Best Thread CMC Markets owner answers your questions

[Truth Seeker]

hi Black swan,
Many thanks for your input and feed back. I have to tell you that I am listening to people on this forum. I am trying to get quarterly oil bets reinstated alongside our cash commodities because Nigel made a very good point. Also although the one click debate was nonsense and the way it was handled didnt come across well, I have looked at another part of the technology that I think will be good for clients but I cannot say what it is because I am still discussing it with the team to see how quickly we can get it up and running.
also all the feed back on charting has been passed onto the team and they are taking into account what has been said on this forum. Hey Ross, you might even get white back grounds if you keep on at it ha ha.
I have to admit also that part of what I learnt on this site has shaped our new spread reductions. There have been some very good points made about minimum spreads and now we are stepping up to the plate.

I actually love this forum, it really does tell me a lot about the industry and what I should be looking at and most of the time the feed back is constructive.
I know there is the odd rant and to be honest that spoils it for every body else but I try to seperate the stupid comments from the constructive comments and try to keep moving the industry and CMC Markets forwards.

well done to the people on this forum who give good feed back and help me shape CMC Markets. Sorry getting all mushy now but love is breaking out all over.

remember the above views are personal, you should understand the risk of spread betting for you trade.

thanks peter

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"Also although the one click debate was nonsense and the way it was handled didnt come across well, I have looked at another part of the technology that I think will be good for clients but I cannot say what it is because I am still discussing it with the team to see how quickly we can get it up and running."

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So it was nonsense? So now the truth has come out how you feel about your clients who ask relevant questions. There is nothing nonsensical about 1 click trading. You're own company used to have it on your Market Maker platform, and nearly every other SB company uses it! The way it was handled by your clients who asked about it was very well presented, we even posted screen shots of what a 1 click trading ticket looked like including your own Market Maker because you pretended to not understand what 1 click dealing was!

The truth is, the way you tried to avoid answering the 1 click dealing questions wasn't handled very well.

We know the reason why you have avoided answering the question, it's obvious, it's because if you employ 1 click trading again, you will be putting the odds in the clients favour and not your own, can't have that can you?

The way you have set the trade tickets as what was pointed out by another client who posted here, it's so you know what we are going to trade before we make it. Do you really think we are that naive?

I really hope the intelligent here can see what has gone on and don't listen to the clowns who come running to your defense (are they on the payroll I wonder?)

Now I'm wondering if T2W is going to censor this post too?

 

[Ross Spur]

hi Black swan,
Many thanks for your input and feed back. I have to tell you that I am listening to people on this forum. I am trying to get quarterly oil bets reinstated alongside our cash commodities because Nigel made a very good point. Also although the one click debate was nonsense and the way it was handled didnt come across well, I have looked at another part of the technology that I think will be good for clients but I cannot say what it is because I am still discussing it with the team to see how quickly we can get it up and running.
also all the feed back on charting has been passed onto the team and they are taking into account what has been said on this forum. Hey Ross, you might even get white back grounds if you keep on at it ha ha.
I have to admit also that part of what I learnt on this site has shaped our new spread reductions. There have been some very good points made about minimum spreads and now we are stepping up to the plate.

I actually love this forum, it really does tell me a lot about the industry and what I should be looking at and most of the time the feed back is constructive.
I know there is the odd rant and to be honest that spoils it for every body else but I try to seperate the stupid comments from the constructive comments and try to keep moving the industry and CMC Markets forwards.

well done to the people on this forum who give good feed back and help me shape CMC Markets. Sorry getting all mushy now but love is breaking out all over.

remember the above views are personal, you should understand the risk of spread betting for you trade.

thanks peter


==============================================================================

"Also although the one click debate was nonsense and the way it was handled didnt come across well, I have looked at another part of the technology that I think will be good for clients but I cannot say what it is because I am still discussing it with the team to see how quickly we can get it up and running."

==============================================================================

So it was nonsense? So now the truth has come out how you feel about your clients who ask relevant questions. There is nothing nonsensical about 1 click trading. You're own company used to have it on your Market Maker platform, and nearly every other SB company uses it! The way it was handled by your clients who asked about it was very well presented, we even posted screen shots of what a 1 click trading ticket looked like including your own Market Maker because you pretended to not understand what 1 click dealing was!

