Time to close the spread FI

  • Until the spread is closed FI can not be trusted. The overall market has grown yet FI have not closed the spread? Well why would they, people are still buying even though they are losing 30/40% of their money instantly. This is telling FI that people are not worried that the market is being artificially controlled. Adam Cole ( the CEO of FI if you didn't know) goes on about how healthy the index is and the vast reserves of cash that he guarantees underpins the index, but the fact is you can't get your money out without taking an unacceptable loss because of the spread, and that is the only reason the FOOTIE continues to grow. The market is fixed now, more importantly this shows that going forward FI have cart blanche to fix and controll the market as they see fit.

  • @NewUser311263 you sound like a man that wants lower spreads and IS back so you can sell up.

    I’m happy for them to remain until football is back, FI are being sensible and protecting my “gambled” money.

  • Banned

    No way can they lower spreads now, that would be disaster for everyone

  • IS will return to what it was before the pandemic but I feel this will be done gradually and in line with the return of football. And rightfully so I may add.

    It’s been done to protect the platform and everyone’s money; including yours.

    If they simply switched IS back to where it was the platform would take a serious and potentially fatal blow and after all of that you’d still be selling at a loss on your initial investment.

    You have to ask yourself why you want to IS. If it’s because you’ve put money in that you couldn’t afford and now want back; then I would suggest you shouldn’t have put that money into a long term investment in the first place. However, if your reason was to invest and use your knowledge to make profit, then nothing has changed and in fact it’s a perfect time to invest with prices lower across the board than pre-pandemic.

  • With the spreads the way they are is the reason your port is not worth 30 to 40 pecent less than what is actually is right now. You can still market sell a fair share of players like I have recently just may take a bit longer. You my friend need to have a day off. Yes they have money but they can't afford 20 to 30 percent of people instant selling with low spreads, no business could right now. You may need the money thats what I sense.

  • @NewUser311263 Why on earth would you want spreads to return to normal when there is no football on, and we don't have any idea when the premier league will return? If FI were to put spreads back to normal, 100% guarantee you player prices would be dropping non-stop and would show little signs of increase until football comes back. Reducing spreads is probably the worst thing FI can do right now

    Sounds to me like you're just desperate to get money out of the platform cause you put too much in here

  • @MrWh1te
    Hi buddy, thanks for the reply. That is my point, the market is artificial at the moment. Only when the spreads are closed will we see a true picture. The outcome will be the same weather the spreads are closed now or 6 month's time or whenever.

  • As frustrating as it is having my £8k tied up in unsellable players FI cannot be praised enough for the way they have protected our money. It would be a blood bath if the spreads were relaxed with a race to get your money out unless you have massive cahonies and hold tight. Those who got out early would then mop up buying back in to make decent profits. That is if the platform survived. No leave spreads as they are until football returns.
    If you want to carrying on playing put more money in. If not delete your app and forget about it until this all blows over.

  • out of the 30 players in my port I could probably market sell 20 in 2 weeks, I wouldn't say thats too bad considering i paid a lot less than what i sold them for. U see what happened to Debenhams this week, Debenhams is a lot more established company than fi, so have a little bit of perspective mate

  • A - Instant sell has been suspended for a few weeks so reducing the spreads makes no difference. You still can’t exercise that option.

    B - Just market sell your players. Judging by your user number and that you started 12 months ago you must know that is an option. It may take a few weeks but the option is there.

    I’m currently buying. Am I losing 30/40%? No. Because I can either market sell or hold for 4-6 months and make a substantial amount of money!

  • Banned

    It won't be because when they close them later, football will be played so their wont be a mass sell-off of PB players, which is what would happen if now.

    You still have market sell if you wanna sell.

  • @NewUser311263 it isn't artificial people are just buying different players. It would take you a while to sell pb players in the summer, just like it is with some now. As fi have removed the instant sell function it isn't an artificial market is just what other users want to buy your player. If you buy players thaqt aren't particularly liquid when football isn't on then unfortunatel you will jhust have to wait until its back on mate

  • @NewUser311263 rest assured 👍

    Football index will have something in the pipeline regarding the spreads, which should allow people to trade more freely.

  • @Ericali
    Order books by any chance?
    Supposedly coming at some stage. Would take the spread issue out of FI hands.
    IS and take a big hit or find a price where your player will sell to other traders!

  • @Ericali
    Thanks to everyone for their replies. They are very interesting. I'm feeling everyone's frustration in their replies, and a little bit of distain coming my way. I didn't intend to ruffle any feathers :,) The fact that the majority of you all feel that it would be a disaster if spreads were closed shows that you all are concerned, and rightly so.

  • Don’t know if you tried, but MS is working perfectly. I am not losing any 30-40%, I’ve been able to market sell majority of my players (when needed) over last few weeks, included players like Pogba with a long sell queue.

    IS will come back with games, they make so much money from it but cannot put it back now otherwise the market will go yo-yo style and this is bad to attract money

  • @Jdog
    Hi mate, thanks for the reply. As a matter of interest, when you market sell your players, what sort spread are you finding % wise in comparison to buy price?

  • @NewUser311263
    There is no spread when you sell to market. You get the buy price minus 2% commission to FI

  • @NewUser311263 if these spreads existed in normal circumstances I would agree it would be a time to worry but we currently live in a world where there is huge confusion and uncertainty. Changing the spreads now would be suicide for a market that relies on football, be thankful they put in place the spreads. Tbf the market is thriving and it’s not artificial in my eyes, people are putting in their hard earned money in a time when we only have media payouts and a 8.25% bonus. I personally thought once the spreads were put in place and all this lockdown started we would have to sit on our players and money however a lot of players have still risen. Once footie is back people might take some profits but players are increasing to an all time high, imagine where they could go when football is back on.
    P.s. I’ve had no issues selling a few of my players to the market

  • @NewUser311263 as you say people are buying though so why are you talking about instant sell as if its the only option. If people are buying then market sell should be your go to method of selling, IS should only be used when there is no other alternative when you need to move or withdraw money

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