info on spread betting and shares.

Here is a link for you:
http://www.financial-spread-betting.com/

I have no connection with this website but I cannot emphasise enough how much excellent information is on this site for every trader/investor even if you're not into spread betting. For example the 'Trading course' section.
As far as I remember they also have an interview with someone from Deltaindex on the website.

drdre

PDelux wrote:

Here is a link for you:
http://www.financial-spread-betting.com/

I have no connection with this website but I cannot emphasise enough how much excellent information is on this site for every trader/investor even if you're not into spread betting. For example the 'Trading course' section.
As far as I remember they also have an interview with someone from Deltaindex on the website.

Thanks i will look into it.

Beta2

Avoid DeltaIndex like the plague, they are really horrible people to deal with.

I had to threaten legal action to get the money in my account returned to me.

There are more mature and safer companies based in the UK, Id go with them instead.

drdre

Beta2 wrote:

Avoid DeltaIndex like the plague, they are really horrible people to deal with.

I had to threaten legal action to get the money in my account returned to me.

There are more mature and safer companies based in the UK, Id go with them instead.

Thanks

Bluehair

Beta2 wrote:

I had to threaten legal action to get the money in my account returned to me.

Thats a fairly serious allegation, can you elaborate? What was the problem with returning your money?

For the sake of balance i've been using Delta Index for some time now and found them to be courteous at all times. I did send an email complaint about a month ago regarding some frustrating problems with their switchover to new servers and got a prompt call back (which wasn't asked for) to explain what was happening and how they were fixing it.

I'll second the info on the link PDelux provided as being well worth exploring as spread betting is not something one should undertake without some decent groundwork done.

Overall i've found Delta to be reasonably good though i would like a broader range of markets/shares to bet on. The spreads are a bit wider than some so take that into consideration when comparing around. I'm exploring Worldspreads now too but it's too early to make much of a comparison.

I do like the simplicity of setting up orders on Delta though, you can process a buy/sell with limit and stop in one go.

silverharp

keep in mind though this is more akin to gambling than investing, small turns in the market can wipe out your position before you are proved right. I have bought commodities and shares unmargined to see them drop 10% before turning around. As a longer term investor I was unconcerned about this however if they had been bought on margin I could easily have been bounced out of my positions.

PDelux

Both Deltaindex and Worldspreads have ads in the business section of the main Irish newspapers. It seems they are really stepping up their efforts to attract new clients. I think there'll be alot more people enquiring about it on this board and others.

soma

Unless I'm going blind.. Delta Index don't appear to allow you to buy/sell the ISEQ index? Disappointing.. anyone know of a FSB site that tracks the ISEQ index?

hotchipfan

They used to quote it. No one else quotes this either. I did ring them up to ask about it and they will be quoting a similar (proxy) index to the ISEQ soon

SGKM

I went to one of their workshops about a year ago and found them to be quite impressive for what they do. But I never opened an account as I just think that its too risky. Their products are leveraged and as far as I can remember they have margin calls just like CFDs. At least with a CFD you have an underlying derivative with Delta Index its just a bet on a market movement. Professional traders have all sorts of quantitative research methods to make their trades, so I'd only open an account with them if I knew exactly what I was doing.

drdre

SGKM wrote:

I went to one of their workshops about a year ago and found them to be quite impressive for what they do. But I never opened an account as I just think that its too risky. Their products are leveraged and as far as I can remember they have margin calls just like CFDs. At least with a CFD you have an underlying derivative with Delta Index its just a bet on a market movement. Professional traders have all sorts of quantitative research methods to make their trades, so I'd only open an account with them if I knew exactly what I was doing.

How do you know what exactly yo do. Does anyone know any any site to where i can learn more about shares but in plain english not gobildy go.

SGKM

drdre wrote:

How do you know what exactly yo do. Does anyone know any any site to where i can learn more about shares but in plain english not gobildy go.

Interesting question, I guess that I mean I wouldn't go along to delta index with absolutely no market or trading experience and start trading leveraged products, you're almost sure to loose your shirt! If you are just starting out, I wouldn't go straight into spread betting, I'd probably open an account with a broker first to understand how things work with far less risk.

Investodepia would be a good start for the gobildy go terms. Reading up on different companies, market trends, stock price trends to get a feel for what is going on.

Beta2

Bluehair wrote:

Thats a fairly serious allegation, can you elaborate? What was the problem with returning your money?

Sorry about taking so long to get back to you, just saw your reply today.

It was a good few years ago and Delta Index were new on the scene, I'll accept that they may well have improved their systems since then, In fact I hope they have!

Basically we had a falling out over what they termed a 'blip'. Here's a rough outline of what happened, one day I went long on a commodity, it was steadily increasing in price then it took a massive jump, I moved quickly to lock in my profit and banked a nice 350 euro profit, I then watched as the price fell back down to its previous level. I was patting myself on the back thinking what a great time to sell, I have made 350 profit in about 15 mins.

Later that evening I got a call informing me that there was a 'blip' with my trading earlier, they said that it was impossible for the commodity to jump so high and return to a normal level within a 15 minute window. and that they had taken back my 350 profit.

I was fairly pissed with this but accepted it.

The next day I was trading with the exact same comodity, this time it nose dived activating my stop loss, then returned to its previous level all within 5 mins! I rang them to say that there must have been another 'blip' as they had said yesterday that it was impossible for that commodity to move up and down so quickly, and today it had a more steep spike in a shorter time!

They then informed that it quite normal for commodities to take such a swing! totally contradicting what they had said yesterday.

I asked them how they expected me to trust them, when I bank a 350 euro profit in a steep swing, they cancel it and call it a blip, but when I make that kind of loss in a steeper swing they accept it !!

So I closed the account and withdrew my remaining balance, they said no problem, but when I checked my bank account I was over 100 euro short! I rang them and they said because I had the account less than a year the were charging a service fee !! I said where is this in the T&C i signed, they couldn't show it to me because it wasn't there, they provided some marketing literature with it in it, but this wasn't the agreement I had signed.

Delta Index are a registered bookmaker, so I threatened the appropiate legal channels, then they coughed up the rest of my money!


Thats why I'd recommend a more mature international / bigger company, that don't have these 'blips'.

I'm thinking of opening a world spreads account myself. Spread betting is a risky business, I wouldn't consider it an investment, I only put money into it that I can afford to loose, sometimes you can make a killing sometimes you are killed, its not for the faint hearted!

Colonel Sanders

I have never used spread betting companies but I have noticed that Delta's spreads are wider than other complanies such as IG and cantor. No idea if all companies trade the same markets but if they do its something to bear in mind.

PDelux

Did you see DeltaIndex now has the FTSE/Xinhua China 25 ETF?
Up over 270 points today!