Marketspreads - Applied not heard anything

neris

Applied back in December to open a marketspreads account and sent over all the info they needed. Was told they were forwarding my docs onto their compliance department to be checked over and would be back in a few days with a/c details. I never heard anything back from them. Just wondering if this has happened to anyone else? I did tell them that I would only be putting €200 into the account initaly and was thinking this might have been their reason for not coming back thinking I was wasting their time with a small amount of cash

arrowloopboy

Probably the 200 euro,
Your better off spending it, as you'll loose it in a few days or a week anyway.
Demo trade till you know what your doing and can fund a proper acc.
Underfunding is one of the first things that will kill you in any form of trading.

Forgot to ask,what do you intend trading ?

neris

I was going to try put in €200 a month to build up cash with the account. Was going to start trading in small amounts like €1 per trade and trade stocks or commodities that have a decent bit of daily movement so the likes of google, microsoft, oil. I have a demo account and did €1 short on sugar which was up €1500 the other day but thats only a demo with massive movement that could easily wipe all real money in a few hours

arrowloopboy

The best traders i know of reccomend no more than 2% risk per position,with 200 euro thats 4 euro per position devided into your s/l ,i.e 20 point s/l = 20c per point,50 point s/l = 8c per point, and so on.
If thats what you intend doing,you will be fine,but it takes alot of discipline to stick to this sized position.
I wasn't been rough on you in my inital post,just trying to help.

Regards...

neris

i,ll stick to one or two small positions to get experince and hopfully a bit of cash to take slightly higher stakes as experience is gained. I know it will be hard to stick to a small position especially if things are going well but will give it a go. Going to go with cmc markets for an account instead as Ive applied and been on phone to them so just see how it goes for now

gb153

neris wrote: »

Applied back in December to open a marketspreads account and sent over all the info they needed. Was told they were forwarding my docs onto their compliance department to be checked over and would be back in a few days with a/c details. I never heard anything back from them. Just wondering if this has happened to anyone else? I did tell them that I would only be putting €200 into the account initaly and was thinking this might have been their reason for not coming back thinking I was wasting their time with a small amount of cash

Just get onto them again - either ring or use the online chat box. Same thing happened to me. They never sent me my login details so I had to remind them. I'm up and running with them now since last week.

neris

To be honest Id have no interest inmaking contact with them as I think what happened was bad customer service even if they did forget to send login details id worry about what they,ll forget in the future. Got set up on cmc markets for now so happy with them