CMC Markets Old platform users beware

[Ross Spur]

What happens to the Level 2 facility of the Investor Edition platform after December?

 

[dick_dastardly]

Hi PC at CMC Markets.

Welcome to t2w, I hope you're gonna stick around long term to answer any future Q's peeps may have.

I've been clicking around inside the new platform and from what I can see it's only possible to open a position by using either a limit order or a market order.

Is it possible to enter on a stop order with an associated if done stop order?

Also, are OCO orders available?

I've watched the vid and it doesn't mention these types of orders.

I tried to open a demo account first but the site wouldn't let me so I just opened up a new account instead.

Thanks in advance.

PS - I hope the new charts are going to be as good as you say, I much prefer MM TBH.

dd

 

[PC at CMC Markets]

Good morning DD
Not sure if your blog is recent blog but will reply any way.
I think by now you would have seen all the new orders etc on next gen platform. we just added trailing stops. all bets can be tagged with stop loss and profit takes and you can change any resting orders either independently or by tagging them to existing bet. look out for charting in next couple of weeks. it has all been developed in house so we can change it quickly and give you what you want.
feeling happy today my team won 4-0 last night although I am half geordie (my Dad was from newcastle) still happy we won.

have a good day and good luck in the markets
Peter

Hi PC at CMC Markets.

Welcome to t2w, I hope you're gonna stick around long term to answer any future Q's peeps may have.

I've been clicking around inside the new platform and from what I can see it's only possible to open a position by using either a limit order or a market order.

Is it possible to enter on a stop order with an associated if done stop order?

Also, are OCO orders available?

I've watched the vid and it doesn't mention these types of orders.

I tried to open a demo account first but the site wouldn't let me so I just opened up a new account instead.

Thanks in advance.

PS - I hope the new charts are going to be as good as you say, I much prefer MM TBH.

dd

 

[PC at CMC Markets]

good morning newbie
will try to keep my blogging going to keep things updated.
you are right getting good charts is not difficult and you will see our new charts in couple of weeks. By the way all charts have been developed in house with some really new hot features. excited about launching these because I believe they will be best in the industry. should be with you by mid November, latest end November.
cheers Peter

to be fair tim CMC have said they will improve the charts and I believe them.

Charts are cheap and easy - you can always use another companies charts or sharescope etc....

However moving positions across / losing positions can mean big money.

 

[Hoggums]

Typical software developers! "It'll be ready in 2 weeks... if not then it'll be ready in 4." .. repeat ad infinitum...

 

[PC at CMC Markets]

Hi Rob
Can you tell me the time and day of your call to our office as I want to listen to the phone conversation you had with our support person as I want to make sure that person knows the details of next gen and old gen transition. Don't worry you will not be getting anybody in trouble just want to make sure the right message is getting across from our support people.

I have to listen to your complaints so give me the details so I can make sure it doesnt happen again in the future.

Many thanks regards Peter

Hi Peter, this directly contradicts what your own support people have told me - hence the confusion.

Glad to hear that where possible you will reimburse where people are moving platforms. Only last week your customer support (Amaya Perez) told me the opposite.

You should also look into stopping people making bets on products not likely to be offered on the new platform and establish clarity on this. I use CMC for longterm bets on FTSE small Cap stocks and AIM stocks - paying a hefty spread. I can no longer use you as if I open such a bet with you - at (on occassion) a spread of 5% or more I may have to close it within a month (according to your own people).

For example I have recently opened a bet at £11 a point on MGNS (FTSE Small cap) at a spread of 666/682 (paying £176 for the privilidge). According to your support people I am likely to be closed out and unable to roll my bet across (they are unsure what will be offered on the new platform and when this will happen). This hardly seems fair - as a long term trader there was only a small probability of me being able to making money on that bet.

Could you please clarify what you will do / how long the old platform will run for people on products which will not move over ?

Thanks,
Rob

 

[PC at CMC Markets]

Re: CMC Markets next gen

Hi Hoggums

You are right drives me crazy too but believe me next gen charting is well worth the wait. Not long to go now I promise, I have next gen charting up in front of me on another computer and it looks awesome.
tks Peter

Typical software developers! "It'll be ready in 2 weeks... if not then it'll be ready in 4." .. repeat ad infinitum...

