R.Charnock
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They might have to do a rethink if everyone just uses a different SB. Even if the spread you actually got was wider, why else would you use CMC?
isatrader
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Fractional position sizes and 0 to 100% adjustable leverage on the CFD platform is why I use them as you can do precise position sizing and have positions without leverage. No other broker in the UK has that, that I've found, but it's been about a year since I last looked around, so will be interested to know if there's anyone else that does now?
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tar
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I guess a lot of Dow traders will move to Captitalspreads.
Guess again
, what about slippage , uptime , customer service , margins , speed , withdrawals , overnight charges , ... etc , really 1 pip or 1.4 or even 2 doesn't matter that much , it is still a factor but a minor one , there are many other factors to consider as well , so to change to CS just because of a 0.4 pips difference that's just stupid , as if CS is in a good shape and has a great platform !Same experience here guys, I tried the demo version of the CFD platform in the DAX at main trading hours. The slippage was really something else. I don't remember a trade which opened/closed at the level I requested. And we are not speaking here about a point or two, was at least three/four points when the markets were quiet and more than ten when there was volatility.
I also did a couple of trades on the IBEX and the EURUSD. Same problems.
They called me to ask my opinion. I mentioned the slippage and there was no comment from the other side of the phone.
I also remember the system going down for many hours one day.
If this is how the demo account works I don't want to think how the real account does.
I don't want to have anything to do with them and will not recommend them. If I compare them with let's say IG Markets, they are a million miles behind. If you have a bad day with them (CMC) it will blow your account for sure, they don't seem to respect any SL or TP you put on the trades.
What I can not understand is how they still have some clients. It is beyond my little brain.
I also did a couple of trades on the IBEX and the EURUSD. Same problems.
They called me to ask my opinion. I mentioned the slippage and there was no comment from the other side of the phone.
I also remember the system going down for many hours one day.
If this is how the demo account works I don't want to think how the real account does.
I don't want to have anything to do with them and will not recommend them. If I compare them with let's say IG Markets, they are a million miles behind. If you have a bad day with them (CMC) it will blow your account for sure, they don't seem to respect any SL or TP you put on the trades.
What I can not understand is how they still have some clients. It is beyond my little brain.
R.Charnock
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Guess again
What I meant was that you may have been able to put up with CMC when the (theoretical) spreads were so tight, but why would you now that other SBs offer better. CS's platform might be a bit stone age in some respects, but it's functional and at least they try to give good customer service.
If you remember, Peter Crudas didn't stick around here long when the questions got tough, but CS Simon still makes the effort to post on T2W and obviously cares when there is a problem.
I would agree with you if it wasn't for the case that CS is a really good company with almost zero slippage. CMC increases the spread by 100%, it could also mean less slippage, hopefully so. CS is by far perfect, but the execution model they implement is in my point of view outstanding in the industry. Yes the platform have a lot to be desired. But you know, I will take that, as I am confident they will give me a price I agreed upon (unless invalid price of course). They will honor the stop loss in a percentage rate that I have not seen with another SB company, and that say a lot to me them being a market maker.Guess again
Hi isatrader, indeed it says financing cost none but just below it says roll-over spread. So for your example, every day gold, you will lose 0.25?
Perhaps I am missing something?
Perhaps I am missing something?
So CMC made the changes to the spreads today, and did double the US30 spread to 1.4, which isn't ideal. However they did a lot of other changes as well, of which I like the introduction of what they call Forwards. Which are basically Futures contracts with their spread applied. So far from manually viewing the charts they seem to track the prices well, but I think the key difference of these to the cash products is that they have no daily financing cost or carry costs other than the end of contract rollover. Which is a positive for people wanting to use adjustable leverage and reduce their overall fees. (This is for the CFD account)
So at first look it seems that the changes will benefit swing traders the most, but adversely effect intra-day traders. But day traders should be trading proper futures accounts imo anyway, as bucket shop accounts are not suitable for that.
isatrader
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You might be right. Will need to test it to see if it's a daily rollover cost or a end of contract rollover cost as it isn't clear on that. If that is the case though, then it seems pointless using the forwards as the cash products don't charge you any rollover costs, only financing costs if you use leverage.
p.s. I deleted the previous post as it's likely it was wrong and don't want to put up inaccurate information
brasil2000
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I can confirm Cmc backwards step by increasing spreads on their Uk platform
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Billy Gates
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ts not just the platform that is rubbish. There response time can be as much as 10 minutes. I have experienced this on MANY occasions.
Marketmaker was one of the best platforms around> It seems they have changed direction and this reflects in there overall approach.
Nothing will change. There was a guy on here from CMC, the owner I think who used to take questions. The lack of changes or improvements to service since he has been on here answering questions is a clear demonstration that customers have to adapt th their changes regardless.
If there was any chance of change don't you think the opinions here would have had some MINIMAL impact from his time here.
Marketmaker was one of the best platforms around> It seems they have changed direction and this reflects in there overall approach.
Nothing will change. There was a guy on here from CMC, the owner I think who used to take questions. The lack of changes or improvements to service since he has been on here answering questions is a clear demonstration that customers have to adapt th their changes regardless.
If there was any chance of change don't you think the opinions here would have had some MINIMAL impact from his time here.
R.Charnock
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Mr Crudas spat his dummy out once it became obvious that all the negative comments about Next Gen were true.
Lets be honest the "new platform" although slightlty better now than the dreadful thing it was is still light years away from the best out there like it finances advanced platform (used by ig) and as has already been said in many ways its still not as good as market maker was years ago!Thats progress is it?I am sorry but it might be ok on mobile platforms but I just don't see many serious traders trading from an ipad or iphone!
I think cmc have decided to target the non serious blow your account quick punter rather than provide a serious trading platform.
I think cmc have decided to target the non serious blow your account quick punter rather than provide a serious trading platform.
R.Charnock
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They'll soon run out of punters if that's true, particularly if they sneak in wider spreads.
phoenix25140
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Develop your own system based on your personality and style. Read around, do you want to hold stocks for a few days? months? Do you prefer chart patterns or financials ? or both?
Get onto ADVFN premium lists to see some potential breakout and hot stocks.
Start betting small and see if your system works. Theres so much information out there but just be selective and focus on certain stocks/ market sectors to gauge a feel for the levels and potential trades.
Good luck newbie!
fibbinstarchi
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As I stated when this thread was started, CMC do NOT want any decent trader because we trade their market, and when we win, they LOSE. It's simple. The choice from moving from Pro Real Time charting to these pile of flash run sh1te is obvious - it's to appeal to the noobs and take their money and run as there's one born every minute, and nothing is parted quicker than a fool and his money. I personally know traders who traded off this platform and got their accounts closed because CMC didn't like them consistently winning huge amounts (scalping). I would never recommend this cowboy outfit to anyone.
