CMC markets -legal action

[Hoggums]

Here we go again - every month we have some numpty who threatens legal action because they made a bit of money taking advantage of pricing delays from an SB, think they are onto a winner so leverage up to ridiculous levels. This attracts the attention of the SB who then realise what the trader is up to, so limit their account because they can't hedge his activities. The numpty loses a load of money because they are highly over leveraged and consequently threatens legal action because although it's alright for them to take advantage of the SB it's totally unacceptable for the SB to stop them doing this.

The problem here is that you were OVER LEVERAGED, a delay of a few seconds should not turn a profit into a loss unless you are trying to scalp a few pips. And if you'd have done your research before (like all good traders should) then you'd have realised that scalping and SBs are not a sustainable trading plan.

Good luck with your court case.

 

[onemillion]

Well I have been trading FX for 14 years now, and have worked as, amongst other things, a spot fx market maker (for a medium sized investment bank), a futures trader (pit based), a senior FX trader for a tier one money manager, a broker, worked on the options trading desk of a large bank. Plus various other bits and pieces of work on algorithmic trading, trading software development etc.

So I think I would stack up ok in court as a witness.

And as for how many times I have 'lost' - all I can say is, lost at what exactly? I wasn't aware I was even claiming to be either a winner or a loser. But in an industry shrinking year by year as a result of bank mergers, technology advances, and simply less currencies to trade (as a result of the Euro), I guess I must be doing something right

And I still think the point I made was a vaild one - you don't appear to be after a level playing field, and I think you'll get shown up in court.

GJ

well impressed. I have also lectured so many experts about real market behind the curtains. Most of those big co's are in financial trouble becouse they have employed so many so called experts dont even hava an idea how market works. i have one friend who is on 200k salary, he admits openly, he has no idea at all about the martet. If this co did let me trade properly without creating intentional problems, i would have had my target. More importantly, when i asked them the reason, they were lying most of the time. It is a principle, i dont like people stealing from me and can you blame me for that. they are stealing from hundreds of people if not thousands.

 

[JTrader]

does onyone trade with CMC markets (cowboys). I have finanly decided to take legal action against them for market manipulation, trading against client and misleading information. I like to hear from people had problems with them. [email protected]

Hope u have deep pockets, or R U claiming legal aid?

I don't fancy you're chances of winning, regardless of how strong your case is, based on how the world/law works generally.

But good luck, as CMC are a set of b****rds!

 

[gooseman]

If this co did let me trade properly without creating intentional problems, i would have had my target.

your target at their expense! are you for real? now you mention it, I might set up a stall on Bishopsgate and give away free money....sounds like a great plan.

 

[jerry828]

"i have one friend who is on 200k salary, he admits openly, he has no idea at all about the martet."

So why don't you take his job and make up for your losses in 6 months or so?
Oh btw, one of my very best friends claims incompentency too, makes 400k and keeps his job year after year without being asked any questions, I guess the owners aren't on to him yet...

 

[onemillion]

If this co did let me trade properly without creating intentional problems, i would have had my target.

your target at their expense! are you for real? now you mention it, I might set up a stall on Bishopsgate and give away free money....sounds like a great plan.

That was the real reason. They have done everthing to stop me and they did for time being. If you lose money, their system will work fine. But if you start taking decent money from them, they start to make it as dificult as possiable. I would not recomend my trading style and What i have tried to anyone. Bcos it is almost imposiable, but not imposiable.

 

[JTrader]

That was the real reason. They have done everthing to stop me and they did for time being. If you lose money, their system will work fine. But if you start taking decent money from them, they start to make it as dificult as possiable. I would not recomend my trading style and What i have tried to anyone. Bcos it is almost imposiable, but not imposiable.

its a familiar tale with SB & CMC & Fins inparticular.