The truth is, the way you tried to avoid answering the 1 click dealing questions wasn't handled very well.

We know the reason why you have avoided answering the question, it's obvious, it's because if you employ 1 click trading again, you will be putting the odds in the clients favour and not your own, can't have that can you?

The way you have set the trade tickets as what was pointed out by another client who posted here, it's so you know what we are going to trade before we make it. Do you really think we are that naive?

I really hope the intelligent here can see what has gone on and don't listen to the clowns who come running to your defense (are they on the payroll I wonder?)

Now I'm wondering if T2W is going to censor this post too?

There wouldn't be a problem with censorship if you just calmed down a bit and stopped being so personal.

 

[tar]

Is this only available in the live account? Because in the demo account, you can disable 'order confirmation' but when you go to trade, you'll click on buy GBPUSD, it then brings up a BUY window for stake size and then has a confirmation button. But you can't sell in this window. You also can't open a buy window and a sell window at the same time. So you're forcing the client to tell you in advance his direction. Whether the underlying technology cares or not whether you go long or shot is a separate matter.

Is the live account the same?

Good point we mentioned this b4 to Peter , one side trading tickets opens the window for "personalized quoting" , and then the "advertised spreads" will not mean anything cuz we cant be sure exactly what really we are quoted unless we compare with other live accounts , and 99 % of the clients will not bother to do so . It is like calling a dealer asking for a quote and before he gives you one he asks : you want to buy or sell ? , that is totally against dealers etiquette .

 

[Truth Seeker]

There wouldn't be a problem with censorship if you just calmed down a bit and stopped being so personal.

Ross

Please don't start making accusations. I'm totally calm and have not been personal at all, if you took the time to read my posts you would have realised this. My posts were deleted for other obvious reasons (I gave a history of CMC and offered up a fair way to test the executions of the SB companies so we can see who is really the best). I'm surprised you haven't noticed this too, I'm not bothered now because I see the whole picture. To add, it was you also who was asking questions regarding the 1 click trading if my memory serves me well? We never got a straight answer did we?
You do know you're being used now don't you? Divide and conquer my friend, look it up.

 

[rufanuf]

Hi All,

Well its been a month or two since i posted here. I was persuaded to migrate my whole account from the old cmc platform over to the new with promises of loads of instruments being added end of April I believe. It never happened. Im dissapointed that Im losing out on opportunities to trade and dont really understand how an issue as important as adding instruments can be delayed so long, surely the software has a simple back office mechanism to get new sintruments added?

 

[Shakone]

Good point we mentioned this b4 to Peter , one side trading tickets opens the window for "personalized quoting" , and then the "advertised spreads" will not mean anything cuz we cant be sure exactly what really we are quoted unless we compare with other live accounts , and 99 % of the clients will not bother to do so . It is like calling a dealer asking for a quote and before he gives you one he asks : you want to buy or sell ? , that is totally against dealers etiquette .

Exactly tar, and the response seems to be that their system doesn't care which way you trade. But in this business, I don't think many are willing to take this purely on faith. I can't believe that the people that designed the interface would be so clumsy by accident as to make it impossible to open a buy ticket and a sell ticket.

The fact that you have to choose direction before entering a trade, explicitly means the system DOES care in which direction you trade.

There's no doubt that there has been progress though. Spreads have come down a long way. The above issue needs to be improved, the one-click trading needs to be improved, a couple of other things mentioned earlier, and I think it could be an excellent platform.

 

[Black Swan]

The fact that you have to choose direction before entering a trade, explicitly means the system DOES care in which direction you trade.

There's no doubt that there has been progress though. Spreads have come down a long way. The above issue needs to be improved, the one-click trading needs to be improved, a couple of other things mentioned earlier, and I think it could be an excellent platform.

Would folk actually be ready to place a trade not knowing whether or not they're going to go long or short? For me I use one click through my FX brokers and on occassion I may *hover* over the ticket just to see if I'll get a slightly better fill (you could argue it's pathetic really given I'm swing/position) but for example on occasion if going long I'll see the candle collapsing and by waiting get a much better price/fill but I'm still fully committed to the long trade given my decision (plan trade/trade plan) is already made and bar a massive spike/outlier event nothing will deter me from taking the trade in the direction I've decided on.

