CMC Markets - Next Generation Platform

Right I have been away and been concentrating on my trading and no posting on forums and i will say that CMC who used to have the one of the best charting platforms a few years agao (pro real time with custom indicator building function) now have the worse, cheapest looking, unreliable pile of dog crap trading platform I have ever had the experience of trading.

Another example of why it would surely be smarter for them to have just created a published API to allow us to connect via our own favourite trading platform. Instead of spending no doubt hundreds of thousands on software that they like and would only be used by a subset of their own client base.
 
Another example of why it would surely be smarter for them to have just created a published API to allow us to connect via our own favourite trading platform. Instead of spending no doubt hundreds of thousands on software that they like and would only be used by a subset of their own client base.

It would be interesting to know the true effect Next Gen has had on CMC's business, if, say, 75% of people who try it don't like it.
 
Well that is an important question Ross. Where were those millions spent designing it? I would say it was just a tax write off. In over 6 months trading this platform, the amount of times I got filled at the quoted price I can count on one hand. You get filled at THEIR best price that is working in their favour. At least with requotes you had the chance to refuse the slippage quote, now you're being filled at on average (in my live account experience) 2-7 pips slippage per trade. Around volatile times (which are not always news driven so you can stand aside) prepare to pay CMC up to 40 pips slippage. How do you think old Crudpants is a multimillionaire, doing the lottery?
I agree, without the Boundary feature there was a serious security issue trading with CMC next-gen. Now that they have solved it one is somewhat protected. Still I don't know how accurate it is in live trading, on the demo account it works reasonable well. If one keep on trading with that kind of slippage you mentioned, who is to blame really?

____________
"Take control with Risk & Money Management"
http://www.trade2win.com/boards/pla...140296-visualrmm-interactive-new-concept.html
 
I agree, without the Boundary feature there was a serious security issue trading with CMC next-gen. Now that they have solved it one is somewhat protected. Still I don't know how accurate it is in live trading, on the demo account it works reasonable well. If one keep on trading with that kind of slippage you mentioned, who is to blame really?

____________
"Take control with Risk & Money Management"
http://www.trade2win.com/boards/pla...140296-visualrmm-interactive-new-concept.html


I totally agree with you on your last statement. There's really only one thing to do, we should all close our accounts and trade with another sbetting crook broker and let them slip us to death whilst advertising bs spreads. We need slippage control that we can set ourselves, mind you, I doubt any of our trades will be filled at a setting of 1 pip slippage allowance. (y)
 
I totally agree with you on your last statement. There's really only one thing to do, we should all close our accounts and trade with another sbetting crook broker and let them slip us to death whilst advertising bs spreads. We need slippage control that we can set ourselves, mind you, I doubt any of our trades will be filled at a setting of 1 pip slippage allowance. (y)
Absolutely no need to close the account. I don't think it will work 100% according to the Boundary settings, but still much better than without this feature. As said before, one has to have several brokers and take the best out of each.

____________
"Take control with Risk & Money Management"
http://www.trade2win.com/boards/pla...140296-visualrmm-interactive-new-concept.html
 
Until we make a stand and demand what we want, we will have to continue to fight not only the market, but also the sb broker. We are their earnings. We don't have to settle for anything, they make enough money from the losers, they make their own market, in which they have 100% control over, think about that for a minute. They could create a betting enviroment with zero slippage, 0.5 spreads on all products and STILL make a good profit. Food for thought?
 
The boundary feature works pretty good. Charting is absolute garbage.
And as I've said before, I certain they have some sort program that rattles
the price around, especially on the UK 100. It sort of pre-empts the next move.
Compare CMC to another provider, you will notice what I'm talking about.
 
The boundary feature works pretty good. Charting is absolute garbage.
And as I've said before, I certain they have some sort program that rattles
the price around, especially on the UK 100. It sort of pre-empts the next move.
Compare CMC to another provider, you will notice what I'm talking about.

I think it's like IG, where the price is derived from various sources, not just the directly related future, hence the extra jiggle that always gives the client the worst price, even if it's only a fraction of a pip/point. As Tesco say, every little bit helps (to swell the SB's profit)!
 
I will say one thing cmc charts are still like mickey mouse charts compared with IG advanced charts or some of the other serious packages out there, and I can't see on the current platform they will ever be as good.I don't think they are aimed at the serious trader as so many basic functions are missing.
 
Until we make a stand and demand what we want, we will have to continue to fight not only the market, but also the sb broker. We are their earnings. We don't have to settle for anything, they make enough money from the losers, they make their own market, in which they have 100% control over, think about that for a minute. They could create a betting enviroment with zero slippage, 0.5 spreads on all products and STILL make a good profit. Food for thought?
You don't fight the broker, that is just plain stupid. You create your own trading environment, select the right broker and if it proves that broker doesn't live up to your expectation you switch to another SB.

You must live in a dreamworld if you think the SB industry today can create money from nothing.:) This regarding to the last sentence of your post.

____________
"Take control with Risk & Money Management"
http://www.trade2win.com/boards/pla...140296-visualrmm-interactive-new-concept.html
 
:(I realized CMC has hidden spread or hidden hard coded slippages after non-farmer news.
Today I traded UK100 right after non-farmer data is released. I tried short UK 100 five times, all rejected by "boundry", and because it's after big news rally, the price doesn't move that quickly, I double checked the UK100 spread is still 0.7, so I decided to uncheck "boundry". The order then is accepted, but with 10 pips slippage. I'm 95% sure that the price I got is 10 pips away from the bid/ask spread, and I didn't see the price in chart. So the 10 pips slippaged is hidden (not see in the spread or chart).
 