 

[dick_dastardly]

Good morning DD
Not sure if your blog is recent blog but will reply any way.

If you look at the very top left hand corner of my post ( just above my nick name ) you will see the date and time when it was posted.

I think by now you would have seen all the new orders etc on next gen platform. we just added trailing stops. all bets can be tagged with stop loss and profit takes and you can change any resting orders either independently or by tagging them to existing bet. look out for charting in next couple of weeks. it has all been developed in house so we can change it quickly and give you what you want.
feeling happy today my team won 4-0 last night although I am half geordie (my Dad was from newcastle) still happy we won.

have a good day and good luck in the markets
Peter

Sorry if I'm being thick but I don't understand your response ( I've had a sleeping pill which I suspect has just kicked in ).


Please see below a screen shot of the order ticket taken at 9:30am BST today ( you need to left click on the image below to open up a bigger view of it and then click again on the bigger image to open in a new window ).

Where is the option to enter on a stop order?

Thanks in advance

dd

 

[PC at CMC Markets]

Re: CMC Markets next gen.

Hi Dd

Sorry missed your blog date was being a bit lazy and just noticed the date you joined the blog as opposed to your blog entry.
Thanks for screen shot but you will not see stop loss and profit take until you put in amount to bet, you dont have to bet to see stop and profit entry levels just place an amount. so if you put £5 up bet, stop loss window and profit take window will pop out for you.
There is a suggested stop loss based on the margin requirement for that product and the profit take is twice the stop loss amount. Hope that helps. see below screen shot to explain. Trailing stops are also in there.

tks Peter

If you look at the very top left hand corner of my post ( just above my nick name ) you will see the date and time when it was posted.



Sorry if I'm being thick but I don't understand your response ( I've had a sleeping pill which I suspect has just kicked in ).


Please see below a screen shot of the order ticket taken at 9:30am BST today ( you need to left click on the image below to open up a bigger view of it and then click again on the bigger image to open in a new window ).

Where is the option to enter on a stop order?

Thanks in advance

dd

 

[PC at CMC Markets]

Re: CMC Markets next gen platform.

Hi DD
In addition if you place a bet with a stop loss and profit take at the same time all orders will be tagged and you can amend them from the back office position window, they are in effect oco orders. see attached screen shot.
tks peter

If you look at the very top left hand corner of my post ( just above my nick name ) you will see the date and time when it was posted.



Sorry if I'm being thick but I don't understand your response ( I've had a sleeping pill which I suspect has just kicked in ).


Please see below a screen shot of the order ticket taken at 9:30am BST today ( you need to left click on the image below to open up a bigger view of it and then click again on the bigger image to open in a new window ).

Where is the option to enter on a stop order?

Thanks in advance

dd

 

[dick_dastardly]

Re: CMC Markets next gen platform.

Hi PC at CMC Markets

No, sorry, still haven't got it. Probably making a complete idiot of myself but anayway:

I don't want to include a trailing stop order or a take profit limit order with a bet, what I want to do is just place a stop on its own NOT associated with any other order in a market which I have no current position ( no other orders open ).

Here's how I would do it with the old style order ticket in mm.

Now I currently have no bets in rolling spot EURUSD:

In the first image below you can see the drop down menu and the different orders available ie Market, Limit, Stop, OCO and CRB bet.

In the second image you can see I have selected a stop order. If I now click on Place Order I would have a sell stop on its own at £5/point at 1.3670 in spot EURUSD.

How would I go about doing this in the new platform?

Thanks in advance

dd

 

[Ross Spur]

Trailing stops sounds good. Is it possible to open a trade this way?

 

[PC at CMC Markets]

Re: CMC Markets next gen platform.

