Yes, why not just flash up a new T&C box to click? CMC seem determined to lose half their clients.
Another question: if the old platform is phased out, what happens to the Level 2 part of MM investor Edition?
Yes, why not just flash up a new T&C box to click? CMC seem determined to lose half their clients.
Another question: if the old platform is phased out, what happens to the Level 2 part of MM investor Edition?
Hi Guys
I would very much like to be able to migrate all Marketmaker accounts straight across to next gen but it is the fact we now have new terms of business for the new platform. There have been a few clients who really love the old Marketmaker platform, who are not keen to make the switch to next gen, but believe me this system is vast improvement, especially in the backend, the trade execution and pricing is far superior. You just have to give it a chance, even using a demo to check it out in more detail.
I understand peoples scepticisms, you've heard it all before, we will let the platform do the talking and continue to listen to your feedback. We would never expect to convince clients right away that things really are different, it will take time.We are really expecting to change the market with this system, I hope you guys will come back and take another look soon.
Hope the trading is going well
Regards
Craig
I would very much like to be able to migrate all Marketmaker accounts straight across to next gen but it is the fact we now have new terms of business for the new platform. There have been a few clients who really love the old Marketmaker platform, who are not keen to make the switch to next gen, but believe me this system is vast improvement, especially in the backend, the trade execution and pricing is far superior. You just have to give it a chance, even using a demo to check it out in more detail.
I understand peoples scepticisms, you've heard it all before, we will let the platform do the talking and continue to listen to your feedback. We would never expect to convince clients right away that things really are different, it will take time.We are really expecting to change the market with this system, I hope you guys will come back and take another look soon.
Hope the trading is going well
Regards
Craig
Tired_Of_Conmen
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Long story short - in the past CMC have conned me. But I am willing to give people the benefit of doubt. Your new offering SOUNDS good.
Can you, honestly, promise us all that we will NEVER EVER suffer a requote/price freeze or any such thing when entering a trade OR exiting one with your new platform?
Will we be able to literally have the price we see each and every time?
If so, if we honestly can, then yes perhaps your new offering can set the standard of SB companies.
Can you promise this? Or is there smallprint??
TOC
Hi Craig
Firstly thankyou for comming on here to answer some of our questions.
I fully understand that from a company point of view you of course have to believe in your product however I have always thought that cmc was aimed more at people who trade for the longer term rather than those that come lose their money and never come back?
If you are looking to keep/attract more serious traders then I would ask you this:
Why are you 4 times as expensive as city index ( and twice as expensive as ig)on the daily dow?
I trade with cityindex and have only had one occasion when the price on screen was not the price I got when I traded.
Why have you introduced a software package which is no where near as good as the current marketmaker?
I mean it does not even have basic things like multi chart ability and pop outs this was basic stuff that marketmaker had years ago!I can't even see basic indicators like pivots unless I am missing something.
Are you really saying that the new charting software will shortly be better than marketmaker because if thats not the case you are expecting us to use a platform which is inferior to what we have now is that progress?
I think what you are doing is playing into the hands of other sb's particularly IG who you must admit now have a far far better charting package.
Once again thanks for taking time to answer the questions and I agree that you are very good at trading during volatile markets but I have had an account with you for many years and just can not believe you expect serious traders to use that chart software I suspect someone upstairs has made a big mistake unless like I say you are just looking for the non serious spread betting punters.
Regards
Tim
Its a shame really because it now means that in terms of serious chart packages there is now really only ig out there (of the ones I have seen) and I suspect they will now gain even more market share.
Hi Craig
Thanks for coming and answering questions on behalf of CMC.
I do feel that CMC should of waited till the new next gen was fully ready before pushing a sub standard platform (as it stands today) to the market.
I think traders will pop in on the demo and think its rubbish, now they prob won't pop in again.
With regards to Market Maker I think this should be kept for the more serious retail trader.
Plus there should be some incitement for clients to switch over.
Spreads from what I see are as tight but with a 0.6 added for CMC.
The new platform is web based and every platform I used that is web based has always got problems with freezing or delays. There should be a download version.
I hope that the new platform has all the functionality of Market Maker in time (How long is that ? 1 month, 6 months or more ?) and if so I'll prob deposit if you give some incitement to do so.
Regards
JD
And Thanks
It is not in CMC Markets interests for clients to lose money, we now actively hedge our client positions, unlike many SB firms. We work in partnership with our clients not against them. The new platform even has safety features such as automatic stop losses set to every trade (this can be turned off) and there are more risk management functions to come very soon.
The charting function is a continuing journey here at CMC Markets, expect many many more technicals, full drawing tools, the ability to save your layouts and a lot more im not able to talk about on an open forum. I am a fully qualified technical analyst myself, we will not be satisfied until we have above and beyond the best free charting package in the market, expect constant improvements.
For serious traders, what more can you ask for than 100% automation of all trades, no dealer intervention, no requotes and execution speeds of milliseconds, CMC has changed dramatically from what it was able to offer previously. This is the true power of the next gen system, feel free to check it out, there is a free, life time demo and even an Iphone app
Thanks for taking the time to voice your concerns
Regards
Craig
I'll be the first to admit that the charts are currently a little basic but you guys know now what our plans are going forward. It is a worry of mine that some clients will look at the platform for 5 mins, see only a few technicals and make a snap judgement about its capabilities as a trading platform, that's exactly why I feel compelled to ask you guys to simply try it out, compare the pricing and compare the execution to your other providers. I think you will be pleasantly surprised. We never walk away from an order ticket, you will always get filled. We have no requotes and don't operate with a fill or kill policy, as other firms do.
