CMC Adverts

Yes, rather optimistic advertising. To achieve balance maybe CMC's next advert should show David beating his monkey under his desk having just lost £10,000?
 
Interesting. The message seems to be :

Open an account with CMC!

You will become a sweaty twitching wreck!

You will be too scared to answer the phone in case it's a margin call!

You will lost interest in shagging your bird!

You will fail to show up for work!

You will be unable to sleep for days on end!

I quite admire their honesty.
 
I guess they are trying to say it is all exciting and fast lane stuff, but the guy is biting his bloody nails all the time.Hot chicks though. I like Clara a lot. :LOL:
Spam Man said:
Interesting. The message seems to be :

Open an account with CMC!

You will become a sweaty twitching wreck!

You will be too scared to answer the phone in case it's a margin call!

You will lost interest in shagging your bird!

You will fail to show up for work!

You will be unable to sleep for days on end!

I quite admire their honesty.
Click to expand...
 
Hot Chicks

FXSCALPER2 said:
I guess they are trying to say it is all exciting and fast lane stuff, but the guy is biting his bloody nails all the time.Hot chicks though. I like Clara a lot. :LOL:
Click to expand...
Did you know that the LSE CEO's name is Clara? Hot chick indeed! ;)
But I find the ad full of testosterone - the kind of ad which would attract those you like to shoot from the hip, ie., the most desirable customers they could wish for.
Yes, they do know how to target their customers, don't they? :devilish:
 
I used to do about 150 trades a day . CMC routed all my trdaes to senior dealers. Reason given to me was that I did too many trades. I was told to go else where but in so many words.

Heavytrading my A***
 
I found those to be pretty amusing too... although I trade with CMC myself, and no complaints either
 
AC007 said:
I used to do about 150 trades a day . CMC routed all my trdaes to senior dealers. Reason given to me was that I did too many trades. I was told to go else where but in so many words.

Heavytrading my A***
Click to expand...

150 trades a day! :eek:

Are you a mental or somethin'?
 
Hi,
I have been trading with CMC Markets for over 7 years and more than 20,000 trades.
I experienced frequent freezes on their software, nonetheless I continued trading.

Recently, I made enquiries about the market feed price because I did not agree that the market ever got to the number that they cut my position at.
The result was total ridicule. CMC told me they will close my positions in 10 days time because of my lack of trust towards them.

Can they actually do this to a client for 7 years? I will lose more money because I have to close account & reopen with another broker. CMC say it's within their rights to close my account because I complained to FSA.

Can they actually tamper with my current positions and close them whilst I have sufficient margin and just because I questioned their price feeds?
Sounds very wrong to me so I'd like to publish this story somewhere,
can you help direct me or give advice?

Thanks
Trevor
 
Setting stop/loss positions are notoriously dodgy. Its the same with price alerts.

I have 13 companies (bad luck huh) and I use to place price alerts on each one to warn me when they'd breached certain levels. First thing in a morning and last thing at night they'd sometimes fire off - due I expect to market spikes. I didn't lose any money of course - I just had to set them all up again.

I think maybe you have suffered in a same way - but you suffered a financial loss too. I don't think CMC deliberately tried to screw you, I just think you suffered from a sudden spike that fired your positions. I guess you writing to the FSA just annoyed CMC a bit and so they're closing your account - probably a revenge honour beating thing.
 
thanks in2uxs,
I know the market can spike, that's the risk we all take but closing my a/c after 7 yrs because I query them.His dealers are the worst I've ever dealth with. Anyhow, I doubt they can close my positions without my consent, that would be in effect theft & they have no rights to trade positions on my a/c unless my margin drops to zero. I'm gong to take an Attorney next week, see if I can sue them.
thanks
 
I complined to FSA regarding IG index . I was told by FSA they are powerless to anything.
FSA is for the big boys , By the big boys, Of the big boys.
Trevgk -Do not waste your time .
 
Hi,

I have had trouble with missed stops, accidental early closure of positions, failure to close positions, software issues etc etc over the years since the spread betting groups went online.

The point is that technology is always subject to failure and in opening an account and trading through the software you do so on an 'as is' basis (see any of their terms and conditions).

When you are dealing with 1000s of trading customers and your clerks cost you a lot of money it is far cheaper to close a client's account than it is to argue with them for any period of time. Knowing this I find it is easier to accept a bit of broker error slippage as a cost of being in the business. Spread over 1000s of trades it should result in a net cost of a fraction of a point per transaction.

There is no doubt that they are perfectly entitled to close positions for any reason at any time and to terminate accounts at their discretion without giving a reason. They are an over the counter provider, not a broker on an organised exchange. This is an important difference.

It is a pain when a trade goes against you but I think you will only incur greater anguish and financial loss by attempting to pursue a claim. CMC run a company with an estimated market value of close to a billion pounds - I suspect that they have their legal position well covered at all times. Read their Terms and Conditions of business.

Just my 2 cents.

NQR
 
Thanks for your input AC007 & NQR,
both points taken, especially as it would be a waste of time. I didn't realise they were an over the counter provider, not a broker on an organised exchange. As you mentioned, this is an important difference.

Nonetheless, it would good to have a broker review section to warn others of the tactics these unscrupulous lot use.
Thanks again
Trevgk
 
Not so successful (80%) traders are ok with cmc. Those traders(20%) who make $1000 or so a day know the true colour of cmc.
 
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