I actually think if a platform is *saying* "you sure, you sure you're sure, you sure you want to go ahead with this?" it ain't such a bad thing..but you know my feelings/thoughts by now that using SB for anything other than swing and or position is death to your account, slow or long death, but certain death..

 

[Shakone]

Black Swan, folk already know whether they're going long or short, but the broker shouldn't. You know this, and you know why. The broker should offer a two-sided quote, and then you accept one of those prices. It doesn't matter if it is online or over the phone, you want a two-sided quote.

 

[TomTom]

Can some one at CMC explain why my account has been credited with £19,280 ?
Date on the statement 30th September.

 

[tar]

Can some one at CMC explain why my account has been credited with £19,280 ?

Hey , what happened to your case against CMC ? maybe the 19k is related to your case

 

[Ross Spur]

Ross

Please don't start making accusations. I'm totally calm and have not been personal at all, if you took the time to read my posts you would have realised this. My posts were deleted for other obvious reasons (I gave a history of CMC and offered up a fair way to test the executions of the SB companies so we can see who is really the best). I'm surprised you haven't noticed this too, I'm not bothered now because I see the whole picture. To add, it was you also who was asking questions regarding the 1 click trading if my memory serves me well? We never got a straight answer did we?
You do know you're being used now don't you? Divide and conquer my friend, look it up.

It was an observation, not an accusation, based on reading your recent posts. FWIW, I actually agree with much of what you say, but not the way you say it. Surely you can see that your posts were deleted because they were attacks on CMC and PC personally.

 

[Emini-mouse]

Black Swan, folk already know whether they're going long or short, but the broker shouldn't. You know this, and you know why. The broker should offer a two-sided quote, and then you accept one of those prices. It doesn't matter if it is online or over the phone, you want a two-sided quote.

i dont. ok call me a seat of the pants type trader, but sometimes i like to sit with a ticket open when price is approching a level and then decide if i think it will break through or retrace depending on other factors . then i need 1 click either way
imho a DOM ladder is the best way . one click on one click off - rt done

 

[Black Swan]

i dont. ok call me a seat of the pants type trader, but sometimes i like to sit with a ticket open when price is approching a level and then decide if i think it will break through or retrace depending on other factors . then i need 1 click either way
imho a DOM ladder is the best way . one click on one click off - rt done

Nope I wouldn't call that seat of pants if it's planned (which it is), you're simply executing your strat., and playing off S&R levels or he daily pivot point is pretty standard stuff, but imho it's a coin toss on which you're making the odds slightly worse using SB.. But look I don't hunt for single figure pips, I only play for 3 figure pips so my views/prejudices are somewhat coloured...

 

[tar]

we get it mate u r a swing trader we totally get it ...

 

[PC at CMC Markets]

