2% commission on bids ... am I missing something ?

  • This comes into play as of Thursday 19th and though I don’t fully understand the mechanics ... I’m assuming this is to encourage instant buying right ?

    Problem is still the same as the last rebate offer .... spreads are so wide in so many players that we just continue to bid as the savings outweighs the commission...... am I missing something or have they got a magic wand that changes this over the next 6 days ?

  • Yes seems ridiculous they have kept this considering the state of the market at the moment.

    Have to admit that i don't understand the bit about waiving the 2% if the bid instantly matches. Can anyone enlighten me?

  • @Three-lions

    A buyer's tax is a terrible idea, just that simple, FI have tried to create a by pass, if you instant match an existing sell offer (now available across the allowable price spectrum with the removal of 1p limit) your 2% will be refunded but still an atrociously bad idea that has been introduced at the worst possible time in terms of market sentiment. There's just not a single positive thing to say about it or the clowns who thought it would be a good idea to introduce it now.

  • Glad the 2% is kicking in next week, this is one of the reasons why the market has flopped

  • The 1p handbrake comes off Sell Offers, so spreads won't be anywhere close to as wide after next Thursday

  • @B-EVO without getting over technical ... can you explain that in layman’s terms please .... are you saying that the removal of the 1p will tighten the spreads ?

  • @Three-lions for this example, buy price is 1.00, is is .80 and bid floor is .70

    It effectively means that a holder can now offer his shares as low as .81, reducing the spread to 1p whereas currently we can only offer at .99

    However if sufficient shares get listed to bring the buy now price down then that will also drop the bid floor, meaning we can bid even less, without liquidity this will probably lead to a rapid crash to

  • @Dav the market has flopped because it was free to buy players?? Care to explain your thinking behind that

  • @Ddr

    And if for example someone wanted to meet in the middle say I am happy to sell player x at 90p is that possible to list at that price or is it only 1p above the IS price?

  • @Hammer83

    Yes but seller needs to move first by posting a sell offer & then a buyer can accept & the buyer then gets the 2% buyers tax refunded, if the buyer were to move first (still offering 90p) & the seller accepted, the buyer would pay an extra 2% for the privilege - F***G mental idea, whoever suggested it at FI ought to be sacked.

  • @Geronimo159387

    Cheers mate

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