Latest update a massive positive



  • Staying away from the other negative thread which was obviously going to appear; the latest update is exactly what I wanted to hear.

    Confirms my confidence in the platform and if it means the gambler element decide to move on then so be it.

    I only see this place going one way and If they get FCA approval then big money is coming to play.



  • @Sav2000 as long as it stays tax free I’m all for it 👍🏻



  • @Gregolocky yeah we won't be taxed. They want to transition into a financial spread betting company.

    Spread betting companies are regulated by the FCA, and earnings are not taxed.



  • No mentions of NASDAQ but implications I guess in regards to the moving towards being recognised as a proper stock market.

    Good communication at least and look forward to seeing what happens with the trader panel. Please can we send Mr White and Dan The Man, they won't know what's hit em.



  • @Sav2000 what's fca mate?



  • @AndydfopT financial regulators mate makes more trading than gambling platform



  • Thanks, it was a nice positive comms from AC. I like the strongest financial position bit. Let's hope things go from here



  • @AndydfopT still got some of the user base to lose yet so not expecting rockets for a month or so but the future is bright that’s for sure



  • @howsthebacon said in Latest update a massive positive:

    No mentions of NASDAQ but implications I guess in regards to the moving towards being recognised as a proper stock market.

    Good communication at least and look forward to seeing what happens with the trader panel. Please can we send Mr White and Dan The Man, they won't know what's hit em.

    Yep. FCA would be a game changer. @MrWh1te would have to stop calling FI a ponzi scheme. There's no ponzi scheme that is regulated by the FCA!



  • Its another statement that really doesn't say much.
    Where is the update on market depth and improving the system (a third of the top 30 players currently have no sell price).
    Where is the media update which was supposed to be today?



  • All I can say is Wow.

    I always knew this platform was going to be huge, but with the potential of a new financial license, there is going to be huge money entering the platform

    There will be plenty of scope for long term investors as well as short term traders..

    Delighted I found this platform so early on..

    Get your portfolios ready boys and strap yourselves in for one hell of a ride



  • Where is this latet update? Can't see anything about it





  • @Lillychar1216 4e6f7b5e-1e87-47cf-afd3-c2220bc32421-image.png

    1b485264-a014-422e-9090-ebde290f6724-image.png

    All updates are either in the FI info feed above the FI News, or the Twitter feed below the Ticker.


  • Banned

    @Londoner What regulates the stock market?



  • Parts of that statement are disingenuous to say the least, but then you would never expect them to say otherwise, it would be suicide if they did.

    I like this bit though - 'What we can say is that we have now been operating for 5 years and we’ve never been in a stronger financial position than today.' Obviously taking away IS helped with that, but hopefully we'll see them wheel out tiered PB and then this bastard will fly.

    Also pleasing to see them talking more about yields, I think the penny dropped pretty hard that there needs to be a lot of user education.

    Overall it's positive, and I'll certainly be putting some thoughts in via the email address.



  • I definitely think there were mostly positives to take away. I would have liked to have seen a bit more humility though. Part of the rush to the bottom is the fact they introduced incomplete tech. Having listed to people like FIG, it seems fairly clear that visibility of market depth is absolutely crucial for the market to move forward. I think it is fine to introduce incomplete tech to the market provided it is essential and the comms are clear on when the crucial pieces are coming. This release still misses this and I don't think that is good enough.

    Essentially the y have put the blame of the market on traders, whilst both are as bad as each other. FI comms on how to use order books should have been better, and especially the comms on when we can expect the full tech. Knowing the date for Nasdaq tech to be integrated gives traders something to aim for. Traders on the other hand have created a relentless circle of panic. Some have been deliberately malicious, some have panicked due to lack of understanding, and some have refused to listen to explanations.

    Reading this comms, it seem to me to be a case of seatbelts on, hang tight for a couple more months, reinvest the high levels of dividends if you can land them, and once we are through this then there could be a sudden escalation of prices.



  • @Meridismo04 said in Latest update a massive positive:

    @Gregolocky yeah we won't be taxed. They want to transition into a financial spread betting company.

    Spread betting companies are regulated by the FCA, and earnings are not taxed.

    The Financial Conduct Authority has studied a sample of spread-betting customers and found that 82% lost money on products offered by the industry called contracts for difference (CFDs).

    Every customer is made aware of this when you start trading. The figure varies by a few points depending where you look but still very high.



  • @Me-Benidorm-lad FI isn’t becoming a spread betting company though they are just using that as an example of how they could get registered by the FCA.

    F.I. as a product is unique but they can only use those type of companies as a comparison of how a gambling platform can be regulated by someone other than the games king commission



  • Yeah of course they are in a stronger financial position than ever. Previously they held a liability for £100 Mil on their balance sheet as they had to show the liability for IS. They wiped that off with the change, making a £100 Mil in one swift stroke.


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