Hi Shakone
Many thanks for the posting. One click only applies if you want to buy/sell at the market price you see on the screen without implementing any of the risk management functions. These other functions e.g stops have to be entered on the buy or sell side with all providers.
What we offer our clients on Next Gen platform, is a fully integrated ticket that automatically places (you can turn it off) margin stop losses and margin (double the margin) profit takes.
The big issue with spread betters is getting whip sawed out of positions and margins and so we tried to build in a fully integrated stop loss and profit programme. This is what you have at the moment.
If you want to place an order at the market price you see on the screen yes you have to click on buy or sell, but you can hold the ticket open and watch the market move up and down in front of you.
Then when you are ready to trade click confirm. It goes through instantly.
By having a fully integrated ticket we are building in all these protections. We have tried to help the majority of spread betters with 1. Protect their cash, 2, give them fully integrated tickets (auto margin stop losses and profit takes, place stops and limits from TICKET charts) .
We are trying to be as transparent as possible.
I am not promoting CMC Markets on this forum, I am just stating facts because
I can assure you 100 percent that all prices are generated by computer algorithms independently. No client positions are monitored or read before a price is generated
and we always endeavour to give you the market price you see regardless of whether the client is a buyer or seller. These are the facts.
Don’t forget also we pump real-time live prices through our demo system so you can play with the system before you sign up.
I do accept that there are some clients that do not want fully integrated tickets.
But you have to accept that the whole trading environment around the world is changing. Regulators want built in safety tools to protect clients; there are so many complaints around the world that clients over leverage themselves. What we have tried to do is build protection in for the average spread bet client with all the above. I believe that this is the future for this industry and for the financial retail industry all round. The world is changing and our industry is changing and you have to see the bigger picture. The markets can be very volatile and there has been a major financial melt down around the world over the last three years and we as a company have to move forward with as much added protection for clients as possible. Regulators are demanding this around the world. I can give many examples but I will stick to one as this is not what this forum is for: minimum margins on retail forex in Japan are now 5 percent, they used to be 0.25 percent. Try to see the bigger picture because everything we have done is to try and keep the client on the safe side. That is how it is now a-days.
Yes we will look at introducing market order tickets that are not fully integrated because there is a section of the spread bet and cfd community that is looking for it but the future of the industry has to be built around protection of clients and that is why we have done all of the above.
This is a much wider debate and it is wrong to assume that CMC Markets is acting independently in its own interests. No company can ignore regulatory changes, compliance changes, client money segregation changes, margin changes, pricing and execution changes. This industry is moving up to a higher level and we are moving up with it.

Please remember that spread betting is a leverage product. Losses can exceed your initial deposit, so ensure you understand the risks.

Many thanks Peter

Exactly tar, and the response seems to be that their system doesn't care which way you trade. But in this business, I don't think many are willing to take this purely on faith. I can't believe that the people that designed the interface would be so clumsy by accident as to make it impossible to open a buy ticket and a sell ticket.

The fact that you have to choose direction before entering a trade, explicitly means the system DOES care in which direction you trade.

There's no doubt that there has been progress though. Spreads have come down a long way. The above issue needs to be improved, the one-click trading needs to be improved, a couple of other things mentioned earlier, and I think it could be an excellent platform.

 

[tar]

what this has to do with shakone comments !!!

 

[6am]

Regulators want built in safety tools to protect clients; there are so many complaints around the world that clients over leverage themselves. I can give many examples but I will stick to one as this is not what this forum is for: minimum margins on retail forex in Japan are now 5 percent, they used to be 0.25 percent.

I like the way how some online casinos implement protections. They allow the client to specify all sorts of restrictions, maximum number of deposits, maximum stake etc. This is the right way to implement protection. Give the client tools and if necessary the client will use them. However enforcing these protections on the client is patronising.

 

[PC at CMC Markets]

so take it up with the regulators then.

I like the way how some online casinos implement protections. They allow the client to specify all sorts of restrictions, maximum number of deposits, maximum stake etc. This is the right way to implement protection. Give the client tools and if necessary the client will use them. However enforcing these protections on the client is patronising.

 

[brasil2000]

Would folk actually be ready to place a trade not knowing whether or not they're going to go long or short? For me I use one click through my FX brokers and on occassion I may *hover* over the ticket just to see if I'll get a slightly better fill (you could argue it's pathetic really given I'm swing/position) but for example on occasion if going long I'll see the candle collapsing and by waiting get a much better price/fill but I'm still fully committed to the long trade given my decision (plan trade/trade plan) is already made and bar a massive spike/outlier event nothing will deter me from taking the trade in the direction I've decided on.

I actually think if a platform is *saying* "you sure, you sure you're sure, you sure you want to go ahead with this?" it ain't such a bad thing..but you know my feelings/thoughts by now that using SB for anything other than swing and or position is death to your account, slow or long death, but certain death..

Black swan, because you can't or don't like to trade short time frames, nobody else can be successful at it.

 

[Shakone]

Thankyou for your response PC. I am happy for you to impose your choice of margin requirements, automated stop losses at fixed distances (50pips, 100 pips, etc), or percentage stop losses, and protect me.

Given that, I would like to open a ticket and be able to choose whether I buy or sell from that ticket (or if you prefer, open up a buy ticket and a sell ticket). Please explain to me why that isn't possible, given that I accept all the protection you're offering clients/regulation etc.