Good morning Mr DD
Hope you had a good night last night. I was in bed by 10pm and had good eight hours. feeling good today, just look crap. ha ha

okay to answer your question
you want to place stop entry orders which we are not quite there on at the moment. We actually have the software built and it will be released in next two week. I know we should have had stop entry orders when we released the software but remember we are now offering, no requotes, automated execution, precision pricing so we have to make sure that the technology is spot on.

if you want to disable transaction based stops and profit order that are automatically generated when you open a new deal (you can adjust these automatically anyway) you can go into settings and switch off transaction based stops etc so you just get a simple deal ticket.
in next two weeks you will be able to place stop entry orders on simple deal ticket and place your own stops. around your entry orders either automatically (by leaving on transaction based stops) or manually (by turning off transaction based stops) it will all be there for you I promise.
I love our new technology I have spend two years developing it with a red hot team and if you stay engaged and give us a chance over next three months the next gen technology will get even better. hang on in there dd it will be worth the wait.
have a good day
peter

Hi PC at CMC Markets

No, sorry, still haven't got it. Probably making a complete idiot of myself but anayway:

I don't want to include a trailing stop order or a take profit limit order with a bet, what I want to do is just place a stop on its own NOT associated with any other order in a market which I have no current position ( no other orders open ).

Here's how I would do it with the old style order ticket in mm.

Now I currently have no bets in rolling spot EURUSD:

In the first image below you can see the drop down menu and the different orders available ie Market, Limit, Stop, OCO and CRB bet.

In the second image you can see I have selected a stop order. If I now click on Place Order I would have a sell stop on its own at £5/point at 1.3670 in spot EURUSD.

How would I go about doing this in the new platform?

Thanks in advance

dd

 

[PC at CMC Markets]

Re: CMC Markets next gen platform

good morning Ross
see my reply to dd above.
have a nice day
cheers peter

Trailing stops sounds good. Is it possible to open a trade this way?

 

[dick_dastardly]

Re: CMC Markets next gen platform.

Good morning Mr DD
Hope you had a good night last night. I was in bed by 10pm and had good eight hours. feeling good today, just look crap. ha ha

okay to answer your question
you want to place stop entry orders which we are not quite there on at the moment. We actually have the software built and it will be released in next two week. I know we should have had stop entry orders when we released the software but remember we are now offering, no requotes, automated execution, precision pricing so we have to make sure that the technology is spot on.

if you want to disable transaction based stops and profit order that are automatically generated when you open a new deal (you can adjust these automatically anyway) you can go into settings and switch off transaction based stops etc so you just get a simple deal ticket.
in next two weeks you will be able to place stop entry orders on simple deal ticket and place your own stops. around your entry orders either automatically (by leaving on transaction based stops) or manually (by turning off transaction based stops) it will all be there for you I promise.
I love our new technology I have spend two years developing it with a red hot team and if you stay engaged and give us a chance over next three months the next gen technology will get even better. hang on in there dd it will be worth the wait.
have a good day
peter

Thanks for the reply, I look forward to switching over to the new platform as soon as it's fully up to speed.

dd

 

[Ross Spur]

Re: CMC Markets next gen platform

good morning Ross
see my reply to dd above.
have a nice day
cheers peter

Thanks.

Even if the platform and charts are as good as you say, I think there'll still be a problem with signing up clients (new or previous) unless you equal the main market spreads offered elsewhere, ie 1pt CAC/FTSE/DAX/WS30/EU, 2pt GU.

 

[kalott]

What about CFD:s?

Is there any change there in the future to CMC Markets next gen platform

 

[PC at CMC Markets]

Re: CMC Markets Next Generation

Hi There Next gen cfds roll out begins in January. For Sweden I think you will be January or February, hopefully January. There will be some exciting new features but cannot tell you about them on this forum as the competition are watching my every word. However, take my word for it they will be exciting and good for clients.

cheers Peter
Is there any change there in the future to CMC Markets next gen platform[/QUOTE]

What about CFD:s?

 

[Aston1st]

The Older Platform is very good.

The only problem with CMC has been the dealers giving bad fills. And CMC taking their 1 tick each night after the close. 1 Tick doe's not sound much but at £500.00 a tick over a week that becomes very expensive.

If they could maintain the same platform with the same MARGIN rates but with better fills they would have a very good business model.

The Dealers give CMC a bad name through their Sharp practices.

It is because of their platform that I have not hopped around looking for another broker, unless I trade at a Prop Shop.

My Advice to CMC is to drop this new platform, and give your clients a better service with the old platform through better fills and Educating them about Trading.

 

[Ross Spur]

My Advice to CMC is to drop this new platform, and give your clients a better service with the old platform through better fills and Educating them about Trading.

No, what we need is charts in pretty colours with three-dimensional MACD indicators.