:(I realized CMC has hidden spread or hidden hard coded slippages after non-farmer news.
Today I traded UK100 right after non-farmer data is released. I tried short UK 100 five times, all rejected by "boundry", and because it's after big news rally, the price doesn't move that quickly, I double checked the UK100 spread is still 0.7, so I decided to uncheck "boundry". The order then is accepted, but with 10 pips slippage. I'm 95% sure that the price I got is 10 pips away from the bid/ask spread, and I didn't see the price in chart. So the 10 pips slippaged is hidden (not see in the spread or chart).

Unfortunately that's the price you pay for trading with a market maker who creates their own synthetic market....ridiculously large slippage, prices hitting points that the 'underlying' market never does, and order rejections just to top it off! Have a look at a DMA provider, yes costs may be that tiny bit more, but you avoid all the issues you have just quoted....
 
:(I realized CMC has hidden spread or hidden hard coded slippages after non-farmer news.
Today I traded UK100 right after non-farmer data is released. I tried short UK 100 five times, all rejected by "boundry", and because it's after big news rally, the price doesn't move that quickly, I double checked the UK100 spread is still 0.7, so I decided to uncheck "boundry". The order then is accepted, but with 10 pips slippage. I'm 95% sure that the price I got is 10 pips away from the bid/ask spread, and I didn't see the price in chart. So the 10 pips slippaged is hidden (not see in the spread or chart).

How long after the news did you try to trade? The price can jump around for several minutes, so you can't realistically expect to get a trade on at an exact level.
 
1 min after news. The key is I didn't the the price jump at that time, it was just moving like regular market time.
 
wzero
try capital spreads .... i got instant execution at my price just after the number ... and made a few profits today.

I have to say i have never been rejected on a single trade and never been slipped... but i dont trade right on big numbers (nor do i have open short term positions) .

mad
 
:(I realized CMC has hidden spread or hidden hard coded slippages after non-farmer news.
Today I traded UK100 right after non-farmer data is released. I tried short UK 100 five times, all rejected by "boundry", and because it's after big news rally, the price doesn't move that quickly, I double checked the UK100 spread is still 0.7, so I decided to uncheck "boundry". The order then is accepted, but with 10 pips slippage. I'm 95% sure that the price I got is 10 pips away from the bid/ask spread, and I didn't see the price in chart. So the 10 pips slippaged is hidden (not see in the spread or chart).
Thanks for the report. Yes one has to be careful, some SB play games with slippage, not good. But there are others that do not, I haven't had a slippage with Capitalspreads for over a year and very seldom re-quotes. I have traded thousands of order with them in 2011, very fast and accurate execution.

____________
"Take control with Risk & Money Management"
http://www.trade2win.com/boards/pla...140296-visualrmm-interactive-new-concept.html
 
:(I realized CMC has hidden spread or hidden hard coded slippages after non-farmer news.
Today I traded UK100 right after non-farmer data is released. I tried short UK 100 five times, all rejected by "boundry", and because it's after big news rally, the price doesn't move that quickly, I double checked the UK100 spread is still 0.7, so I decided to uncheck "boundry". The order then is accepted, but with 10 pips slippage. I'm 95% sure that the price I got is 10 pips away from the bid/ask spread, and I didn't see the price in chart. So the 10 pips slippaged is hidden (not see in the spread or chart).

I post my trading log here, you can see I got 5 rejection at price 5862-5866. The last order I removed "boundry", I got the price 5854. IT'S NO WAY THE PRICE JUMPED TO 5854 at that time, and the spreads is always fixed right at 0.7:confused:

03.02.2012
21:32:34
Sell Trade UK 100 5,854.6

03.02.2012
21:32:27
Boundary
Exceeded
5,866.2
- -
03.02.2012
21:32:21
Boundary
Exceeded
5,862.5
- -
03.02.2012
21:31:49
Boundary
Exceeded
5,865.9
- -
03.02.2012
21:31:43
Boundary
Exceeded
5,865.7
- -
03.02.2012
21:31:38
Boundary
Exceeded
5,863.2
- -
 
wzero
try capital spreads .... i got instant execution at my price just after the number ... and made a few profits today.

I have to say i have never been rejected on a single trade and never been slipped... but i dont trade right on big numbers (nor do i have open short term positions) .

mad
Yes correct, I agree, however CS can have referral to a dealer for a short period of time during the release of important figures. This applies to all traders and is OK in my opinion. One should avoid trading the news with market makers.

____________
"Take control with Risk & Money Management"
http://www.trade2win.com/boards/pla...140296-visualrmm-interactive-new-concept.html
 
@WZERO: What you say may be true but can you really trade news from so far away from the exchanges? Trading news depends heavily on speed ( and luck?). Surely the successful news traders (robots fed the news as digital data) are those who are so close to the exchange they could sense the warmth of the exchange-servers. By the time the data has crossed the network, gone through god only knows how many network hops to reach your PC and then back again, they could probably have executed half a dozen trades. And that could be why CMC need to protect their end too.

Having said that I can say that CityIndex data looks very clean and consistent with the actual market data.
 
This applies to all traders and is OK in my opinion.

I don't agree this, because the spread was still fixed at 0.7, they should apply the same price (plus spead) for all traders either BUY or SELL. If say the price is 5870 and spread is 0.7, they should NOT give 5860 to seller but give 5870 or 5880 to buyer, that would mean 10.7 or 20.7 spread! It's reasonal if CMC widen the spread on news but the key is the spread was still 0.7 and I got 10 pips hidden slippage (hidden refers to the slippage is not caused by the next move on chart).
 
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