 

[gooseman]

That was the real reason. They have done everthing to stop me and they did for time being. If you lose money, their system will work fine. But if you start taking decent money from them, they start to make it as dificult as possiable. I would not recomend my trading style and What i have tried to anyone. Bcos it is almost imposiable, but not imposiable.

so you acknowledge the risks, persist and moan when you get turned over. of course the SB is not going to let you make money off them hand over fist. that's just logic. if they can't get the hedge away they're certainly not going to start filling you on large clips! again, have a lok at the exchange traded markets (specifically market makers)

I think you might be on to a loser here....

 

[onemillion]

so you acknowledge the risks, persist and moan when you get turned over. of course the SB is not going to let you make money off them hand over fist. that's just logic. if they can't get the hedge away they're certainly not going to start filling you on large clips! again, have a lok at the exchange traded markets (specifically market makers)

I think you might be on to a loser here....

Anyway this is my first day here and i already had enough of comedians in here. i would have had better luck finding real replies if i went to a dating site.

But sorry guys, if you are all winners, as it seems like. Who's money i have been taking?

Please go and bother someoneelse, markets are open, do some trades.

If you do have similiar problems let me know. all i wanted to get enough info to show that this is a widespread problem not just me.And i am getting few good response. Thanks for replies.

 

[the blades]

Who's money i have been taking?.

i think I might have taken the £100K you've lost in the last few weeks. Perhaps that's why my web platform has started to freeze.

Thanks very much, the beer's on you.

UTB

 

[gooseman]

But sorry guys, if you are all winners, as it seems like. Who's money i have been taking?

the spread betting company's.....good answer tho.

that's my lot for you. Oh, and good luck-i think you'll need it.

 

[onemillion]

one last word to all those big winners. How many of you will put your money where your mouht is.

Lets have a challange then, 10k 4 weeks trading, (same system, any markets) who ever makes most takes all the money.

Ok?

Either put up or shut up.

 

[the blades]

one last word to all those big winners. How many of you will put your money where your mouht is.

Lets have a challange then, 10k 4 weeks trading, (same system, any markets) who ever makes most takes all the money.

Ok?

Either put up or shut up.

****snigger""""

Let's take it up a notch. I bet my dad can fight yours.

UTB

 

[onemillion]

****snigger""""

Let's take it up a notch. I bet my dad can fight yours.

UTB

thakns god, this certainly shut you up a bit.

 

[jerry828]

one last word to all those big winners. How many of you will put your money where your mouht is.

Lets have a challange then, 10k 4 weeks trading, (same system, any markets) who ever makes most takes all the money.

Ok?

Either put up or shut up.

So this is turning into a challenge now? How refreshing.
Haven't seen that many people claiming to be "big winners" here (apart from yourself that is).
"Same system", does it mean we have to use your system and an SB account? If that's the case I guess I would rather shut up.

 

[onemillion]

So this is turning into a challenge now? How refreshing.
Haven't seen that many people claiming to be "big winners" here (apart from yourself that is).
"Same system", does it mean we have to use your system and an SB account? If that's the case I guess I would rather shut up.

good

 

[gamma]

Ah! love this thread almost as amusing as our good friend Spanish.
Keep up the good work onemillion!

 

[Trader333]

sorry mate i dont give trading advice. in short anything moves

How can saying which instrument you trade is in any way giving advice ? That was not the reason I asked anyway it was to do with others who have found discrepancies in their accounts on certain instruments but I am out of this thread now.


Paul

 

[A Dashing Blade]

. . . I had similiar replies back in 2001 (i think) when i said to shareholders and FSA that one time ftse100 company is publishing misleading information and directors were lying about the financial soudness of the co. they all attacked me and telling me i have secret agenda. That realy annoyed me and i have managed to get over 15% shareholders support in few months to prove them that directors were lying. Four days after i send a fax to co to call for AGM asap. They declared insolvent. If they didnt, there was a good chance, they could have end up in a city cell. . . .

No danger of naming the FTSE100 company that you caused to declare insolvent I suppose? :innocent:

 

[onemillion]

How can saying which instrument you trade is in any way giving advice ? That was not the reason I asked anyway it was to do with others who have found discrepancies in their accounts on certain instruments but I am out of this thread now.


Paul

Do you trade with CMC?