Ultimately, the provider that offers the best execution with constantly competitive pricing will be the one that gets all the business, the charting and other more exciting tools and features will come shortly.
The idea is to offer a core system for everyone with more advanced tools and functions added to cater for more sophisticated traders.
Thanks for the feedback so far
Regards
Craig
BeerMonster
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Hi CMC
You have stated that there are no requotes with your new software.
So what happens when the market price changes after I have clicked to trade and before you have processed the order. Believe me, in a fast moving market this can occur.
What will happen then, surely you will requote me a price?
You have stated that there are no requotes with your new software.
So what happens when the market price changes after I have clicked to trade and before you have processed the order. Believe me, in a fast moving market this can occur.
What will happen then, surely you will requote me a price?
The next gen system is 100% automated with top end computer systems to ensure your trade is executed at the price shown up to a maximum stake size which is clearly visible on our fact sheets. For example on the UK100, our max size for one order ticket is £100 per point (though you could do multiple trades of £100 to build up positions) This max size is related to the liquidity that is available to ensure we can cover your position. On GBP/USD our max ticket size is £200 per point.
Again I invite you guys to open demo accounts and place trades during volatile and fast moving market conditions to see for yourselves the difference in quality to what you have experienced before
Hope the trading is going well
Regards
Craig
Ok well I'll sit on the demo and pop in from time to time.
Craig please post any new updates as they come please.
As in Dragons Den, until there is some financial incentive to deposit......I'M OUT
BeerMonster
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Unless I am mistaken, if you say "no requotes" then we must be prepared to expect slippage and slippage of an unknown amount as I guess that we are unable to enter limit orders at the current market price?
Because we have added extra decimal points on to many of our most popular instruments, to offer greater price transparency, you can actually set limit orders fractions of a pip away, if you wish.
Tired_Of_Conmen
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Until there is a promise from Craig/CMC re: my post he seems to have not responded to (promising no requotes ever) then I'M OUT!!
Edit: don't mean to be harsh, but let's face it, CMC now have a mountain to climb after YEARS of Peter Cruddus (founder of CMC) stealing from us mug retail punters by opening positions we never opened, closing positions we never closed, requoting to death, freezing, taking the p*ss... Craig, I'm sure you're a lovely guy and you mean well and you know what? I actually wish CMC well on this mountain they must now climb - but the internet is LITTERED with CMC horror stories and I have one of my own so... you'll excuse our skepticism on here I hope.
Edit 2: notice on Post 29 Craig said: "...we now actively hedge our client positions..." notice the word NOW. That means it's now been offically revealed!! For years CMC did NOT hedge our positions which naturally means they played bookie pure and simple!! I knew it!!! If we lost, they won, if we won, they lost.... you can never ever ever ever use a "broker" like that as you will never win even if you find the Holy Grail. Again, CMC: I wish you well in changing the face of SB with your new sense of morality but is it too little too late for anyone who's been around in this industry for a few years and has rubbed shoulders with you guys before.......?
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CMC Markets have been working in partership with our clients for some time, thats why we created our award winning trader education programmes, gave our clients their own personal account managers, offered one 2 one training with risk free trading, followed now with our next gen system with automatic stoplosses, 100% automation, no dealer intervention, extra decimalisation, spread charts (to be able to see our bid/offer spread) and the most transparent and consistant pricing to grace the industry.
You are right there is a huge mountain to climb, it is a challange CMC will rise to, because we do something many do not, put the customer first, and i hope by reading these responses you guys can get a sense that this is geninue and not just the usual BS you are used to.
Spread Betting is a greatly useful tool for trading the financial markets and the provider that truely offers UK customers the service they demand will be a great company indeed.
I hope that you will get the chance to see for yourself once the good feedback filters through
Have a good night
Regards
Craig
I'm no great fan of spreadbet companies, and have had more than a few problems with them (inc CMC) over the years, but you're being a bit OTT now. No-one really believed that SBs needed to hedge every position. Particularly now that spreads are equal to, or better than, the underlying market they just couldn't operate that way. Most punters will lose without any devious tactics from the bookies, even with zero spread (as per WorldSpreads).
TRADEFUTURES
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Craig, the only asset CMC have is Ashraf Laidi. Other than that, CMC are a joke / the platform is a joke. CMC's service is a joke. CMC coming on here is a joke. CMC advertising here is a joke. CMC's days are numbered as there are too many better alternative SERVICE providers. If you want your clients back, you'll have to pay them with cold hard cash to come back, otherwise you're wasting your time here.
If CMC wants to change for the better, they should start by changing their name, as the name CMC is doo doo on the street.
I don't wish CMC luck, I hope CMC find it unprofitable to be in business. I hope CMC go out of business, however i doubt this will happen anytime soon as Cruddas has more than enough doolah's to keep the company afloat, and we all know where those doolah's came from!
