Order book/no instant sell

  • Still very new to the index and have heard about these order books coming in.
    And to be honest A little worried. Although not 100% what they would be like. If I took a punt on a player who I thought would b good for say £1 and bought 500 futures. Then realised I’d made a mistake and wanted to sell how would I do this if I couldn’t instant sell and no one was willing to buy? Hope this makes sense

  • You would keep dropping the price until a buyer thought it value to buy

  • Concerned too. Platform would become far riskier IMO. If player agrees transfer to China or US, or incurs long-term career threatening injury, no one is goung to buy. Effectively we lose the escape clause and protection offered by IS.

  • @NewUser162554 that’s what I have been concerned about. surely instant sell option has to stay. One of the reasons this platform is growing is how confident traders are in it. If your guaranteed exit is removed and players suffers an injury like Ryan Masson for Eg and has to retire. No one will buy and you will be left with money stuck in the player. At least IS will give you some returns on your investment, even if it is at a loss.
    I’d prefer it’s stays as it is, seems to be working fine at the moment.

  • I have to agree with this.
    I'm new to FI and very tentative to say the least. It's so addictive and loving it to be fair, however, if IS disappears then I'll be leaving the platform. I need the confidence of knowing I can get my money out when I need it, even at a loss.
    Those in charge - keep Instant Sell please

  • Keep instant sell !!!!!!

  • The reserve price selling doesn't appear to work so what's to say that the Order book will?

  • We all need to remember this is gambling - You cannot expect to make the returns we are all making without risk!

    Currently there will be hardly anybody who has been on the platform for more than 4 months who has not made significant profits.

    You cannot expect that if a player gets a career ending injury that FI will say : Do not worry we will underwrite your loss! It sounds very much like a lot of people would like there cake and eat it!

  • Keep instant sell...!!

  • @Fletch as I said seems to be working fine at the moment, they phrase if it ain’t broke don’t fix it springs to mind.
    All I can think is FI aren’t sustaining the current dividends payouts so need to change before platform goes under but I for one will be less confident putting more funds in until I grow more confidence in the new order book system. If there are many who think like me then sure growth will plateau.
    I’m open to someone talking me round to the positives of this change rather than saying it’s gambling and that’s just how it is. Quite enjoying eating my cake right now thanks😉

  • @Dulix

    It is not sustainable for FI to keep buying back our shares as players become unwanted, it can only be done in the initial stages to create liquidity for its long term sustainability it has to end.

    For example:

    If Pogba suffered a career ending injury tomorrow everybody will have purchased there futures at lower prices and generally all futures bought from inception to say 3 months ago would have been between 25p and £6 so how can FI buy them back from us at any price even near to his current price without suffering huge losses.

    Hence once the platform reaches a certain level it will require the futures in each player to trade at prices both the buyer and seller are happy with.

    This is a very simple example and there will be far more to it than this but I would imagine they will need order books in place before Ronaldo ever announces his retirement, move to USA/China or gets a major injury as FI will have literally 1000's of futures in play on him all purchased at a significantly lower amount.

    The sustainability and success of FI should be all our priorities and as well as understanding how it currently works you need to look at how it can progress from a loss making start up to a long term profitable company.

  • @Fletch well if this is the case then I’ll be happy to go along with it but if there making that much of a loss why are they giving away 10% deposit bonuses with no play through requirements and spending millions on sky adverts? I’d just assumed they were doing pretty well based on that recent marketing activity

  • 2% commission on every sell as well as the spread.... They're doing pretty well I'd say..!!

  • I think you underestimate the costs involved in both setting up something of this size, the costs involved in taking something like this into profit are massive.

    However even when instant sell goes they will still provide capital to ensure there is a market for all players. However as the platform moves forward you will definitely have to manage ageing players well as eventually they will lose all value. It is why I am careful to hold very few players 30+

  • Underestimate..? Not at all.... They will be making a fortune.. Just wish I thought of it 😝

  • Understand the concerns and I'd also say to keep the instant sell option. The platform should stay mostly as it is with improvements and grow to a much larger scale, but we are all here because for the most part, we love the existing model. I guess nobody here knows about the profit/ losses FI are making but they must be doing well with all of the plans they have and expenditure. No reason why instant sell should affect future security of the platform. For example, many instant sells take place below the original price (panic selling due to injury or transfer) so FI profit from the loss made by the trader, the spread and their commission. Not all users are lucky to be able to buy players at a low price. Look at the top players now for instance.

    Worth mentioning the benefits of order books and the gains to be made also. Assuming Order books will allow us to buy at a specified price as well as sell? What are the other advantages?

  • Adam cole has stated there’d be some sort of liquidity provider once the order books come in. It may no longer be called ‘instant sell’ and who knows what the spreads will be like, but yes, there will be some way of selling immediately in some format

  • This cannot work it's impossible everyone saying they want to sell at a price but can't instant sell... sounds like the beginning of the end of FI to me.... has it is FI works well nothing needs changing

    anyone got a date this is coming in?

  • @Chicken-Badge Please read the comment directly above yours from @FranklynMary - this topic came up on the FIG podcast with Adam Cole and Mike B: there will be "liquidity providers / market makers" who will allow traders to sell futures at a lower price than the current going rate if they choose to. In other words exactly the same idea as the current instant sell option, just provided by a third party so Football Index doesn't have all the financial burden. As FM says, we don't know how the spread will compare to the current system, but it's most definitely not "the beginning of the end of FI". These guys are not dumb at all and won't put the whole business they've built up over 3 years at risk by removing essential functions.

  • @BL__FI

    Ok thank you. I remember the fuss at xmas over the higher spreads..., I believe FI ain't broke so don't need to be fixed if they worry about being a broker for traders why change the market from 200 to 2500 tradable players... it's not my business model I'm just a client so thanks for your reply but like many traders we do this for fun not that we want to come here to "split the atom" or become Gordon Geko or whatever he was called.... thanks for your answer just a little worried has I like FI has it is!

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