CMC commission minimum reintroduction

I used to trade with cmc in the UK, and now am trading with cmc in singapore.

CMC is reintroducing the minimum commission charge worldwide, see link below.

Commissions Update | CMC Markets

As many has mentioned above this is unfair to us as small time retail investors. I will be moving my account elsewhere I guess.

It's a pity as I think CMC as a very good platform which has so many potential.
 
I have a CFD account with CMC Markets and use their Marketmaker platform. Recently I had an email from CMC markets about changes to CFD account commission charges effective from November 26th 2012. The charges are spelt out here:

Low CFD Share trading commissions :cry:


Up until now there hasn't been a minimum commission charge for trading US equities but from 26th November the minimum charge will be $10, presumably each for buying and selling. As I trade a small account the minimum commission charges will skew the risk reward sufficiently to make trading unworthwhile. In fact with the Marketmaker platform dealing in some US equities requires multiple trades to build up or close out a position. CLF is an example where an attempt to sell 400 shares would most likely stall with the order ticket displaying 'pending'. In that situation I would cancel the order and split it into two separate trades of 200 shares. That would now require multiple commission charges in order to open or close out such a position, whereas under the current charges of 4c per share round trip it makes no difference how many trades are made to setup a particular position size.

The effect of the new minimum commission charge is to make daytrading with CMC Markets no longer credible. Has anyone experience of other UK CFD brokers that don't have minumum commissions for US equities?
 
not sure

but i dont think capital cfds does... i dont trade cfds but they seem to have the comms in the spread.

i think for small trades (100 shares for instance) this would work out at a few dollars on the low priced stocks. but the high priced ones (apple) look uncompetitive

instant
 
not sure

but i dont think capital cfds does... i dont trade cfds but they seem to have the comms in the spread.

i think for small trades (100 shares for instance) this would work out at a few dollars on the low priced stocks. but the high priced ones (apple) look uncompetitive

instant

Thanks, I'll check out Capital CFDs and probably open a demo account to get familiar with their platform first. (y)
 
I thought MarketMaker was no longer available, in favour of their "next generation" platform?

I 've been using Marketmaker for 2 & 1/2 years up until now. I haven't been asked to switch to the "next gen" platform which I don't like having tried their demo and I don't know if Marketmaker is available for new accounts.
 
I received this today from CMC:

"Marketmaker is closing

We are writing to notify you that your marketmaker CFD account will be closed on
05th December 2012. This decision has been made in order to allow CMC Markets to concentrate on our Next Generation trading platform.

To see the latest upgrades to the Next Generation trading platform, please click here."
 
I received this today from CMC:

"Marketmaker is closing

We are writing to notify you that your marketmaker CFD account will be closed on
05th December 2012. This decision has been made in order to allow CMC Markets to concentrate on our Next Generation trading platform.

To see the latest upgrades to the Next Generation trading platform, please click here."

I've not received any similar notice. I still use the MarketMaker platform but will close my account when the minimum commssions are charged.

Seems that CMC Markets are introducing further charges on their next gen platform which I don't use: (n)

From the 1st of December 2012, if you want to trade in a company CFD or view the Price data for that company CFD, you will need to complete a Price data subscription.

There will be a monthly fee for the Price data subscription and the monthly fee will differ, depending on which country and/or countries your company CFDs relate to.

The monthly fee or fees (as applicable) will be debited from your Account on the first day of each calendar month (or on the day of your Price data subscription, should you subscribe part way through a calendar month) and will continue to be debited from your Account until such time as you unsubscribe for the Price data via the ‘Data Feeds’ tab within the ‘Preferences’ section of the Next Generation trading Platform. Please note that, in addition to the Price data fee or fees (as applicable), local taxes and duties may also be charged. The Price data fees will be converted into your Account Currency at the prevailing CMC Currency Conversion Rate before being debited from your Account.

It is your responsibility to ensure that you have sufficient Cash in your Account to pay any Price data fee or fees (as applicable) in full.

Please also note that the Price data fee for the full calendar month will be charged, irrespective of whether you activate or deactivate the Price data subscription part way through the calendar month.

Please note that this will not affect FX, Indices, Commodity or Treasury CFDs
.
 
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